REGISTERED CHARITY NUMBER: 1097875
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
FOR
J & R CHARITABLE TRUST
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
J & R CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Trustees' Responsibility Statement | 3 | ||
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Notes to the Financial Statements | 7 | to | 12 |
J & R CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023
The trustees present their report with the financial statements of the charity for the year ended 30 June 2023. 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
The charity was registered on 9 June 2003.
The principal objectives of the charity are:
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-The advancement of religion in accordance with the Orthodox Jewish Faith
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-The relief of poverty, and
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-Any other activities recognised by English Law as charitable.
There have been no changes in the objectives since the last annual report.
Significant activities
During the year under review, the charity donated investment property to another charity.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aims and objectives and planning future activities and setting the grant making policy for the year.
The charity was set up to support the activities of religious Jewish organisations especially in the field of education. The trustees identify institutions and organisations which meet its criteria and regularly support a number of these institutions and organisations, which themselves are growing not only in England but also worldwide.
The charity is also supportive of organisations which are solely committed to the relief of poverty. Such organisations assist needy Jewish families financially and also through the distribution of basic necessities.
The income of the charity is derived from investments and donations. The trustees continued their support of those organisations deemed to promote the objects of this charity.
Grantmaking
The charity accepts applications for grants from representatives of various charities, which are reviewed by the trustees on a regular basis.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year under review, the charity received donations totalling £249,437 [2022 - £206,020] and made donations totalling £561,063 (2022 - £223,912) in line with its charitable objectives.
FINANCIAL REVIEW
Principal funding sources
The charity generates its income from investment property and donation from companies associated with the trustees.
Reserves policy
The charity maintains unrestricted free reserve at a level adequate to meet its short term operational obligation.
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J & R CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023
FINANCIAL REVIEW
Going concern
The trustees believe that the charity has enough resources to continue for in foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The charity does not currently intend to recruit any new trustees. Should this status change in the future, the trustees will adopt a suitable policy to recruit and train new trustees.
Related parties
Related party transaction and balance detail are disclosed in notes to the financial statement.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1097875
Principal address
4 Cazenove Road London N16 6BD
Trustees
J Fekete M Benedikt C A HONIG
Independent Examiner
M. A. Venitt Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 22 April 2024 and signed on its behalf by:
J Fekete - Trustee
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J & R CHARITABLE TRUST
TRUSTEES' RESPONSIBILITY STATEMENT FOR THE YEAR ENDED 30 JUNE 2023
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the 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 in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF J & R CHARITABLE TRUST
Independent examiner's report to the trustees of J & R Charitable Trust
I report to the charity trustees on my examination of the accounts of J & R Charitable Trust (the Trust) for the year ended 30 June 2023.
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:
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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.
M. A. Venitt
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
22 April 2024
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J & R CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023
| 30.6.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 249,437 Investment income 2 - Total 249,437 EXPENDITURE ON Raising funds 3 2,571 Charitable activities Charitable 561,063 Other 1,325 Total 564,959 NET INCOME/(EXPENDITURE) (315,522) RECONCILIATION OF FUNDS Total funds brought forward 841,515 TOTAL FUNDS CARRIED FORWARD 525,993 |
30.6.22 Total funds £ 206,020 13,723 |
|---|---|
| 219,743 | |
| 9,683 171,318 1,370 |
|
| 182,371 | |
| 37,372 804,143 |
|
| 841,515 |
The notes form part of these financial statements
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J & R CHARITABLE TRUST
STATEMENT OF FINANCIAL POSITION 30 JUNE 2023
| Notes FIXED ASSETS Tangible assets 6 Investment property 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
30.6.23 Unrestricted fund £ - - - 524,596 35,727 560,323 (34,330) 525,993 525,993 525,993 525,993 525,993 |
30.6.22 Total funds £ 102,496 248,025 350,521 530,696 - 530,696 (39,702) 490,994 841,515 841,515 841,515 841,515 |
|---|---|---|
The financial statements were approved and authorized for issue by the Board of Trustees and authorised for issue on 22 April 2024 and were signed on its behalf by:
J Fekete - Trustee
The notes form part of these financial statements
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J & R CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance Fixtures and fittings - 15% on reducing balance
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.
continued...
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J & R CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | ||
|---|---|---|
| 30.6.23 | 30.6.22 | |
| £ | £ | |
| Rents received | - | 13,723 |
| RAISING FUNDS | ||
| Investment management costs | ||
| 30.6.23 | 30.6.22 | |
| £ | £ | |
| Insurance | - | 1,164 |
| Light and heat | - | 3,125 |
| Repairs and renewals | - | 871 |
| Commission paid | - | 961 |
| Rates and water | - | 211 |
| Function expenses | 2,571 | 3,351 |
| 2,571 | 9,683 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 206,020 |
| Investment income | 13,723 |
| Total | 219,743 |
| EXPENDITURE ON | |
| Raising funds | 9,683 |
| Charitable activities | |
| Charitable | 171,318 |
| Other | 1,370 |
| Total | 182,371 |
| NET INCOME | 37,372 |
continued...
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J & R CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS Improvements to property £ COST At 1 July 2022 158,712 Disposals (84,801) At 30 June 2023 73,911 DEPRECIATION At 1 July 2022 and 30 June 2023 73,911 NET BOOK VALUE At 30 June 2023 - At 30 June 2022 84,801 7. INVESTMENT PROPERTY FAIR VALUE At 1 July 2022 Disposals At 30 June 2023 NET BOOK VALUE At 30 June 2023 At 30 June 2022 |
Unrestricted fund £ 804,143 841,515 Fixtures and fittings Totals £ £ 33,895 192,607 (17,694) (102,495) 16,201 90,112 16,201 90,112 - - 17,694 102,495 £ 248,025 (248,025) - - 248,025 |
|---|---|
continued...
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J & R CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 10) Trade creditors Other creditors 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 11. 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 |
At 1.7.22 £ 841,515 841,515 Incoming resources £ 249,437 249,437 |
30.6.23 30.6.22 £ £ - 25,983 524,596 504,713 524,596 530,696 30.6.23 30.6.22 £ £ - 330 - 1 34,330 39,371 34,330 39,702 30.6.23 30.6.22 £ £ - 330 Net movement At in funds 30.6.23 £ £ (315,522) 525,993 (315,522) 525,993 Resources Movement expended in funds £ £ (564,959) (315,522) (564,959) (315,522) |
|---|---|---|
continued...
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J & R CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.7.21 £ Unrestricted funds General fund 804,143 TOTAL FUNDS 804,143 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 219,743 TOTAL FUNDS 219,743 A current year 12 months and prior year 12 months combined position is as follows: At 1.7.21 £ Unrestricted funds General fund 804,143 TOTAL FUNDS 804,143 |
Net movement At in funds 30.6.22 £ £ 37,372 841,515 37,372 841,515 Resources Movement expended in funds £ £ (182,371) 37,372 (182,371) 37,372 Net movement At in funds 30.6.23 £ £ (278,150) 525,993 (278,150) 525,993 |
At 30.6.22 £ 841,515 |
|---|---|---|
| 841,515 | ||
| 37,372 | ||
| At 30.6.23 £ 525,993 |
||
| 525,993 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 469,180 469,180 |
Resources Movement expended in funds £ £ (747,330) (278,150) (747,330) (278,150) |
Resources Movement expended in funds £ £ (747,330) (278,150) (747,330) (278,150) |
|---|---|---|---|
| (278,150) |
continued...
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J & R CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2023.
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