REGISTERED COMPANY NUMBER: 06400351 (England and Wales) REGISTERED CHARITY NUMBER: 1121662
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2020
for
KEREN AMHA LIMITED
Martin+Heller 5 North End Road London NW11 7RJ
KEREN AMHA LIMITED
Contents of the Financial Statements for the Year Ended 31 October 2020
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Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 13
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KEREN AMHA LIMITED
Report of the Trustees for the Year Ended 31 October 2020
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 31 October 2020. 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 charity was formed for the advancement of the orthodox Jewish faith and the advancement of orthodox Jewish religious education, also the relief of poverty, sickness and infirmity amongst members of the Jewish faith and the advancement of such other objects as are charitable according to English Law.
Significant activities
There were no significant activities to be reported.
Public benefit
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
Grantmaking
Keren Amha Limited has within its Articles of Association the ability to make donations.
Volunteers
During the year, the charity did not have any volunteers to help with the objective of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from contributions received from donors.
The Statement of Financial Activities shows a net deficit of £28,896 (2019: £143,386 gain) after making total grants of £103,286 (2019: £87,674) and the reserves stand at £623,431 (2019: £652,327).
Investment performance
The trustees are currently satisfied with the investment performance of the assets. The Company has not expanded its activities during the current year, but is always looking at opportunities, the current investment portfolio is producing good results which enhances its charitable activities.
Internal and external factors
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
FINANCIAL REVIEW
Principal funding sources
Keren Amha Limited is pleased and fortunate to receive donations from a number of organisations. Also through its investment policy the returns from the investments have produced good rental income.
Overall the charity has experienced a good year and hopes it will continue to do so next year.
Investment policy and objectives
Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that investment in property meets their requirements to generate both income and capital growth.
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KEREN AMHA LIMITED
Report of the Trustees for the Year Ended 31 October 2020
FINANCIAL REVIEW
Reserves policy
The charity does not maintain a reserves policy, as reserves are distributed when they become available at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
There are no significant future developments to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005. The company was formed on 22 November 2007. The charity is managed and controlled by the directors who are the trustees, who meet regularly.
Recruitment and appointment of new trustees
Trustees are appointed according to the Articles of Association.
Induction and training of new trustees
All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charities views of its progression.
New trustees undergo a briefing to ensure they are aware of both their legal and professional responsibilities under charity and company law.
Wider network
At present, Keren Amha Limited does not consider itself part of a wider network.
Related parties
Full details of the Related Party Transactions during the year ended 31 October 2018 can be found in Note 9 of the Financial Statements.
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06400351 (England and Wales)
Registered Charity number
1121662
Registered office
90 Princes Park Avenue London NW11 0JX
Trustees
A Gefilhaus Mrs A Gefilhaus
Company Secretary
A Gefilhaus
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KEREN AMHA LIMITED
Report of the Trustees
for the Year Ended 31 October 2020
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Frank Martin ACA Martin+Heller 5 North End Road London NW11 7RJ Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ A Gefilhaus - Trustee
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Independent Examiner's Report to the Trustees of KEREN AMHA LIMITED
Independent examiner's report to the trustees of KEREN AMHA LIMITED ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2020.
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
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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.
Frank Martin ACA Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
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KEREN AMHA LIMITED
Statement of Financial Activities for the Year Ended 31 October 2020
| 31.10.20 | 31.10.19 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 46,000 | 42,000 | |
| Investment income | 2 | 29,668 | 21,758 |
| Total | 75,668 | 63,758 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Donations to institutions | 103,286 | 87,674 | |
| Other | 1,278 | 1,278 | |
| Total | 104,564 | 88,952 | |
| Net gains on investments | - | 168,580 | |
| NET INCOME/(EXPENDITURE) | (28,896) | 143,386 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 652,327 | 508,941 | |
| TOTAL FUNDS CARRIED FORWARD | 623,431 | 652,327 |
The notes form part of these financial statements
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KEREN AMHA LIMITED
Balance Sheet 31 October 2020
| Notes FIXED ASSETS Investments 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 10 NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.10.20 Unrestricted fund £ 625,000 - 444,807 444,807 (1,500) 443,307 1,068,307 (444,876) 623,431 623,431 623,431 |
31.10.19 Total funds £ 625,000 130,000 411,016 541,016 (18,813) 522,203 1,147,203 (494,876) 652,327 652,327 652,327 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 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.
The notes form part of these financial statements
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continued...
KEREN AMHA LIMITED
Balance Sheet - continued 31 October 2020
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 by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A Gefilhaus - Trustee
The notes form part of these financial statements
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KEREN AMHA LIMITED
Notes to the Financial Statements for the Year Ended 31 October 2020
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, with the exception of investments which are included at market value.
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. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| Income from investments | 22,441 | 20,499 |
| Deposit account interest | 7,227 | 1,259 |
| 29,668 | 21,758 |
continued...
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KEREN AMHA LIMITED
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
3. GRANTS PAYABLE
| Donations to institutions The total grants paid to institutions during the year was as follows: Donations less than £5,000 C.M.M Tomchei Yotzei Anglia The Friends of Alexander Institutions Trust K.E.L.B.Y. The Sanz Foundation SOFT Chasdei Dov trust Mercaz Chasid Wiznitz The Gevurath Ari Torah The Telz Talmudical college |
31.10.20 £ 103,286 31.10.20 £ 17,786 8,500 15,000 - 17,000 - - 10,000 10,000 15,000 10,000 103,286 |
31.10.19 £ 87,674 |
|---|---|---|
| 31.10.19 £ 13,927 - - 40,000 15,500 10,000 8,247 - - - - |
||
| 87,674 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
31.10.20 31.10.19
No employees received emoluments in excess of £60,000.
continued...
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KEREN AMHA LIMITED
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 42,000 | |
| Investment income | 21,758 | |
| Total | 63,758 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Donations to institutions | 87,674 | |
| Other | 1,278 | |
| Total | 88,952 | |
| Net gains on investments | 168,580 | |
| NET INCOME | 143,386 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 508,941 | |
| TOTAL FUNDS CARRIED FORWARD | 652,327 | |
| 7. | FIXED ASSET INVESTMENTS | |
| Joint | ||
| venture | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 November 2019 and 31 October 2020 | 625,000 | |
| NET BOOK VALUE | ||
| At 31 October 2020 | 625,000 | |
| At 31 October 2019 | 625,000 | |
| There were no investment assets outside the UK. |
continued...
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KEREN AMHA LIMITED
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|---|
| 31.10.20 | 31.10.19 | ||||
| £ | £ | ||||
| Other debtors | - | 130,000 | |||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.10.20 | 31.10.19 | ||||
| £ | £ | ||||
| Trade creditors | - | 16,233 | |||
| Accrued expenses | 1,500 | 2,580 | |||
| 1,500 | 18,813 | ||||
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||
| 31.10.20 | 31.10.19 | ||||
| £ | £ | ||||
| Other creditors | 444,876 | 494,876 | |||
| 11. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| At | movement | At | |||
| 1/11/19 | in funds | 31/10/20 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 652,327 | (28,896) | 623,431 | ||
| TOTAL FUNDS | 652,327 | (28,896) | 623,431 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 75,668 | (104,564) | (28,896) | ||
| TOTAL FUNDS | 75,668 | (104,564) | (28,896) |
continued...
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KEREN AMHA LIMITED
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/11/18 £ Unrestricted funds General fund 508,941 TOTAL FUNDS 508,941 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 63,758 (88,952) TOTAL FUNDS 63,758 (88,952) |
Net movement At in funds 31/10/19 £ £ 143,386 652,327 143,386 652,327 Gains and Movement losses in funds £ £ 168,580 143,386 168,580 143,386 |
At 31/10/19 £ 652,327 |
|---|---|---|
| 652,327 | ||
| 143,386 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/11/18 £ 508,941 508,941 |
Net movement in funds £ 114,490 114,490 |
At 31/10/20 £ 623,431 |
|---|---|---|---|
| 623,431 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 139,426 139,426 |
Resources expended £ (193,516) (193,516) |
Gains and Movement losses in funds £ £ 168,580 114,490 168,580 114,490 |
Gains and Movement losses in funds £ £ 168,580 114,490 168,580 114,490 |
|---|---|---|---|---|
| 114,490 |
continued...
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KEREN AMHA LIMITED
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
12. RELATED PARTY DISCLOSURES
During the year Keren Amha Limited received donations totalling £46,000 (2019: £42,000), the breakdown of donations received were as follows: Received from Holdville Limited - £46,000 (2019: £42,000) a company in which Mrs A Gefilhaus is Director and Trustee of the Company.
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