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THE SEPHARDI CENTRE LIMITED (A Company Limited by Guarantee)
CONTENTS
| Page | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Reference and | Administrative | Details ofthe Company, its Trustees and Advisers 1 |
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| Trustees' Report | 2~~-~~3 | |||||||||||||
| Independent Examiner's Report | 4 | |||||||||||||
| Statement of Financial Activities | 5 | |||||||||||||
| Balance Sheet | 6 | |||||||||||||
| NotestotheFinancial | Statements | 7~~-~~16 |
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THE SEPHARDI CENTRE LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustees present their annual report together with the financial statements of the The Sephardi Centre Limited for the period from 1 October 2024 to 30 September 2025. 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
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’ ~~.~~
The charity's objectives are to operate a centre for Jewish cultural education as well as publishing and circulating reading material related to Jewish cultural and religious education ~~.~~ There has been no change in these objectives during the financial year ~~.~~
Achievements and performance
a. Review of activities
During the year the charity held or financially supported a number of events to promote Jewish cultural and religious education, in accordance with its objectives ~~.~~
Financial review
a ~~.~~ Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies ~~.~~
b. Reserves policy
The Charity is currently a sel ~~f-~~ funding charity ~~.~~ The Trustees do not consider that it would be prudent or efficient at present for the Charity to spend money on fund ~~-r~~ aising ~~.~~ It therefore relies on internal resources to fund its work ~~.~~ The Charity has in place a reserves policy whereby adequate reserves are maintained taking into account its analysis of future needs and opportunities in its area of operation and having regards to expectations of its future levels of income and expenditure. The levels of reserves and the reserves policy are reviewed annually by the Board of Directors ~~.~~ At year end the Charity has reserves of £33,198 (2024 : £28,889).
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ðïñïîñîðîë
THE SEPHARDI CENTRE LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Restricted | Unrestricted | Unrestricted | Total | Total | Total | Total | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||||||||||||||||||||
| 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Note | £ | £ | £ | £ | |||||||||||||||||||||||
| Income from: | |||||||||||||||||||||||||||
| Donations and legacies | 2 | ~~-~~ | 25,000 | 25,000 | ~~-~~ | ||||||||||||||||||||||
| Investments Total income Expenditure on: |
3 | ~~-~~ ~~-~~ |
653 25,653 |
653 25,653 |
1,318 1,318 |
||||||||||||||||||||||
| Charitable activities: | 4 | ||||||||||||||||||||||||||
| Other charitable activities | 775 | 20,569 | 21,344 | 7,098 | |||||||||||||||||||||||
| Total expenditure | 775 | 20,569 | 21,344 | 7,098 | |||||||||||||||||||||||
| Netmovement | in funds | (775) | 5,084 | 4,309 | (5,780) | ||||||||||||||||||||||
| Reconciliation | offunds: | ||||||||||||||||||||||||||
| Total | funds brought | forward | 22,771 | 6,118 | 28,889 | 34,669 | |||||||||||||||||||||
| Net movement in | funds | (775) | 5,084 | 4,309 | (5,780) | ||||||||||||||||||||||
| Totalfunds | carried | forward | 21,996 | 11,202 | 33,198 | 28,889 |
The Statement of Financial Activities includes all gains and losses recognised in the year ~~.~~
The notes on pages 7 to 16 form part of these financial statements.
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THE SEPHARDI CENTRE LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
- Accounting policies
1 ~~.~~ 1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Sephardi Centre Limited meets the definition of a public benefit entity under FRS 102 ~~.~~ Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1 ~~.~~ 2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes ~~.~~
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund ~~.~~ The aim and use of each restricted fund is set out in the notes to the financial statements ~~.~~
Investment income, gains and losses are allocated to the appropriate fund ~~.~~
- 1 ~~.~~ 3 Income
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.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable ~~.~~
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THE SEPHARDI CENTRE LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1. Accounting policies (continued)
1 ~~.~~ 4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use ~~.~~
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs ~~.~~
All expenditure is inclusive of irrecoverable VAT.
1 ~~.~~ 5 Interest receivable
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 institution with whom the funds are deposited.
1 ~~.~~ 6 Cash at bank and in hand
Cash at bank and in hand includes cash and short ~~-~~ term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1 ~~.~~ 7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide ~~.~~
Provisions are measured at the best estimate of the amounts required to settle the obligation ~~.~~ Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre ~~-~~ tax discount rate that reflects the risks specific to the liability ~~.~~ The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost ~~.~~
1 ~~.~~ 8 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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