COMPANY REGISTRATION NUMBER: 07292019 CHARITY REGISTRATION NUMBER: 1137012
Ozar Lenetzrochim Limited Company Limited by Guarantee
Unaudited Financial Statements
30 June 2021
BRINDLEY GOLDSTEIN LIMITED
Chartered accountants 103 High Street Waltham Cross Herts EN8 7AN
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 13 |
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 June 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 June 2021.
Reference and administrative details
Registered charity name Ozar Lenetzrochim Limited Charity registration number 1137012 Company registration number 07292019 Principal office and registered 103 High Street office Waltham Cross Herts. EN8 7AN The trustees Mr B. Roth Mrs R. Roth Independent examiner Charles Goldstein FCA 103 High Street Waltham Cross Herts EN8 7AN
Structure, governance and management
The Charity is constituted by trust deed dated 22nd June 2010, and is a registered charity.
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Objectives and activities
The charity's objective is to promote the advancement of education and learning of the Orthodox Jewish Faith, and the relief of poverty, the provision of food and drink, and wedding assistance, and such other purposes as recognised by English Law as charitable.the aims of the charity, including the issues it seeks to address and the changes or differences it seeks to make through its activities The above objectives were continued with during the year.
Achievements and performance
The charity has continued to offer assistance through education, support for the poor, medical provision, wedding assistance and learning of the Jewish faith.
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2021
Financial review
The financial results of the Charity's activities for the year reflected in the attached financial statements together with the notes thereon.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 29 March 2022 and signed on behalf of the board of trustees by:
Mr B. Roth Trustee
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Ozar Lenetzrochim Limited
Year ended 30 June 2021
I report to the trustees on my examination of the financial statements of Ozar Lenetzrochim Limited ('the charity') for the year ended 30 June 2021.
Responsibilities and basis of report
The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ICAEW. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission
-
under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006, and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met.
Charles Goldstein FCA Independent Examiner
103 High Street Waltham Cross Herts EN8 7AN
29 March 2022
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 June 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 251,819 | 251,819 | 170,524 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 251,819 | 251,819 | 170,524 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Cost of charitable activities | 6 | 246,976 | 246,976 | 168,814 |
| Other expenditure | 9 | 1,646 | 1,646 | 1,368 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 248,622 | 248,622 | 170,182 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 3,197 | 3,197 | 342 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | (429) | (429) | (680) | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 2,768 | 2,768 | (338) | |
| ================================ | ================================ | ================================ |
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 11 form part of these financial statements.
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Statement of Financial Position
30 June 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 4,358 | 1,041 | |
| Creditors: amounts falling due within one year | |||
| Trade creditors | 960 | 840 | |
| Other creditors including taxation and social security | 14 | 90 | 90 |
| Accruals and deferred income | 540 | 540 | |
| ----------------------- | ----------------------- | ||
| 1,590 | 1,470 | ||
| ----------------------- | ----------------------- | ||
| Net current assets | 2,768 | (429) | |
| ----------------------- | -------------- | ||
| Total assets less current liabilities | 2,768 | (429) | |
| ----------------------- | -------------- | ||
| Net assets | 2,768 | (429) | |
| ======================= | ============== | ||
| Funds of the charity | |||
| Unrestricted funds | 2,768 | (429) | |
| ----------------------- | -------------- | ||
| Total charity funds | 15 | 2,768 ======================= |
(429) ============== |
For the year ending 30 June 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 29 March 2022, and are signed on behalf of the board by:
Mr B. Roth Trustee
The notes on pages 6 to 11 form part of these financial statements.
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 103 High Street, Waltham Cross, Herts., EN8 7AN.
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 Companies Act 2006.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
There are no judgements and estimates.
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2021
3. Accounting policies (continued)
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 incoming resources are 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.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2021
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
- 15% reducing balance
4. Limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2021
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations received | 251,819 | 251,819 | 170,524 | 170,524 |
| ================================ | ================================ | ================================ | ================================ | |
| Cost of charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Religious Advancement | 3,018 | 3,018 | – | – |
| Maintenance and support of poor | ||||
| people | 222,012 | 222,012 | 98,688 | 98,688 |
| Educational assistance | 20,563 | 20,563 | 55,692 | 55,692 |
| Medical assistance | 1,383 | 1,383 | 1,617 | 1,617 |
| Wedding assistance | – | – | 12,817 | 12,817 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 246,976 | 246,976 | 168,814 | 168,814 | |
| ================================ | ================================ | ================================ | ================================ |
6. Cost of charitable activities
7. Analysis of support costs
| Analysis of | |||||
|---|---|---|---|---|---|
| support costs | |||||
| activity 1 | Total 2021 | Total 2020 | |||
| £ | £ | £ | |||
| Bank charges & Travel costs | 1,105 | 1,105 | 828 | ||
| ======================= | ======================= | ============== | |||
| 8. | Analysis of grants | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Grants distributed | |||||
| Grants distributed | 246,976 | 168,814 | |||
| -------------------------------- | -------------------------------- | ||||
| Total grants | 246,976 | 168,814 | |||
| ================================ | ================================ | ||||
| 9. | Other expenditure | ||||
| Unrestricted | Total Funds |
Unrestricted | Total Funds | ||
| Funds | 2021 |
Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Other expenditure | 1,646 | 1,646 |
1,368 | 1,368 | |
| ======================= | ======================= | ======================= | ======================= |
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2021
10. Net income
| Net income is stated after charging/(crediting): | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | – | 91 | |
| ============== | ============== | ||
| 11. | Independent examination fees | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 540 ============== |
540 ============== |
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. Tangible fixed assets
| Fixtures and | ||
|---|---|---|
| fittings | ||
| £ | ||
| Cost | ||
| At 1 July 2020 and 30 June 2021 | 1,175 | |
| ======================= | ||
| Depreciation | ||
| At 1 July 2020 and 30 June 2021 | 1,175 | |
| ======================= | ||
| Carrying amount | ||
| At 30 June 2021 | – | |
| ======================= | ||
| At 30 June 2020 | – | |
| ======================= | ||
| Other creditors including taxation and social security falling | ||
| due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Other creditors | 90 | 90 |
| ============== | ============== |
14. Other creditors including taxation and social security falling
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2021
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 30 June 202 | |||
| 1 July 2020 | Income | Expenditure | 1 | |
| £ | £ | £ | £ | |
| General funds | (429) | 251,819 | (248,622) | 2,768 |
| ============== | ================================ | ================================ | ======================= | |
| At | At | |||
| 1 July 2019 | Income | Expenditure | 30 June 2020 | |
| £ | £ | £ | £ | |
| General funds | (680) | 170,524 | (170,182) | (338) |
| ============== | ================================ | ================================ | ============== | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| £ | £ | |||
| Creditors less than 1 year | – | – | ||
| ============== | ============== | |||
| Unrestricted | Total Funds | |||
| Funds | 2020 | |||
| £ | £ | |||
| Creditors less than 1 year | (430) ============== |
(430) ============== |
16. Analysis of net assets between funds
17. Related parties
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Ozar Lenetzrochim Limited
Company Limited by Guarantee
Management Information
Year ended 30 June 2021
The following pages do not form part of the financial statements.
12
Ozar Lenetzrochim Limited
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 30 June 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations received | 251,819 | 170,524 |
| -------------------------------- | -------------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 251,819 | 170,524 |
| ================================ | ================================ | |
| Expenditure | ||
| Cost of charitable activities | ||
| Religious Advancement | 3,018 | – |
| Maintenance and support of poor people | 222,012 | 98,688 |
| Educational assistance | 20,563 | 55,692 |
| Medical assistance | 1,383 | 1,617 |
| Wedding assistance | – | 12,817 |
| -------------------------------- | -------------------------------- | |
| 246,976 | 168,814 | |
| -------------------------------- | -------------------------------- | |
| Other expenditure | ||
| Other expenditure | 1,646 | 1,368 |
| ----------------------- | ----------------------- | |
| -------------------------------- | -------------------------------- | |
| Total expenditure | 248,622 | 170,182 |
| ================================ | ================================ | |
| -------------------------------- | -------------------------------- | |
| Net income | 3,197 | 342 |
| ================================ | ================================ |
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