COMPANY REGISTRATION NUMBER: 9391498 CHARITY REGISTRATION NUMBER: 1161835
Gateshead Kehilla Building Foundation Company Limited by Guarantee Unaudited Financial Statements
30 June 2022
ACCOUNTS & BUSINESS SOLUTIONS LIMITED
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 June 2022
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 30 June 2022.
Reference and administrative details
Registered charity name Gateshead Kehilla Building Foundation Charity registration number 1161835 Company registration number 9391498 Principal office and registered 271 Coatsworth Road office Gateshead Tyne & Wear NE8 4LJ The trustees L Bamberger B Davis P Z Schechter A H Zahn Independent examiner Mr H Davies FCCA 158 Cromwell Road Salford M6 6DE
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2022
Structure, governance and management
Gateshead Kehilla Building Foundation is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 15 January 2015 as a company and the company number is 9391498. It was registered as a charity on 26 May 2015 with a charity number 1161835.
Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day to day affairs are undertaken by Mr J Bernstein on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
Risk review
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.
Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.
Objectives and activities
The objects of the charity are: (i) to advance the orthodox Jewish religion in the North of England for the benefit of the public by building, providing and maintaining communal building or buildings for religious purposes for the Jewish community; (ii) to promote any charitable purpose for the benefit of the community as the trustees may decide from time to time determine.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
Grant making policy
The charity is funded by donations. The charity only pays out grants in line with the above objects.
There were no individual grants made during the year.
The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2022
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The charity received £447,321 (2021 - £832,468) in donations and £6,150 (2021 - £6,537) in income from charitable activities during the year.
This is the first full year of operation of the new community centre and operating costs were £149,051.
There were no grants paid out in the year but support costs amounting to £22,619 were paid out in the year.
There were fundraising costs incurred during the year amounting to £5,127.
There were no related party transactions in the reporting period.
The net operating income for the year amounted to £299,411 (2021 - £809,572).
The accounts include an exceptional item relating to the decision to write down the value of the building (see note 17).
The total net movement in funds was a deficit of £4,439,197.
Unrestricted funds stand at £1,077,446.
Financial review
The trustees consider that the year was an excellent one in terms of donations received and the progress made towards the new community centre.
The trustees are delighted to have made many valuable contributions to the community and hope to be able to do so for many years to come.
Reserves policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results. The Trust is currently distributing as much of its income as possible.
In considering the financial obligations of the charity, the trustees have resolved to maintain a minimum reserve, being the current assets of the charity. The fixed assets are not deemed by the trustees to be freely available to distribute.
The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
The reserves stand at £1,077,446, all of which are unrestricted.
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2022
The trustees' annual report and the strategic report were approved on 21 March 2023 and signed on behalf of the board of trustees by:
B Davis Trustee
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Gateshead Kehilla Building Foundation
Year ended 30 June 2022
I report to the trustees on my examination of the financial statements of Gateshead Kehilla Building Foundation ('the charity') for the year ended 30 June 2022.
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
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
-
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).
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Gateshead Kehilla Building
Foundation (continued)
Year ended 30 June 2022
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.
Mr H Davies FCCA Independent Examiner
158 Cromwell Road Salford M6 6DE
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 June 2022
| 2022 | 2022 | 2021 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 447,321 | 447,321 | 832,468 |
| Charitable activities | 6 | 6,150 | 6,150 | 6,357 |
| Investment income | 7 | 118 | 118 | – |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 453,589 | 453,589 | 838,825 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 8 | 5,127 | 5,127 | 928 |
| Expenditure on charitable activities | 9,10 | 149,051 | 149,051 | 28,325 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 154,178 | 154,178 | 29,253 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income | 299,411 | 299,411 | 809,572 | |
| ================================ | ================================ | ================================ | ||
| Extraordinary items | 17 | (4,738,608) | (4,738,608) | – |
| ----------------------------------------- | ----------------------------------------- | -------------------------------- | ||
| Net movement in funds | (4,439,197) | (4,439,197) | 809,572 | |
| Reconciliation of funds | ||||
| Total funds brought forward | 5,516,643 | 5,516,643 | 4,707,071 | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 1,077,446 | 1,077,446 | 5,516,643 | |
| ========================================= | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 16 form part of these financial statements.
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Statement of Financial Position
30 June 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 18 | 1,493,040 | 6,105,832 | |
| Current assets | ||||
| Cash at bank and in hand | 273,465 | 379,458 | ||
| Creditors: amounts falling due within one year | 19 | (395,179) | (469,211) | |
| -------------------------------- | -------------------------------- | |||
| Net current liabilities | (121,714) | (89,753) | ||
| ----------------------------------------- | ----------------------------------------- | |||
| Total assets less current liabilities | 1,371,326 | 6,016,079 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 20 | (293,880) | (499,436) | |
| ----------------------------------------- | ----------------------------------------- | |||
| Net assets | 1,077,446 | 5,516,643 | ||
| ========================================= | ========================================= | |||
| Funds of the charity | ||||
| Unrestricted funds | 1,077,446 | 5,516,643 | ||
| ----------------------------------------- | ----------------------------------------- | |||
| Total charity funds | 21 | 1,077,446 | 5,516,643 | |
| ========================================= | ========================================= |
For the year ending 30 June 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These accounts have been prepared in accordance with the provisions applicable to companies' subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 21 March 2023, and are signed on behalf of the board by:
B Davis Trustee
The notes on pages 9 to 16 form part of these financial statements.
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 271 Coatsworth Road, Gateshead, Tyne & Wear, NE8 4LJ.
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.
Fair value
Debtors and creditors are stated at fair value.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
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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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
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, events, non-charitable trading activities, and the sale of donated goods.
-
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.
Tangible assets
All fixed assets are initially recorded at cost. No depreciation has been charged. No depreciation will be charged until the functional property has been brought into use.
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
- 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
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.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
Gateshead Kehilla Building Foundation is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 447,321 | 447,321 | 832,468 | 832,468 | |
| ================================ | ================================ | ================================ | ================================ | ||
| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Sale of goods/services as part of | |||||
| direct charitable activities | 6,150 | 6,150 | 6,357 | 6,357 | |
| ======================= | ======================= | ======================= | ======================= | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 118 | 118 | – | – | |
| ============== | ============== | ============== | ============== |
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
8. Costs of raising donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Costs of raising donations and | ||||
| legacies - Donations | 5,127 | 5,127 | 928 | 928 |
| ======================= | ======================= | ============== | ============== | |
| Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Synagogue functions | 126,432 | 126,432 | 13,687 | 13,687 |
| Support costs | 22,619 | 22,619 | 14,638 | 14,638 |
| -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | |
| 149,051 | 149,051 | 28,325 | 28,325 | |
| ================================ | ================================ | ============================ | ============================ |
9. Expenditure on charitable activities by fund type
10. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Synagogue functions | 126,432 | 20,331 | 146,763 | 25,775 |
| Governance costs | – | 2,288 | 2,288 | 2,550 |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | |
| 126,432 | 22,619 | 149,051 | 28,325 | |
| ================================ | ============================ | ================================ | ============================ |
11. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2022 | Total 2021 | |
| £ | £ | £ | |
| Premises | 6,187 | 6,187 | 3,900 |
| Communications and IT | 18 | 18 | 40 |
| General office | 224 | 224 | 6,770 |
| Finance costs | 2,292 | 2,292 | 1,378 |
| Governance costs | 2,288 | 2,288 | 2,550 |
| Professional fees | 11,610 | 11,610 | – |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 22,619 | 22,619 | 14,638 | |
| ============================ | ============================ | ============================ | |
| Net income | |||
| Net income is stated after charging/(crediting): | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 33,260 | – | |
| ============================ | ============== |
12. Net income
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
13. Auditors remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable for the audit of the financial statements | – | 3,700 |
| ======================= | ======================= | |
| Independent examination fees | ||
| 2022 | 2021 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 2,000 | – |
| ======================= | ============== |
14. Independent examination fees
15. Staff costs
There were no employees during the period.
16. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
17. Extraordinary items
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Extraordinary charges | (4,738,608) | – |
| ========================================= | ============== |
The extraordinary item relates to the writing down of the value of fixed assets.
The large growing community in the North East of England which is based in Gateshead needed to replace its existing functional building which was dilapidated and unfit for use. There were also a number of health and safety issues which were becoming apparent. After detailed consultation with community leaders and members of the community the consensus of opinion was that the rebuilding of the Community centre and Mikva was essential for the communities survival.
The building was completed in 2020 and was designed and constructed to meet the communities needs and to facilitate its continued expansion and development.
The project has been an outstanding success and is usage has exceeded all expectation both from within the local community and around the North East of England.
The development was designed for its charitable purpose as a Mikva and community centre and its cost represents a fair value to the community.
However, as its use is specific as a Mikva and community centre a valuation carried out by RICS registered valuer the market value based on its non functional use is lower than cost. The trustees have therefore made the decision to write down the value of the asset to its market value.
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
18. Tangible fixed assets
| Land and | Fixtures and | ||
|---|---|---|---|
| buildings | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 July 2021 | 6,048,783 | 57,049 | 6,105,832 |
| Additions | 49,824 | 109,252 | 159,076 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| At 30 June 2022 | 6,098,607 | 166,301 | 6,264,908 |
| ========================================= | ================================ | ========================================= | |
| Depreciation | |||
| At 1 July 2021 | – | – | – |
| Charge for the year | – | 33,260 | 33,260 |
| Impairment losses | 4,738,608 | – | 4,738,608 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| At 30 June 2022 | 4,738,608 | 33,260 | 4,771,868 |
| ========================================= | ================================ | ========================================= | |
| Carrying amount | |||
| At 30 June 2022 | 1,359,999 | 133,041 | 1,493,040 |
| ========================================= | ================================ | ========================================= | |
| At 30 June 2021 | 6,048,783 | 57,049 | 6,105,832 |
| ========================================= | ================================ | ========================================= |
For details of the impairment of Land & Buildings, see note 17.
Historical cost of Land and Buildings is £6,098,607.
19. Creditors: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts | 43 | – |
| Accruals and deferred income | 5,750 | 3,750 |
| Other creditors | 389,386 | 465,461 |
| -------------------------------- | -------------------------------- | |
| 395,179 | 469,211 | |
| ================================ | ================================ | |
| Creditors: amounts falling due after more than one year | ||
| 2022 | 2021 | |
| £ | £ | |
| Bank loans and overdrafts | 43,880 | 49,436 |
| Other creditors | 250,000 | 450,000 |
| -------------------------------- | -------------------------------- | |
| 293,880 | 499,436 | |
| ================================ | ================================ |
20. Creditors: amounts falling due after more than one year
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Gateshead Kehilla Building Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 30 June 202 | |||
| 1 July 2021 | Income | Expenditure | 2 | |
| £ | £ | £ | £ | |
| General funds | 5,516,643 | 453,589 | (4,892,786) | 1,077,446 |
| ========================================= | ================================ | ========================================= | ========================================= | |
| At | At | |||
| 1 July 2020 | Income | Expenditure | 30 June 2021 | |
| £ | £ | £ | £ | |
| General funds | 4,707,071 | 838,825 | (29,253) | 5,516,643 |
| ========================================= | ================================ | ============================ | ========================================= | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Tangible fixed assets | 1,493,040 | 1,493,040 | ||
| Current assets | 273,465 | 273,465 | ||
| Creditors less than 1 year | (645,179) | (645,179) |
||
| Creditors greater than 1 year | (43,880) | (43,880) |
||
| ----------------------------------------- | ----------------------------------------- | |||
| Net assets | 1,077,446 | 1,077,446 | ||
| ========================================= | ========================================= | |||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| £ | £ | |||
| Tangible fixed assets | 6,105,832 | 6,105,832 | ||
| Current assets | 379,458 | 379,458 | ||
| Creditors less than 1 year | (919,211) | (919,211) |
||
| Creditors greater than 1 year | (49,436) | (49,436) |
||
| ----------------------------------------- | ----------------------------------------- | |||
| Net assets | 5,516,643 | 5,516,643 | ||
| ========================================= | ========================================= |
22. Analysis of net assets between funds
23. Taxation
Gateshead Kehilla Building Foundation is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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