REGISTERED COMPANY NUMBER: 07079321 (England and Wales) REGISTERED CHARITY NUMBER: 1136805
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 November 2020
for
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Martin+Heller 5 North End Road London NW11 7RJ
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Contents of the Financial Statements for the Year Ended 30 November 2020
| 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 |
| Detailed Statement of Financial Activities | 11 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Report of the Trustees for the Year Ended 30 November 2020
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 30 November 2020. 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 charity's objects ("objects") are specifically restricted to the following:
The relief of financial hardship, either generally or individually, amongst the elderly or in conditions of need, hardship and distress within the Jewish Community by making grants of money for providing or paying for items, services or facilities or providing such persons with goods or services which they could not otherwise afford through lack of means to advance the orthodox Jewish religion for the benefit of the public through the holding of prayer meetings, study sessions, lectures, public celebration of religious festivals in accordance with the tenets of the orthodox Jewish religion. To advance the education of Jewish pupils according to the tenets of the orthodox Jewish religion by providing and assisting in the provision of appropriate facilities needed for such purposes. To promote any purpose that the trustees may decide and that is legally considered charitable.
Public benefit
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.
Grantmaking
Grants are made to charitable institutions and organisations which accord with the objects of the charity, as well as to individuals and families in need.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity has been most satisfactory. During the year, the synagogue run by the charity held regular prayer services and study sessions as well as offering various programmes and lectures to the wider community. The charity also made grants to institutions and individuals amounting to £60,546 (2019: £36,186).
FINANCIAL REVIEW
Principal funding sources
The charity's income is comprised mainly of voluntary donations received from individuals and other charitable organisations.
Reserves policy
The charity does not maintain a reserves policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
There are no significant future developments to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a charitable company limited by guarantee. It is governed by a memorandum and articles of association incorporated on 17 November 2009.
Induction and training of new trustees
It is not the intention of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures. At every trustee body meeting, time is set aside for trustee training of current significance.
Page 1
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Report of the Trustees for the Year Ended 30 November 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07079321 (England and Wales)
Registered Charity number
1136805
Registered office
5 North End Road London NW11 7RJ
Trustees
D Z Conway S Unsdorfer A Gertner B Groszman
Company Secretary
A Gertner
Independent Examiner
Mr A Heller, FCA 5 North End Road London NW11 7RJ
25/08/2021
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ A Gertner - Trustee
Page 2
Independent Examiner's Report to the Trustees of BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Independent examiner's report to the trustees of BEIS HAMEDRASH NISHMAS YISROEL LIMITED ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements 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 eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 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 registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Mr A Heller, FCA 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Statement of Financial Activities for the Year Ended 30 November 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 212,468 Investment income 2 20,680 Other income 4,739 Total 237,887 EXPENDITURE ON Charitable activities Donations 21,696 Synagogue rent and expenses 245,583 Other - Total 267,279 NET INCOME/(EXPENDITURE) (29,392) RECONCILIATION OF FUNDS Total funds brought forward 355,950 TOTAL FUNDS CARRIED FORWARD 326,558 |
Restricted fund £ 108,241 - - 108,241 38,850 54,414 - 93,264 14,977 101,524 116,501 |
30.11.20 30.11.19 Total Total funds funds £ £ 320,709 331,325 20,680 23,698 4,739 4,662 346,128 359,685 60,546 36,186 299,997 247,450 - 1,711 360,543 285,347 (14,415) 74,338 457,474 383,136 443,059 457,474 |
|---|---|---|
The notes form part of these financial statements
Page 4
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Balance Sheet 30 November 2020
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 - Investments 7 240,828 Cash at bank and in hand 85,730 326,558 CREDITORS Amounts falling due within one year 8 - NET CURRENT ASSETS 326,558 TOTAL ASSETS LESS CURRENT LIABILITIES 326,558 NET ASSETS 326,558 FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 6,795 - 122,185 128,980 (12,479) 116,501 116,501 116,501 |
30.11.20 Total funds £ 6,795 240,828 207,915 455,538 (12,479) 443,059 443,059 443,059 326,558 116,501 443,059 |
30.11.19 Total funds £ 6,435 154,640 308,878 469,953 (12,479) 457,474 457,474 457,474 355,950 101,524 457,474 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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 ............................................. and were signed on its behalf by: 25/08/2021
............................................. A Gertner - Trustee
The notes form part of these financial statements
Page 5
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements for the Year Ended 30 November 2020
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.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 30.11.20 | 30.11.19 | |
| £ | £ | |
| Rents received | 18,375 | 21,000 |
| Deposit account interest | 179 | 433 |
| Curr asset inv income | 2,126 | 2,265 |
| 20,680 | 23,698 |
Page 6
continued...
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2020
3. GRANTS PAYABLE
| 30.11.20 £ Donations 60,546 During the year, grants to institutions amounted to £21,696. Total grants paid to institutions is comprised as follows: WST Charity Limited Torah Vodaas Primary School Beis Chemdas Chesed Other amounts < £2,000 |
30.11.19 £ 36,186 7,110 7,000 3,454 4,132 21,696 |
|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2020 nor for the year ended 30 November 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2020 nor for the year ended 30 November 2019.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 234,083 Investment income 23,698 Other income 4,662 Total 262,443 EXPENDITURE ON Charitable activities Donations 8,794 Synagogue rent and expenses 218,864 Other 1,711 Total 229,369 NET INCOME 33,074 |
Restricted fund £ 97,242 - - 97,242 27,392 28,586 - 55,978 41,264 |
Total funds £ 331,325 23,698 4,662 359,685 36,186 247,450 1,711 285,347 74,338 |
|---|---|---|
continued...
Page 7
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2020
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Unrestricted fund £ RECONCILIATION OF FUNDS Total funds brought forward 322,876 TOTAL FUNDS CARRIED FORWARD 355,950 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. CURRENT ASSET INVESTMENTS Other Investments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS At 1/12/19 £ Unrestricted funds General fund 355,950 Restricted funds Restricted fund 101,524 TOTAL FUNDS 457,474 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Unrestricted fund £ RECONCILIATION OF FUNDS Total funds brought forward 322,876 TOTAL FUNDS CARRIED FORWARD 355,950 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. CURRENT ASSET INVESTMENTS Other Investments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS At 1/12/19 £ Unrestricted funds General fund 355,950 Restricted funds Restricted fund 101,524 TOTAL FUNDS 457,474 |
continued Restricted fund £ 60,260 101,524 30.11.20 £ 6,795 30.11.20 £ 240,828 30.11.20 £ 12,479 Net movement in funds £ (29,392) 14,977 (14,415) |
continued Restricted fund £ 60,260 101,524 30.11.20 £ 6,795 30.11.20 £ 240,828 30.11.20 £ 12,479 Net movement in funds £ (29,392) 14,977 (14,415) |
Total funds £ 383,136 457,474 30.11.19 £ 6,435 30.11.19 £ 154,640 30.11.19 £ 12,479 At 30/11/20 £ 326,558 116,501 443,059 |
|---|---|---|---|---|
continued...
Page 8
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2020
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 237,887 Restricted funds Restricted fund 108,241 TOTAL FUNDS 346,128 Comparatives for movement in funds At 1/12/18 £ Unrestricted funds General fund 322,876 Restricted funds Restricted fund 60,260 TOTAL FUNDS 383,136 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 262,443 Restricted funds Restricted fund 97,242 TOTAL FUNDS 359,685 |
Resources Movement expended in funds £ £ (267,279) (29,392) (93,264) 14,977 (360,543) (14,415) Net movement At in funds 30/11/19 £ £ 33,074 355,950 41,264 101,524 74,338 457,474 Resources Movement expended in funds £ £ (229,369) 33,074 (55,978) 41,264 (285,347) 74,338 |
|---|---|
continued...
Page 9
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2020
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
At 1/12/18 £ 322,876 60,260 383,136 |
Net movement in funds £ 3,682 56,241 59,923 |
At 30/11/20 £ 326,558 116,501 443,059 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 500,330 205,483 705,813 |
Resources Movement expended in funds £ £ (496,648) 3,682 (149,242) 56,241 (645,890) 59,923 |
|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2020.
Page 10
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Detailed Statement of Financial Activities for the Year Ended 30 November 2020
| 30.11.20 | 30.11.19 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 320,709 | 331,325 |
| Investment income | ||
| Rents received | 18,375 | 21,000 |
| Deposit account interest | 179 | 433 |
| Curr asset inv income | 2,126 | 2,265 |
| 20,680 | 23,698 | |
| Other income | ||
| Security costs reimbursed | 4,739 | 4,662 |
| Total incoming resources | 346,128 | 359,685 |
| EXPENDITURE | ||
| Charitable activities | ||
| Synagogue rent | 76,407 | 151,506 |
| Synagogue expenses | 223,590 | 95,944 |
| Grants to institutions | 21,696 | 14,651 |
| Grants to individuals | 38,850 | 21,535 |
| 360,543 | 283,636 | |
| Support costs | ||
| Management | ||
| Repairs and renewals | - | 1,711 |
| Total resources expended | 360,543 | 285,347 |
| Net (expenditure)/income | (14,415) | 74,338 |
This page does not form part of the statutory financial statements
Page 11