REGISTERED COMPANY NUMBER: 06052493 (England and Wales) REGISTERED CHARITY NUMBER: 1153810
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
FOR
BRINZEL
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
BRINZEL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Trustees' Responsibilities | 3 | ||
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
BRINZEL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2021
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 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 advancement of the orthodox jewish religion.
The advancement of orthodox jewish religious education and education generally.
The relief of poverty, both mental and physical, and the relief of persons suffering from disability.
To relieve financial hardship, sickness and poor health amongst elderly people.
Significant activities
The financial results of the company's activities for the year ended 31st January 2021 are fully reflected in the attached financial statements together with notes thereon.
During the year charity raised donation in the sum of £161,500 ( 2020 - £78,000) and paid out donation in the sum of £129,000 ( 2020 - £102,920).
The trustees are satisfied with the results and activities of the company for the year and do not anticipate any significant changes in the forthcoming year.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and in particular to its supplementary public benefit guidance on advancing education, when reviewing the charity's aims and objectives, and in planning future activities and setting grant making policy for the year.
Grantmaking
The trustees obtain details of all requests for assistance and ensure that good recommendations are received before any payments are made.
FINANCIAL REVIEW
Reserves policy
The trustees have a policy of maintaining unrestricted funds at an adequate level, which are the free reserves of the charity.
FUTURE PLANS
The charity will continue to operate as per current strategy and plan. No change is envisaged in the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Brinzel is a limited company, limited by guarantee incorporated under the Companies Act 2006 with Companies House on 15 January 2007. It is a charitable company established under a Memorandum of Association which established the objects and power of the charity. The charity is governed by its articles of association.
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 charity has assessed the major risks to which the charity is exposed, in particular those to the operations and finances of the charity, and is satisfied systems are in place to mitigate its exposure to those risks.
Page 1
BRINZEL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2021
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06052493 (England and Wales)
Registered Charity number 1153810
Registered office
64 Lynmouth Road London N16 6XL
Trustees
S Grunfeld O Halpern Y Lock
Company Secretary
Independent Examiner
Malcolm Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 29 October 2021 and signed on its behalf by:
S Grunfeld - Trustee
Page 2
BRINZEL
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUARY 2021
The trustees (who are also the directors of Brinzel for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRINZEL
Independent examiner's report to the trustees of Brinzel ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2021.
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:
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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
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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
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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.
Malcolm Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
29 October 2021
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BRINZEL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021
| 31.1.21 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 161,500 EXPENDITURE ON Charitable activities Charitable 129,000 Other 1,356 Total 130,356 NET INCOME/(EXPENDITURE) 31,144 RECONCILIATION OF FUNDS Total funds brought forward 26,381 TOTAL FUNDS CARRIED FORWARD 57,525 |
31.1.20 Total funds £ 78,000 104,119 443 104,562 (26,562) 52,943 26,381 |
|---|---|
The notes form part of these financial statements
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BRINZEL
STATEMENT OF FINANCIAL POSITION 31 JANUARY 2021
| 31.1.21 Unrestricted funds Notes £ CURRENT ASSETS Debtors 4 33,000 Cash at bank 94,529 127,529 CREDITORS Amounts falling due within one year 5 (20,004) NET CURRENT ASSETS 107,525 TOTAL ASSETS LESS CURRENT LIABILITIES 107,525 CREDITORS Amounts falling due after more than one year 6 (50,000) NET ASSETS 57,525 FUNDS 8 Unrestricted funds 57,525 TOTAL FUNDS 57,525 |
31.1.20 Total funds £ 8,650 30,185 38,835 (12,454) 26,381 26,381 - 26,381 26,381 26,381 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
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 29 October 2021 and were signed on its behalf by:
S Grunfeld - Trustee
The notes form part of these financial statements
Page 6
BRINZEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
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.
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.
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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2021 nor for the year ended 31 January 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2021 nor for the year ended 31 January 2020.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 78,000 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable | 104,119 |
| Other | 443 |
| Total | 104,562 |
continued...
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BRINZEL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | |||
|---|---|---|---|
| funds | |||
| £ | |||
| NET INCOME/(EXPENDITURE) | (26,562) | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 52,943 | ||
| TOTAL FUNDS CARRIED FORWARD | 26,381 | ||
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.1.21 | 31.1.20 | ||
| £ | £ | ||
| Other debtors | 33,000 | 8,650 | |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.1.21 | 31.1.20 | ||
| £ | £ | ||
| Other creditors | 17,350 | 11,000 | |
| Accrued expenses | 2,654 | 1,454 | |
| 20,004 | 12,454 | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| 31.1.21 | 31.1.20 | ||
| £ | £ | ||
| Bank loans (see note 7) | 50,000 | - |
7. LOANS
Under the bank loan, £50,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.
8. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.2.20 | in funds | 31.1.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,381 | 31,144 | 57,525 |
| TOTAL FUNDS | 26,381 | 31,144 | 57,525 |
continued...
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BRINZEL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 161,500 161,500 |
Resources Movement expended in funds £ £ (130,356) 31,144 (130,356) 31,144 |
Resources Movement expended in funds £ £ (130,356) 31,144 (130,356) 31,144 |
|---|---|---|---|
| 31,144 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.2.19 | in funds | 31.1.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 52,943 | (26,562) | 26,381 |
| TOTAL FUNDS | 52,943 | (26,562) | 26,381 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 78,000 78,000 |
Resources Movement expended in funds £ £ (104,562) (26,562) (104,562) (26,562) |
Resources Movement expended in funds £ £ (104,562) (26,562) (104,562) (26,562) |
|---|---|---|---|
| (26,562) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.2.19 | in funds | 31.1.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 52,943 | 4,582 | 57,525 |
| TOTAL FUNDS | 52,943 | 4,582 | 57,525 |
continued...
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BRINZEL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021
8. MOVEMENT IN FUNDS - continued
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 £ 239,500 239,500 |
Resources Movement expended in funds £ £ (234,918) 4,582 (234,918) 4,582 |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2021.
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