Kahal Imrei Chaim Limited
Report and Financial Statements For The Year Ended 30 September 2020
Kahal Imrei Chaim Limited
| Contents | |
|---|---|
| Page | |
| Legal and Administrative Information | 1 |
| Report of The Trustees | 2 and 3 |
| Statement Of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes forming part of the financial statements | 6 to 8 |
| Accountants Report | 9 |
Kahal Imrei Chaim Limited
Trustees Mr Benjamin Goldberg Mr Pescah Neiman
Directors: Mr Benjamin Goldberg Mr Pescah Neiman
The Organisation is a Charitable Company.
Date Of Incorporation Date of Charity Registration
Registered Office
121 Clapton Common London E5 9AB
Company Number Charity Number
24 September 1998 21 December 1998 03641012 1073061
Page 1
Kahal Imrei Chaim Limited
Report of the Trustees
The Directors / Trustees present their annual report with accounts of the Charitable Company for the Year Ended 30 September 2020.
Status and Administration
The Charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association.
Charitable Objects
The objects of the charity are to advance the Orthodox Jewish faith by the provision of a place of worship and educational facilities
The trustees have considered the Charity Commission's general guidance on public benefit.
Directors / Trustees
The Directors and Trustees in office at the year end were
Mr Benjamin Goldberg Mr Pescah Neiman
Reserves Policy
All funds are ring fenced and are used in strict accordance with the Terms and Conditions of the Donors of the Funds.
Page 2
Kahal Imrei Chaim Limited
Report of the Management Committee
Responsibilities of the Trustees
Company and Charity Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year. In preparing those financial statements, the Trustees should follow best practice and
a. Select suitable accounting policies and the apply them consistently.
b. Make judgements and estimates that are reasonable and prudent.
c. Follow applicable accounting standards and the Charities SORP 2015, disclosing and explaining any departures in the financial statements.
d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Trustees are responsible for maintaining proper accounting records which
disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them as Trustees to ensure that the financial statements comply with the Charity Law and the Companies Act 2006.
The Trustees are also responsible for safeguarding the charitable company's assets
and hence for taking reasonable steps for the prevention and detection of fraud and other regularities. Members of The Management Committee
Members of The Management Committee, who are Directors for the purpose of Company Law and Trustees for the purpose of Charity Law are set out on Page 1.
Political and Charitable Donations
During the year, the Charitable Company made charitable contributions of £112,613 (2019 £272,162) The Euro
The impact of the Euro has been considered generally by the company. Although the impact of the changeover to the Euro is not currently anticipated to be significant, this issue is being closely monitored.
The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by The Trustees of Kahal Imrei Chaim Limited on 6 June 2021, and signed on its behalf by
Mr Benjamin Goldberg Trustee
Mr Pescah Neiman Trustee
Page 3
Kahal Imrei Chaim Limited
Statement Of Financial Activities
For The Year Ended 30 September 2020
| Notes | Restricted | Restricted | Unrestricted | 2020 | 2019 | |
|---|---|---|---|---|---|---|
| Funds | Funds | Total Funds | Total Funds | |||
| £ | £ | £ | £ | |||
| INCOMING RESOURCES | ||||||
| Charitable Objectives | ||||||
| Voluntary Income | 2 | 0 | 545,212 | 545,212 | 599,538 | |
| Grants | 2 | 10,000 | 10,000 | 0 | ||
| Investment Income | 2 | 154,665 | 154,665 | 124,257 | ||
| Interest Received | 0 | 0 | 0 | 0 | ||
| Total Incoming Resources | 0 | 709,877 | 709,877 | 723,795 | ||
| RESOURCES EXPENDED | ||||||
| Costs of Generating Funds | ||||||
| Fund Raising Costs | 0 | 0 | 0 | 0 | ||
| Net Incoming Resources Available | ||||||
| For Charitable Application | 0 | 709,877 | 709,877 | 723,795 | ||
| Charitable Expenditure | 5 | 0 | ||||
| Community Services | 294,810 | 294,810 | 331,507 | |||
| Grants Made | 112,613 | 112,613 | 272,162 | |||
| Governance Costs | 8 | 0 | 62,503 | 62,503 | 1,450 | |
| Total Charitable Expenditure | 0 | 469,926 | 469,926 | 605,119 | ||
| Total Resources Expended | 5 | 0 | 469,926 | 469,926 | 605,119 | |
| Net Movement In Funds | 0 | 239,951 | 239,951 | 118,676 | ||
| Total Funds at Brought Forward |
0 | 2,634,205 | 2,634,205 | 2,515,529 | ||
| Transfer Between Funds | 0 | 0 | 0 | |||
| Total Funds at Carried Forward |
14 | £ | 0 | £ 2,874,156 | £ 2,874,156 | £ 2,634,205 |
Page 4
Kahal Imrei Chaim Limited
Balance Sheet at 30 September 2020
| Balance Sheet at 30 September 2020 |
||||
|---|---|---|---|---|
| Notes Fixed Assets Tangible Assets 9 Current Assets Debtors 10 Cash at Bank and in Hand Creditors :Amounts falling due within one year 11 Net Current Assets / (Liabilities) Total assets less current liabilities Creditors :Amounts falling due after more than one year 12 Net Assets / (Liabilities) 13 Unrestricted Funds 14 Total Funds 14 |
£ | 2020 £ 3,281,996 3,281,996 141,535 224,104 365,639 (62,562) 303,077 3,585,073 (710,917) 2,874,156 2,874,156 2,874,156 |
£ | 2019 £ 3,282,201 |
| 3,282,201 61,626 65,000 126,626 (13,715) 112,911 3,395,112 |
||||
| (760,907) 2,634,205 |
||||
| £ | £ | 2,634,205 | ||
| 2,634,205 |
These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard for Small Entities.
For the financial year ended 30 September 2020 ,the company was entitled to an exemption from under Section 477 Companies Act 2006, and no notice has been deposited under Section 476. The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the company.
Approved by the Trustees on 6 June 2021, and signed on its behalf by Signed
Mr Benjamin Goldberg Trustee
Mr Pescah Neiman Trustee
The notes on pages 6 to 8 form part of these accounts.
Page 5
Kahal Imrei Chaim Limited
Notes To The Accounts - 30 September 2020
1) Principal Accounting Policies
Basis of Accounting
The Accounts have been prepared under the historical cost convention in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006, Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (effective from April 2015). Cash Flow
The accounts do not include a cash flow statement because the Charitable Company as a small reporting entity is exempt from the requirement to prepare such a statement.
Donations and Fund Accounting
Donations received for the general and main purposes of the Charity are included as unrestricted funds. Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Governors.
Resources Expended
Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year. These estimates are based on the time and level of activity as appropriate.
The irrecoverable element of VAT is included with the item of expense to which it relates.
Tangible Fixed Assets
Depreciation is provided after taking into account of any grants receivable at the following annual rates in order to write off each asset over its estimated useful life
Fixtures and Fittings 25% on net book value
| 2020 | 2020 | 2019 | 2019 | |||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Restricted | Unrestricted | Restricted | Unrestricted | |||
| 2) | Volunatry Income and Investment Income | |||||
| Voluntary Income | 0 | 545,212 | 599,538 | |||
| Investment Income | 0 | 154,665 | 0 | 124,257 | ||
| Grants | 0 | 10,000 | 0 | 0 | ||
| £ | 0 | £ 709,877 | £ | 0 | £ 723,795 | |
| **3) ** | Expenditure | 2020 | 2019 | |||
| £ | £ | |||||
| The operating surpluses stated after charging | ||||||
| Depreciation | £ 205 | £ 273 | ||||
| 4) | The average number of Employees during the year, on a | full time equivalent | ||||
| basis was | 2020 | 2019 | ||||
| 11 | 10 | |||||
| No Employee was paid above £60,000 per year. |
Page 6
Kahal Imrei Chaim Limited
| Notes To The Accounts - | 30 September 2020 | 30 September 2020 | 30 September 2019 | 30 September 2019 | ||
|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Restricted | Unrestricted | |||
| 5) Analysis of Total Resources Expended | 2020 | 2019 | ||||
| In Furtherance of Charitable Activites | £ | £ | ||||
| Community Services | ||||||
| Adverstising | 975 | 5,228 | ||||
| Campaign Expense | 0 | 0 | ||||
| Childern's Activties | 0 | 7,200 | ||||
| Council Tax | 1,220 | 2,097 | ||||
| Cleaning | 15,856 | 13,605 | ||||
| Depreciation Computers |
0 | 0 | ||||
| Fixtures and Fittings | 205 | 273 | ||||
| Wood Screens | 0 | 205 | 0 | 273 | ||
| Functions | 26,477 | 6,282 | ||||
| Furniture | 4,116 | 10,116 | ||||
| Insurance | 9,855 | 11,396 | ||||
| Interest and Charges | 23,494 | 25,213 | ||||
| Light ,Heat and Water | 28,118 | 33,183 | ||||
| Payroll | 33,804 | 54,992 | ||||
| Property Management | 0 | 3,320 | ||||
| Refreshments | 83,981 | 73,009 | ||||
| Religious Books | 814 | 10,000 | ||||
| Repairs and Maintenance | 59,690 | 58,283 | ||||
| Rent | 600 | 2,870 | ||||
| Travel | 5,605 | 14,440 | ||||
| Total Community Services | 0 | 294,810 | 0 | 331,507 | ||
| Governance Costs | 62,503 | 1,450 | ||||
| Total Resources Expended | £ 0 | £ 357,313 | £ 0 | £ 332,957 | ||
| 2020 | 2019 | |||||
| 6) Grants Made | £ | £ | ||||
| £ 112,613 | £ 272,162 |
7) Taxation
The Charitable Company is exempt from taxation on its charitable activities.
| 8) Governance Costs Accounting Bank Charges Legal and Professional Office Supplies Telephone 9) Tangible Fixed Assets Cost or valuation At Additions At Depreciation At Charge for the year At Net book values At At 30 September 2019 30 September 2019 30 September 2020 30 September 2019 30 September 2020 30 September 2020 |
2020 2019 £ £ 3,182 0 437 474 58,000 120 728 592 156 264 £ 62,503 £ 1,450 Land and Fixtures & Office Building Fittings Equipment £ £ £ 3,281,382 46,932 0 0 0 0 £3,281,382 £46,932 £0 0 46,113 0 0 205 0 £0 £46,318 £0 £ 3,281,382 £ 614 £ 0 £ 3,281,382 £ 819 £ 0 |
Total £ 3,328,314 0 £3,328,314 46,113 205 £46,318 £ 3,281,996 |
|---|---|---|
| £ 3,282,201 |
Page 7
Kahal Imrei Chaim Limited Notes To The Accounts - 30 September 2020
Paragraph 6.50 of the Financial Reporting Standard for Smaller Entities (effective April 2008) states that investment properties should not be subject to periodic charges for depreciation and further in accordance with paragraphs 6.52 and 6.53 are to be included in the Balance Sheet
at their open market value. In the Director's opinion, it is not possible to quantify the periodic charge which would otherwise have arisen as this is only one of the factors which he considers in his annual valuation process.
| 10) Debtors 2020 2019 £ £ Trade Debtors 80,564 655 Other Debtors 60,971 60,971 £ 141,535 £ 61,626 11) Creditors: Amounts falling due within one year 2020 2019 £ £ Trade Creditors 13,722 Other Creditors 48,840 13,715 Taxation and Social Security 0 0 £ 62,562 £ 13,715 12) Creditors: Amounts falling due after more than one year 2020 2019 £ £ Bank Loans and Overdrafts (secuered) 710,917 760,907 Debt due after more than one year £ 710,917 £ 760,907 13) Net Assets of The Charity's Funds Fixed Assets Net Current Assets / (Liabilities) Long Term Liabilities Fund Balances £ £ £ Restricted Funds 0 0 0 Unrestricted Funds 3,281,996 303,077 (710,917) 2,874,156 Total Funds £ 3,281,996 £ 303,077 £(710,917) £ 2,874,156 14) Unrestricted Funds : Movements In The Year Balance at Revaluation Balance at Income Expended Reserve £ £ £ £ £ 2,634,205 709,877 469,926 0 2,874,156 £ 2,634,205 £ 709,877 £ 469,926 £ 0 £ 2,874,156 30 September 2019 30 September 2020 |
10) Debtors 2020 2019 £ £ Trade Debtors 80,564 655 Other Debtors 60,971 60,971 £ 141,535 £ 61,626 11) Creditors: Amounts falling due within one year 2020 2019 £ £ Trade Creditors 13,722 Other Creditors 48,840 13,715 Taxation and Social Security 0 0 £ 62,562 £ 13,715 12) Creditors: Amounts falling due after more than one year 2020 2019 £ £ Bank Loans and Overdrafts (secuered) 710,917 760,907 Debt due after more than one year £ 710,917 £ 760,907 13) Net Assets of The Charity's Funds Fixed Assets Net Current Assets / (Liabilities) Long Term Liabilities Fund Balances £ £ £ Restricted Funds 0 0 0 Unrestricted Funds 3,281,996 303,077 (710,917) 2,874,156 Total Funds £ 3,281,996 £ 303,077 £(710,917) £ 2,874,156 14) Unrestricted Funds : Movements In The Year Balance at Revaluation Balance at Income Expended Reserve £ £ £ £ £ 2,634,205 709,877 469,926 0 2,874,156 £ 2,634,205 £ 709,877 £ 469,926 £ 0 £ 2,874,156 30 September 2019 30 September 2020 |
10) Debtors 2020 2019 £ £ Trade Debtors 80,564 655 Other Debtors 60,971 60,971 £ 141,535 £ 61,626 11) Creditors: Amounts falling due within one year 2020 2019 £ £ Trade Creditors 13,722 Other Creditors 48,840 13,715 Taxation and Social Security 0 0 £ 62,562 £ 13,715 12) Creditors: Amounts falling due after more than one year 2020 2019 £ £ Bank Loans and Overdrafts (secuered) 710,917 760,907 Debt due after more than one year £ 710,917 £ 760,907 13) Net Assets of The Charity's Funds Fixed Assets Net Current Assets / (Liabilities) Long Term Liabilities Fund Balances £ £ £ Restricted Funds 0 0 0 Unrestricted Funds 3,281,996 303,077 (710,917) 2,874,156 Total Funds £ 3,281,996 £ 303,077 £(710,917) £ 2,874,156 14) Unrestricted Funds : Movements In The Year Balance at Revaluation Balance at Income Expended Reserve £ £ £ £ £ 2,634,205 709,877 469,926 0 2,874,156 £ 2,634,205 £ 709,877 £ 469,926 £ 0 £ 2,874,156 30 September 2019 30 September 2020 |
|---|---|---|
| 2,874,156 | ||
15) Related Party Transactions
No trustee nor any person connected with them received any remuneration, or claimed any expense, during the year, from this or any related Charity.
There were no Related Party Transactions in the Year.
Page 8
Accountants Report to the Trustees on the Unaudited Accounts of the Charitable Company Kahal Imrei Chaim Limited
We report on the accounts for the year ended 30 September 2020 set out on pages 4 to 8.
Respective Responsibilities Of Directors / Trustees and Reporting Accountants
As described on page 3, the trustees as directors of the charitable company are responsible for the preparation of the accounts, and they consider that the company is exempt from an audit. It is our responsibility to carry out the procedures designed to enable us to report our opinion.
Accountant's Responsibilty
It is our responsibility to:
examine the accounts under section 43 of the 2011 Act;
to follow procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act; and
to state whether particular matters have come to our attention.
Basis of Opinion
Our work was conducted in accordance with the Statement of Standards for Reporting Accountants and so our procedures consisted of comparing the accounts with the accounting records kept by the company, and making such limited enquiries of the officers of the company as we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion.
Opinion
-
a) The Accounts are in agreement with the accounting records kept by the company under Section 447 of the Companies Act 2006;
-
b) Having regard to, and on the basis of, the information contained in those accounting records: (I) The Accounts have been drawn up in a manner consistent with the accounting requirements specified in section 386 of the Act; and
-
(II) The Company satisfied the conditions for exemption from an audit of the accounts for the year specified in section 476 of the Act and did not, at any time within that year, fall within any of the categories of companies not entitled to the exemption specified in section 477.
Date 06 June 2021
Reporting Accountants
C. Rosen & Co Certified Accountants 50 Craven Park Road South Tottenham London N15 6AB
Page 9