Registered number: 3303791 Charity number: 1064606
BEER SHMUEL LIMITED
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021
BEER SHMUEL LIMITED
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 - 7 |
| Notes to the financial statements | 8 - 14 |
BEER SHMUEL LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2021
| Trustees | YM Pinter, Director/Trustee |
|---|---|
| P Lowin, Director/Trustee | |
| Company registered number 3303791 Charity registered number 1064606 Registered office 11c Grosvenor Way London E5 9ND Accountants Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB Bankers Santander UK plc Bridle Road Bootlle Merseyside L30 4GB |
Page 1
BEER SHMUEL LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2021
The Trustees present their annual report together with the financial statements of the Company for the 1 February 2020 to 31 January 2021. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
Policies and objectives
This charity, which is also known as “The Pinters’ Kolel”, “Kollel Divrei Avrohom”, “Imry Chaim College” and “Divrei Avrohom Rabbinical Institute”, was set up by a Memorandum and Articles of Association on 17 January 1997 for the relief of poverty, the advancement of education in England and general charitable activities.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
Review of activities
At present the charity provides bursaries and facilities for older students continuing their rabbinical research and grants for the advancement of education, religion, relief of poverty and the needy. The charity’s facilities are used for educational advice. Additionally an educational holiday is usually organised for families from deprived inner city areas in a relaxing atmosphere with fresh countryside air. Grants of £3,296 (2020 - £1,050) were made during the year. The results are as shown on the accounts.
Financial review
Reserves policy
In the opinion of the directors/trustees, the funds of the charity are sufficient for its purposes. The charity has policy of trying to ensure that it has liquid funds equal to at least four weeks’ projected bursary payments. The reserves of £9,621 (2020 - £40,776) reflect this.
Structure, governance and management
Constitution
Beer Shmuel Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
Page 2
BEER SHMUEL LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021
Structure, governance and management (continued)
Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 6 October 2021 and signed on their behalf by:
YM Pinter
Trustee
Page 3
BEER SHMUEL LIMITED
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2021
Independent examiner's report to the Trustees of Beer Shmuel Limited ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 January 2021.
Responsibilities and basis of report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Signed: Dated: 6 October 2021 D Wolffe FCCA 34 Braydon Road London N16 6QB
Page 4
BEER SHMUEL LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2021
| Note Income from: Donations and legacies 3 Total income Expenditure on: Raising funds 4 Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2021 £ 74,820 74,820 3,539 102,436 105,975 (31,155) 40,775 (31,155) 9,620 |
Total funds 2021 £ 74,820 74,820 3,539 102,436 105,975 (31,155) 40,775 (31,155) 9,620 |
Total funds 2020 £ 272,292 |
|---|---|---|---|
| 272,292 | |||
| 1,083 264,470 |
|||
| 265,553 | |||
| 6,739 | |||
| 34,036 6,739 |
|||
| 40,775 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 form part of these financial statements.
Page 5
BEER SHMUEL LIMITED (A company limited by guarantee) REGISTERED NUMBER: 3303791
BALANCE SHEET AS AT 31 JANUARY 2021
| Note Fixed assets Tangible assets 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
10,811 - 10,811 (6,839) |
2021 £ 5,648 5,648 3,972 9,620 9,620 9,620 9,620 - 9,620 |
11,915 26,466 38,381 (3,994) |
2020 £ 6,388 |
|---|---|---|---|---|
| 6,388 34,387 |
||||
| 40,775 | ||||
| 40,775 | ||||
| 40,775 | ||||
| 40,775 | ||||
| - | ||||
| 40,775 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 06 October 2021 and signed on their behalf by:
Page 6
BEER SHMUEL LIMITED
(A company limited by guarantee) REGISTERED NUMBER: 3303791
BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2021
YM Pinter
Trustee
The notes on pages 8 to 14 form part of these financial statements.
Page 7
(A company limited by guarantee)
BEER SHMUEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
1. General information
This charity, which is also known as “The Pinters’ Kolel”, “Kollel Divrei Avrohom”, “Imry Chaim College” and “Divrei Avrohom Rabbinical Institute”, was set up by a Memorandum and Articles of Association on 17 January 1997 for the relief of poverty, the advancement of education in England and general charitable activities.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Beer Shmuel Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
2.4 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 8
(A company limited by guarantee)
BEER SHMUEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
2. Accounting policies (continued)
2.4 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
| Motor vehicles | - | 25% |
|---|---|---|
| Furniture | - | 15% |
| Office equipment | - | 15% |
| Books | - | 10% |
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
2.8 Fund accounting
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 9
BEER SHMUEL LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
3. Income from donations and legacies
| Donations Income from Charitable Activities Donations Income from Charitable Activities Holiday Funds |
Restricted funds 2021 £ 65,455 9,365 - 74,820 Restricted funds 2020 £ 92,760 7,780 171,752 272,292 |
Total funds 2021 £ 65,455 9,365 - |
|---|---|---|
| 74,820 | ||
| Total funds 2020 £ 92,760 7,780 171,752 |
||
| 272,292 |
4. Expenditure on raising funds Costs of raising voluntary income
| Restricted | Total | |
|---|---|---|
| funds | funds | |
| 2021 | 2021 | |
| £ | £ | |
| Function | 3,539 | 3,539 |
Page 10
BEER SHMUEL LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
4. Expenditure on raising funds (continued)
Costs of raising voluntary income (continued)
| Function Printing, postage and stationary |
Restricted funds 2020 £ 682 401 1,083 |
Total funds 2020 £ 682 401 |
|---|---|---|
| 1,083 |
5. Analysis of expenditure by activities
| Charitable Grants Bursaries Provided Other Charitable Costs Accountancy Fees |
Activities undertaken directly 2021 £ 3,296 96,404 2,336 400 102,436 |
Total funds 2021 £ 3,296 96,404 2,336 400 |
|---|---|---|
| 102,436 |
Page 11
BEER SHMUEL LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
5. Analysis of expenditure by activities (continued)
| Charitable Grants Bursaries Provided Camp Costs Other Charitable Costs Accountancy Fees |
Activities undertaken directly 2020 £ 1,050 96,843 164,337 1,840 400 264,470 |
Total funds 2020 £ 1,050 96,843 164,337 1,840 400 264,470 |
|---|---|---|
6. Tangible fixed assets
| Cost or valuation At 1 February 2020 At 31 January 2021 Depreciation At 1 February 2020 Charge for the year At 31 January 2021 Net book value At 31 January 2021 At 31 January 2020 |
Motor vehicles £ 450 450 308 26 334 116 142 |
Furniture £ 7,700 7,700 6,279 213 6,492 1,208 1,421 |
Office equipment £ 520 520 144 56 200 320 376 |
Books £ 13,299 13,299 8,850 445 9,295 4,004 4,449 |
Total £ 21,969 |
|---|---|---|---|---|---|
| 21,969 | |||||
| 15,581 740 |
|||||
| 16,321 | |||||
| 5,648 | |||||
| 6,388 |
Page 12
BEER SHMUEL LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
7. Debtors
| Due within one year Trade debtors Other debtors |
2021 £ - 10,811 10,811 |
2020 £ 1,105 10,810 |
|---|---|---|
| 11,915 |
8. Creditors: Amounts falling due within one year
| Bank overdrafts Other creditors Accruals and deferred income |
2021 £ 2,677 3,762 400 6,839 |
2020 £ - 3,594 400 |
|---|---|---|
| 3,994 |
9. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2021 £ 5,648 10,811 (6,839) 9,620 |
Total funds 2021 £ 5,648 10,811 (6,839) |
|---|---|---|
| 9,620 |
Page 13
(A company limited by guarantee)
BEER SHMUEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
9. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2020 £ 6,388 38,381 (3,994) 40,775 |
Total funds 2020 £ 6,388 38,381 (3,994) 40,775 |
|---|---|---|
10. Related party transactions
The company was under the control of Rabbi Y M Pinter and Mrs P Lowin. As at the year-end Rabbi Pinter was owed £2,400 (2020 – £2,400) this amount does not bear interest and is repayable by mutual consent. The cost of the use of premises of £600 was paid to Yeshuas Chaim Synagogue one of whose trustees is Rabbi Y M Pinter.
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