**Charity number: 800186**
## **THE LEVY FAMILY CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2021**
## **THE LEVY FAMILY CHARITABLE TRUST**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 - 15|
**THE LEVY FAMILY CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2021**
|**Trustees**|Lord M A Levy|
|---|---|
||Lady G Levy|
||D E Levy|
||Miss J B Levy|
|**Charity registered**
**number**
800186
**Principal office**
Chase House
Nan Clarks Lane
London
NW7 4HH
**Accountants**
Berg Kaprow Lewis LLP
Chartered Accountants
35 Ballards Lane
London
N3 1XW
**Investment advisors**
Walker Crips Group (UK) plc
128 Queen Victoria Street
London
EC4V 4BJ||
Page 1
**THE LEVY FAMILY CHARITABLE TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2021**
The trustees present their report with the financial statements of the charity for the year ended 5 April 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**
## **a. Policies and objectives**
The charity's objects are to maintain, support or contribute towards such one or more exclusively charitable purposes of charitable companies, institutions, associations, trusts and societies in the United Kingdom or elsewhere in the world.
The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning for the future and in setting the grant making policy for the year.
## **b. Activities undertaken to achieve objectives**
The charity has established its grant making policy to achieve its objectives for the public benefit.
## **Achievements and performance**
## **a. Review of activities**
In the year, 20 (2020: 27) charitable grants were made totalling £48,840 (2020: £66,740).
## **b. Investment policy and performance**
The charity's powers to invest its funds are set out in the charity's governing instrument. Any monies not immediate required for the furtherance of the charity's objects may be invested at the discretion of the trustees. There are no restrictions on the trustees' power to invest funds.
The net movement in funds fo the year amounted to a surplus of £71,428 (2020: deficit of £112,604). All funds are unrestricted and amounted to £177,281 (2020: £105,853) at the balance sheet date. Unrealised gains from investments amounted to £22,568 (2020: a loss of £45,673).
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The charity is not a functional charity having operational staff and fixed overheads therefore the trustees consider that it is not necessary to set a reseves policy.
Page 2
**THE LEVY FAMILY CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021**
## **Structure, governance and management**
## **a. Constitution**
The charity was established by a trust deed dated 22 february 1988 for the benefit of such charitable purposes or charitable institutions as the trustees shall think fit.
## **b. Methods of appointment or election of Trustees**
TUnder the terms of the deed, the settlor has the power to appoint new trustees during his lifetime and thereafter the power vests with the trustees. New trustees are appointed under a deeds signed and approved by the existing trustees.
The existing trustees are responsible for the induction of any new trustees which would involve an awareness of a trustee's responsibilities, the governing document, administrative procedures, and the history and philosophy of the charity. A new trustee would receive a welcome pack which includes copies of the previous year's annual report and accounts, a brief history of the charity and a copy of the governing document. The pack would also include a copy of the Charity Commission guidance "The Essential Trustee: What you need to know" and "Charities And Public Benefit".
## **c. Organisational structure and decision-making policies**
The trustees are responsible for strategy and policy and all major decisions taken by the trustees.
Day to day activities are co-ordinated by the charity's administrators, as it emplys no staff.
## **d. Conflicts of interest**
The trustees have systems in place to identify any conflicts of interest that may occur. When a conflict of interest arises, the relevant trustee or trustees agree to withdraw from any discussion and decision making.
## **e. Risk management**
The trustees examine the major risks that the charity face every financial year and have developed systems to monitor and control these risks to mitigate any impact they may have on the charity in the future.
## **Plans for future periods**
The trustees intend to continue their policy of making grants to the charitable purposes which fall within the objects of the charity.
Page 3
**THE LEVY FAMILY CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021**
## **Statement of Trustees' responsibilities**
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 & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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 Charity (Accounts and Reports) Regulations 2008 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.
Approved by order of the members of the board of trustees and signed on their behalf by:
................................................
## **Lord M A Levy**
Date: 10 January 2022
Page 4
## **THE LEVY FAMILY CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2021**
## **Independent Examiner's Report to the Trustees of The Levy Family Charitable Trust ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2021.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 10 January 2022
Ian Saunderson FCA
## **Berg Kaprow Lewis LLP**
Chartered Accountants London
Page 5
## **THE LEVY FAMILY CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021**
|**Note**
**Income from:**
Donations and legacies
2
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds before other recognised**
**gains/(losses)**
**Other recognised gains/(losses):**
Gains/(losses) on revaluation of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**100,000**
**100,000**
**51,140**
**51,140**
**48,860**
**22,568**
**71,428**
**105,853**
**71,428**
**177,281**|**Total**
**funds**
**2021**
**£**
**100,000**
**100,000**
**51,140**
**51,140**
**48,860**
**22,568**
**71,428**
**105,853**
**71,428**
**177,281**|_Total_
_funds_
_2020_
_£_
_-_
_-_
_66,931_
_66,931_
_(66,931)_
_(45,673)_
_(112,604)_
_218,457_
_(112,604)_
_105,853_|
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
Page 6
**THE LEVY FAMILY CHARITABLE TRUST**
## **BALANCE SHEET AS AT 5 APRIL 2021**
|**Note**
**Fixed assets**
Investments
7
**Current assets**
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
10
Unrestricted funds
10
**Total funds**|**20,000**
**52,558**
**72,558**
**(1,800)**|**2021**
**£**
**106,523**
**106,523**
**70,758**
**177,281**
**177,281**
**-**
**177,281**
**177,281**|_-_
_11,879_
_11,879_
_-_|_2020_
_£_
_93,974_|
|---|---|---|---|---|
|||||_93,974_
_11,879_|
|||||_105,853_|
||||||
|||||_105,853_|
|||||_-_
_105,853_|
||||||
|||||_105,853_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **Lord M A Levy**
Date: 10 January 2022
The notes on pages 8 to 15 form part of these financial statements.
Page 7
**THE LEVY FAMILY CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Levy Family Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Going concern**
The Charity has minimal fixed costs, with the main source of expenditure being grants made to institutions which can be made at the discretion of the Trustees. Furthermore, the Charity had a healthy cash balance at the year end. The Trustees therefore feel it is appropriate to prepare the financial statements on a going concern basis.
## **1.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 8
**THE LEVY FAMILY CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **1. Accounting policies (continued)**
## **1.5 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **1.9 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Page 9
## **THE LEVY FAMILY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **2. Income from donations and legacies**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2021**|**2021**|_2020_|
||**£**|**£**|_£_|
|Donations|100,000|**100,000**|_-_|
## **3. Analysis of grants**
|Grants paid
_Total 2020_|**Grants to**
**Institutions**
**2021**
**£**
48,840
_66,740_|**Total**
**funds**
**2021**
**£**
**48,840**
_66,740_|_Total_
_funds_
_2020_
_£_
_66,740_|
|---|---|---|---|
|||||
Page 10
**THE LEVY FAMILY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **3. Analysis of grants (continued)**
The Charity has made the following material grants to institutions during the year:
|**Name of institution**
Community Security Trust
Hatzola Edgware
Jami
JLGB
Kol Nidre Appeal
Norwood Ravenswood
Overcoming Multiple Sclerosis
Sense ( National Deafblind and Ruebella Association)
Women's Interfaith Network
Mill Hill Synagogue
Wellbeing of Women
Jewish Council for Racial Equality
45 Aid Society
ETZ Chain School
Kisharon
The Work Avenue Foundation
Seed
MMK
Other donations of less than £1,000 each|**2021**
**£**
**5,000**
**2,000**
**2,000**
**10,000**
**1,000**
**10,000**
**5,000**
**1,050**
**10,000**
**540**
**-**
**-**
**500**
**-**
**-**
**-**
**-**
**-**
**1,750**
**48,840**|_2020_
_£_
_5,000_
_1,000_
_-_
_10,000_
_1,000_
_-_
_5,000_
_10,000_
_10,000_
_2,340_
_1,000_
_1,000_
_1,000_
_5,000_
_1,000_
_1,000_
_1,000_
_10,000_
_1,400_|
|---|---|---|
||||
|||_66,740_|
Page 11
**THE LEVY FAMILY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **4. Analysis of expenditure by activities**
|Direct costs - grants paid
Support costs
_Total 2020_|**Grant**
**funding of**
**activities**
**2021**
**£**
48,840
-
48,840
_66,740_|**Support**
**costs**
**2021**
**£**
-
2,300
2,300
_191_|**Total**
**funds**
**2021**
**£**
**48,840**
**2,300**
**51,140**
_66,931_|_Total_
_funds_
_2020_
_£_
_66,740_
_191_|
|---|---|---|---|---|
|||||_66,931_|
||||||
## **Analysis of support costs**
|**Activities**
**2021**
**£**
Accountancy fees
2,280
Bank charges
20
2,300
_Total 2020_
_191_
**5.**
**Independent examiner's remuneration**
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts|**Total**
**funds**
**2021**
**£**
**2,280**
**20**
**2,300**
_191_
**2021**
**£**
**1,800**|_Total_
_funds_
_2020_
_£_
_180_
_11_|
|---|---|---|
|||_191_|
|||_2020_
_£_
_-_|
Page 12
## **THE LEVY FAMILY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **6. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ .
During the year, no Trustee expenses have been incurred _(2020 - £NIL)_ .
## **7. Fixed asset investments**
|**Cost or valuation**
At 6 April 2020
Disposals
Revaluations
At 5 April 2021
**Net book value**
At 5 April 2021
_At 5 April 2020_
**8.**
**Debtors**
**Due within one year**
Gift Aid receivable
**9.**
**Creditors: Amounts falling due within one year**
Accruals and deferred income|**Listed**
**investments**
**£**
**41,588**
**-**
**22,568**
**64,156**
**64,156**
_41,588_|**Cash and**
**settlements**
**pending**
**£**
**52,387**
**(10,020)**
**-**
**42,367**
**42,367**
_52,387_
**2021**
**£**
**20,000**
**20,000**
**2021**
**£**
**1,800**|**Cash and**
**settlements**
**pending**
**£**
**52,387**
**(10,020)**
**-**
**42,367**
**42,367**
_52,387_
**2021**
**£**
**20,000**
**20,000**
**2021**
**£**
**1,800**||**Total**
**£**
**93,975**
**(10,020)**
**22,568**
**106,523**
**106,523**
_93,975_
_2020_
_£_
_-_|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
||||**20,000**||_-_|
||||**2021**
**£**
**1,800**||_2020_
_£_
_-_|
Page 13
**THE LEVY FAMILY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **10. Statement of funds**
## **Statement of funds - current year**
||**Balance at 6**|||**Gains/**|**Balance at 5**|
|---|---|---|---|---|---|
||**April 2020**|**Income**|**Expenditure**|**(Losses)**|**April 2021**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General Funds - all funds|**105,853**|**100,000**|**(51,140)**|**22,568**|**177,281**|
|**Statement of funds - prior**|**year**|||||
||_Balance at_|||_Gains/_|_Balance at_|
||_1 April 2019_|_Income_|_Expenditure_|_(Losses)_|_5 April 2020_|
||_£_|_£_|_£_|_£_|_£_|
|**Unrestricted funds**||||||
|General Funds - all funds|_218,457_|_-_|_(66,931)_|_(45,673)_|_105,853_|
## **11. Analysis of net assets between funds Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2021**
**£**
Fixed asset investments
106,523
Current assets
72,558
Creditors due within one year
(1,800)
**Total**
177,281|**Total**
**funds**
**2021**
**£**
**106,523**
**72,558**
**(1,800)**
**177,281**|
|---|---|
Page 14
**THE LEVY FAMILY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **11. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Fixed asset investments
Current assets
**Total**|_Unrestricted_
_funds_
_2020_
_£_
_93,974_
_11,878_
_105,852_|_Total_
_funds_
_2020_
_£_
_93,974_
_11,878_|
|---|---|---|
|||_105,852_|
## **12. Related party transactions**
During the year, donations of £80,000 (2020: £Nil) were received from the trustees. Gift Aid of £20,000 (2020: £Nil) was claimed on these donations).
During the year, a grant of £10,000 (2020: £10,000) was paid to Women's Interfaith Network, a charity with a common trustee.
Page 15