CHAI NETWORK TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Charlty No: 1091208
CHAI NETWORK INDEX TO THE ACCOUNTS HARITY DETAILS TRUSTEES. ANNUAL REPORT 24 INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEEr NOTES TO THE ACCOUNTS 8-11
CHAI NETWORK CHARITY DETAILS CHARITY NUMBER 1091208 TRUSTEES Bernard Verby Gary Glickman BANKERS Natlvest plc PRINCIPAL OFFICE 3 Mifton Crescent Cheadle Cheshire SK8 1NT Page 1
CHAI NETWORK TRUSTEES. REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 The trustees present their report along with the financial statements of the charty for the year 1 September 2020 to 31 st August 2021. The financial statements have been Prepa in aCrdance with the accounting policies set out on page 8 and 9 and compty with the charty's trust deed and applicable law. Chari details The details of the charity are given on page 1. Constitution and ob.ects Chai NOl0rk is constituted under a declaration of trust dated 20th December 2001, and is a registered Gharity number 1091208. The object5 of the chartty are to spread knovledge of the Jewtsh religion and Culture by the following means: - the publication of books. monographs, pamphlets and other reading material - the hokling of seminars whether residenbal or othemse - th8 @stablishment and 8xtension of libraries the provision of social and recreational facilities to enable and assist in the spreading and knowledge of the Jewish religion - such other means ag the tnjstees shall from to t'mè think fil Ob-ectives and actlvlties The main objectDies are 'prÈparing OUrgÈè# for the ultimate redÈmption' and'Ènguring Jewish continuty, by reinfor¢in9 Jewish identity by providing nourishing edutIonal and Social activities, and reaching out to all, whether in times of crisis. celebration and in daity life. The charity's main income is from donations which enables the charity to achieve its objectives. Achievements and rfomiance During the year the charity continued to run and expand on the folbwing programnps and activities Youth Acliv¢(ies EduGalional SeTvice5 One to One Learning Alef Bet Club C-lQd5 Boys Bel Medrash Bat Milzvah Club C-Teens Special Festival Celebrations Adult Education One to One leaming Torah studies Office leaming Lunch & Leam Guest Speakers JLI - Jewish Learning Institute Vvomen piogratns Challah Bake Special Events and Guest LecbJre5 Women's Mikva General & Ongoing Shabbat & Fe5tNal Dinners Shabbat Morning Minyan with Kithjush Bikur Cholim- Room & Board for familts of patients Meals on Meels Judaica Servi Fnendship Circle www.¢hainetwork.com ¢ontinu•d Page 2
CHAI NETWORK TRUSTEES. REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Review of activities and achievements durin the ear As mentioned in the 2019 report the Charity suffered a major flo1 extensive damage. As a result of a major fundraising drive we were able to rebuil(J the Mikvah and repair the rest of the damaged areas making it fit once again for operational use to accommcdate wr various drverse &tiwties and programmes. th 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 delivere(I lo Il homes of those most in need, online programmes for all ages to engage and feel part of the community. and any other assistan that was needed, ensuring no one al any lime should feel lonely. isolated or abandoned. We continue to accommcLlate all the individual needs of the community members, by prowding an in person option as well as an online option. The charity had an excess of income over expenditure of £1.912 in the year. as detailed on page 6 of the accounts. including an excess of expenditure over income of £32,689 relating to restricted funds for a Mikvah. Review of results for the erlod Overall the charity has a nel surplus of funds of £75,312, as detailed on page 7 of the accounts. Fund-raising campaigns are conlinuing to generate funds. Future The trustees plan to contsnue to inerease the charity's current actr"vrties and programmes. R¢¢ruitment and a ointment of new tr¢ The appointment of new trustees is al the di5CTebon of the serving tnjstees. Al deasions made on behalf of the charity ar8 mada by the trustees. Public bonofit The main activities of the charity are described in the Trustees. Report above. Al the charitable activities focus on Spreading knowledge of the Jwsh religion and culture. and are undertaken to further charitable purpose5 for the public benefit. The trustees confiryn that they have complied wih the duty in tion 17(5) of the Charities Act 2011 to have due regard to public benefit guidan published by the Charity Commission. Page 3
CHAI NETWORK TRUSTEES. REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Trustees, res nsibiliti The Iru8te88 are require(l under tho Charities Act 2011 to prepare finanaal statements for 8ath financial year which give a true and fair wew of the charitys ftnanaal activities during the year and of its financial wsition al the end of the year lunle5s the tharity is entiued to kyewe acwints on ts allemative receipts and payments basis). In preparing financial statements giving a true and fair wew, the trustees should follow best practice and: (a) select suitaL4e accountirKJ lICIeS ènd aprty trM consistenuy", Ibl make judgements and estimates that are 8¥On¥ble and prudent.. Ic) state whether applicable accounting standards and statements of recommended practice have been followed. subject lo any departures dis¢lo$ed and èxplainad in tha financial statements.. Id) prepare the financial statements on a going COrern basis unless it is inapproate lo presume that the charity will continue in operati. The tru5tee5 are responsible for keeping aCntIng re¢ords which disdose Nvith reasonable accuracy Ihe financial position of the Gharity and whith enable them to ascertain the finanaal position of the charity and which 9nabl8 them to ensure that th8 financial statements comply with applicable law and regulations. They arg also responsib18 for safeguarding the assets of the charity and hence for taking reasonable steps for the prgvenlion and detection of fraud and other irregularities. This report was approved by the twslees on and is signed on behalf of them all. Page 4
CHAI NETWORK Inde endent examinerfs re ort to the trustees of Chai Network I report on the accounts of the chanty for the year 1 September 2020 to 31st August 2021, which are set out on pages6tol1. Respectlve responslbllltlos of tntee5 and enmlner The charity's trustees are responsible for the preparation of the accounts. The tharity's trustees consider that an audit is nol required for this year under section 144 (2) of the Charilies Act 2011 (the 2011 Act)) and that an Independent examination is needed. The charity's gross incorrE does not exceed £250,000 and l am qualified lo undert8ke the examination by being 8 qualtfied member ofACCA. It Is my resFKsnsibllily to.. exanwne Ihe accounts under section 145 of the 2011 A(A: - to follow the procedures laid down in the General Direcbons given by the Charly Commkssioners under section 145 (5)(b) of the 2011 A(a', and - to state whether partlcular matters have con* to my attentlon. Basls of Independent examine, report My examinatlon was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a remew of the accounting reconls kept by the charity and a compari50n of the accounts presenled wf(h those records. It aLEo includes consideration of any unusual ftems 01 disclosures in the accounts, and the seeking of explanations trom you as trustees conceming any suoh matters. The procedures undertaken do not provMJe all the evidence that woukl be required in an audii, and, consequently, no opinion is given as to whether the accounts present a Irue and fair wevl and the port is linNled lo those matters set out in the statement below. Independent examlners, Statement In connection wrth my examination, no matter has come to my attentN)n: - which gives me reasonable cause to believe that, in any material respect, Ihe requirements- (a) lo keep a(OUntIng records in accordance with section 130 of the 2011 Act.. and {b) to prèpare accounts which accord with the accounting reconls and to comply with the accounting requirements of the 2011 Act have nol been met" or - to which, in my oplnlon, attentlon snoubj be drawn in order to enable a proper understan¢alng of the accounts lo be reached. H J Pinczewski and Co Chartered Certified Accountants Rico House Unli 6 Lower Ground Floor Georg8 Street PrestWiGh M25 9WS Date Page 5
CHAI NETWORK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021 Yearnded Yearnded Yearnded 31.Aug-21 31-Aug-21 31-Aug-21 Perlodnded 31-Aug-20 Notss R¢strl¢ted Unrestrlcted funds fun(ts Totsl funds Totsl funds INCOMING RESOURCES Donations an¢J legaoes Charitable activities Total Incomo 147.012 31.107 178,119 152,012 31,107 183,119 213,770 34.365 248,135 RESOURCES EXPENDED Co8t8 of charitablo activiti0# Activities and programme8 GeneTal administration Bank charges and Inte$1 Depreciation of frxe(l assets Total ex enditure 13,3(KJ 89.834 68.959 83,134 68,959 129,679 95.815 300 34,551 260,345 24.389 37,689 4.725 143,518 29,114 181,207 Reconci15ation of funds Net incomellexpenditurel forthe yeaT Net movement in funds 132,6891 34.601 1.912 {12,210} Total funds brought fomrd 65.165 8.235 73.41KJ 85.610 Total funds carried forward 32,476 42,836 7S,312 73,400 The statement of finanual actiVe8 inc4ude8 all gains and losses recognised in the period l income and expenditure derive from continuing aG*vfaes. Page 6
CHAI NETWORK BALANCE SHEET AS AT 31ST AUGUST 2021 Ygarndgd 31-Au9-21 Periodnded 31-Aug-20 Fixed assets Tangible as$¢ts Investments 99.831 500 1(K),331 IOY.747 500 104,247 Currrent assets Bank Gift Aid receivable Other debtors 44.170 6,813 4,614 55.597 15.804 1.983 3,774 21,361 Credltors.. amounts falllng due Ylthln one year PAYE Loans 4,513 47.e95 52.208 45,611 52.616 Net current aasets I Illabllltles) 2.981 (30.8471 Total assotslgss currgnt liabllltlos 103.312 n.400 Crèdltors: du• after mor• than one year Bank loan {28.(K(l} 75.312 73.4 Fund8 of the charlty Reslri¢tad in¢ome fijnds Unrestrided inwmg fvnd$ Totsl charrfy lunds 32.476 42.836 75,312 65,185 8.23S 73,400 Approved by the trustees on io..-Sfy!-.Thj is sIgnj on behalf oftt*m all. Page 7
CHAI NETWORK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 {1} Accounting poli¢ies Charity infomiation Chai Nefvlork is a charity registered wilh the Charity CorfflNsgM. 1.1 Bas1$ of prsparation of accounts and accountlng convention. The accounts have been prepared on an acc¥ual$ basis. The accounts have been prepared in accordance Yrith the tharity's goveming d¢xumenl, with applicaNe Unf(ed Kingdom Accounting Stsnijards {Un(Éed Kingdom Generally Accepted Aceounkn"ng Prath'cel, w1th'AUnts.ng and Reporting by chare5.. StateffEnl of RecomThnded Practicè appIlble lo ¢haritie$ pparing their accounts in accordan with the Financial Reportin9 Standard aPpIae in the UK and Republic of Ireland IFRS 1021. (as amended for accounb.ng periods cDmmenang from 1 January 2016) and with the ch3rib.es Act 2011, whlch have been applied consistenlty (except as othemse staled). The eb.anty 1$ a Public Berfft Entity as defin8d by FRS 102. The aOunts are prepared in sterling, whith is the ftjnclional ¢)Jrrery of the charity. Monetary amounts in these financial ststements a rounded to the nearest L The accounts have been prepad under the historical cost convention. The prinapal ac¢ounting policies adopted are set oui below. 1.2 Aeeountlng p•rfod These accounts cover the year 1 September 2020 10 31 August 2021. The comparative figures are for the period 1 April 2019 to 31 ALtgust 2020. 1.3 Incomè Income is recognised when tha tharity is legalty entitled lo tt after any rfamanee cgndilions have been mot, the amounts can be measuT&J reliabty, and it is probable that income wll be re¢eFved. Voluntary income and donations received in cash are accounted for as r8ceivtrd by th? tharity. Other donations are recognised onc£ the charity has been notified of th8 donation, unless perfomiance ¢ondib"ons require deferral of the amount Income tsx recoverable in relation to donations rotsNed urKler GiftAid or deeds of covenant is rec¢gnised the time of the donation. 1A Costs of charitsblg activities The costs of eharitabl• aetivthes indudg$ all expendrtLe directy rejattd to the charitable activity and fvndraising ventures. 1.$ R8strlct8d lundj Re8tri¢ied fvnds are to be usefl for 5peoffiG pr[Se$ as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Further details are gwen in the notes to tho accourts. 1.6 Unrestri¢t•d funds Unrestricted funds are donath)ns and other in()m1J resour Teceivabla or generate{1 for the objects of the ehgrity without fitrthèr rÉpÈ¢th•d purpts• and ar• AVAiSAbl• Iyr g•nr•l fvnd•. 1.7 Tanglble assets for use by the charity and depreciation Tangible assets for use by the charity are stated at less deeat*n and any imp3im)ent losses. DePClaI10n 18 provided at rates calculated to wrrte oft the cost of frAed assets. less their estsmaled reshyual value. overlheir expected usefijl lives on the follrMrNJ bases: Mikvah on a straight line basis over 10 year5 Motor vehicles on a reducing balance basis 25% The gain or1055 arin9 on a disposal of an asset is dtrtermined a5 the differen bthe8n the salè proceèd$ and the carying value of the asset, and is ¢redrte(l or charyed to profft or Io&8. Pag8 8
CHAI NETWORK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 (1) Accounting policieg 1.8 Impairment of fixed assets At each reporting end dale, the charity wews the Canying amcwnts of rts tangibk assets to Uefrrmine whathgr there is any indieation that Ihose assets have SLEffered an impainnent loss. If any such indication exists, the recoverable amunt of the asset is estimated in order to delerniine the extent of the impairment loss lif any). ere it is not possible to esb.mate the recoverable amount of an indNi(lual asset, the charity estimates the recoverable amount of th8 ¢ash-generalwig unit to which the asset belongs. 1.9 Inv•stsn•nts F¢xed asset investments afe stated al cost less prnMsNJn for diminubDn in Yu. 1.10 Cash and cash 8qulvalents Cash and Cash equivalents inejude cash in hand, deposits held at call with banks. and bank ovÈrdrafts. Bank overdrafts are shown wthin borrowin9s in current liabilthe5. 1.11 Critical a¢counting •stimate5 and judg•mgnts In the application of the chantys accounting poliaès. Ihè Trustèès arè rèquirèd to makè judgemènts, èstimato$ and assumptions about the cArrying amount of assets and liabile$ that are not readily appant from other sources. The estimates and asSOfAated a55umplions are based on historical experience and other factors that are Considereil lo be leVant. Ac*ual re5utt5 may dIff from these estimates. The estimates and underlying assumpt'ons are revithyed on an ongoing basis. Revk8ions to a¢nting estimates are recognised in the period in which the eslimate 1$ sed Whe the rewsion affects only that period, or in the period of the revision and fiJture penods where the revision affects both current and fvlure periods. {21 Income from donations and legacles 2021 2020 Dgnation$ 152.012 213,770 (31 In¢omo from ¢haritsbl¢ activities 2021 2020 Educational services 31,107 34,385 Pa9p 9
CHAI NETWORK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 (4) Costs of charltablo athltlo¥ A¢ttvlY Bank and General charyes and progrnmmeg admlnlstratlon Intorest Depre¢latlon of flxed ass•ts Total 2021 Total 2020 Holidays and shabbat Youth aCtiV.e5 8 aluli education Vvomen prograrns Social and Bikur Women's Mikvah Council ta% Insuran Utilitie5 Te18phon8 Maintenan Wages Bank d)arges Depreciation of Mikvah Depreciabon of motor vehides Travel and motor exwnses 42,345 13.689 42,345 13.689 4.365 9.435 13,300 9.370 3.586 7.912 2,860 5,463 32.407 55,577 25,371 7,645 11.335 29,751 6.746 6.343 18.324 4,35 3,385 42,746 300 34.551 13.3(Kl 9.370 7.912 32,407 24.389 4.725 24.389 4,725 7,361 181207 7,361 68,959 13,915 260,345 83,134 29.114 (S) TangibE• fix•d ass•ts for us• by th8 charlty Buildlng of Mlkvah Motor Veh5cle8 Total Cost At 1 Sèpt8mtr 2020 Additions Al 31 August 2¢y21 243,892 243,892 25,199 269,091 25.199 25.193 243,892 Depr•eiation At I September 2(r20 Charge for the period Dispo$al$ At 31 August 2021 140.146 24.389 140.146 29.114 4,725 164,535 4,725 169,260 Not book valu 31 August 2021 79.357 20,474 99,831 31 Auguyt 2020 103.746 103.746 (6) Inve$tmerrts Cost. other Investments At 1 September 2020 and 31 AuSt 2021 Shares 500 171 Mov•m•nts In funds Balan¢e al 0110912020 Gift Aid Allocatlon Funds nt out alan at 3110812021 In¢omo Donation purpose Building & Maintenan of Mikvah- total restricted fvnd5 65.165 137.6891 32,476 unstricted fvnd$ 171,3C6 6,813 1143,5181 42,836 Total funds 73,400 176,3C The PUTF05e of the restri¢aed tsnd is to build & maintain a Mikvah in the Cheadle area. 6,813 181,207 75,312 {81 R¢l¥ted porty and tru$te¢ tran$a¢tions No trustees, nDr any per50n5 conneLed to thwn. have any wuneralion or expenses, and there have been no related party transa¢tior6. Pagtr 10
CHAI NETWORK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 19) Stsff co$t8 2021 2020 Wages and Salaries Social security costs 32.407 42.776 1301 32,407 42.748 AveTage number offvll time empksyeas There werg nc employee$ wilh emoluments atYe £60.000. (10) Kgy management personnel compensation 2021 2020 Wages and salartes in total of key personnel 19,080 25,617 PaJe11