COMPANY REGISTRATION NUMBER: 5402076 CHARITY REGISTRATION NUMBER: 1109132
The Reisner Charitable Foundation Ltd Company Limited by Guarantee Unaudited Financial Statements
31 March 2024
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 10 |
The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the Year ended 31 March 2024.
Reference and administrative details
Registered charity name The Reisner Charitable Foundation Ltd Charity registration number 1109132 Company registration number 5402076 Principal office and registered 1 Allanadale Court office Waterpark Road Salford M7 4JN The trustees D Neuwirth B Hassan R T Halpern Company secretary Mrs G M Weis Independent examiner Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Structure, governance and management
The Reisner Charitable Foundation Ltd is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 23 March 2005 as a company and the company number is 5402076. It was registered as a charity on 19 April 2005 with a charity number 1109132.
Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day to day affairs are undertaken by Mr B Stone on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
There are no policies for the induction or training of new trustees.
Risk review
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to manage our exposure to the major risks.
The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.
Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Objectives and activities
The objects of the charity are the relief of poverty amongst the elderly or persons in need, hardship or distress in the Jewish Community; the advancement of the Orthodox Jewish Religion and the advancement of education according to the tenets of the Orthodox Jewish Faith.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
Grant making policy
The charity is funded by donations and investment income. The charity gives out grants in line with the above objects.
There were no grants paid to individuals made during the year.
Grants made during the year to institutions are as detailed in the accounts.
The application of the funds by way of grants to either institutions or individuals and is almost always to institutions.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.
The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
Achievements and performance
The charity received £103,370 by way of donations and had investment income receivable amounting to £34,539 during the year. The charity paid out £514,202 by way of grants, £2,837 by way of support costs and £17,907 by way of management costs. These grants were made in line with the stated objects of the charity and were mainly educational in nature.
The charity has low governance costs comprising professional fees. All other office costs are borne by a local benefactor and the trustees wish to record their appreciation to the benefactor for the free use of their offices.
Grants made during the year to institutions are as detailed in the accounts.
There were no material fundraising costs during the year.
Related party transactions in the reporting period are disclosed in the notes to the accounts.
There was an overall net expenditure and net movement for the year amounting to £85,907.
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Financial review
Investment performance
During the year the wholly owned investment was sold, making a gain of £311,130. The investments of the charity have provided a 10.1% gross return in the year.
The trustees consider this acceptable when compared with returns available on deposits in any of the banking institutions. These investment returns have been consistent for a number of years and are not at the expense of any exposure of loan to value covenants that would put these investments at risk.
Reserves policy
The unrestricted fund represents the unrestricted funds arising from past operating results.
The Trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable and will aim in future to have more reserves in hand for any eventuality.
The trustees are delighted to have made many valuable contributions to the community as a result of this income and hope to be able to do so for many years to come.
The free reserves, represented by the net current assets of the charity stand at £133,386 all of which are unrestricted.
The trustees' annual report was approved on 23 December 2024 and signed on behalf of the board of trustees by:
D Neuwirth Trustee
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Reisner Charitable Foundation Ltd
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of The Reisner Charitable Foundation Ltd ('the charity') for the Year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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 financial statements 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).
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Reisner Charitable Foundation Ltd (continued)
Year ended 31 March 2024
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.
Mr Howard Schwalbe ACA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
23 December 2024
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 103,370 | 103,370 | 122,575 |
| Investment income | 6 | 34,539 | 34,539 | 83,773 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 137,909 | 137,909 | 206,348 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | 17,907 | 17,907 | – |
| Expenditure on charitable activities | 8,9 | 517,039 | 517,039 | 213,338 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 534,946 | 534,946 | 213,338 | |
| ================================ | ================================ | ================================ | ||
| Net gains on investments | 12 | 311,130 | 311,130 | – |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net expenditure and net movement in funds | (85,907) | (85,907) | (6,990) | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 559,071 | 559,071 | 566,061 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 473,164 ================================ |
473,164 ================================ |
559,071 ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 18 form part of these financial statements.
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 17 | – | 100 | |
| Investments | 18 | 339,778 | 752,088 | |
| -------------------------------- | -------------------------------- | |||
| 339,778 | 752,188 | |||
| Current assets | ||||
| Debtors | 19 | 45,020 | 55,431 | |
| Cash at bank and in hand | 328,130 | 7,348 | ||
| -------------------------------- | ---------------------------- | |||
| 373,150 | 62,779 | |||
| Creditors: amounts falling due within one year | 20 | 239,764 | 255,896 | |
| -------------------------------- | -------------------------------- | |||
| Net current assets | 133,386 | (193,117) | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 473,164 | 559,071 | ||
| -------------------------------- | -------------------------------- | |||
| Net assets | 473,164 | 559,071 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Unrestricted funds | 473,164 | 559,071 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 21 | 473,164 ================================ |
559,071 ================================ |
For the Year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the Year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 10 to 18 form part of these financial statements.
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of trustees and authorised for issue on 23 December 2024, and are signed on behalf of the board by:
D Neuwirth Trustee
The notes on pages 10 to 18 form part of these financial statements.
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 1 Allanadale Court, Waterpark Road, Salford, M7 4JN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fair value
Debtors and creditors are stated at fair value.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported besides the fair value of the investment property.
Fund accounting
Unrestricted funds held by the charity are funds that can be used in accordance with the charitable objects at the discretion of the trustees.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources (continued)
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 25% straight line
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Investments (continued)
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investment property
Fixed asset investment
Fixed asset investments, including investment property, are included at market value, where appropriate, at the balance sheet date. Any gain or loss on revaluation is taken to the SOFA. No depreciation is provided on these investments in accordance with FRSSE.
This represents a departure from the general requirement of the Companies Act for all tangible assets to be depreciated. In the opinion of the trustees compliance with the standard is necessary for the financial statements to give a true and fair view.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The Reisner Charitable Foundation Ltd is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 103,370 | 103,370 | 122,575 | 122,575 | |
| ================================ | ================================ | ================================ | ================================ | ||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Income from investment properties | 34,390 | 34,390 | 83,773 | 83,773 | |
| Bank interest receivable | 149 | 149 | – | – | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 34,539 | 34,539 | 83,773 | 83,773 | ||
| ============================ | ============================ | ============================ | ============================ |
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
7. Investment management costs
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Repairs | 257 | 257 | – | – |
| Insurance | 12,261 | 12,261 | – | – |
| Rates | 5,389 | 5,389 | – | – |
| ---------------------------- | ---------------------------- | -------------- | -------------- | |
| 17,907 | 17,907 | – | – | |
| ============================ | ============================ | ============== | ============== | |
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable grants | 514,202 | 514,202 | 210,875 | 210,875 |
| Support costs | 2,837 | 2,837 | 2,463 | 2,463 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 517,039 | 517,039 | 213,338 | 213,338 | |
| ================================ | ================================ | ================================ | ================================ | |
| Expenditure on charitable activities by activity type | ||||
| Grant funding | Support | Total funds | Total fund | |
| of activities | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Charitable grants | 514,202 | 797 | 514,999 | 211,298 |
| Governance costs | – | 2,040 | 2,040 | 2,040 |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | |
| 514,202 ================================ |
2,837 ======================= |
517,039 ================================ |
213,338 ================================ |
8. Expenditure on charitable activities by fund type
9. Expenditure on charitable activities by activity type
10. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2024 | Total 2023 | |
| £ | £ | £ | |
| General office | 797 | 797 | 423 |
| Governance costs | 2,040 | 2,040 | 2,040 |
| ----------------------- | ----------------------- | ----------------------- | |
| 2,837 | 2,837 | 2,463 | |
| ======================= | ======================= | ======================= |
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
11. Analysis of grants
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Grants to institutions | ||
| Avnei Kodesh | 79,765 | 201,500 |
| BCH Trust | 23,800 | 9,375 |
| British Friends Of Ezrat Yisrael Kiryat Sefer | 400,000 | – |
| Emes Foundation | 4,500 | – |
| Helping Foundation | 4,837 | – |
| Grants less than £1000 | 1,300 | – |
| -------------------------------- | -------------------------------- | |
| 514,202 | 210,875 | |
| -------------------------------- | -------------------------------- | |
| Total grants | 514,202 ================================ |
210,875 ================================ |
12. Net gains on investments
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Gains/(losses) on investment property | 311,130 | 311,130 | – | – | |
| ================================ | ================================ | ============== | ============== | ||
| 13. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 100 | 114 | |||
| ============== | ============== | ||||
| 14. | Independent examination fees | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial | statements | 2,040 ======================= |
2,040 ======================= |
15. Staff costs
The average head count of employees during the Year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
16. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees, nor were any expenses reimbursed to the trustees.
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
17. Tangible fixed assets
| Equipment | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| At 1 April 2023 and 31 March 2024 | 458 | 458 |
| ============== | ============== | |
| Depreciation | ||
| At 1 April 2023 | 358 | 358 |
| Charge for the year | 100 | 100 |
| -------------- | -------------- | |
| At 31 March 2024 | 458 | 458 |
| ============== | ============== | |
| Carrying amount | ||
| At 31 March 2024 | – | – |
| ============== | ============== | |
| At 31 March 2023 | 100 | 100 |
| ============== | ============== | |
| Investments | ||
| Investment | ||
| properties | ||
| £ | ||
| Cost or valuation | ||
| At 1 April 2023 | 752,088 | |
| Additions | 40,671 | |
| Disposals | (452,981) | |
| -------------------------------- | ||
| At 31 March 2024 | 339,778 | |
| ================================ | ||
| Impairment | ||
| At 1 April 2023 and 31 March 2024 | ||
| Carrying amount | ||
| At 31 March 2024 | 339,778 | |
| ================================ | ||
| At 31 March 2023 | 752,088 | |
| ================================ |
18. Investments
All investments shown above are held at valuation.
Investment properties
UK investment property consists of two property syndicates in which the charity holds a 4.5% and 1.13% share respectively. The trustees are of the opinion that the valuation of these syndicates is at fair value.
19. Debtors
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other debtors | 45,020 | 55,431 |
| ============================ | ============================ |
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
20. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 5,280 | 14,474 |
| Accruals and deferred income | 2,096 | 1,974 |
| Other creditors | 232,388 | 239,448 |
| -------------------------------- | -------------------------------- | |
| 239,764 ================================ |
255,896 ================================ |
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | |||||||
| At | Gains and | 31 March | 20 | ||||
| 1 | April 2023 | Income | Expenditure | losses | 24 | ||
| £ | £ | £ | £ | £ | |||
| General funds | 559,071 | 137,909 | (534,946) | 311,130 | 473,164 | ||
| ================================ | ================================ | ================================ | ================================ | ================================ | |||
| At | |||||||
| At | Gains and | 31 March | 20 | ||||
| 1 | April 2022 | Income | Expenditure | losses | 23 | ||
| £ | £ | £ | £ | £ | |||
| General funds | 566,061 | 206,348 | (213,338) | – | 559,071 | ||
| ================================ | ================================ | ================================ | ============== | ================================ |
22. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Investments | 339,778 | 339,778 |
| Current assets | 373,150 | 373,150 |
| Creditors less than 1 year | (239,764) | (239,764) |
| -------------------------------- | -------------------------------- | |
| Net assets | 473,164 | 473,164 |
| ================================ | ================================ | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Investments | 752,188 | 752,188 |
| Current assets | 62,779 | 62,779 |
| Creditors less than 1 year | (255,896) | (255,896) |
| -------------------------------- | -------------------------------- | |
| Net assets | 559,071 | 559,071 |
| ================================ | ================================ |
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The Reisner Charitable Foundation Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
23. Related parties
British Friends of Ezrat Yisrael Kiryat Sefer (BFOEYKS) is a related party by virtue of the fact that Mr D Neuwirth trustee of the charity has significant influence over it. During the year charity made grants totalling £400,000 to BFOEYKS.
RNH synagogue & college Ltd (RNH) is a related party by virtue of the fact that Mr B Hassan and Mr D Neuwirth trustees of The Reisner Charitable Foundation Ltd have significant influence over it. During the year the charity repaid £2,405 of a loan to RNH and at the year end £545 was still outstanding. The loan is on an interest free basis.
No other transactions with related parties, disclosable under the Charities SORP (FRS 102), were entered into.
24. Taxation
The Reisner Charitable Foundation Ltd is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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