REGISTERED COMPANY NUMBER: 04896581 (England and Wales) REGISTERED CHARITY NUMBER: 1100912
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023
FOR
ANSHEI SHALOM
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
ANSHEI SHALOM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 14 |
ANSHEI SHALOM (REGISTERED NUMBER: 04896581)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH SEPTEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th September 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 is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. The Charity is registered with the Charity Commission.
The Charity's object and its principal activities are:
(a) To advance the Orthodox Jewish faith primarily but not exclusively by administering and maintaining the Anshei Shalom synagogue and by providing the facilities for public communal worship for members of the Jewish faith.
(b) The advancement of Orthodox Jewish religious education primarily but not exclusively by arranging educational classes and courses of study at the synagogue and by providing facilities for religious study.
(c) The relief of poverty amongst persons of the Jewish faith.
The Charity is organised so that the Directors and Trustees meet regularly to manage its affairs. We are grateful to the many volunteers who assist the Charity in numerous ways.
Public benefit
The trustees have carefully considered the public benefit requirements and their duty to ensure that they are compliant with them. They feel that the activities as detailed below, more than adequately, satisfy the public benefit requirement.
The trustees continue to operate within the confines of the charity objectives namely in the respect of the advancement of Orthodox Jewish education by arranging educational classes and courses of study at the synagogue and by providing facilities for religious study. The Charity also provides the facilities for public communal worship for members of the Jewish faith and relief of poverty amongst persons of the Jewish faith by distributing donations and grants.
The trustees provide grants to a variety of charitable educational establishments encompassing assistance with staffing and curriculum. The trustees have also identified institutions which as a result of the economic downturn are experiencing a reduction in their fee income and have provided assistance to them in this respect as well.
Where the trustees make grants to institutions, they stipulate how these monies should be spent and constantly monitor the effectiveness of the allocation of the resources extended through the grant funding.
The trustees are of the opinion that this latter method of funding combines both objectives of the charity such that through the grants to the institution, students who are partly able or unable to pay their fees, are also assisted.
ACHIEVEMENT AND PERFORMANCE
The Trustees note that the charity has increased donations in the year, the cash reserve has increased substantially.
FINANCIAL REVIEW
Financial position
The Statement of Financial Activities shows a surplus for the year of £7,620 (2022 : deficit of £90,108).
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ANSHEI SHALOM (REGISTERED NUMBER: 04896581)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH SEPTEMBER 2023
FINANCIAL REVIEW
Reserves Policy
The charity's reserves policy is to maintain sufficient reserves to enable the charity to continue its activities and services at a meaningful level, should there be a considerably drop in the level of donations . As all income is derived from voluntary donations, the trustees review this position on a regular basis.
In view of this the trustees aim to maintain a level of reserves sufficient to meet three months basic operating costs. Having regard to the above the Trustees are of the opinion that the cash reserves held as at the year end
would be sufficient to meet three months basic operating costs and, they intend to increase the reserves held in the forthcoming year.
Going concern
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. For this reason they continue to adopt the going concern basis in preparing the financial statements.
FUTURE PLANS
The Charity continues to press forward with its mission and to broaden its appeal. Whilst it has taken on some additional expenditures, the Community has continued to financially support its initiatives. Whilst we do not expect much in the way of a surplus for the forthcoming year, we are not expecting any erosion in our reserves.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
All Directors of the company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named above served throughout the year. The Board has the power to appoint additional trustees as it considers fit to do so.
Related parties
There were no related parties during the year (2022- None).
Risk management
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at as high a level as possible, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions.
The Trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04896581 (England and Wales)
Registered Charity number
1100912
Registered office
923 Finchley Road Golders Green London NW11 7PE
Trustees
R Hayim Director H Elias A N Nejad
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ANSHEI SHALOM (REGISTERED NUMBER: 04896581)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH SEPTEMBER 2023
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary R Hayim
Independent Examiner
Akiva Kahan FCA Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 22nd May 2024 and signed on its behalf by:
R Hayim - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ANSHEI SHALOM
Independent examiner's report to the trustees of Anshei Shalom ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Akiva Kahan FCA
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE Date: May 2024
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ANSHEI SHALOM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH SEPTEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Charitable activities 3 Educational outreach and Religious Activities NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 287,031 347 287,378 279,758 7,620 122,587 130,207 |
2022 Total funds £ 131,440 27 131,467 221,575 (90,108) 212,695 122,587 |
|---|---|---|
The notes form part of these financial statements
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ANSHEI SHALOM (REGISTERED NUMBER: 04896581)
STATEMENT OF FINANCIAL POSITION 30TH SEPTEMBER 2023
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 27,435 9,800 118,347 128,147 (25,375) 102,772 130,207 130,207 130,207 130,207 |
2022 Total funds £ 28,047 14,648 87,486 102,134 (7,594) 94,540 122,587 122,587 122,587 122,587 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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ANSHEI SHALOM (REGISTERED NUMBER: 04896581)
STATEMENT OF FINANCIAL POSITION - continued 30TH SEPTEMBER 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 22nd May 2024 and were signed on its behalf by:
R Hayim - Trustee
The notes form part of these financial statements
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ANSHEI SHALOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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.
Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on reducing balance Heritage assets - not provided Computer equipment - 25% on reducing balance
Taxation
The charity is exempt from corporation 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.
Financial instruments
The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
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ANSHEI SHALOM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
1. ACCOUNTING POLICIES - continued
Financial instruments
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
| 2. | INVESTMENT INCOME | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Bank Interest received | 347 | 27 | ||
| 3. | CHARITABLE ACTIVITIES COSTS | |||
| Support | ||||
| Direct | costs (see | |||
| Costs | note 4) | Totals | ||
| £ | £ | £ | ||
| Educational outreach and Religious | ||||
| Activities | 275,948 | 3,810 | 279,758 |
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ANSHEI SHALOM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
4. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance | |
| costs | |
| £ | |
| Educational outreach and Religious | |
| Activities | 3,810 |
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 612 | 816 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30th September 2023 nor for the year ended 30th September 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30th September 2023 nor for the year ended 30th September 2022.
7. STAFF COSTS
Remuneration Policy
The governing principles of the charity's remuneration policy are as follows:
- To ensure delivery of the charity's objectives
-
To attract and retain a motivated workforce with the skills and expertise necessary for organisational
-
effectiveness
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The remuneration should be equitable and coherent accords th organisation
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To take account of the purposes, aims and values of the charity
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To ensure that pay levels and pay increment are appropriate in the context of the interest of our beneficiaries.
The average monthly number of employees during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| Employees | 3 | 3 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2023 | 2022 | ||
|---|---|---|---|
| £70,001 | - £80,000 | 1 | 1 |
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ANSHEI SHALOM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Charitable activities Educational outreach and Religious Activities NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS Plant and machinery £ COST At 1st October 2022 and 30th September 2023 1,016 DEPRECIATION At 1st October 2022 952 Charge for year 16 At 30th September 2023 968 NET BOOK VALUE At 30th September 2023 48 At 30th September 2022 64 |
Fixtures and fittings £ 64,663 62,313 588 62,901 1,762 2,350 |
Unrestricted fund £ 131,440 27 131,467 221,575 (90,108) 212,695 122,587 Heritage Computer assets equipment Totals £ £ £ 25,600 932 92,211 - 899 64,164 - 8 612 - 907 64,776 25,600 25 27,435 25,600 33 28,047 |
|---|---|---|
9. TANGIBLE FIXED ASSETS
The heritage assets disclosed in the accounts are Torah Scrolls. The carrying value of the scrolls at the beginning and the end of the year was £25,600.
The trustees carried out an impairment review on the scrolls and they believe that the carrying value is not significantly material in excess of its cost value.
The Torah scrolls were purchased over a 2 year period, five years ago.
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ANSHEI SHALOM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Rent deposit Prepayments |
2023 £ 4,357 4,459 984 9,800 |
2022 £ 7,914 4,459 2,275 |
|---|---|---|
| 14,648 |
Trade and other debtors are recognised at the settlement amount due after any discounts offered. Prepayments are valued at the amount prepaid net of any discounts due. Trade debtors represents gift aid reclaimable at the end of the year.
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Other creditors Accrued expenses |
2023 £ 19,371 3,947 207 1,850 25,375 |
2022 £ 1,589 4,009 196 1,800 |
|---|---|---|
| 7,594 |
Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts.
12. 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 1/10/22 £ 122,587 122,587 Incoming resources £ 287,378 287,378 |
Net movement At in funds 30/9/23 £ £ 7,620 130,207 7,620 130,207 Resources Movement expended in funds £ £ (279,758) 7,620 (279,758) 7,620 |
At 30/9/23 £ 130,207 |
|---|---|---|---|
| 130,207 | |||
| 7,620 |
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ANSHEI SHALOM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1/10/21 £ 212,695 212,695 |
Net movement in funds £ (90,108) (90,108) |
At 30/9/22 £ 122,587 |
|---|---|---|---|
| 122,587 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 131,467 131,467 |
Resources Movement expended in funds £ £ (221,575) (90,108) (221,575) (90,108) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/10/21 £ 212,695 212,695 |
Net movement in funds £ (82,488) (82,488) |
At 30/9/23 £ 130,207 |
|---|---|---|---|
| 130,207 |
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 £ 418,845 418,845 |
Resources Movement expended in funds £ £ (501,333) (82,488) (501,333) (82,488) |
|---|---|---|
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ANSHEI SHALOM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30th September 2023.
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