## **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: - a) Select suitable accounting policies and the apply them consistently. - b) Make judgements and estimates that are reasonable and prudent. - c) Follow applicable accounting standards and the Charities SORP October 2015, disclosing and explaining any departures in the financial statements. - 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, - 1) which gives us reasonable cause to believe that, in any material respect, the requirements - a) to keep accounting records in accordance with section 130 of the Act; and - 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 - 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