The Gefrin Trust - Charities report - 19.1
The Gefrin Trust - Charities report - 19.1
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 8 DECEMBER 2018 |
| FOR |
| THE GEFRIN TRUST |
| THE GEFRIN TRUST |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 8 DECEMBER 2018 |
| Page |
| Report of the Trustees | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 to 7 |
| THE GEFRIN TRUST (REGISTERED NUMBER: 05306702) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 8 DECEMBER 2018 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial |
| statements of the charity for the year ended 8 December 2018. 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 2015). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The Charity's Objective is for the preservation and conservation of the scheduled ancient monument known as Yeavering or Ad |
| Gefrin and the advancement of education in all aspects relating to the history and importance of the site for public benefit. |
| FINANCIAL REVIEW |
| Principal funding sources |
| The Charity is primarily reliant on Environmental Stewardship grants from Natural England. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited |
| company, limited by guarantee, as defined by the Companies Act 2006. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Council Officer |
| Teacher |
| Archaeologist (Retired) |
| Retired |
| University Lecturer |
| Archaelogist |
| Retired |
| University Lecturer |
| University Lecturer |
| Principle Advisor, English Heritage |
| Approved by order of the board of trustees on |
| THE GEFRIN TRUST |
| STATEMENT OF FINANCIAL ACTIVITIES |
| FOR THE YEAR ENDED 8 DECEMBER 2018 |
| 2018 | 2017 |
| Unrestricted funds |
Total funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 18,758 |
| THE GEFRIN TRUST (REGISTERED NUMBER: 05306702) |
| BALANCE SHEET |
| AT 8 DECEMBER 2018 |
| 2018 | 2017 |
| Unrestricted funds |
Total funds |
| Notes | £ | £ |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 5 |
| Unrestricted funds | 20,407 | 18,758 |
| TOTAL FUNDS | 18,758 |
| The charitable company is entitled to exemption from audit under |
| Section 477 of the Companies Act 2006 for the year ended 8 December 2018. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 8 December 2018 in |
| accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 |
| relating to charitable small companies. |
| The financial statements were approved by the Board of Trustees on |
| THE GEFRIN TRUST |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 8 DECEMBER 2018 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, 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 2015)', Financial Reporting Standard 102 'The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. 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. |
| Taxation |
| The charity is exempt from corporation 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. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 8 December 2018 nor for the year ended |
| 8 December 2017. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 8 December 2018 nor for the year ended 8 December 2017. |
| 3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted funds |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| THE GEFRIN TRUST |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 8 DECEMBER 2018 |
| 3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted funds |
| £ |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 19,795 |
| TOTAL FUNDS CARRIED FORWARD | 18,758 |
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Accrued expenses |
| 5. | MOVEMENT IN FUNDS |
At 9.12.17 |
Net movement in funds |
At 8.12.18 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 8,758 | 1,649 | 10,407 |
| Research and conservation fund | 4,000 | - | 4,000 |
| Publicity and educational fund | 6,000 | - | 6,000 |
| 1,649 |
| TOTAL FUNDS | 1,649 | 20,407 |
| THE GEFRIN TRUST |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 8 DECEMBER 2018 |
| 5. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,409 | (760 | ) | 1,649 |
| TOTAL FUNDS | ( |
) | 1,649 |
| Comparatives for movement in funds |
At 9.12.16 |
Net movement in funds |
At 8.12.17 |
| £ | £ | £ |
| Unrestricted Funds |
| General fund | 9,795 | (1,037 | ) | 8,758 |
| Research and conservation fund | 4,000 | - | 4,000 |
| Publicity and educational fund | 6,000 | - | 6,000 |
| 19,795 | (1,037 | ) | 18,758 |
| TOTAL FUNDS | 19,795 | (1,037 | ) | 18,758 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 741 | (1,778 | ) | (1,037 | ) |
| TOTAL FUNDS | 741 | (1,778 | ) | (1,037 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
At 9.12.16 |
Net movement in funds |
At 8.12.18 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 9,795 | 612 | 10,407 |
| Research and conservation fund | 4,000 | - | 4,000 |
| Publicity and educational fund | 6,000 | - | 6,000 |
| TOTAL FUNDS | 19,795 | 612 | 20,407 |
| THE GEFRIN TRUST |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 8 DECEMBER 2018 |
| 5. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 3,150 | (2,538 | ) | 612 |
| TOTAL FUNDS | 3,150 | (2,538 | ) | 612 |
| 6. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 8 December 2018. |