REGISTERED COMPANY NUMBER: 06494965 (England and Wales) REGISTERED CHARITY NUMBER: 1123578
CHABAD LUBAVITCH (LEEDS) LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
CHABAD LUBAVITCH (LEEDS) LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
| 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 to | 7 |
| Notes to the Financial Statements | 8 to | 13 |
CHABAD LUBAVITCH (LEEDS) LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 29 FEBRUARY 2024
TRUSTEES Rabbi Y A J Angyalfi Mrs S J G Angyalfi Rabbi R Z Cohen Mr H A Bell Rabbi M Danow COMPANY SECRETARY Rabbi Y A J Angyalfi REGISTERED OFFICE 168 Shadwell Lane Leeds West Yorkshire LS17 8AD REGISTERED COMPANY 06494965 (England and Wales) NUMBER REGISTERED CHARITY 1123578 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS Handelsbanken Lawnswood Business Park Leeds LS16 6QY
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CHABAD LUBAVITCH (LEEDS) LIMITED (REGISTERED NUMBER: 06494965)
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).
REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.
Objects and Aims
The objects of the charity are to advance and promote and provide facilities for the practice of the Jewish Religion in accordance with Orthodox Jewish tenants and the relief of poverty.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
Vision and Activities
Chabad Lubavitch is a philosophy, a movement, and an organisation. It is considered to be the most dynamic force in Jewish life today.
The origins of today's Chabad-Lubavitch organisation can be traced to the early 1950s, when the seventh Lubavitcher Rebbe, Rabbi Menachem Mendel Schneerson took the helm of the movement, to head the newly founded educational and social service arms of the movement.
Chabad Lubavitch (Leeds) Ltd runs educational and social programs that are infused with the Rebbe's message of profound love and a non-judgemental approach for everyone created in the image of G-d.
There is an especial stress on reaching out to those who are disadvantaged whether through a lack of education, life experiences or circumstances beyond their control.
We cater to all ages from the very young to the elderly to make sure that they are getting the best support that we can provide them, while empowering those who are in a position to help, to stand up and make a difference.
We run Mini Camps during half terms and a Summer Camp to provide children with safe, fun and educational environments during their breaks.
Our Friendship Circle is an initiative to extend a helping hand to children who have additional needs, involving the children in a variety of social experiences and activities.
Our Smile on Seniors, Shabbat Dinner Packs and Aruchot programs provide support for the elderly and vulnerable and people who struggling with the cost-of-living crisis, where they can sign up for a visit, or a hot nutritious dinner that is delivered once a week.
It has been an exciting year of growth for Chabad Lubavitch (Leeds) Ltd. The highlight has been the arrival of Rabbi Sholem and Mrs Devorah Leah Kalmenson and their young son Mendel as Directors of CKids. They have quickly captured the hearts of the community. They have expanded our provision of children's activities including the innovation of a new cooking club and a new JewQ chapter. They have great plans for further expansion of our after-school club and camps and we look forward to supporting their work.
Another highlight has been the development of our Shabbat Dinner Packs. During COVID-19 we were at the forefront of providing communal support. After the pandemic, we found many people still struggling, especially as the cost-of-living crisis took hold. The elderly Jewish community in Leeds are often alone. They've been impacted more than other communities as the younger generation have moved to larger Jewish communities and their parents are left without familial support to bring them food or to invite them for dinner. There's also a gap in kosher provision for the vulnerable in the Jewish community and the cost-of-living crisis is affecting the whole community, not just the elderly. Foodbanks don't offer kosher food and there are no kosher meals on wheels or similar service.
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CHABAD LUBAVITCH (LEEDS) LIMITED (REGISTERED NUMBER: 06494965)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024
We've seen a steady increase in people requesting our food packages. The packages include chicken or vegetable soup; chicken or salmon; rice; bread rolls and fruit juice. There's no charge for the packages or for delivery and everything is cooked, baked, packed and delivered by our volunteers.
We were fortunate to be accepted on an Enterprise Development Program and we are grateful for the funding and mentoring we received on the program.
Other highlights include the expanding work of the Friendship Circle, supporting children and adults with additional needs and the workshops on Jewish festivals that we run in school for the youth, raising awareness about Jewish practices and combating antisemitism.
ACHIEVEMENT AND PERFORMANCE
Review of activities
The trustees are satisfied with the results of the year.
FINANCIAL REVIEW
Reserves policy
The trustees aim is to hold two months liquid reserves to cover normal activities. Free reserves at the year end were £11,900 (2023 - £7,091).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitution
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 6 February 2008.
Recruitment and appointment of new 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.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 23 December 2024 and signed on its behalf by:
Rabbi Y A J Angyalfi - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHABAD LUBAVITCH (LEEDS) LIMITED
Independent examiner's report to the trustees of Chabad Lubavitch (Leeds) Limited ('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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
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.
E Meyer FCA BSc
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
23 December 2024
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CHABAD LUBAVITCH (LEEDS) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 29 FEBRUARY 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 68,786 Investment income 3 241 Total 69,027 EXPENDITURE ON Charitable activities 4 Religious & social programmes 69,952 Support 10,801 Total 80,753 NET INCOME/(EXPENDITURE) (11,726) RECONCILIATION OF FUNDS Total funds brought forward 394,968 TOTAL FUNDS CARRIED FORWARD 383,242 |
Restricted fund £ 9,910 - 9,910 3,717 - 3,717 6,193 - 6,193 |
2024 Total funds £ 78,696 241 78,937 73,669 10,801 84,470 (5,533) 394,968 389,435 |
2023 Total funds £ 17,895 11 17,906 20,358 5,002 25,360 (7,454) 402,422 394,968 |
|---|---|---|---|
The notes form part of these financial statements
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CHABAD LUBAVITCH (LEEDS) LIMITED (REGISTERED NUMBER: 06494965)
BALANCE SHEET 29 FEBRUARY 2024
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 14 NET ASSETS FUNDS 18 Unrestricted funds: General fund Restricted funds: Restricted fund TOTAL FUNDS |
2024 £ 701,768 298 12,846 13,144 (150,477) (137,333) 564,435 (175,000) 389,435 383,242 6,193 389,435 |
2023 £ 700,543 - 7,211 7,211 (137,786) (130,575) 569,968 (175,000) 394,968 394,968 - 394,968 |
|---|---|---|
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
-
(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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CHABAD LUBAVITCH (LEEDS) LIMITED (REGISTERED NUMBER: 06494965)
BALANCE SHEET - continued 29 FEBRUARY 2024
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 23 December 2024 and were signed on its behalf by:
Rabbi Y A J Angyalfi - Trustee
The notes form part of these financial statements
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CHABAD LUBAVITCH (LEEDS) LIMITED
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
Income received by way of donations is accounted for when received.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
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.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
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.
Going concern
There are no material uncertainties about the charity's ability to continue.
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CHABAD LUBAVITCH (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
2. DONATIONS AND LEGACIES
| 2024 Unrestricted Restricted Total funds funds funds £ £ £ Donations 29,683 - 29,683 Grants 39,103 9,910 49,013 68,786 9,910 78,696 Grants received, included in the above, are as follows: 2024 £ Other grants 49,013 3. INVESTMENT INCOME 2024 Unrestricted Restricted Total funds funds funds £ £ £ Deposit account interest 241 - 241 4. CHARITABLE ACTIVITIES COSTS Grant funding of Direct activities Support Costs (see (see note costs (see note 5) 6) note 7) £ £ £ Religious & social programmes 62,493 11,176 - Support 9,727 - 1,074 72,220 11,176 1,074 5. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 £ Religious & social programmes 33,564 Property running costs 11,829 Support costs 10,317 Wages 16,510 72,220 |
2023 Total funds £ 631 17,264 |
2023 Total funds £ 631 17,264 |
|---|---|---|
| 17,895 | ||
| 2023 £ 17,264 |
||
| 2023 Total funds £ 11 Totals £ 73,669 10,801 |
2023 Total funds £ 11 |
|
| 84,470 | ||
| 2023 £ 10,839 3,865 5,182 - |
||
| 19,886 |
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CHABAD LUBAVITCH (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
6. GRANTS PAYABLE
| GRANTS PAYABLE | |||
|---|---|---|---|
| Religious & social programmes The total grants paid to institutions during the year was as follows: Advancement of education The grant was made to Chabad Lubavitch (UK). |
2024 £ 11,176 2024 £ 2,400 |
2023 £ 5,000 |
|
| 2023 £ 5,000 |
|||
7. SUPPORT COSTS
8.
| SUPPORT COSTS | ||
|---|---|---|
| Governance | ||
| costs | ||
| £ | ||
| Support | 1,074 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2024 | 2023 | |
| £ | £ | |
| Depreciation - owned assets | 590 | 180 |
9. 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.
10. AVERAGE STAFF NUMBERS
The average number of staff in the year was 2 (2023 - Nil)
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CHABAD LUBAVITCH (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
11. TANGIBLE FIXED ASSETS
| 11. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Fixtures | |||||
| Freehold | and | ||||
| property | fittings | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 March 2023 | 700,000 | 20,314 | 720,314 | ||
| Additions | - | 1,815 | 1,815 | ||
| At 29 February 2024 | 700,000 | 22,129 | 722,129 | ||
| DEPRECIATION | |||||
| At 1 March 2023 | - | 19,771 | 19,771 | ||
| Charge for year | - | 590 | 590 | ||
| At 29 February 2024 | - | 20,361 | 20,361 | ||
| NET BOOK VALUE | |||||
| At 29 February 2024 | 700,000 | 1,768 | 701,768 | ||
| At 28 February 2023 | 700,000 | 543 | 700,543 | ||
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Other debtors | 298 | - | |||
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Bank loans and overdrafts (see note 15) | 149,531 | 137,666 | |||
| Other creditors | 226 | - | |||
| Accruals and deferred income | 720 | 120 | |||
| 150,477 | 137,786 | ||||
| 14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE | YEAR | |||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Bank loans (see note 15) | 175,000 | 175,000 |
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CHABAD LUBAVITCH (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
15. LOANS
An analysis of the maturity of loans is given below:
| Amounts falling due within one year on demand: Bank overdrafts Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal SECURED DEBTS The following secured debts are included within creditors: Bank overdrafts Bank loans |
2024 £ 149,531 125,000 50,000 2024 £ 149,531 175,000 324,531 |
2023 £ 137,666 |
|---|---|---|
| 125,000 | ||
| 50,000 2023 £ 137,666 175,000 |
||
| 312,666 |
16. SECURED DEBTS
The bank overdraft and loans are secured by legal charges over the charity's freehold property.
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted fund £ Fixed assets 701,768 Current assets 6,951 Current liabilities (150,477) Long term liabilities (175,000) 383,242 MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Restricted fund £ - 6,193 - - 6,193 At 1.3.23 £ 394,968 - 394,968 |
2024 Total funds £ 701,768 13,144 (150,477) (175,000) 389,435 Net movement in funds £ (11,726) 6,193 (5,533) |
2023 Total funds £ 700,543 7,211 (137,786) (175,000) |
|---|---|---|---|
| 394,968 | |||
| At 29.2.24 £ 383,242 6,193 |
|||
| 389,435 |
18. MOVEMENT IN FUNDS
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CHABAD LUBAVITCH (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 69,027 | (80,753) | (11,726) | |
| Restricted funds | ||||
| Restricted fund | 9,910 | (3,717) | 6,193 | |
| TOTAL FUNDS | 78,937 | (84,470) | (5,533) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.3.22 | in funds | 28.2.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 402,422 | (7,454) | 394,968 | |
| TOTAL FUNDS | 402,422 | (7,454) | 394,968 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 17,906 | (25,360) | (7,454) | |
| TOTAL FUNDS | 17,906 | (25,360) | (7,454) |
19. RELATED PARTY DISCLOSURES
The charity made a donation of £2,400 (2023 - 5,000) to another charity with a trustee in common.
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