Charity registration number 1120311
JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr Alexander Strom Rabbi David Halpern Darren Strom Jacob Reich Charity number 1120311 Principal address 33 SHIREHALL PARK LONDON NW4 2QN Independent examiner Weissbraun Emanuel 220 The Vale London NW11 8SR Bankers Barclays Bank Plc 126 Station Road Edgware Middlesex HA8 7RY
JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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).
Objectives and activities
The objects of the charity are for the relief of poverty amongst persons who are of the Jewish faith in any part of the world for the advancement of the Jewish Religion generally and for the maintenance of places of Jewish learning generally and for the advancement of Jewish Religious education threat and also for the support of lawful institutions anywhere in the world.
The charity's distribution policy is to avail the intended beneficiaries of funds according to the objects of the charity as soon as they are in hand.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance Financial review
In the period under review, the Project made a surplus of £1,913. (2021: £459.)
Reserve policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Investment policy
The Charity has a policy to invest as and when appropriate in order to achieve sufficient income to be able to support the charity's objects.
Risk management
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Plans for future periods
The charity accepts requests from impoverished individuals and families and on that basis applies to individuals for donations in order to alleviate poverty and payments are made by the trustees as and when they see fit.
Structure, governance and management
The charity was established by a charitable trust deed.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr Alexander Strom Rabbi David Halpern Darren Strom Jacob Reich
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JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The day to day activities are delegated to Mr Alexander Strom and supported by all other trustees.
The trustees report was approved by the Board of Trustees.
Mr Alexander Strom
Trustee
3 November 2023
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JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
I report to the trustees on my examination of the financial statements of Jewish Rescue & Relief Committee Of Agudas Israel World Organisation (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 financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by 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 now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with 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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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 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 financial statements to be reached.
Mimi Aung, FCCA Michael, Pasha and Co 220 The Vale London. NW11 8SR 220 The Vale London NW11 8SR
Dated: 3 November 2023
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JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Unrestricted funds funds 2022 2021 Notes £ £ Income from: Donations and legacies 3 36,546 20,541 Expenditure on: Charitable activities 4 34,633 20,082 Net income for the year/ Net movement in funds 1,913 459 Fund balances at 1 January 2022 (122) (581) Fund balances at 31 December 2022 1,791 (122) The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. |
Unrestricted Unrestricted funds funds 2022 2021 Notes £ £ Income from: Donations and legacies 3 36,546 20,541 Expenditure on: Charitable activities 4 34,633 20,082 Net income for the year/ Net movement in funds 1,913 459 Fund balances at 1 January 2022 (122) (581) Fund balances at 31 December 2022 1,791 (122) The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. |
|---|---|
| The statement of financial activities includes all gains and losses recognised in the year. | |
| All income and expenditure derive from continuing activities. |
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JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets/(liabilities) Income funds Unrestricted funds |
2022 £ 2,523 (732) |
£ 1,791 1,791 1,791 |
2021 £ 610 (732) |
£ (122) (122) (122) |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 3 November 2023
Mr Alexander Strom Trustee
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JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
Charity information
Jewish Rescue & Relief Committee Of Agudas Israel World Organisation is a registered charity no. 1120311 in England and Wales established by trust deed.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 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 settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
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JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.7 Taxation
The Charity is exempt from taxation due to its charity status.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
3 Donations and legacies
| Unrestricted Unrestricted funds funds 2022 2021 £ £ Donations and gifts 36,546 20,541 4 Charitable activities 2022 2021 £ £ Charitable payments 33,359 19,350 Share of support costs (see note 5) 542 - Share of governance costs (see note 5) 732 732 34,633 20,082 |
Unrestricted Unrestricted funds funds 2022 2021 £ £ Donations and gifts 36,546 20,541 4 Charitable activities 2022 2021 £ £ Charitable payments 33,359 19,350 Share of support costs (see note 5) 542 - Share of governance costs (see note 5) 732 732 34,633 20,082 |
Unrestricted Unrestricted funds funds 2022 2021 £ £ Donations and gifts 36,546 20,541 4 Charitable activities 2022 2021 £ £ Charitable payments 33,359 19,350 Share of support costs (see note 5) 542 - Share of governance costs (see note 5) 732 732 34,633 20,082 |
|---|---|---|
| 2022 £ 33,359 542 732 34,633 |
2021 £ 19,350 - 732 |
|
| 20,082 |
5 Support costs
| Support costs | ||
|---|---|---|
| Support costs Governance costs £ £ Advertising 385 - Sundry 157 - Accountancy - 732 542 732 Analysed between Charitable activities 542 732 |
2022 £ 385 157 732 1,274 1,274 |
2021 £ - - 732 |
| 732 | ||
| 732 |
Governance costs includes payments to the independent examiner of £732 (2021- £720) for the service provided.
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JEWISH RESCUE & RELIEF COMMITTEE OF AGUDAS ISRAEL WORLD ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration nor benefit during the year, and no expense was incurred by them.
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
7 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
9 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Accruals and deferred income | 732 | 732 |
10 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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