REGISTERED COMPANY NUMBER: 04398313 (England and Wales) REGISTERED CHARITY NUMBER: 1103927
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
FOR
BEIS AHARON OF OLESK
Versa Accountants Ltd Chartered Certified Accountants Unit 2 99-101 Kingsland Road London E2 8AG
BEIS AHARON OF OLESK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
BEIS AHARON OF OLESK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
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 31 March 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).
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04398313 (England and Wales)
Registered Charity number
1103927
Registered office
37 Oldhill Street London London N16 6LR
Trustees
Mr S Dankowitz Businessman Mrs R Eichenstein Secretary Mr A L Eichenstein Property Management
Company Secretary
Mrs R Eichenstein
Independent Examiner
Versa Accountants Ltd Chartered Certified Accountants Unit 2 99-101 Kingsland Road London E2 8AG
Approved by order of the board of trustees on 8 July 2021 and signed on its behalf by:
Mr A L Eichenstein - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEIS AHARON OF OLESK
Independent examiner's report to the trustees of Beis Aharon Of Olesk ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
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
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
-
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
-
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.
Albie Turner ACCA Versa Accountants Ltd Chartered Certified Accountants Unit 2 99-101 Kingsland Road London E2 8AG
8 July 2021
Page 2
BEIS AHARON OF OLESK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Donations Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 49,000 113,970 162,970 18,525 100,499 119,024 1,114,584 1,158,530 1,040,637 2,199,167 |
2020 Total funds £ 92,501 100,797 |
|---|---|---|
| 193,298 21,292 182,188 |
||
| 203,480 1,114,584 |
||
| 1,104,402 1,050,819 |
||
| 2,155,221 |
The notes form part of these financial statements
Page 3
BEIS AHARON OF OLESK
BALANCE SHEET 31 MARCH 2021
| Notes FIXED ASSETS Tangible assets 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 10 Unrestricted funds TOTAL FUNDS |
2021 Unrestricted fund £ 1,602,204 10,365 16,946 27,311 569,652 596,963 2,199,167 2,199,167 2,199,167 2,199,167 |
2020 Total funds £ 1,613,560 4,125 66,216 |
|---|---|---|
| 70,341 471,320 |
||
| 541,661 | ||
| 2,155,221 | ||
| 2,155,221 | ||
| 2,155,221 | ||
| 2,155,221 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.
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 8 July 2021 and were signed on its behalf by:
Mr A L Eichenstein - Trustee
The notes form part of these financial statements
Page 4
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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, as modified by the revaluation of certain assets.
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.
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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Page 5
continued...
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
2. INVESTMENT INCOME
| Rents received Interest receivable - trading 3. RAISING FUNDS Raising donations and legacies Support costs Investment management costs Property repairs Maintenance charges Aggregate amounts 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2021 £ 85,637 28,333 113,970 2021 £ 12,649 2021 £ 5,432 444 5,876 18,525 2021 £ 11,356 |
2020 £ 73,834 26,963 |
2020 £ 73,834 26,963 |
|---|---|---|---|
| 100,797 | |||
| 2020 £ - |
|||
| 2020 £ 6,505 829 7,334 21,292 |
|||
| 2020 £ 12,618 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Page 6
continued...
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Donations Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS COST At 1 April 2020 and 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 |
Freehold property £ 1,500,000 - - - 1,500,000 1,500,000 |
Fixtures and fittings £ 192,267 78,707 11,356 90,063 102,204 113,560 |
Unrestricted fund £ 92,501 100,797 |
|
|---|---|---|---|---|
| 193,298 21,292 182,188 |
||||
| 203,480 1,114,584 |
||||
| 1,104,402 1,050,819 |
||||
| 2,155,221 | ||||
| Totals £ 1,692,267 78,707 11,356 90,063 1,602,204 1,613,560 |
||||
continued...
Page 7
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accruals and deferred income 10. MOVEMENT IN FUNDS At 1.4.20 £ Unrestricted funds General fund 1,040,637 TOTAL FUNDS 1,040,637 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 162,970 (119,024) TOTAL FUNDS 162,970 (119,024) Comparatives for movement in funds At 1.4.19 £ Unrestricted funds General fund 1,050,819 TOTAL FUNDS 1,050,819 |
2021 £ 10,365 2021 £ - (570,552) 900 (569,652) Net movement in funds £ 1,158,530 1,158,530 Gains and losses £ 1,114,584 1,114,584 Net movement in funds £ 1,104,402 1,104,402 |
2020 £ 4,125 2020 £ (1) (472,219) 900 (471,320) At 31.3.21 £ 2,199,167 2,199,167 Movement in funds £ 1,158,530 1,158,530 At 31.3.20 £ 2,155,221 2,155,221 |
|---|---|---|
continued...
Page 8
BEIS AHARON OF OLESK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 193,298 193,298 |
Resources expended £ (203,480) (203,480) |
Gains and losses £ 1,114,584 1,114,584 |
Movement in funds £ 1,104,402 |
|---|---|---|---|---|
| 1,104,402 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.19 £ 1,050,819 1,050,819 |
Net movement in funds £ 2,262,932 2,262,932 |
At 31.3.21 £ 3,313,751 |
|---|---|---|---|
| 3,313,751 |
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 £ 356,268 356,268 |
Resources expended £ (322,504) (322,504) |
Gains and losses £ 2,229,168 2,229,168 |
Movement in funds £ 2,262,932 |
|---|---|---|---|---|
| 2,262,932 |
11. RELATED PARTY DISCLOSURES
There is a £ 138,894.50 balance due from Moundfield Heights, also there is a £ 142,253.93 balance due from Heathcroft Investments.
There is a £ 250,077.76 balance due from Kelrose Ltd and there is a £ 39,326.14 balance due from Manorwest Estates Ltd.
Page 9
BEIS AHARON OF OLESK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| INCOME AND ENDOWMENTS Donations and legacies Gifts Donations Investment income Rents received Interest receivable - trading Total incoming resources EXPENDITURE Investment management costs Property repairs Maintenance charges Charitable activities Donations to charitable Support costs Management Rates and water Sundries Accountancy Finance Bank charges Other Depreciation of tangible fixed assets Other 2 Insurance Total resources expended Net income/(expenditure) |
2021 £ - 49,000 49,000 85,637 28,333 113,970 162,970 5,432 444 5,876 100,499 163 36 900 1,099 - 11,356 194 119,024 43,946 |
2020 £ 1 92,500 92,501 73,834 26,963 100,797 193,298 6,505 829 7,334 182,188 32 35 900 967 14 12,618 359 203,480 (10,182) |
|---|---|---|
This page does not form part of the statutory financial statements
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