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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 07442727 (England and Wales) REGISTERED CHARITY NUMBER: 1140342

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11a London N4 1TJ

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 16

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 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 31 December 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 objects of the charity are:

(i) The advancement of the Jewish religion and Jewish religious education in accordance with the principles of Chabad Lubavitch.

(ii) The relief of poverty in particular but not exclusively by providing training and advisory services to poor people to enable them to acquire skills equipping them for life and for earning a livelihood. (iii) The advancement of education.

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. In particular, the trustees consider how planned activities will contribute to the aims and objectives set.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Based on the Chabad Lubavitch teachings and philosophy, Chabad Lubavitch of Bloomsbury - Central London operates a Chabad House that provides Jewish educational classes, cultural resources, welfare resources and religious services in central London. We focus primarily, although by no means exclusively, on young people. Our resources and services are available to all people.

This year has been an interesting year. With the obvious great challenges, as well as the opportunities to behold the positive spirit and generosity of the people around us.

COVID-19

After the challenges experienced as a result of the coronavirus outbreak in 2020, 2021 began with some of the same challenges, with some enhanced due to the length of time these challenges had been going on for. It also brought a new set of opportunities, when restrictions began to be eased and we started to be able to welcome people back on site for social events, gradually, in the second half of the year.

We discovered a great demand for in-person events and, with due caution, did what we could to meet this demand. We also supported those who were not yet ready for this, maintaining a 'hybrid' set up so as to best accommodate as large a base as possible. This of course meant that as a charity we were extremely busy, working to support various different needs in different kinds of settings.

An example is Purim, early in 2021. We hosted in-person, Covid-secure readings of the Megillah at our centre. In order to accommodate as many people as possible we did multiple readings, each with a limited number in attendance. In addition, we broadcast the readings live on Zoom for those unable to make it. We facilitated for people to participate in the other Mitzvos of Purim online, such as an innovative partnership offering Mishloach Manos - gifts of food to friends - through Deliveroo and Matanos Lo'evyonim - gifts to the poor - online and via text message. In lieu of an in-person celebratory event, we helped organise an online event, with a well-known Jewish comedian performing via Zoom for many hundreds of people in dozens of locations across Europe.

For Pesach we once again offered our Pesach in a box option, also in partnership with Deliveroo.

By the time the High Holy Days came around, the restrictions had been mostly relaxed and we were able to start offering much more on site, including Festive meals. We were also able to organise Sukkos in person, in addition to the Sukkah on wheels.

Page 1

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

For Chanukah we had multiple Chanukah Menorahs up for the entire Festival, with daily lightings at several of them, such as at UCL and LSE. We also participated in a grand Chanukah party for students across various universities. In order to accommodate those unwilling or unable to meet in-person, we also provided online options as we did in 2020.

Chanukah also saw a horrible anti-semitic incident on Oxford Street, in the heart of London, in our neighbourhood. We contacted those affected and decided that the best way to respond, the Jewish way, was to increase in light. We therefore organised a Menorah lighting on the last night of Chanukah at the very spot the attack had taken place the previous week. We were kindly assisted in organising this by Westminster City Council - especially the leader's office - Metropolitan Police, the London Jewish Forum, and the CST. We are grateful to them and to Karen Buck MP, John Howe MP, Deputy Lord Mayor of Westminster Ruth Bush and senior police officers, all of whom joined us at very short notice in solidarity. We are also grateful to Nickie Aiken MP for her support (although she unfortunately couldn't attend). Dozens of people of a variety of backgrounds and ethnicities participated in an important public display of the victory of light over darkness, of freedom over tyranny, of confidence over fear, of good over evil, demonstrating unity and cohesion.

Much of our social welfare programming continued - and sometimes expanded - in 2021.

Fundraising activities

Due to the level of activity in 2021, we were not able to commit as much time to fundraising as we normally would. This is reflected in the lower level of income this year. We also kept a careful watch on outgoings and did not have some of the normal costs we'd have, at least not until the last quarter, when on-site programming restarted in earnest. We brought in less than what we spent, utilising some of the reserves from 2020. For 2022, we will be committing more time to fundraising efforts so that we can go back to a full in-person provision and also expand our programmes and activities.

Thank G-d, our community responded to the new situation in a wonderfully generous and truly humbling manner, with increased investment from existing and new funders. Later in the year we held our first ever matched crowdfunding campaign, which once again illustrated the great generosity of our partners and investors. Thank you very much from the bottom of our hearts to each and every one of our partners and investors, who help us to help others. We are very grateful.

Our volunteers - existing and many new - galvanized and really put in some heavy lifting. We are very grateful to them and we all owe them so much.

We are also very grateful to have received Covid relief grants from the The National Lottery Community Fund, distributed by City Bridge Trust through the London Community Response Fund - thank you to National Lottery players for making this possible - and from the Coronavirus Community Support Fund, distributed by The National Lottery Community Fund. Thank you to the UK Government for making this possible.

In addition, we received support from the UK Government in the form of various lockdown and restart grants distributed via the local authority, for which we are very grateful.

The events of this year have provided much perspective in so many areas. As a charity, we have a renewed focus on our wonderful partners, both those who generously support us and also those who give us the opportunity to support them and who inspire us to no end. We cherish our partnership with you. To all of you, we thank you from the bottom of our hearts, you have taught us so much and provided us with wonderful opportunities. We look forward to continuing our fruitful partnerships with you in better times, helping to make society and the world a better, brighter, more loving and more G-dly place.

In 2017 we purchased premises to serve as the permanent base for the charity and its operations. This is a very exciting development for our charity and will enable us to expand our programmes and our reach. We put our refurbishment plan on hold at the beginning of the crisis but are now working on bringing it to its execution phase please G-d.

Page 2

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCIAL REVIEW

Financial position

The financial results of the charity for the year ended 31 December 2021 are fully reflected in the attached Financial Statements together with the Notes thereon.

Income from donations and other income aggregated £398,102 (2020: £620,190). Total resources expended was £406,943 (2020: £410,985) resulting in net deficit of £8,841 (2020: surplus of £209,205).

Reserves policy

It is the policy of the charity to maintain Unrestricted Funds, which include the Free Reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely costs of the charity for the next year.

As at 31 December 2021, the charity had total unrestricted funds of £1,075,024 (2020: £808,790) and no restricted funds (2020: 21,055). Unrestricted funds includes £254,020 (2020: nil) which arises from the revaluation of the charity's long leasehold property.

FUTURE PLANS

In 2017 we purchased premises to serve as the permanent base for the charity and its operations. This is a very exciting development for our charity and will enable us to expand our programmes and our reach. We put our refurbishment plan on hold at the beginning of the crisis but are now working on bringing it to its execution phase please G-d.

We are very grateful to our general partners for their continued and solid partnership and support in a challenging environment. We also thank our dedicated staff and volunteers who have stepped up with such aplomb in this challenging situation in order to provide much needed assistance to others.

In addition to our emergency Covid-19 response, the charity has developed a five year strategic plan which encompasses five key objectives:

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 the charity and their recognised experience in specific fields which will further support the work of the Jewish Student Centre. Trustees can retire when they wish as they do not serve under a fixed term of tenure.

The trustees, who are also directors for the purpose of company law, administer the charity. The power to appoint new trustees is vested in the current board.

Organisational structure

All trustees give their time voluntarily and receive no benefits from the charity.

Related parties

None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of winding up.

There are no related charities.

Page 3

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07442727 (England and Wales)

Registered Charity number 1140342

Registered office

85 Great Titchfield Street London W1W 6RJ

Trustees

Mr Y Y Kopfstein Mr Y Y Weisz Mr A L Lee

Independent Examiner

Mr Pesach Davidoff FCCA DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11a London N4 1TJ

Approved by order of the board of trustees on 28/09/2022 and signed on its behalf by:

........................................................................ Mr A L Lee - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

Independent examiner's report to the trustees of Chabad Lubavitch of Bloomsbury - Central London ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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 FCCA 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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. 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

  3. 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 Pesach Davidoff FCCA DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11a London N4 1TJ

28 September 2022

Page 5

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
390,617
EXPENDITURE ON
Charitable activities
3
Direct charitable expenditure
289,521
Other charitable expenditure
88,525
Total
378,046
NET INCOME/(EXPENDITURE)
12,571
Transfers between funds
14
(357)
Other recognised gains/(losses)
Gains on revaluation of fixed assets
254,020
Net movement in funds
266,234
RECONCILIATION OF FUNDS
Total funds brought forward
808,790
TOTAL FUNDS CARRIED FORWARD
1,075,024		 2021
Restricted
Total
funds
funds
£
£
7,485
398,102
23,999
313,520
4,898
93,423
28,897
406,943
(21,412)
(8,841)
357
-
-
254,020
(21,055)
245,179
21,055
829,845
-
1,075,024		 2020
Total
funds
£
620,190
302,033
108,952
410,985
209,205
-
-
209,205
620,640
829,845

The notes form part of these financial statements

Page 6

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON (REGISTERED NUMBER: 07442727)

BALANCE SHEET 31 DECEMBER 2021

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
13
NET ASSETS
FUNDS
14
Unrestricted funds:
Unrestricted retained earnings
Revaluation reserve
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
2,339,220
71,852
32,929
104,781
(82,777)
22,004
2,361,224
(1,286,200)
1,075,024		 Restricted
funds
£
-
-
-
-
-
-
-
-
-		 2021
Total
funds
£
2,339,220
71,852
32,929
104,781
(82,777)
22,004
2,361,224
(1,286,200)
1,075,024
821,004
254,020
1,075,024
-
1,075,024		 2020
Total
funds
£
2,092,860
64,796
99,277
164,073
(93,118)
70,955
2,163,815
(1,333,970)
829,845
808,790
-
808,790
21,055
829,845

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 7

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON (REGISTERED NUMBER: 07442727)

BALANCE SHEET - continued 31 DECEMBER 2021

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 28/09/2022 and were signed on its behalf by:

.............................................

Mr A L Lee - Trustee

The notes form part of these financial statements

Page 8

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 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, as modified by the revaluation of certain assets.

The accounts have been prepared on an ongoing basis based on the continued support by the Trustees to meet its liabilities as and when due.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the trustees are requires to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The trustees do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

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.

Tangible fixed assets

Fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

The charity's long leasehold property is included in the Balance Sheet at trustees' best estimate of fair value less accumulated depreciation.

Depreciation

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life

Long leasehold - over the period of the lease
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

continued...

Page 9

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

2. DONATIONS AND LEGACIES

Donations and gifts
Grants received
Event income		 2021
£
349,649
43,000
5,453
398,102		 2020
£
472,354
141,342
6,494
620,190

Donations and gifts include donated assets and services totalling £39,960 (2020: £98,129) as follows:

2021 2020
£ £
Outreach expenses 30,697 31,112
Fixtures and fittings 2,100 43,850
Computer equipment 600 8,750
Telephone and IT 6,563 14,417
39,960 98,129

continued...

Page 10

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

3. CHARITABLE ACTIVITIES COSTS

3.
CHARITABLE ACTIVITIES COSTS		 3.
CHARITABLE ACTIVITIES COSTS		 3.
CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct
activities
Support
Costs (see
(see note
costs (see
note 4)
5)
note 6)
Totals
£
£
£
£
Direct charitable expenditure
192,161
121,359
-
313,520
Other charitable expenditure
-
-
93,423
93,423
192,161
121,359
93,423
406,943
4.
DIRECT COSTS OF CHARITABLE ACTIVITIES
2021
2020
£
£
Staff costs
16,842
10,329
Outreach expenses
172,103
152,400
Advertising and marketing
3,216
2,000
192,161
164,729
5.
GRANTS PAYABLE
2021
2020
£
£
Direct charitable expenditure
121,359
137,304
The total grants paid to institutions during the year was as follows:
2021
2020
£
£
Grants to Institutions
32,813
61,146
All grants paid to institutions went towards one of the following purposes: the relief of poverty, advancement
Jewish religion and advancement of Jewish religious education.
The following grants to institutions were paid during the year:
£
Chabad of Hampstead Garden Suburb Limited
4,336
Chabad Lubavitch UK
3,512
Chabad of Epping
3,500
Less than £3,000
21,465
Total Grants to Institutions
32,813
The total grants paid to individuals during the year was as follows:
2021
2020
£
£
Grants to Individuals
88,546
76,158
£
4,336
3,512
3,500
21,465
32,813
2021
£
88,546		 2020
£
76,158

All grants paid to institutions went towards one of the following purposes: the relief of poverty, advancement of Jewish religion and advancement of Jewish religious education.

continued...

Page 11

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

6. SUPPORT COSTS

SUPPORT COSTS
Governance
Management Finance costs Totals
£ £ £ £
Other charitable expenditure 35,343 55,066 3,014 93,423

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Independent 2021
2020
£
£
Examiner's Fee
2,100
2,100
Depreciation - owned assets
12,751
11,223

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

9. STAFF COSTS

2021 2021 2020 2020
£ £
Wages and salaries 26,038 16,802
Pension costs 618 254
26,656 17,056
The average monthly number of employees during the year was as follows:
Administration
Outreach		 2021
1
1
2		 2020
1
1
2

No employees received emoluments in excess of £60,000.

continued...

Page 12

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 January 2021
Additions
Revaluations
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020
COST OR VALUATION
At 1 January 2021
Additions
Revaluations
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Long
leasehold
property
£
2,000,000
-
254,020
2,254,020
4,020
2,266
6,286
2,247,734
1,995,980
Holy
scrolls
£
19,000
-
-
19,000
-
-
-
19,000
19,000		 Improvements
to
property
£
50,244
-
-
50,244
-
-
-
50,244
50,244
Computer
equipment
£
11,999
927
-
12,926
3,000
3,231
6,231
6,695
8,999		 Fixtures
and
fittings
£
24,850
4,164
-
29,014
6,213
7,254
13,467
15,547
18,637
Totals
£
2,106,093
5,091
254,020
2,365,204
13,233
12,751
25,984
2,339,220
2,092,860

continued...

Page 13

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021
£
Other debtors
31,454
Prepayments and accrued income
40,398
71,852
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Trade creditors
1,251
Social security and other taxes
688
Other creditors
34,072
Bank loans
46,766
82,777
Bank loans of £37,334 are secured by legal charges over the charity's property.
13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021
£
Bank loans
1,286,200
Bank loans of £1,251,278 are secured by legal charges over the charity's property.
14.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.1.21
in funds
funds
£
£
£
Unrestricted funds
Unrestricted retained earnings
808,790
12,571
(357)
Revaluation reserve
-
254,020
-
808,790
266,591
(357)
Restricted funds
The National Lottery Community Fund (via
City Bridge Trust through London
Community Response Fund)
21,055
(21,412)
357
TOTAL FUNDS
829,845
245,179
-		 2020
£
24,554
40,242
64,796
2020
£
4,358
1,163
55,316
32,281
93,118
2020
£
1,333,970
At
31.12.21
£
821,004
254,020
1,075,024
-
1,075,024

continued...

Page 14

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
Unrestricted retained earnings
Revaluation reserve
Restricted funds
The National Lottery Community Fund (via
City Bridge Trust through London
Community Response Fund)
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
Unrestricted retained earnings
Restricted funds
The National Lottery Community Fund (via
City Bridge Trust through London
Community Response Fund)
TOTAL FUNDS		 Incoming
resources
£
390,617
-
390,617
7,485
398,102		 Resources
expended
£
(378,046)
-
(378,046)
(28,897)
(406,943)
At 1.1.20
£
620,640
-
620,640		 Gains and
Movement
losses
in funds
£
£
-
12,571
254,020
254,020
254,020
266,591
-
(21,412)
254,020
245,179
Net
movement
At
in funds
31.12.20
£
£
188,150
808,790
21,055
21,055
209,205
829,845

continued...

Page 15

CHABAD LUBAVITCH OF BLOOMSBURY - CENTRAL LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Unrestricted retained earnings
Restricted funds
Coronavirus Community Support Fund (via
TNLCF)
The National Lottery Community Fund (via
City Bridge Trust through London
Community Response Fund)
TOTAL FUNDS		 Incoming
resources
£
564,233
9,935
46,022
55,957
620,190		 Resources
Movement
expended
in funds
£
£
(376,083)
188,150
(9,935)
-
(24,967)
21,055
(34,902)
21,055
(410,985)
209,205

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

Page 16