**REGISTERED CHARITY NUMBER: 1144287**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 2023**
|||**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|14|
**RISE AND SHINE**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023**
**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
Page 1
**RISE AND SHINE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 £869,088 (2022: £897,432) and given grants in the sum of £682,863 (2022: £963,033).
## **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 controlled by its governing document, a trust deed dated 30th June 2011 and constitutes an unincorporated charity.
## **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 the charity and no benefits or expenses were paid in the year.
Page 2
**RISE AND SHINE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **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 30 October 2024 and signed on its behalf by:
B Steiner - Trustee
Page 3
## **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 2023.
## **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 member of the Institute of Chartered Accountants in England and Wales, 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
30 October 2024
Page 4
## **RISE AND SHINE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|||31.12.23|31.12.22|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies|2|869,088|897,432|
|Investment income|3|10|-|
|**Total**||869,098|897,432|
|**EXPENDITURE ON**||||
|**Charitable activities**|4|||
|Donations and grants||||
|||854,446|965,606|
|Other||14,715|3,572|
|**Total**||869,161|969,178|
|**NET INCOME/(EXPENDITURE)**||(63)|(71,746)|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward||(289,103)|(217,357)|
|**TOTAL FUNDS CARRIED FORWARD**||(289,166)|(289,103)|
The notes form part of these financial statements
Page 5
## **RISE AND SHINE**
## **STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023**
|31.12.23
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
9
3,471
**CURRENT ASSETS**
Debtors
10
138,000
Cash at bank
24,987
162,987
**CREDITORS**
Amounts falling due within one year
11
(455,624)
**NET CURRENT ASSETS/(LIABILITIES)**
(292,637)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
(289,166)
**NET ASSETS/(LIABILITIES)**
(289,166)
**FUNDS**
13
Unrestricted funds
(289,166)
**TOTAL FUNDS**
(289,166)|31.12.22
Total
funds
£
4,084
30,000
3,952
33,952
(327,139)
(293,187)
(289,103)
(289,103)
(289,103)
(289,103)|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 October 2024 and were signed on its behalf by:
M Steren - Trustee
The notes form part of these financial statements
Page 6
## **RISE AND SHINE**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Interest received
Net cash provided by investing activities
**Cash flows from financing activities**
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing 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**|31.12.23
£
27,570
(964)
26,606
10
10
-
(5,581)
(5,581)
21,035
3,952
24,987|31.12.22
£
(152,326)
(1,626)
(153,952)
-
-
42,116
-
42,116
(111,836)
115,788
3,952|
|---|---|---|
The notes form part of these financial statements
Page 7
**RISE AND SHINE**
## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Interest paid
Increase in debtors
Increase/(decrease) in creditors
**Net cash provided by/(used in) operations**|31.12.23
£
(63)
613
(10)
964
(108,000)
134,066
27,570|31.12.22
£
(71,746)
720
-
1,626
(30,000)
(52,926)
(152,326)|
|---|---|---|
## **2. ANALYSIS OF CHANGES IN NET DEBT**
||At 1.1.23|Cash flow|At 31.12.23|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|3,952|21,035|24,987|
||3,952|21,035|24,987|
|**Debt**||||
|Debts falling due within 1 year|(42,116)|5,581|(36,535)|
||(42,116)|5,581|(36,535)|
|**Total**|(38,164)|26,616|(11,548)|
The notes form part of these financial statements
Page 8
**RISE AND SHINE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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...
Page 9
## **RISE AND SHINE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**2.**
**DONATIONS AND LEGACIES**
Donations
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**CHARITABLE ACTIVITIES COSTS**
Donations and grants
**5.**
**GRANTS PAYABLE**
Donations and grants
**6.**
**SUPPORT COSTS**
Other resources expended|31.12.23
£
869,088
31.12.23
£
10
Grant
funding of
activities
Direct
(see note
Costs
5)
£
£
171,583
682,863
31.12.23
£
682,863
Governance
Finance
costs
£
£
143
13,608|31.12.22
£
897,432|
|---|---|---|
|||31.12.22
£
-
Totals
£
854,446|
|||31.12.22
£
963,033|
|||Totals
£
13,751|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
continued...
Page 10
## **RISE AND SHINE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**8.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||
|---|---|---|
|||Unrestricted|
|||fund|
|||£|
||**INCOME AND ENDOWMENTS FROM**||
||Donations and legacies|897,432|
||**EXPENDITURE ON**||
||**Charitable activities**||
||Donations and grants||
|||965,606|
||Other|3,572|
||**Total**|969,178|
||**NET INCOME/(EXPENDITURE)**|(71,746)|
||**RECONCILIATION OF FUNDS**||
||Total funds brought forward|(217,357)|
||**TOTAL FUNDS CARRIED FORWARD**|(289,103)|
|**9.**|**TANGIBLE FIXED ASSETS**||
|||Fixtures|
|||and|
|||fittings|
|||£|
||**COST**||
||At 1 January 2023 and 31 December 2023|10,827|
||**DEPRECIATION**||
||At 1 January 2023|6,743|
||Charge for year|613|
||At 31 December 2023|7,356|
||**NET BOOK VALUE**||
||At 31 December 2023|3,471|
||At 31 December 2022|4,084|
continued...
Page 11
**RISE AND SHINE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 12)
Other creditors
**12.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans|31.12.23
£
138,000
31.12.23
£
36,535
419,089
455,624
31.12.23
£
36,535|31.12.22
£
30,000|
|---|---|---|
|||31.12.22
£
42,116
285,023|
|||327,139|
|||31.12.22
£
42,116|
Included within creditors due after more than one year is the amount of £36,535 (2022: £42,116) due under the Bounce Back Loan Scheme (BBLS). This loan is unsecured, guaranteed by the government, and attracts an interest rate of 2.5% after the interest free period in the first year.
## **13. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.23
£
(289,103)
(289,103)
Incoming
resources
£
869,098
869,098|Net
movement
At
in funds
31.12.23
£
£
(63)
(289,166)
(63)
(289,166)
Resources
Movement
expended
in funds
£
£
(869,161)
(63)
(869,161)
(63)|At
31.12.23
£
(289,166)|
|---|---|---|---|
||||(289,166)|
||||(63)|
continued...
Page 12
**RISE AND SHINE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.22
£
(217,357)
(217,357)|Net
movement
in funds
£
(71,746)
(71,746)|At
31.12.22
£
(289,103)
(289,103)|
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
897,432
897,432|Resources
Movement
expended
in funds
£
£
(969,178)
(71,746)
(969,178)
(71,746)|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.22
£
(217,357)
(217,357)|Net
movement
in funds
£
(71,809)
(71,809)|At
31.12.23
£
(289,166)
(289,166)|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,766,530|(1,838,339 )|(71,809)|
|**TOTAL FUNDS**|1,766,530|(1,838,339 )|(71,809)|
continued...
Page 13
**RISE AND SHINE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **14. RELATED PARTY DISCLOSURES**
Included within other creditors is the amount of £240,450 (2022: £180,450) which represents the amount owed to the company by Vishnitz Girls School Limited. The charity and Vishnitz Girls School Limited share a common trustee.
Page 14