REGISTERED CHARITY NUMBER: 326093
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
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 2022
| 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 | 9 |
| Detailed Statement of Financial Activities | 10 |
The Storz Charitable Trust
Report of the Trustees for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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 2022.
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 2022
| 31.3.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 125,239 Investment income 2 45,646 Total 170,885 EXPENDITURE ON Raising funds 3 235 Charitable activities 4 Grants to institution 200,141 Other (4,581) Total 195,795 NET INCOME/(EXPENDITURE) (24,910) RECONCILIATION OF FUNDS Total funds brought forward 1,343,009 TOTAL FUNDS CARRIED FORWARD 1,318,099 |
31.3.21 Total funds £ 140,125 53,758 |
|---|---|
| 193,883 | |
| 274 99,541 1,745 |
|
| 101,560 | |
| 92,323 1,250,686 |
|
| 1,343,009 |
The notes form part of these financial statements
Page 3
The Storz Charitable Trust
Balance Sheet 31 March 2022
| 31.3.22 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 1,158,649 CURRENT ASSETS Debtors 9 41,290 Cash at bank 120,590 161,880 CREDITORS Amounts falling due within one year 10 (2,430) NET CURRENT ASSETS 159,450 TOTAL ASSETS LESS CURRENT LIABILITIES 1,318,099 NET ASSETS 1,318,099 FUNDS 11 Unrestricted funds 1,318,099 TOTAL FUNDS 1,318,099 |
31.3.21 Total funds £ 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 |
|---|---|
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 2022
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 | ||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Rents received | 45,646 | 53,758 |
Page 5
continued...
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
3. RAISING FUNDS
Investment management costs
| Insurance 4. CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note 5) £ Grants to institution 200,145 5. GRANTS PAYABLE Grants to institution During the year, grants to institutions amounted to £200,145 (2021: £99,541). Chasdei Aharon Limited Mifal Hachesed Vehatzedokoh Shir Chesed Beis Yisroel College For Higher Rabbinical Studies Friends of Mir Friends Of Mercaz Hatorah Amud Hatzdokoh Trust VHLT Ltd The Friends Of Yeshivas Brisk Chevras Mo'oz Ladol Other donations < £6,000 |
31.3.22 £ 235 Support costs £ (4) 31.3.22 £ 200,145 |
31.3.21 £ 274 Totals £ 200,141 31.3.21 £ 99,541 |
|
|---|---|---|---|
| 8,000 | |||
| 8,180 | |||
| 10,000 | |||
| 12,000 | |||
| 15,000 | |||
| 12,000 | |||
| 34,395 | |||
| 20,000 | |||
| 6,400 | |||
| 15,400 | |||
| 58,770 | |||
| 200,145 | |||
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Page 6
continued...
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 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 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 April 2021 and 31 March 2022 1,150,000 NET BOOK VALUE At 31 March 2022 1,150,000 At 31 March 2021 1,150,000 |
Fixtures and fittings £ 8,649 8,649 8,649 |
Unrestricted fund £ 140,125 53,758 193,883 274 99,541 1,745 101,560 92,323 1,250,686 1,343,009 Totals £ 1,158,649 1,158,649 1,158,649 |
Unrestricted fund £ 140,125 53,758 193,883 274 99,541 1,745 101,560 92,323 1,250,686 1,343,009 Totals £ 1,158,649 1,158,649 1,158,649 |
|---|---|---|---|
| 193,883 | |||
| 274 99,541 1,745 |
|||
| 101,560 | |||
| 92,323 1,250,686 |
|||
| 1,343,009 | |||
| Totals £ 1,158,649 1,158,649 1,158,649 |
|||
No depreciation is provided on tangible fixed assets.
continued...
Page 7
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 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 1/4/21 £ Unrestricted funds General fund 1,343,009 TOTAL FUNDS 1,343,009 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 170,885 TOTAL FUNDS 170,885 Comparatives for movement in funds At 1/4/20 £ Unrestricted funds General fund 1,250,686 TOTAL FUNDS 1,250,686 |
31.3.22 £ 41,290 31.3.22 £ 2,430 Net movement in funds £ (24,910) (24,910) Resources expended £ (195,795) (195,795) Net movement in funds £ 92,323 92,323 |
31.3.21 £ 58,850 31.3.21 £ 8,830 At 31/3/22 £ 1,318,099 1,318,099 Movement in funds £ (24,910) (24,910) At 31/3/21 £ 1,343,009 1,343,009 |
|---|---|---|
continued...
Page 8
The Storz Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 193,883 | (101,560) | 92,323 |
| TOTAL FUNDS | 193,883 | (101,560) | 92,323 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/20 £ 1,250,686 1,250,686 |
Net movement in funds £ 67,413 67,413 |
At 31/3/22 £ 1,318,099 |
|---|---|---|---|
| 1,318,099 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 364,768 | (297,355) | 67,413 |
| TOTAL FUNDS | 364,768 | (297,355) | 67,413 |
12. RELATED PARTY DISCLOSURES
During the year the company received donations from one of the trustees.
Page 9
The Storz Charitable Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Rents received Total incoming resources EXPENDITURE Investment management costs Insurance Charitable activities Grants to institutions Support costs Finance Bank charges Governance costs Accountancy Total resources expended Net (expenditure)/income |
31.3.22 £ 125,239 45,646 170,885 235 200,145 215 (4,800) 195,795 (24,910) |
31.3.21 £ 140,125 53,758 |
|---|---|---|
| 193,883 274 99,541 145 1,600 |
||
| 101,560 | ||
| 92,323 |
This page does not form part of the statutory financial statements
Page 10