REGISTERED COMPANY NUMBER: 06432715 (England and Wales) REGISTERED CHARITY NUMBER: 1123001
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Cash Flow Statement | 9 | ||
| Notes to the Cash Flow Statement | 10 | ||
| Notes to the Financial Statements | 11 | to | 18 |
CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)
REPORT OF THE TRUSTEES
for the year ended 31 December 2022
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 December 2022. 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 objects of the charity are:
(i) the advancement of the Orthodox Jewish religion in accordance with the principles of Chabad Lubavitch;
(ii) the advancement of Orthodox Jewish religious education;
(iii) the relief of poverty and sickness and the advancement of education amongst persons of the Jewish faith.
(iv) such other charitable objects or charitable purposes as the charity may from time to time determine.
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)
REPORT OF THE TRUSTEES
for the year ended 31 December 2022
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trustees are delighted to share the continued growth of our Patrons & Friends campaign, started 6+ years ago and now comprises more than 85 participants, having added a category for "Young Ambassadors" aimed at younger supporters. We hope to reinstate our Annual "special event" for these "partners" in the next few months.
We also successfully continue to raise additional funds through our annual "crowdfunding" campaign. These financial proceeds, together with other fundraising projects and control of costs have allowed the charity to continue operating and thus maintain vital support to the local and wider communities throughout Essex.
It is through the help and support of our various fundraising arms, CET - Chabad Events Team, the Patrons & Friends campaign, the "crowdfunding" fundraising and our bi-annual mailing appeals, Synagogue and friendship support, regular standing orders and periodic additional donations that we ensure that our many activities are self-funded. The Trustees appreciate it takes many partners to continue Chabad's success story and a special mention to a unique friend who has raised in 2022 and 2023, an additional £40,000 by organising a sponsored "Spinathon" event.
The general economic downturn has presented fundraising challenges as well as an increased demand for the social and welfare activities provided by the charity. The Trustees remain committed to ensuring that Chabad can continue to maintain the vital services and programmes it provides to the local communities it supports and can meet the growing demands and needs of the wider communities of Southend and Havering and other potential areas in Essex. To this end, the trustees have continued to meet and communicate regularly to oversee and scrutinize the expenditure of our Chabad Centres to ensure that every "£" raised from our supporters is spent responsibly.
During 2022, our Chabad Centres across Essex continued to deliver wider services and support in new and innovative ways. Our summer day camp in 2022 showed a return to a larger number of participants and weekly Hebrew classes have been maintained from all our Centres. Our Adult education programs have increased multifold and the numbers attending similarly both in person and via Zoom. Uptake of our expanding food distribution services continues to increase including "Chabad" home cooked meals, combined with a significant food distribution programme supported by donations through "Fare Share", and many other benefactors ensures that many hundreds of people benefit directly from our organisation and effort including that of a team of totally committed volunteers.
Counselling services have continued to increased in response to the crisis needs of those affected by the ills of addiction, combined with direct access to professional family and other classifications of counselling.
The Trustees commitment to Chabad building projects is ongoing. We are pleased to report the appointment of a new Chabad Shluchim (emissaries) couple located in Southend, Essex who have successfully settled in and have ambitious plans for the future.
PUBLIC BENEFIT REPORT
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit and 'The Advancement of Religion for the Public Benefit' on particular, when reviewing the aim and objectives and in planning the charity's future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives set.
FINANCIAL REVIEW
Financial position
During the year the charity reported a net deficit of £127,562 (2021 - £120,433 surplus) taking the total funds carried forward to £561,668 (2021 - £689,230). Chabad has continued to deliver a hugely modified range of innovative services and support, and with the commitment of an enlarged team of volunteers, our budgets will be met ensuring we continue the delivery of our ongoing and future development plans.
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)
REPORT OF THE TRUSTEES
for the year ended 31 December 2022
FINANCIAL REVIEW
Investment policy and objectives
Under its Memorandum of Association the charity has the power to invest in any way the trustees wish.
The trustees, having regard to the liquidity requirements of operating the charity have maintained a policy of keeping available funds in interest bearing deposit accounts.
Reserves policy
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary donations and grants. The trustees consider that the ideal level of reserves as at 31 December 2022 would be three months of the expenditure which equates to approximately £200,000. The actual reserves at 31 December 2022 were £561,668 of which free reserves were £242,142. The trustees review the funds regularly to address any shortfall in reserves and to ensure that there are sufficient reserves to provide financial stability and flexibility.
FUTURE PLANS
The charity is currently working on implementation of a five-year strategic plan which encompasses five key objectives:
-
To expand, develop and continually improve our services to meet the needs of existing and potential users.
-
To attract, recruit and retain the best quality staff and volunteers;
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To provide high quality, cost effective service delivery across all our services; and
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To establish new partnerships and build on existing relationships and work with our partners in the areas;
-
To continue the expansion of the Chabad Centres throughout Essex
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Chabad Lubavitch Centre North East London and Essex Limited is a company limited by guarantee without share capital, incorporated on 21 November 2007 and registered as a charity on 28 February 2008.
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
New trustees are appointed due to their interest in the work of the charity and their recognised experience in specific fields which will further support the work of Chabad Lubavitch Centre. Trustees can retire when they wish as they do not serve under a fixed term of tenure. The Trustees are pleased to report that the Executive Board comprises those offering the necessary levels of expertise for the Charity whilst increasing network opportunities.
Organisational structure
The board of trustees administers the charity. The board meets twice quarterly.
The board of trustees is assisted by the charity's directors.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06432715 (England and Wales)
Registered Charity number
1123001
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)
REPORT OF THE TRUSTEES
for the year ended 31 December 2022
Registered office
Doris Shpiro House 397 Eastern Avenue Ilford Essex IG2 6LR
Trustees
The charity is managed by a board of trustees who are also the company directors. The following served as trustees and directors during the year:
Mr B S Mitchell Mr D M Burney (Chair) Mr P J Groman-Marks Mr E Itzinger Mrs J A Osen Mr YY Sufrin Mr L R Young
Company Secretaries
Mr B S Mitchell Mr A S Brandman
Independent Examiner
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
Approved by order of the board of trustees on 6 November 2023 and signed on its behalf by:
Mr B S Mitchell - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
Independent examiner's report to the trustees of Chabad Lubavitch Centres North East London And Essex Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 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
-
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.
Mr Yedidya Zaiden
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
6 November 2023
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 622,266 Other trading activities 3 4,994 Investment income 4 26,104 Total 653,364 EXPENDITURE ON Raising funds 5 3,874 Charitable activities 6 Education and the relief of poverty 777,052 Total 780,926 NET INCOME/(EXPENDITURE) (127,562) RECONCILIATION OF FUNDS Total funds brought forward 689,230 TOTAL FUNDS CARRIED FORWARD 561,668 |
Restricted fund £ 5,683 - - 5,683 - 5,683 5,683 - - - |
2022 Total funds £ 627,949 4,994 26,104 659,047 3,874 782,735 786,609 (127,562) 689,230 561,668 |
2021 Total funds £ 889,552 4,229 26,030 |
|---|---|---|---|
| 919,811 | |||
| 4,252 795,126 |
|||
| 799,378 | |||
| 120,433 568,797 |
|||
| 689,230 |
The notes form part of these financial statements
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)
BALANCE SHEET 31 December 2022
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Stocks 12 Debtors 13 Cash at bank CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS FUNDS 17 Unrestricted funds TOTAL FUNDS |
Unrestricted funds £ 343,899 12,379 21,058 226,105 259,542 (16,673) 242,869 586,768 (25,100) 561,668 |
Restricted fund £ - - - - - - - - - - |
2022 Total funds £ 343,899 12,379 21,058 226,105 259,542 (16,673) 242,869 586,768 (25,100) 561,668 561,668 561,668 |
2021 Total funds £ 334,363 14,379 31,592 371,162 417,133 (28,099) 389,034 723,397 (34,167) 689,230 689,230 689,230 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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
continued...
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)
BALANCE SHEET - continued
31 December 2022
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 6 November 2023 and were signed on its behalf by:
Mr B S Mitchell - Trustee
The notes form part of these financial statements
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
CASH FLOW STATEMENT
for the year ended 31 December 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash (used in)/provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash (used in)/provided by investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2022 £ (102,470) (4,315) (106,785) (29,309) 104 (29,205) (9,067) (9,067) (145,057) 371,162 226,105 |
2021 £ 143,286 (4,363) 138,923 - 30 30 (5,832) (5,832) 133,121 238,041 371,162 |
|---|---|---|
The notes form part of these financial statements
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE CASH FLOW STATEMENT
for the year ended 31 December 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | |||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Net (expenditure)/income for the reporting period (as per the Statement | |||
| of Financial Activities) | (127,562) | 120,433 | |
| Adjustments for: | |||
| Depreciation charges | 19,773 | 14,285 | |
| Interest received | (104) | (30) | |
| Interest paid | 4,315 | 4,363 | |
| Decrease/(increase) in stocks | 2,000 | (2,234) | |
| Decrease/(increase) in debtors | 10,534 | (3,231) | |
| (Decrease)/increase in creditors | (11,426) | 9,700 | |
| Net cash (used in)/provided by operations | (102,470) | 143,286 | |
| ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.1.22 | Cash flow | At 31.12.22 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 371,162 | (145,057) | 226,105 |
| 371,162 | (145,057) | 226,105 | |
| Debt | |||
| Debts falling due within 1 year | (10,000) | - | (10,000) |
| Debts falling due after 1 year | (34,167) | 9,067 | (25,100) |
| (44,167) | 9,067 | (35,100) | |
| Total | 326,995 | (135,990) | 191,005 |
2. ANALYSIS OF CHANGES IN NET FUNDS
The notes form part of these financial statements
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2022
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.
Going Concern
The trustees, having made appropriate enquiries, consider that adequate resources exists for the charity to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt going concern basis in preparing the financial statements as at and for the period ended 31 December 2022. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.
The trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet the liabilities as they fall due. In arriving at the conclusion, the trustees have considered the potential implications of the effects of Covid 19 on the charity. The figures for the period under consideration have not been impacted by Covid 19 and the trustees are confident that no adjustments are necessary to the carrying value of the assets held at the balance sheet date.
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.
Gifts in kind and donated services
Gifts in kind and donated services are included at the lower of their value to the charity and their estimated market value.
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.
Charitable activities
The cost of charitable activities comprises those incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost Fixtures and fittings Motor vehicles Computer equipment
- 25% on reducing balance - 25% on reducing balance - 25% on reducing balance
continued...
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022
1. ACCOUNTING POLICIES - continued
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlement can be estimated reliably.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
continued...
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022
| 2. DONATIONS AND LEGACIES Donations Events and Function income Grants received Grants received, included in the above, are as follows: Community Security Trust (CST) Job retention scheme grants Local council grants The London Community Foundation 3. OTHER TRADING ACTIVITIES Shop income 4. INVESTMENT INCOME Rents received Interest receivable |
2022 £ 580,564 31,786 15,599 627,949 2022 £ 5,683 - 9,916 - 15,599 2022 £ 4,994 2022 £ 26,000 104 26,104 |
2021 £ 717,867 78,960 92,725 |
2021 £ 717,867 78,960 92,725 |
|---|---|---|---|
| 889,552 | |||
| 2021 £ 7,500 30,540 44,833 9,852 |
|||
| 92,725 | |||
| 2021 £ 4,229 2021 £ 26,000 30 |
|||
| 26,030 |
continued...
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022
5. RAISING FUNDS
Other trading activities
| 2022 £ Purchases 3,874 6. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 7) £ £ Education and the relief of poverty 645,136 137,599 7. SUPPORT COSTS Office and administration Governance £ £ Education and the relief of poverty 137,451 148 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2022 £ Depreciation - owned assets 19,773 |
2021 £ 4,252 Totals £ 782,735 |
|---|---|
| Totals £ 137,599 |
|
| 2021 £ 14,286 |
There were no Independent Examiners fees for the year ended 31 December 2022 nor for the year ended 31 December 2021.
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
continued...
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Management, operational and admin The number of employees whose employee benefits (excluding employer pension costs) £60,001 - £70,000 TANGIBLE FIXED ASSETS Improvements Fixtures to and Motor property fittings vehicles £ £ £ COST At 1 January 2022 346,514 88,584 20,500 Additions - 20,757 6,550 At 31 December 2022 346,514 109,341 27,050 DEPRECIATION At 1 January 2022 34,216 76,892 13,645 Charge for year 6,930 8,112 3,351 At 31 December 2022 41,146 85,004 16,996 NET BOOK VALUE At 31 December 2022 305,368 24,337 10,054 At 31 December 2021 312,298 11,692 6,855 |
|
|---|---|
11. TANGIBLE FIXED ASSETS
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continued...
CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022
| 12. STOCKS Stocks 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans (see note 16) Social security and other taxes Other creditors 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 16) 16. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans within 1 year Amounts falling between one and two years: Bank loan 1-2 years Amounts falling due between two and five years: Bank loans 2-5 years |
2022 £ 12,379 2022 £ 1,700 19,358 21,058 2022 £ 10,000 5,393 1,280 16,673 2022 £ 25,100 2022 £ 10,000 10,000 15,100 |
2021 £ 14,379 |
|---|---|---|
| 2021 £ 1,700 29,892 |
||
| 31,592 | ||
| 2021 £ 10,000 9,114 8,985 |
||
| 28,099 | ||
| 2021 £ 34,167 |
||
| 2021 £ 10,000 |
||
| 10,000 | ||
| 24,167 |
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continued...
CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022
17. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Community Security Trust (CST) TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.1.22 £ 689,230 689,230 Incoming resources £ 653,364 5,683 659,047 At 1.1.21 £ 568,797 568,797 |
Net movement At in funds 31.12.22 £ £ (127,562) 561,668 (127,562) 561,668 Resources Movement expended in funds £ £ (780,926) (127,562) (5,683) - (786,609) (127,562) Net movement At in funds 31.12.21 £ £ 120,433 689,230 120,433 689,230 |
|---|---|---|
continued...
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CHABAD LUBAVITCH CENTRES NORTH EAST LONDON AND ESSEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2022
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Community Security Trust (CST) TOTAL FUNDS |
Incoming resources £ 912,311 7,500 919,811 |
Resources Movement expended in funds £ £ (791,878) 120,433 (7,500) - (799,378) 120,433 |
Resources Movement expended in funds £ £ (791,878) 120,433 (7,500) - (799,378) 120,433 |
|---|---|---|---|
| 120,433 |
Unrestricted funds represent funds available to the trustees for the general purposes of the charity.
Restricted funds
During the year, the charity received donations and grants to be applied fo specific purposes as listed below:
Community Security Trust (CST)
Funds from the Community Security Trust to cover the security expenses for the charity.
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the years ended 31 December 2022 and 31 December 2021.
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