REGISTERED CHARITY NUMBER: 1101383
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 17TH AUGUST 2021
FOR
GATESHEAD KOLLEL HORO'AH
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
GATESHEAD KOLLEL HORO'AH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 17TH AUGUST 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
GATESHEAD KOLLEL HORO'AH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 17TH AUGUST 2021
The trustees present their report with the financial statements of the charity for the year ended 17th August 2021. 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 activities
The objectives are as follows:-
-
the advancement of Orthodox Jewish religious education.
-
the advancement of the Orthodox Jewish religion and
-
the relief of poverty and illness amongst members of the Jewish faith.
ACHIEVEMENT AND PERFORMANCE
The Board of Trustees are satisfied with the performance of the charity during the period and the position at 17th August 2020 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
FINANCIAL REVIEW
The statement of financial activities shows net incoming resources for the year of a revenue nature of £98,432 and net realised outgoing resources of £98,945. The total reserves at the year end stand at £2,190.
FUTURE PLANS
The need for our services is increasing and we plan to continue doing what we can to assist. However, the trustees realise that we must use the resources we have wisely and so we will continue to target those problems where we have expertise to make the most difference. We therefore intend to continue our approach of education and training with further projects to build on the previous ones.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Trustees and organisational structure
The trust is an unincorporated trust, constituted under a Trust Deed dated 10 November 2003. The trustees are appointed by the Board of Trustees, who would normally appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. At the Trustees' meeting, the trustees agree the broad strategy and areas of activity for the trust, including consideration of risk management policies and performance.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1101383
Principal address
5 Grasmere Street Gateshead Tyne and Wear NE8 1TR
Page 1
GATESHEAD KOLLEL HORO'AH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 17TH AUGUST 2021
Trustees
A Weiniger M Schleider (resigned 1.4.2022) H Shalom (resigned 1.4.2022) J Mimran A Raffles
Independent Examiner
Joey Joseph FCA, MCMI Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
Bankers
Barclays Bank PLC Leicestershire LE87 2BB
DECLARATION OF PUBLIC BENEFIT
The trustees have considered the Charity Commission's general guidance on public benefit in deciding what activities the charity should undertake.
As stated in 'Objectives and Activities' section, the charity provides education and supports poverty and illness amongst members of the Jewish faith.
The trustees consider that the activities explained above, adequately satisfy the public benefit requirements.
Approved by order of the board of trustees on 4th July 2022 and signed on its behalf by:
J Mimran - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GATESHEAD KOLLEL HORO'AH
Independent examiner's report to the trustees of Gateshead Kollel Horo'ah
I report to the charity trustees on my examination of the accounts of Gateshead Kollel Horo'ah (the Trust) for the year ended 17th August 2021.
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
-
the accounts do not accord with those records; or
-
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.
Joey Joseph FCA, MCMI Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
4th July 2022
Page 3
GATESHEAD KOLLEL HORO'AH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 17TH AUGUST 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 98,432 | 35,239 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| General | 98,945 | 34,275 | |
| NET INCOME/(EXPENDITURE) | (513) | 964 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 2,703 | 1,739 | |
| TOTAL FUNDS CARRIED FORWARD | 2,190 | 2,703 |
The notes form part of these financial statements
Page 4
GATESHEAD KOLLEL HORO'AH
STATEMENT OF FINANCIAL POSITION 17TH AUGUST 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors: amounts falling due within one year | 5 | 100 | - |
| Cash at bank | 3,290 | 3,628 | |
| 3,390 | 3,628 | ||
| CREDITORS | |||
| Amounts falling due within one year | 6 | (1,200) | (925) |
| NET CURRENT ASSETS | 2,190 | 2,703 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 2,190 | 2,703 | |
| NET ASSETS | 2,190 | 2,703 | |
| FUNDS | 7 | ||
| Unrestricted funds | 2,190 | 2,703 | |
| TOTAL FUNDS | 2,190 | 2,703 |
The financial statements were approved by the Board of Trustees and authorised for issue on 4th July 2022 and were signed on its behalf by:
J Mimran - Trustee
The notes form part of these financial statements
Page 5
GATESHEAD KOLLEL HORO'AH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 17TH AUGUST 2021
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.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
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
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.
Depreciation is provided on the following basis:
Fixture and fittings- 50% on cost
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Taxation
The charity is exempt from tax on its charitable activities.
Page 6
continued...
GATESHEAD KOLLEL HORO'AH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 17TH AUGUST 2021
1. ACCOUNTING POLICIES - continued
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each material restricted fund is set out in the notes to the financial statements.
Debtors
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.
Financial instruments
The Company 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.
continued...
Page 7
GATESHEAD KOLLEL HORO'AH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 17TH AUGUST 2021
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 17th August 2021 nor for the year ended 17th August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 17th August 2021 nor for the year ended 17th August 2020.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
4.
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 35,239 |
| EXPENDITURE ON | |
| Charitable activities | |
| General | 34,275 |
| NET INCOME | 964 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 1,739 |
| TOTAL FUNDS CARRIED FORWARD | 2,703 |
| TANGIBLE FIXED ASSETS | |
| Fixtures | |
| and | |
| fittings | |
| £ | |
| COST | |
| At 18th August 2020 and 17th August 2021 | 406 |
| DEPRECIATION | |
| At 18th August 2020 and 17th August 2021 | 406 |
| NET BOOK VALUE | |
| At 17th August 2021 | - |
| At 17th August 2020 | - |
continued...
Page 8
GATESHEAD KOLLEL HORO'AH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 17TH AUGUST 2021
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Other debtors | 100 | - | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Accrued expenses | 1,200 | 925 | ||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| At | movement | At | ||
| 18.8.20 | in funds | 17.8.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 2,703 | (513) | 2,190 | |
| TOTAL FUNDS | 2,703 | (513) | 2,190 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 98,432 | (98,945) | (513) | |
| TOTAL FUNDS | 98,432 | (98,945) | (513) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| At | movement | At | ||
| 18.8.19 | in funds | 17.8.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 1,739 | 964 | 2,703 | |
| TOTAL FUNDS | 1,739 | 964 | 2,703 |
continued...
Page 9
GATESHEAD KOLLEL HORO'AH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 17TH AUGUST 2021
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 35,239 | (34,275) | 964 |
| TOTAL FUNDS | 35,239 | (34,275) | 964 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| At | movement | At | |
| 18.8.19 | in funds | 17.8.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,739 | 451 | 2,190 |
| TOTAL FUNDS | 1,739 | 451 | 2,190 |
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 | 133,671 | (133,220) | 451 |
| TOTAL FUNDS | 133,671 | (133,220) | 451 |
continued...
Page 10
GATESHEAD KOLLEL HORO'AH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 17TH AUGUST 2021
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 17th August 2021.
Page 11
GATESHEAD KOLLEL HORO'AH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 17TH AUGUST 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 98,432 | 35,239 |
| Total incoming resources | 98,432 | 35,239 |
| EXPENDITURE | ||
| Charitable activities | ||
| Printing, postage, stationery and office supplies | 25 | 71 |
| Books | - | 68 |
| Sundry expenses | 307 | - |
| Fund raising costs | 2,376 | 173 |
| Donations and student grants | 95,459 | 33,631 |
| 98,167 | 33,943 | |
| Support costs | ||
| Finance | ||
| Bank charges | 178 | 7 |
| Governance costs | ||
| Accountancy fees | 600 | 325 |
| Total resources expended | 98,945 | 34,275 |
| Net (expenditure)/income | (513) | 964 |
This page does not form part of the statutory financial statements
Page 12