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 2021
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 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 |
| Detailed Statement of Financial Activities | 11 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Report of the Trustees for the Year Ended 30 November 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 30 November 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 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 £65,242 (2020: £60,546).
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 2021
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
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 2021.
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
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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
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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 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 248,287 Investment income 2 23,395 Other income 10,009 Total 281,691 EXPENDITURE ON Charitable activities Donations 48,482 Synagogue rent and expenses 210,485 Other - Total 258,967 NET INCOME/(EXPENDITURE) 22,724 RECONCILIATION OF FUNDS Total funds brought forward 326,558 TOTAL FUNDS CARRIED FORWARD 349,282 |
Restricted fund £ 119,149 - - 119,149 16,760 55,082 41,238 113,080 6,069 116,501 122,570 |
30.11.21 30.11.20 Total Total funds funds £ £ 367,436 320,709 23,395 20,680 10,009 4,739 400,840 346,128 65,242 60,546 265,567 299,997 41,238 - 372,047 360,543 28,793 (14,415) 443,059 457,474 471,852 443,059 |
|---|---|---|
The notes form part of these financial statements
Page 4
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Balance Sheet 30 November 2021
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 - Investments 7 241,636 Cash at bank and in hand 107,646 349,282 CREDITORS Amounts falling due within one year 8 - NET CURRENT ASSETS 349,282 TOTAL ASSETS LESS CURRENT LIABILITIES 349,282 NET ASSETS 349,282 FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 4,155 - 130,894 135,049 (12,479) 122,570 122,570 122,570 |
30.11.21 Total funds £ 4,155 241,636 238,540 484,331 (12,479) 471,852 471,852 471,852 349,282 122,570 471,852 |
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 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 ............................................. and were signed on its behalf by:
............................................. 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 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.
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 | ||
|---|---|---|
| 30.11.21 | 30.11.20 | |
| £ | £ | |
| Rents received | 21,000 | 18,375 |
| Deposit account interest | 20 | 179 |
| Curr asset inv income | 2,375 | 2,126 |
| 23,395 | 20,680 |
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continued...
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2021
3. GRANTS PAYABLE
| 30.11.21 £ Donations 65,242 During the year, grants to institutions amounted to £48,482. Total grants paid to institutions is comprised as follows: Gitter Foundation Kosher Outlet Zlozitz Kollel Israel Other amounts < £2,000 |
30.11.20 £ 60,546 9,000 32,000 3,000 4,482 48,482 |
|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2021 nor for the year ended 30 November 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2021 nor for the year ended 30 November 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 212,468 Investment income 20,680 Other income 4,739 Total 237,887 EXPENDITURE ON Charitable activities Donations 21,696 Synagogue rent and expenses 245,583 Total 267,279 NET INCOME/(EXPENDITURE) (29,392) RECONCILIATION OF FUNDS Total funds brought forward 355,950 |
Restricted fund £ 108,241 - - 108,241 38,850 54,414 93,264 14,977 101,524 |
Total funds £ 320,709 20,680 4,739 346,128 60,546 299,997 360,543 (14,415) 457,474 |
|---|---|---|
continued...
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BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2021
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Unrestricted fund £ TOTAL FUNDS CARRIED FORWARD 326,558 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 1/12/20 £ Unrestricted funds General fund 326,558 Restricted funds Restricted fund 116,501 TOTAL FUNDS 443,059 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 281,691 Restricted funds Restricted fund 119,149 TOTAL FUNDS 400,840 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Unrestricted fund £ TOTAL FUNDS CARRIED FORWARD 326,558 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 1/12/20 £ Unrestricted funds General fund 326,558 Restricted funds Restricted fund 116,501 TOTAL FUNDS 443,059 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 281,691 Restricted funds Restricted fund 119,149 TOTAL FUNDS 400,840 |
continued Restricted Total fund funds £ £ 116,501 443,059 30.11.21 30.11.20 £ £ 4,155 6,795 30.11.21 30.11.20 £ £ 241,636 240,828 30.11.21 30.11.20 £ £ 12,479 12,479 Net movement At in funds 30/11/21 £ £ 22,724 349,282 6,069 122,570 28,793 471,852 Resources Movement expended in funds £ £ (258,967) 22,724 (113,080) 6,069 (372,047) 28,793 |
Total funds £ |
|---|---|---|---|
| 443,059 | |||
continued...
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BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2021
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| At | movement | At | |
| 1/12/19 | in funds | 30/11/20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 355,950 | (29,392) | 326,558 |
| Restricted funds | |||
| Restricted fund | 101,524 | 14,977 | 116,501 |
| TOTAL FUNDS | 457,474 | (14,415) | 443,059 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 237,887 | (267,279) | (29,392) |
| Restricted funds | |||
| Restricted fund | 108,241 | (93,264) | 14,977 |
| TOTAL FUNDS | 346,128 | (360,543) | (14,415) |
| 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 1/12/19 £ 355,950 101,524 457,474 |
Net movement in funds £ (6,668) 21,046 14,378 |
At 30/11/21 £ 349,282 122,570 471,852 |
|---|---|---|---|
continued...
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BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2021
9. MOVEMENT IN FUNDS - continued
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 £ 519,578 227,390 746,968 |
Resources Movement expended in funds £ £ (526,246) (6,668) (206,344) 21,046 (732,590) 14,378 |
|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2021.
Page 10
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Detailed Statement of Financial Activities for the Year Ended 30 November 2021
| 30.11.21 | 30.11.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 367,436 | 320,709 |
| Investment income | ||
| Rents received | 21,000 | 18,375 |
| Deposit account interest | 20 | 179 |
| Curr asset inv income | 2,375 | 2,126 |
| 23,395 | 20,680 | |
| Other income | ||
| Security costs reimbursed | 10,009 | 4,739 |
| Total incoming resources | 400,840 | 346,128 |
| EXPENDITURE | ||
| Charitable activities | ||
| Synagogue rent | 75,000 | 76,407 |
| Synagogue expenses | 190,567 | 223,590 |
| Relief of sickness | 41,238 | - |
| Grants to institutions | 48,482 | 21,696 |
| Grants to individuals | 16,760 | 38,850 |
| 372,047 | 360,543 | |
| Total resources expended | 372,047 | 360,543 |
| Net income/(expenditure) | 28,793 | (14,415) |
This page does not form part of the statutory financial statements
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