REGISTERED COMPANY NUMBER: 06086770 (England and Wales) REGISTERED CHARITY NUMBER: 1121615
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
FOR
NESINEH
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
NESINEH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Trustees' Responsibilities | 3 | ||
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
NESINEH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29 February 2024. The trustees have adopted the provisions of 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
Objectives and aims
The principal objectives of the company are:
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-The advancement of religion in accordance with the Orthodox Jewish Faith
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-The relief of poverty, and
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-Any other activities recognised by English Law as charitable.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aims and objectives and planning future activities and setting the grant making policy for the year.
The charity was set up to support the activities of religious Jewish organisations especially in the field of education. The trustees identify institutions and organisations which meet its criteria and regularly support a number of these institutions and organisations, which themselves are growing not only in England but also worldwide.
The charity is also supportive of organisations which are solely committed to the relief of poverty. Such organisations assist needy Jewish families financially and also through the distribution of basic necessities.
The income of the charity is derived from donations. The trustees continued their support of those organisations deemed to promote the objects of this charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year under review, the charity received donation totalling £33,000 [2023 - £19,499] and made grants totalling £24,100 [2023 - £35,710].
FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.
Going concern
The trustees believe the charity will continue to operate without curtailing its activity for at least 12 month from the date of the signing of this report. Thus, the financial has been prepared on a going concern basis.
FUTURE PLANS
The Trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
NESINEH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Related parties
Related party transactions, balance and disclosure are made in the notes to the financial statement wherever necessary.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06086770 (England and Wales)
Registered Charity number
1121615
Registered office
115 Craven Park Road South Tottenham London N15 6BL
Trustees
J Schischa Mrs F Schischa J Herzka
Company Secretary
Mrs F Schischa
Independent Examiner
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 7 November 2024 and signed on its behalf by:
Mrs F Schischa - Secretary
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NESINEH
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 29 FEBRUARY 2024
The trustees (who are also the directors of Nesineh for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those 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 in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NESINEH
Independent examiner's report to the trustees of Nesineh ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 29 February 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts 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
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the accounts 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)).
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.
M A VENITT, ACA
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
7 November 2024
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NESINEH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 29 FEBRUARY 2024
| 29.2.24 | 28.2.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 33,000 | 19,499 | |
| Other income | 432 | - | |
| Total | 33,432 | 19,499 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Charitable | 24,100 | 35,710 | |
| Other | 1,099 | 518 | |
| Total | 25,199 | 36,228 | |
| NET INCOME/(EXPENDITURE) | 8,233 | (16,729) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 10,209 | 26,938 | |
| TOTAL FUNDS CARRIED FORWARD | 18,442 | 10,209 |
The notes form part of these financial statements
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NESINEH
STATEMENT OF FINANCIAL POSITION 29 FEBRUARY 2024
| 29.2.24 | 28.2.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 19,342 | 11,541 | |
| CREDITORS | |||
| Amounts falling due within one year | 4 | (900) | (1,332) |
| NET CURRENT ASSETS | 18,442 | 10,209 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 18,442 | 10,209 | |
| NET ASSETS | 18,442 | 10,209 | |
| FUNDS | 5 | ||
| Unrestricted funds | 18,442 | 10,209 | |
| TOTAL FUNDS | 18,442 | 10,209 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the Board of Trustees and authorised for issue on 7 November 2024 and were signed on its behalf by:
J Schischa - Trustee
The notes form part of these financial statements
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NESINEH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 29 February 2024 nor for the year ended 28 February 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 29 February 2024 nor for the year ended 28 February 2023.
continued...
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NESINEH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||||
|---|---|---|---|---|---|
| fund | |||||
| £ | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 19,499 | ||||
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Charitable | 35,710 | ||||
| Other | 518 | ||||
| Total | 36,228 | ||||
| NET INCOME/(EXPENDITURE) | (16,729) | ||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 26,938 | ||||
| TOTAL FUNDS CARRIED FORWARD | 10,209 | ||||
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 29.2.24 | 28.2.23 | ||||
| £ | £ | ||||
| Other creditors | - | 432 | |||
| Accrued expenses | 900 | 900 | |||
| 900 | 1,332 | ||||
| 5. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.3.23 | in funds | 29.2.24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 10,209 | 8,233 | 18,442 | ||
| TOTAL FUNDS | 10,209 | 8,233 | 18,442 |
continued...
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NESINEH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
5. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 33,432 | (25,199) | 8,233 |
| TOTAL FUNDS | 33,432 | (25,199) | 8,233 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.3.22 | in funds | 28.2.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,938 | (16,729) | 10,209 |
| TOTAL FUNDS | 26,938 | (16,729) | 10,209 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 19,499 | (36,228) | (16,729) |
| TOTAL FUNDS | 19,499 | (36,228) | (16,729) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.3.22 | in funds | 29.2.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,938 | (8,496) | 18,442 |
| TOTAL FUNDS | 26,938 | (8,496) | 18,442 |
continued...
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NESINEH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
5. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 52,931 | (61,427) | (8,496) |
| TOTAL FUNDS | 52,931 | (61,427) | (8,496) |
6. RELATED PARTY DISCLOSURES
During the year, the charity received donation totalling £33,000 [2023 - £19,499] from entities where the trustees have significant influence.
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