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2021-03-31-accounts

KESSER CHARITIES LIMITED LIMITED BY GUARANTEE DIRECTORS’ AND TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Company No. 2532062 (England and Wales)

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KESSER CHARITIES LIMITED

Company Information

Directors and Trustees

Gabriel Rothbart Bernard J. Lebrecht Hyman Weiss

Secretary

Secretary H. Weiss Company Number 2532062 (England and Wales)

Registered Office

B Olsberg & Co Chartered Accountants and Statutory Auditors Enterprise House 3 Middleton Road Manchester M8 5DT

Charity Registration Number 1009126 Independent Examiner

B Olsberg & Co Chartered Accountants and Statutory Auditors Enterprise House 3 Middleton Road Manchester M8 5DT

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KESSER CHARITIES LIMITED

Contents

Report of the trustees and directors 3
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8
Independent Examiner’s Report 10

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KESSER CHARITIES LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees of the charity present their annual report under the Charities Act 2011 and the financial statements for the year ended 31 March 2021 and confirm that the latter comply with the requirements of the Act, the Trust Deed and the Charities SORP 2005.

REFERENCE AND ADMINISTRATIVE INFORMATION

The Charity was incorporated under the name Kesser Charities Limited on 19 December 1994 (formerly Beis Yoel Charity Limited incorporated 17 August 1990) and is registered with the Charity Commission under charity number 1009126. The Trustees, directors, secretary and principal addresses of the Charity are as listed on page 1.

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association dated 17 August 1990 which has not been amended.

GOVERNING BODY

The structure of the Charity consists of three trustees who are also directors of the company and a company secretary. The board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing trustee.

ORGANISATIONAL MANAGEMENT

The Trustees of the Charity, are legally responsible for the overall management and control of the Charity and meet regularly.

RISK MANAGEMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that an annual review of the controls over key financial systems, will be sufficient to ensure continuity in the event of adverse conditions.

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

The charity is constituted as a company limited by guarantee and its objects are to encourage and support the furtherance of Orthodox Jewish Religious Education.

The charity is organised so that the trustees meet regularly to manage its affairs. The charity is not dependent on voluntary assistance. Administration of the charity is dealt with by the trustees.

It is intended to continue with the Charities activities.

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KESSER CHARITIES LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

PUBLIC BENEFIT

The trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity’s aims and objectives and in planning future activities and setting grant making policy for the year.

AIMS AND INTENDED IMPACT

Within these objects, the trustee's aim to continue to provide funds for educational purposes.

OBJECTIVES FOR THE YEAR

The aim this year is to continue to give support to educational activities.

STRATEGIES TO ACHIEVE THE YEAR'S OBJECTIVES

These included meetings with potential donors to obtain funds.

PRINCIPAL ACTIVITIES OF THE YEAR

The charity collected funds during the year which were sufficient to meet its needs.

GRANT MAKING POLICY

The policy is to provide funds for the running of an educational establishment known as Yeshivas Kesser Torah.

REVIEW AND ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR FINANCIAL REVIEW

Transactions and Financial Position

The Statement of Financial Activities shows a total income of £76,200 (2020 - £112,660) and resources expended were £101,812 leaving a net deficit of £25,612 for the year. (2020 – deficit £8,276)

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

The Trustees consider that the performance of the charity this year has been satisfactory. There were no significant changes in the year. The nature of the expenses were in line with the constitution and objects of the charity.

This is in line with the wishes of the Trustees who constantly review the effectiveness of the charity and approve the scope of their activities.

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KESSER CHARITIES LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

RESERVES POLICY

The trustees intend to fully commits the funds to Yeshivas Kesser Torah.

INVESTMENT POLICY AND OBJECTIVES

Under the Trust Deed the charity has the power to make any investment which the trustees see fit but no investments are currently held.

FUTURE PLANS

The trustee's plans are to continue to collect donations for its objectives.

ACCOUNTING AND REPORTING RESPONSIBILITIES

The trustees are required by Charity law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper 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. 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.

Approval

The report was approved by the board of directors and trustees on 16 March 2022 and signed on its behalf.

H Weiss

Trustee

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KESSER CHARITIES LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
INCOME RESOURCES
Donations Received
RESOURCES EXPENDED
Charitable Distributions
Sundry Expenses
Depreciation
ADMINISTRATION
Accountancy
Professional fees
TOTAL RESOURCES EXPENDED
NET (DEFICIT)/ INCOME
FUND BALANCE BROUGHT FORWARD
AT 1 APRIL 2020
FUND BALANCE CARRIED FORWARD
AT 31 MARCH 2021		 2021

£
76,200
100,554
-
658
101,212
600
-
101,812
(25,612)
108,937
83,325		 2020
£
112,660
116,951
43
822
117,816
960
2,160
120,936
(8,276)
117,213
108,937

There were no recognised gains and losses for 2021 and 2020 other than those included in above Statement of Financial Activities.

The notes form part of these accounts

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KESSER CHARITIES LIMITED BALANCE SHEET AS AT 31 MARCH 2021

FIXED ASSETS
Tangible assets for use by the charity
CURRENT ASSETS
Bank
Debtors
CREDITORS
Amounts due within one year
Net Current Assets
Payable after one year
Net Assets

FUNDS
Unrestricted Income
Note

2

3

4


4


 2021

£

77,409
33,211
25,325
58,536
(2,620)
55,916

(50,000)
83,325
83,325		 2020
£
78,067
7,705
25,325
33,030
(2,160)
30,870
108,937
108,937

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The Accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small company’s regime.

The notes form part of these financial statements.

These accounts were approved by the Trustees on 16 March 2022

………….………………………………………… Trustee

H Weiss

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KESSER CHARITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

1.1 Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005) and the Charities Act 1993.

1.2 Income

Voluntary income, contributions and donations are accounted for as received by the charity. No permanent endowments have been received in the year.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided for at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:-

Furniture and Equipment
20% per annum reducing
Religious Artefacts
NIL
Building Improvements
NIL
2.
Tangible Fixed Assets
Furniture & Religious Building

Equipment Artefacts Improvements
Cost
£
£
£
At 1 April 2020
9,664
35,866
63,999
Additions in year
- -
-
As at 31 March 2021 9,664 35,866
63,999
Depreciation
At 1 April 2020 6,374
-
25,088

Charge for the year
658
_-_
-

At 31 March 2021 7,032
 - _
25,088

Net Book Value
At 31 March 2021
2,632
35,866
38,911

At 31 March 2020
3,290
35,866
38,911		 balance basis

Total
£
109,529
-
109,529
31,462
658
32,120
77,409
78,067




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KESSER CHARITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

3.
Debtors
Loan
Prepayments
Income Tax recoverable
4.
Creditors;Amounts falling due within one year
Accruals
Bank Loan		 2021
£
16,002
1,093
8,230
25,325
2021
£
2,620
50,000
52,620		 2020
£
16,002
1,093
8,230
25,325
2020
£
2,160
-
2,160


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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF KESSER CHARITIES LIMITED

I report on the financial statements of the Trust for the year ended 31 March 2021 which are set out on pages 3-9.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. 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. The Charity is required by law to prepare accrued accounts and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants (England and Wales).

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:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner’s 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

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

B OLSBERG 16 March 2022

B OLSBERG & CO CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS 3 MIDDLETON RD M8 5DT

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