Registered number: 10237698
Charity number: 1169323
(A Company Limited by Guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 JUNE 2023
Trustees
Page 1
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2023
The Trustees present their annual report together with the audited financial statements of The Debra Reiss Foundation (the 'Company') for the year 1 July 2022 to 30 June 2023. The Annual Report serves the purposes of both a Trustees' Report and a Directors' Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. POLICIES AND OBJECTIVES
The principal objectives of the charity as set out in the governing document are:
∙To assist in such ways as the charity thinks fit any charity whose aims include advancing education of persons in the UK or worldwide by developing their individual capabilities, competences, skills and understanding in subjects of educational value or in developing their mental, physical and moral capabilities through leisure time activities.
∙To relieve poverty or financial hardship in the UK or worldwide by providing grants, items and services to individuals in need and/or charities or other organisations working to relieve poverty.
∙To develop the capability and skills of socially disadvantaged communities in the UK in such a way that they are better able to identify and help meet their needs and to participate more fully in society by the support of and providing grants and donations to charities whose objectives include these aims.
∙To promote public health in the UK and worldwide for the benefit of the public by providing assistance and grants to other charities and organisations working in the field of medical research and advancement; and
∙To promote humane behaviour towards animals by assisting or providing donations or grants to charity or organisation which is providing donations or grants to any charity or organisation which is providing appropriate care, protection, treatment and security or animals which are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage and to educate the public in matters pertaining to animal welfare and the prevention of cruelty and suffering among animals.
b. PUBLIC BENEFIT
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
Achievements and performance
a. REVIEW OF ACTIVITIES
Historic donations and subsequent income received was invested across 3 investment funds during 2023 (2022: 3).
There are 3 investment funds in place at the year end. In addition, funds have been invested into bridging loan facilities of which there are 2 in place at the year end. Donations to other charities totalled £9,075 (2022: £8,288). It is expected that further donations will be made in 2024 for the furtherance of the charity's objectives. The charity also undertook charitable activities directly including donating items to a local homeless shelter through the Synagogue Food Bank as well as donating footwear to various schools in Brent, Barnet and Harringay. Costs incurred relating to this activities totalled £58,176.
b. INVESTMENT POLICY AND PERFORMANCE
The Trustees have considered the options available and have decided to invest the funds they have received by way of donations in commercial common investment funds as well as other funding solutions to obtain long term return on investments.
Trustees closely monitor the performance of investments and make changes as neessary. Risk profiles are agreed with each investment fund in advance.
Financial review
a. GOING CONCERN
b. RESERVES POLICY
The total funds held at the year end are £7,067,494 (2022: £6,995,769). All funds are unrestricted.
c. PRINCIPAL FUNDING
The principal funding of the Company has the investment income received on funds arising from donations made in earlier periods. It is intended that these funds should assist with the charitable purpose of the charity for a number of years.
d. MATERIAL INVESTMENTS POLICY
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
Structure, governance and management
a. CONSTITUTION
The Company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 17 June 2016.
The Company's charitable number is 1169323 and its registered company number is 10237698. The Company is registered at the following address: First Floor White Lion House 64a Highgate High Street London N6 5HX
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
Trustees are appointed at the discretion of the acting trustees at the Annual General Meeting.
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
d. PAY POLICY FOR SENIOR STAFF
e. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Trustees who served during the year were as follows: D. A. Reiss R. J. Reiss (deceased 22 January 2024) D. R. Reiss The Company's auditors are Wilder Coe Ltd, Chartered Accountants & Statutory Auditors, 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL.
f. RISK MANAGEMENT
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
Plans for future periods
The Debra Reiss Foundation predominantly donates brand new clothing essentials to underprivileged primary school children in the local areas. For example, last Autumn/Winter we gave out over 2,500 keep warm kits which included a hat, snood, thermal vest, gloves, all in a re-usable bag. We also donated thousands of brand new trainers, plimsols and fleece lined winter jackets depending on the need of the schools. In the future we are looking to expand the amount of donations and give out more essential clothing to those in need. This Autumn we have, so far in the schedule, a plan to donate over 2,500 Winter Jackets and thousands of trainers and plimsols. We are looking to also give out our keep warm kits and now have a handful volunteers who will help us with the packing. We currently work with both Haringey and Barnet councils and other local charities like Sebby’s Corner. We are looking to expand the areas we donate to and are in talks with Camden council to see where we can be of help. In addition to helping primary schools in the local areas, we will continue to donate to other UK based charities in line with the charitable objectives.
TRUSTEES' RESPONSIBILITIES STATEMENT
DISCLOSURE OF INFORMATION TO AUDITORS
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
∙so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
∙that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
AUDITORS
The auditors, Wilder Coe Ltd, have indicated their willingness to continue in office. The Designated Trustees will propose a motion re-appointing the auditors at a meeting of the Trustees.
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the Trustees on
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION
We have audited the financial statements of The Debra Reiss Foundation (the 'charitable company') for the year ended 30 June 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Trustees' Report has been prepared in accordance with applicable legal requirements.
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Trustees' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit; or
∙the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being of significance to the entity:
∙Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, company law, and charity legislation.
∙Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; review of minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE DEBRA REISS FOUNDATION (CONTINUED)
This report is made solely to the charitable company's members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditors
1st Floor Sackville House
143-149 Fenchurch Street
London
EC3M 6BL
Date:
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 JUNE 2023
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
REGISTERED NUMBER: 10237698
BALANCE SHEET
AS AT 30 JUNE 2023
The financial statements were approved and authorised for issue by the Trustees on
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
The Debra Reiss Foundation (company number: 10237698), having its registered office and principal place of business at First Floor, White Lion House, 64a Highgate High Street, London, United Kingdom, N6 5HX, is a private charitable company limited by guarantee incorporated in England and Wales.
2.ACCOUNTING POLICIES
The Company is a company limited by guarantee. The members of the Company are the Trustees named on page 1. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £10 per member of the Company.
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated professional services and facilities are recognised on reciept, on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain the services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of reciept.
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
2.ACCOUNTING POLICIES (CONTINUED)
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the bank.
The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
2.ACCOUNTING POLICIES (CONTINUED)
The charitable company is exempt from the requirement to produce a Statement of Cash Flows on the grounds that it is a small charity.
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
9.ANALYSIS OF EXPENDITURE BY ACTIVITIES (continued)
ANALYSIS OF DIRECT COSTS (continued)
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
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THE DEBRA REISS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
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