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2021-12-31-accounts

HOPEGROVE

Annual Report and Financial Statements

For year ended 31 December 2021

Charity Number

1155462

Accounts and Business Solutions 158 Cromwell Road Salford M6 6DE

Page 2

HOPEGROVE Charity Number 1155462 Financial Statements

For Year Ended 31 December 2021

Contents

Charity Information
Report of The Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the accounts
Detailed profit and loss accounts and statement of financial activities		 Page
3
4-5
6
7
8
9-10
11

Page 3

HOPEGROVE Charity Number 1155462 Financial Statements For Year Ended 31 December 2021

Charity Information

Board of Trustees

Akiva Grunhut Chayele Friedman Moshe Weiss

Administration Address

OCC Estate, Building A, Suite 8 105 Eade Road London N4 1TJ

Charity Number

1155462

Accountants

Accounts and Business Solutions 158 Cromwell Road Salford M6 6DE

Bankers

HSBC Bank plc 448-454 High Road London N17 9JN

Page 4

HOPEGROVE Charity Number 1155462 Financial Statements For Year Ended 31 December 2021

Report of the Trustees

Status and Administration

The Charity constituted by trust deed, dated 24 January 2014 is a registered charity.

Trustees

The Trustees in office throughout the year were Mr Akiva Grunhut, Mrs Chayele Friedman and Mr Moshe Weiss.

No trustee nor any person connected with them received any remuneration during the year.

Charitable Objects

The object of the charity is:

The advancement of the Orthodox Jewish religion, Orthodox Jewish education and education in general. The relief of poverty, sickness and infirmity for the public benefit. Such other purposes as are charitable according to English law as the trustees may from time to time in their absolute discretion to determine.

Public benefit

The trustees confirm their compliance, with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.

Reserves Policy

The Trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they feel to be appropriate.

Responsibilities of the Trustees

Charity 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 charity as at the Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year.

In preparing those financial statements, the Trustees should follow best practice and

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Trustees to ensure that the financial statements comply with the Charity Law.

The Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.

Page 5

HOPEGROVE Charity Number 1155462 Financial Statements For Year Ended 31 December 2021

Report of the Trustees (continued)

Financials

This year's total incoming resources were £302,881 (2020: £39,525), the trustees are satisfied with the financial results for the year, with a net surplus for the year of £127,241 (2020: deficit of £40,297).

The significant rise in charitable income during the financial period is due to receiving £246,811 from Bude Nathan Iwanier LLP Solicitors. This amount was part of an estate distribution from Mr Akiva Grunhut's late father's properties. The property, 187 Lordship Road, was sold and the proceeds were remitted to Hopegrove as a charitable distribution.

Funds are available to permit the charity to continue in operation in the medium to long term and to continue to fund worthwhile projects.

The Directors / Trustees have continued working hard to keep costs and overheads to a minimum without compromising on our high standard of service and professionalism.

Approved by The Trustees on 24th October 2022

Akiva Grunhut - Trustee

HOPEGROVE Charity Number 1155462 Financial Statements For Year Ended 31 December 2021

Page 6

Independent Examiner's Report to the Trustees

I report on the financial statements of Hopegrove for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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

  4. the financial statements 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.

Ian Graff - FCCA Accounts and Business Solutions 158 Cromwell Road Salford M6 6DE

Date: 24th October 2022

Page 7

HOPEGROVE Charity Number 1155462 Financial Statements

For Year Ended 31 December 2021

Statement of Financial Activities

Incoming Resources
Donations Received
Net incoming resources available
for charitable application
Less:
Charitable expenditure
Cost of ActivitiesIn Furtherance
of the Charity's Objects
Grants and donations given
Bank charges
Governance costs
Independent Examiner's fees
Accumulated Funds
Net Deficit / (Surplus) for the year
Balance brought forward
Balance carried forward		 Notes
3
7		 Unrestricted
funds
£
302,881
302,881
302,881
175,134
6
175,140
500
127,241
(36,730)
90,511		 2021
Total
£
302,881
302,881
302,881
175,134
6
175,140
500
127,241
(36,730)
90,511		 2020
Total
£
39,525
39,525
39,525
79,724
18
79,742
80
(40,297)
3,567
(36,730)

The notes on page 9-11 form part of these accounts.

Page 8

HOPEGROVE Charity Number 1155462 Financial Statements

For Year Ended 31 December 2021

Current Assets
Debtors
Cash at Bank
Current Liabilities
Accruals
Long-term Liabilities
Bank loans > 1 year
Net Assets
Accumulated Funds
Restricted
Unrestricted		 Notes
2021
2021
£
£
4
62,170
69,939
132,109
5
0
6
(41,598)
90,511
0
90,511
90,511
Balance Sheet
At 31 December 2021		 2020
£
8,170
2,599		 2020
£
10,769
0
(47,499)
(36,730)
0
(36,730)
(36,730)

Approved by the Trustees on 24th October 2022 and signed on behalf of them all.

Akiva Grunhut - Trustee

The notes on page 9-11 form part of these accounts.

Page 9

HOPEGROVE Charity Number 1155462 Financial Statements For Year Ended 31 December 2021

Notes To The Accounts

1) Principal Accounting Policies

Basis of Accounting

The Accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities (Effective April 2008), and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice (Issued March 2005).

Cash Flow

The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.

Donations and Fund Accounting

Rental Income received for the general and main purposes of the Charity is included as unrestricted funds in the Statement of Financial Activities when receivable.

Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.

Resources Expended

Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year. These estimates are based on the time and level of activity as appropriate.

Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

The irrecoverable element of VAT is included with the item of expense to which it relates.

Support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

2) Taxation

The Charitable Company is exempt from taxation on its charitable activities.

3) Incoming Resources

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

4) Current Assets
Debtors
5) Current Liabilities
Accruals
6) Long-term Liabilities
Bank loans > 1 year		 2021
£
62,170
62,170
2021
£
0
0
2021
£
(41,598)
(41,598)		 2020
£
8,170
8,170
2020
£
0
0
2020
£
(47,499)
(47,499)

Page 10

HOPEGROVE Charity Number 1155462 Financial Statements For Year Ended 31 December 2021

Notes To The Accounts (continued)

7) Breakdown of grants and donations paid

Name Amount Adath Yisroel £8,000.00 Dushinsky Trust £3,142.00 Ezer Viznitz Foundation £25,050.00 Gateshead Talmudical College £10,000.00 Gemach Chasdei Chosson V'Kallah £5,000.00 Kollel Viznitz London £25,000.00 OD Trust £3,170.00 Satmar Ltd £25,600.00 UTA £5,250.00 Yad Toiva Trust £25,000.00 Yeshuos Shabbos £3,000.00 Grants and donations below £3,000 £36,921.95 Total £175,133.95

Page 11

HOPEGROVE Charity Number 1155462 Financial Statements

For Year Ended 31 December 2021

Detailed profit and loss accounts and statement of financial activities

Incoming Resources
Donations Received
Net incoming resources available
for charitable application
Less:
Charitable expenditure
Cost of ActivitiesIn Furtherance
of the Charity's Objects
Grant and donations
Governance costs
Independent Examiner's fees
Bank charges
Accumulated Funds
Net Deficit / (Surplus) for the year
Balance brought forward
Balance carried forward		 Notes
3
7		 Unrestricted
funds
£
302,881
302,881
302,881
175,134
175,134
500
6
506
127,241
(36,730)
90,511		 2021
Total
£
302,881
302,881
302,881
175,134
175,134
500
6
506
127,241
(36,730)
90,511		 2020
Total
£
39,525
39,525
39,525
79,724
79,724
80
18
98
(40,297)
3,567
(36,730)