REGISTERED CHARITY NUMBER: 1054938
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2022
for
Yephess Charitable Trust
Martin+Heller 5 North End Road London NW11 7RJ
Yephess Charitable Trust
Contents of the Financial Statements for the Year Ended 5 April 2022
| 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 |
| Detailed Statement of Financial Activities | 11 |
Yephess Charitable Trust
Report of the Trustees for the Year Ended 5 April 2022
The trustees present their report with the financial statements of the charity for the year ended 5 April 2022. 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 charity's objective and its principal activity continue to be that of the promotion of the orthodox jewish faith and the relief of poverty.
Significant activities
The charity received £68,097 as its investment income during the year and donations of £30,000.
Public benefit
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.
Grantmaking
Grants are made to charitable institutions and organisations which accord with the objects of the Charity.
ACHIEVEMENT AND PERFORMANCE
Internal and external factors
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
FINANCIAL REVIEW
Financial position
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from the income received from the investments.
Reserves policy
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
The trustees plan to maximise the level of income received whilst continuing to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The trustees have no beneficial interest in the company as it is a company limited by guarantee and are chosen by agreement of trustees at an annual meeting. The choice is based on applcant,s business and community knowledge.
New trustees are subject to trustee induction training which includes an understanding of the content of the governing document their legal obligations under the Charity Act, the organisational structure of charity and the recent financial performanceof the charity. Trustees are encouraged to attend appropriate external training events which enhance their knowledge and skill thereby improving the performance of teir role.
Risk management
The trustees have a duty to identify and review the risks to which the charityis exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
Yephess Charitable Trust
Report of the Trustees for the Year Ended 5 April 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1054938
Principal address 44 Wargrave Avenue London N15 6UB
Trustees
P Kraus Mrs E D Kraus D Kraus
Independent Examiner Adrian Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ P Kraus - Trustee
Page 2
Independent Examiner's Report to the Trustees of Yephess Charitable Trust
Independent examiner's report to the trustees of Yephess Charitable Trust
I report to the charity trustees on my examination of the accounts of Yephess Charitable Trust (the Trust) for the year ended 5 April 2022.
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.
Adrian Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Yephess Charitable Trust
Statement of Financial Activities for the Year Ended 5 April 2022
| 5.4.22 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 30,000 Investment income 3 68,097 Total 98,097 EXPENDITURE ON Charitable activities Administration fees 2,981 Grants to institutions 55,545 Total 58,526 NET INCOME 39,571 RECONCILIATION OF FUNDS Total funds brought forward 1,382,953 TOTAL FUNDS CARRIED FORWARD 1,422,524 |
5.4.21 Total funds £ 30,000 70,147 |
|---|---|
| 100,147 | |
| 6,715 57,690 |
|
| 64,405 | |
| 35,742 1,347,211 |
|
| 1,382,953 |
The notes form part of these financial statements
Page 4
Yephess Charitable Trust
Balance Sheet 5 April 2022
| 5.4.22 Unrestricted funds Notes £ FIXED ASSETS Investment property 6 847,398 CURRENT ASSETS Debtors 7 20,000 Investments 8 370,649 Cash at bank and in hand 215,936 606,585 CREDITORS Amounts falling due within one year 9 (9,695) NET CURRENT ASSETS 596,890 TOTAL ASSETS LESS CURRENT LIABILITIES 1,444,288 CREDITORS Amounts falling due after more than one year 10 (21,764) NET ASSETS 1,422,524 FUNDS 11 Unrestricted funds 1,422,524 TOTAL FUNDS 1,422,524 |
5.4.21 Total funds £ 847,398 20,000 338,708 208,306 567,014 (9,695) 557,319 1,404,717 (21,764) 1,382,953 1,382,953 1,382,953 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
P Kraus - Trustee
The notes form part of these financial statements
Page 5
Yephess Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2022
1. SCHEDULE OF DONATIONS TO INSTITUTIONS & STUDENT GRANTS
| Achisomoch Aid | 12,000 |
|---|---|
| Yetev Lev | 15,000 |
| Chasdei Aharon Limited | 10,000 |
| Gateshead Talmudical College | 2,000 |
| Friends Of Mir | 3,000 |
| North London Welfare And Educational Foundation | 5,000 |
| Grants below £1,000 | 1,200 |
| 48,200 | |
| Student grants | 7,345 |
| Total grants | 55,545 |
2. 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
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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
Yephess Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
3. INVESTMENT INCOME
| Rents received Profit on sale of investments Deposit account interest Curr asset inv income |
5.4.22 £ 52,258 7,170 68 8,601 68,097 |
5.4.21 £ 59,390 - 451 10,306 |
|---|---|---|
| 70,147 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 30,000 |
| Investment income | 70,147 |
| Total | 100,147 |
| EXPENDITURE ON | |
| Charitable activities | |
| Administration fees | 6,715 |
| Grants to institutions | 57,690 |
| Total | 64,405 |
| NET INCOME | 35,742 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 1,347,211 |
| TOTAL FUNDS CARRIED FORWARD | 1,382,953 |
continued...
Page 7
Yephess Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
| 6. INVESTMENT PROPERTY FAIR VALUE At 6 April 2021 and 5 April 2022 NET BOOK VALUE At 5 April 2022 At 5 April 2021 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.22 £ Trade debtors 20,000 8. CURRENT ASSET INVESTMENTS 5.4.22 £ Listed investments 370,649 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.22 £ Other creditors 9,695 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 5.4.22 £ Other creditors 21,764 11. MOVEMENT IN FUNDS Net movement At 6/4/21 in funds £ £ Unrestricted funds General fund 1,382,953 39,571 TOTAL FUNDS 1,382,953 39,571 |
£ 847,398 |
£ 847,398 |
£ 847,398 |
||
|---|---|---|---|---|---|
| 847,398 | |||||
| 847,398 | |||||
| 5.4.21 £ 20,000 5.4.21 £ 338,708 |
5.4.21 £ 20,000 |
||||
| 5.4.21 £ 9,695 5.4.21 £ 21,764 At 5/4/22 £ 1,422,524 |
5.4.21 £ 9,695 5.4.21 £ 21,764 |
5.4.21 £ 9,695 |
|||
| 1,422,524 |
continued...
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Yephess Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 98,097 TOTAL FUNDS 98,097 Comparatives for movement in funds At 6/4/20 £ Unrestricted funds General fund 1,347,211 TOTAL FUNDS 1,347,211 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 100,147 TOTAL FUNDS 100,147 |
Resources expended £ (58,526) (58,526) Net movement in funds £ 35,742 35,742 Resources expended £ (64,405) (64,405) |
Movement in funds £ 39,571 39,571 At 5/4/21 £ 1,382,953 |
Movement in funds £ 39,571 39,571 At 5/4/21 £ 1,382,953 |
|---|---|---|---|
| 1,382,953 | |||
| Movement in funds £ 35,742 35,742 |
|||
| 35,742 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6/4/20 £ 1,347,211 1,347,211 |
Net movement in funds £ 75,313 75,313 |
At 5/4/22 £ 1,422,524 |
|---|---|---|---|
| 1,422,524 |
continued...
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Yephess Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 198,244 | (122,931) | 75,313 |
| TOTAL FUNDS | 198,244 | (122,931) | 75,313 |
12. RELATED PARTY DISCLOSURES
During the year the charity received £30,000 of donations from a company of which a trustee of this charity is a director.
Page 10
Yephess Charitable Trust
Detailed Statement of Financial Activities for the Year Ended 5 April 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Rents received Profit on sale of investments Deposit account interest Curr asset inv income Total incoming resources EXPENDITURE Charitable activities Management & administration Grants made Total resources expended Net income |
5.4.22 £ 30,000 52,258 7,170 68 8,601 68,097 98,097 2,981 55,545 58,526 58,526 39,571 |
5.4.21 £ 30,000 59,390 - 451 10,306 |
|---|---|---|
| 70,147 | ||
| 100,147 8,070 56,335 |
||
| 64,405 | ||
| 64,405 | ||
| 35,742 |
This page does not form part of the statutory financial statements
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