REGISTERED CHARITY NUMBER: 1123159
BEIS HILLEL TRUST
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
BEIS HILLEL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Cash Flow Statement | 7 | ||
| Notes to the Cash Flow Statement | 8 | ||
| Notes to the Financial Statements | 9 | to | 12 |
BEIS HILLEL TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022
TRUSTEES Rabbi G B Knopfler M Itzinger PRINCIPAL ADDRESS 29 Woodstock Avenue London NW11 9RG REGISTERED CHARITY 1123159 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS Barclays Bank Plc Enfield London
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BEIS HILLEL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees 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).
REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are the advancement of orthodox Jewish education amongst members of the Jewish faith throughout the world and such other charitable purposes (recognised by English law) as the trustees may from time to time determine.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
Grant policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity receives its income from donations which rose by nearly a third. The trustees increased grantmaking by almost 70% which left a deficit for the year being funded from reserves held.
FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £12,073 ( 2021 - £80,393).
FUTURE PLANS
The charity plans to continue its activities for the foreseeable future subject to satisfactory income.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitution
The charity was is governed by a Trust Deed dated 29 January 2008.
Recruitment and appointment of new trustees
The day-to-day affairs of the company are administered by the trustees. The power to appoint new trustees is vested in the board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees 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).
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BEIS HILLEL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity 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 charity 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 charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 12 October 2023 and signed on its behalf by:
M Itzinger - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEIS HILLEL TRUST
Independent examiner's report to the trustees of Beis Hillel Trust
I report to the charity trustees on my examination of the accounts of Beis Hillel Trust (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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 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 Trust as required by Section 130 of the 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 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.
E Meyer FCA BSc
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
12 October 2023
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BEIS HILLEL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 580,734 EXPENDITURE ON Charitable activities 2 Grantmaking 648,000 Support 1,054 Total 649,054 NET INCOME/(EXPENDITURE) (68,320) RECONCILIATION OF FUNDS Total funds brought forward 80,393 TOTAL FUNDS CARRIED FORWARD 12,073 |
2021 Total funds £ 437,861 |
|---|---|
| 382,537 1,207 |
|
| 383,744 | |
| 54,117 26,276 |
|
| 80,393 |
The notes form part of these financial statements
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BEIS HILLEL TRUST
BALANCE SHEET 31 DECEMBER 2022
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 7 Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 13,783 (1,710) 12,073 12,073 12,073 12,073 12,073 |
2021 Total funds £ 81,773 (1,380) 80,393 80,393 80,393 80,393 80,393 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 October 2023 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
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BEIS HILLEL TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating 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 £ (67,990) (67,990) (67,990) 81,773 13,783 |
2021 £ 54,897 |
|---|---|---|
| 54,897 | ||
| 54,897 26,876 |
||
| 81,773 |
The notes form part of these financial statements
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BEIS HILLEL TRUST
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 | ||
|---|---|---|
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Increase in creditors Net cash (used in)/provided by operations |
2022 £ (68,320) 330 (67,990) |
2021 £ 54,117 780 |
| 54,897 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.22 Cash flow At £ £ Net cash Cash at bank 81,773 (67,990) 81,773 (67,990) Total 81,773 (67,990) |
31.12.22 £ 13,783 13,783 13,783 |
|---|---|
The notes form part of these financial statements
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BEIS HILLEL TRUST
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 charity, 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 Charities Act 2011. 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. Income received by way of donations is accounted for when received.
Expenditure
Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. CHARITABLE ACTIVITIES COSTS
| Grantmaking Support |
Grant funding of activities (see note 3) £ 648,000 - 648,000 |
Support costs (see note 4) £ - 1,054 1,054 |
Totals £ 648,000 1,054 |
|---|---|---|---|
| 649,054 |
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BEIS HILLEL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
3. GRANTS PAYABLE
| Grantmaking The total grants paid to institutions during the year was as follows: Advancement of education All grants were paid to Yeshivas Beis Hillel. |
2022 £ 648,000 2022 £ 648,000 |
2021 £ 382,537 |
|---|---|---|
| 2021 £ 382,537 |
||
4. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Support | 124 | 930 | 1,054 |
| Support costs, included in the above, are as follows: | |||
| Finance | |||
| 2022 | 2021 | ||
| Total | |||
| Support | activities | ||
| £ | £ | ||
| Bank charges | 124 | 427 | |
| Governance costs | |||
| 2022 | 2021 | ||
| Total | |||
| Support | activities | ||
| £ | £ | ||
| Independent examiner's fee | 480 | 390 | |
| Independent examiner's other fees | 450 | 390 | |
| 930 | 780 |
5. 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.
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BEIS HILLEL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 80,393 TOTAL FUNDS 80,393 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 580,734 TOTAL FUNDS 580,734 |
2022 2021 £ £ 1,710 1,380 Net movement At in funds 31.12.22 £ £ (68,320) 12,073 (68,320) 12,073 Resources Movement expended in funds £ £ (649,054) (68,320) (649,054) (68,320) |
|---|---|
Comparatives for movement in funds
| At 1.1.21 £ Unrestricted funds General fund 26,276 TOTAL FUNDS 26,276 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 437,861 TOTAL FUNDS 437,861 |
Net movement At in funds 31.12.21 £ £ 54,117 80,393 54,117 80,393 Resources Movement expended in funds £ £ (383,744) 54,117 (383,744) 54,117 |
|---|---|
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BEIS HILLEL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
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