Revach Vehazola Trust
Charity No. 1143010
Trustees' Report and Unaudited Accounts
31/07/2021
Revach Vehazola Trust Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 to 11 |
| Detailed Statement of Financial Activities | 12 to 13 |
Page 1
Revach Vehazola Trust Trustees Annual Report
The Trustees present their report with the unaudited financial statements of the charity for the period ended 31/07/2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1143010
Principal Office
10, Zemba House 63 Stamford Hill London N16 5FE
Trustees
The following Trustees served during the year:
M. Monderer Y. Rosenbaum
Accountants
S J Sheldon Ltd 20 Clarence Road Hale Cheshire WA15 8SG
OBJECTIVES AND ACTIVITIES
The charity is constitutes by trust deed dated the 7th July 2011 and is a registered charity The charity's objective is to promote the advancement of the Jewish Religion, education and learning of the Orthodox Jewish Faith, the relief from poverty, the provision of food and drink and assistance for the aged, vulnerable and infirm and such other purposes as recognised by English Law as charitable. These objectives were continued during the year.
ACHIEVEMENTS AND PERFORMANCE
The charity has continued to promote and educate the learning of the Orthodox Jewish Faith.
FINANCIAL REVIEW
The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants, which they deem to be appropriate.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
Revach Vehazola Trust Trustees Annual Report
Signed on behalf of the charity's trustees
Y.B. Rosenbaum Trustee 31/08/2021
Page 3
Revach Vehazola Trust Independent Examiners Report
Independent Examiner's Report to the trustees of Revach Vehazola Trust
I report to the trustees on my examination of the accounts of Revach Vehazola Trust for the period ended 31/07/2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Simon Sheldon Member of the Institute of Financial Accountants.
S J Sheldon Ltd 20 Clarence Road Hale Cheshire
WA15 8SG 31/08/2021
Page 4
Revach Vehazola Trust Statement of Financial Activities for the period ended 31/07/2021
| Notes Income and endowments from: Donations and legacies 2 Total Expenditure on: Charitable activities 3 Other 4 Total Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 31/07/2021 £ 30,352 |
Total funds 31/07/2021 £ 30,352 |
Total funds 31/07/2020 £ 978,662 |
|---|---|---|---|
| 30,352 50,530 285 |
30,352 50,530 285 |
978,662 951,986 26 |
|
| 50,815 - |
50,815 - |
952,012 - |
|
| (20,463) - |
(20,463) - |
26,650 - |
|
| (20,463) | (20,463) | 26,650 | |
| (20,463) 5,591 |
(20,463) 5,591 |
26,650 (21,059) |
|
| (14,872) | (14,872) | 5,591 |
Page 5
Revach Vehazola Trust Balance Sheet at 31/07/2021
| Charity No. 1143010 Fixed assets Investments 6 Current assets Debtors 7 Cash at bank and in hand Creditors:Amount falling due within one year 8 Net current assets/(liabilities) Total assets less current liabilities Creditors:Amounts falling due after more than one year 9 Net (liabilities)/assets excluding pension asset or liability Total net (liabilities)/assets The funds of the charity Restricted funds 10 Unrestricted funds 10 General funds Reserves 10 Total funds Approved by the trustees on 31/08/2021 And signed on their behalf by: |
31/07/2021 £ 30,000 30,000 111,772 19,332 131,104 (125,976) 5,128 35,128 (50,000) (14,872) (14,872) (14,872) (14,872) (14,872) |
31/07/2020 £ 30,000 |
|---|---|---|
| 30,000 101,772 50,544 |
||
| 152,316 (176,725) |
||
| (24,409) 5,591 - |
||
| 5,591 | ||
| 5,591 | ||
| 5,591 | ||
| 5,591 | ||
| 5,591 | ||
Y.B. Rosenbaum Trustee 31/08/2021
Page 6
Revach Vehazola Trust Notes to the Accounts
for the period ended 31/07/2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with Where income has related expenditure the income and related expenditure is related expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
Revach Vehazola Trust Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
Revach Vehazola Trust
Notes to the Accounts
2 Income from donations and legacies
| Gifts and donations 3 Expenditure on charitable activities Expenditure on charitable activities Governance costs Support costs 4 Other expenditure Motor and travel costs General administrative costs |
Unrestricted £ 30,352 30,352 Unrestricted £ 50,000 530 - 50,530 Unrestricted £ - 255 30 285 |
Total 31/07/2021 £ 30,352 30,352 Total 31/07/2021 £ 50,000 530 - 50,530 Total 31/07/2021 £ - 255 30 285 |
Total 31/07/2020 £ 978,662 |
|---|---|---|---|
| 978,662 | |||
| Total 31/07/2020 £ 930,222 - 21,764 |
|||
| 951,986 | |||
| Total 31/07/2020 £ 26 - - |
|||
| 26 |
5 Staff costs
No employee received emoluments in excess of £60,000 (2020: NIL)
6 Investments
| Cost or revaluation At 8 January 2020 At 31/07/2021 Net book values At 31/07/2021 At 7 January 2020 |
Freehold Investment Property £ 30,000 30,000 30,000 30,000 |
Total £ 30,000 |
|---|---|---|
| 30,000 | ||
| 30,000 | ||
| 30,000 | ||
| The charity has a freehold property investment |
Page 9
Revach Vehazola Trust Notes to the Accounts
| 7 Debtors Trade debtors Other debtors 8 Creditors: amounts falling due within one year Trade creditors Other creditors Accruals and deferred income |
31/07/2021 £ 10,000 101,772 111,772 31/07/2021 £ 1,614 124,362 - 125,976 |
31/07/2020 £ - 101,772 |
||
|---|---|---|---|---|
| 101,772 | ||||
| 31/07/2020 £ 1,359 173,926 1,440 |
||||
| 176,725 | ||||
| 9 Creditors: amounts falling due after more than one year Bank loans and overdrafts 10 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds 11 Analysis of net assets between funds |
At 01/08/2020 5,591 5,591 |
31/07/2021 £ 50,000 50,000 |
31/07/2020 £ - |
|
| - | ||||
| Incoming resources (including other gains/losses ) £ 30,352 30,352 Unrestricted funds £ |
Resources expended £ (50,815) (50,815) Restricted funds £ |
At 31/07/2021 £ (14,872) |
||
| (14,872) | ||||
| Total £ |
||||
| Investments | 30,000 | - | 30,000 | |
| Net current assets Creditors due in more than one year and provisions |
(4,872) (50,000) (24,872) |
10,000 - 10,000 |
5,128 (50,000) |
|
| (14,872) |
Page 10
Revach Vehazola Trust Notes to the Accounts
12 Reconciliation of net debt
| Cash and cash equivalents Bank loans Net debt |
At 8 January 2020 £ |
Cash flows £ |
At 31/07/2021 £ |
|---|---|---|---|
| 50,544 | (31,212) | 19,332 | |
| 50,544 - |
(31,212) | 19,332 (50,000) |
|
| (50,000) | |||
| - 50,544 |
(50,000) (81,212) |
(50,000) | |
| (30,668) | |||
Page 11
Revach Vehazola Trust Detailed Statement of Financial Activities
for the period ended 31/07/2021
| Income and endowments from: Donations and legacies Gifts and donations Total income and endowments Expenditure on: Charitable activities Governance costs Support costs Total of expenditure on charitable activities Other expenditure Motor and travel costs Vehicles - General costs General administrative costs, including depreciation and amortisation Bank charges Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: |
Unrestricted funds 31/07/2021 £ 30,352 30,352 30,352 50,000 530 50,530 - - 50,530 - - 255 255 30 30 285 50,815 - (20,463) (20,463) - (20,463) |
Total funds 31/07/2021 £ 30,352 30,352 30,352 50,000 530 50,530 - - 50,530 - - 255 255 30 30 285 50,815 - (20,463) (20,463) - (20,463) |
Total funds 31/07/2020 £ 978,662 |
|---|---|---|---|
| 978,662 | |||
| 978,662 930,222 - |
|||
| 930,222 | |||
| 21,764 | |||
| 21,764 | |||
| 951,986 26 |
|||
| 26 | |||
| - | |||
| - | |||
| - | |||
| - | |||
| 26 | |||
| 952,012 - |
|||
| 26,650 | |||
| 26,650 - |
|||
| 26,650 | |||
Page 12
Revach Vehazola Trust Detailed Statement of Financial Activities
| Revach Vehazola Trust Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total funds brought forward Total funds carried forward |
5,591 (14,872) |
5,591 (14,872) |
(21,059) |
| 5,591 |
Page 13