REGISTERED COMPANY NUMBER: 07522813 (England and Wales) REGISTERED CHARITY NUMBER: 1145657
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 January 2023
for
South Tottenham Kehila Limited
Jones & Partners Limited 2nd Floor, Butler House 177-178 Tottenham Court Road London W1T 7AF
South Tottenham Kehila Limited
Contents of the Financial Statements for the Year Ended 31 January 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
South Tottenham Kehila Limited
Reference and Administrative Details for the Year Ended 31 January 2023
TRUSTEES
A Brecher (appointed 10.8.22) Ms D Hager (appointed 10.8.22) C M Biberfeld (resigned 06.10.22)] D B Friedman (resigned 10.8.22) B Povarski (resigned 10.8.22)
REGISTERED OFFICE
2nd Floor, Butler House 177-178 Tottenham Court Road London W1T 7AF
REGISTERED COMPANY 07522813 (England and Wales) NUMBER
REGISTERED CHARITY 1145657 NUMBER
INDEPENDENT EXAMINER
Jones & Partners Limited 2nd Floor, Butler House 177-178 Tottenham Court Road London W1T 7AF
Page 1
South Tottenham Kehila Limited
Report of the Trustees for the Year Ended 31 January 2023
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 January 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 Trustees aim to promote the advancement of the orthodox Jewish faith in accordance with the teachings and practices of Judaism.
Significant activities
The charity administers the Synagogue and ensures that it is managed in a legal, correct and efficient manner. The Synagogue caters for the need of traditional members of the Jewish faith. It is opened every day of the year for organised prayer, and public and private learning. It organises cultural and social events and provides social welfare for those in need.
Public benefit
The Trustees have taken account of the statutory reporting introduced in 2009 to illustrate how in practice the activities of the Charity meet the legal public benefit requirement. In this respect, the Trustees have noted and paid due regard to the Charity Commission's statutory guidance that is relevant to the Charity's mission, and have indicated in this report the activities which illustrate how the Charity's work fulfils its mission and the significant benefits it brings to individuals and communities in poverty areas, irrespective of their race, religion or creed.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. Wherever possible, it involves others, so that the Charity's funds are leveraged by money, services and personnel provided by others, with the burden of risk, safeguarding and similar issues borne by such others.
FINANCIAL REVIEW
Financial position
The Statement of Financial Activities for the period is set out on Page 4 of this Report and Financial Statements
The Trustees are satisfied with the period's result and the period end financial position.
Reserves policy
The Trustees have reviewed the reserves of the charity whose policy is to try to retain sufficient funds to meet all foreseeable expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a company limited by shares. The charity's governing instruments are its Memorandum and Articles.
Appointment of new trustees
New Trustees are recruited and appointed by the existing Trustees as required. Any new appointment of trustees will be followed by suitable induction and training to ensure the new Trustees understand the nature of the charity and their responsibilities.
Organisational structure
The directors of the company are its Trustees for the purposes of charity law, and throughout the report and financial statements they are referred to interchangeably as Directors or Trustees.
The Board of Trustees manage and administer the Charity.
The Trustees do not have any beneficial interest in the company.
Page 2
South Tottenham Kehila Limited
Report of the Trustees for the Year Ended 31 January 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that procedures are in place to mitigate exposure to them.
Approved by order of the board of trustees on …………………. and signed on its behalf by:
A Brecher - Trustee
Page 3
Independent Examiner's Report to the Trustees of South Tottenham Kehila Limited
Independent examiner's report to the trustees of South Tottenham Kehila Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2023.
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
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:
-
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
-
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
-
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.
Jeffrey Lishak
Jones & Partners Limited 2nd Floor, Butler House 177-178 Tottenham Court Road London W1T 7AF
Page 4
South Tottenham Kehila Limited
Statement of Financial Activities for the Year Ended 31 January 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 36,605 | 23,928 |
| Investment income | 3 | 25,000 | 25,000 |
| Total | 61,605 | 48,928 | |
| EXPENDITURE ON | |||
| Raising funds | 9,010 | 3,625 | |
| Other | 27,595 | 25,190 | |
| Total | 36,605 | 28,815 | |
| NET INCOME | 25,000 | 20,113 | |
| Other recognised gains/(losses) | |||
| Gains on revaluation of fixed assets | - | 1,335,993 | |
| Net movement in funds | 25,000 | 1,356,106 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,552,455 | 196,349 | |
| TOTAL FUNDS CARRIED FORWARD | 1,577,455 | 1,552,455 |
The notes form part of these financial statements
Page 5
South Tottenham Kehila Limited
Balance Sheet 31 January 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 3,000,000 CURRENT ASSETS Debtors 8 59,019 Cash at bank 30 59,049 CREDITORS Amounts falling due within one year 9 (1,481,594) NET CURRENT ASSETS (1,577,455) TOTAL ASSETS LESS CURRENT LIABILITIES 1,557,455 NET ASSETS 1,557,455 FUNDS 10 Unrestricted funds 1,557,455 TOTAL FUNDS 1,557,455 |
2022 Total funds £ 3,000,000 34,019 30 34,049 (1,481,594) (1,447,545) 1,552,455 1,552,455 1,552,455 1,552,455 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
South Tottenham Kehila Limited
Balance Sheet - continued 31 January 2023
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 …………… and were signed on its behalf by:
A Brecher - Trustee
The notes form part of these financial statements
Page 7
South Tottenham Kehila Limited
Notes to the Financial Statements for the Year Ended 31 January 2023
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.
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.
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 - 25% on cost Computer equipment - 25% on cost
Freehold property is remeasured to fair value at the Balance Sheet date with fair value gains and losses being reported within the Statement of Financial Activities.
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.
Status
The Charity is a company limited by shares with one share held by Michael Biberfeld. In the event of the Charity being wound up, the liability of the members is limited to the amount if any unpaid on the shares held by them.
continued...
Page 8
South Tottenham Kehila Limited
Notes to the Financial Statements - continued for the Year Ended 31 January 2023
2. DONATIONS AND LEGACIES
3.
| Donations INVESTMENT INCOME Rents received |
2023 £ 36,605 2023 £ 25,000 |
2022 £ 23,928 |
|---|---|---|
| 2022 £ 25,000 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022.
5. EMPLOYEES & TRUSTEES
Other than the three trustees, the Charity did not employ anyone during the year (2022: Nil).
6. OTHER EXPENDITURE
Certain small items of administrative expenditure were paid on behalf of the Charity by benefactors.
7. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 February 2022 Revaluations At 31 January 2023 DEPRECIATION At 1 February 2022 and 31 January 2023 NET BOOK VALUE At 31 January 2023 At 31 January 2022 |
Freehold property £ 3,000,000 - 3,000,000 - 3,000,000 3,000,000 |
Fixtures and fittings £ 14,320 - 14,320 14,320 - - |
Computer equipment £ 800 - 800 800 - - |
Totals £ 3,015,120 - |
|---|---|---|---|---|
| 3,015,120 | ||||
| 15,120 | ||||
| 3,000,000 | ||||
| 3,000,000 |
continued...
Page 9
South Tottenham Kehila Limited
Notes to the Financial Statements - continued for the Year Ended 31 January 2023
7. TANGIBLE FIXED ASSETS - continued
Cost or valuation at 31 January 2023 is represented by:
| Valuation in 2017 Valuation in 2022 Cost |
Freehold property £ 580,663 1,335,993 1,083,344 3,000,000 |
Fixtures and fittings £ - - 14,320 14,320 |
Computer equipment £ - - 800 800 |
Totals £ 580,663 1,335,993 1,098,464 |
|---|---|---|---|---|
| 3,015,120 |
The freehold property was valued by the directors at its fair value.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses |
2023 £ 59,019 2023 £ 1,475,266 6,328 1,481,594 |
2022 £ 34,019 2022 £ 1,475,266 6,328 |
2022 £ 34,019 |
|---|---|---|---|
| 1,533,105 |
10. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund TOTAL FUNDS |
as follows: Incoming resources £ 61,605 61,605 |
At 1.2.22 £ 1,552,455 1,552,455 Resources expended £ (36,605) (36,605) |
Net movement in funds £ 25,000 25,000 Gains and losses £ - - |
At 31.1.23 £ 1,577,455 |
|---|---|---|---|---|
| 1,577,455 | ||||
| Movement in funds £ 25,000 |
||||
| 25,000 |
continued...
Page 10
South Tottenham Kehila Limited
Notes to the Financial Statements - continued for the Year Ended 31 January 2023
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.2.21 in funds At 31.1.22 £ £ £ 196,349 1,356,106 1,552,455 196,349 1,356,106 1,552,455 |
|---|---|
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 48,928 | (28,815) | 1,335,993 | 1,356,106 |
| TOTAL FUNDS | 48,928 | (28,815) | 1,335,993 | 1,356,106 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.2.21 £ 196,349 196,349 |
Net movement in funds £ 1,381,106 1,381,106 |
At 31.1.23 £ 1,577,455 |
|---|---|---|---|
| 1,577,455 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 110,533 110,553 |
Resources expended £ (65,420) (65,420) |
Gains and losses £ 1,335,993 1,335,993 |
Movement in funds £ 1,381,106 |
|---|---|---|---|---|
| 1,381,106 |
continued...
Page 11
South Tottenham Kehila Limited
Notes to the Financial Statements - continued for the Year Ended 31 January 2023
10. MOVEMENT IN FUNDS - continued
Included in the Unrestricted Funds as at 31 January 2023 are the following:
Share Capital £1 (2022: £1) Fair Value Reserves £1,916,656 (2022: £1,961,656)
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2023.
Page 12