REGISTERED COMPANY NUMBER: 06927223 (England and Wales) REGISTERED CHARITY NUMBER: 1130334
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
THE BRIDGE LANE BETH HAMEDRASH
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
THE BRIDGE LANE BETH HAMEDRASH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 10 |
THE BRIDGE LANE BETH HAMEDRASH (REGISTERED NUMBER: 06927223)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
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 31 March 2021. 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 objectives of the charity are to promote religious worship in accordance with the Jewish faith, to promote the study of the Jewish religion, the advancement of the Jewish faith and the advancement of such other charitable purposes as the directors may from time to time determine.
The main activities for the year were to obtain donations from individuals and institutions and utilise these funds to enable the charity to pursue its objectives.
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
The charity is satisfied with its overall achievements and performance during the year and has continued to meet its objectives.
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.
Covid 19
The Trustees have considered the potential impact of the Covid-19 pandemic, which has been spreading since early 2020, on the Charity's activities. Like many other charities, the outbreak has caused some disruption to the Charity. The Trustees have taken appropriate action to follow government guidance on religious events and to mitigate the effects of Covid-19 on the finances of the charity. The Trustees are confident that the Charity has adequate reserves and resources to continue its operations for the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a registered charity and a company limited by guarantee, established by the company's Memorandum and Articles of Association dated 8 June 2009.
None of the directors has any beneficial interest in the company. All of the directors are members of the company and guarantee to contribute £1 in the event of a winding up.
When vacancies occur on the Board of Directors, new directors are recruited locally and through advertising (where appropriate) stating skills that are needed on the Board of Directors. The Charity is governed by a Board of Directors, which currently has four members. The directors are responsible for the overall management policy of the fund and for the development of the fundraising and appropriation of benefits. The directors do not consider there to be any connected charities. The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to manage exposure to the major risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06927223 (England and Wales)
Registered Charity number
1130334
Page 1
THE BRIDGE LANE BETH HAMEDRASH (REGISTERED NUMBER: 06927223)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021
Registered office
44 Bridge Lane London NW11 0EG
Trustees
Judge A J Morris Mr H Ganz Mr S Benaim Mr M Roth
Independent Examiner
Aryeh Melinek, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 13 July 2021 and signed on its behalf by:
................................................................. Mr H Ganz - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRIDGE LANE BETH HAMEDRA5H (REGISTERED NUMBER: 06927223) Independent examiner'5 report to the trustees of The Bridge Lane Beth Hamedrash ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. Responsibilities and basis of report As the charity's trustees of the Company land also Its dlrectors for the purposesof company lawl you are responsible for the preparation of the accounts in accordance with the requlrements 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 ellgible for independent examination, I report in respect of rny examinatK)n of your charivs accountg as carried out under section 145 of the Charities Act 20111.the 2011 Art'l. In carrying out rny examination I have followed the Dirertions gpien by the Charity Commission under stIOn 14515) {bl ol the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to rny attention in connection with the examination glving me cause to belleve.. accounting records were not kept in respect of the Company as requlred by settlon 386 of the 2006 Act; or the occounts Ib tK)t accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Art other than any requirement that the accounts give a true a1 fair view which is not a matter considered as part of an independent examination. or the account5 have not been prepared in accordance with the methods and principles of the Statement of Recomrnenikd Prartice for accountlng and reportlng by charltSes (applicable to charlties preparlng thelr accounts In accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021). I have no COnrn5 and have come rO$S nts other matters in connection wh the examinatk)n to which attentlon should be drawn in this reFort in order to enable a proper understsnding of the accounts lo be reathed. Aryeh Melinek, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 IDH Date.. Page 3
THE BRIDGE LANE BETH HAMEDRASH
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 129,461 910 Membership and rental income 2 92,216 - Investment income 3 - - Total 221,677 910 EXPENDITURE ON Charitable activities Wages and staff costs 147,696 - Synagogue running costs 61,332 13,341 Events 7,469 - Total 216,497 13,341 NET INCOME/(EXPENDITURE) 5,180 (12,431) RECONCILIATION OF FUNDS Total funds brought forward 250,843 453,723 TOTAL FUNDS CARRIED FORWARD 256,023 441,292 |
2021 Total funds £ 130,371 92,216 - 222,587 147,696 74,673 7,469 229,838 (7,251) 704,566 697,315 |
2020 Total funds £ 173,639 105,701 15 279,355 198,620 92,500 31,390 322,510 (43,155) 747,721 704,566 |
|---|---|---|
The notes form part of these financial statements
Page 4
THE BRIDGE LANE BETH HAMEDRASH (REGISTERED NUMBER: 06927223)
BALANCE SHEET
31 MARCH 2021
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
2021 £ 669,578 500 48,616 49,116 (21,379) 27,737 697,315 697,315 256,023 441,292 697,315 |
2020 £ 695,445 1,000 19,905 20,905 (11,784) 9,121 704,566 704,566 250,843 453,723 704,566 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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
(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.
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 13 July 2021 and were signed on its behalf by:
............................................. Mr H Ganz - Trustee
The notes form part of these financial statements
Page 5
THE BRIDGE LANE BETH HAMEDRASH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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
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 are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include legal advice for trustees and costs associated with meeting constitutional and statutory requirements such as the cost of trustees meetings and the preparation of statutory accounts.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Plant and machinery - 2% on cost Fixtures and fittings - 10% 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.
The restriction pertains to the freehold property.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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THE BRIDGE LANE BETH HAMEDRASH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 2. MEMBERSHIP AND RENTAL INCOME Membership Seat, hall and locker rental 3. INVESTMENT INCOME Interest receivable 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2021 £ 84,807 7,409 92,216 2021 £ - 2021 £ 25,867 |
2020 £ 81,702 23,999 105,701 2020 £ 15 2020 £ 27,175 |
|
|---|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Number of administrative staff No employees received emoluments in excess of £60,000. 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 172,560 Membership and rental income 105,701 Investment income - Total 278,261 EXPENDITURE ON Charitable activities Wages and staff costs 198,620 Synagogue running costs 79,159 Events 31,390 |
2021 2 Restricted fund £ 1,079 - 15 1,094 - 13,341 - |
2020 2 Total funds £ 173,639 105,701 15 279,355 198,620 92,500 31,390 |
|
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continued...
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THE BRIDGE LANE BETH HAMEDRASH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted |
Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| Total | 309,169 | 13,341 | 322,510 | ||
| NET INCOME/(EXPENDITURE) | (30,908) | (12,247) | (43,155) | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 281,751 | 465,970 | 747,721 | ||
| TOTAL FUNDS CARRIED FORWARD | 250,843 | 453,723 | 704,566 | ||
| 8. | FUND TRANSFERS | ||||
| Fund transfer relates to restricted funds spent on balance sheet items and have no | further | restrictions and therefore | |||
| can be transferred to unrestricted funds. |
| 9. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 April 2020 and 31 March 2021 667,062 DEPRECIATION At 1 April 2020 125,666 Charge for year 13,341 At 31 March 2021 139,007 NET BOOK VALUE At 31 March 2021 528,055 At 31 March 2020 541,396 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors |
Fixtures Plant and and machinery fittings Totals £ £ £ 37,850 297,844 1,002,756 1,491 180,154 307,311 757 11,769 25,867 2,248 191,923 333,178 35,602 105,921 669,578 36,359 117,690 695,445 2021 2020 £ £ 500 1,000 |
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continued...
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THE BRIDGE LANE BETH HAMEDRASH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Pension Other creditors |
2021 £ 7,500 2,274 324 11,281 21,379 |
2020 £ 818 2,434 325 8,207 11,784 |
|---|---|---|
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted fund £ Fixed assets 235,267 Current assets 42,135 Current liabilities (21,379) 256,023 13. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Restricted fund £ 434,311 6,981 - 441,292 At 1.4.20 £ 250,843 453,723 704,566 Incoming resources £ 221,677 910 222,587 |
2021 Total funds £ 669,578 49,116 (21,379) 697,315 Net movement in funds £ 5,180 (12,431) (7,251) Resources expended £ (216,497) (13,341) **(229,838) ** |
2020 Total funds £ 695,445 20,905 (11,784) 704,566 At 31.3.21 £ 256,023 441,292 697,315 Movement in funds £ 5,180 (12,431) **(7,251) ** |
|---|---|---|---|
continued...
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THE BRIDGE LANE BETH HAMEDRASH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.19 £ Unrestricted funds General fund 281,751 Restricted funds Restricted fund 465,970 TOTAL FUNDS 747,721 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 278,261 Restricted funds Restricted fund 1,094 TOTAL FUNDS 279,355 |
Net movement At in funds 31.3.20 £ £ (30,908) 250,843 (12,247) 453,723 (43,155) 704,566 Resources Movement expended in funds £ £ (309,169) (30,908) (13,341) (12,247) (322,510) (43,155) |
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14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
15. FINANCIAL INSTRUMENTS
The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit or loss.
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