CHARITY REGISTRATION NUMBER: 1156564
Baba Sali Trust
Unaudited Financial Statements FOR THE YEAR ENDED 31 March 2024
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| Baba Sali Trust | |
|---|---|
| Financial Statements | |
| Year ended 31 March 2024 | |
| CONTENTS | PAGE |
| Trustees' annual report | 1 |
| Statement of financial activities (including | |
| income and expenditure account) | 2 |
| Statement of financial position | 3 |
| Notes to the financial statements | 4 |
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Baba Sali Trust Year ended 31 March 2024 Trustees' annual report
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
| Registered charity name | Baba Sali Trust |
|---|---|
| Charity registration number | 1156564 |
| Principal office | 10 Shirehall Gardens |
| London | |
| NW4 2QS | |
| United Kingdom | |
| The trustees | J Amouyal |
| S Tobelem | |
| R Benguigui |
Structure, governance and management
The Baba Sali Trust is registered as a charity with the Charity Commission and was established on 14th February 2014. The Trustees have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. Each year the Trustees review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review, the Trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
The appointment and recruitment of new Trustees is as laid out in the Trust Deed. New Trustees would be trained as deemed appropriate.
The charity's Trust Deed authorises the Trustees to make and hold investments.
Public Benefit
Each year the trusties review their objectives and activities to ensure that they continue to reflect the trustees aims. In carrying out their review the trusties have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public benefit guidance with specific crag to the advancement of the Orthodox Jewish Religion and all of its facets for the public benefit.
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Year ended 31 March 2024 Trustees' annual report
Baba Sali Trust
Objectives and activities
The principal objectives of the charity throughout the period has been:
1) The relief of financial hardship amongst persons of the Jewish faith who are in need and live in the United Kingdom, France and Israel.
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2) The advancement of the Orthodox Jewish faith
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3) The advancement of Orthodox Jewish religious education
4) The relief of poverty, sickness and infirmity amongst members of the Jewish faith and such other purposes as are charitable according to English Law.
Achievements and performance
The charity is organised so that the trustees meet regularly to manage its affairs. There are no paid employees and all administration work is carried out on a voluntary basis by the trustees.
Financial review
During the year, the charity's funds have been applied in furtherance of its objectives and the day to day running of the charity.
In the year to 31 March 2024, incoming resources amounted to £26,650 (2023 - £2,980) and resources expended amounted to £26,136 (2023 - £9,337).
At 31 March 2024, the charity had a total unrestricted fund balance of £9,954. There have been no changes in the accounting policies of the charity during the year.
Plans for future periods
The trustees intend to continue performing at similar levels to the current period which has been most satisfactory.
The trustees' annual report was approved on 3 February 2025 and signed on behalf of the board of trustees by:
J Amouyal Trustee
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Baba Sali Trust Year ended 31 March 2024 Statement of financial activities (including income and expenditure account)
| come and expenditure account) | come and expenditure account) | come and expenditure account) | come and expenditure account) | |
|---|---|---|---|---|
| 2024 2023 Total funds Unrestricted funds £ £ 26,650 26,650 2,980 26,650 26,650 2,980 26,136 26,136 9,338 26,136 26,136 9,338 515 515 (6,358) 9,439 9,439 15,797 9,954 9,954 9,439 Total funds |
||||
| Income and endowments Notes Total income Expenditure Total expenditure Total funds carried forward Net income/(expenditure) Donations and legacies Expenditure on charitable activities Reconciliation of funds |
Unrestricted funds £ 26,650 26,650 26,136 26,136 515 9,439 9,954 |
2024 | Total funds 26,650 26,650 26,136 26,136 515 9,439 9,954 |
2023 £ 2,980 Total funds |
| 2,980 | ||||
| 9,338 | ||||
| 9,338 | ||||
| (6,358) 15,797 |
||||
| 9,439 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Baba Sali Trust Year ended 31 March 2024 Statement of financial position
| Notes Current assets Creditors: ammounts falling due within one year Net current assets Total assets less current liabilities NET ASSETS Funds of the charity Cash at bank and in hand Unrestricted funds Total charity funds |
2024 10,836 10,836 882 9,954 9,954 £ 9,954 9,954 £ 9,954 |
2023 11,139 |
| 11,139 1,700 9,439 |
||
| 9,439 | ||
| £ 9,439 |
||
| 9,439 | ||
| £ 9,439 |
These financial statements were approved by the board of trustees and authorised for issue on 3 February 2025, and are signed on behalf of the board by:
J Amouyal
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Baba Sali Trust
Notes to the accounts for the year ended 31 March 2024
1 General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 10 Shirehall Gardens, Hendon, London, NW4 2QS, United Kingdom.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
- (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Baba Sali Trust
Notes to the accounts for the year ended 31 March 2024
3 Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured.
The following specific policies are applied to particular categories of income:
• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
• legacy income is recognised when receipt is probable and entitlement is established.
• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
• expenditure on raising funds includes the costs of all fundraising activities and events.
• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource.
Direct costs attributable to a single activity are allocated directly to that activity.
Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
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Baba Sali Trust
Notes to the accounts for the year ended 31 March 2024
| 4 Donations and legacies Donations Unrestricted funds £ Donations 26,650 |
Total funds 2024 £ Unrestricted funds Total funds 2023 £ £ 26,650 2,980 2,980 |
|---|---|
5 Expenditure on charitable activites by fund type
| Charitable activity Support costs |
£ 26,000 136 Unrestricted |
Total funds 2024 £ Total funds 2023 £ £ 26,000 8,391 8,391 136 947 947 Unrestricted |
|---|---|---|
| 26,136 | 26,136 9,338 9,338 |
6 Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
7 Creditors: ammounts falling due within one year
| Creditors: ammounts falling due within one | year | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Accurals and deferred income | 882 | 1,700 |
| 882 | 1,700 |
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