**REGISTERED CHARITY NUMBER: 1128099**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JANUARY 2024**
## **FOR**
## **SHAREI CHESED (LONDON)**
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
**SHAREI CHESED (LONDON)**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Statement of Financial Position**||5||
|**Statement of Cash Flows**||6||
|**Notes to the Statement of Cash Flows**||7||
|**Notes to the Financial Statements**|8|to|12|
## **SHAREI CHESED (LONDON)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 January 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The principal objectives of the charity are relief of poverty, sickness and infirmity amongst members of Jewish faith.
The charity aims to achieve this objective by providing grants and donations to:
1. Charitable entities that demonstrate the use of funds to achieve the above objective,
2. Individuals in need who qualify under the criteria set by the charity.
## **Significant activities**
The financial results of the charity's activities for the period ended 31 January 2024 are fully reflected in the attached financial statements together with the notes thereon.
The trustees are satisfied with the results and activities of the company for the year and do not anticipate any significant changes in the forthcoming year.
## **Public benefit**
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities. The aims of the charity for the public benefit are detailed in the Objectives and Activities section of the report
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity received £750,937 (2023: £420,280) in donations and grants during the year. The charity spent £864,933 (2023: £701,127) on charitable activities.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The charity receives its funding principally from entities and individuals from the wider Jewish community.
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are free reserve of the Charity, at a level which the Trustees think appropriate considering the future commitments of the Charity and the likely administrative costs of the charity next year.
## **FUTURE PLANS**
No changes in the modus operandi of the charity are envisaged.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a trust deed and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
## **Related parties**
Transactions with related parties are disclosed in the notes to the financial statement wherever necessary.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
**SHAREI CHESED (LONDON)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1128099
## **Principal address**
26 Clapton Common London E5 9BA
## **Trustees**
Y Fischer Mrs S Lew
## **Independent Examiner**
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 17 September 2024 and signed on its behalf by:
Y Fischer - Trustee
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHAREI CHESED (LONDON)**
## **Independent examiner's report to the trustees of Sharei Chesed (London)**
I report to the charity trustees on my examination of the accounts of Sharei Chesed (London) (the Trust) for the year ended 31 January 2024.
## **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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
M. A. VENITT, A.C.A The Institute of Chartered Accountants in England and Wales
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
17 September 2024
Page 3
## **SHAREI CHESED (LONDON)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
750,937
Investment income
3
1,783
**Total**
752,720
**EXPENDITURE ON**
Raising funds
4
12,137
**Charitable activities**
5
Religious grants
166,761
Relief of poverty
647,414
Health and social welfare
11,850
Advancement of education
10,180
Other charitable activities
28,728
Other
1,920
**Total**
878,990
**NET INCOME/(EXPENDITURE)**
(126,270)
**RECONCILIATION OF FUNDS**
Total funds brought forward
204,363
**TOTAL FUNDS CARRIED FORWARD**
78,093|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-|31.1.24
Total
funds
£
750,937
1,783
752,720
12,137
166,761
647,414
11,850
10,180
28,728
1,920
878,990
(126,270)
204,363
78,093|31.1.23
Total
funds
£
420,280
1,599
421,879
15,400
127,291
517,672
49,164
7,000
-
1,854
718,381
(296,502)
500,865
204,363|
|---|---|---|---|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 4
## **SHAREI CHESED (LONDON)**
## **STATEMENT OF FINANCIAL POSITION 31 JANUARY 2024**
|Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Cash at bank
80,193
**CREDITORS**
Amounts falling due within one year
10
(2,100)
**NET CURRENT ASSETS**
78,093
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
78,093
**NET ASSETS**
78,093
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-|31.1.24
Total
funds
£
80,193
(2,100)
78,093
78,093
78,093
78,093
78,093|31.1.23
Total
funds
£
206,343
(1,980)
204,363
204,363
204,363
204,363
204,363|
|---|---|---|---|
The financial statements were approved and authorised for issue by the Board of Trustees and authorised for issue on 17 September 2024 and were signed on its behalf by:
Y Fischer - Trustee
S Lew - Trustee
The notes form part of these financial statements
Page 5
## **SHAREI CHESED (LONDON)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2024**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Cash flows from investing activities**
Interest received
Net cash provided by investing 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**|31.1.24
£
(127,933)
(127,933)
1,783
1,783
(126,150)
206,343
80,193|31.1.23
£
(298,101)
(298,101)
1,599
1,599
(296,502)
502,845
206,343|
|---|---|---|
The notes form part of these financial statements
Page 6
## **SHAREI CHESED (LONDON)**
## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2024**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**
**ACTIVITIES**|**OPERATING**||
|---|---|---|
|**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Interest received
Increase in creditors
**Net cash used in operations**|31.1.24
£
(126,270)
(1,783)
120
(127,933)|31.1.23
£
(296,502)
(1,599)
-|
|||(298,101)|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.2.23|Cash flow|At 31.1.24|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|206,343|(126,150)|80,193|
||206,343|(126,150)|80,193|
|**Total**|206,343|(126,150)|80,193|
The notes form part of these financial statements
Page 7
**SHAREI CHESED (LONDON)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024**
## **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.
## **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.
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.
## **Governance costs**
Governance costs comprise the costs of statutory compliance and relate exclusively to the independent examiner's remuneration detailed in these accounts.
## **Taxation**
The charity is exempt from 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.
## **2. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||31.1.24|31.1.23|
||£|£|
|Donations|750,937|420,280|
continued...
Page 8
## **SHAREI CHESED (LONDON)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
## **3. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||31.1.24|31.1.23|
||£|£|
|Deposit account interest|1,783|1,599|
|**RAISING FUNDS**|||
|**Raising donations and legacies**|||
||31.1.24|31.1.23|
||£|£|
|Telephone|2,006|1,571|
|Postage and stationery|10,131|11,186|
|Dinner event|-|2,643|
||12,137|15,400|
## **4. RAISING FUNDS Raising donations and legacies**
## **5. CHARITABLE ACTIVITIES COSTS**
|Religious grants
Relief of poverty
Health and social welfare
Advancement of education
Other charitable activities
**GRANTS PAYABLE**
Religious grants
Relief of poverty
Health and social welfare
Advancement of education|Direct
Costs
£
37,844
-
11,850
10,180
28,211
88,085|Grant
funding of
activities
(see note
6)
£
128,917
647,414
-
-
-
776,331|Support
costs (see
note 7)
£
-
-
-
-
517
517
31.1.24
£
128,917
647,414
-
-
776,331|Totals
£
166,761
647,414
11,850
10,180
28,728|
|---|---|---|---|---|
|||||864,933|
|||||31.1.23
£
111,300
490,322
49,164
7,000|
|||||657,786|
## **6. GRANTS PAYABLE**
continued...
Page 9
**SHAREI CHESED (LONDON)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
## **7. SUPPORT COSTS**
|**SUPPORT COSTS**||||
|---|---|---|---|
|||Governance||
||Management|costs|Totals|
||£|£|£|
|Other resources expended|-|1,920|1,920|
|Other charitable activities|517|-|517|
||517|1,920|2,437|
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023.
## **9.**
## **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
420,280
Investment income
1,599
**Total**
421,879
**EXPENDITURE ON**
Raising funds
15,400
**Charitable activities**
Religious grants
127,291
Relief of poverty
517,672
Health and social welfare
49,164
Advancement of education
7,000
Other
1,854
**Total**
718,381
**NET INCOME/(EXPENDITURE)**
(296,502)
**RECONCILIATION OF FUNDS**
Total funds brought forward
500,865
**TOTAL FUNDS CARRIED FORWARD**
204,363|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
funds
£
420,280
1,599
421,879
15,400
127,291
517,672
49,164
7,000
1,854
718,381
(296,502)
500,865
204,363|
|---|---|---|
continued...
Page 10
**SHAREI CHESED (LONDON)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
|**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**11.**
**MOVEMENT IN FUNDS**
At 1.2.23
£
**Unrestricted funds**
General fund
204,363
**TOTAL FUNDS**
204,363
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
752,720
**TOTAL FUNDS**
752,720
**Comparatives for movement in funds**
At 1.2.22
£
**Unrestricted funds**
General fund
500,865
**TOTAL FUNDS**
500,865
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
421,879
**TOTAL FUNDS**
421,879|31.1.24
31.1.23
£
£
2,100
1,980
Net
movement
At
in funds
31.1.24
£
£
(126,270)
78,093
(126,270)
78,093
Resources
Movement
expended
in funds
£
£
(878,990)
(126,270)
(878,990)
(126,270)
Net
movement
At
in funds
31.1.23
£
£
(296,502)
204,363
(296,502)
204,363
Resources
Movement
expended
in funds
£
£
(718,381)
(296,502)
(718,381)
(296,502)|
|---|---|
continued...
Page 11
**SHAREI CHESED (LONDON)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024**
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.2.22
£
500,865
500,865|Net
movement
in funds
£
(422,772)
(422,772)|At
31.1.24
£
78,093|
|---|---|---|---|
||||78,093|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,174,599|(1,597,371 )|(422,772)|
|**TOTAL FUNDS**|1,174,599|(1,597,371 )|(422,772)|
## **12. RELATED PARTY DISCLOSURES**
During the period Sharei Chesed (London) paid a donation to Inspirations that amounted to £5,000 (2023: £nil). Sharei Chesed (London) and Inspirations share a common trustee.
Page 12