CHARITY REGISTRATION NUMBER: 1111759
Jewish Education in Manchester Unaudited Financial Statements
4 April 2021
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Jewish Education in Manchester
Financial Statements
Year ended 4 April 2021
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| Trustees' annual report | 1 to 2 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 to 9 |
Jewish Education in Manchester
Trustees' Annual Report
Year ended 4 April 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 4 April 2021.
Reference and administrative details
Registered charity name Jewish Education in Manchester Charity registration number 1111759 Principal office 1 Wellington Street East Salford Manchester M7 AU The trustees A Bar-Ilan A Arnold M Cohen Independent examiner D Schwarz FCCA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
Jewish Education in Manchester is a charitable trust constituted by a Deed of Trust dated 20th June 2005 and is a registered charity, number 1111759.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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Jewish Education in Manchester
Trustees' Annual Report (continued)
Year ended 4 April 2021
Objectives and activities
The objectives of the charity are;
(i) to advance religious education in accordance with the doctrines and principles of the Orthodox Jewish Faith; (ii) to promote and advance the Jewish religion and ethics by the running of prayer groups on a regular basis.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Achievements and performance
During the year the charity spent £35,004 in furtherance of it objectives.
Financial review
As at 4 April 2020 the charity held available reserves of £96,171 (2020:£86,630).
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. It is the charity's policy to maintain cash reserves equivalent to approximately one year of expenditure, to enable the charity to continue making grants.
The trustees' annual report was approved on 21 April 2021 and signed on behalf of the board of trustees by:
A Arnold Trustee
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Jewish Education in Manchester
Independent Examiner's Report to the Trustees of Jewish Education in Manchester
Year ended 4 April 2021
I report to the trustees on my examination of the financial statements of Jewish Education in Manchester ('the charity') for the year ended 4 April 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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.
I have completed my examination. I confirm that no material 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 Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
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Jewish Education in Manchester
Statement of Financial Activities
Year ended 4 April 2021
| 2021 | 2021 | 2020 | ||
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| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 44,545 | 44,545 | 48,747 |
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| Total income | 44,545 | 44,545 | 48,747 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 35,004 | 35,004 | 34,211 |
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| Total expenditure | 35,004 | 35,004 | 34,211 | |
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| Net income and net movement in funds | 9,541 | 9,541 | 14,536 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 86,630 | 86,630 | 72,094 | |
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| Total funds carried forward | 96,171 | 96,171 | 86,630 | |
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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 6 to 9 form part of these financial statements.
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Jewish Education in Manchester
Statement of Financial Position
4 April 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 96,651 | 87,110 | ||
| Creditors: amounts falling due within one year | 10 | 480 | 480 | |
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| Net current assets | 96,171 | 86,630 | ||
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| Total assets less current liabilities | 96,171 | 86,630 | ||
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| Net assets | 96,171 | 86,630 | ||
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| Funds of the charity | ||||
| Unrestricted funds | 96,171 | 86,630 | ||
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| Total charity funds | 11 | 96,171 | 86,630 | |
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These financial statements were approved by the board of trustees and authorised for issue on 21 April 2021, and are signed on behalf of the board by:
A Arnold Trustee
The notes on pages 6 to 9 form part of these financial statements.
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Jewish Education in Manchester
Notes to the Financial Statements
Year ended 4 April 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 1 Wellington Street East, Salford, Manchester, M7 2AU.
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 Charities Act 2011.
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.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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:
- 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.
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Jewish Education in Manchester
Notes to the Financial Statements (continued)
Year ended 4 April 2021
3. Accounting policies (continued)
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Charitable activities are expenses incurred in promoting and advancing Jewish religion and education.
Expenditure also includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Governance costs are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 44,545 | 44,545 | 48,747 | 48,747 |
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5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
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| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Charitable activities | 34,524 | 34,524 | 33,732 | 33,732 |
| Support costs | 480 | 480 | 479 | 479 |
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| 35,004 | 35,004 | 34,211 | 34,211 | |
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Jewish Education in Manchester
Notes to the Financial Statements (continued)
Year ended 4 April 2021
6. Expenditure on charitable activities by activity type
| Activities | ||||
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| undertaken | Total funds | Total fund | ||
| directly Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | |
| Charitable activities | 34,524 | – | 34,524 | 33,732 |
| Governance costs | – | 480 | 480 | 479 |
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| 34,524 | 480 | 35,004 | 34,211 | |
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| Independent examination fees | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 480 | 480 | ||
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7. Independent examination fees
8. Staff costs
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
9. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
10. Creditors: amounts falling due within one year
| 2021 | 2020 | |||
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| £ | £ | |||
| Accruals and deferred income | 480 | 480 | ||
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| Analysis of charitable funds | ||||
| Unrestricted funds | ||||
| At | At | |||
| 5 April 2020 | Income | Expenditure | 4 April 2021 | |
| £ | £ | £ | £ | |
| General funds | 86,630 | 44,545 | (35,004) | 96,171 |
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| At | At | |||
| 5 April 2019 | Income | Expenditure | 4 April 2020 | |
| £ | £ | £ | £ | |
| General funds | 72,094 | 48,747 | (34,211) | 86,630 |
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11. Analysis of charitable funds
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Jewish Education in Manchester
Notes to the Financial Statements (continued)
Year ended 4 April 2021
12. Analysis of net assets between funds
| Unrestricted | Total Funds | |
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| Funds | 2021 | |
| £ | £ | |
| Current assets | 96,651 | 96,651 |
| Creditors less than 1 year | (480) | (480) |
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| Net assets | 96,171 | 96,171 |
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| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Current assets | 87,110 | 87,110 |
| Creditors less than 1 year | (480) | (480) |
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| Net assets | 86,630 | 86,630 |
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13. Taxation
Jewish Education in Manchester is a registered charity and therefore is not liable to income tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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