**REGISTERED COMPANY NUMBER: 09422769 (England and Wales) REGISTERED CHARITY NUMBER: 1166398** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 28 February 2021** ## **for** **Isaac and Chaya Limited** Martin+Heller 5 North End Road London NW11 7RJ **Isaac and Chaya Limited** **Contents of the Financial Statements for the Year Ended 28 February 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Statement of Financial Activities**||3|| |**Balance Sheet**||4|| |**Notes to the Financial Statements**|5|to|7| |**Detailed Statement of Financial Activities**||8|| **Isaac and Chaya Limited** ## **Report of the Trustees for the Year Ended 28 February 2021** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity's object and its principal activity continue to be that of providing grants for the enhancement of education and religion in the orthodox jewish community. Its policy continues to be the making of such grants. ## **Significant activities** There were no significant activities to report. ## **Public benefit** The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities. ## **Grantmaking** Isaac and Chaya Limited has within its Articles of Association the ability to make donations. ## **Volunteers** During the year, the charity did not have any volunteers to help with the objective of the charity. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The trustees consider that the performance of the charity this year has been satisfactory. The Statement of Financial Activities shows a net deficits of £(6,208) after making total grants of £30,705 and the reserves stand at £2,815 ## **FINANCIAL REVIEW** ## **Principal funding sources** Isaac and Chaya Limited is pleased and fortunate to receive donations from it's related company PWorld.UK Limited. ## **Reserves policy** The charity does not maintain a reserve policy,as reserves are distributed when they become available at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory ## **FUTURE PLANS** There are no significant future developments to report. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The company was formed on 04 February 2015. The charity is managed and controlled by the directors who are the trustees, who meet regularly. Page 1 **Isaac and Chaya Limited** ## **Report of the Trustees for the Year Ended 28 February 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Recruitment and appointment of new trustees** The trustees are appointed according to the Articles of Association. ## **Organisational structure** The Chief Executive of the charity is Rabbi J A Brunner, to whom day to day management of the charity has been delegated. The Board of Trustee, as per the governing document, can have at up to 2 trustees serving at anyone time to administer the charity. The entire board meets on a regular basis, at least quarterly, or more if required. The charity is organised so that the trustees meet regularly to manage its affairs. There are no paid employees and all administration work is done on voluntary basis by the trustees. ## **Induction and training of new trustees** All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charities views of its progression. New trustees undergo a briefing to ensure they are aware of both their legal and professional responsibilities under charity and company law. ## **Wider network** At present Isaac and Chaya Limited does not consider itself part of a wider network. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 09422769 (England and Wales) ## **Registered Charity number** 1166398 ## **Registered office** 5 North End Road London NW11 7RJ ## **Trustees** Rabbi J A Brunner Rabbi J M Rosenbaum Approved by order of the board of trustees on ............................................. and signed on its behalf by: .......................................................................... Rabbi J A Brunner - Trustee Page 2 **Isaac and Chaya Limited** ## **Statement of Financial Activities for the Year Ended 28 February 2021** |||28.2.21|29.2.20| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||26,500|61,300| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |donations paid||30,705|60,780| |Other||2,003|1,391| |**Total**||32,708|62,171| |**NET INCOME/(EXPENDITURE)**||(6,208)|(871)| |**RECONCILIATION OF FUNDS**|||| |**Total funds brought forward**||9,023|9,894| |**TOTAL FUNDS CARRIED FORWARD**||2,815|9,023| The notes form part of these financial statements Page 3 **Isaac and Chaya Limited** ## **Balance Sheet 28 February 2021** |||28.2.21|29.2.20| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**CURRENT ASSETS**|||| |Cash at bank||5,115|11,323| |**CREDITORS**|||| |Amounts falling due within one year|3|(2,300)|(2,300)| |**NET CURRENT ASSETS**||2,815|9,023| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||2,815|9,023| |**NET ASSETS**||2,815|9,023| |**FUNDS**|4||| |Unrestricted funds||2,815|9,023| |**TOTAL FUNDS**||2,815|9,023| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006. ## The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. J A Brunner - Trustee The notes form part of these financial statements Page 4 **Isaac and Chaya Limited** **Notes to the Financial Statements for the Year Ended 28 February 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 28 February 2021 nor for the year ended 29 February 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 28 February 2021 nor for the year ended 29 February 2020. Page 5 continued... **Isaac and Chaya Limited** **Notes to the Financial Statements - continued for the Year Ended 28 February 2021** ## **3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||||28.2.21|29.2.20| |---|---|---|---|---| ||||£|£| ||Other creditors||1,100|1,100| ||Accrued expenses||1,200|1,200| ||||2,300|2,300| |**4.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1/3/20|in funds|28/2/21| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|9,023|(6,208)|2,815| ||**TOTAL FUNDS**|9,023|(6,208)|2,815| ||Net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|26,500|(32,708)|(6,208)| ||**TOTAL FUNDS**|26,500|(32,708)|(6,208)| ||**Comparatives for movement in funds**|||| ||||Net|| ||||movement|At| |||At 1/3/19|in funds|29/2/20| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|9,894|(871)|9,023| ||**TOTAL FUNDS**|9,894|(871)|9,023| Page 6 continued... **Isaac and Chaya Limited** **Notes to the Financial Statements - continued for the Year Ended 28 February 2021** ## **4. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|61,300|(62,171)|(871)| |**TOTAL FUNDS**|61,300|(62,171)|(871)| ## **5. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 28 February 2021. Page 7 **Isaac and Chaya Limited** ## **Detailed Statement of Financial Activities for the Year Ended 28 February 2021** ||28.2.21|29.2.20| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|26,500|61,300| |**Total incoming resources**|26,500|61,300| |**EXPENDITURE**||| |**Charitable activities**||| |Grants to institutions|30,505|60,780| |Grants to individuals|200|-| ||30,705|60,780| |**Support costs**||| |**Governance costs**||| |Exchange gain|310|(120)| |Bank charges|253|311| |Accountancy|1,200|1,200| |Legal & professional fees|240|-| ||2,003|1,391| |Total resources expended|32,708|62,171| |**Net expenditure**|(6,208)|(871)| This page does not form part of the statutory financial statements Page 8