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2021-03-31-accounts

REGISTERED CHARITY NUMBER: 1130608

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

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Raffingers LLP, Statutory Auditor Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

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CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2021

Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 17

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REPORT OF THE TRUSTEES for the year ended 31 March 2021

The trustees 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 Start Upright are to act as a resource for young people in London by providing advice and assistance.

The charity involves itself in helping young people by developing their skills, advancing their education and relieving unemployment. The charity also assists people that are disadvantaged by way of poor social and economic circumstances with the view to improve the conditions of such persons.

The charity also promotes any other exclusively charitable objects and purposes such as the trustees see fit, provided that they are regarded as charitable by the law of England and Wales.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and 'The Advancement of Religion for the Public Benefit' in particular, when reviewing the aim and objectives and in planning the charity's future activities.The aims of the charitable company for the public benefit are detailed in the 'Objectives and Activities' section of this report and the main activities undertaken in order to carry out the charitable company's aims for the public benefit are outlined under 'Achievements and Performance' below.

Grantmaking

The trustees support charities whose Objects are in line with the Objects of this charity. The charity accepts any grant application subject to the trustees' review. Financial help is then given according to circumstances and funds then available.

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REPORT OF THE TRUSTEES for the year ended 31 March 2021

ACHIEVEMENT AND PERFORMANCE Charitable activities

During the year the charity maintained its support of charitable institutions whose objectives included the relief of poverty, the advancement of education and the advancement of religion.

The period proved very successful in terms of both donations received and grants paid. Due to the recent Covid-19 pandemic, there was an increase in donations received from the public who were keen to support the charity's response to the pandemic which included responding to additional requests from both needy individuals and institutions that required additional funding.

FINANCIAL REVIEW

Investment policy and objectives

Under its Memorandum of Association the charity has the power to invest in any way the trustees wish.

Reserves policy

The trustees have not established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary donations and grants. The trustees consider that the ideal level of reserves as at 31 March 2021 would be three months of resources expended. However, Start Upright is principally operated as a grantgiving charity, and the trustees' policy is to seek to distribute bulk of the income arising in each financial year as at becomes available.

The actual reserves at 31 March 2021 were £31,660 which is significantly less than the target figure. The trustees are considering ways in which further unrestricted funds may be raised.

Financial results

The financial results for the year to 31 March 2021 are shown in the attached financial statements.

Total income increased from £940,884 to £3,235,594 and total expenditure increased from £958,950 to £3,205,574 in comparison with the previous period.

There was a net increase in funds of £30,020 (2020 - decrease of £18,066) with total unrestricted funds carried forward of £31,660 (2020 - £1,640).

FUTURE PLANS

The charity is planning to generate more income for the much needed grants that it makes.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Start Upright is constituted as an unincorporated charity and was formed on 20 July 2009. The charity is registered with the Charity Commission (Charity Registration Number 1130608) and is governed by its Constitution.

Recruitment and appointment of new trustees

The Articles of Association stipulate that there must be a minimum of three trustees and there is no maximum number of trustees. All trustees must be members of the charitable company. Additional trustees may be appointed by the existing trustees at any time, either to fill a casual vacancy or as an addition to the existing trustees. Any trustees so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election. No trustee had any beneficial interest in any contract with the charitable company during the year.

The charitable company strives to ensure equal opportunities and diversity in both the employment of staff and trustee appointments. Selection criteria and procedures are regularly reviewed to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities.

Potential trustees are invited to informally attend trustee meetings prior to appointment and a comprehensive induction programme is available. Additionally individual trustees may undertake external training in a particular area of their role on the Governing Body.

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REPORT OF THE TRUSTEES for the year ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

The board of trustees administers the charity and meets at least four times in a year.

Risk management

The trustees have undertaken a full risk assessment of the organisation covering financial, operational, regulatory, governance and management. Various systems and checks have been put into operation, which are reviewed annually.

Covid-19

The Covid 19 pandemic which has had a significant social and economic impact on communities worldwide, resulted in an increased demand for assistance. The trustees adapted their activities to comply with government’s policies and guidance and were able to raise significant additional funds to enable them to continue their work.

Fundraising

The charity has a good reputation within the local community and has a large pool of regular donors who wish to have a part in the charitable activities of the charity. Existing donors often recommend and encourage other philanthropists to pledge their support to the success of the charity. As such, the trustees do not engage professional fundraisers nor do they undertake public collections or cold calls.

The charity is committed to the principals set out by the Fundraising Regulator in its Code of Fundraising Practice. When donors are approached, this is done with sensitivity and respect and with regard to their circumstances.

The trustees are pleased to report that no complaints were received in the past twelve months in relation to its fundraising activities.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1130608

Principal address

40 Braydon Road London N16 6QB

Trustees

Rabbi E Schwartz Mr G R Conrad Mrs R Devries

Auditors

Raffingers LLP, Statutory Auditor Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

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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REPORT OF THE TRUSTEES for the year ended 31 March 2021

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

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 18 January 2022 and signed on its behalf by:

Rabbi E Schwartz - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF START UPRIGHT

Opinion

We have audited the financial statements of Start Upright (the 'charity') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF START UPRIGHT

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF START UPRIGHT

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities including fraud:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF START UPRIGHT

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Other matters which we are required to address Other matter

In the previous accounting period, the trustees of the charity took advantage of audit exemption under section 144 of the Charities Act 2011 as amended by the Charities Act 2011 (Accounts and Audit) Order 2015. Therefore, the prior period financial statements were not subject to audit.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Raffingers LLP, Statutory Auditor Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

18 January 2022

Raffingers LLP is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

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STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 March 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
EXPENDITURE ON
Charitable activities
3
Grants to institutions
Grants to individuals
Support costs
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2021
Unrestricted
fund
£
3,235,594
3,072,815
122,347
10,412
3,205,574
30,020
1,640
31,660		 2020
Total
funds
£
940,884
955,523
-
3,427
958,950
(18,066)
19,706
1,640

The notes form part of these financial statements

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BALANCE SHEET

31 March 2021

2021
Unrestricted
fund
Notes
£
CURRENT ASSETS
Cash at bank
50,885
CREDITORS
Amounts falling due within one year
7
(19,225)
NET CURRENT ASSETS
31,660
TOTAL ASSETS LESS CURRENT
LIABILITIES
31,660
NET ASSETS
31,660
FUNDS
8
Unrestricted funds
31,660
TOTAL FUNDS
31,660		 2020
Total
funds
£
46,515
(44,875)
1,640
1,640
1,640
1,640
1,640

The financial statements were approved by the Board of Trustees and authorised for issue on 18 January 2022 and were signed on its behalf by:

Rabbi E Schwartz - Trustee

The notes form part of these financial statements

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CASH FLOW STATEMENT

for the year ended 31 March 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash 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		 2021
£
4,907
(537)
4,370
4,370
46,515
50,885		 2020
£
26,559
-
26,559
26,559
19,956
46,515

The notes form part of these financial statements

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NOTES TO THE CASH FLOW STATEMENT

for the year ended 31 March 2021

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Interest paid
(Decrease)/increase in creditors
Net cash provided by operations		 2021
£
30,020
537
(25,650)
4,907		 2020
£
(18,066)
-
44,625
26,559

2.

ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.20
Cash flow
At
£
£
Net cash
Cash at bank
46,515
4,370
46,515
4,370
Total
46,515
4,370		 31.3.21
£
50,885
50,885
50,885

The notes form part of these financial statements

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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 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.

The charitable company constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Assessment of going concern

The trustees, having made appropriate enquiries, consider that adequate resources exists for the charity to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt going concern basis in preparing the financial statements as at and for the period ended 31 March 2021. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet the liabilities as they fall due. In arriving at the conclusion, the trustees have considered the potential implications of the effects of Covid 19 on the charity The figures for the period under consideration have not been impacted by Covid 19 adversely and the trustees are confident that no adjustments are necessary to the carrying value of the assets held at the balance sheet date.

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 payable are included in the period when any relevant conditions are met by the receiving entity. Payment of later instalments of a grant usually requires satisfactory progress reports from the project.

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.

Charitable activities

Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and costs linked to the strategic management of the charity.

Allocation and apportionment of costs

Overhead and support costs relating to charitable activities have been apportioned based on usage.

Taxation

The charity is exempt from tax on its charitable activities.

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021

1. ACCOUNTING POLICIES - continued

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.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. Debtors more than one year are included in the accounts at their carrying value.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlement can be estimated reliably.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

2. DONATIONS AND LEGACIES

Donations and grants
CHARITABLE ACTIVITIES COSTS
Grants to institutions
Grants to individuals
Support costs		 Grant
funding of
activities
(see note
4)
£
3,072,815
122,347
-
3,195,162		 2021
£
3,235,594
Support
costs (see
note 5)
£
-
-
10,412
10,412		 2020
£
940,884
Totals
£
3,072,815
122,347
10,412
3,205,574

3. CHARITABLE ACTIVITIES COSTS

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021

4. GRANTS PAYABLE

GRANTS PAYABLE
Grants to institutions
Grants to individuals
The total grants paid to institutions during the year was as follows:
Aizer Chasanim Kretchnif
Aizer Nesuin Toldot Aharon
Beis Chinuch Atres Bonois
Bais Hamedrash Yeshias Israel
Beis Medrash Ohel Yeshorim
Chesed L'Abraham Inc.
Chevras Nehoroh De'oraisoh
Chinuch Yerusholaim
Chochmas Yakov Beit Shemesh
Cong. Kahal Chareidim
Cong. Mosdos Toldos Aharon
Congregation Chernobil
Hachnasas Orchim Linas Hachesed
Hedvat Hashabbos
Irgun Haysomim Boneini
Kehal Ohel Menachem Vitepsk
Keren Ezer Ne'suin Tchernobal
Keren Yesomim Fund
Khal Beis Moshe Aharon
Kollel Oor Yakov
Mesivta Ziev Hatorah
Mifal Hachesed Keren Ose Choyil
Mosdos Bitchkev
Mosdos Breslow Jerusalem
Mosdos Chesed L'avraham
Shaarei Marpe
Shem Olam Trust
Tchabe Kollel Limited
United Institutions Of Maharitz Dushinsky
Yeshiva Kneset Eliyahu
Other grants below £50,000		 2021
£
3,072,815
122,347
3,195,162
2021
£
70,000
65,000
-
96,225
62,000
8,000
70,000
79,178
-
63,685
56,760
70,000
89,915
-
60,775
108,150
75,049
51,583
59,578
-
53,320
57,810
60,240
-
50,000
72,775
-
601,394
52,735
-
1,038,643
3,072,815		 2020
£
955,273
-
955,273
2020
£
-
-
70,000
-
-
65,480
-
-
69,025
-
-
49,895
-
78,950
-
-
-
25,807
-
57,535
-
-
-
69,975
-
-
62,763
-
-
50,065
355,778
955,273

Donations were paid to institutions whose objectives include the relief of poverty and advancement of Jewish religion.

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continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021

5. SUPPORT COSTS

SUPPORT COSTS
Governance
Management Finance costs Totals
£ £ £ £
Support costs 2,925 537 6,950 10,412

6. 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.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.20
£
1,640
1,640
Incoming
resources
£
3,235,594
3,235,594
At 1.4.19
£
19,706
19,706		 2021
£
19,225
Net
movement
in funds
£
30,020
30,020
Resources
expended
£
(3,205,574 )
(3,205,574 )
Net
movement
in funds
£
(18,066)
(18,066)		 2020
£
44,875
At
31.3.21
£
31,660
31,660
Movement
in funds
£
30,020
30,020
At
31.3.20
£
1,640
1,640

8. MOVEMENT IN FUNDS

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continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021

8. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
940,884
940,884		 Resources
Movement
expended
in funds
£
£
(958,950)
(18,066)
(958,950)
(18,066)

9. RELATED PARTY DISCLOSURES

During the year, the charity received net donations of £21,808 from Chasdei Aharon Limited, a charity of which Rabbi E Schwatz is also a trustee.

During the year, the charity received net donations of £67,246 from College for Higher Rabbinical Studies, a charity of which Mr G R Conrad is also a trustee.

During the year, the charity received net donations of £10,673 from Chasdei Sholom, a charity of which Rabbi E Schwatz is also a trustee.

During the year, the charity made net grants of £9,835 to Congregation Sharei Sholom Tchabe Limited, a charity of which Rabbi E Schwatz is also a trustee.

During the year, the charity made net grants of £400,751 to Tchabe Kollel Limited, a charity of which Mr G R Conrad and Mrs R Devries are also trustees.

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