RAYS OF HOPE
CHARITY REGISTRATION NUMBER 1063700
TRUSTEES’ REPORT
- and -
UNAUDITED ACCOUNTS
FROM 1 JANUARY 2020
TO
31 DECEMBER 2020
RAYS OF HOPE
Charity Registration Number 1063700
| Contents | Page |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees’ Annual Report | 2 - 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Unaudited Accounts | 8 - 12 |
Page 1
RAYS OF HOPE
Charity Registration Number 1063700
REFERENCE AND ADMINISTRATIVE DETAILS
TRUSTEES
Alta Mordechai Fogel Eliezer Padwa
CHARITY’S CONTACT AND PRINCIPAL ADDRESS
Eliezer Padwa 60 Lynmouth Road London N16 6XL
DETAILS OF FORMATION
The Charity is constituted by Declaration of Trust dated 16 June 1997 and was registered with the Charity Commission on 31 July 1997 under Charity Registration Number 1063700
BANKERS
Santander UK Plc TSB Bank Plc
INDEPENDENT EXAMINER
Stephen Sacks FCA for Shears & Partners Limited Chartered Accountants 88 Edgware Way Edgware HA8 8JS
Page 2
RAYS OF HOPE
Charity Registration Number 1063700
TRUSTEES’ ANNUAL REPORT
The Trustees present their Annual Report and the Unaudited Accounts (“the Accounts”) of Rays of Hope (“the Charity”) for the period from 1 January 2020 to 31 December 2020. The Accounts have been prepared in accordance with the Accounting Policies set out on Pages 8 and 9 and comply with the Charity’s Declaration of Trust and applicable law.
• OBJECTIVES AND ACTIVITIES
The Trustees shall stand possessed of the Trust Fund upon trust to pay or apply the whole of the income and the capital of the Trust Fund for the purposes of:
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a. The advancement of the Orthodox Jewish religion
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b. The promotion of Orthodox Jewish religious education, education generally and in particular the education of children suffering from learning difficulties and other handicaps and disabilities
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c. The relief of poverty, and
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d. Such other charitable purposes as the trustees may from time to time determine
The Charity’s Activities, Achievements and Performance
Provision of additional educational and therapeutic support for children with Special Educational Needs
Rays of Hope resources and supplies out-of-class tutoring, speech therapy and occupational therapy to over 160 children. We provide the specialist equipment and extensive resources and equipment required to maximise the effectiveness of therapeutic interventions, and monitor the progress of beneficiaries.
Provision of positive activities to occupy children during school breaks
At several holiday intervals throughout the year, Rays of Hope facilitates entertainment activity for in excess of 550 primary school aged children, including craft sessions, jumping castle hire, and a fun-fair. These sessions serve a financially disadvantaged strata of population, keeping them safe, busy and out of trouble during their off-school periods, and happy at the same time.
Training activities
Rays of Hope arranges ongoing educational training sessions to maintain and upgrade tutors’ levels of skill and achievement.
Page 3
RAYS OF HOPE
Charity Registration Number 1063700
TRUSTEES’ ANNUAL REPORT (Continued)
Outcomes and Impact
Working with children and young people at this crucial young age positively affects every aspect of their lives:
- Improved long term prospects: through addressing whatever it is that is holding these children and young people back from succeeding at school, whether it’s academic, emotional or social difficulties, the input of the Charity gives them the tools and skills that give them better chances at further education, employment and independent living.
Improved emotional health and wellbeing: struggling in class and in the playground for many years takes a major toll on these children and young people’s self-esteem. With the personalized and targeted support of the Charity they slowly begin to taste success and their confidence and happiness soars.
Improved relationships: many of our children and young people have social and/or communication difficulties that hinder their ability to develop and maintain friendships and often drive a wedge between them and their families. Their new found communication skills enable them to improve their relationships with family members and make new friends.
Charities and 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 aims and objectives of the Charity and in planning future activities.
During the year the Charity raised grant and other funds, and has continued to apply the funds raised towards activities in furtherance of its objectives.
Grant Making Policy
The Charity does not make grants.
- FINANCIAL REVIEW
Investments Policy
The activities of the Charity were supported by a mixture of funding streams including Donations from other Charitable Trusts, Corporate Entities and Individuals together with Local Authority funding. The results for the year are shown in the attached Accounts. Due to significant increase in activities last year, the charity had finished that year in surplus. With increased fundraising measures this year, the Trustees are grateful to have raised a surplus. The Trustees are aware of the need to ensure the longterm sustainability of the Charity and are continuing to take steps to address this issue.
Page 4
RAYS OF HOPE
Charity Registration Number 1063700
TRUSTEES’ ANNUAL REPORT (Continued)
Reserves Policy
The Charity aims to have very modest Reserves preferring immediate investment in the demands of “ children in need ”.
• STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is constituted by Declaration of Trust dated 16 June 1997 and was registered with the Charity Commission on 31 July 1997 under Charity Registration Number 1063700.
The Trustees in office in the period were as follows:
Alta Mordechai Fogel Eliezer Padwa Ezekiel Friedman (Retired: 2 November 2020)
The power of appointing new Trustees or a new Trustee thereof shall be exercisable by the persons who are, for the time being, the Trustees hereof.
Risk Management
The Trustees have identified and reviewed the major risks to which the charity is exposed, particularly those relating to the operations and finance of the charity. The Trustees have put systems in place to mitigate any perceived risks.
The Trustees also make use of professional advisors, where appropriate, to ensure that they are aware of any other risks to which they might be exposed.
•
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and Administrative Details are set out on Page 1 and form part of this report.
The Trustees declare that they have approved the Trustees’ Annual Report above.
Signed by the Trustees
ALTA MORDECHAI FOGEL
Trustee
Date: 5 November 2021
Page 5
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF
RAYS OF HOPE
Charity Registration Number 1063700
FOR THE YEAR ENDED 31 DECEMBER 2020
I report on the Unaudited Accounts (“the Accounts”) of Rays of Hope (“the Charity”) for the period 1 January 2020 to 31 December 2020 set out on Pages 6 to 12.
Respective Responsibilities of the Trustees and Independent Examiner
The Charity’s Trustees are responsible for the preparation of the Unaudited Accounts in accordance with the Charities Act 2011 (“the 2011 Act”).
The Charity’s Trustees consider that an audit is not required for this year under Section 144 of the 2011 Act and that an independent examination is needed. The Charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales.
It is my responsibility to:
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examine the Accounts under Section 145 of the 2011 Act;
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follow the applicable Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the Accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect:
-
the accounting records were not kept in accordance with Section 130 of the 2011 Act; or
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the Accounts did not accord with the accounting records; or
-
the Accounts did not comply with the applicable requirements concerning the form and content of the Accounts set out in the Charities (Unaudited 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.
Stephen Sacks FCA For SHEARS & PARTNERS LIMITED Chartered Accountants 88 Edgware Way Edgware HA8 8JS
Date: 5 November 2021
Page 6
RAYS OF HOPE
Charity Registration Number 1063700
STATEMENT OF FINANCIAL ACTIVITIES
FROM 1 JANUARY 2020 TO 31 DECEMBER 2020
| Note Unrestricted Funds Restricted Funds £ £ INCOMING RESOURCES Income and Endowments from: Donations (4) 157,797 - Investments (5) 3 - Separate Material Item of Funding (6) 214,599 - Other - Restricted (7) - - Total Income (13) 372,399 - __ __ RESOURCES EXPENDED Expenditure on: Raising Funds (8) 3,519 - Charitable Activities (8) 340,977 3,775 |
Note Unrestricted Funds Restricted Funds £ £ INCOMING RESOURCES Income and Endowments from: Donations (4) 157,797 - Investments (5) 3 - Separate Material Item of Funding (6) 214,599 - Other - Restricted (7) - - Total Income (13) 372,399 - __ __ RESOURCES EXPENDED Expenditure on: Raising Funds (8) 3,519 - Charitable Activities (8) 340,977 3,775 |
Note Unrestricted Funds Restricted Funds £ £ INCOMING RESOURCES Income and Endowments from: Donations (4) 157,797 - Investments (5) 3 - Separate Material Item of Funding (6) 214,599 - Other - Restricted (7) - - Total Income (13) 372,399 - __ __ RESOURCES EXPENDED Expenditure on: Raising Funds (8) 3,519 - Charitable Activities (8) 340,977 3,775 |
Total 2020 Total 2019 £ £ 157,797 106,877 3 27 214,599 248,138 - 11,068 372,399 366,110 __ ______ 3,519 8,021 344,752 388,651 |
Total 2020 Total 2019 £ £ 157,797 106,877 3 27 214,599 248,138 - 11,068 372,399 366,110 __ ______ 3,519 8,021 344,752 388,651 |
|---|---|---|---|---|
| Other (9) |
1,680 | - | 1,680 | 1,680 |
| Total Expenditure (13) (346,176) (3,775) (349,951) (398,352) _ ____ ______ ________ NET INCOME/(EXPENDITURE) 26,223 (3,775) 22,448 (32,242) RECONCILIATION OF FUNDS Total Funds Brought Forward (13) 483 268 751 32,993 Transfer Between Funds (3,507) 3,507 - -_ Total Funds Carried Forward (13) £23,199 £ - £23,199 £751 ===== == ===== === |
The Notes on Pages 8 to 12 form part of the Unaudited Accounts.
Page 7
RAYS OF HOPE
Charity Registration Number 1063700
BALANCE SHEET
AS AT 31 DECEMBER 2020
| Note 2020 £ FIXED ASSETS Tangible Assets (10) 600 _ CURRENT ASSETS Debtors (11) - Cash at Bank and in Hand 37,208 37,208 CREDITORS:Amounts falling due within one year (12) (14,609) ( NET CURRENT ASSETS/(LIABILITIES) 22,599 TOTAL ASSETS LESS CURRENT LIABILITIES 23,199 __ NET ASSETS/(LIABILITIES) £23,199 ===== FUNDS OF THE CHARITY Restricted Funds/(Deficit) (13) - Unrestricted Funds/(Deficit) (13) 23,199 £23,199 ===== |
2019 £ 700 _ 4,880 7,511 12,391 12,340) 51 751_ ___ £751 === 268 483 £751 === |
|---|---|
The Unaudited Accounts were approved on 5 November 2021 and signed by the following Trustee.
____ ELIEZER PADWA Trustee
The Notes on Pages 8 to 12 form part of the Unaudited Accounts.
Page 8
RAYS OF HOPE
Charity Registration Number 1063700
NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2020
1. STATUTORY INFORMATION
Rays of Hope (“the Charity”) is a Charitable Trust, domiciled in England and Wales, Charity Registration Number 1063700. The Charity’s Contact and Address are Eliezer Padwa, 60 Lynmouth Road, London, N16 6XL.
2. COMPLIANCE WITH ACCOUNTING STANDARDS
The Unaudited Accounts (“the Accounts”) have been prepared in accordance with the provisions of FRS 102 Charities SORP and the Charities SORP Update Bulletin 2 issued on 5 October 2018.
There were no material departures from the above Accounting Standards.
3. ACCOUNTING POLICIES
- a. Basis of Accounting
The Accounts have been prepared in accordance with the historical cost convention and in accordance with:
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The Charities Act 2011 (“the 2011 Act”)
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The Financial Reporting Standard applicable in the UK FRS 102 (“FRS 102”)
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The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK FRS 102 issued on 16 July 2014 the FRS 102 SORP (“the SORP”) and updated on 5 October 2018.
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The Charities SORP (FRS 102) Update Bulletin 2 issued on 5 October 2018 (“the Charities SORP FRS 102”)
The Charity constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
- b. Incoming Resources
Grants and Donations
Grants and Donations are accounted for in the Statement of Financial Activities (“the SOFA”) when the Charity becomes entitled to the donation and any conditions for receipt are met.
Investments
Investment Income comprises Bank Interest Receivable.
Separate Material Item of Funding
Local Authority support for children with special educational needs.
Other – Restricted
Lottery funding for a special project.
- c. Charitable Activities
Support for children with special educational needs.
Page 9
Charity Registration Number 1063700
RAYS OF HOPE
NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2020 (Continued)
3. ACCOUNTING POLICIES (Continued)
d. Other
Other, comprises Governance Costs which are all costs, involving public accountability of the Charity and its compliance with Regulations and “good practice”.
e. Tangible Assets – Depreciation
Depreciation is provided at the following Annual Rate in order to write off the cost or revalued amount of each asset down to its estimated residual value over its useful economic life:
% On Written Down Value
Computer Equipment
33
f. Debtors
Debtors are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the Charity. Subsequently they are measured at the cash or other consideration expected to be received.
g. Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure.
h. Creditors
The Charity has Creditors which are measured at settlement amounts less any trade discounts.
i. Fund Accounting
The Unrestricted Fund held by the Trust is made up as follows:
General Reserve
This represents funds that can be used in accordance with the objects of the Charity at the discretion of the Trustees.
The Restricted Fund held by the Trust is made up as follows:
General Reserve
This represents funds that can be used only in accordance with the specific wishes of the donor and in accordance with the objects of the Charity.
Page 10
RAYS OF HOPE
Charity Registration Number 1063700
NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2020 (Continued)
ANALYSIS OF INCOMING RESOURCES
| Income and Endowments from: 4. DONATIONS Unrestricted Funds Restricted Funds £ £ Charitable Trusts 81,424 - Corporate Entities 62,943 - Individuals 13,430 - |
Income and Endowments from: 4. DONATIONS Unrestricted Funds Restricted Funds £ £ Charitable Trusts 81,424 - Corporate Entities 62,943 - Individuals 13,430 - |
Income and Endowments from: 4. DONATIONS Unrestricted Funds Restricted Funds £ £ Charitable Trusts 81,424 - Corporate Entities 62,943 - Individuals 13,430 - |
Total 2020 £ 81,424 62,943 13,430 |
Total 2019 £ 41,085 59,760 6,032 |
|---|---|---|---|---|
| £157,797 £ - £157,797 £106,877 |
||||
| ====== == ====== ===== |
||||
| 5. INVESTMENTS Bank Interest Receivable £3 £ - £3 £27 == == == == 6. SEPARATE MATERIAL ITEM OF FUNDING £214,599 £ - £214,599 £248,138 ====== == ====== ===== Separate Material item of Funding represents Local Authority Funding receivable from the London Borough of Hackney Learning Trust. |
||||
| 7. OTHER - RESTRICTED |
||||
| Others | £ - | £11,068 | ||
| RESOURCES EXPENDED Analysis of Expenditure on: |
== | ==== | ||
| 8. ANALYSIS OF EXPENDITURE Raising Funds Charitable Activities Other Restricted Funds |
Total 2020 |
Total 2019 |
||
| £ £ £ £ £ £ Assessments - 3,950 - - 3,950 7,472 Bank Charges 311 - - - 311 431 Depreciation 175 - - - 175 230 Fundraising Events 802 - - - 802 6,659 Independent Examiner’s Fees - - 1,680 - 1,680 1,680 ITC Costs 718 - - - 718 621 Interest 29 - - - 29 - Office Costs 174 - - - 174 80 Play and Therapy Sessions - - - - - 3,200 Printing, Postage, Stationery & Advertising 1,310 - - - 1,310 - Special Educational Needs - 17,520 - - 17,520 33,290 Staff Costs - 309,107 - 3,775 312,882 326,260 Sundry Expenses - 216 - - 216 1,475 Therapy Equipment - 6291 - - 6,291 10,300 Training and Supervision - 3,893 - - 3,893 6,654 £3,519 £340,977 £1,680 £3,775 £349,951 £398,352 ==== ====== ==== ==== ====== ===== |
Page 11
RAYS OF HOPE
Charity Registration Number 1063700
NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2020 (Continued)
ANALYSIS OF EXPENDITURE ON: (Continued)
| 9. | OTHER | ||
|---|---|---|---|
| Governance Costs | |||
| 2020 | 2019 | ||
| £ | £ | ||
| Independent Examiner’s Fees for reporting on the | |||
| Unaudited Accounts (including VAT @ 20%) | £1,680 | £1,680 | |
| ==== | ==== | ||
| There were no other fees paid by the Charity to the Independent Examiner. | |||
| 10. | TANGIBLE ASSETS |
| Computer | |||
|---|---|---|---|
| Equipment | |||
| £ | |||
| Cost | |||
| At 1 January 2020 | 1,705 | ||
| Additions | 75 | ||
| At 31 December 2020 | 1,780 | ||
| ____ | |||
| Depreciation | |||
| At 1 January 2020 | (1,005) | ||
| Charge for the Period | (175) | ||
| At 31 December 2020 | (1,180) | ||
| _____ | |||
| Net Book Value | |||
| At 31 December 2020 | £600 | ||
| === | |||
| At 31 December 2019 | £700 | ||
| === | |||
| 11. | DEBTORS | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Prepayments and Accrued Income | £ - | £4,880 | |
| == | ==== | ||
| 12. | CREDITORS:Amounts falling due within one year | ||
| Bank Overdraft | - | 1,244 | |
| Trade Creditors | 4,780 | 2,073 | |
| Other Creditors | - | - | |
| Taxation and Social Security | 8,149 | 7,333 | |
| Accruals and Deferred Income | 1,680 | 1,690 | |
| £14,609 | £12,340 | ||
| ===== | ==== |
Page 12
RAYS OF HOPE
Charity Registration Number 1063700
NOTES TO THE UNAUDITED ACCOUNTS – 31 DECEMBER 2020 (Continued)
13. FUNDS OF THE CHARITY
| FUNDS OF THE CHARITY | |||
|---|---|---|---|
| Restricted | Unrestricted | Total | |
| £ | £ | £ | |
| At 1 January 2020 | 268 | 483 | 751 |
| Income and Endowments | - | 372,399 | 372,399 |
| Expenditure | (3,775) | (346,176) | (349,951) |
| Transfers | 3,507 | (3,507) | - |
| At 31 December 2020 | £ - | £23,199 | £23,199 |
| == | ===== | ===== |
14. TRANSACTIONS WITH RELATED PARTIES
There were no transactions with Related Parties either in the current or the previous year.
15. TRUSTEES’ EXPENSES
There were no expenses or remuneration paid to the Trustees in the current or the previous year.
16. EMPLOYEES
With the exception of the 2 Trustees, the Charity had 28 employees in the year ( 2019: 25 ).
| Staff costs were as follows: Salaries & wages Sessional staff Specialist teachers Government Job Retention Scheme |
2020 2019 £ £ 177,117 134,646 165,544 173,554 51,796 51,350 (64,055) - £330,402 £359,550 ====== ===== |
2019 £ 134,646 173,554 51,350 - |
|---|---|---|
No employee earned more than £60,000 during the year (2019: £60,000) .