2024-03-31-accounts - Dover Sholem Community Trust

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REGISTERED CHARITY NUMBER: 1138710

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2024

for

Dover Sholem Community Trust

Martin+Heller Chartered Accountants and Registered Auditor 5 North End Road London NW11 7RJ

Dover Sholem Community Trust

Contents of the Financial Statements for the Year Ended 31 March 2024

		Page
Report of the Trustees	1	to	2
Report of the Independent Auditors	3	to	5
Statement of Financial Activities		6
Balance Sheet		7
Cash Flow Statement		8
Notes to the Cash Flow Statement		9
Notes to the Financial Statements	10	to	15
Detailed Statement of Financial Activities		16

Dover Sholem Community Trust

Report of the Trustees for the Year Ended 31 March 2024

The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 trust was established to assist community activities and charitable projects, as well as support individuals in need. We also provide support to children and young people with mild to moderate special educational needs and specific learning difficulties, enabling them to succeed in their education. We do this by providing intervention services for children and young people and professional training for teachers.

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.

ACHIEVEMENT AND PERFORMANCE

Families in need were supported.
Individuals were assisted in areas they required support in.
Teachers from local schools attended our staff development programme focused on identification of SEN, strategies and methods to support SEN and multi-disciplinary working.
A large number of children were assessed and received therapy and thus improved academically, emotionally, socially and in general behaviour.
Children at risk of failing the school system were assisted and supported gradually back into mainstream schooling by our therapists, who used a range of methods of support.
Student grants were given to mature students in furtherance of their education.

FINANCIAL REVIEW

Reserves policy

Grant funds are applied to projects on a regular basis in accordance with budgets and no specific fund is maintained.

FUTURE PLANS

There are no current plans to change the activities or modus operandi in the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted as an unincorporated trust and as such, its governing document is its Trust Deed dated 30 July 2010. The trustees meet regularly. None of the trustees have any beneficial interest in the charity. Whenever new trustees are to be appointed, the trustees will apply suitable recruitment, training and induction procedures.

Risk management

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.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1138710

Page 1

Dover Sholem Community Trust

Report of the Trustees for the Year Ended 31 March 2024

Principal address

122 Kyverdale Road London N16 6PR

Trustees

H D Francoz M J Wind

Auditors

Martin+Heller Chartered Accountants and Registered Auditor 5 North End Road London NW11 7RJ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.......................................................................... M J Wind - Trustee

Page 2

Report of the Independent Auditors to the Trustees of Dover Sholem Community Trust

Opinion

We have audited the financial statements of Dover Sholem Community Trust (the 'charity') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Page 3

Report of the Independent Auditors to the Trustees of Dover Sholem Community Trust

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assess compliance with applicable laws and regulations that could reasonably be expected to have a material effect on the financial statements. The key laws and regulations we have considered in this context included the Charities SORP (FRS 102). In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.We discussed with management the extent of compliance with those laws and regulations as part of our audit procedures.
We address the risk of fraud through management override of controls, by obtaining an understanding of internal control and by designing audit procedures that are appropriate and sufficient. We evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and judgements made by management. We identified and assessed any significant transactions that are unusual or outside the normal course of business, and we incorporated testing of manual journal entries and corrections into our audit approach.

-Our audit procedures were designed to identify and assess risks of material misstatement in the financial statements, whether due to fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve collusion, forgery, omissions, misrepresentations, or management override of controls. We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations.

-There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion. Our responsibility is to conclude whether the financial statements represent the underlying financial position and activities of the charity and to ensure that the overall content and presentation of the financial statements gives a fair view.

Page 4

Report of the Independent Auditors to the Trustees of Dover Sholem Community Trust

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Martin+Heller Chartered Accountants and Registered Auditor 5 North End Road London NW11 7RJ

Date: .............................................

Page 5

Dover Sholem Community Trust

Statement of Financial Activities for the Year Ended 31 March 2024

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 2,044,149 EXPENDITURE ON Charitable activities 3 Awards & Student Grants 2,066,390 Other 16,851 Total 2,083,241 NET INCOME/(EXPENDITURE) (39,092) RECONCILIATION OF FUNDS Total funds brought forward (11,279) TOTAL FUNDS CARRIED FORWARD (50,371)	Restricted fund £ 60,132 60,132 - 60,132 - - -	31.3.24 Total funds £ 2,104,281 2,126,522 16,851 2,143,373 (39,092) (11,279) (50,371)	31.3.23 Total funds £ 2,470,364 2,425,225 73,497 2,498,722 (28,358) 17,079 (11,279)

The notes form part of these financial statements

Page 6

Dover Sholem Community Trust

Balance Sheet 31 March 2024

Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Debtors 8 493,740 - Cash at bank 5 - 493,745 - CREDITORS Amounts falling due within one year 9 (518,543) - NET CURRENT ASSETS/(LIABILITIES) (24,798) - TOTAL ASSETS LESS CURRENT LIABILITIES (24,798) - CREDITORS Amounts falling due after more than one year 10 (25,573) - NET ASSETS/(LIABILITIES) (50,371) - FUNDS 12 Unrestricted funds TOTAL FUNDS	31.3.24 Total funds £ 493,740 5 493,745 (518,543) (24,798) (24,798) (25,573) (50,371) (50,371) (50,371)	31.3.23 Total funds £ 380,000 - 380,000 (360,379) 19,621 19,621 (30,900) (11,279) (11,279) (11,279)

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. M J Wind - Trustee

The notes form part of these financial statements

Page 7

Dover Sholem Community Trust

Cash Flow Statement for the Year Ended 31 March 2024

Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash (used in)/provided by operating activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 2 Cash and cash equivalents at the end of the reporting period 2	31.3.24 £ (46,780) (1,200) (47,980) (5,327) (5,327) (53,307) (58,394) (111,701)	31.3.23 £ 62,672 (1,200) 61,472 (5,452) (5,452) 56,020 (114,414) (58,394)

The notes form part of these financial statements

Page 8

Dover Sholem Community Trust

Notes to the Cash Flow Statement for the Year Ended 31 March 2024

1.	RECONCILIATION OF NET EXPENDITURE TO NET CASH	FLOW	FROM	FROM	OPERATING	ACTIVITIES
					31.3.24	31.3.23
					£	£
	Net expenditure for the reporting period (as per the Statement of
	Financial Activities)				(39,092)	(28,358)
	Adjustments for:
	Interest paid				1,200	1,200
	Increase in debtors				(113,740)	(100,000)
	Increase in creditors				104,852	189,830
	Net cash (used in)/provided by operations				(46,780)	62,672
2.	ANALYSIS OF CASH AND CASH EQUIVALENTS
					31.3.24	31.3.23
					£	£
	Notice deposits (less than 3 months)				5	-
	Overdrafts included in bank loans and overdrafts falling due within one year				(111,706)	(58,394)
	Total cash and cash equivalents				(111,701)	(58,394)
3.	ANALYSIS OF CHANGES IN NET DEBT
		At 1/4/23			Cash flow	At 31/3/24
			£		£	£
	Net cash
	Cash at bank			-	5	5
	Bank overdraft	(58,394)			(53,312)	(111,706)
		(58,394)			(53,307)	(111,701)
	Debt
	Debts falling due within 1 year	(10,000)			-	(10,000)
	Debts falling due after 1 year	(30,900)			5,327	(25,573)
		(40,900)			5,327	(35,573)
	Total	(99,294)			(47,980)	(147,274)

The notes form part of these financial statements

Page 9

Dover Sholem Community Trust

Notes to the Financial Statements for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. 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 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. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
	31.3.24	31.3.23
	£	£
Donations	2,104,281	2,470,364

continued...

Page 10

Dover Sholem Community Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

3. CHARITABLE ACTIVITIES COSTS

Awards & Student Grants 4. GRANTS PAYABLE Awards & Student Grants Total grants to institutions is comprised as follows: Belz Synagogue Fundd Shefa Chaim The Community Hub Other donations less than £10,000 5. SUPPORT COSTS Other resources expended	31.3.24 £ 2,126,522		Grant funding of activities (see note 4) £ 2,126,522 31.3.23 £ 2,425,225
			52,000
			100,430
			68,650
			17,530
			31,540


			270,150


		Governance costs £ 16,851

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

continued...

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Dover Sholem Community Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,470,364 EXPENDITURE ON Charitable activities Awards & Student Grants 2,425,225 Other 73,497 Total 2,498,722 NET INCOME/(EXPENDITURE) (28,358) RECONCILIATION OF FUNDS Total funds brought forward 17,079 TOTAL FUNDS CARRIED FORWARD (11,279) 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 11) Trade creditors Other creditors		Restricted fund £ - - - - - - - 31.3.24 £ 493,740 31.3.24 £ 121,706 2,136 394,701 518,543		Total funds £ 2,470,364 2,425,225 73,497 2,498,722 (28,358) 17,079 (11,279) 31.3.23 £ 380,000 31.3.23 £ 68,394 6,031 285,954 360,379

continued...

Page 12

Dover Sholem Community Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years 12. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	At 1/4/23 £ (11,279) (11,279) Incoming resources £ 2,044,149 60,132 2,104,281	31.3.24 £ 25,573 31.3.24 £ 111,706 10,000 121,706 10,000 15,573 Net movement in funds £ (39,092) (39,092) Resources expended £ (2,083,241) (60,132) (2,143,373)	31.3.23 £ 30,900 31.3.23 £ 58,394 10,000 68,394 10,000 20,900 At 31/3/24 £ (50,371) (50,371) Movement in funds £ (39,092) - (39,092)

continued...

Page 13

Dover Sholem Community Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/4/22 £ Unrestricted funds General fund 17,079 TOTAL FUNDS 17,079 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 2,470,364 TOTAL FUNDS 2,470,364 A current year 12 months and prior year 12 months combined position is as follows: At 1/4/22 £ Unrestricted funds General fund 17,079 TOTAL FUNDS 17,079	Net movement in funds £ (28,358) (28,358) Resources expended £ (2,498,722) (2,498,722) Net movement in funds £ (67,450) (67,450)	At 31/3/23 £ (11,279) (11,279) Movement in funds £ (28,358) (28,358) At 31/3/24 £ (50,371) (50,371)

		At

continued...

Page 14

Dover Sholem Community Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

12. 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 £ 4,514,513 60,132 4,574,645	Resources expended £ (4,581,963) (60,132) (4,642,095)	Movement in funds £ (67,450) - (67,450)

13. RELATED PARTY DISCLOSURES

Mr M J Wind is also a trustee of The Talmud Torah Machzikei Hadass Trust.

Donations received from The Talmud Torah Machzikei Hadass Trust during the year amounted to £51,750.

Page 15

Dover Sholem Community Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Charitable activities Grants to institutions Grants,Training & SEN services Support costs Governance costs Auditors' remuneration Professional fees Bank charges Bank loan interest Total resources expended Net expenditure	31.3.24 £ 2,104,281 2,104,281 270,150 1,856,372 2,126,522 1,200 - 14,451 1,200 16,851 2,143,373 (39,092)	31.3.23 £ 2,470,364 2,470,364 241,464 2,183,761 2,425,225 1,800 60,000 10,497 1,200 73,497 2,498,722 (28,358)

This page does not form part of the statutory financial statements

Page 16