**REGISTERED CHARITY NUMBER: 1047323**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 December 2020**
**for**
**B K Charitable Trust**
Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ
**B K Charitable Trust**
**Contents of the Financial Statements for the Year Ended 31 December 2020**
|||**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|10|
**B K Charitable Trust**
## **Report of the Trustees for the Year Ended 31 December 2020**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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 principal object of the charity is the furtherance of orthodox Jewish education, relief of poverty and any other charitable activity. The charity is to apply the income and all such part or parts of the capital at such time or times and in such manner to or for the benefit of such exclusively charitable objects and purposes in any part of the world as the Trustees may in their discretion think fit.
## **Public benefit**
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit.
## **Grantmaking**
The intention is to utilise the income from the funds to make grants and donations to various charitable causes known to the Trustees or in respect of which the Trustees may receive specific applications. In certain cases capital sums may be distributed as well.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year, the charity's incoming resources amounted to £115,727. Total resources expended amounted to £114,529. After taking into account of the increase in valuation of investments of £5,735, the fund reserve reserves have increased by £6,933 reducing its deficit from £28,153 to a deficit of £21,220..
During the year, the charity made available its investment property for use by another charity on a rent free basis.
## **Investment performance**
In accordance with the Trust Deed, the Trustees have the power to invest in stocks, shares, investments and properties in the UK as they see fit. The Trustees consider that the performance of investments during the year was satisfactory and the objectives of the charity have been met.
The Trustees have absolute discretion in determining the selection of investments for the Trust.
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the aim of the charity to maintain unrestricted funds at a level sufficient to enable it to continue to operate and meet day to day running costs.
At 31st December 2020 the charity had a deficit in its reserves of £21,220 (2019: £28,153). Since the year end the charity has refurbished the property and have rented the property at its full market rental value, in an effort to eliminate the deficit.
It has also been actively seeking donations.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is constituted by the Trust Deed dated 30 May 1995 and registered with the Charity Commission under charity number 1047323.
## **Recruitment and appointment of new trustees**
The management of the charity is responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
1047323
## **Principal address**
Cornbrook, 2 Brindley Road Old Trafford Manchester M16 9HQ
Page 1
**B K Charitable Trust**
## **Report of the Trustees for the Year Ended 31 December 2020**
## **Trustees**
Z Klyne Mrs R Klyne Y S Klyne (resigned 24.5.21) Dr J M Hasleton (appointed 24.5.21)
## **Independent Examiner**
Adam Caplan ACA Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ
Approved by order of the board of trustees on 26 October 2021 and signed on its behalf by:
Z Klyne - Trustee
Page 2
## **Independent Examiner's Report to the Trustees of B K Charitable Trust**
## **Independent examiner's report to the trustees of B K Charitable Trust**
I report to the charity trustees on my examination of the accounts of B K Charitable Trust (the Trust) for the year ended 31 December 2020.
## **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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Adam Caplan ACA Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ Date: .............................................
Page 3
**B K Charitable Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2020**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
115,726
Investment income
2
1
**Total**
115,727
**EXPENDITURE ON**
**Charitable activities**
General
9,233
Donations
105,296
**Total**
114,529
Net gains on investments
5,735
**NET INCOME**
6,933
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
(28,153)
**TOTAL FUNDS CARRIED FORWARD**
(21,220)|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-|2020
Total
funds
£
115,726
1
115,727
9,233
105,296
114,529
5,735
6,933
(28,153)
(21,220)|2019
Total
funds
£
95,972
-
95,972
637
76,275
76,912
1,359
20,419
(48,572)
(28,153)|
|---|---|---|---|
The notes form part of these financial statements
Page 4
## **B K Charitable Trust**
## **Balance Sheet 31 December 2020**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
**Investments**
Investments
6
16,017
Investment property
7
407,847
423,864
**CURRENT ASSETS**
Debtors
8
2,087
Cash at bank
4,709
6,796
**CREDITORS**
Amounts falling due within one year
9
(451,880)
**NET CURRENT ASSETS/(LIABILITIES)**
(445,084)
**TOTAL ASSETS LESS CURRENT LIABILITIES**
(21,220)
**NET ASSETS/(LIABILITIES)**
(21,220)
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-|2020
Total
funds
£
16,017
407,847
423,864
2,087
4,709
6,796
(451,880)
(445,084)
(21,220)
(21,220)
(21,220)
(21,220)|2019
Total
funds
£
10,281
401,573
411,854
10,662
1,211
11,873
(451,880)
(440,007)
(28,153)
(28,153)
(28,153)
(28,153)|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2021 and were signed on its behalf by:
Z Klyne - Trustee
The notes form part of these financial statements
Page 5
**B K Charitable Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2020**
## **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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **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.
## **Investment property**
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in 'net gains/ (losses) on investment' in the SOFA.
## **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.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **Valuation of investments**
All investments are valued at their market value at 31 December 2020. Any gain or loss on revaluation is taken to the Statement of Financial Activities.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||||
|---|---|---|---|---|
||2020||2019||
||£||£||
|Deposit account interest||1||-|
Page 6
continued...
**B K Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020**
## **3. GRANTS PAYABLE**
|Donations
The total grants paid to institutions during the year was as follows:
Chai Network
Friends of Shamir
Colel Chabad
Broughton Jewish Opportunities Fund
L'Chaim
L'Chaim Foodbank
Broughton Jewish Casel Fox
Others - less than £1,000
Leginuni
North Manchester Jewish Cemetries
Young Lubavitch|2020
£
105,296
2020
£
42,650
-
7,400
4,121
-
45,300
-
2,820
-
1,800
1,205
105,296|2019
£
76,275|
|---|---|---|
|||2019
£
18,900
2,600
21,950
-
22,700
-
5,313
3,800
1,012
-
-|
|||76,275|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
Restricted
fund
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
95,972
-
**EXPENDITURE ON**
**Charitable activities**
General
637
-
Donations
76,275
-
**Total**
76,912
-
Net gains on investments
1,359
-
**NET INCOME**
20,419
-
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
(48,572)
-
**TOTAL FUNDS CARRIED FORWARD**
(28,153)
-|Total
funds
£
95,972
637
76,275
76,912
1,359
20,419
(48,572)
(28,153)|
|---|---|
continued...
Page 7
**B K Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020**
## **6. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Listed|
||investments|
||£|
|**MARKET VALUE**||
|At 1 January 2020|10,281|
|Revaluations|5,736|
|At 31 December 2020|16,017|
|**NET BOOK VALUE**||
|At 31 December 2020|16,017|
|At 31 December 2019|10,281|
|There were no investment assets outside the UK.||
|Investments comprise listed securities on the AIM amounting to £10,281.||
|The historic cost of the investments at 31 December 2020 is £536,250||
|**INVESTMENT PROPERTY**||
||£|
|**FAIR VALUE**||
|At 1 January 2020|401,573|
|Additions|6,274|
|At 31 December 2020|407,847|
|**NET BOOK VALUE**||
|At 31 December 2020|407,847|
|At 31 December 2019|401,573|
## **7. INVESTMENT PROPERTY**
In the opinion of the trustees, the market value of the investment property is not materially different from the amounts stated in the financial statements.
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Other debtors
Taxation recoverable|2020
£
220
1,867
2,087|2019
£
10,000
662|
|||10,662|
continued...
Page 8
**B K Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
115,727
**TOTAL FUNDS**
115,727
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|2020
2019
£
£
451,880
451,880
Net
movement
At
At 1.1.20
in funds
31.12.20
£
£
£
(28,153)
6,933
(21,220)
(28,153)
6,933
(21,220)
Resources
Gains and
Movement
expended
losses
in funds
£
£
£
(114,529)
5,735
6,933
(114,529)
5,735
6,933
Net
movement
At
At 1.1.19
in funds
31.12.19
£
£
£
(48,572)
20,419
(28,153)
(48,572)
20,419
(28,153)|2019
£
451,880|2019
£
451,880|
|---|---|---|---|
||||(28,153)|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|95,972|(76,912)|1,359|20,419|
|**TOTAL FUNDS**|95,972|(76,912)|1,359|20,419|
continued...
Page 9
**B K Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.1.19|in funds|31.12.20|
||£|£|£|
|**Unrestricted funds**||||
|General fund|(48,572)|27,352|(21,220)|
|**TOTAL FUNDS**|(48,572)|27,352|(21,220)|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
211,699
211,699|Resources
expended
£
(191,441)
(191,441)|Gains and
Movement
losses
in funds
£
£
7,094
27,352
7,094
27,352|Gains and
Movement
losses
in funds
£
£
7,094
27,352
7,094
27,352|
|---|---|---|---|---|
|||||27,352|
## **11. RELATED PARTY DISCLOSURES**
At 31 December 2020, there was a balance of £451,600 (2019: £451,600) due to a company in which some of the trustees are directors.
During the year donations amounting to £91,500 were made by companies in which some of the trustees are directors.
## **12. ULTIMATE CONTROLLING PARTY**
The charity is jointly controlled by the trustees.
## **13. GOING CONCERN**
The charity's financial statements for the year ended 31 December 2020 have been prepared on a going concern basis as, after making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
Page 10