REGISTERED CHARITY NUMBER: 1070877
BRITISH FRIENDS OF MOSDOS TCHERNOBEL
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
BRITISH FRIENDS OF MOSDOS TCHERNOBEL REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021
TRUSTEES
TRUSTEES Rabbi N B Bindinger Mr A Schechter PRINCIPAL ADDRESS Dominion House 91 Dunsmure Road London N16 5HT REGISTERED CHARITY 1070877 NUMBER
INDEPENDENT EXAMINER
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
Page 1
BRITISH FRIENDS OF MOSDOS TCHERNOBEL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. 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 and aims
The objective of the charity are the advancement of the Orthodox Jewish Religion and Orthodox and Orthodox Jewish education.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
Grantmaking
Grants are made to charitable institutions and organisations which accord with the objects of the charity. The trustees are approached for donations by a wide variety of charitable institutions operating all over England. The trustees consider all requests which they receive and make donations based on circumstances and funds available.
FINANCIAL REVIEW
Review of activities
Both income and grantmaking increased by about 14% . Net expenditure over income at £18,513 is 12% lower compared to last year.
Reserves policy
The trustees ensure that the charity has sufficient reserves to cover anticipated outgoings, In addition the trustees have received undertakings from local supporters to cover any deficit should such occasion arise. Reserve at the year end were £57,918 (2020 - £76,431).
FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was constituted Deed of Trust dated 6 April 1998.
Organisational structure
The day-to-day affairs of the company are administered by the trustees. 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 a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................. Rabbi N B Bindinger - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRITISH FRIENDS OF MOSDOS TCHERNOBEL
Independent examiner's report to the trustees of British Friends of Mosdos Tchernobel
I report to the charity trustees on my examination of the accounts of British Friends of Mosdos Tchernobel (the Trust) for the year ended 31 March 2021.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants which is one of the listed bodies.
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.
S Y Steinhaus FCA Institute of Chartered Accountants Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS Date: .............................................
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 696,120 Investment income 3 5 Total 696,125 EXPENDITURE ON Raising funds 4 1,567 Charitable activities 5 Charitable activities 711,043 Other 2,028 Total 714,638 NET INCOME/(EXPENDITURE) (18,513) RECONCILIATION OF FUNDS Total funds brought forward 76,431 TOTAL FUNDS CARRIED FORWARD 57,918 |
2020 Total funds £ 610,365 6 610,371 5,292 626,096 - 631,388 (21,017) 97,448 76,431 |
|---|---|
The notes form part of these financial statements
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
BALANCE SHEET 31 MARCH 2021
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 12 NET ASSETS/(LIABILITIES) FUNDS Unrestricted funds TOTAL FUNDS |
2021 Total funds £ 479 177,769 14,242 192,011 (9,261) 182,750 183,229 (125,311) 57,918 57,918 57,918 |
2020 Total funds £ 563 169,568 11,366 180,934 (33,855) 147,079 147,642 (71,211) 76,431 76,431 76,431 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Rabbi N B Bindinger - Trustee
The notes form part of these financial statements
Page 5
BRITISH FRIENDS OF MOSDOS TCHERNOBEL
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Cash flows from financing activities New loans in year Net cash provided by financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 2 Cash and cash equivalents at the end of the reporting period 2 |
2021 £ (20,507) (20,507) 5 5 50,000 50,000 29,498 (15,256) 14,242 |
2020 £ (25,931) (25,931) 6 6 - - (25,925) 10,669 (15,256) |
|---|---|---|
The notes form part of these financial statements
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in debtors Increase/(decrease) in creditors Net cash used in operations 2. ANALYSIS OF CASH AND CASH EQUIVALENTS Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year Total cash and cash equivalents |
2021 £ (18,513) 84 (5) (8,201) 6,128 (20,507) 2021 £ 14,242 - 14,242 |
2020 £ (21,017) 100 (6) - (5,008) (25,931) 2020 £ 11,366 (26,622) (15,256) |
|---|---|---|
3. ANALYSIS OF CHANGES IN NET DEBT
| Net cash | At 1.4.20 Cash flow At 31.3.21 £ £ £ |
|---|---|
| Cash at bank | 11,366 2,876 14,242 |
| Bank overdraft | (26,622) 26,622 - |
| (15,256) 29,498 14,242 |
|
| Debt | |
| Debts falling due after 1 year | - (50,000) (50,000) |
| - (50,000) (50,000) |
|
| Total | (15,256) (20,502) (35,758) |
The notes form part of these financial statements
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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.
Raising funds comprise the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 15% on reducing balance
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. DONATIONS AND LEGACIES
| Gifts Donations |
2021 £ (1) 696,121 696,120 |
2020 £ (1) 610,366 610,365 |
|---|---|---|
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
3. INVESTMENT INCOME
| Deposit account interest 4. RAISING FUNDS Raising donations and legacies Campaign costs Advertising 5. CHARITABLE ACTIVITIES COSTS Charitable activities 6. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Advancement of religion Relief of poverty Advancement of education Mosdos Tchernobel Yesamach Levav Others under £15,000 The total grants paid to individuals during the year was as follows: Relief of poverty |
Grant funding of activities (see note 6) £ 699,910 |
2021 £ 5 2021 £ 1,330 237 1,567 Support costs (see note 7) £ 11,133 2021 £ 699,910 2021 £ 661,440 - 13,970 675,410 601,030 60,410 13,970 675,410 2021 £ 24,500 |
2020 £ 6 2020 £ 3,730 1,562 5,292 Totals £ 711,043 2020 £ 611,745 2020 £ 487,890 71,550 31,105 590,545 2020 £ 21,200 |
|
|---|---|---|---|---|
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
7. SUPPORT COSTS
| Governance Management costs £ £ Other resources expended - 2,028 Charitable activities 11,133 - 11,133 2,028 |
Totals £ 2,028 11,133 13,161 |
|---|---|
Support costs, included in the above, are as follows:
Management
| Rent | 2021 2020 Charitable Total activities activities £ £ 7,300 8,462 |
|---|---|
| Telephone | 1,269 1,397 |
| Postage and stationery | 1,454 1,464 |
| General office expenses | 250 475 |
| Finance costs | 776 593 |
| Depreciation of tangible and heritage | |
| assets | 84 100 |
| 11,133 12,491 |
|
| Governance costs | |
| Independent examiner's fee | 2021 2020 Other resources Total expended activities £ £ 624 540 |
| Independent examiner's other fees | 1,404 1,320 |
| 2,028 1,860 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
9. TANGIBLE FIXED ASSETS
| COST At 1 April 2020 and 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Other debtors 177,769 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Bank loans and overdrafts (see note 13) - Other creditors 9,261 9,261 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2021 £ Other creditors 125,311 13. LOANS An analysis of the maturity of loans is given below: 2021 £ Amounts falling due within one year on demand: Bank overdrafts - Amounts falling due between two and five years: Other loans - 2-5 years 50,000 |
Fixtures and fittings £ 1,628 1,065 84 1,149 479 563 2020 £ 169,568 2020 £ 26,622 7,233 33,855 2020 £ 71,211 2020 £ 26,622 - |
|---|---|
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
14. RELATED PARTY DISCLOSURES
The following loans and grants were made, loan of £15,000 and a grant of £60,410 to Yesamach Levav, loan of £20,200 to Forty Ltd, charities in which the trustees have an interest.
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Cash Flow Statement | 6 |
| Notes to the Cash Flow Statement | 7 |
| Notes to the Financial Statements | 8 to 12 |