CHARITY REGISTRATION NUMBER: 1133194
Tamid Unaudited Financial Statements
5 April 2021
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Tamid
Financial Statements
Year ended 5 April 2021
| Pages | |
|---|---|
| Trustees' annual report | 1 to 2 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 to 10 |
Tamid
Trustees' Annual Report
Year ended 5 April 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2021.
Reference and administrative details
Registered charity name Tamid Charity registration number 1133194 Principal office 235 St John Street London EC1V 4NG
The trustees
D Goldberg I Weinstein U Goldberg Independent examiner D Schwarz FCCA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
Tamid is a charitable trust constituted by a Deed of Trust dated 3 August 2009 and is a registered charity, number 1133194.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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Tamid
Trustees' Annual Report (continued)
Year ended 5 April 2021
Objectives and activities
The objectives of the charity are to advance education in the Jewish faith in England by providing grants and assistance with basic living costs to people in need to allow them to undertake relevant Academic study.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to individuals and charitable institutions which accord with the objects of the charity.
Achievements and performance
During the year the charity made grants of £55,355 in accordance with its objectives.
Financial review
As at 5 April 2021 the charity held reserves of £15,093 (2020:£12,995).
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the policy of the charity to maintain cash reserves to enable it to continue to fund the charity's activities in these uncertain financial times.
The trustees' annual report was approved on 19 January 2022 and signed on behalf of the board of trustees by:
I Weinstein Trustee
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Tamid
Independent Examiner's Report to the Trustees of Tamid
Year ended 5 April 2021
I report to the trustees on my examination of the financial statements of Tamid ('the charity') for the year ended 5 April 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement - matter of concern identified
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
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Tamid
Statement of Financial Activities
Year ended 5 April 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 58,113 | 58,113 | 47,117 |
| Investment income | 5 | – | – | 6 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 58,113 | 58,113 | 47,123 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 56,015 | 56,015 | 57,059 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 56,015 | 56,015 | 57,059 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net income/(expenditure) and net movement in funds | 2,098 | 2,098 | (9,936) | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 12,995 | 12,995 | 22,931 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 15,093 | 15,093 | 12,995 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 10 form part of these financial statements.
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Tamid
Statement of Financial Position
5 April 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 15,753 | 13,655 | ||
| Creditors: amounts falling due within one year | 13 | 660 | 660 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Net current assets | 15,093 | 12,995 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 15,093 | 12,995 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Net assets | 15,093 | 12,995 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Unrestricted funds | 15,093 | 12,995 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Total charity funds | 14 | 15,093 | 12,995 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 19 January 2022, and are signed on behalf of the board by:
I Weinstein Trustee
The notes on pages 6 to 10 form part of these financial statements.
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Tamid
Notes to the Financial Statements
Year ended 5 April 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 235 St John Street, London, EC1V 4NG.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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Tamid
Notes to the Financial Statements (continued)
Year ended 5 April 2021
3. Accounting policies (continued)
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Charitable activities are made up of grants to individuals and institutions.
Expenditure also includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Governance costs are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 58,113 | 58,113 | 47,117 | 47,117 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | – | – | 6 | 6 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ||
| 6. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Charitable activities | 55,355 | 55,355 | 57,059 | 57,059 | |
| Support costs | 660 | 660 | – | – | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 56,015 ৶৶৶৶৶৶৶৶ |
56,015 ৶৶৶৶৶৶৶৶ |
57,059 ৶৶৶৶৶৶৶৶ |
57,059 ৶৶৶৶৶৶৶৶ |
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Tamid
Notes to the Financial Statements (continued)
Year ended 5 April 2021
7. Expenditure on charitable activities by activity type
| Grant funding | Total funds | Total fund | |||
|---|---|---|---|---|---|
| of activities | Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Charitable activities | 55,355 | – | 55,355 | 57,059 | |
| Governance costs | – | 660 | 660 | – | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 55,355 | 660 | 56,015 | 57,059 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 8. | Analysis of support costs | ||||
| Charitable | |||||
| activities | Total 2021 | Total 2020 | |||
| £ | £ | £ | |||
| Governance costs | 660 | 660 | – | ||
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | |||
| 9. | Analysis of grants | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Grants to institutions | |||||
| Ba'er Miriam | 1,750 | – | |||
| Gesher | 1,400 | – | |||
| grants under £1,000 | 700 | 200 | |||
| Lev Aharon | 1,875 | 200 | |||
| Machon Maayan | 2,800 | – | |||
| Meorot Yerushalayim | 2,800 | – | |||
| Michlelet Mevaseret Yerushalayim | 600 | 1,400 | |||
| Netiv Aryeh | 4,200 | – | |||
| Torat Shraga | 600 | 3,800 | |||
| Yeshiva Vekolel Mikdash Melech | – | 1,400 | |||
| Yeshivas Aish Hatorah Israel | 1,200 | 3,400 | |||
| Yeshivat Ohavei Yerushalayim | 3,025 | – | |||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||||
| 20,950 | 10,400 | ||||
| Grants to individuals | |||||
| Grants for education | 34,405 | 46,659 | |||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||||
| Total grants | 55,355 | 57,059 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
The above grants went towards the following purposes; the relief of poverty, relief of those in need by reason of ill health or disability, the advancement of Jewish religion and the advancement of Jewish religious education.
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Tamid
Notes to the Financial Statements (continued)
Year ended 5 April 2021
10. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 660 | 660 |
| ৶৶৶৶ | ৶৶৶৶ |
11. Staff costs
Nil Nil
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 660 | 660 |
| ৶৶৶৶ | ৶৶৶৶ |
14. Analysis of charitable funds
Unrestricted funds
| At | At | ||||
|---|---|---|---|---|---|
| 6 | April 2020 | Income | Expenditure | 5 April 2021 | |
| £ | £ | £ | £ | ||
| General funds | 12,995 | 58,113 | (56,015) | 15,093 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| At | At | ||||
| 6 | April 2019 | Income | Expenditure | 5 April 2020 | |
| £ | £ | £ | £ | ||
| General funds | 22,931 ৶৶৶৶৶৶৶৶ |
47,123 ৶৶৶৶৶৶৶৶ |
(57,059) ৶৶৶৶৶৶৶৶ |
12,995 ৶৶৶৶৶৶৶৶ |
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Tamid
Notes to the Financial Statements (continued)
Year ended 5 April 2021
15. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Current assets | 15,753 | 15,753 |
| Creditors less than 1 year | (660) | (660) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 15,093 | 15,093 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Current assets | 27,310 | 27,310 |
| Creditors less than 1 year | (1,320) | (1,320) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 25,990 | 25,990 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
16. Related parties
During the year the charity received aggregate donations totalling £548 from 3 trustees and related parties.
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