REGISTERED CHARITY NUMBER: 328731
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2020
for
Adar Charitable Trust
Martin+Heller 5 North End Road London NW11 7RJ
Adar Charitable Trust
Contents of the Financial Statements for the Year Ended 31 October 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
Adar Charitable Trust
Report of the Trustees for the Year Ended 31 October 2020
The trustees present their report with the financial statements of the charity for the year ended 31 October 2020. 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
The charity was established to support the advancement of education, the relief of poverty, religious activities and such other charitable purposes which trustees may determine are connected with the above clause.
Significant activities
There are no significant activities to report.
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.
Volunteers
During the year, the charity did not have any volunteers to help with the objective of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity this year has been satisfactory.
Internal and external factors
The trustees have made full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
FUTURE PLANS
There are no significant future development to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Wider network
The charity operates throughout England and Wales.
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
328731
Principal address
64 Ballards Lane London N3 2BU
Trustees
A C Becker J Hager
Page 1
Adar Charitable Trust
Report of the Trustees for the Year Ended 31 October 2020
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ J Hager - Trustee
Page 2
Independent Examiner's Report to the Trustees of Adar Charitable Trust
Independent examiner's report to the trustees of Adar Charitable Trust
I report to the charity trustees on my examination of the accounts of Adar Charitable Trust (the Trust) for the year ended 31 October 2020.
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.
Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Adar Charitable Trust
Statement of Financial Activities for the Year Ended 31 October 2020
| 31.10.20 | 31.10.19 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 100,549 | 2,630 | |
| Investment income | 2 | 20,016 | 16,224 |
| Total | 120,565 | 18,854 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Grants made | - | 10,200 | |
| Other | 28,300 | 12,627 | |
| Total | 28,300 | 22,827 | |
| NET INCOME/(EXPENDITURE) | 92,265 | (3,973) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 304,480 | 308,453 | |
| TOTAL FUNDS CARRIED FORWARD | 396,745 | 304,480 |
The notes form part of these financial statements
Page 4
Adar Charitable Trust
Balance Sheet 31 October 2020
| Notes FIXED ASSETS Investment property 5 CURRENT ASSETS Investments 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.10.20 Unrestricted fund £ 619,835 1 11,159 11,160 (15,340) (4,180) 615,655 (218,910) 396,745 396,745 396,745 |
31.10.19 Total funds £ 468,905 1 20,928 20,929 (14,823) 6,106 475,011 (170,531) 304,480 304,480 304,480 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
J Hager - Trustee
The notes form part of these financial statements
Page 5
Adar Charitable Trust
Notes to the Financial Statements for the Year Ended 31 October 2020
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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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 | ||
|---|---|---|
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| Rents received | 20,000 | 16,200 |
| Deposit account interest | 16 | 24 |
| 20,016 | 16,224 |
Page 6
continued...
Adar Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
5.
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 2,630 |
| Investment income | 16,224 |
| Total | 18,854 |
| EXPENDITURE ON | |
| Charitable activities | |
| Grants made | 10,200 |
| Other | 12,627 |
| Total | 22,827 |
| NET INCOME/(EXPENDITURE) | (3,973) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 308,453 |
| TOTAL FUNDS CARRIED FORWARD | 304,480 |
| INVESTMENT PROPERTY | |
| £ | |
| FAIR VALUE | |
| At 1 November 2019 | 468,905 |
| Additions | 150,930 |
| At 31 October 2020 | 619,835 |
| NET BOOK VALUE | |
| At 31 October 2020 | 619,835 |
| At 31 October 2019 | 468,905 |
continued...
Page 7
Adar Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
| 6. CURRENT ASSET INVESTMENTS 31.10.20 £ Unlisted investments 1 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.10.20 £ Bank loans and overdrafts (see note 9) - Other creditors 15,340 15,340 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.10.20 £ Bank loans (see note 9) 220,177 Other creditors (1,267) 218,910 9. LOANS An analysis of the maturity of loans is given below: 31.10.20 £ Amounts falling due within one year on demand: Bank loans - Amounts falling between one and two years: Bank loans - 1-2 years - Amounts falling due between two and five years: Bank loans - 2-5 years - Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 220,177 |
31.10.19 £ 1 |
|
|---|---|---|
| 31.10.19 £ 7,262 7,561 14,823 31.10.19 £ 170,531 - |
||
| 170,531 | ||
| 31.10.19 £ 7,262 |
||
| 7,262 | ||
| 21,786 | ||
| 141,483 |
continued...
Page 8
Adar Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
10. MOVEMENT IN FUNDS
| At 1/11/19 £ Unrestricted funds General fund 304,480 TOTAL FUNDS 304,480 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 120,565 TOTAL FUNDS 120,565 Comparatives for movement in funds At 1/11/18 £ Unrestricted funds General fund 308,453 TOTAL FUNDS 308,453 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 18,854 TOTAL FUNDS 18,854 |
Net movement At in funds 31/10/20 £ £ 92,265 396,745 92,265 396,745 Resources Movement expended in funds £ £ (28,300) 92,265 (28,300) 92,265 Net movement At in funds 31/10/19 £ £ (3,973) 304,480 (3,973) 304,480 Resources Movement expended in funds £ £ (22,827) (3,973) (22,827) (3,973) |
|---|---|
continued...
Page 9
Adar Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/11/18 £ 308,453 308,453 |
Net movement in funds £ 88,292 88,292 |
At 31/10/20 £ 396,745 |
|---|---|---|---|
| 396,745 |
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 £ 139,419 139,419 |
Resources Movement expended in funds £ £ (51,127) 88,292 (51,127) 88,292 |
Resources Movement expended in funds £ £ (51,127) 88,292 (51,127) 88,292 |
|---|---|---|---|
| 88,292 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2020.
Page 10