REGISTERED CHARITY NUMBER: 1078321
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Starview Charity
Martin+Heller 5 North End Road London NW11 7RJ
Starview Charity
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
Starview Charity
Report of the Trustees for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity was formed for the advancement of the education of persons expressing the orthodox Jewish faith, the advancement of the orthodox Jewish faith, and the relief of poverty in the orthodox Jewish community.
The charity is also actively involved in raising funds for general education, and relief of poverty, and to this end made substantial grants in the year under review.
Significant activities
In relation to the charity's activities there were no significant activities undertaken during the period.
Public benefit
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
Grantmaking
Grants are made to charitable institutions and organisations which accord with the objects of the Charity.
Volunteers
During the period, the charity did not have any volunteers to help with the objective of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from contributions received from donors.
The Statement of Financial Activities shows a net surplus of £120,295 after making total grants of £79,000 and the reserves stand at £1,461,584.
FINANCIAL REVIEW
Principal funding sources
Starview is pleased and fortunate to receive donations from a related organisation (see note 10). Also through its investment policy the returns from the investments have produced good rental income.
Overall the charity has experienced a good year and hopes it will continue to do so next year.
Investment policy and objectives
Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that investments in property meets their requirements to generate both income and capital growth.
Reserves policy
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
There are no significant future developments to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
Starview Charity
Report of the Trustees for the Year Ended 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
It is not the intention of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures.
Wider network
At present Starview Charity does not consider itself part of a wider network.
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1078321
Principal address
36 Leweston Place London N16 6RH
Trustees
Mrs J Sternlicht Mr A Sternlicht Mr B Gancz
Independent Examiner
Frank Martin (FCA) Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr A Sternlicht - Trustee
Page 2
Independent Examiner's Report to the Trustees of Starview Charity
Independent examiner's report to the trustees of Starview Charity
I report to the charity trustees on my examination of the accounts of Starview Charity (the Trust) for the year ended 31 March 2023.
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
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.
Frank Martin (FCA)
Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Starview Charity
Statement of Financial Activities for the Year Ended 31 March 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Charitable activities Charitable grants Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.23 Unrestricted fund £ 80,001 142,391 222,392 79,000 23,097 102,097 120,295 1,341,289 1,461,584 |
31.3.22 Total funds £ 60,001 149,641 |
|---|---|---|
| 209,642 | ||
| 153,990 18,564 |
||
| 172,554 | ||
| 37,088 1,304,201 |
||
| 1,341,289 |
The notes form part of these financial statements
Page 4
Starview Charity
Balance Sheet 31 March 2023
| Notes FIXED ASSETS Investment property 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
31.3.23 Unrestricted fund £ 1,199,798 41,084 236,641 277,725 (15,939) 261,786 1,461,584 1,461,584 1,461,584 1,461,584 |
31.3.22 Total funds £ 1,199,798 61,486 97,862 159,348 (17,857) 141,491 1,341,289 1,341,289 1,341,289 1,341,289 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr A Sternlicht - Trustee
The notes form part of these financial statements
Page 5
Starview Charity
Notes to the Financial Statements for the Year Ended 31 March 2023
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
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Rents received Deposit account interest |
31.3.23 £ 142,367 24 142,391 |
31.3.22 £ 149,641 - |
|---|---|---|
| 149,641 |
Page 6
continued...
Starview Charity
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
3. GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Charitable grants | ||
| 79,000 | 154,000 |
continued...
Page 7
Starview Charity
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
3. GRANTS PAYABLE - continued The total grants paid to institutions during the year was as follows:
| 31.3.23 | 31.3.22 | |
|---|---|---|
| £ | £ | |
| Shaykel Esuh | - | 7,000 |
| Ben Amram Charitable Trust | - | 2,000 |
| Amud Hachesed Trust | - | 3,000 |
| Beis Aharon Trust Ltd | 8,000 | 5,000 |
| Yad Vochessed Association Limited | 3,000 | 10,000 |
| Kollel Viznitz London | - | 3,000 |
| Shir Chesed Beis Yisroel | - | 10,000 |
| Beis Aharon TT Activity Centre | - | 5,000 |
| Chabad Israeli Centre | - | 12,000 |
| Chareidim Beis Shaymesh | 5,000 | 7,000 |
| Noam Halvovos | 4,000 | 3,000 |
| Success Stories | 5,000 | 3,000 |
| Beis Hamedrash Ohel Yakov | - | 5,000 |
| Live and Learn | - | 10,000 |
| BinyanTorah Inc. | - | 5,000 |
| CMZ LTD | - | 2,000 |
| Yetev Lev Jerusalem Trust | - | 5,000 |
| Kollel Torah Veyirah Ltd | - | 4,000 |
| Keren Chocmas ShlomoTrust | - | 4,000 |
| Friends of Mosdos Torah Veyirah | - | 8,000 |
| Beis Brucha Ltd | - | 1,600 |
| United Talmudical Association | - | 5,000 |
| Reb Shayley's Tzeduke | - | 3,000 |
| Chasdei Uvois | - | 2,000 |
| Keren Nissuin (Mislonim) | - | 1,500 |
| Tomchim | - | 1,500 |
| Machzikei Lomdei Torah | - | 2,000 |
| Utry | - | 5,000 |
| Kollel Veyoel Moshe | - | 3,000 |
| Toldos Aharon Trust Ltd | - | 1,400 |
| Keren Yesomim | - | 3,000 |
| Heichalei Hakodesh Centre | - | 4,000 |
| Beis Chinuch Lebonos Ltd | - | 4,000 |
| One Heart -Levechod | 4,000 | 4,000 |
| Ezer Viznitz Foundation | ||
| 10,000 | - | |
| Friends Of Beis Chinuch Lebonos | ||
| 11,000 | - | |
| Kupath Gemach Chaim Bechesed | ||
| 4,000 | - | |
| Merkaz Hatorah Of Belz | ||
| 4,000 | - | |
| Mifal Hachesed Vehatzedokoh | ||
| 7,000 | - | |
| OHR Emes | ||
| 9,000 | - | |
| Zoreya Tzedokos | ||
| 5,000 | - |
continued...
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Starview Charity
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
3. GRANTS PAYABLE - continued
79,000 154,000
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Charitable activities Charitable grants Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 60,001 149,641 |
|---|---|
| 209,642 | |
| 153,990 18,564 |
|
| 172,554 | |
| 37,088 1,304,201 |
|
| 1,341,289 |
continued...
Page 9
Starview Charity
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. INVESTMENT PROPERTY
| FAIR VALUE At 1 April 2022 and 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors J S Estates-Agents-Debtors J S Estates-Agents-S/Chg Fund 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS At 1/4/22 £ Unrestricted funds General fund 1,341,289 TOTAL FUNDS 1,341,289 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 222,392 TOTAL FUNDS 222,392 |
31.3.23 £ 120 10,964 30,000 41,084 31.3.23 £ 15,939 Net movement in funds £ 120,295 120,295 Resources expended £ (102,097) (102,097) |
£ 1,199,798 |
£ 1,199,798 |
|
|---|---|---|---|---|
| 1,199,798 | ||||
| 1,199,798 | ||||
| 31.3.22 £ 120 36,366 25,000 61,486 31.3.22 £ 17,857 At 31/3/23 £ 1,461,584 |
||||
| 1,461,584 | ||||
| Movement in funds £ 120,295 120,295 |
||||
| 120,295 |
continued...
Page 10
Starview Charity
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/21 £ Unrestricted funds General fund 1,304,201 TOTAL FUNDS 1,304,201 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 209,642 TOTAL FUNDS 209,642 |
Net movement in funds £ 37,088 37,088 Resources expended £ (172,554) (172,554) |
At 31/3/22 £ 1,341,289 |
At 31/3/22 £ 1,341,289 |
|
|---|---|---|---|---|
| 1,341,289 | ||||
| Movement in funds £ 37,088 37,088 |
||||
| 37,088 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/21 £ 1,304,201 1,304,201 |
Net movement in funds £ 157,383 157,383 |
At 31/3/23 £ 1,461,584 |
|---|---|---|---|
| 1,461,584 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 432,034 432,034 |
Resources Movement expended in funds £ £ (274,651) 157,383 (274,651) 157,383 |
Resources Movement expended in funds £ £ (274,651) 157,383 (274,651) 157,383 |
|---|---|---|---|
| 157,383 |
continued...
Page 11
Starview Charity
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
10. RELATED PARTY DISCLOSURES
The Charity received donations totalling £80,000 (2022:£60,000) from Sparktown Limited a company in which the Trustees Mrs J Sternlicht, Mr A Sternlicht and Mr J Sternlicht are directors.
Page 12