CHARITY REGISTRATION NUMBER: 328593
The C & R Charitable Trust
Unaudited Financial Statements
5 April 2023
HAFFNER HOFF LTD
Chartered accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
The C & R Charitable Trust
Financial Statements
Year ended 5 April 2023
| Pages | |
|---|---|
| Trustees' annual report | 1 to 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 12 |
The C & R Charitable Trust
Trustees' Annual Report
Year ended 5 April 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2023.
Reference and administrative details
Registered charity name The C & R Charitable Trust Charity registration number 328593 Principal office 2nd Floor, Parkgates Bury New Road Manchester M25 0TL The trustees M Kaufman R Kaufman Y Leitner Accountants Chartered accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
The C & R Charitable Trust is a charitable trust constituted by a Deed of Trust dated 30 March 1990 and is a registered charity, number 328593.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
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The C & R Charitable Trust
Trustees' Annual Report (continued)
Year ended 5 April 2023
Objectives and activities
The objectives of the charity are any such exclusively charitable purposes as the trustees shall from time to time in their absolute discretion determine.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Investment Policy
The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity and the charity has invested in various joint property syndicates to provide a steady income for the beneficiaries as above. All the investments are in the United Kingdom.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
Achievements and performance
During the year the charity made grants totalling £46,714 in furtherance of its objectives. Governance costs amounted to £930.
Financial review
As at 31 March 2023 the charity held free reserves comprising net current liabilities of (£38,951) (2022:-£24,048).
Reserves Policy
The charity has net current liabilities, this is due to a loan, the loan creditor has assured the trustees that the loan will not be called in to the detriment of the charity.
Trustees' responsibilities statement
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
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The C & R Charitable Trust
Trustees' Annual Report (continued)
Year ended 5 April 2023
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report was approved on 5 April 2024 and signed on behalf of the board of trustees by:
R Kaufman Trustee
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The C & R Charitable Trust
Independent Examiner's Report to the Trustees of The C & R Charitable Trust
Year ended 5 April 2023
I report to the trustees on my examination of the financial statements of The C & R Charitable Trust ('the charity') for the year ended 5 April 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
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The C & R Charitable Trust
Statement of Financial Activities
Year ended 5 April 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 25,000 | 25,000 | 6,555 |
| Investment income | 5 | 50,061 | 50,061 | 63,896 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 75,061 | 75,061 | 70,451 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 47,722 | 47,722 | 54,879 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 47,722 | 47,722 | 54,879 | |
| ============================ | ============================ | ============================ | ||
| Net losses on investments | 10 | – | – | (10,576) |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net income and net movement in funds | 27,339 | 27,339 | 4,996 | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 140,601 | 140,601 | 135,605 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 167,940 | 167,940 | 140,601 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 12 form part of these financial statements.
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The C & R Charitable Trust
Statement of Financial Position
5 April 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Investments | 14 | 206,891 | 164,649 |
| Current assets | |||
| Cash at bank and in hand | 708 | 16,369 | |
| Creditors: amounts falling due within one year | 15 | 39,659 | 40,417 |
| ---------------------------- | ---------------------------- | ||
| Net current liabilities | 38,951 | 24,048 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 167,940 | 140,601 | |
| -------------------------------- | -------------------------------- | ||
| Net assets | 167,940 | 140,601 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 167,940 | 140,601 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 16 | 167,940 | 140,601 |
| ================================ | ================================ |
These financial statements were approved by the board of trustees and authorised for issue on 5 April 2024, and are signed on behalf of the board by:
R Kaufman Trustee
The notes on pages 7 to 12 form part of these financial statements.
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The C & R Charitable Trust
Notes to the Financial Statements
Year ended 5 April 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 2nd Floor, Parkgates, Bury New Road, Manchester, M25 0TL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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The C & R Charitable Trust
Notes to the Financial Statements (continued)
Year ended 5 April 2023
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Fixed asset investments are initally recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments in joint property syndicates
This represents capital introduced by the company into the syndicates plus accrued surpluses less deficiencies but without revaluing the syndicate properties.
Some of the syndicates in which the company is a participator have borrowings which are secured on the syndicate properties.
The company accounts for its syndicate investments under the 'equity accounting' basis and thus the company's share of such borrowings are not included in these
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The C & R Charitable Trust
Notes to the Financial Statements (continued)
Year ended 5 April 2023
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 25,000 | 25,000 | 6,555 | 6,555 |
| ============================ | ============================ | ======================= | ======================= | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Income from investment properties | 50,061 | 50,061 | – | – |
| Income from other investments | – | – | 63,896 | 63,896 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 50,061 | 50,061 | 63,896 | 63,896 | |
| ============================ | ============================ | ============================ | ============================ |
5. Investment income
6. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | 46,714 | 46,714 | 53,897 | 53,897 |
| Support costs | 1,008 | 1,008 | 982 | 982 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 47,722 | 47,722 | 54,879 | 54,879 | |
| ============================ | ============================ | ============================ | ============================ | |
| Expenditure on charitable activities by activity type | ||||
| Grant funding | Support | Total funds | Total fund | |
| of activities | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | 46,714 | 78 | 46,792 | 54,009 |
| Governance costs | – | 930 | 930 | 870 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | |
| 46,714 | 1,008 | 47,722 | 54,879 | |
| ============================ | ======================= | ============================ | ============================ |
7. Expenditure on charitable activities by activity type
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The C & R Charitable Trust
Notes to the Financial Statements (continued)
Year ended 5 April 2023
8. Analysis of support costs
| Analysis of | ||||
|---|---|---|---|---|
| support costs | Total 2023 | Total 2022 | ||
| £ | £ | £ | ||
| General office | 78 | 78 | 112 | |
| Governance costs | 930 | 930 | 870 | |
| ----------------------- | ----------------------- | -------------- | ||
| 1,008 | 1,008 | 982 | ||
| ======================= | ======================= | ============== | ||
| 9. | Analysis of grants | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Grants to institutions | ||||
| Amud Hatzdoka | 2,990 | 6,440 | ||
| Brongate Ltd | – | 2,000 | ||
| Gateshead Kehilloh Kollel | 1,000 | 1,000 | ||
| Gevurath Ari | 10,000 | – | ||
| Grants Under £1000 | 11,221 | 10,541 | ||
| Inkinddirect | 2,348 | – | ||
| Keren Hashmita Donation | – | 1,300 | ||
| Kolel Aliyot Eli | 10,055 | 12,500 | ||
| Kollel Chibas Yerusholayim | – | 5,000 | ||
| New OHR | 1,800 | – | ||
| North London Academy | – | 1,000 | ||
| Prince Charles In Kinid Charity | – | 2,216 | ||
| REB MEIR BAAL H | 2,300 | – | ||
| Shiras Chesed | – | 4,400 | ||
| Telz Academy | 5,000 | 7,500 | ||
| ---------------------------- | ---------------------------- | |||
| 46,714 | 53,897 | |||
| ---------------------------- | ---------------------------- | |||
| Total grants | 46,714 | 53,897 | ||
| ============================ | ============================ |
The above grants were made to institutions and went towards the following purposes; the relief of poverty, relief of those in need by reason of ill health or disability, the advancement of Jewish religion and the advancement of Jewish religious education.
10. Net losses on investments
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Gains/(losses) on investment property | – | – | (10,576) | (10,576) |
| ============== | ============== | ============================ | ============================ |
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The C & R Charitable Trust
Notes to the Financial Statements (continued)
Year ended 5 April 2023
11. Independent examination fees
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 930 | 870 |
| ============== | ============== |
12. Staff costs
Nil
Nil
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Investments
| Other | ||
|---|---|---|
| investments | ||
| £ | ||
| Cost or valuation | ||
| At 6 April 2022 | 164,649 | |
| Additions | 50,061 | |
| Disposals | (7,819) | |
| -------------------------------- | ||
| At 5 April 2023 | 206,891 | |
| ================================ | ||
| Impairment | ||
| At 6 April 2022 and 5 April 2023 | – | |
| ================================ | ||
| Carrying amount | ||
| At 5 April 2023 | 206,891 | |
| ================================ | ||
| At 5 April 2022 | 164,649 | |
| ================================ | ||
| All investments shown above are held at valuation. | ||
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Accruals and deferred income | 1,800 | 870 |
| Other creditors | 37,859 | 39,547 |
| ---------------------------- | ---------------------------- | |
| 39,659 | 40,417 | |
| ============================ | ============================ |
15. Creditors: amounts falling due within one year
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The C & R Charitable Trust
Notes to the Financial Statements (continued)
Year ended 5 April 2023
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | Gains and | At | |||
| 6 April 2022 | Income | Expenditure | losses | 5 April 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 140,601 | 75,061 | (47,722) | – | 167,940 |
| ================================ | ============================ | ============================ | ============== | ================================ | |
| At | Gains and | At | |||
| 6 April 2021 | Income | Expenditure | losses | 5 April 2022 | |
| £ | £ | £ | £ | £ | |
| General funds | 135,605 | 70,451 | (54,879) | (10,576) | 140,601 |
| ================================ | ============================ | ============================ | ============================ | ================================ | |
| Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2023 | ||||
| £ | £ | ||||
| Investments | 206,891 | 206,891 | |||
| Current assets | 708 | 708 | |||
| Creditors less than 1 year | (39,659) | (39,659) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 167,940 | 167,940 | |||
| ================================ | ================================ | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2022 | ||||
| £ | £ | ||||
| Investments | 164,649 | 164,649 | |||
| Current assets | 16,369 | 16,369 | |||
| Creditors less than 1 year | (40,417) | (40,417) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 140,601 | 140,601 | |||
| ================================ | ================================ |
17. Analysis of net assets between funds
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