OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-08-31-accounts

CHAI NETWORK

TRUSTEES' REPORT AND ACCOUNTS

FOR THE PERIOD ENDED 31 AUGUST 2020

Charity No: 1091208

CHAI NETWORK

INDEX TO THE ACCOUNTS

CHARITY DETAILS 1
TRUSTEES' ANNUAL REPORT 2-4
INDEPENDENT EXAMINER'S REPORT 5
STATEMENT OF FINANCIAL ACTIVITIES 6
BALANCE SHEET 7
NOTES TO THE ACCOUNTS 8-11

CHAI NETWORK

CHARITY DETAILS

CHARITY NUMBER 1091208 TRUSTEES Bernard Verby Gary Glickman BANKERS NatWest plc PRINCIPAL OFFICE 3 Milton Crescent Cheadle Cheshire SK8 1NT

Page 1

CHAI NETWORK

TRUSTEES' REPORT ON THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2020

The trustees present their report along with the financial statements of the charity for the period 1 April 2019 to 31st August 2020. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and 9 and comply with the charity's trust deed and applicable law.

Charity details

The details of the charity are given on page 1.

Constitution and objects

Chai Network is constituted under a declaration of trust dated 20th December 2001, and is a registered charity number 1091208.

The objects of the charity are to spread knowledge of the Jewish religion and culture by the following means:

Objectives and activities

The main objectives are 'preparing ourselves for the ultimate redemption' and 'ensuring Jewish continuity' by reinforcing Jewish identity by providing nourishing educational and social activities, and reaching out to all, whether in times of crisis, celebration and in daily life. The charity's main income is from donations which enables the charity to achieve its objectives.

Achievements and performance

During the year the charity continued to run and expand on the following programmes and activities Youth Activities

Educational Services One to One Learning Alef Bet Club C-Kids Boys Bet Medrash Bat Mitzvah Club C-Teens Special Festival Celebrations Adult Education One to One learning Torah studies Office learning Lunch & Learn Guest Speakers JLI - Jewish Learning Institute Women programs Mommy & Me Rivkah’s Tent – Rosh Chodesh Society Special Events and Guest Lectures Women's Mikva General & Ongoing Shabbat & Festival Dinners Shabbat Morning Minyan with Kiddush Bikur Cholim – Room & Board for families of patients Meals on Wheels Judaica Services Friendship Circle www.chainetwork.com

continued

Page 2

CHAI NETWORK

TRUSTEES' REPORT ON THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2020

Review of activities and achievements during the year

The charity has obtained office space in Old Trafford to facilitate our ongoing Adult Education program to the working and business community.

As mentioned in the 2019 report the charity suffered a major flood with extensive damage. As a result of a major fundraising drive we were able to rebuild the Mikvah and repair the rest of the damaged areas making it fit once again for operational use to accommodate our various diverse activities and programmes.

With the start of Covid we adapted to the current situation and reached out to all that needed extra support and care, providing meals and food parcels to be delivered to the homes of those most in need, online programmes for all ages to engage and feel part of the community, and any other assistance that was needed, ensuring no one at any time should feel lonely, isolated or abandoned.

For this reason we extended our financial year until 31 August 2020 to allow us to focus our energy and resources to the task at hand assisting the community during these challenging times.

The charity had an excess of expenditure over income of £12,210 in the year, as detailed on page 6 of the accounts, of which £39,377 related to restricted funds for a Mikvah.

Review of results for the period

Overall the charity has a net surplus of funds of £73,400, as detailed on page 7 of the accounts. However there are net current liabilities of £30,847, and the charity is currently being supported by loans. Fund-raising campaigns are continuing to generate funds.

Future plans

The trustees plan to continue to increase the charity's current activities and programmes.

Recruitment and appointment of new trustees

The appointment of new trustees is at the discretion of the serving trustees. All decisions made on behalf of the charity are made by the trustees.

Public benefit

The main activities of the charity are described in the Trustees' Report above. All the charitable activities focus on spreading knowledge of the Jewish religion and culture, and are undertaken to further charitable purposes for the public benefit.

The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Page 3

CHAI NETWORK

TRUSTEES' REPORT ON THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2020

Trustees' responsibilities

The trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis).

In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the trustees on 30 June 2021, and is signed on behalf of them all.

………………………………………………..

Page 4

CHAI NETWORK

Independent examiner's report to the trustees of Chai Network

I report on the accounts of the charity for the period 1 April 2019 to 31st August 2020, which are set out on pages 6 to 11.

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. The charity's gross income does not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of ACCA.

It is my responsibility to:

Basis of independent examiners' report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 the seeking of explanations from you as 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 examiners' statement

In connection with my examination, no matter has come to my attention:

(a) to keep accounting records in accordance with section 130 of the 2011 Act; and

(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act

have not been met;

or

………………………………………….

H J Pinczewski and Co Chartered Certified Accountants Rico House Unit 6 Lower Ground Floor George Street Prestwich M25 9WS

Date ………………………………………………….

Page 5

CHAI NETWORK

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 AUGUST 2020

Notes
INCOMING RESOURCES
Donations and legacies
2
Charitable activities
3
Total income
RESOURCES EXPENDED
Costs of charitable activities
Activities and programmes
4
General administration
4
Bank charges and interest
4
Depreciation of fixed assets
4
Total expenditure
Reconciliation of funds
Net income/(expenditure) for the year
Net movement in funds
Total funds brought forward
Total funds carried forward
7		 Period-ended Period-ended Period-ended
31-Aug-20
31-Aug-20
31-Aug-20
£
£
£
Restricted
Unrestricted
Total
funds
funds
funds
15,140
198,630
213,770
0
34,365
34,365
15,140
232,995
248,135
19,966
109,713
129,679
0
95,815
95,815
0
300
300
34,551
0
34,551
54,517
205,828
260,345
(39,377)
27,167
(12,210)
104,542
(18,932)
85,610
65,165
8,235
73,400		 Year-ended
31-Mar-19
£
Total
funds
60,168
28,335
88,503
58,733
36,498
848
24,389
120,468
(31,965)
117,575
85,610

The statement of financial activities includes all gains and losses recognised in the period

All income and expenditure derive from continuing activities.

Page 6

CHAI NETWORK

BALANCE SHEET AS AT 31ST AUGUST 2020

Period-ended
Notes
31-Aug-20
£
Fixed assets
Tangible assets
5
103,747
Investments
6
500
104,247
Currrent assets
Bank
15,604
Gift Aid receivable
1,983
Other debtors
3,774
21,361
Creditors: amounts falling due within one year
Bank overdraft
0
PAYE
4,513
Other creditors
0
Loans
47,695
52,208
Net current liabilities
(30,847)
Total assets less current liabilities
73,400
- net assets
Funds of the charity
Restricted income funds
65,165
Unrestricted income funds
8,235
Total charity funds
7
73,400		 Year-ended
31-Mar-19
£
138,298
500
138,798
0
0
0
0
1,272
554
5,140
46,222
53,188
(53,188)
85,610
104,542
(18,932)
85,610		 Year-ended
31-Mar-19
£
138,298
500
85,610
104,542
(18,932)
85,610

Approved by the trustees on 30 June 2021, and is signed on behalf of them all.

………………………………………………..

Page 7

CHAI NETWORK

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2020

(1) Accounting policies

Charity information

Chai Network is a charity registered with the Charity Commission.

1.1 Basis of preparation of accounts and accounting convention.

The accounts have been prepared on an accruals basis.

The accounts have been prepared in accordance with the charity's governing document, with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), with '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)' (as amended for accounting periods commencing from 1 January 2016) and with the Charities Act 2011, which have been applied consistently (except as otherwise stated). The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Voluntary income and donations received in cash are accounted for as received by the charity. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised the time of the donation.

1.3 Costs of charitable activities

The costs of charitable activities includes all expenditure directly related to the charitable activity and fundraising ventures.

1.4 Restricted funds

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Further details are given in the notes to the accounts.

1.5 Unrestricted funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available for general funds.

1.6 Tangible assets for use by the charity and depreciation

Tangible assets for use by the charity are stated at cost less depreciation and any impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Mikvah on a straight line basis over 10 years

The gain or loss arising on a disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Page 8

CHAI NETWORK

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2020

(1) Accounting policies

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the charity estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8 Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

(2) Income from donations and legacies
(2) Income from donations and legacies
Donations
(3) Income from charitable activities
Educational services		 2020
2019
£
£
213,770
60,168
2020
2019
£
£
34,365
28,335

Page 9

CHAI NETWORK

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2020

(4) Costs of charitable activities Activities Bank Depreciation
and General charges and of fixed Total Total
**programmes ** administration interest assets 2020 2019
£ £ £ £ £ £
Holidays and shabbat 55,577 55,577 32,417
Grants - other 0 0 535
Youth activities & adult education 25,371 25,371 12,261
Women programs 7,645 7,645 620
Social and Bikur 11,335 11,335 6,200
Women's Mikvah 29,751 29,751 6,700
Council tax 6,746 6,746 3,066
Insurance 6,343 6,343 2,179
Utilities 18,324 18,324 5,152
Telephone 4,356 4,356 2,875
Maintenance 3,385 3,385 4,749
Wages 42,746 42,746 14,673
Bank charges 300 300 848
Depreciation of Mikvah 34,551 34,551 24,389
Travel and other expenses 13,915 13,915 3,804
129,679 95,815 300 34,551 260,345 120,468
(5) Tangible fixed assets for use by the charity Building
of Mikvah Total
Cost £ £
At 1 April 2019 and at 31 August 2020 243,892 243,892
Depreciation
At 1 April 2019 105,594 105,594
Charge for the period 34,551 34,551
Disposals 0 0
At 31 March 2019 140,145 140,145
Net book value
31 Augsut 2020 103,747 103,747
31 March 2019 138,298 138,298
(6) Investments Shares
Cost - other investments £
At 1 April 2019 and 31 August 2020 500
(7) Movements in funds Balance at Gift Aid Funds Balance at
01/04/2019 Income Allocation sent out 31/08/2020
Donation purpose £ £ £ £ £
Building a Mikvah - total restricted funds 104,542 15,000 140 (54,517) 65,165
Unrestricted funds (18,932) 231,152 1,843 (205,828) 8,235
Total funds 85,610 246,152 1,983 (260,345) 73,400
The purpose of the restricted fund is to build a Mikvah in the Cheadle area.

(8) Related party and trustee transactions

No trustees, nor any persons connected to them, have received any remuneration or expenses, and there have been no related party transactions.

Page 10

CHAI NETWORK

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 AUGUST 2020

(9) Staff costs
Wages and salaries
Social security costs
Average number of full time employees
There were no employees with emoluments above £60,000.
(10) Key management personnel compensation
Wages and salaries in total of key personnel		 2020
2019
£
£
42,776
14,767
(30)
(94)
42,746
14,673
2
2
2020
2019
£
£
25,617
12,215

Page 11