BRITISH FRIENDS OF THE GIBRALTAR KOLLEL
ANNUAL REPORT
YEAR ENDED 30 SEPTEMBER 2020
**BRITISH FRIENDS OF THE GIBRALTAR KOLLEL**
**ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2020**
## **CONTENTS**
|Information|2|
|---|---|
|Trustees’ report|3|
|Independent Examiner’s Report|4|
|Accounts|5|
1
## **BRITISH FRIENDS OF THE GIBRALTAR KOLLEL**
## **ANNUAL REPORT**
## **YEAR ENDED 30 SEPTEMBER 2020**
|**INFORMATION**||
|---|---|
|**Trustees**|Rabbi A Hassan|
||SVM Cohen|
||Y Ibgui|
||AS Belilo|
||N Hassan|
|**Charity number**|1071809|
|**Registered address**|1 Holden Road|
||Salford|
||Manchester|
||M7 4NL|
|**Bankers**|The Royal Bank of Scotland plc|
||38 Mosley Street|
||Manchester|
||M60 2BE|
|**Inland Revenue Number**|XR32621|
|**Independent Examiner**|Lorna Maynard FCCA|
||International Commercial Centre|
||Casemates|
||Gibraltar|
2
## **BRITISH FRIENDS OF THE GIBRALTAR KOLLEL**
## **ANNUAL REPORT**
## **YEAR ENDED 30 SEPTEMBER 2020**
## TRUSTEES’ REPORT
The trustees present their report and accounts for the year ended 30 September 2020.
## **Legal**
The British Friends of the Gibraltar Kollel is constituted by Deed of Trust dated 11 December 1997 and is a registered charity since 2 October 1998.
## **Aims**
The charitable objectives of the charity are to advance education in the Jewish faith by assisting young men to become Rabbis, to provide support for Jewish education in schools, to advance religious activities in synagogues and for the relief of poverty.
## **Trustees**
The trustees during the year were the following:
Rabbi A Hassan – Chairman SVM Cohen - Treasurer Y Ibgui AS Belilo N Hassan
## **Review of progress and achievements**
The charity commenced its work on 2 October 1998 and the trustees are satisfied with the results to date.
## **Review of financial activities**
The charity achieved a total income from donations of £183,716 as well as £178 from bank interest. There was an expense of £200 from bank charges. Donations towards the above objectives were £558,533 and there were no other expenses. The general fund carried forward at the year end was a surplus of £19,260.
## **For and on behalf of the trustees**
**SVM Cohen - Treasurer AS Belilo - Trustee** 2021 2021
3
## **BRITISH FRIENDS OF THE GIBRALTAR KOLLEL**
## **ANNUAL REPORT**
## **YEAR ENDED 30 SEPTEMBER 2020**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BRITISH FRIENDS OF THE GIBRALTAR KOLLEL.**
I report on the accounts of the charity for the year ended 30 September 2020, which are set out on page 5 and 6.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (funder section 145(5)(b) of the 2011 Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiners report**
My examination was carried out in accordance with 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 matter has come to my attention:
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Lorna Maynard FCCA International Commercial Centre Casemates Gibraltar**
2021
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## **BRITISH FRIENDS OF THE GIBRALTAR KOLLEL**
## **ANNUAL REPORT**
## **YEAR ENDED 30 SEPTEMBER 2020**
## **ACCOUNTS**
## **Receipt and payments account for the year ended 30 September 2020**
|**Year ended 30**
**September 2020**
**Year ended 30**
**September 2019**
**£**
**£**
**£**
**£**
**Income receipts**
Donations from voluntary sources
183,716
465,356
Bank interest income
178
-
**Direct payments**
Payments to charitable causes
Bank Charges
558,533
200
90,674
-
**Total payments**
(558,733)
(90,674)
**(Deficit)/Surplus for the year**
**(374,839)**
**374,682**
**Statement of assets and liabilities at 30 September 2020**
**2020**
**2019**
**£**
**£**
**Monetary assets**
Cash at bank
57,456
397,674
**Current liabilities**
Other creditors
(38,196)
(3,576)
**Net assets**
**19,260**
**394,098**
**General Fund**
Opening balance
394,098
19,416
(Deficit)/Surplus for the year
(374,839)
374,682
Closing balance
**19,260**
**394,098**|**Year ended 30**
**September 2020**
**Year ended 30**
**September 2019**
**£**
**£**
**£**
**£**
**Income receipts**
Donations from voluntary sources
183,716
465,356
Bank interest income
178
-
**Direct payments**
Payments to charitable causes
Bank Charges
558,533
200
90,674
-
**Total payments**
(558,733)
(90,674)
**(Deficit)/Surplus for the year**
**(374,839)**
**374,682**
**Statement of assets and liabilities at 30 September 2020**
**2020**
**2019**
**£**
**£**
**Monetary assets**
Cash at bank
57,456
397,674
**Current liabilities**
Other creditors
(38,196)
(3,576)
**Net assets**
**19,260**
**394,098**
**General Fund**
Opening balance
394,098
19,416
(Deficit)/Surplus for the year
(374,839)
374,682
Closing balance
**19,260**
**394,098**|**Year ended 30**
**September 2020**
**Year ended 30**
**September 2019**
**£**
**£**
**£**
**£**
**Income receipts**
Donations from voluntary sources
183,716
465,356
Bank interest income
178
-
**Direct payments**
Payments to charitable causes
Bank Charges
558,533
200
90,674
-
**Total payments**
(558,733)
(90,674)
**(Deficit)/Surplus for the year**
**(374,839)**
**374,682**
**Statement of assets and liabilities at 30 September 2020**
**2020**
**2019**
**£**
**£**
**Monetary assets**
Cash at bank
57,456
397,674
**Current liabilities**
Other creditors
(38,196)
(3,576)
**Net assets**
**19,260**
**394,098**
**General Fund**
Opening balance
394,098
19,416
(Deficit)/Surplus for the year
(374,839)
374,682
Closing balance
**19,260**
**394,098**|**Year ended 30**
**September 2019**
**£**
**£**
465,356
-
90,674
-
(90,674)
**374,682**
**2020**
**2019**
**£**
**£**
57,456
397,674
(38,196)
(3,576)|**Year ended 30**
**September 2019**
**£**
**£**
465,356
-
90,674
-
(90,674)
**374,682**
**2020**
**2019**
**£**
**£**
57,456
397,674
(38,196)
(3,576)|**Year ended 30**
**September 2019**
**£**
**£**
465,356
-
90,674
-
(90,674)
**374,682**
**2020**
**2019**
**£**
**£**
57,456
397,674
(38,196)
(3,576)|
|---|---|---|---|---|---|
||||**2020**
**£**
57,456
(38,196)|||
||**(374,839)**||||**374,682**|
||||||**2019**
**£**
397,674
(3,576)|
||||**19,260**||**394,098**|
|||394,098
(374,839)|||19,416
374,682|
|||**19,260**|||**394,098**|
The accounts were signed and approved on behalf of the trustees on 2021.
**SVM Cohen - Treasurer AS Belilo – Trustee**
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## **BRITISH FRIENDS OF THE GIBRALTAR KOLLEL**
## **ANNUAL REPORT**
## **YEAR ENDED 30 SEPTEMBER 2020**
## **Notes to the Accounts - Accounting policies**
## **Statement of accounting policies**
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.
## **Basis of preparation**
These financial statements have been prepared in accordance with the _Statement of Recommended Practice_ (the SORP) and in accordance with applicable Accounting Standards.
## **Basis of accounting**
The financial statements are prepared in accordance with the historical cost convention.
## **Recognition of income**
Income from donations is recognised in the period for which it is received.
All income from short-term deposits is credited to the income and expenditure account in the period in which it is earned.
## **Foreign currency translation**
Transactions denominated in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the end of the financial period with all resulting exchange differences being taken to the income and expenditure account in the period in which they arise.
## **Taxation**
The Charity is a registered charity and accordingly is exempt from taxation.
## **Liquid resources**
Liquid resources include sums on short-term deposits with recognised banks and building societies.
## **Related party transactions**
None of the trustees were paid any remuneration or expenses during the year.
## **Other creditors**
Other creditors include mainly donations that will be provided to the charities during the year or have been deferred due to the donations being under certain events and conditions.
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