Charity number 1047728
KANFEI YONA CHARITABLE TRUST
Report and Accounts
30 June 2022
KANFEI YONA CHARITABLE TRUST Charity Information
Trustees
J Posen D S Adler J Adler
Reporting Accountants
David Pollak Whiteside Accountants 158 Cromwell Road Salford M6 6DE
Bankers
Lloyds Bank Plc 17 Ellison Walk Gateshead NE8 1BF
Charity number
1047728
Charity offices
7 Ashgrove Terrace Gateshead Tyne & Wear NE8 1RL
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KANFEI YONA CHARITABLE TRUST
Trustees report for the year ended 30th June 2022
The trustees are pleased to present the annual report of the charity for the year ended 30th June 2022.
CHARITY REGISTRATION NO: 1047728
REGISTERED ADDRESS: 7 Ashgrove Terrace Gateshead Tyne & Wear NE8 1RL
TRUSTEES Trustees who served during the year were as follows:
J Posen D S Adler J Adler
Constitution, Objects and Policies
The charity is constituted as a charitable trust and is therefore governed by a trust deed.
The charity's objects are to help young people, with grants to alleviate poverty, running youth programs and to promote theological and Talmudic research, including assistance with the provision of educational facilities as will enable the students to become Rabbis, Ministers, Readers and Hebrew teachers for the Jewish Community. The charity may also help necessitate students pursue their studies by means of scholarships and grants.
In the furtherance of these charitable objects, the charity is able to raise funds and invite and receive from any person or persons whatsoever by way of subscription, donation and otherwise, provided that the charity does not undertake any permanent trading activities in raising funds for their charitable objects.
Achievements and performance
The charity supported a number of causes. In total £29,913 (2021 - £64,735) was donated.
Investment Policy and Returns
Under the trust deed, the charity has the power to make any investment which the trustees see fit.
How Our Activities Achieve Public Benefit
The Charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities detailed above provide benefit to the public.
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KANFEI YONA CHARITABLE TRUST Trustees report cont. for the year ended 30th June 2022
Information Technology
The charity continues to invest in technology suitable to improve its performance in the charity sector.
Review of the Result and Reserves Policy
The trustees consider that the results set out in the attached accounts are satisfactory. They are of the opinion that the balance on the reserves are sufficient to meet any future commitments under the terms of funding.
It is the policy of the charity to maintain unrestricted funds at a level which covers current commitments under the terms of their funding.
Statutory Requirements
The financial statements have been prepared in accordance with the Statement of Recommended Practice for charities, the Charities Act, FRS 102 and the governing document.
Risk Management
The trustees have examined the major strategic, business and operational risks that the charity faces and confirm that systems have been established to enable regular reviews to be carried out so that necessary steps can be taken to lessen these risks.
Description of Organisation
The day to day management of the charity is administered by the trustees.
Recruitment and appointment of new trustees is in line with the trust deed, objectives of the charity and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
Financial Review
Income has increased over the year by £43,730.
Direct charitable expenditure has decreased by £34,822. Some overheads and non-direct costs are borne by the trustees.
The trustees report a surplus of £24,020 during the year (see below)
Funds raised in previous years have been distributed during the year.
Funds are available to permit the charity to continue in operation in the medium to long term and to continue to fund worthwhile projects.
Arrangements are in hand to continue to raise funds to finance the charity's activities and projects.
Reserves as stated in the accounts are as follows:
| Designated funds Non designated funds Restricted funds Total |
- 55,260 - 55,260 |
|---|---|
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KANFEI YONA CHARITABLE TRUST Trustees report cont. for the year ended 30th June 2022
Statement of Trustees' Responsibilities
Charity Law requires the trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the Charity as at the Balance Sheet date and of its surplus or deficit for that year. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make adjustments and estimates that are reasonable and prudent;
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state whether the policies adopted are in accordance with the relevant legislation and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time its financial position and to ensure that the financial statements comply with the Statement of Recommended Practice, Accounting and Reporting by Charities SORP (March 2005), applicable accounting standards and the Charities Act. They are also responsible for safeguarding its assets and hence for taking reasonable steps for the prevention of fraud and other irregularities.
Reporting Accountants
A resolution for the reappointment of Accounts & Business Solutions will be proposed at the forthcoming general meeting.
On Behalf of the Board of Trustees:
________ J Adler
10 March 2023
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KANFEI YONA CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 June 2022
| Notes Unrestricted 2022 Incoming Resources £ Grants received Donations 54,655 1 54,655 Resources expended Direct Charitable expenditure 2 29,985 Governance costs 2a 650 Total resources expended 30,635 Net incoming resources before other recognised (gains)/losses 24,020 Funds B/F 3 31,240 Funds C/F 3 55,260 |
Restricted 2022 £ - - - - - - |
Total 2022 £ - 54,655 54,655 29,985 650 30,635 24,020 31,240 55,260 |
Total 2021 £ - 10,925 10,925 64,807 600 65,407 (54,482) 85,722 31,240 |
|---|---|---|---|
The accompanying notes form part of these accounts.
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KANFEI YONA CHARITABLE TRUST Balance Sheet as at 30 June 2022
| Notes Current assets Debtors 3,000 Cash and bank and in hand 54,510 57,510 Creditors: Amounts falling due within one year 7 (2,250) Net current assets Total assets less current liabilities Net assets Funds Unrestricted funds 3 / 8 Restricted funds 3 Approved by the board on 10/03/2023 J Adler Trustee |
2022 £ 55,260 55,260 55,260 55,260 55,260 |
2021 £ 32,840 32,840 (1,600) 31,240 31,240 31,240 31,240 31,240 |
|---|---|---|
The accompanying notes form part of these accounts.
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KANFEI YONA CHARITABLE TRUST Notes to the Accounts for the year ended 30 June 2022
1 ACCOUNTING POLICIES
The financial statements have been prepared under the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014.
Incoming Resources
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~ Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
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~ Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
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~ Grants and investment income are reflected in the accounts when receivable.
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~ Grants which relate to a specified future period are deferred.
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~ Donations, gifts and other income are reflected in the accounts when received.
Resources Expended
All expenditure other than that capitalised has been reflected in the Statement of Financial Activities on an accruals basis.
Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountants fees and costs linked to the strategic management of the charity.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of events for fundraising purposes.
Taxation
The organisation is exempt from income tax by reason of its charitable status. Income tax suffered on investment income is reclaimed in full.
Trustees remuneration and expenses
No remuneration, directly or indirectly out of the funds of the charity, was paid or payable, to any trustee or to any persons known to be connected with any of them.
No reimbursement of expenses has been made, or is due to be made, to any of the trustees in respect of the period.
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KANFEI YONA CHARITABLE TRUST Notes to the Accounts for the year ended 30 June 2022
1 ACCOUNTING POLICIES Cont.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value, unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less accumulated impaired loss. Changes in fair value are recorded in the profit and loss account.
Restricted and unrestricted funds
Restricted funds are those funds which have been donated for specified restricted purposes and are held in separate funds. Unrestricted funds are those which are used at the discretion of the trustees.
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KANFEI YONA CHARITABLE TRUST Notes to the Accounts
for the year ended 30 June 2022
| 1 Incoming Resources Donations 2 Direct charitable expenditure Grants & charitable support Legal and consultants fees Bank charges Wages and salaries 2a Governance costs Independent examiner's fee 3 Funds As at 1st July 2021 Incoming resources Outgoing resources Funds at 30th June 2022 |
2022 Unrestricted £ 54,655 54,655 Unrestricted 2022 £ 29,913 72 - 29,985 Unrestricted 2022 £ 650 Unrestricted 2022 31,240 54,655 (30,635) 55,260 |
2022 Restricted £ - Restricted 2022 £ - - Restricted 2022 £ - Restricted 2022 - - - |
2022 Total 2022 £ 54,655 54,655 Total 2022 £ 29,913 72 - 29,985 Total 2022 £ 650 Total 2022 31,240 54,655 (30,635) 55,260 |
2021 Total 2021 £ 10,925 10,925 Total 2021 £ 64,735 72 0 64,807 Total 2021 £ 600 Total 2021 85,722 10,925 (65,407) 31,240 |
|---|---|---|---|---|
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KANFEI YONA CHARITABLE TRUST Notes to the Accounts for the year ended 30 June 2022
| 4 Resources Expended This is stated after charging: Independent examiner's fees |
2022 £ 650 |
2022 £ 600 |
|---|---|---|
5 Wages & salaries
No salaries, wages or expenses were paid to trustees during the year. No employee received emoluments.
| 7 | Creditors: Amounts falling due within | 2022 2021 |
|---|---|---|
| one year | £ £ |
|
| Trade creditors | 2,250 1,600 |
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KANFEI YONA CHARITABLE TRUST Notes to the Accounts for the year ended 30 June 2022
| 8 Funds - Unrestricted Funds As at 1st July 2021 Incoming resources Outgoing resources Funds at 30th June 2022 Non designated funds |
2022 £ 31,240 54,655 (30,635) 55,260 2022 £ 55,260 55,260 |
2021 £ 85,722 10,925 (65,407) 31,240 2021 £ 31,240 31,240 |
|---|---|---|
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