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|---|---|---|---|---|---|
|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|
##
|financial
s|tatements ofthe charit|tatements ofthe charit|y for the year ende|d 5 April 2023.|||
|---|---|---|---|---|---|---|
|Reference|and administrative||details||||
|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|||1075 Finchley Road||||
||||NW11 OPU||||
|The trustees|||Mr M Bordon||||
||||Mr RM Denton||||
||||Rabbi H Ehrentreu||(Deceased|24November 2022)|
||||Mr M Z Morris||||
||||Mr D Rosenthal||||
||||Mrs D Davis||(Appointed|5 July 2022)|
|Auditor|||Cohen Arnold||||
||||Chartered
accountants &statutory||auditor||
||||New Burlington|House|||
||||1075Finchley Road||||
||||LONDON||||
||||NW11 OPU||||
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|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|||
||||||funds|funds|Total funds|Total funds|
|||||Note|||||
|Income and endowments|||||||||
|Donations
snd legacies||||5|2,142,955|60,000|2,202,955|1,775,876|
|Charitable
activities||||6|92,235||92,235|35,387|
|Other trading activities||||7|32,158||32,158|38,613|
|Investment
income||||8|22,284||22,284|11,330|
|Other income||||9||||130,130|
|Total income|||||2,289,632|60,000|2,349,632|1,991,336|
|Expenditure|||||||||
|Expenditure
on raising funds:|||||||||
|Costs ofraising|donations||and||||||
|legacies||||10|97,144||97,144|44,869|
|Expenditure
on charitable||activities||11,12|2,131,712|70,511|2,202,223|1,765,345|
|Total expenditure|||||2,228,856|70,511|2,299,367|1,810,214|
|Net (losses)/gains
on investments||||13|(48,772)||(48,772)|8,090|
|Net income and net|movement||in|funds|12,004|(10,511)|1,493|189,212|
|Reconciliation
offunds|||||||||
|Total funds brought|forward||||931,105|19,186|950,291|761,079|
|Total funds carried|forward||||943,109|8,675|951,784|950,291|
##
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||||2Q23|2022|
|---|---|---|---|---|
|Plxcd asscfs||Note|8||
|Tangible fixed assets
lnveslnlcnts||18
19|89,586
527,032|108,926
505,687|
||||616,618|614,613|
|Currenf assets|||||
|Debtors
Cash at bank and in hand||20|67,669
512,1Q9|51,906
532,994|
||||579,778|584,900|
|Creditors: amounts|falling due within one year|72|69,007|73,617|
|piet current assets|||510,771|511,283|
|Total assets less current liabilities|||1,127,389|I,125,896|
|Creditors; amounts|failing due after more than one year|23|175,605|iI75,605|
|f4et assefs|||951,784|950,291|
|Funds ofthe charity|||||
|Restricted funds
Unrestricted
funds|||8,675
943,109|19,186
931,105|
|Total charity funds||25|951,784|950,291|
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|||2023|2022|
|---|---|---|---|
||Note|||
|Cash flows from operating
activities||||
|Net income||1,493|189,212|
|Adjustments for:
Depreciation oftangible fixed assets||17,403|20,318|
|Net (losses)/gains
on investments||48,772|(8,090)|
|Dividends,
interest and rents from investments||(21,984)|(11,325)|
|Other interest receivable
and similar income||(300)|(5)|
|Interest payable and similar charges||5,881|5,213|
|Accrued (income)/expenses||(I)|I|
|Changes In:||||
|Trade and other debtors||(15,763)|31,445|
|Trade and other creditors||(2,891)|(640)|
|Cash generated
from operations||32,610|226,129|
|Interest paid||(5,881)|(5,213)|
|Interest received||300|5|
|Net cash from operating
activities||27,029|220,921|
|Cash flows from investing activities||||
|Dividends,
interest and rents from investments||21,984|11,325|
|Purchase oftangible
assets||(1,936)|(8,835)|
|Proceeds from sale oftangible assets||3,873||
|Purchases ofother investments||(400,004)|(497,597)|
|Proceeds from sale ofother investments||329,887||
|Net cash used in investing
activities||(46,196)|(495,107)|
|Net decrease in cash and cash equivalents||(19,167)|(274,186)|
|Cash and cash equivalents
at beginning ofyear||525,549|799,735|
|Cash and cash equivalents
at end ofyear|21|506,382|525,549|
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|5.|The charity
Donations|is a company
limited by
and legacies|guarantee
and has|no share capita|l.||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total Funds|
|||||Funds|Funds|2023|
||||||f||
||Donations||||||
||Donations|||2,142,955|60,000|2,202,955|
|||||Unrestncted|Restricted|Total Funds|
|||||Funds|Funds|2022|
||||||f||
||Donations||||||
||Donations|||1,739,776|36,100|1,775,876|
|6.|Charitable|activities|||||
||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||Funds|2023|Funds|2022|
||||f||||
||Seminars,|events and programmes|92,235|92,235|35,387|35,387|
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|7.|Other trading|Other trading|activities|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted||Total Funds|Unrestricted|Total Funds|
|||||||||Funds|2023|Funds|2022|
||||||||||8||t|
||Fundraising|income||||||32,158|32,158|38,613|38,613|
|8.|Investment|income||||||||||
||||||||Unrestricted||Total Funds|Unrestricted|Total Funds|
|||||||||Funds|2023|Funds|2022|
||Income from|listed investments||||||21,984|21,984|11,325|11,325|
||Bank interest|receivable||||||300|300|5|5|
|||||||||22,284|22,284|11,330|11,330|
|9.|Other income|||||||||||
||||||||Unrestricted||Total Funds|Unrestricted|Total Funds|
|||||||||Funds|2023|Funds|2022|
||Coronsvirus|Job Retention|||Scheme|||||||
||Grant|||||||||130,130|130,130|
|10.|Costs ofraising donations||||and legacies|||||||
||||||||Unrestricted||Total Funds|Unrestricted|Total Funds|
|||||||||Funds|2023|Funds|2022|
||Costs ofraising donations|||and legacies||||||||
||- Donations|||||||97,144|97,144|44,869|44,869|
|11.|Expenditure||on charitable||activities||by fund|type||||
||||||||||Unrestricted|Restricted|Total Funds|
||||||||||Funds|Funds|2023|
||Seminars, courses snd community|||||programmes|||2,114,171|70,511|2,184,682|
||Support costs||||||||17,541||17,541|
||||||||||2,131,712|70,511|2,202,223|
||||||||||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|
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||||Activities||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||undertaken|Grant||funding|||Total funds|Total fund|
||||directly||of|activities|Support costs||2023|2022|
||Seminars, courses and||||||||||
||community|programmes|2,178,287|||6,395|||2, 184,682|1,745,413|
||Governance|costs||||||17,541|17,541|19,932|
||||2,178,287|||6,395||17,541|2,202,223|1,765,345|
|13.|Net (losses)/gains
on investments||||||||||
||||||Unrestricted||Total|Funds|Unrestricted|Total Funds|
|||||||Funds||2023|Funds|2022|
||Gains/(losses)
on listed||investments|||(48,772)||(48,772)|8,090|8,090|
|14.|Net income||||||||||
||Net income|is stated after charging/(crediting):|||||||||
||||||||||2023|2022|
||Depreciation|oftangible|fixed assets||||||17,403|20,318|
|15.|Auditors
remuneration||||||||||
||||||||||2023|2022|
||||||||||f.||
||Fees payable forthe audit ofthe financial||||statements||||7,800|7,800|
|16.|Staff costs||||||||||
||The total staff costs and||employee benefits for the reporting|||||period are analysed
as||follows:|
||||||||||2023|2022|
||||||||||f||
||Wages and salaries
Social security costs
Employer contributions||to pension plans||||||915,060
65,921
46,807|905,451
63564
46,619|
||||||||||1,027,788|1,015,634|
|The average head count o|femployees
during t|he year was 39 (2022:43).||
|---|---|---|---|
|The number ofemployees|whose remuneration|for the year fell within the following|bands, were:|
|||2023|2022|
|||No.|No.|
|%60000tof69999||1|1|
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|||Long|||||
|---|---|---|---|---|---|---|
|||leasehold|Fixtures and||Torah||
|||property|fittings|Equipment|Scrolls
t|Total|
|Cost|||||||
|At 6April
Additions|2022|95,494|80,368|38,644
1,936|41,006|255,512
1,936|
|Disposals|||(5,164)|||(5,164)|
|At 5April|2023|95,494|75,204|40,580|41,006|252,284|
|Depreciation|||||||
|At 6April|2022|51,130|64,524|29,292|1,640|146,586|
|Charge for the year
Disposals||11,091|2,670
(1,291)|2,822|820|17,403
(1,291)|
|At 5April|2023|62,221|65,903|32,114|2,460|162,698|
|Carrying
At 5April|amount
2023|33,273|9,301|8,466|38,546|89,586|
|At 5 April|2022|44,364|15,844|9,352|39,366|108,926|
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|||Listed|
|---|---|---|
|||investments|
|Cost or valuation|||
|At 6 April|2022|505,687|
|Additions||400,004|
|Disposals||(362,425)|
|Fair value|movements|(16,234)|
|At 5April|2023|527,032|
|Impairment|||
|At 6April|2022 and 5April 2023||
|Carrying
At 5April|amount
2023|527,032|
|At 5 April|2022|505,687|
##
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|20.|value as at 5t
Debtors|h April 2023.||||
|---|---|---|---|---|---|
|||||2023|2022|
||Prepayments|and accrued income||22,274|22,274|
||Other debtors|||45,395|29,632|
|||||67,669|51,906|
|21,|Cash and cash equivalents|||||
||Cash and cash equivalents||comprise the following:|||
|||||2023|2022|
||Cash at bank|and in hand||512,109|532,994|
||Bank overdrails|||(5,727)|(7,445)|
|||||506,382|525,549|
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|22.|Creditors: amounts|falling due within one year|||
|---|---|---|---|---|
||||2023|2022|
||Bank loans and overdrafls||5,727|7,445|
||Trade creditors||31,099|26,128|
||Accruals snd deferred income||7,800|7,801|
||Social security and other taxes||14,391|19,863|
||Other creditors||9,990|12,380|
||||69,007|73,617|
|23.|Creditors: amounts|falling due after more than one year|||
||||2023|2022|
||Other creditors||175,605|175,605|
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|Unrestri|cted
funds|||||||
|---|---|---|---|---|---|---|---|
||||At|||Gains snd|At|
|||6|April 2022|Income|Expenditure|losses|5April 2023|
||||||||f.|
|General|funds||931,105|2,289,632|(2,228,856)|(48,772)|943,109|
||||At|||Gains and|At|
|||6|April 2021|Income|Expenditure|losses|5 April 2022|
|General|funds||616,079|1,955,236|(1,648,300)|8,090|931,105|
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|Analysis ofcharit
Restricted funds|able
funds
(continued)|||||
|---|---|---|---|---|---|
||At|||Gains and|At|
||6April 2022|Income|Expenditure|losses|5April 2023|
|||||f.||
|Restricted funds|19,186|60,000|(70,511)||8,675|
||At|||Gains and|At|
||6April 2021|Income|Expenditure|losses|5 April 2022|
|Restricted funds|145,000|36,100|(161,914)||19,186|
|Analysis ofnet assets between funds||||||
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2023|
|Tangible fixed assets|||89,586||89,586|
|Investments|||527,032||527,032|
|Current assets|||571,103|8,675|579,778|
|Creditors less than|I year||(69,007)||(69,007)|
|Creditors greater than I year|||(175,605)||(175,605)|
|Net assets|||943,109|8,675|951,784|
||||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|1 year||(73,617)||(73,617)|
|Creditors greater than I year|||(175,605)||(175,605)|
|Net assets|||931,105|19,186|950,291|
|Analysis ofchanges in net debt||||||
||||||At|
||||At 6Apr 2022|Cash flows|5Apr 2023|
|Cash at bank and|in hand||532,994|(20,885)|512,109|
|Bank overdmfts|||(7,445)|1,718|(5,727)|
||||525,549|(19,167)|506,382|
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