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 2022
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 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Report of the Trustees
for the Year Ended 30 November 2022
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 2022. 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 £65,960 (2021: £65,242).
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.
Page 1
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Report of the Trustees
for the Year Ended 30 November 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
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.
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 Martin+Heller 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 2022.
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 member of the Institute of Chartered Accountants in England and Wales, 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
Martin+Heller 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 2022
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 264,363 152,227 Investment income 2 2,894 - Other income 25,930 - Total 293,187 152,227 EXPENDITURE ON Charitable activities Donations 60,315 5,645 Synagogue rent and expenses 222,023 110,202 Other charitable activities - 37,903 Total 282,338 153,750 NET INCOME/(EXPENDITURE) 10,849 (1,523) RECONCILIATION OF FUNDS Total funds brought forward 349,282 122,570 TOTAL FUNDS CARRIED FORWARD 360,131 121,047 |
30.11.22 Total funds £ 416,590 2,894 25,930 445,414 65,960 332,225 37,903 436,088 9,326 471,852 481,178 |
30.11.21 Total funds £ 367,436 2,395 31,009 |
|---|---|---|
| 400,840 | ||
| 65,242 265,567 41,238 |
||
| 372,047 | ||
| 28,793 443,059 |
||
| 471,852 |
The notes form part of these financial statements
Page 4
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Balance Sheet
30 November 2022
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Debtors 6 - 3,015 Investments 7 242,861 - Cash at bank and in hand 117,270 130,511 360,131 133,526 CREDITORS Amounts falling due within one year 8 - (12,479) NET CURRENT ASSETS 360,131 121,047 TOTAL ASSETS LESS CURRENT LIABILITIES 360,131 121,047 NET ASSETS 360,131 121,047 FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
30.11.22 Total funds £ 3,015 242,861 247,781 493,657 (12,479) 481,178 481,178 481,178 360,131 121,047 481,178 |
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 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.
The notes form part of these financial statements
Page 5
continued...
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Balance Sheet - continued
30 November 2022
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 6
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements for the Year Ended 30 November 2022
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 | ||
|---|---|---|
| 30.11.22 | 30.11.21 | |
| £ | £ | |
| Deposit account interest | 340 | 20 |
| Curr asset inv income | 2,554 | 2,375 |
| 2,894 | 2,395 |
continued...
Page 7
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2022
3. GRANTS PAYABLE
| GRANTS PAYABLE | GRANTS PAYABLE | ||
|---|---|---|---|
| 30.11.22 £ Donations 65,960 During the year, grants to institutions amounted to £60,315. Total grants paid to institutions is comprised as follows: |
30.11.21 £ 65,242 |
||
| Gitter Foundation | 12,000 | ||
| Kosher Outlet | 46,500 | ||
| Other amounts < £2,000 | 1,815 | ||
| 60,315 | |||
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2022 nor for the year ended 30 November 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2022 nor for the year ended 30 November 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 248,287 119,149 Investment income 2,395 - Other income 31,009 - Total 281,691 119,149 EXPENDITURE ON Charitable activities Donations 48,482 16,760 Synagogue rent and expenses 210,485 55,082 Other charitable activities - 41,238 Total 258,967 113,080 NET INCOME 22,724 6,069 |
Total funds £ 367,436 2,395 31,009 |
|---|---|
| 400,840 | |
| 65,242 265,567 41,238 |
|
| 372,047 | |
| 28,793 |
continued...
Page 8
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2022
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ RECONCILIATION OF FUNDS Total funds brought forward 326,558 TOTAL FUNDS CARRIED FORWARD 349,282 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 1/12/21 £ Unrestricted funds General fund 349,282 Restricted funds Restricted fund 122,570 TOTAL FUNDS 471,852 |
- continued Restricted fund £ 116,501 122,570 30.11.22 £ 3,015 30.11.22 £ 242,861 30.11.22 £ 12,479 Net movement in funds £ 10,849 (1,523) 9,326 |
Total funds £ 443,059 471,852 30.11.21 £ 4,155 30.11.21 £ 241,636 30.11.21 £ 12,479 At 30/11/22 £ 360,131 121,047 481,178 |
Total funds £ 443,059 |
|
|---|---|---|---|---|
| 471,852 | ||||
continued...
Page 9
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2022
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 293,187 | (282,338) | 10,849 |
| Restricted funds | |||
| Restricted fund | 152,227 | (153,750) | (1,523) |
| TOTAL FUNDS | 445,414 | (436,088) | 9,326 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1/12/20 | in funds | 30/11/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 326,558 | 22,724 | 349,282 |
| Restricted funds | |||
| Restricted fund | 116,501 | 6,069 | 122,570 |
| TOTAL FUNDS | 443,059 | 28,793 | 471,852 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 281,691 | (258,967) | 22,724 |
| Restricted funds | |||
| Restricted fund | 119,149 | (113,080) | 6,069 |
| TOTAL FUNDS | 400,840 | (372,047) | 28,793 |
continued...
Page 10
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Notes to the Financial Statements - continued for the Year Ended 30 November 2022
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1/12/20 in funds £ £ Unrestricted funds General fund 326,558 33,573 Restricted funds Restricted fund 116,501 4,546 TOTAL FUNDS 443,059 38,119 |
At 30/11/22 £ 360,131 121,047 |
|---|---|
| 481,178 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 574,878 | (541,305) | 33,573 |
| Restricted funds | |||
| Restricted fund | 271,376 | (266,830) | 4,546 |
| TOTAL FUNDS | 846,254 | (808,135) | 38,119 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2022.
Page 11
BEIS HAMEDRASH NISHMAS YISROEL LIMITED
Detailed Statement of Financial Activities for the Year Ended 30 November 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Investment income Deposit account interest Curr asset inv income Other income Security costs reimbursed Rents received Total incoming resources EXPENDITURE Charitable activities Synagogue rent Synagogue expenses Relief of sickness Grants to institutions Grants to individuals Total resources expended Net income |
30.11.22 £ 411,652 4,938 416,590 340 2,554 2,894 4,930 21,000 25,930 445,414 75,000 257,225 37,903 60,315 5,645 436,088 436,088 9,326 |
30.11.21 £ 367,436 - |
|---|---|---|
| 367,436 20 2,375 |
||
| 2,395 10,009 21,000 |
||
| 31,009 | ||
| 400,840 75,000 190,567 41,238 48,482 16,760 |
||
| 372,047 | ||
| 372,047 | ||
| 28,793 |
This page does not form part of the statutory financial statements
Page 12