REGISTERED CHARITY NUMBER: 1096405
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
Chabad Retreat Centre
Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ
Chabad Retreat Centre
Contents of the Financial Statements for the Year Ended 31 December 2020
| 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 | 9 |
Chabad Retreat Centre
Report of the Trustees for the Year Ended 31 December 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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
To advance the Jewish Religion, particularly but not exclusively through the provision of a retreat, including facilities for prayer and mediation and counselling and the provision of spiritual guidance.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, the charity's incoming resources amounted to £36,533 and total resources expended amounted to £45,909. This has resulted in a net deficit of £9,376 for the year, decreasing the general fund from £800,079 to £790,703..
Due to Covid-19 the charity has not been able to operate under normal terms.. As a result of this the rental income is down.
FINANCIAL REVIEW
Reserves policy
It is the aim of the charity to maintain unrestricted funds at a level sufficient to enable it to continue to operate and meet day to day running costs.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity was established by a Trust Deed dated 5th March 2003, and registered with the Charity Commission under charity number 1096405.The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed. Appointment of Trustees is governed by the Trust Deed of the charity.
Recruitment and appointment of new trustees
Appointment of Trustees is governed by the Trust Deed of the charity. The board of Trustees is authorised to appoint new trustees to fill vacancies through resignation or death of an existing trustee.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1096405
Principal address
28 New Hall Road Salford Manchester M7 4HS
Trustees
A J Jaffe G E Cohen M Cohen M Sluckis
Independent Examiner
Ian Sluckis FCA Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ
Page 1
Chabad Retreat Centre
Report of the Trustees for the Year Ended 31 December 2020
Approved by order of the board of trustees on 28 October 2021 and signed on its behalf by:
M Cohen - Trustee
Page 2
Independent Examiner's Report to the Trustees of Chabad Retreat Centre
Independent examiner's report to the trustees of Chabad Retreat Centre
I report to the charity trustees on my examination of the accounts of Chabad Retreat Centre (the Trust) for the year ended 31 December 2020.
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
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the accounts do not accord with those records; or
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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.
Ian Sluckis FCA Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ Date: .............................................
Page 3
Chabad Retreat Centre
Statement of Financial Activities for the Year Ended 31 December 2020
| 2020 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 28,545 Charitable activities Rental income 7,988 Total 36,533 EXPENDITURE ON Charitable activities Rental expenses 39,156 Other expenses 6,753 Total 45,909 NET INCOME/(EXPENDITURE) (9,376) RECONCILIATION OF FUNDS Total funds brought forward 800,079 TOTAL FUNDS CARRIED FORWARD 790,703 |
2019 Total funds £ 11,560 23,995 35,555 29,882 7,812 37,694 (2,139) 802,218 800,079 |
|---|---|
The notes form part of these financial statements
Page 4
Chabad Retreat Centre
Balance Sheet 31 December 2020
| Notes FIXED ASSETS Tangible assets 4 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 5 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 6 Unrestricted funds TOTAL FUNDS |
2020 Unrestricted fund £ 784,016 7,436 (749) 6,687 790,703 790,703 790,703 790,703 |
2019 Total funds £ 790,018 11,560 (1,499) 10,061 800,079 800,079 800,079 800,079 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 October 2021 and were signed on its behalf by:
M Cohen - Trustee
The notes form part of these financial statements
Page 5
Chabad Retreat Centre
Notes to the Financial Statements for the Year Ended 31 December 2020
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Sefer Torah - 15% on reducing balance Fixtures and fittings - 15% on reducing balance
No depreciation is provided on the property as it is the policy of the charity to regularly maintain and repair the property such that its expected residual value is greater than cost. The trustees considers the estimated useful life of the property to be 50 years.
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. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
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continued...
Chabad Retreat Centre
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
4.
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Rental income Total EXPENDITURE ON Charitable activities Rental expenses Other expenses Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS COST At 1 January 2020 and 31 December 2020 DEPRECIATION At 1 January 2020 Charge for year At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 |
Freehold property £ 750,000 - - - 750,000 750,000 |
Sefer Torah £ 13,000 3,608 1,408 5,016 7,984 9,392 |
Unrestricted fund £ 11,560 23,995 35,555 29,882 7,812 37,694 (2,139) 802,218 800,079 Fixtures and fittings Totals £ £ 41,978 804,978 11,352 14,960 4,594 6,002 15,946 20,962 26,032 784,016 30,626 790,018 |
|---|---|---|---|
continued...
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Chabad Retreat Centre
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 6. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
2020 2019 £ £ 749 1,499 Net movement At At 1.1.20 in funds 31.12.20 £ £ £ 800,079 (9,376) 790,703 800,079 (9,376) 790,703 Incoming Resources Movement resources expended in funds £ £ £ 36,533 (45,909) (9,376) 36,533 (45,909) (9,376) Net movement At At 1.1.19 in funds 31.12.19 £ £ £ 802,218 (2,139) 800,079 802,218 (2,139) 800,079 Incoming Resources Movement resources expended in funds £ £ £ 35,555 (37,694) (2,139) 35,555 (37,694) (2,139) |
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continued...
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Chabad Retreat Centre
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.1.19 in funds 31.12.20 £ £ £ 802,218 (11,515) 790,703 802,218 (11,515) 790,703 |
Net movement At At 1.1.19 in funds 31.12.20 £ £ £ 802,218 (11,515) 790,703 802,218 (11,515) 790,703 |
|---|---|---|
| 790,703 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 72,088 | (83,603) | (11,515) |
| TOTAL FUNDS | 72,088 | (83,603) | (11,515) |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
8. GOING CONCERN
The charity's financial statements for the year ended 31 December 2020 have been prepared on a going concern basis as, after making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
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