REGISTERED COMPANY NUMBER: 06959818 (England and Wales) REGISTERED CHARITY NUMBER: 1137822
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
FOR
BEIS CHANA LIMITED
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
BEIS CHANA LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 10 |
BEIS CHANA LIMITED (REGISTERED NUMBER: 06959818)
REPORT OF THE TRUSTEES
for the year ended 31 July 2023
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 31 July 2023. 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 and principal activities are:
a) The advancement of the Orthodox Jewish Religion amongst women of the Jewish faith in accordance with the principles of Chabad philosophy.
b) The advancement of Orthodox Jewish Religious education and education generally amongst women of the Jewish faith. c) The relief of poverty illness infirmity and distress primarily but not exclusively amongst persons of the Jewish faith.
d) Such other purposes as may from time to time be charitable according to english law as the directors of the company shall determine.
Public benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities.The aims of the charitable company for the public benefit are detailed in the 'Objectives and Activities' section of this report and the main activities undertaken in order to carry out the charitable company's aims for the public benefit are outlined under 'Achievements and Performance' below.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Beis Chana has provided support, activities and classes on a range of different topics both religious and secular for Jewish women and girls in a format which is sensitive to and appropriate for the religious ethos of its participants. Thanks to our hardworking volunteers Beis Chana is used seven days a week, often from 9am-11pm providing services and support.
During the year under review income increased from £20,331 to £39,858. Expenses increased from £21,395 to £28,899.
FINANCIAL REVIEW
Investment policy and objectives
Under its Memorandum of Association the charity has power to invest in any way the trustees wish.
Reserves policy
The trustees have established the level of free reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on educational and grant activities and receiving resources through voluntary donations and grants. The trustees consider that the ideal level of reserves for the year ended 31 July 2023 would be three months of resources expended which is approximately £6,000 (2022 - £5,500).
The actual reserves as at 31 July 2023 were £30,043 (2022 - £19,084), and are considered adequate.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
New Trustees are appointed due to their interest in the work of charity and their recognised experience in specific fields which will further support the work of the Beis Chana Limited.
Page 1
BEIS CHANA LIMITED (REGISTERED NUMBER: 06959818)
REPORT OF THE TRUSTEES
for the year ended 31 July 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The board of trustees administers the charity. The board meets quarterly.
Induction and training of new trustees
New trustees are given a full induction by one of the current trustees. Trustees can retire when they wish as they do not serve under a fixed term of tenure.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06959818 (England and Wales)
Registered Charity number
1137822
Registered office
19 Northfield Road London N16 5RP
Trustees
Mrs R Davidoff Mrs F Sudak Mrs M Potash Mrs B Raskin
Approved by order of the board of trustees on 12 April 2024 and signed on its behalf by:
Mrs R Davidoff - Trustee
Page 2
BEIS CHANA LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 July 2023
| Unrestricted Restricted fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 14,483 17,300 Investment income 3 8,075 - Total 22,558 17,300 EXPENDITURE ON Charitable activities 4 Outreach and Education 23,851 5,048 NET INCOME/(EXPENDITURE) (1,293) 12,252 RECONCILIATION OF FUNDS Total funds brought forward 19,084 - TOTAL FUNDS CARRIED FORWARD 17,791 12,252 |
2023 2022 Total Total funds funds £ £ 31,783 20,330 8,075 1 39,858 20,331 28,899 21,395 10,959 (1,064) 19,084 20,148 30,043 19,084 |
|---|---|
The notes form part of these financial statements
Page 3
BEIS CHANA LIMITED (REGISTERED NUMBER: 06959818)
BALANCE SHEET
31 July 2023
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 8 1,260 - CURRENT ASSETS Cash at bank 17,745 12,252 CREDITORS Amounts falling due within one year 9 (1,214) - NET CURRENT ASSETS 16,531 12,252 TOTAL ASSETS LESS CURRENT LIABILITIES 17,791 12,252 NET ASSETS 17,791 12,252 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 Total funds £ 1,260 29,997 (1,214) 28,783 30,043 30,043 17,791 12,252 30,043 |
2022 Total funds £ 1,679 18,588 (1,183) 17,405 19,084 19,084 19,084 - 19,084 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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
continued...
Page 4
BEIS CHANA LIMITED (REGISTERED NUMBER: 06959818)
BALANCE SHEET - continued
31 July 2023
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 12 April 2024 and were signed on its behalf by:
Mrs R Davidoff - Trustee
The notes form part of these financial statements
Page 5
BEIS CHANA LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2023
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.
Assessment of going concern
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
Exemption from preparing cash flow statement
The financial statements do not include a cash flow statement because the charitable company, as a small reporting entity, is exempt from the requirements to prepare such a statement under Charities SORP (FRS 102) Update Bulletin 1, Module 14.
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.
Charitable activities
Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and costs linked to the strategic management of the charity.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page 6
continued...
for the year ended 31 July 2023
BEIS CHANA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
1. ACCOUNTING POLICIES - continued
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.
Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months form the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits.
Creditors and provision
Creditors and provision are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provision are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material.
2. DONATIONS AND LEGACIES
3.
| Donations and membership fees Grants INVESTMENT INCOME Rents received Deposit account interest |
2023 £ 16,124 15,659 31,783 2023 £ 8,075 - 8,075 |
2022 £ 17,830 2,500 |
2022 £ 17,830 2,500 |
|---|---|---|---|
| 20,330 | |||
| 2022 £ - 1 1 |
|||
| 1 |
continued...
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BEIS CHANA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023
4. CHARITABLE ACTIVITIES COSTS
5.
| Outreach and Education SUPPORT COSTS Outreach and Education |
Support Direct costs (see Costs note 5) Totals £ £ £ 27,701 1,198 28,899 Governance costs £ 1,198 |
|---|---|
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 419 | 561 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.
8. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Plant and | Computer | ||
| machinery | equipment | Totals | |
| £ | £ | £ | |
| COST | |||
| At 1 August 2022 and 31 July 2023 | 1,466 | 774 | 2,240 |
| DEPRECIATION | |||
| At 1 August 2022 | 367 | 194 | 561 |
| Charge for year | 274 | 145 | 419 |
| At 31 July 2023 | 641 | 339 | 980 |
| NET BOOK VALUE | |||
| At 31 July 2023 | 825 | 435 | 1,260 |
| At 31 July 2022 | 1,099 | 580 | 1,679 |
continued...
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BEIS CHANA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors | 134 | 133 | |
| Accrued expenses | 1,080 | 1,050 | |
| 1,214 | 1,183 | ||
| MOVEMENT IN FUNDS | |||
| Net | |||
| movement | At | ||
| At 1.8.22 | in funds | 31.7.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 19,084 | (1,293) | 17,791 |
| Restricted funds | |||
| LB Hackney | - | 7,133 | 7,133 |
| National Lottery | - | 5,119 | 5,119 |
| - | 12,252 | 12,252 | |
| TOTAL FUNDS | 19,084 | 10,959 | 30,043 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 22,558 | (23,851) | (1,293) |
| Restricted funds | |||
| LB Hackney | 7,700 | (567) | 7,133 |
| National Lottery | 9,600 | (4,481) | 5,119 |
| 17,300 | (5,048) | 12,252 | |
| TOTAL FUNDS | 39,858 | (28,899) | 10,959 |
10. MOVEMENT IN FUNDS
continued...
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BEIS CHANA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.21 | in funds | 31.7.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 20,148 | (1,064) | 19,084 |
| TOTAL FUNDS | 20,148 | (1,064) | 19,084 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 20,331 | (21,395) | (1,064) |
| TOTAL FUNDS | 20,331 | (21,395) | (1,064) |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2023 or 31 July 2022.
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