REGISTERED CHARITY NUMBER: 1144287
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 YEAR ENDED 31 DECEMBER 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Statement of Cash Flows | 7 | ||
| Notes to the Statement of Cash Flows | 8 | ||
| Notes to the Financial Statements | 9 | to | 13 |
RISE AND SHINE
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2021
TRUSTEES Rabbi M Steren 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
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RISE AND SHINE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees 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 principal objects of the charity in the year under review were that of:
1) the advancement of education and religious practice for children and young people in accordance with the teachings of the Orthodox Jewish faith, and
2) the relief of poverty.
Significant activities
During the year under review, the charity provided grants to achieve its objectives of promoting the Orthodox Jewish faith for public benefit as well as other charitable purposes.
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.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the period under review the charity has received donations in the sum of £961,554 (2020: £871,348) and given grants in the sum of £807,602 (2020: £1,044,022).
FINANCIAL REVIEW
Principal funding sources
The charity is dependent on generous donations from the donors.
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.
Organisational structure
The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in thecharity and no benefits or expenses were paid in the year.
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.
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RISE AND SHINE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Approved by order of the board of trustees on 31 October 2022 and signed on its behalf by:
B Steiner - Trustee
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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 year ended 31 December 2021.
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 2022
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RISE AND SHINE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 EXPENDITURE ON Charitable activities 3 Donations and grants Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Year ended 31.12.21 Unrestricted fund £ 961,554 808,450 3,968 812,418 149,136 (366,493) (217,357) |
Period 1.12.19 to 31.12.20 Total funds £ 871,348 1,046,459 180 1,046,639 (175,291) (191,202) (366,493) |
|---|---|---|
The notes form part of these financial statements
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RISE AND SHINE
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2021
| 31.12.21 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 4,804 CURRENT ASSETS Cash at bank 115,788 CREDITORS Amounts falling due within one year 9 (337,949) NET CURRENT ASSETS/(LIABILITIES) (222,161) TOTAL ASSETS LESS CURRENT LIABILITIES (217,357) NET ASSETS/(LIABILITIES) (217,357) FUNDS 10 Unrestricted funds (217,357) TOTAL FUNDS (217,357) |
31.12.20 Total funds £ 5,652 8,260 (380,405) (372,145) (366,493) (366,493) (366,493) (366,493) |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2022 and were signed on its behalf by:
M Steren - Trustee
The notes form part of these financial statements
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RISE AND SHINE
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021
| Year ended 31.12.21 Notes £ Cash flows from operating activities Cash generated from operations 1 107,528 Net cash provided by/(used in) operating activities 107,528 Change in cash and cash equivalents in the reporting period 107,528 Cash and cash equivalents at the beginning of the reporting period 8,260 Cash and cash equivalents at the end of the reporting period 115,788 |
Period 1.12.19 to 31.12.20 £ (12,123) (12,123) (12,123) 20,383 8,260 |
|---|---|
The notes form part of these financial statements
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RISE AND SHINE
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES |
|
|---|---|
| Year ended 31.12.21 £ Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) 149,136 Adjustments for: Depreciation charges 848 (Decrease)/increase in creditors (42,456) Net cash provided by/(used in) operations 107,528 |
Period 1.12.19 to 31.12.20 £ (175,291) 997 162,171 |
| (12,123) |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.21 | Cash flow | At 31.12.21 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 8,260 | 107,528 | 115,788 |
| 8,260 | 107,528 | 115,788 | |
| Total | 8,260 | 107,528 | 115,788 |
The notes form part of these financial statements
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RISE AND SHINE
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 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.
Governance costs
Goverance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
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 YEAR ENDED 31 DECEMBER 2021
2. DONATIONS AND LEGACIES
| Donations 3. CHARITABLE ACTIVITIES COSTS Donations and grants 4. GRANTS PAYABLE Donations and grants 5. SUPPORT COSTS Other resources expended |
Direct Costs £ 848 Finance £ 168 |
Year ended 31.12.21 £ 961,554 Grant funding of activities (see note 4) £ 807,602 Year ended 31.12.21 £ 807,602 Governance costs £ 3,800 |
Period 1.12.19 to 31.12.20 £ 871,348 Totals £ 808,450 Period 1.12.19 to 31.12.20 £ 1,044,022 |
Period 1.12.19 to 31.12.20 £ 871,348 |
|---|---|---|---|---|
| Totals £ 808,450 |
||||
| Totals £ 3,968 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the period ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the period ended 31 December 2020.
continued...
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RISE AND SHINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Donations and grants Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS COST At 1 January 2021 and 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 |
Unrestricted fund £ 871,348 1,046,459 180 1,046,639 (175,291) (191,202) (366,493) Fixtures and fittings £ 10,827 5,175 848 6,023 4,804 5,652 |
|---|---|
continued...
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RISE AND SHINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 10. MOVEMENT IN FUNDS At 1.1.21 £ Unrestricted funds General fund (366,493) TOTAL FUNDS (366,493) Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 961,554 TOTAL FUNDS 961,554 Comparatives for movement in funds At 1.12.19 £ Unrestricted funds General fund (191,202) TOTAL FUNDS (191,202) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 871,348 TOTAL FUNDS 871,348 |
31.12.21 £ 337,949 Net movement in funds £ 149,136 149,136 Resources expended £ (812,418) (812,418) Net movement in funds £ (175,291) (175,291) Resources expended £ (1,046,639) (1,046,639) |
31.12.20 £ 380,405 At 31.12.21 £ (217,357) (217,357) Movement in funds £ 149,136 149,136 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 YEAR ENDED 31 DECEMBER 2021
11. RELATED PARTY DISCLOSURES
Creditors include the sum of £180,450 (2020: £180,450) owed to Vishnitz Girls School Ltd, a charity with common trustees.
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