REGISTERED CHARITY NUMBER: 1144287
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
FOR
RISE AND SHINE
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
RISE AND SHINE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Statement of Cash Flows | 6 | ||
| Notes to the Statement of Cash Flows | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
RISE AND SHINE
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
TRUSTEES Rabbi M Stern B Steiner I Zig PRINCIPAL ADDRESS 85 Moundfield Road Stamford Hill London N16 6TD REGISTERED CHARITY 1144287 NUMBER INDEPENDENT EXAMINER Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Page 1
RISE AND SHINE
REPORT OF THE TRUSTEES FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
The trustees present their report with the financial statements of the charity for the period 1 December 2019 to 31 December 2020. 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 principal activities of the charity in the year under review were that of the advancement of education and religious practice for children and young people in accordance with the teachings of the Orthodox Jewish faith,and the relief of poverty.
Significant activities
During the period under review the charity has received donations in the sum of £871,349 (2019: £708,836) and given grants in the sum of £1,044,022 (2019: £995,537).
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 charity for the public benefit are detailed in the Objectives and Activities section of the report.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.
FUTURE PLANS
The Trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Rise and Shine is constituted by trust deed dated 30th June 2011.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training 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.
Approved by order of the board of trustees on 31 October 2021 and signed on its behalf by:
B Steiner - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RISE AND SHINE
Independent examiner's report to the trustees of Rise and Shine
I report to the charity trustees on my examination of the accounts of Rise and Shine (the Trust) for the period 1 December 2019 to 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 A.C.A which is one of the listed bodies.
I have completed my examination. I 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do 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.
Malcolm Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
31 October 2021
Page 3
RISE AND SHINE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 EXPENDITURE ON Charitable activities 3 Governing cost Donations and grants Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Period 1.12.19 to 31.12.20 Unrestricted fund £ 871,348 997 1,045,462 180 1,046,639 (175,291) (191,202) (366,493) |
Year ended 30.11.19 Total funds £ 708,835 2,613 995,537 139 998,289 (289,454) 98,252 (191,202) |
|---|---|---|
The notes form part of these financial statements
Page 4
RISE AND SHINE
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2020
| 31.12.20 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 5,652 CURRENT ASSETS Cash at bank 8,260 CREDITORS Amounts falling due within one year 9 (380,405) NET CURRENT ASSETS/(LIABILITIES) (372,145) TOTAL ASSETS LESS CURRENT LIABILITIES (366,493) NET ASSETS/(LIABILITIES) (366,493) FUNDS 10 Unrestricted funds (366,493) TOTAL FUNDS (366,493) |
30.11.19 Total funds £ 6,649 20,383 (218,234) (197,851) (191,202) (191,202) (191,202) (191,202) |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2021 and were signed on its behalf by:
M Stern - Trustee
The notes form part of these financial statements
Page 5
RISE AND SHINE
STATEMENT OF CASH FLOWS FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
Period 1.12.19 to Year ended 31.12.20 30.11.19 £ £ (12,123) 14,346 (12,123) 14,346 (12,123) 14,346 20,383 6,037 8,260 20,383 |
Period 1.12.19 to Year ended 31.12.20 30.11.19 £ £ (12,123) 14,346 (12,123) 14,346 (12,123) 14,346 20,383 6,037 8,260 20,383 |
|---|---|---|
| 14,346 | ||
| 14,346 6,037 |
||
| 20,383 |
The notes form part of these financial statements
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RISE AND SHINE
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM ACTIVITIES |
OPERATING | OPERATING |
|---|---|---|
| Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Decrease in debtors Increase in creditors Net cash (used in)/provided by operations |
Period 1.12.19 to Year ended 31.12.20 30.11.19 £ £ (175,291) (289,454) 997 1,173 - 85,532 162,171 217,095 (12,123) 14,346 |
|
| 14,346 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At Net cash Cash at bank Total |
1.12.19 Cash flow At 31.12.20 £ £ £ 20,383 (12,123) 8,260 20,383 (12,123) 8,260 20,383 (12,123) 8,260 |
1.12.19 Cash flow At 31.12.20 £ £ £ 20,383 (12,123) 8,260 20,383 (12,123) 8,260 20,383 (12,123) 8,260 |
|---|---|---|
| 8,260 | ||
| 8,260 |
The notes form part of these financial statements
Page 7
RISE AND SHINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
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.
Critical accounting judgements and key sources of estimation uncertainty
The preparation of financial statement requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
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.
continued...
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RISE AND SHINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
2. DONATIONS AND LEGACIES
| Donations 3. CHARITABLE ACTIVITIES COSTS Governing cost Donations and grants 4. GRANTS PAYABLE Donations and grants 5. SUPPORT COSTS Other resources expended Donations and grants |
Direct Costs £ 997 - 997 |
Grant funding of activities (see note 4) £ - 1,044,022 1,044,022 Finance £ 180 - 180 |
|
|---|---|---|---|
continued...
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RISE AND SHINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 December 2020 nor for the year ended 30 November 2019.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 December 2020 nor for the year ended 30 November 2019.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 708,835 |
| EXPENDITURE ON | |
| Charitable activities | |
| Governing cost | |
| 2,613 | |
| Donations and grants | |
| 995,537 | |
| Other | 139 |
| Total | 998,289 |
| NET INCOME/(EXPENDITURE) | (289,454) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 98,252 |
| TOTAL FUNDS CARRIED FORWARD | (191,202) |
continued...
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RISE AND SHINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
8. TANGIBLE FIXED ASSETS
| COST At 1 December 2019 and 31 December 2020 DEPRECIATION At 1 December 2019 Charge for year At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 30 November 2019 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1.12.19 £ Unrestricted funds General fund (191,202) TOTAL FUNDS (191,202) Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 871,348 TOTAL FUNDS 871,348 |
31.12.20 £ 380,405 Net movement in funds £ (175,291) (175,291) Resources expended £ (1,046,639) (1,046,639) |
Fixtures and fittings £ 10,827 4,178 997 5,175 5,652 6,649 30.11.19 £ 218,234 At 31.12.20 £ (366,493) (366,493) Movement in funds £ (175,291) (175,291) |
|---|---|---|
continued...
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RISE AND SHINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.12.18 £ Unrestricted funds General fund 98,252 TOTAL FUNDS 98,252 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 708,835 TOTAL FUNDS 708,835 |
Net movement At in funds 30.11.19 £ £ (289,454) (191,202) (289,454) (191,202) Resources Movement expended in funds £ £ (998,289) (289,454) (998,289) (289,454) |
|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 December 2020.
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