Reb Shayale's Tzeduke
Trustees' Report and Unaudited Accounts
31 July 2022
Reb Shayale's Tzeduke Contents
| Pages | |
|---|---|
| Trustees'AnnualReport | 2 to 3 |
| IndependentExaminer'sReport | 4 |
| Statement of FinancialActivities | 5 |
| BalanceSheet | 6 |
| Notesto the Accounts | 7 to 12 |
| DetailedStatement of FinancialActivities | 13 to 14 |
Page 1
Reb Shayale's Tzeduke Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 July 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1158689
Principal Office
63a Lampard Grove
London
N16 6XA
Trustees
The following trustees served during the year:
M. Liebenthal
Y.B. Rosenbaum
P.S. Rottenberg
Accountants
S J Sheldon Ltd
20 Clarence Road
Hale
Cheshire WA15 8SG
OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document, constituted by Trust Deed on the 26th Septmebr 2014 and was registered on the 26th September 2014
The Charity was set up for the advancement of the orthodox Jewish Faith and the advancement of such charitable purposes as the trustees may from time to time see fit as for the benefit of the public according to the laws of England and Wales
During the year the Charity made charitable donations of £980,731 (2021: £829,960)
FINANCIAL REVIEW
The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they feel to be appropriate.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
Reb Shayale's Tzeduke Trustees Annual Report
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
M. Liebenthal Trustee 23 February 2023
Page 3
Reb Shayale's Tzeduke
Independent Examiners Report
Independent Examiner's Report to the trustees of Reb Shayale's Tzeduke
I report to the trustees on my examination of the financial statements of Reb Shayale's Tzeduke for the year ended 31 July 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
As 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 by being a qualified member of Institute of Financial Accountants.
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Simon Sheldon
Institute of Financial Accountants
S J Sheldon Ltd
20 Clarence Road
Hale Cheshire
WA15 8SG 23 February 2023
Page 4
Reb Shayale's Tzeduke Statement of Financial Activities
for the year ended 31 July 2022
| for the year ended 31July 2022 | ||||
|---|---|---|---|---|
| Notes Income and endowments from: Donationsandlegacies 3 Total Expenditure on: Raisingfunds 4 Charitableactivities 5 Other 6 Total Netgainsoninvestments Net(expenditure)/income Transfersbetweenfunds Net(expenditure)/income before othergains/(losses) Othergainsandlosses Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward |
Unrestricted funds |
Totalfunds | Totalfunds | |
| 2022 | 2022 | 2021 | ||
| £ | £ | £ | ||
| 947,021 | 947,021 | 958,738 | ||
| 947,021 | 947,021 | 958,738 | ||
| - | - | 11,995 | ||
| 980,731 | 980,731 | 829,960 | ||
| 44,113 | 44,113 | 37,743 | ||
| 1,024,844 | 1,024,844 | 879,698 | ||
| - | - | - | ||
| (77,823) | (77,823) | 79,040 | ||
| - | - | - | ||
| (77,823) | (77,823) | 79,040 | ||
| (77,823) | (77,823) | 79,040 | ||
| 99,622 | 99,622 | 20,582 | ||
| 21,799 | 21,799 | 99,622 | ||
Page 5
Reb Shayale's Tzeduke Balance Sheet
at 31 July 2022
| at 31July 2022 | ||
|---|---|---|
| Charity No.1158689 Fixed assets Tangibleassets 8 Current assets Debtors 9 Cashat bankandin hand Creditors: Amountfallingdue within one year 10 Netcurrent assets Totalassets lesscurrentliabilities Net assetsexcludingpension asset orliability Totalnet assets Thefundsofthecharity Restrictedfunds 11 Unrestrictedfunds 11 Generalfunds Reserves 11 Totalfunds Approved by the trusteeson 23February 2023 |
2022 £ 750 750 - 21,049 21,049 - 21,049 21,799 21,799 21,799 21,799 21,799 21,799 |
2021 £ 750 |
| 750 112,647 14,031 |
||
| 126,678 (27,806) |
||
| 98,872 99,622 |
||
| 99,622 | ||
| 99,622 | ||
| 99,622 | ||
| 99,622 | ||
| 99,622 | ||
And signed on their behalf by:
M. Liebenthal
Trustee 23 February 2023
Page 6
Reb Shayale's Tzeduke Notes to the Accounts
for the year ended 31 July 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
Reb Shayale's Tzeduke Notes to the Accounts
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other - short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
Reb Shayale's Tzeduke Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement ofFinancialActivities-prior year |
|||
|---|---|---|---|
| Income and endowmentsfrom: Donationsandlegacies Total Expenditure on: Raisingfunds Charitableactivities Other Total Netincome Netincome before other gains/(losses) Othergainsandlosses: Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward 3 Incomefrom donationsandlegacies Charitable donations |
Unrestricted £ 947,021 947,021 |
Unrestricted funds 2021 £ 958,738 958,738 11,995 829,960 37,743 879,698 79,040 79,040 79,040 20,582 99,622 Total 2022 £ 947,021 947,021 |
Totalfunds 2021 £ 958,738 |
| 958,738 11,995 829,960 37,743 |
|||
| 879,698 | |||
| 79,040 | |||
| 79,040 | |||
| 79,040 20,582 |
|||
| 99,622 | |||
| Total 2021 £ 958,738 |
|||
| 958,738 | |||
| Donatedgoods,facilitiesandservicesreceived | |||
| Donations 4 Expenditure on raising funds Fundraising tradingcosts |
Total 2022 £ 947,021 947,021 Total 2022 £ - - |
Total 2021 £ 958,738 |
|
| 958,738 | |||
| Total 2021 £ 11,995 |
|||
| 11,995 |
Page 9
Reb Shayale's Tzeduke Notes to the Accounts
5 Expenditure on charitable activities
| 5 Expenditure oncharitable activities |
|||
|---|---|---|---|
| Expenditureoncharitable activities Governancecosts 6 Other expenditure Premises costs Generaladministrativecosts Legaland professionalcosts 7 Staffcosts No employee received emolumentsin excessof£60,000. 8 Tangiblefixed assets Cost or revaluation Additions At 31July 2022 Net bookvalues At 31July 2022 9 Debtors Trade debtors Other debtors 10 Creditors: amountsfallingdue within one year Othercreditors |
Unrestricted £ 980,731 - 980,731 Unrestricted £ 35,712 8,401 - 44,113 2022 £ - - - 2022 £ - - |
Total 2022 £ 980,731 - 980,731 Total 2022 £ 35,712 8,401 - 44,113 £ 750 750 750 |
Total 2021 £ 50,789 779,171 |
| 829,960 | |||
| Total 2021 £ 29,541 3,209 4,993 |
|||
| 37,743 | |||
| £ 750 |
|||
| 750 | |||
| 750 | |||
| 2021 £ 2,400 110,247 |
|||
| 112,647 | |||
| 2021 £ 27,806 |
|||
| 27,806 |
Page 10
Reb Shayale's Tzeduke Notes to the Accounts
11 Movement in funds
| 11 Movementinfunds | ||||
|---|---|---|---|---|
| Restrictedfunds: Unrestrictedfunds: Generalfunds Totalfunds 12 Analysisofnet assetsbetweenfunds Fixedassets Netcurrentassets 13 Reconciliation ofnet debt Cashandcash equivalents Net debt |
At 1 August 2021 99,622 99,622 |
Incoming resources (including other gains/losses ) £ 947,021 947,021 Unrestricted funds £ - 21,049 21,049 At 1 August 2021 £ |
Resources expended £ (1,024,844) (1,024,844) Restricted funds £ 750 - 750 Cashflows £ |
At 31July 2022 £ 21,799 |
| 21,799 | ||||
| Total £ 750 21,049 |
||||
| 21,799 | ||||
| At 31July 2022 £ |
||||
| 14,031 | 7,018 | 21,049 | ||
| 14,031 14,031 |
7,018 7,018 |
21,049 | ||
| 21,049 | ||||
Page 11
Reb Shayale's Tzeduke Statement of Cash flows for the year ended 31 July 2022
| Cashflowsfrom operatingactivities Net(expenditure)/income perStatement ofFinancialActivities Adjustmentsfor: Decrease/(Increase)in tradeand other receivables (Decrease)/Increasein tradeand other payables Netcash provided by/(usedin)operatingactivities Cashflowsfrominvestingactivities Paymentsfor property,plantand equipment Netcash usedininvestingactivities Netcashfromfinancingactivities Netincrease/(decrease)incash andcash equivalents Cash andcash equivalentsat the beginningofthe year Cash andcash equivalentsat the end ofthe year |
2022 £ (77,823) 112,647 (27,806) 7,018 (750) (750) - 6,268 14,031 20,299 |
2021 £ 79,040 (112,647) 19,946 |
|---|---|---|
| (13,661) (750) |
||
| (750) | ||
| - | ||
| (14,411) | ||
| 28,442 | ||
| 14,031 | ||
| Componentsofcash andcash equivalents | ||
| Cashand bankbalances | 21,049 | 14,031 |
| 21,049 | 14,031 |
Page 12
Reb Shayale's Tzeduke Detailed Statement of Financial Activities
for the year ended 31 July 2022
| for the year ended 31July 2022 | |||
|---|---|---|---|
| Income and endowmentsfrom: Donationsandlegacies Charitable donations Total income and endowments Expenditure on: Costsofother tradingactivities Totalofexpenditure on raising funds Charitableactivities Totalofexpenditure oncharitable activities Premises costs Rent Light,heatand power Other premises costs Generaladministrativecosts, includingdepreciationand amortisation Bankcharges Informationand publications Postageandcouriers Software,ITsupportand related costs Sundry expenses Telephone,fax and broadband Legaland professionalcosts Otherlegaland professional costs Totalofexpenditure ofothercosts Totalexpenditure |
Unrestricted funds 2022 £ 947,021 947,021 947,021 - - - 980,731 - 980,731 980,731 - - 35,712 35,712 1,485 - 4,000 - 2,699 217 8,401 - - 44,113 1,024,844 |
Totalfunds 2022 £ 947,021 947,021 947,021 - - - 980,731 - 980,731 980,731 - - 35,712 35,712 1,485 - 4,000 - 2,699 217 8,401 - - 44,113 1,024,844 |
Totalfunds 2021 £ 958,738 |
| 958,738 | |||
| 958,738 11,995 |
|||
| 11,995 | |||
| 11,995 50,789 779,171 |
|||
| 829,960 | |||
| 829,960 10,165 42 19,334 |
|||
| 29,541 | |||
| 1,236 (118) - 2,000 - 91 |
|||
| 3,209 | |||
| 4,993 | |||
| 4,993 | |||
| 37,743 | |||
| 879,698 |
Page 13
Reb Shayale's Tzeduke
Detailed Statement of Financial Activities
| RebShayale'sTzeduke DetailedStatement ofFinancialActivities |
|||
|---|---|---|---|
| Netgainsoninvestments Net(expenditure)/income Net(expenditure)/income before othergains/(losses) Other Gains Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward |
- (77,823) (77,823) - (77,823) 99,622 21,799 |
- (77,823) (77,823) - (77,823) 99,622 21,799 |
- |
| 79,040 | |||
| 79,040 - |
|||
| 79,040 | |||
| 20,582 | |||
| 99,622 |
Page 14