REGISTERED CHARITY NUMBER: 326093
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
The Storz Charitable Trust
Martin+Heller 5 North End Road London NW11 7RJ
The Storz Charitable Trust
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
The Storz Charitable Trust
Report of the Trustees for the Year Ended 31 March 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To or the benefit of such charitable institutions as the trustees may think fit in particular but not exclusively for the relief of poverty hardship and distress the relief of the sick and handicapped and the advancement of education.
Public benefit
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
326093
Principal address
14 Riverside Drive Golders Green Road London NW11 9PU
Trustees
Mrs E Storz Mrs M Erlich E Storz
Independent Examiner
Mr A Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs E Storz - Trustee
Page 1
Independent Examiner's Report to the Trustees of The Storz Charitable Trust
Independent examiner's report to the trustees of The Storz Charitable Trust
I report to the charity trustees on my examination of the accounts of The Storz Charitable Trust (the Trust) for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr A Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 2
The Storz Charitable Trust
Statement of Financial Activities for the Year Ended 31 March 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities 4 Grants to institution Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.21 Unrestricted fund £ 140,125 53,758 193,883 274 99,541 1,745 101,560 92,323 1,250,686 1,343,009 |
31.3.20 Total funds £ 5,500 45,008 50,508 251 183,800 1,785 185,836 (135,328) 1,386,014 1,250,686 |
|---|---|---|
The notes form part of these financial statements
Page 3
The Storz Charitable Trust
Balance Sheet 31 March 2021
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.3.21 Unrestricted fund £ 1,158,649 58,850 134,340 193,190 (8,830) 184,360 1,343,009 1,343,009 1,343,009 1,343,009 |
31.3.20 Total funds £ 1,158,649 58,850 40,417 99,267 (7,230) 92,037 1,250,686 1,250,686 1,250,686 1,250,686 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
E Storz - Trustee
The notes form part of these financial statements
Page 4
The Storz Charitable Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| Rents received | 53,758 | 45,008 |
Page 5
continued...
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 3. RAISING FUNDS Investment management costs Insurance 4. CHARITABLE ACTIVITIES COSTS Grants to institution 5. GRANTS PAYABLE Grants to institution During the year, grants to institutions amounted to £99,541 (2020: £183,800). Kolel Pardes Trust Netzach Yisroel Beis Ahron Trust CEN Trust Friends of Mir Beis Hatalmud Trust Amud Hatzdokoh Trust Chavrei Shas Yeshivas Brisk North London Welfare Inspirations Keren Hatzolas Doros Tzedokah Vchesed CMZ Ltd Tomchei Yotzei Anglia Other donations < £2,000 |
31.3.21 £ 274 31.3.21 £ 99,541 |
31.3.20 £ 251 Grant funding of activities (see note 5) £ 99,541 31.3.20 £ 183,800 |
31.3.20 £ 251 Grant funding of activities (see note 5) £ 99,541 31.3.20 £ 183,800 |
|---|---|---|---|
| 2,760 | |||
| 3,800 | |||
| 2,000 | |||
| 2,750 | |||
| 7,500 | |||
| 3,600 | |||
| 4,940 | |||
| 2,000 | |||
| 4,800 | |||
| 7,200 | |||
| 2,000 | |||
| 2,000 | |||
| 2,000 | |||
| 4,500 | |||
| 16,500 | |||
| 31,191 | |||
| 99,541 | |||
Page 6
continued...
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Grants to institution Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 5,500 45,008 50,508 251 183,800 1,785 185,836 (135,328) 1,386,014 1,250,686 |
|---|---|
continued...
Page 7
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
8. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 April 2020 and 31 March 2021 1,150,000 NET BOOK VALUE At 31 March 2021 1,150,000 At 31 March 2020 1,150,000 No depreciation is provided on tangible fixed assets. 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 11. MOVEMENT IN FUNDS At 1/4/20 £ Unrestricted funds General fund 1,250,686 TOTAL FUNDS 1,250,686 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 193,883 TOTAL FUNDS 193,883 |
Fixtures and fittings £ 8,649 8,649 8,649 31.3.21 £ 58,850 31.3.21 £ 8,830 Net movement in funds £ 92,323 92,323 Resources expended £ (101,560) (101,560) |
Totals £ 1,158,649 1,158,649 1,158,649 31.3.20 £ 58,850 31.3.20 £ 7,230 At 31/3/21 £ 1,343,009 1,343,009 Movement in funds £ 92,323 92,323 |
|
|---|---|---|---|
continued...
Page 8
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/19 £ Unrestricted funds General fund 1,386,014 TOTAL FUNDS 1,386,014 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 50,508 TOTAL FUNDS 50,508 |
Net movement in funds £ (135,328) (135,328) Resources expended £ (185,836) (185,836) |
At 31/3/20 £ 1,250,686 |
At 31/3/20 £ 1,250,686 |
|
|---|---|---|---|---|
| 1,250,686 | ||||
| Movement in funds £ (135,328) (135,328) |
||||
| (135,328) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/19 £ 1,386,014 1,386,014 |
Net movement in funds £ (43,005) (43,005) |
At 31/3/21 £ 1,343,009 |
|---|---|---|---|
| 1,343,009 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 244,391 244,391 |
Resources Movement expended in funds £ £ (287,396) (43,005) (287,396) (43,005) |
Resources Movement expended in funds £ £ (287,396) (43,005) (287,396) (43,005) |
|---|---|---|---|
| (43,005) |
continued...
Page 9
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 10
The Storz Charitable Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 140,125 | 5,500 |
| Investment income | ||
| Rents received | 53,758 | 45,008 |
| Total incoming resources | 193,883 | 50,508 |
| EXPENDITURE | ||
| Investment management costs | ||
| Insurance | 274 | 251 |
| Charitable activities | ||
| Grants to institutions | 99,541 | 183,800 |
| Support costs | ||
| Finance | ||
| Bank charges | 145 | 185 |
| Governance costs | ||
| Accountancy | 1,600 | 1,600 |
| Total resources expended | 101,560 | 185,836 |
| Net income/(expenditure) | 92,323 | (135,328) |
This page does not form part of the statutory financial statements
Page 11