| Page | |||||
|---|---|---|---|---|---|
| Trustees' | annual report (incorporating |
the director's report) | |||
| Independent auditor's |
report to the members | ||||
| Statement | offinancial | activities (including | income and expenditure | ||
| account) | 13 | ||||
| Statement | offinancial | position | 14 | ||
| Statement | ofcash flows | 15 | |||
| Notes to | the financial | statements | 16 |
| Refereace | and administrative d |
and administrative d |
etails | ||||
|---|---|---|---|---|---|---|---|
| Registered | charity name | Project S.E.E.D | Limited | ||||
| Charity registration | number | 1155460 | |||||
| Company | registration | number | 03805072 | ||||
| Principal | office and registered | New Burlington | House | ||||
| office | 1075Finchley Road | ||||||
| NW11 OPU | |||||||
| The trustees | Mr M Bordon | ||||||
| Mr RM Denton | (Appointed | 7 October 2021) | |||||
| Rabbi H Ehrentreu | (Deceased | 24November | 2022) | ||||
| Mr M Z Morris | |||||||
| Mr DRosenthal | |||||||
| Mrs D Davis | (Appointed | 5 July 2022) | |||||
| Auditor | Cohen Arnold | ||||||
| Chartered accountants k statutory |
auditor | ||||||
| New Burlington | House | ||||||
| 1075Finchley Road | |||||||
| LONDON | |||||||
| NW11 OPU |
| Year ended 5April 20 | 22 | ||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Unrestricted | Restricted | ||||||
| funds | funds | Total funds | Total funds | ||||
| Note | |||||||
| Income and endowments | |||||||
| Donations and legacies |
5 | 1,739,776 | 36,100 | 1,775,876 | 1,479,678 | ||
| Charitable activities |
6 | 35,387 | 35,387 | 46,812 | |||
| Other trading activities | 7 | 38,613 | 38,613 | 38,200 | |||
| Investment income |
8 | 11,330 | 11,330 | 11 | |||
| Other income | 9 | 130,130 | 130,130 | 279,492 | |||
| Total income | 1,955,236 | 36,100 | 1,991,336 | 1,844,193 | |||
| Expenditure | |||||||
| Expenditure on raising funds: |
|||||||
| Costs ofmising donations | and | ||||||
| legacies | 10 | 44,869 | 44,869 | 31,126 | |||
| Expenditure on charitable |
activities | 11,12 | 1,603,431 | 161,914 | 1,765,345 | 1,599,455 | |
| Total expeaditure | 1,648,300 | 161,914 | 1,810,214 | 1,630,581 | |||
| Net gains on investments | 13 | 8,090 | 8,090 | ||||
| Net income and net movement | in | funds | 315,026 | (125,814) | 189,212 | 213,612 | |
| Reconciliation offunds | |||||||
| Total funds brought forward | 616,079 | 145,000 | 761,079 | 547,467 | |||
| Total funds carried forward | 931,105 | 19,186 | 950,291 | 761,079 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Wnts | 6 | ||||
| Fixed assets | |||||
| Tangibie fixed assets | 18 | 108,926 | 120,409 | ||
| Invesuneots | 19 | 505,687 | |||
| 614,613 | ]20,409 | ||||
| Current assets |
|||||
| Debtors | 20 | 51,906 | 83,351 | ||
| Cash atbank | and in hand | 532,994 | 800,493 | ||
| 584,900 | 883,844 | ||||
| Creditors: amounts | falling due within one year | 22 | 73,617 | 66,369 | |
| Net current | assets | 511,283 | 817,475 | ||
| Total assets | less current liabifiities | 1,125,896 | 937,884 | ||
| Creditors: amounts | falling due after more than one year | 23 | 175,605 | 176,805 | |
| Net assets | 950,291 | 761,079 | |||
| Funds ofthe | charity | ||||
| Restricted funds |
19,186 | 145,000 | |||
| Unrestricted | funds | 931,105 | 616,079 | ||
| Total charity funds | 25 | 950391 | 761,079 |
| Company Limited by Gu Statement ofCash Flows Year ended 5April 2022 |
arantee | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Note | ||||
| Cash flows from operating | activities | |||
| Net income | 189,212 | 213,612 | ||
| Adjustments for: | ||||
| Depreciation oftangible fixed assets | 20,318 | 20,167 | ||
| Net gains on investments | (8,090) | |||
| Dividends, interest and rents |
from investments | (11,325) | ||
| Other interest receivable and similar income |
(5) | (11) | ||
| Interest payable and similar | charges | 5,213 | 4,732 | |
| Accrued expenses/(income) | I | (63,676) | ||
| Changes in: | ||||
| Trade and other debtors | 31,445 | 55,895 | ||
| Trade and other creditors | (640) | 17,804 | ||
| Cash generated from operations |
226,129 | 248,523 | ||
| Interest paid | (5,213) | (4,732) | ||
| Interest received | 5 | 11 | ||
| Net cash from operating activities | 220,921 | 243,802 | ||
| Cash flows from investing | activities | |||
| Dividends, interest and rents |
from investments | 11,325 | ||
| Purchase oftangible assets | (8,835) | (55,767) | ||
| Purchases ofother investments | (497,597) | |||
| Net cash used in investing activities |
(495,107) | (55,767) | ||
| Net (decrease)/increase in cash and cash equivalents |
(274,186) | 188,035 | ||
| Cash and cash equivalents | at beginning ofyear | 799,735 | 611,700 | |
| Cash and cash equivalents | at end ofyear | 21 | 525,549 | 799,735 |
| value, over the useful economi | c life ofthat asset as follows |
|---|---|
| Long leasehold property | Over the lease period |
| Fixtures and fittings | 25%reducing balance |
| Equipment | 25%reducing balance |
| User defined asset | 2%straight line |
| Donations and legacies |
|||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| Donations | |||
| Donations | 1,739,776 | 36,100 | 1,775,876 |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| Donations | |||
| Donations | 1,283,856 | 195,822 | 1,479,678 |
| 6. | Charitable | activities | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| f | |||||||
| Seminars, | events and programmes | 35,387 | 35,387 | 46,812 | 46,812 | ||
| 7. | Other trading activities | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| s | |||||||
| Fundraising | income | 38,613 | 38,613 | 38,200 | 38,200 | ||
| 8. | Investment | income | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| Income from listed investments | 11,325 | 11,325 | |||||
| Bank interest receivable | 5 | 5 | 11 | 11 | |||
| 11,330 | 11,330 | 11 | 11 | ||||
| 9, | Other income | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| f | s | ||||||
| Coronavirus | Job Retention Scheme | ||||||
| Grant | 130,130 | 130,130 | 279,492 | 279,492 |
| Costs ofraising donation | s and legacie |
s | |||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| Costs ofraising donations | and legacies | ||||
| -Donations | 44,869 | 44,869 | 31,126 | 31,126 |
| Expenditu | re on charitable activi |
ties by fund typ |
e | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| Seminars, | courses and community | programmes | 1,583,499 | 161,914 | 1,745,413 |
| Support costs | 19,932 | 19,932 | |||
| 1,603,431 | 161,914 | 1,765,345 | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| Seminars, | courses and community | programmes | 1,493,662 | 86,600 | 1,580,262 |
| Support costs | 19,193 | 19,193 | |||
| 1,512,855 | 86,600 | 1,599,455 |
| Activities | |||||||
|---|---|---|---|---|---|---|---|
| undertaken | Grant funding | Total funds | Total fund | ||||
| directly | ofactivities | Support costs | 2022 | 2021 | |||
| s | |||||||
| Seminars, courses and | |||||||
| community | programmes | 1,740,033 | 5,380 | 1,745,413 | 1,580,262 | ||
| Governance | costs | 19,932 | 19,932 | 19,193 | |||
| 1,740,033 | 5,380 | 19,932 | 1,765,345 | 1,599,455 | |||
| Net gains on | investments | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| Gains/(losses) | on listed investments | 8,090 | 8,090 |
| Net income is stated afte | r charging/ | (creditin | g): | |||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| a | ||||||
| Depreciation oftangible | fixed assets | 20,318 | 20,167 | |||
| Foreign exchange differences | (40) | |||||
| 15. | Auditors remuneration |
|||||
| 2022 | 2021 | |||||
| e | ||||||
| Fees payable for the audit ofthe financial | statements | 7,800 | 7,800 | |||
| 16. | Staffcosts | |||||
| The total staff costs and | employee | benefits | for the reporting | period are analysed as | follows: | |
| 2022 | 2021 | |||||
| s | ||||||
| Wages and salaries | 905,451 | 957,876 | ||||
| Social security costs | 63,564 | 75,779 | ||||
| Employer contributions |
to pension | plans | 46,619 | 52,297 | ||
| 1,015,634 | 1,085,952 |
| Tangible | f | ixed assets | |||||
|---|---|---|---|---|---|---|---|
| Long | |||||||
| leasehold | Fixtures and | Torah | |||||
| property | fittings | Equipment | Scrolls | Total | |||
| K | |||||||
| Cost | |||||||
| At 6April | 2021 | 95,494 | 75,204 | 34,973 | 41,006 | 246,677 | |
| Additions | 5,164 | 3,671 | 8,835 | ||||
| At 5April | 2022 | 95,494 | 80,368 | 38,644 | 41,006 | 255,512 | |
| Depreciation | |||||||
| At 6April | 2021 | 40,039 | 59,243 | 26,166 | 820 | 126,268 | |
| Charge for | the year | 11,091 | 5,281 | 3,126 | 820 | 20,318 | |
| At 5April | 2022 | 51,130 | 64,524 | 29,292 | 1,640 | 146,586 | |
| Carrying | amount | ||||||
| At 5April | 2022 | 44,364 | 15,844 | 9,352 | 39,366 | 108,926 | |
| At 5April | 2021 | 55,455 | 15,961 | 8,807 | 40,186 | 120,409 |
| Listed | ||
|---|---|---|
| investments | ||
| Cost or valuation | ||
| At 6April | 2021 | |
| Additions | 497,597 | |
| Fair value | movements | 8,090 |
| At 5April | 2022 | 505,687 |
| Impairment | ||
| At 6April | 2021 and 5April 2022 | |
| Carrying | amount | |
| At 5April | 2022 | 505,687 |
| At 5 April | 2021 |
| 20. | Debtors | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Prepayments and accrued income |
22,274 | 22,274 | |||
| Other debtors | 29,632 | 61,077 | |||
| 51,906 | 83,351 | ||||
| 21. | Cash and cash equivalents | ||||
| Cash and cash equivalents | comprise the following; | ||||
| 2022 | 2021 | ||||
| Cash at bank snd in hand | 532,994 | 800,493 | |||
| Bank overdrafts | (7,445) | (758) | |||
| 525,549 | 799,735 | ||||
| 22. | Creditors: amounts | falling due within one year | |||
| 2022 | 2021 | ||||
| Bank loans and overdrafis | 7,445 | 758 | |||
| Trade creditors | 26,128 | 26,607 | |||
| Accruals and deferred income | 7,801 | 7,800 | |||
| Social security snd other taxes | 19,863 | 18,834 | |||
| Other creditors | 12,380 | 12,370 | |||
| 73,617 | 66,369 | ||||
| 23. | Creditors: amounts | falling due after more than one year | |||
| 2022 | 2021 | ||||
| Other creditors | 175,605 | 176,805 |
| At | Gains and | At | ||||
|---|---|---|---|---|---|---|
| 6 Apr 2021 | Income | Expenditure | Transfers | losses | 5Apr 2022 | |
| General funds | 616,079 | 1,955,236 | (1,648,300) | 8,090 | 931,105 | |
| At | Gains and | At | ||||
| 6 Apr 2020 | Income | Expenditure | Transfers | losses | 5 Apr 2021 | |
| s | ||||||
| General funds | 315,460 | 1,648,371 | (1,543,981) | 196,229 | 616,079 | |
| Restricted funds | ||||||
| At | Gains and | At | ||||
| 6Apr 2021 | Income | Expenditure | Transfers | losses | 5Apr 2022 | |
| f, | f. | |||||
| Restricted funds | 145,000 | 36,100 | (161,914) | 19,186 | ||
| At | Gains and | At | ||||
| 6Apr 2020 | Income | Expenditure | Transfers | losses | 5 Apr 2021 | |
| Restricted funds | 232,007 | 195,822 | (86,600) | (196,229) | 145,000 |
| Analysis ofnet asset | s between funds |
|||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| Tangible fixed assets | 108,926 | 108,926 | ||
| Investments | 505,687 | 505,687 | ||
| Current assets | 565,714 | 19,186 | 584,900 | |
| Creditors less than I year | (73,617) | (73,617) | ||
| Creditors greater than | I year | (175,605) | (175,605) | |
| Net assets | 931,105 | 19,186 | 950,291 | |
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| Tangible fixed assets | 120,408 | 120,408 | ||
| Investments | ||||
| Current assets | 733,845 | 150,000 | 883,845 | |
| Creditors less than I year | (66,369) | (66,369) | ||
| Creditors greater than | I year | (176,805) | (176,805) | |
| Net assets | 611,079 | 150,000 | 761,079 | |
| Analysis ofchanges | in net debt | |||
| At | ||||
| At 6Apr 2021 | Cash flows | 5Apr 2022 | ||
| Cash at bank and in hand | 800,493 | (267,499) | 532,994 | |
| Bank overdrafls | (758) | (6,687) | (7,445) | |
| 799,735 | (274,186) | 525,549 |