Registered number: 04015054 Charity number: 1086054
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
UNAUDITED
DIRECTORS/TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Directors/Trustees and | 1 |
| advisers | |
| Directors/Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 - 8 |
| Notes to the financial statements | 9 - 16 |
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS DIRECTORS/TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2022
| Directors/Trustees | N.C. Blau, Chairman |
|---|---|
| M.N. Lipschitz | |
| E. Schlesinger | |
| Company registered number 04015054 Charity registered number 1086054 Registered office 11c Grosvenor Way London E5 9ND Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA |
Page 1
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
DIRECTORS/TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2022
The Directors/Trustees present their annual report together with the financial statements of the Company for the 1 June 2021 to 31 May 2022. The Annual report serves the purposes of both a Directors/Trustees' report and a directors' report under company law. The Directors/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
The charitable company is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The objects of the charitable company are:-
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The relief of poverty amongst elderly or persons in conditions of need, hardship and distress.
-
The advancement of religion.
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The advancement of education.
-
To promote any charitable purpose for the benefit of the community.
They are carried out by means of providing grants to charitable institutions.
In setting objectives and planning for activities, the Directors/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
Main achievements of the Company
The transactions and financial position of the charitable company were as shown in the accounts. Grants of £30,000 (2021: £30,000) were made to charitable institutions.
Financial review
Reserves policy
The reserves of £913,468 (2021: £908,832) represent funds not yet granted and fixed assets. The trustees do not seek to maintain reserves other than to ensure that they continue the activities of the charity. In the opinion of the directors/trustees the present level of funding is adequate to support the continuation of the charity’s activities.
Page 2
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
DIRECTORS/TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2022
Principal risks and uncertainties
The major risks to which the charitable company is exposed have been reviewed and systems have been established to mitigate those risks. The directors/trustees have complied with the duty in the Charities Act 2011 to have due regard to guidance published by the Charity Commission, including public benefit guidance.
Structure, governance and management
Constitution
Rabbi BZ Blau Memorial Fund Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
Methods of appointment or election of Directors/Trustees
The management of the Company is the responsibility of the Directors/Trustees who are elected and co-opted under the terms of the Memorandum of Association.
Statement of Directors/Trustees' responsibilities
The Directors/Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Directors/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 Directors/Trustees to prepare financial statements for each financial . Under company law, the Directors/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 Directors/Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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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 Directors/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 Directors/Trustees on 21 August 2022 and signed on their behalf by:
Page 3
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
DIRECTORS/TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2022
N.C. Blau Director/Trustee
Page 4
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2022
Independent examiner's report to the Directors/Trustees of Rabbi BZ Blau Memorial Fund Limited ('the Company')
I report to the charity Directors/Trustees on my examination of the accounts of the Company for the year ended 31 May 2022.
Responsibilities and basis of report
As the Directors/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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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: 21 August 2022
D Wolffe FCCA
34 Braydon Road London N16 6QB
Page 5
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2022
| Note Income from: Donations Rents Receivable from UK Properties UK Interest Receivable Total income Expenditure on: Raising funds: 3 Property Costs . Other raising funds Charitable activities: Grants Made Administraion Expenses 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 600 41,107 2 41,709 5,563 801 30,000 709 37,073 4,636 908,832 4,636 913,468 |
Total funds 2022 £ 600 41,107 2 41,709 5,563 801 30,000 709 37,073 4,636 908,832 4,636 913,468 |
Total funds 2021 £ 350 27,766 3 28,119 3,737 - 30,000 673 34,410 (6,291) 915,123 (6,291) 908,832 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 16 form part of these financial statements.
Page 6
RABBI BZ BLAU MEMORIAL FUND LIMITED (A company limited by guarantee) REGISTERED NUMBER: 04015054
BALANCE SHEET AS AT 31 MAY 2022
| 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 9 Unrestricted funds 9 Total funds |
3,489 10,277 13,766 (600) |
2022 £ 900,303 900,303 13,166 913,469 913,469 913,469 - 913,469 913,469 |
- 9,855 9,855 (1,380) |
2021 £ 900,357 |
|---|---|---|---|---|
| 900,357 8,475 |
||||
| 908,832 | ||||
| 908,832 | ||||
| 908,832 | ||||
| - 908,832 |
||||
| 908,832 |
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 Directors/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 Directors/Trustees on 21 August 2022 and signed on their behalf by:
Page 7
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee) REGISTERED NUMBER: 04015054
BALANCE SHEET (CONTINUED) AS AT 31 MAY 2022
N.C. Blau
Director/Trustee
The notes on pages 9 to 16 form part of these financial statements.
Page 8
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
1. General information
The charitable company was established by a Memorandum and Articles of Association with the objects of relief of poverty amongst elderly or persons in conditions of need, hardship and distress; advancement of religion; advancement of education; and promotion of any charitable purpose for the benefit of the community. They are carried out by means of providing grants to charitable institutions.
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.
Rabbi BZ Blau Memorial Fund 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 9
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
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:
Fixtures and fittings - 15%
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
General funds are unrestricted funds which are available for use at the discretion of the Directors/Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Page 10
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
3. Expenditure on raising funds
Property costs
| Unrestricted funds 2022 £ Ground rent 170 Repairs and maintenance 1,493 Insurance 565 Agent's commission 3,374 Depreciation 54 Sundry expenses 180 Light and heat 528 6,364 Unrestricted funds 2021 £ Ground rent 170 Repairs and maintenance 623 Insurance 538 Agent's commission 2,343 Depreciation 63 3,737 |
Total funds 2022 £ 170 1,493 565 3,374 54 180 528 |
|---|---|
| 6,364 | |
| Total funds 2021 £ 170 623 538 2,343 63 |
|
| 3,737 |
Page 11
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
4. Analysis of grants
| Relief of poverty Education Talmudical colleges Synagogue Relief of poverty Education Talmudical colleges Religious institute Synagogue |
Grants to Institutions 2022 £ 10,000 10,000 5,000 5,000 30,000 Grants to Institutions 2021 £ 10,000 5,000 5,000 5,000 5,000 30,000 |
Total funds 2022 £ 10,000 10,000 5,000 5,000 |
|---|---|---|
| 30,000 | ||
| Total funds 2021 £ 10,000 5,000 5,000 5,000 5,000 |
||
| 30,000 |
5. Administraion expenses
| Unrestricted funds 2022 £ General expenses 13 Bank charges 96 Accountancy fees 300 Independant examiner's fee 300 709 |
Total funds 2022 £ 13 96 300 300 |
|---|---|
| 709 |
Page 12
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
5. Administraion expenses (continued)
| Bank charges Accountancy fees Independant examiner's fee |
Unrestricted funds 2021 £ 73 300 300 673 |
Total funds 2021 £ 73 300 300 673 |
|---|---|---|
6. Tangible fixed assets
| Cost or valuation At 1 June 2021 At 31 May 2022 Depreciation At 1 June 2021 Charge for the year At 31 May 2022 Net book value At 31 May 2022 At 31 May 2021 |
Long-term leasehold property £ 900,000 900,000 - - - 900,000 900,000 |
Fixtures and fittings £ 4,620 4,620 4,263 54 4,317 303 357 |
Total £ 904,620 |
|---|---|---|---|
| 904,620 | |||
| 4,263 54 |
|||
| 4,317 | |||
| 900,303 | |||
| 900,357 |
Page 13
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
6. Tangible fixed assets (continued)
The Company has adopted a policy of revaluation for tangible fixed assets. Had these assets been measured at historic cost, the carrying values would have been as follows:
| Long-term leasehold property Debtors Due within one year Other debtors Creditors: Amounts falling due within one year Accruals |
2022 £ 230,000 2022 £ 3,489 3,489 2022 £ 600 |
2021 £ 230,000 |
|---|---|---|
| 2021 £ - |
||
| - | ||
| 2021 £ 1,380 |
7. Debtors
8. Creditors: Amounts falling due within one year
Page 14
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
9. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Reserves Statement of funds - prior year Unrestricted funds General Funds - all funds Reserves |
Balance at 1 June 2021 £ - 908,832 908,832 Balance at 1 June 2020 £ - 915,123 915,123 |
Income £ 41,709 - 41,709 Income £ 28,119 - 28,119 |
Expenditure £ (37,072) - (37,072) Expenditure £ (34,410) - (34,410) |
Balance at 31 May 2022 £ 4,637 908,832 913,469 Balance at 31 May 2021 £ (6,291) 915,123 908,832 |
|---|---|---|---|---|
10. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 900,303 Current assets 13,766 Creditors due within one year (600) Total 913,469 |
Total funds 2022 £ 900,303 13,766 (600) 913,469 |
|---|---|
Page 15
RABBI BZ BLAU MEMORIAL FUND LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
10. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 900,357 9,856 (1,380) 908,833 |
Total funds 2021 £ 900,357 9,856 (1,380) 908,833 |
|---|---|---|
11. Related party transactions
The company is not controlled by any particular party
Ground rent of £170 was paid to a brother of two of the directors/trustees.
Page 16