Friends of Eidah Charedeis Othodox Council of Jerusalem
Trustees' Report and Unaudited Accounts
31 March 2022
Friends of Eidah Charedeis Othodox Council of Jerusalem Contents
| Pages | |
|---|---|
| Trustees'AnnualReport | 2 to 3 |
| IndependentExaminer'sReport | 4 |
| Statement of FinancialActivities | 5 |
| BalanceSheet | 6 |
| Notesto the Accounts | 7 to 12 |
| DetailedStatement of FinancialActivities | 13 |
Page 1
Friends of Eidah Charedeis Othodox Council of Jerusalem Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1096897
Trustees
The following trustees served during the year:
E. Schlesinger
S. Schlesinger
Accountants
S J Sheldon Ltd
20 Clarence Road
Hale
Cheshire
WA15 8SG
OBJECTIVES AND ACTIVITIES
Friends of Eidah Charedeis Orthodox Council of Jerusalem is a registered charity
The charity is constituted by trust deed dated 22 October 2022
ACHIEVEMENTS AND PERFORMANCE
-
The charity received donations during the year of £299,533 (2021 £413,160)
-
The charity made donations during the year of £300,350 (2021 £446,386)
FINANCIAL REVIEW
The financial results of the charity's activities for the year are reflected in the attached financial statements.
The trustees retain reserves as necessary and where appropriate, consolidate funds
in order to make more substantial grants which they feel to be appropriate
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
Page 2
Friends of Eidah Charedeis Othodox Council of Jerusalem Trustees Annual Report
- E. Schlesinger
Trustee 16 January 2023
Page 3
Independent Examiners Report
Friends of Eidah Charedeis Othodox Council of Jerusalem
Independent Examiner's Report to the trustees of Friends of Eidah Charedeis Othodox Council of Jerusalem
I report to the trustees on my examination of the financial statements of Friends of Eidah Charedeis Othodox Council of Jerusalem for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by being a qualified member of Institute of Financial Accountants.
I have completed my examination. I can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Simon Sheldon
Institute of Financial Accountants
S J Sheldon Ltd
20 Clarence Road
Hale Cheshire
WA15 8SG 16 January 2023
Page 4
Friends of Eidah Charedeis Othodox Council of Jerusalem
Statement of Financial Activities
for the year ended 31 March 2022
| for the year ended 31 March 2022 | ||||
|---|---|---|---|---|
| Notes Income and endowments from: Donationsandlegacies 3 Total Expenditure on: Charitableactivities 4 Other 5 Total Netgainsoninvestments Net expenditure Transfersbetweenfunds Net expenditure before other gains/(losses) Othergainsandlosses Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward |
Unrestricted funds |
Totalfunds | Totalfunds | |
| 2022 | 2022 | 2021 | ||
| £ | £ | £ | ||
| 299,533 | 299,533 | 413,160 | ||
| 299,533 | 299,533 | 413,160 | ||
| 300,550 | 300,550 | 446,911 | ||
| 1,506 | 1,506 | - | ||
| 302,056 | 302,056 | 446,911 | ||
| - | - | - | ||
| (2,523) | (2,523) | (33,751) | ||
| - | - | - | ||
| (2,523) | (2,523) | (33,751) | ||
| (2,523) | (2,523) | (33,751) | ||
| (24,940) | (24,940) | 8,811 | ||
| (27,463) | (27,463) | (24,940) | ||
Page 5
Friends of Eidah Charedeis Othodox Council of Jerusalem Balance Sheet
at 31 March 2022
| at 31 March 2022 | ||
|---|---|---|
| Charity No.1096897 Current assets Debtors 7 Cashat bankandin hand Creditors: Amountfallingdue within one year 8 Netcurrent assets/(liabilities) Totalassets lesscurrentliabilities Creditors: Amountsfallingdueafter more than one year 9 Netliabilitiesexcludingpension asset orliability Totalnetliabilities Thefundsofthecharity Restrictedfunds 10 Unrestrictedfunds 10 Generalfunds Reserves 10 Totalfunds Approved by the trusteeson 16January 2023 |
2022 £ 8,911 9,459 18,370 (5,000) 13,370 13,370 (40,833) (27,463) (27,463) (27,463) (27,463) (27,463) |
2021 £ - 27,560 |
| 27,560 (52,500) |
||
| (24,940) (24,940) - |
||
| (24,940) | ||
| (24,940) | ||
| (24,940) | ||
| (24,940) | ||
| (24,940) | ||
And signed on their behalf by:
E. Schlesinger
Trustee 16 January 2023
Page 6
Friends of Eidah Charedeis Othodox Council of Jerusalem
Notes to the Accounts
for the year ended 31 March 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
Friends of Eidah Charedeis Othodox Council of Jerusalem Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs.
-
Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other - short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
Friends of Eidah Charedeis Othodox Council of Jerusalem
Notes to the Accounts
- 2 Statement of Financial Activities - prior year
| 2 Statement ofFinancialActivities-prior year |
|||
|---|---|---|---|
| Income and endowmentsfrom: Donationsandlegacies Total Expenditure on: Charitableactivities Total Netincome Netincome before other gains/(losses) Othergainsandlosses: Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward 3 Incomefrom donationsandlegacies Donationsandgrants 4 Expenditure oncharitable activities Expenditureoncharitable activities Governancecosts Bankcharges |
Unrestricted £ 299,533 299,533 Unrestricted £ 300,350 200 300,550 |
Unrestricte dfunds 2021 £ 413,160 413,160 446,911 446,911 (33,751) (33,751) (33,751) 8,811 (24,940) Total 2022 £ 299,533 299,533 Total 2022 £ 300,350 200 300,550 |
Totalfunds 2021 £ 413,160 |
| 413,160 446,911 |
|||
| 446,911 | |||
| (33,751) | |||
| (33,751) | |||
| (33,751) 8,811 |
|||
| (24,940) | |||
| Total 2021 £ 413,160 |
|||
| 413,160 | |||
| Total 2021 £ 446,386 525 |
|||
| 446,911 |
Page 9
Friends of Eidah Charedeis Othodox Council of Jerusalem
Notes to the Accounts
5 Other expenditure
| 5 Other expenditure |
|||
|---|---|---|---|
| Bankloanand overdraft interest payable 6 Staffcosts No employee received emolumentsin excessof£60,000. 7 Debtors Other debtors 8 Creditors: amountsfallingdue within one year Bankloansand overdrafts Othercreditors 9 Creditors: amountsfallingdueafter more than one year Bankloansand overdrafts 10 Movementinfunds At 1 April 2021 Restrictedfunds: Unrestrictedfunds: Generalfunds (24,940) Totalfunds (24,940) |
Unrestricted £ 1,506 1,506 2022 £ 8,911 8,911 2022 £ 5,000 - 5,000 2022 £ 40,833 40,833 Incoming resources (including other gains/losses ) £ 299,533 299,533 |
Total 2022 £ 1,506 1,506 Resources expended £ (302,056) (302,056) |
Total 2021 £ - |
| - | |||
| 2021 £ - |
|||
| - | |||
| 2021 £ 50,000 2,500 |
|||
| 52,500 | |||
| 2021 £ - |
|||
| - | |||
| At 31 March 2022 £ (27,463) |
|||
| (27,463) |
Page 10
Friends of Eidah Charedeis Othodox Council of Jerusalem
Notes to the Accounts
11 Analysis of net assets between funds
| 11 Analysisofnet assetsbetweenfunds | |||
|---|---|---|---|
| Netcurrentassets Creditorsduein more than one yearand provisions 12 Reconciliation ofnet debt Cashandcash equivalents Bankoverdrafts Bankloans Net debt |
At 1 April 2021 £ |
Unrestricte dfunds £ 13,370 (40,833) (27,463) Cashflows £ |
Total £ 13,370 (40,833) |
| (27,463) | |||
| At 31 March 2022 £ |
|||
| 27,560 | (18,101) | 9,459 | |
| - | (5,000) | (5,000) | |
| 27,560 (50,000) |
(23,101) | 4,459 (40,833) |
|
| 9,167 | |||
| (50,000) (22,440) |
9,167 (13,934) |
(40,833) | |
| (36,374) | |||
Page 11
Friends of Eidah Charedeis Othodox Council of Jerusalem Statement of Cash flows
for the year ended 31 March 2022
| Cashflowsfrom operatingactivities Net expenditure perStatement ofFinancialActivities Adjustmentsfor: Increasein tradeand other receivables (Decrease)/Increasein tradeand other payables Netcash usedin operatingactivities Netcashfrominvestingactivities Cashflowsfromfinancingactivities Repayment ofborrowings Netcash(usedin)/fromfinancingactivities Net(decrease)/increaseincash andcash equivalents Cash andcash equivalentsat the beginningofthe year Cash andcash equivalentsat the end ofthe year |
2022 £ (2,523) (8,911) (2,500) (13,934) - (9,167) (9,167) (23,101) 27,560 4,459 |
2021 £ (33,751) - 2,500 |
|---|---|---|
| (31,251) | ||
| - | ||
| 50,000 | ||
| 50,000 | ||
| 18,749 | ||
| - | ||
| 18,749 | ||
| Componentsofcash andcash equivalents | ||
| Cashand bankbalances | 9,459 | 27,560 |
| Bankoverdrafts | (5,000) | - |
| 4,459 | 27,560 |
Page 12
Friends of Eidah Charedeis Othodox Council of Jerusalem
Detailed Statement of Financial Activities
for the year ended 31 March 2022
| for the year ended 31 March 2022 | |||
|---|---|---|---|
| Income and endowmentsfrom: Donationsandlegacies Donationsandgrants Total income and endowments Expenditure on: Charitableactivities Governancecosts Bankcharges Totalofexpenditure oncharitable activities Other expenditure Bankloanand overdraftinterest payable Totalofexpenditure ofothercosts Totalexpenditure Netgainsoninvestments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward |
Unrestricted funds 2022 £ 299,533 299,533 299,533 300,350 300,350 200 200 300,550 1,506 1,506 1,506 302,056 - (2,523) (2,523) - (2,523) (24,940) (27,463) |
Totalfunds 2022 £ 299,533 299,533 299,533 300,350 300,350 200 200 300,550 1,506 1,506 1,506 302,056 - (2,523) (2,523) - (2,523) (24,940) (27,463) |
Totalfunds 2021 £ 413,160 |
| 413,160 | |||
| 413,160 446,386 |
|||
| 446,386 | |||
| 525 | |||
| 525 | |||
| 446,911 - |
|||
| - | |||
| - | |||
| 446,911 - |
|||
| (33,751) | |||
| (33,751) - |
|||
| (33,751) | |||
| 8,811 | |||
| (24,940) |
Page 13