Y.M.C. CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
CHARITY NUMBER 1123734
Y.M.C.CHARITY
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Contents
| Trustees Report | 3 |
|---|---|
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9 |
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Y.M.C.CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees have pleasure in presenting their report and the financial statements of the charitable trust for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' 2005 in preparing the financial statements of the Charity
REFERENCE AND ADMINISTRATIVE DETAIL
| Trustees | Ahron Bernstein |
|---|---|
| Simon Ellinson | |
| Sarah Ellinson | |
| Chief Executive Officer | Simon Ellinson |
| Correspondent | Simon Ellinson |
| Charity Address | 13 Fort Road |
| Prestwich | |
| M25 0HA | |
| Charity Number | 1123734 |
| Accountants | B Olsberg & Co |
| Enterprise House | |
| 3 Middleton Road | |
| Manchester | |
| M8 5DT | |
| Independent Examiners | B Olsberg & Co |
| Enterprise House | |
| 3 Middleton Road | |
| Manchester | |
| M8 5DT |
OBJECTIVES OF Y M C CHARITY
YMC Charity is constituted by trust deed dated 1 November 2007 and its objects are:
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(a) to promote advance and provide strictly Orthodox Jewish education and to generally further promote all activities in connection therewith
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(b) to promote and advance religion in accordance with the doctrines and principles of orthodox Judaism.
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(c) to promote the relief of poverty amongst persons of the Jewish faith.
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(d) to further such other charitable purposes which the trustees may determine are connected with the above clauses.
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Y.M.C.CHARITY
LEGAL STATUS
The charitable trust is constituted by trust deed dated 1 November 2007 which has not been amended.
TRUSTEES
The trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission.
The board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
TRUSTEES INDUCTION AND TRAINING
Most trustees are already familiar with the practical work of the charity having received guidance from the existing trustees prior to appointment. New trustees are further encouraged to attend training sessions organised by the charity.
PRINCIPAL ACTIVITY AND REVIEW OF THE YEAR
The principal activity of the Charity in the year under review was raising funds from donations for the purposes of enabling and supporting students to further their research and education in Jewish Religious subjects, as well as providing for the needy.
PUBLIC BENEFIT
The trustees confirm that they have referred to guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance when reviewing the charity’s aims and objectives and in planning future activities.
ORGANISATION
The charity is managed by a committee of the trustees of the charity.
INVESTMENT POWERS AND RESTRICTIONS
The trustees are authorised to make and hold investments using the general fund of the charity.
REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS
The financial statements for the year show a net income of £2,677 (2021 – £9,311). The trustees consider the financial position of the charity to be satisfactory, on the basis of substantial retained reserves.
The financial statements conform to current statutory requirements and comply with the Charity's governing documents.
RESERVES POLICY
The charity was holding reserves at the year end to cover future grants and donations.
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Y.M.C.CHARITY
REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS
YMC Charity received donations of £553,603 and rents £16,570 and paid out grants therefrom of £565,387. Administrative expenses were £4,109 and the income for the year was £2,677.
RESPONSIBILITIES OF THE TRUSTEES
The Charities Act 2011 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 at the end of the year and of the net incoming or outgoing resources for the year then ended.
In preparing those financial statements, the trustees are required to select suitable accounting policies, as described on page 9, and then apply them on a consistent basis, making judgements and estimates that are reasonable and prudent. The trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will be able to continue.
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 trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the detection of fraud and other irregularities.
SIGNED ON BEHALF OF THE TRUSTEES:
……………………………………………… A Bernstein – Trustee
Dated: 18 January 2023
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Y.M.C.CHARITY
Independent examiners’ report to the Trustees of Y.M.C Charity
I report on the accounts of the Trust for the year ended 31 March 2022 which are set out on pages 7-10.
Respective responsibilities of trustees and examiner
The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The Charity is preparing accrued accounts and I am qualified to undertake the examination by being a member of the Institute of Chartered Accountants England &Wales.
It is my responsibility to:
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(i) examine the accounts under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with s. 130 of the Charities Act 2011; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
B Olsberg FCA B Olsberg & Co Enterprise House 3 Middleton Road Manchester M8 5DT
18 January 2023
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Y.M.C.CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Income and Expenditure Income Donations Rent Resources Expended Direct charitable expenditure Grants Administrative Repairs Telephone Insurance Bank Charges Accountancy Independent Examiner’s Report Loan Interest Total Resources Expended Income for the year Balance brought forward Fund balance as at 31 March 2022 |
Note 2 |
2022 UNRESTRICTED £ 553,603 16,570 570,173 563,387 998 216 465 883 720 120 707 4,109 567,496 2,677 143,578 146,255 |
2021 £ 537,483 14,680 |
|---|---|---|---|
| 552,163 | |||
| 539,256 | |||
| 1,346 278 503 629 720 120 - |
|||
| 3,596 | |||
| 542,852 | |||
| 9,311 134,267 |
|||
| 143,578 |
The notes form part of the financial statements.
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Y.M.C.CHARITY
BALANCE SHEET AS AT 31 MARCH 2022
| NOTE Fixed Assets 4 Current Assets Bank Debtors CREDITORS: Payable within 1 year 5 Net Current Assets Payable after 1 year Represented by: Unrestricted Funds |
2022 £ 168,501 9,210 1,617 10,827 (990) 9,837 178,338 (32,083) 146,255 146,255 |
2021 £ 168,501 12,089 - 12,089 (2,012) 10,077 178,578 (35,000) 143,578 143,578 |
2021 £ 168,501 12,089 - 12,089 (2,012) 10,077 178,578 (35,000) 143,578 143,578 |
|---|---|---|---|
| 10,077 | |||
| 178,578 (35,000) |
|||
| 143,578 | |||
| 143,578 |
Signed on behalf of the board of trustees
____ A Bernstein Trustee Date 18 January 2023
The notes form part of these accounts.
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Y.M.C.CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1 . ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and comply with the Statement of Recommended Practice 2005 'Accounting and Reporting by Charities'.
Incoming Resources
Voluntary income is received by way of donations and gifts and is included gross in the Statement of Financial Activities.
Unrestricted Fund
Unrestricted funds are donations and other income received or generated for the charitable purposes.
Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Depreciation
Property is not depreciated as it is being held as investment which is in accordance with SSAP19
Management and administration
Management and administration costs of the charity relate to the central costs of management including the costs of meetings, independent examiners fees and statutory compliance.
2. DIRECT CHARITABLE EXPENDITURE
£
Grants to students and college 563,387
3. STAFF COSTS
There were no staff costs
All administration of the trust was carried out gratuitously by the trustees.
The trust did not use any unpaid volunteers. No trustee received or waived any remuneration during the year.
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Y.M.C.CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Cont…………
| 4. 5. |
FIXED ASSETS Investment Property £ COST As at 31 March 2021 And 31 March 2022 168,351 CREDITORS Payable within one year Accruals Loans |
Office Equipment £ 150 2022 £ 840 150 990 |
2021 £ 1,862 150 2,012 |
TOTAL 168,501 |
|---|---|---|---|---|
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