Charity number: 1108649
TIKVA
Unaudited
Trustees' report and financial statements
For the Year Ended 31 December 2022
TIKVA
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 18 |
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Reference and administrative details of the Charity, its Trustees and advisers For the Year Ended 31 December 2022
| Trustees | Mrs Sarah Hanstater, Chair |
|---|---|
| Mrs Toby Perelman, Treasurer | |
| Mrs Melanie Danan, Secretary | |
| Mrs Rachel Josebashvili, Trustee | |
| Mrs Katleen Tesler, Trustee | |
| Charity registered number 1108649 Principal office 39b Linthorpe Road London N16 5QT Independent Examiner Accshire Accountancy LLP Rear Entrance 123 Clapton Common London E5 9AB Bankers Natwest 196 Stoke Newington High St London N16 7GA HSBC 150 Stoke Newington High St London N16 7JP |
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Trustees' report For the Year Ended 31 December 2022
The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2022 to 31 December 2022.
Objectives and activities
a. Policies and objectives
The charity's aims are to provide social, leisure and developmental benefits to young people and adults with learning disabilities and support and respite for their families.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The Charity provides high quality activities for the parent-carers as well as activities for their adult children with disabilities during school holidays and weekends throughout the year. Projects run during 2020 are described below. Tikva is an ongoing lifeline to both the ageing parent-carers and to their adult children with disabilities.
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Trustees' report (continued) For the Year Ended 31 December 2022
Achievements and performance
a. Main achievements of the Charity during the year
This year continued to be challenging for both groups of Tikva’s users. Although COVID 19 restrictions ceased towards the beginning of the year, our users continued to be affected by long term negative fallout as a result of the difficulties they had been through including illness, curtailing and adapting activities and the serious lack of normal social contact for such an extended period of time. Tikva had done its best to provide as broad a menu of activities as possible within government guidelines; but had to combat the ongoing extraordinary stress and pressures. Tikva continued to rise to the challenge and provided as many face to face activities to reach out and support both user groups within the limits of government guidelines, and after their cessation, we did our best to support both groups of users with thoughtfulness and care.
During the year, the activities, performance and achievements of the Charity were as follows -
Activities for parent carers of adult children with disabilities:
• Fortnightly counselling / support group, facilitated by an experienced accredited counsellor. When necessary, the support groups continued to be held remotely.
• Stress management workshops / Listening Ear. The parent carers had the option to speak by phone to a professional counsellor on a one to one basis if they so desired.
• Art therapy has continued over the year. The feedback continues to be very positive and enthusiastic.
• Social events and trips (aimed at relieving the pressures and combating the social isolation that comes with caring for their adult children with disabilities) took place when government regulation allowed
• 'Tikva Newsletter' produced twice a year, a valuable source of information and interaction between users.
• Aquarobics had to be held in abeyance until swimming pools reopened. Both that activity and aerobic classes were resumed face to face as soon as possible.
• The very popular cycling classes where parent carers learn this skill at their own pace, have now resumed. They are as popular as ever
Activities for adults with disabilities:
• The much anticipated and very successful yearly respite away from home took place in Wales.
• The Weekly Weekend clubs resumed as soon as government guidelines allowed. When it was not possible to run these as a group, the support workers took out the disabled adults individually for fresh air and exercise, thus providing them with a desperately needed change of scenery. At the same time, their families benefitted from urgently required respite and a welcome breather! Once they resumed, users were as excited to meet their friends a\s ever, and friendships were renewed.
• Day trips during school holidays took place when permitted in line with the government guidelines prevailing at that time, and resumed normally as soon as they were allowed.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.
b. Reserves policy
The trustees aim to build up free reserves to a level of at least 3 months running costs. This is to act as a cushion to protect services in the event of a time limited grant ending before having secured funding from a new source.
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Trustees' report (continued) For the Year Ended 31 December 2022
c. Financial Review
As a result of Covid and a much more challenging fundraising climate, there was a reduction in funds raised. However, the Trustees made the decision to keep activities at their optimum by dipping into the reserves of the charity, rather than reducing activities at this difficult and challenging time. The Trustees were nevertheless gratified that the charity succeeded in raising £109,136 for charitable purposes during the year, still abiding by our reserves policy of having at least 3 months operating costs in hand. A significant part of the Charity's income is from grants from Trusts and Foundations. The trustees would like to thank all grant makers and generous donors who enabled Tikva’s important work with an excluded and greatly disadvantaged group to take place, including The London Borough of Hackney, Interlink Foundation, Dollond, People’s Health Trust and The 29th May 1961 Charity.
To all of our donors, both private individuals and charitable trusts, thank you for your financial contribution and for your encouragement which gives us the impetus to continue with our vital work.
Structure, governance and management
a. Constitution
Tikva is a registered charity, number 1108649, and is constituted under a Constitution.
b. Methods of appointment or election of Trustees
The constitution requires that the number of trustees shall not be less than three or more than nine. The power to appoint new trustees is vested in the existing trustees. New trustees are recruited on the basis of their competence, specialist skills, and those who are able to promote the objectives of the Charity. New trustees are appointed by a resolution of the Trustees, which is recorded in the minutes and signed by one trustee. New trustees are inducted into the workings of the Charity by the current Trustees.
c. Organisational structure
The Trustees are responsible for governance of the organisation, and the Chair and Treasurer are active in all operational aspects of strategic management. Day to day management of activities and projects are the responsibility of the Project Coordinator with the support of the Trustees.
Plans for future periods
The needs of our client group are steadily increasing. As the adults with disabilities are growing older, their care is becoming more challenging, both physically and emotionally. At the same time, the ageing and struggling parent-carers are facing their own escalating health issues, many of which are the result of a lifetime of daily unremitting and grueling physical and emotional exertion. Tikva has also seen its client group expand to include new users. In addition, we are now providing services to younger clients who have now reached adulthood and require our support, and this age group promises to continue to grow.
Tikva plans to maintain and consolidate its vital supporting role by continuing to provide the above services and to expand its activities to be appropriate for the different age groups of the users, and to include all those who need them. Tikva has built strong relationships with its statutory and other funders, and is constantly looking for new funding opportunities to enable the organisation to grow and flourish.
Tikva has seen the number of its users increase significantly during the year and anticipates that this upward trend will continue. It plans to continue to explore new avenues of growth, both with users and with a greater variety of activities, despite the increasingly challenging fundraising climate.
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Trustees' report (continued) For the Year Ended 31 December 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 5 June 2023 and signed on their behalf by:
Mrs Toby Perelman (Chair of Trustees)
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Independent examiner's report For the Year Ended 31 December 2022
Independent examiner's report to the Trustees of Tikva ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 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 2011 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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Independent examiner's report (continued) For the Year Ended 31 December 2022
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 5 June 2023 F Lazega FCCA Accshire Accountancy LLP Rear Entrance 123 Clapton Common London E5 9AB
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Statement of financial activities For the Year Ended 31 December 2022
| Note Income from: Donations and legacies 2 Charitable activities 3 Total income Expenditure on: Raising funds 4 Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 51,106 - 51,106 - 56,031 56,031 (4,925) 26,220 (4,925) 21,295 |
Unrestricted funds 2022 £ 35,458 22,572 58,030 3,306 69,356 72,662 (14,632) 30,099 (14,632) 15,467 |
Total funds 2022 £ 86,564 22,572 109,136 3,306 125,387 128,693 (19,557) 56,319 (19,557) 36,762 |
Total funds 2021 £ 90,681 27,989 118,670 3,858 122,989 126,847 (8,177) 64,496 (8,177) 56,319 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
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Balance sheet As at 31 December 2022
| Note Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
83 39,681 39,764 (9,752) |
2022 £ 6,750 6,750 30,012 36,762 36,762 21,295 15,467 36,762 |
83 51,871 51,954 (4,635) |
2021 £ 9,000 |
|---|---|---|---|---|
| 9,000 47,319 |
||||
| 56,319 | ||||
| 56,319 | ||||
| 26,220 30,099 |
||||
| 56,319 |
The financial statements were approved and authorised for issue by the Trustees on 05 June 2023 and signed on their behalf by:
Mrs Toby Perelman (Chair of Trustees)
The notes on pages 10 to 18 form part of these financial statements.
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Notes to the financial statements For the Year Ended 31 December 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Tikva meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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Notes to the financial statements For the Year Ended 31 December 2022
1. Accounting policies (continued)
1.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Motor vehicles - 25%
1.5 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.
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 restricted fund is set out in the notes to the financial statements.
2. Income from donations and legacies
| Grants Interlink Foundation Dollond L B Hackney People's Health Trust The 29th May 1961 Charity Subtotal grants |
Restricted funds 2022 £ 6,880 7,500 15,478 11,188 - 41,046 |
Unrestricted funds 2022 £ - - - - 4,000 4,000 |
Total funds 2022 £ 6,880 7,500 15,478 11,188 4,000 |
|---|---|---|---|
| 45,046 |
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Notes to the financial statements For the Year Ended 31 December 2022
2. Income from donations and legacies (continued)
| Donations Other grants Subtotal Grants Interlink Foundation Awards for All L B Hackney People's Health Trust Rix Thompson Rothe Subtotal detailed disclosure Donations Grants Subtotal |
Restricted funds 2022 £ - 10,060 10,060 51,106 Restricted funds 2021 £ 6,880 9,880 33,797 6,707 6,620 63,884 - 8,807 8,807 72,691 |
Unrestricted funds 2022 £ 30,258 1,200 31,458 35,458 Unrestricted funds 2021 £ - - - - - - 12,510 5,480 17,990 17,990 |
Total funds 2022 £ 30,258 11,260 |
|---|---|---|---|
| 41,518 | |||
| 86,564 | |||
| Total funds 2021 £ 6,880 9,880 33,797 6,707 6,620 |
|||
| 63,884 | |||
| 12,510 14,287 |
|||
| 26,797 | |||
| 90,681 |
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Notes to the financial statements For the Year Ended 31 December 2022
3. Income from charitable activities
| User contributions User contributions Expenditure on raising funds Costs of raising voluntary income Costs of raising voluntary income Costs of raising voluntary income |
Unrestricted funds 2022 £ 22,572 Unrestricted funds 2021 £ 27,989 Unrestricted funds 2022 £ 3,306 Unrestricted funds 2021 £ 3,858 |
Total funds 2022 £ 22,572 |
|---|---|---|
| Total funds 2021 £ 27,989 |
||
| Total funds 2022 £ 3,306 |
||
| Total funds 2021 £ 3,858 |
4. Expenditure on raising funds
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Notes to the financial statements For the Year Ended 31 December 2022
5. Analysis of grants
| Grants to | Total | Total | |
|---|---|---|---|
| Institutions | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Grants | 25 | 25 | - |
6. Analysis of expenditure on charitable activities
Summary by fund type
| Charitable expenditure Charitable expenditure |
Restricted funds 2022 £ 56,031 Restricted funds 2021 £ 51,383 |
Unrestricted funds 2022 £ 69,356 Unrestricted funds 2021 £ 71,606 |
Total 2022 £ 125,387 |
|---|---|---|---|
| Total 2021 £ 122,989 |
7. Analysis of expenditure by activities
| Activities | Grant | |||
|---|---|---|---|---|
| undertaken | funding of | Support | Total | |
| directly | activities | costs | funds | |
| 2022 | 2022 | 2022 | 2022 | |
| £ | £ | £ | £ | |
| Charitable expenditure | 89,752 | 25 | 35,610 | 125,387 |
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Notes to the financial statements For the Year Ended 31 December 2022
7. Analysis of expenditure by activities (continued)
| Activities | |||
|---|---|---|---|
| undertaken | Support | Total | |
| directly | costs | funds | |
| 2021 | 2021 | 2021 | |
| £ | £ | £ | |
| Charitable expenditure | 82,479 | 40,510 | 122,989 |
Analysis of direct costs
| Day Trips Holidays Weekend Clubs Parents Carers Transport Gifts Staff Costs Day Trips Holidays Weekend Clubs Wellbeing Groups Gifts Staff Costs |
Activities 2022 £ 4,602 23,798 30,429 11,440 1,596 244 17,643 89,752 Activities 2021 £ 10,586 25,980 27,093 8,879 487 9,454 82,479 |
Total funds 2022 £ 4,602 23,798 30,429 11,440 1,596 244 17,643 |
|---|---|---|
| 89,752 | ||
| Total funds 2021 £ 10,586 25,980 27,093 8,879 487 9,454 |
||
| 82,479 |
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Notes to the financial statements For the Year Ended 31 December 2022
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Office Supplies Staff Costs Computer Expenses Rent Professional Fees Insurance Telephone Governance costs Depreciation Office Supplies Staff Costs Computer Expenses Rent Professional Fees Telephone Governance costs |
Activities 2022 £ 2,250 1,352 18,383 1,900 6,500 1,607 666 825 2,128 35,611 Activities 2021 £ 3,000 1,211 25,692 1,657 5,958 805 700 1,487 40,510 |
Total funds 2022 £ 2,250 1,352 18,383 1,900 6,500 1,607 666 825 2,128 |
|---|---|---|
| 35,611 | ||
| Total funds 2021 £ 3,000 1,211 25,692 1,657 5,958 805 700 1,487 |
||
| 40,510 |
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Notes to the financial statements For the Year Ended 31 December 2022
8. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 420 | 360 |
| Fees payable to the Charity's independent examiner in respect of: | ||
| All other services not included above | 720 | 540 |
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .
10. Tangible fixed assets
| Cost or valuation At 1 January 2022 At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 |
Motor vehicles £ 16,000 |
|---|---|
| 16,000 | |
| 7,000 2,250 |
|
| 9,250 | |
| 6,750 | |
| 9,000 |
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Notes to the financial statements For the Year Ended 31 December 2022
11. Debtors
| Due within one year Other debtors |
2022 £ 83 83 |
2021 £ 83 |
|---|---|---|
| 83 |
12. Creditors: Amounts falling due within one year
| Other taxation and social security Other creditors Accruals and deferred income |
2022 £ 758 7,254 1,740 9,752 |
2021 £ 730 3,005 900 |
|---|---|---|
| 4,635 |
13. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 January 2022 £ 30,099 26,220 56,319 |
Income £ 58,029 51,106 109,135 |
Expenditure £ (72,661) (56,031) (128,692) |
Balance at 31 December 2022 £ 15,467 21,295 |
|---|---|---|---|---|
| 36,762 |
14. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2022.
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