Friends of Shekel Hakodesh
Report and Financial Statements
For The Year Ended 31 March 2021 Charity Number 1101566
Friends of Shekel Hakodesh
| Contents | |
|---|---|
| Page | |
| Legal and Administrative Information | 1 |
| Report of The Trustees | 2 and 3 |
| Statement Of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes forming part of the financial statements | 6 to 8 |
| Accountants Report | 9 |
Friends of Shekel Hakodesh
Trustees
Mr. Aron Kaff Mr. Sije Direnfeld Mr. Yechiel Mechel Ciment
Administration Address
Mr. Yechiel Mechel Ciment 9 Fairholt Road London N16 5EW
Charity Number 1101566 Company Number 04700358
Accountants
C Rosen
Page 1
Friends of Shekel Hakodesh Report of the Trustees
The Trustees present their annual report with accounts of the Charity for the Year Ended 31 March 2021.
Status and Administration
Friends of Shekel Hakodesh is constituted by trust deed, dated 6th August 2001 and is a Registered Charity.
Trustees
The Trustees in office throughout the year were: Mr. Aron Kaff Mr. Sije Direnfeld Mr. Yechiel Mechel Ciment
No trustee has any beneficial interest in the Charity and all gave their time voluntarily.
Page 2
Friends of Shekel Hakodesh
Report of the Trustees
Risk Assessment
The Charity has identified and assessed the major risks to which it is exposed, in particular those of safety and protection of the vulnerable young adults whilst in the Charity's care as well as the finances of the Charity. The Charity is satisfied that systems are in place and routinely assessed including procedures for Child Protection, Health and Safety, Vulnerable Adults Policy and Financial Management and Controls.
Responsibilities of the Trustees
Charity Law 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 as at the Balance Sheet, date, and of its incoming resources, including income and expenditure for the financial year.
In preparing those financial statements, the Trustees should follow best practice and:
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a) Select suitable accounting policies and the apply them consistently.
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b) Make judgements and estimates that are reasonable and prudent.
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c) Follow applicable accounting standards and the Charities SORP October 2015, disclosing and explaining any departures in the financial statements.
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d) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Trustees to ensure that the financial statements comply with the Charity Law.
The Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.
Board Of Trustees
The members of the Board Of Trustees are set out on Page 1. Approved by The Trustees of on 21 December 2021 and signed on behalf of them all.
Trustee Mr. Yechiel Mechel Ciment
Page 3
Friends of Shekel Hakodesh
Statement Of Financial Activities
For The Year Ended 31 March 2021
| Notes | Unrestricted | Restricted | Restricted | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Total | Total | |||||
| Funds | Funds | Funds | Funds | |||
| £ | £ | £ | £ | |||
| INCOMING RESOURCES | ||||||
| Activities to further the Charity's Objects | 2 | 666,747 | 0 | 666,747 | 567,374 | |
| Interest Income | 15 | 0 | 15 | 0 | ||
| Total Incoming Resources | 666,762 | 0 | 666,762 | 567,374 | ||
| Total Incoming Resources | 666,762 | 0 | 666,762 | 567,374 | ||
| RESOURCES EXPENDED | ||||||
| Cost of Generating Funds | 0 | 0 | 0 | 0 | ||
| Net Incoming Resources Available | ||||||
| For Charitable Application | 666,762 | 0 | 666,762 | 567,374 | ||
| Cost of Activities In Furtherance | 3 | |||||
| of the Charity's Objects | 522,914 | 0 | 522,914 | 547,103 | ||
| Governance Costs | 5 | 27,262 | 0 | 27,262 | 46,696 | |
| Total Charitable Expenditure | 550,176 | 0 | 550,176 | 593,799 | ||
| Total Resources Expended | 3 | 550,176 | 0 | 550,176 | 593,799 | |
| Net Movement In Funds | 116,586 | 0 | 116,586 | (26,425) | ||
| Transfer To / (From) Reserves | 0 | 0 | 0 | 0 | ||
| Net Reserves for the Year | 116,586 | 0 | 116,586 | (26,425) | ||
| Total Funds Brought Forward |
392,426 | 0 | 392,426 | 418,851 | ||
| Total Funds Carried Forward |
13 | £ 509,012 | £ | 0 | £ 509,012 | £ 392,426 |
Page 4
Friends of Shekel Hakodesh
Balance Sheet at 31 March 2021
| Notes Fixed Assets Tangible Assets 7 Current Assets Debtors 9 Cash at Bank and in Hand Creditors :Amounts falling due within one year 10 Net Current Assets Total Assets less Current Liabilities Creditors :Amounts falling due after more than one year 11 Net Assets 12 Restricted Funds 13 Unrestricted Funds 13 Total Funds |
2021 £ 299,155 299,155 187,077 73,080 260,157 (300) 259,857 559,012 (50,000) £ 509,012 0 509,012 £ 509,012 |
£ | 2020 £ 299,155 |
2020 £ 299,155 |
|---|---|---|---|---|
| 299,155 4,307 102,898 |
||||
| 107,205 (13,934) |
||||
| 93,271 392,426 |
93,271 | |||
| 0 392,426 |
||||
| £ | £ | 0 392,426 |
||
| 392,426 |
Approved by the Trustees on 21 December 2021, and signed on behalf of them all.
Mr. Yechiel Mechel Ciment Trustee
The notes on pages 6 to 8 form part of these accounts.
Page 5
Friends of Shekel Hakodesh
Notes To The Accounts - 31 March 2021
1) Principal Accounting Policies
Basis of Accounting
The Accounts have been prepared under the historical cost convention in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006, Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (effective from April 2015), and the Companies Act 2006.
Cash Flow
The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.
Donations and Fund Accounting
Donations received for the general and main purposes of the Charity is included as unrestricted funds in the Statement of Financial Activities when receivable.
Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.
Resources Expended
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The irrecoverable element of VAT is included with the item of expense to which it relates.
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| **2) ** | Incoming Funds | ||||
| Donations Received | 638,458 | 638,458 | 549,705 | ||
| Other Income | 5,000 | 5,000 | 5,634 | ||
| Rental Income | 23,289 | 23,289 | 12,035 | ||
| Total Income Generated | £ 666,747 | £ 0 | £ 666,747 | £ 567,374 |
Page 6
Friends of Shekel Hakodesh
| Friends of Shekel Hakodesh | |||
|---|---|---|---|
| Notes To The Accounts - Unrestricted Restricted 3) Analysis of Total Resources Expended Funds Funds Charitable Activities Cost of Activities In Furtherance of the Charity's Objects Donations and Grants 522,914 0 Books and Grants 0 0 Total 522,914 0 Total Cost of Activities In Furtherance of the Charity's Objects £ 522,914 £ 0 4) Cost of Generating Funds 5) Governance Costs Accountancy Advertising Bank Charges Books and Publications Council Tax Insurance Interest and Finance Charge Legal Light and Heat Marketing Printing, Postage and Stationery Professional Fees and Consultancy Rent Repairs Salaries Software Expense Travel Charitable Activities 31 March 2021 |
Total 2021 £ 522,914 0 522,914 £ 522,914 £ 0 300 0 189 0 1,721 1,074 2,500 29 1,023 84 4,066 5,380 648 6,110 0 0 4,138 £ 27,262 |
Total 2020 £ 547,103 0 547,103 £ 547,103 |
|
| £ 0 300 4,697 38 0 3,591 2,248 0 0 1,295 0 2,823 13,224 0 8,887 0 500 9,093 £ 46,696 |
6) Taxation
The Charity is exempt from taxation on its charitable activities.
7) Tangible Fixed Assets
| Cost or valuation At Additions Disposals At Depreciation At Charge for the year At Valuation 31 March 2020 31 March 2020 31 March 2021 31 March 2020 31 March 2021 31 March 2021 |
Land Motor Office Total and Car Equipment Equipment Building £ £ £ £ 299,155 0 0 299,155 0 0 0 0 0 0 0 0 0 0 299,155 0 0 299,155 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 £299,155 £ 0 £ 0 £299,155 £ 0 £299,155 £ 0 £ 0 £299,155 £ 0 |
|---|---|
The Fixed Assets were Purchased with the use of Restricted Funds.
- 8) The average number of Employees during the year, on a full time equivalent basis was
| 2021 | 2020 |
|---|---|
| 2 | 2 |
No Employee was paid above £60,000 per year.
Page 7
Friends of Shekel Hakodesh Notes To The Accounts - 31 March 2021
| 9) Debtors | 2021 | 2020 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | ||||||||||||||||
| Trade Debtors | 1,960 | 4,307 | |||||||||||||||
| Other Debtors | 185,117 | 0 | |||||||||||||||
| £ 187,077 | £ 4,307 | ||||||||||||||||
| 10) Creditors: Amounts | falling due within | one year | |||||||||||||||
| 2021 | 2020 | ||||||||||||||||
| £ | £ | ||||||||||||||||
| Other Creditors | 0 | 13,334 | |||||||||||||||
| Accruals | 300 | 600 | |||||||||||||||
| £ | 300 | £ 13,934 | |||||||||||||||
| 11) Creditors: Amounts | falling due after | more than | one | year | |||||||||||||
| 2021 | 2020 | ||||||||||||||||
| £ | £ | ||||||||||||||||
| Bank Loans and Overdrafts | 50,000 | 0 | |||||||||||||||
| Debt due after more | than one year | £ | 50,000 | £ | 0 | ||||||||||||
| 12) Net Assets of The Charity's Funds | |||||||||||||||||
| Net | |||||||||||||||||
| Fixed | Current | Long Term | Fund | ||||||||||||||
| Assets | Assets | Liabilities | Balances | ||||||||||||||
| £ | £ | £ | £ | ||||||||||||||
| Restricted Funds | 299,155 | 0 | 0 | 299,155 | |||||||||||||
| Unrestricted Funds | 0 | 209,857 | (50,000) | 159,857 | |||||||||||||
| Total Funds | £ 299,155 | £ | 209,857 | £(50,000) | £ 459,012 | ||||||||||||
| 13) Restricted Funds | : Movements In | The Year | |||||||||||||||
| Balance | at | Transfer To | Balance at | ||||||||||||||
| 31 March 2020 | Income | Expended | /(From) | 31 March | 2021 | ||||||||||||
| £ | £ | £ | Reserves | £ | |||||||||||||
| 0 | 0 | 0 | 0 | 0 | |||||||||||||
| Total Funds | £ | 0 | £ | 0 | £ | 0 | £ | 0 | £ 0 | ||||||||
| 13) Unrestricted Funds | : Movements In | The Year | |||||||||||||||
| Balance | at | Transfer To | Balance at | ||||||||||||||
| 31 March 2020 | Income | Expended | /(From) | 31 March | 2021 | ||||||||||||
| £ | £ | £ | Reserves | £ | |||||||||||||
| General Reserve | 392,426 | 666,762 | 550,176 | 0 | 509,012 | ||||||||||||
| Total Funds £ |
392,426 | £ 666,762 | £ 550,176 | £ | 0 | £ 509,012 |
14) Related Party Transactions
No trustee nor any person connected with them received any remuneration, or claimed any expense, during the year, from this or any related Charity.
There were no Related Party Transactions in the Year.
Page 8
Accountants Report to the Trustees on the Unaudited Accounts of the Charity Friends of Shekel Hakodesh For the Year Ended 31 March 2021
We report on the financial statements of Friends of Shekel Hakodesh for the Year Ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. These financial statements have been prepared, under the historical cost convention, and in accordance with the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (Issued 2015), and the Financial Reporting Standard for Smaller Entities 102 (effective 2016), and the accounting policies set out therein.
Respective Responsibilities Of Trustees and Reporting Accountants
As described on page 3, the trustees of the charity are responsible for the preparation of the accounts, and they consider that the audit requirement of section 145 of the Charities Act 2011 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 249 of the Act, whether particular matters have come to our attention.
Basis of Accountant's Report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. These procedures provide only the assurance expressed in our opinion.
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Opinion
In our opinion, no matter has come to our attention,
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1) which gives us reasonable cause to believe that, in any material respect, the requirements
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a) to keep accounting records in accordance with section 130 of the Act; and
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b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date 21 December 2021
Reporting Accountant
C Rosen
Page 9