The trustees present their annual report and financial statements for the year ended 31 December 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)
The charitable purposes for which the Charity is established are for the charitable benefit of the Beneficiary Group and by such charitable means as the Trustees decide:
To relieve those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage
To further education.
The Beneficiary Group means those Survivors who are or were part of the group of c732 Survivors of the Nazi persecution of the Jewish people who came to the United Kingdom during the period 1945 - 1947, or spouses or partners of those Survivors or bloodline descendants of those Survivors.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The Society was delighted to hold its annual fund raising dinner ("the Reunion Dinner") this year in May.
Fundraising was achieved with the help of generous donors.
The Society also continued to receive a limited number of voluntary subscriptions.
Alongside its annual Reunion Dinner along with the concurrent brochure sponsorship, the normal principal source of income for the Society, a number of generous donors continued to provide financial support.
The level of reserves remains healthy and running costs have been managed carefully. It is anticipated that the current level of reserves will allow the Society to fund most of the projects currently being worked on.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
In line with previous years, the Society has continued to support charities and other organisations that promote Holocaust education and memorial.
Society funds are held in interest bearing accounts.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity is a company limited by guarantee without share capital. In the event of the charity being wound up, each member has undertaken to contribute to the assets, such amount as may be required, not exceeding £1.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Trustees can be nominated by any member of the Board of Trustees to replace a trustee stepping down.
Appointment of newly nominated Trustees requires unanimous approval of all Trustees
The new trustee is provided with details of trustees’ roles and responsibilities under charity and company law as well as the Charity Commission guidance on public benefit. Training as such is not provided as no trustee has felt it to be necessary. At meetings, there is always room for questions and explanations.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the companies Act 2006.
By order of the Board
I report on the financial statements of the charity for the year ended 31 December 2022, which are set out on pages 4 to 10.
The charity’s trustees, who are also the directors of 45 Aid Society Limited for the purposes of company law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
examine the financial statements under section 145 of the 2011 Act;
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
In connection with my examination, no matter has come to my attention:
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities(FRS102);
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
45 Aid Society Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 27 Mortimer Street, London, W1T 3BL.
The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The accounts present a true and fair view and no changes have been made to the principal accounting policies adopted below.
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
The charity received money mainly through donations and events occurring with in the year.
Income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
Costs are accounted for when they are incurred, with irrecoverable VAT being charged as a cost against the relevant activity.
Costs of charitable activities relate to the furtherance of the charities objectives.
Costs of raising funds relate to events and other activities through which the charity raises its profile.
Administration costs represent the running costs of the charity which are charged to the income and expenditure account in the period when they are incurred. They are included wholly within the costs of Charitable Activities.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Subscription income
Reunion income
Printing, postage and stationery
Website costs
Bank charges
Accountancy
Profit/Loss on foreign exchange
Public relations
Charitable donations
Legal and professional
Events costs
Filming costs
The average monthly number of employees during the year was:
There were no disclosable related party transactions during the year (2021 - none).