CHARITY REGISTRATION NUMBER: 1123159
Beis Hillel Trust
Unaudited Financial Statements 31 December 2020
Beis Hillel Trust
Financial Statements
Year ended 31 December 2020
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
Beis Hillel Trust
Trustees' Annual Report
Year ended 31 December 2020
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2020.
Reference and administrative details
Registered charity name Beis Hillel Trust Charity registration number 1123159 Principal office 29 Woodstock Avenue London NW11 9RG
The trustees
Rabbi G B Knopfler Mr M Itzinger Independent examiner S Y Steinhaus FCA Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
Structure, governance and management
Governing document
The charity is governed by Trust Deed dated 29th January 2008.
Reserves
The charity retains sufficient reserves to enable it to distribute donations on a small scale regularly.
Risk management
The trustees confirm that there are no major risks to which the charity is exposed.
Grant making policy
The trustees are personally familiar with all institutions to which grants are made.
Objectives and activities
Public Benefit
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.
Objectives and activities
The objects of the charity are to obtain donations to be sent to Yeshivat Beis Hillel in Israel.
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Beis Hillel Trust
Trustees' Annual Report (continued)
Year ended 31 December 2020
Achievements and performance
During the year the charity donated most donations received to Yeshivat Beis Hillel in Israel. This is an educational institution concerned with the teaching of the jewish religion
Financial review
The trustees have increased the income during the year and are very satisfied with the results.
Plans for future periods
The trustees plan to continue the charities activities for the foreseeable future.
The trustees' annual report was approved on 29 March 2022 and signed on behalf of the board of trustees by:
Mr M Itzinger Trustee
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Beis Hillel Trust
Independent Examiner's Report to the Trustees of Beis Hillel Trust
Year ended 31 December 2020
I report to the trustees on my examination of the financial statements of Beis Hillel Trust ('the charity') for the year ended 31 December 2020.
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.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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.
S Y Steinhaus FCA Independent Examiner Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
29 March 2022
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Beis Hillel Trust
Statement of Financial Activities
Year ended 31 December 2020
| 2020 | 2020 | 2019 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 423,172 | 423,172 | 272,292 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 423,172 | 423,172 | 272,292 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 401,717 | 401,717 | 267,848 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 401,717 | 401,717 | 267,848 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net income and net movement in funds | 21,455 | 21,455 | 4,444 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 4,822 | 4,822 | 378 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 26,277 | 26,277 | 4,822 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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 10 form part of these financial statements.
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Beis Hillel Trust
Statement of Financial Position
31 December 2020
| 2020 | 2019 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 26,877 | 5,362 | ||
| Creditors: amounts falling due within one year | 10 | 600 | 540 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Net current assets | 26,277 | 4,822 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 26,277 | 4,822 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Net assets | 26,277 | 4,822 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Unrestricted funds | 26,277 | 4,822 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Total charity funds | 11 | 26,277 ৶৶৶৶৶৶৶৶ |
4,822 ৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 29 March 2022, and are signed on behalf of the board by:
Mr M Itzinger Trustee
The notes on pages 6 to 10 form part of these financial statements.
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Beis Hillel Trust
Notes to the Financial Statements
Year ended 31 December 2020
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 29 Woodstock Avenue, London, NW11 9RG.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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Notes to the Financial Statements (continued)
Beis Hillel Trust
Year ended 31 December 2020
3. Accounting policies (continued)
Incoming resources
All incoming resources are 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:
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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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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs 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.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation of good practice. The costs include costs related to statutory audit, direct governing costs.
Financial instruments
A financial asset or a financial liability is recognised only when the charity 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.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
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Beis Hillel Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2020
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2020 | Funds | 2019 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 423,172 | 423,172 | 272,292 | 272,292 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2020 | Funds | 2019 | |
| £ | £ | £ | £ | |
| Grants made | 400,690 | 400,690 | 266,900 | 266,900 |
| Support costs | 1,027 | 1,027 | 948 | 948 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 401,717 ৶৶৶৶৶৶৶৶৶ |
401,717 ৶৶৶৶৶৶৶৶৶ |
267,848 ৶৶৶৶৶৶৶৶৶ |
267,848 ৶৶৶৶৶৶৶৶৶ |
5. Expenditure on charitable activities by fund type
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Beis Hillel Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2020
6. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly Support costs | 2020 | 2019 | ||
| £ | £ | £ | £ | |
| Grants made | 400,690 | – | 400,690 | 266,900 |
| Governance costs | – | 1,027 | 1,027 | 948 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 400,690 | 1,027 | 401,717 | 267,848 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
7. Independent examination fees
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 600 | 540 |
| ৶৶৶৶ | ৶৶৶৶ |
8. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|
| 2020 | 2019 |
| £ | £ |
The average head count of employees during the year was Nil (2019: Nil).
No employee received employee benefits of more than £60,000 during the year (2019: 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
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 600 | 540 |
| ৶৶৶৶ | ৶৶৶৶ |
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Beis Hillel Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2020
11. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 | January 202 | 31 December | ||
| 0 | Income | Expenditure | 2020 | |
| £ | £ | £ | £ | |
| General funds | 4,822 | 423,172 | (401,717) | 26,277 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| At | At | |||
| 1 | January 201 | 31 December | ||
| 9 | Income | Expenditure | 2019 | |
| £ | £ | £ | £ | |
| General funds | 378 | 272,292 | (267,848) | 4,822 |
| ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2020 | |||
| £ | £ | |||
| Current assets | 26,877 | 26,877 | ||
| Creditors less than 1 year | (600) | (600) | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Net assets | 26,277 | 26,277 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Unrestricted | Total Funds | |||
| Funds | 2019 | |||
| £ | £ | |||
| Current assets | 5,362 | 5,362 | ||
| Creditors less than 1 year | (540) | (540) | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Net assets | 4,822 | 4,822 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
12. Analysis of net assets between funds
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