REGISTERED CHARITY NUMBER: 1002408
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024
for
BRIDGE LANE BETH HAMEDRASH GEMACH FUND
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
BRIDGE LANE BETH HAMEDRASH GEMACH FUND
Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
BRIDGE LANE BETH HAMEDRASH GEMACH FUND
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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
Objectives and aims
The objects of the charity, as detailed in the Trust Deed, are the relief of poverty, advancement of education in the orthodox Jewish Faith and such other purposes as are recognised by English law as charitable among members of the Jewish community in North West London.
Significant activities
The charity has continued to provide grants to needy individuals and plans to continue to provide such grants going forward.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity commission's general guidance to public benefit when reviewing the charity's aims and objectives and in planning future activities.
Grantmaking
Grants are made to needy individuals and charitable institutions after it has been satisfied that payments will accord with the objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity has had a successful year, raising £97,470 (2023: £122,146) in donations, and making grants totalling £97,049 (2023: £95,580) to needy individuals and £2,355 (2023: £1,041) to charitable organisations that further the objectives of the charity.
As at the balance sheet date the charity had unrestricted funds of £58,832 (2032: £67,331) which the trustees consider satisfactory.
Internal and external factors
There are no specific factors to report.
FINANCIAL REVIEW
Principal funding sources
The principal funding sources are donations from individuals and companies.
The present level of funding is adequate to meet the trustees objectives. The trustees consider the financial position of the charity to be satisfactory.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Membership of the Charity is open to any individual who applies to the charity in the form required by the Trustees and is approved by the trustees.
Organisational structure
The company has 3 trustees; names of members are listed above. The charity is organised so that the trustees meet regularly to manage the affairs of the company.
Risk management
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 major risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1002408
Page 1
BRIDGE LANE BETH HAMEDRASH GEMACH FUND
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024
Principal address
44 Bridge Lane London NW11 0EG
Trustees
Mr S Feldman Mr D Rosenthal Mr D C Weissbart
Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 10 November 2024 and signed on its behalf by:
Mr D Rosenthal - Trustee
Page 2
Independent Examiner's Report to the Trustees of Bridge Lane Beth Hamedrash Gemach Fund
Independent examiner's report to the trustees of Bridge Lane Beth Hamedrash Gemach Fund
I report to the charity trustees on my examination of the accounts of Bridge Lane Beth Hamedrash Gemach Fund (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
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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.
Mr Aryeh Melinek, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
12 November 2024
Page 3
BRIDGE LANE BETH HAMEDRASH GEMACH FUND
Statement of Financial Activities
FOR THE YEAR ENDED 31 MARCH 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 97,470 Investment income 2 445 Total 97,915 EXPENDITURE ON Charitable activities Charitable activities 106,414 NET INCOME/(EXPENDITURE) (8,499) RECONCILIATION OF FUNDS Total funds brought forward 67,331 TOTAL FUNDS CARRIED FORWARD 58,832 |
2023 Total funds £ 122,146 35 122,181 104,216 17,965 49,366 67,331 |
|---|---|
The notes form part of these financial statements
Page 4
BRIDGE LANE BETH HAMEDRASH GEMACH FUND
Balance Sheet 31 MARCH 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Debtors 5 12,970 Cash at bank and in hand 55,082 68,052 CREDITORS Amounts falling due within one year 6 (9,220) NET CURRENT ASSETS 58,832 TOTAL ASSETS LESS CURRENT LIABILITIES 58,832 NET ASSETS 58,832 FUNDS Unrestricted funds 58,832 TOTAL FUNDS 58,832 |
2023 Total funds £ 14,532 56,959 71,491 (4,160) 67,331 67,331 67,331 67,331 67,331 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 10 November 2024 and were signed on its behalf by:
Mr D Rosenthal - Trustee
The notes form part of these financial statements
Page 5
BRIDGE LANE BETH HAMEDRASH GEMACH FUND
Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from 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. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 445 | 35 |
continued...
Page 6
BRIDGE LANE BETH HAMEDRASH GEMACH FUND
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
3. GRANTS PAYABLE
| Charitable activities | 2024 £ 99,404 |
2023 £ 96,621 |
|---|---|---|
During the year the charity made grants to needy individuals totalling £97,049 (2023: £95,580) and to institutions totalling £2,355 (2023: £1,041).
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
6.
| Other debtors CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2024 £ 12,970 2024 £ 9,220 |
2023 £ 14,532 |
2023 £ 14,532 |
|---|---|---|---|
| 2023 £ 4,160 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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