NLPS Trust for Progressive Judaism (Registered charity, number 1104610) Financial statements for the year ended 5 April 2022
| Page | Contents |
|---|---|
| 2 - 3 | Trustees’ annual report |
| 4 | Independent examiner’s report |
| 5 | Receipts & payments account |
| 6 | Statement of assets & liabilities |
| 7 | Notes to the accounts |
NLPS Trust for Progressive Judaism Trustees’ annual report for the year ended 5 April 2022
Full name NLPS Trust for Progressive Judaism
Other names by which the charity is known NLPS Trust
Registered charity number 1104610
Principal address 110 Linkside Avenue, Oxford, OX2 8JB
Trustees
Michael Hart, Chair Paul Kanas, until 15/04/2021 Karen Katz Michael Leci Nicholas Shire-Feldman, Treasurer Nicola Solomons Philip Stone, until 23/03/2022 Michael Woodcock Philip Zeligman, from 15/04/2021
Independent examiner
John O’Brien, employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL
Governance and management
The charity is operated under the rules of its original trust deed dated 30 April 2004 and most recently amended with a third Supplemental Trust Deed dated 11 May 2018.
Adverts for trustee recruitment are placed on the Trust website and in Liberal Judaism publications. Existing trustees also promote the recruitment by word of mouth.
After a preliminary meeting with other trustees, candidates attend a board meeting as a participating observer. Subject to agreement on both sides, they are then appointed.
Objectives and activities
The advancement of Progressive Judaism.
Public benefit statement
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.
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NLPS Trust for Progressive Judaism
Summary of the main activities undertaken for the public benefit
The activities benefit a public class of people. They do so by providing financial support to synagogues and organisations which are involved in advancing Progressive Judaism, helping towards the cost of facilities, educational courses, training and outreach activities.
Summary of the main achievements during the period
Three meetings were held during the accounting year, rather than the normal two, because of calendar issues, and 20 grant applications were approved for a total amount of £146,000. This included £35,000 payable more than one year ahead.
The grants included opportunities for youth and lay leadership, support for the rabbinate and technology upgrades.
Financial review
Income from investments amounted to £58,000, a result considered satisfactory in the prevailing environment. It is likely to be less in the coming year. The overall value of the investment portfolio has moved broadly in line with the market but we are satisfied that the underlying assets are appropriate for our objectives. We accept that there will be volatility in the current environment but take the long view.
The charity’s policy on reserves
The Trust has no employees and no premises. Its investments are its reserves. The Trust distributes all of its income, making extremely conservative estimates of future income in respect of future commitments. The trustees' current policy is to leave the capital intact, but to use up to 2% each year in exceptional circumstances. This year was not exceptional in that respect.
Financial risks
The main financial risks faced by the Trust are a sustained reduction in investment income and in the value of investments. The Trust will always be able to meet its commitments, because they are time-limited.
The Trust's policy is to maintain the real value of the Trust’s capital and the fund is managed accordingly by professional advisers.
Signed on behalf of the charity’s trustees:
Signed ______ Date _ Michael Hart, Trustee
21/10/22
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Independent examiner’s report to the trustees of NLPS Trust for Progressive Judaism for the year ended 5 April 2022
I report to the trustees on my examination of the accounts of NLPS Trust for Progressive Judaism (the charity) for the year ended 5 April 2022.
Responsibilities and basis of report
As the trustees of the charity 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 charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 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 charity as required by section 130 of the Act; or
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the accounts do not accord with those records.
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.
Signed ____ Date _______ 21/10/22 John O’Brien MSc, FCCA, FCIE Employee of Community Accounting Plus
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NLPS Trust for Progressive Judaism Receipts & payments account for the year ended 5 April 2022
| 2021 £ Note Receipts 54782 Income from investments 2 54782 Total receipts Payments 738 Accountancy fees 1226 Administration 64 Bank charges 24046 Grants paid 303 Insurance 115 Legal & professional 26492 Total payments 28290 Net receipts/(payments) 50806 Cash funds at start of this period 79096 Cash funds at end of this period |
2022 £ 57735 |
|---|---|
| 57735 | |
| 738 365 146 63100 313 - |
|
| 64662 | |
| (6927) 79096 |
|
| 72169 |
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NLPS Trust for Progressive Judaism Statement of assets and liabilities at 5 April 2022
| 2021 £ Cash assets Note 79096 Bank accounts 79096 Other monetary assets 11652 Debtors & prepayments 3 2061406 Investments 2 2073058 Liabilities (738) Creditors - Accountancy fees (738) |
2022 £ 72169 |
|---|---|
| 72169 | |
| 8230 2101786 |
|
| 2110016 | |
| (756) | |
| (756) |
These financial statements are accepted on behalf of the charity by:
Signed _____ Dated _____ 21/10/22 Nicholas Shire-Feldman, Trustee
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NLPS Trust for Progressive Judaism Notes to the accounts for the year ended 5 April 2022
1. Receipts & payments accounts
Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand.
2. Investments
The Trust holds investments managed by Investec Wealth & Investment Limited.
The market value of the investments at 5 April 2022 was £2,101,786.
3. Debtors
£ Unit Trust distributions receivable 7981 Insurance (prepayment) 249 8230
4. Trustees’ remuneration
Trustees received no expenses, remuneration or benefits in this period.
5. Related party transactions
There were no related party transactions in this period.
6. Glossary of terms
Creditors: These are amounts owed by the charity, but not paid during the accounting period.
Debtors: These are amounts owed to the charity, but not received in the accounting period.
Prepayments: These are services that the charity has paid for in advance, but not used during the accounting period.
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