LUBAVITCH KOLLEL ( Charitable Incorporated Organisation CIO)
Trustees' report and financial statements for the year ended 31 March 2022
LUBAVITCH KOLLEL
Contents
| Page | |
|---|---|
| Reference and administrative information | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 8 |
LUBAVITCH KOLLEL
Reference and administrative information
| Trustees | Dayan LY Raskin |
|---|---|
| Mr B Davidoff | |
| Mr E Potash | |
| Charity number | 1166002 |
| Office | 37 Norfolk Avenue |
| London N15 6JX | |
| Independent examiner | B G Mordfield FMAAT |
| 11 Hurstdene Gardens | |
| London N15 6NA | |
| Bankers | TSB Bank plc |
| Chippenham |
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LUBAVITCH KOLLEL
Trustees' report for the year ended 31 March 2022
Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
Constitution
The charity was registered on 11 March 2016 and is constituted as a Charitable Incorporated Organisation.
Organisation
The power to appoint new trustees is vested in the board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
Objects for public benefit
The objects of the charity are the advancement of the Orthodox Jewish Religion, Orthodox Jewish Education and the relief of poverty amongst those of the Jewish faith. In carrying out the objects the charity provides classes and a library for study. Financial support is given for study and research and grants to the poor and needy.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
Review and activities
The trustees are satisfied with the results for the year. There was an increase in donations due to a fundraising campaign. Rooms used by the charity were refurbished. The charity continued with religious education courses and awarding study grants. Functions held at appropriate times in the Jewish calendar. There charity was left with a surplus for the year.
Reserve policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £3,170 (2021 - £2,548).
Risk review
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are required to;
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
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LUBAVITCH KOLLEL
Trustees' report
for the year ended 31 March 2022
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the trustees and signed on their behalf on 22 February 2023 by
Dayan LY Raskin Trustee
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LUBAVITCH KOLLEL
Independent examiner's report to the trustees on the unaudited financial statements of LUBAVITCH KOLLEL Charitable Incorporated Organisation(the CIO)
I report to the trustees on my examination of the financial statements of the CIO for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the CIO you are are responsible for the preparation of the finacial statements in accordance with the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the CIO's accounts carried out under section 145 of the Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I 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:
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accounting records were not kept as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the account do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Account and Reports) Regulations 2008 other than any requirement that accounts give a 'true and fair view' which is not a matter considered as part of the independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention sholuld be drawn in this report in order to enable a proper understanding of the accounts to be reached.
B G Mordfield FMAAT 11 Hurstdene Gardens London N15 6NA
22 February 2023
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LUBAVITCH KOLLEL
Statement of financial activities for the year ended 31 March 2022
| Unrestricted 2022 funds Total Notes £ £ Income Donations 59,231 59,231 Grants - - Fee income from religious education 18,647 18,647 Total income 77,878 77,878 Expenditure Cost of raising funds ) (3,110 ) (3,110 Charitable activities 2 ) (74,146 ) (74,146 Total expenditure ) (77,256 ) (77,256 Net income for the year 622 622 Reconciliation of funds Total funds brought forward 2,548 2,548 Total funds carried forward 3,170 3,170 |
2021 Total £ 33,850 16,020 20,074 69,944 - ) (68,893 ) (68,893 1,051 1,497 2,548 |
|---|---|
The notes on page 7 form an integral part of these financial statements.
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LUBAVITCH KOLLEL
Balance sheet as at 31 March 2022
| Notes Current assets Cash at bank and in hand Net current assets Net assets Funds of the charity Unrestricted funds |
2022 £ 3,170 3,170 |
£ 3,170 3,170 3,170 3,170 |
2021 £ 2,548 2,548 |
£ 2,548 |
|---|---|---|---|---|
| 2,548 | ||||
| 2,548 | ||||
| 2,548 |
The financial statements were approved by the trustees on 22 February 2023 and signed on their behalf by
Dayan LY Raskin Trustee
The notes on page 7 form an integral part of these financial statements.
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LUBAVITCH KOLLEL
Notes to the financial statements for the year ended 31 March 2022
1. Accounting policies
1.1. Accounting convention
- The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared under the historical cost convention and in accordancewith Accounting and Reporting by Charities: 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 (Charities SORP FRS 102- effective 1 January 2019) and the Charities Act 2011.
1.2. Income
Income received by way of donations is accounted for when received.
1.3. Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
1.4. Going concern
There are no material uncertainties about the charity’s ability to continue.
2. Charitable activities
| Study grants Grants to individuals - poor and needy Educational classes & religious functions Support costs |
2022 £ 58,159 2,350 5,879 7,758 74,146 |
2021 £ 63,708 - 3,625 1,561 |
|---|---|---|
| 68,894 |
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LUBAVITCH KOLLEL
Notes to the financial statements for the year ended 31 March 2022
3. Employees
Number of employees
| Number of employees | ||||
|---|---|---|---|---|
| The average monthly numbers of employees | 2022 | 2021 | ||
| (excluding the trustees) during the year were: | Number | Number | ||
| 1 | 1 | |||
| Employment costs | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Wages and salaries | 9,363 | 11,685 |
4. Trustees' emoluments
No trustee received remuneration, allowance for or reimbursement of expenses.
5. Related party transactions
Two sons of a trustee received study grants and wages, the total sum being £17,983.
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