THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
ANNUAL REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2022
THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
INDEX TO THE ANNUAL REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2022
| Page | |
|---|---|
| 1 | Trustees' Report |
| 2 | Trustees' Resonsibilities |
| 3 | Independent Examiner's Report |
| 4 | Statement of Financial Activities |
| 5 | Balance Sheet |
| 6 | Notes |
| 7 | Schedule of charitable donations |
THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
TRUSTEES' REPORT
Charity registration number: 801622 Principal address: 4 Turner Drive Hampstead Garden Suburb London NW11 6TX. Charities Governing Document: Charitable Trust Deed dated 3rd June 1988 Trustees: Mr S.M. James and Mrs S.R. James Independent Examiner: David Pumfrey FCA Simmons Gainsford LLP 14th Floor 33 Cavendish Square London W1G 0PW. Bankers: CAF Bank 25 Kings Hill Avenue, Kings Hill West Malling Kent ME19 4JQ.
The trustees have pleasure in presenting their report together with the financial statements for the year ended 31 December 2022 and confirm that;
-
they have been prepared in accordance with the accounting policies set out in the notes to the financial statements;
-
they comply with the charity's governing document;
-
they comply with The Charities Act 2011;
-
they comply with Accounting and Reporting by Charities: Statemeent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
Appointment of trustees
The settlor of the Trust, Mr S.M. James, has the sole power to appoint and remove trustees.
Aims and organisation
The trustees have absolute discretion to pay the income or capital of the Trust Fund to charities to be used solely for charitable purposes. They have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
Review of progress and achievements
The trustees continue to consider applications for donations from numerous charities and make donations to selected charities as shown in the annexed financial statements.
Review of financial activities and affairs
Details of the Trust's income and expenditure for the year and its position at the year end is as shown in the annexed financial statements. The income of the trust is derived from the trustees.
Policy on reserves
At the year end, the charity had unrestricted reserves of £66,187 (2021: £16,957).
The charity's reserve is a general purpose fund held for the long term commitments and obligations of the Trust to be used when donations paid out exceed incoming resources.
Assessment of risk
The trustees have considered the major risks to which the charity is exposed and have put in place a system to mitigate these risks.
S.M. James Trustee
15 September 2023
-1-
THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Trustees' Annual 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 the incoming rescources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable accounting standards 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 to operate.
The trustees are responsible for keeping sufficient accounting records which 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.
-2-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
I report to the trustees on my examination of the financial statements of The Susan & Stephen James Charitable Settlement (‘the charity’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related Notes.
This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. 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 this 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, for this report, or for the opinions I have formed.
Responsibilities and basis of the 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 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.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
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:
-
(a) accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
(b) the financial statements do not accord with those records; or
-
(c) 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 financial statements to be reached.
David Pumfrey FCA Independent Examiner Simmons Gainsford LLP 14th Floor
33 Cavendish Square London W1G 0PW.
15 September 2023
-3-
THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2022
| General | unrestricted | funds | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Income | ||||
| Gifts of listed investments | 133,947 | 48,522 | ||
| Donations | 40,000 | 50,000 | ||
| Bank interest received | 118 | 2 | ||
| Total income | 174,065 | 98,524 | ||
| Expenditure on charitable activities | ||||
| Grants payable to institutions (see page 7) | 121,305 | 101,813 | ||
| Governance costs | ||||
| Independent examiner's remuneration | 3,144 | 3,144 | ||
| Insurance | 302 | - | ||
| Bank charges | 84 | 100 | ||
| Total expenditure | 124,835 | 105,057 | ||
| Net expenditure for the year | 49,230 | (6,533) | ||
| Balance brought forward | 16,957 | 23,490 | ||
| Balance carried forward | £ | 66,187 | £ | 16,957 |
-4-
THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
BALANCE SHEET AS AT 31ST DECEMBER 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Current assets | ||||
| Balances at bank | 69,867 | 20,637 | ||
| 69,867 | 20,637 | |||
| Creditors | ||||
| Amounts falling due within one year | ||||
| Accruals | (3,680) | (3,680) | ||
| Net assets | £ | 66,187 | £ 16,957 | |
| Represented by: | ||||
| Unrestricted funds | £ | 66,187 | £ 16,957 | |
| Approved by the trustees: | ||||
| S.M. James | ||||
| S.R. James | ||||
| 15 September 2023 |
-5-
THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2022
1 Accounting policies
Basis of preparation
The charity is a public benefit entity and these financial statements have been prepared 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) (effective 1 January 2015). The financial statements are for an individual entity.
Income and expenditure
Income and expenditure is accounted for on the accruals basis.
Going concern
There are no uncertainties regarding going concern
2 Trustees' remuneration and expenses
No remuneration was paid or payable either directly or indirectly out of the funds of the Charity for the year to any of the Trustees or to any person or persons known to be connected with any of them.
No reimbursement of expenses has been made or is due to be made to any of the Trustees in respect of the year.
3 Related party transactions
The total aggregate value of unconditional gifts of shares and donations received from the Trustees was £173,947 (2021: £98,522).
-6-
THE SUSAN & STEPHEN JAMES CHARITABLE SETTLEMENT
GRANTS PAYABLE TO INSTITUTIONS
FOR THE YEAR ENDED 31ST DECEMBER 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Breakaway | 900 | 860 |
| Chai Cancer Care | 10,350 | 12,500 |
| Community Security Trust | 20,000 | 20,000 |
| Food Bank Aid | 250 | - |
| Future Dreams | - | 250 |
| Grief Encounter | 2,500 | 500 |
| Heart Cells Foundation | 5,000 | 5,000 |
| Holocaust Educational Trust | 10,000 | 10,000 |
| Israel Guide Dog Centre | - | 800 |
| JCOSS | 1,700 | - |
| Jewish Blind & Disabled | 10,000 | - |
| Jewish Care | 25,000 | 20,250 |
| Jewish Childs Day | - | 750 |
| Jewish Womens Aid | 500 | - |
| JW3 | 5,000 | 5,000 |
| Langdon Foundation | 250 | - |
| Lifelites | 1,000 | 1,000 |
| Magan David Adom UK | - | 1,000 |
| MFPA Trust | 100 | - |
| MSA Trust | 250 | - |
| Nightingale Hammerson | 10,520 | - |
| Norwood | 5,000 | 13,500 |
| United Synagogue | 2,485 | 2,403 |
| Wizo | 500 | 500 |
| World Jewish Relief | 10,000 | 7,500 |
| £ 121,305 | £ 101,813 |
-7-