REGISTERED CHARITY NUMBER: 1048311
FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 8 |
FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES Rabbi Y Karlinski M M Grun M Z Rapoport PRINCIPAL ADDRESS 33 Montpelier Rise London NW11 9DT REGISTERED CHARITY 1048311 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS Barclays Bank Plc Kingsland London E8 2JT
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FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 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).
REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives for public benefit
The objects of the charity are; the relief of poverty and the advancement of the education amongst members of the Orthodox Jewish faith, in the UK and abroad.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Achievement and performance
Although there was a 9% increase in income the trustees increased grantmaking by about 28% this left a deficit for the year which was funded by reserves held.
FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £321 (2022 - £8,524).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitution
The charity is constituted and governed by Declaration of Trust dated 25 July 1995
Recruitment and appointment of new trustees
The day-to-day affairs of the company are administered by the trustees. There are three trustees one of whom lives abroad but maintains regular contact to discuss the affairs of the charity.
It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
Approved by order of the board of trustees on 16 October 2023 and signed on its behalf by:
M M Grun - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
Independent examiner's report to the trustees of Friends of Nachalat Osher Charitable Trust
I report to the charity trustees on my examination of the accounts of Friends of Nachalat Osher Charitable Trust (the Trust) for the year ended 31 March 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
E Meyer FCA BSc
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
16 October 2023
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FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 119,747 EXPENDITURE ON Charitable activities 2 Grantmaking 127,200 Support 750 Total 127,950 NET INCOME/(EXPENDITURE) (8,203) RECONCILIATION OF FUNDS Total funds brought forward 8,524 TOTAL FUNDS CARRIED FORWARD 321 |
2022 Total funds £ 109,354 99,300 720 100,020 9,334 (810) 8,524 |
|---|---|
The notes form part of these financial statements
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FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
BALANCE SHEET 31 MARCH 2023
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2023 2022 Total Total funds funds £ £ 1,071 9,244 (750) (720) 321 8,524 321 8,524 321 8,524 321 8,524 321 8,524 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 October 2023 and were signed on its behalf by:
M M Grun - Trustee
The notes form part of these financial statements
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FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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.
Income
Donations are accounted for when received. All other income is recognised on a receivable basis.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. CHARITABLE ACTIVITIES COSTS
| Grantmaking Support |
Grant funding of activities (see note 3) £ 127,200 - 127,200 |
Support costs (see note 4) £ - 750 750 |
Totals £ 127,200 750 |
|---|---|---|---|
| 127,950 |
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FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
3. GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| Grantmaking The total grants paid to institutions during the year was as follows: Advancement of education All grants were to Yeshivas Be'er Avrohom |
2023 £ 127,200 2023 £ 127,200 |
2022 £ 99,300 |
| 2022 £ 99,300 |
||
4. SUPPORT COSTS
| SUPPORT COSTS | ||
|---|---|---|
| Governance | ||
| costs | ||
| £ | ||
| Support | 750 | |
| Support costs, included in the above, are as follows: | ||
| Governance costs | ||
| 2023 | 2022 | |
| Total | ||
| Support | activities | |
| £ | £ | |
| Independent examiner's fee | 375 | 360 |
| Independent examiner's other fees | 375 | 360 |
| 750 | 720 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
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FRIENDS OF NACHALAT OSHER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other creditors | 750 | 720 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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