2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1047323

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

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 2023

		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 11

B K Charitable Trust

Report of the Trustees for the Year Ended 31 December 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 £127,871. Total resources expended amounted to £263,604. After taking into account of the increasing valuation of investments of £209,353, the fund reserve reserves have increased by £73,620, resulting in a surplus of £51,887.

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.

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

Page 1

B K Charitable Trust

Report of the Trustees for the Year Ended 31 December 2023

Principal address

Cornbrook, 2 Brindley Road Old Trafford Manchester M16 9HQ

Trustees

Dr J M Hasleton Mrs B N Rice M Davis M M D Klyne (appointed 15.11.24)

Independent Examiner

Adam Caplan FCA Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ

Approved by order of the board of trustees on 30 January 2025 and signed on its behalf by:

Mrs B N Rice - 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 2023.

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 FCA

Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ

30 January 2025

Page 3

B K Charitable Trust

Statement of Financial Activities for the Year Ended 31 December 2023

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 107,071 Investment income 2 20,800 Total 127,871 EXPENDITURE ON Charitable activities General 3,440 Donations 260,164 Total 263,604 Net gains/(losses) on investments 209,353 NET INCOME/(EXPENDITURE) 73,620 RECONCILIATION OF FUNDS Total funds brought forward (21,733) TOTAL FUNDS CARRIED FORWARD 51,887	Restricted fund £ - - - - - - - - - -	2023 Total funds £ 107,071 20,800 127,871 3,440 260,164 263,604 209,353 73,620 (21,733) 51,887	2022 Total funds £ 228,951 17,600 246,551 2,558 243,351 245,909 (1,951) (1,309) (20,424) (21,733)

The notes form part of these financial statements

Page 4

B K Charitable Trust

Balance Sheet 31 December 2023

Unrestricted fund Notes £ FIXED ASSETS Investments Investments 6 - Investment property 7 675,000 675,000 CURRENT ASSETS Debtors 8 1,424 Cash at bank 4,407 5,831 CREDITORS Amounts falling due within one year 9 (628,944) NET CURRENT ASSETS/(LIABILITIES) (623,113) TOTAL ASSETS LESS CURRENT LIABILITIES 51,887 NET ASSETS/(LIABILITIES) 51,887 FUNDS 10 Unrestricted funds TOTAL FUNDS	Restricted fund £ - - - - - - - - - -	2023 Total funds £ - 675,000 675,000 1,424 4,407 5,831 (628,944) (623,113) 51,887 51,887 51,887 51,887	2022 Total funds £ 10,270 475,222 485,492 1,317 5,402 6,719 (513,944) (507,225) (21,733) (21,733) (21,733) (21,733)

The financial statements were approved by the Board of Trustees and authorised for issue on 30 January 2025 and were signed on its behalf by:

B N Rice - 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 2023

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 2023. Any gain or loss on revaluation is taken to the Statement of Financial Activities.

continued...

Page 6

B K Charitable Trust

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

2. INVESTMENT INCOME

Rents received GRANTS PAYABLE Donations The total grants paid to institutions during the year was as follows: Chai Network Colel Chabad Federation of Jewish Services Misaskim L'Chaim Foodbank Broughton Jewish Casel Fox Young Lubavitch Choimel Dalim Manchester Jewish School for Special Education B' Ohr Chabad Beis Menachem Beis Menechem Chabad Lubavitch Beis Menachem Shahare Chesed Beis Sorah Schenierer Seminary Bury & Whitefield Jewish Primary School Chabad Lubavitch of Bloomsbury Chabad Lubavitch of Trafford Friends of Shamir Wellsprings Chabad UK Gives Ltd Ezras Israel Friends of Ohr Meir and Bracha Hatzola Ambulance Service KKL Charitable The Friendship Circle The Helpline Others - less than £1,000	2023 £ 20,800 2023 £ 260,164 2023 £ 20,061 1,500 1,020 - 106,500 37,531 3,240 - 10,000 - - 24,152 - - - 31,300 - - 1,000 2,060 1,000 15,000 3,700 1,000 1,100 260,164	2022 £ 17,600 2022 £ 243,351	2022 £ 17,600
		2022 £ 61,920 22,400 - 1,800 72,313 9,502 1,895 1,540 - 3,100 10,180 18,512 1,000 1,000 1,800 10,000 1,000 22,300 - - - - - - 3,089
		243,351

3. GRANTS PAYABLE

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

continued...

Page 7

B K Charitable Trust

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 228,951 Investment income 17,600 Total 246,551 EXPENDITURE ON Charitable activities General 2,558 Donations 243,351 Total 245,909 Net gains/(losses) on investments (1,951) NET INCOME/(EXPENDITURE) (1,309) RECONCILIATION OF FUNDS Total funds brought forward (20,424) TOTAL FUNDS CARRIED FORWARD (21,733) FIXED ASSET INVESTMENTS There were no investment assets outside the UK. INVESTMENT PROPERTY FAIR VALUE At 1 January 2023 Revaluation At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022	Restricted fund £ - - - - - - - - - -	Total funds £ 228,951 17,600 246,551 2,558 243,351 245,909 (1,951) (1,309) (20,424) (21,733) £ 475,222 199,778 675,000 675,000 475,222

6. FIXED ASSET INVESTMENTS

7. INVESTMENT PROPERTY

The investment property has been valued at £675,000 by the Trustees of the charity. This value has been included in the financial statements at 31 December 2023.

continued...

Page 8

B K Charitable Trust

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

7. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:

Valuation in 2023 Cost	£ 199,778 475,222
	675,000

If investment property had not been revalued it would have been included at the following historical cost:

Cost 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Taxation recoverable 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1.1.23 £ Unrestricted funds General fund (21,733) TOTAL FUNDS (21,733) Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 127,871 (263,604) TOTAL FUNDS 127,871 (263,604)

2023 2022 £ £ 475,222 475,222 2023 2022 £ £ 1,261 797 163 520 1,424 1,317 2023 2022 £ £ 628,944 513,944 Net movement At in funds 31.12.23 £ £ 73,620 51,887 73,620 51,887 Gains and Movement losses in funds £ £ 209,353 73,620 209,353 73,620

continued...

Page 9

B K Charitable Trust

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.1.22 £ Unrestricted funds General fund (20,424) TOTAL FUNDS (20,424) Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 246,551 (245,909) TOTAL FUNDS 246,551 (245,909)	Net movement At in funds 31.12.22 £ £ (1,309) (21,733) (1,309) (21,733) Gains and Movement losses in funds £ £ (1,951) (1,309) (1,951) (1,309)

A current year 12 months and prior year 12 months combined position is as follows:

		Net
		movement	At
	At 1.1.22	in funds	31.12.23
	£	£	£
Unrestricted funds
General fund	(20,424)	72,311	51,887
TOTAL FUNDS	(20,424)	72,311	51,887

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 £ 374,422 374,422	Resources expended £ (509,513) (509,513)	Gains and Movement losses in funds £ £ 207,402 72,311 207,402 72,311

continued...

Page 10

B K Charitable Trust

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES

During the year donations amounting to £98,000 were made by companies in which one of the Trustees (appointed since the year end) is a director.

At the year end, loans amounting to £628,664 were due from these companies.

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 2023 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 11