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 2023
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 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 7 |
Isaac and Chaya Limited (Registered number: 09422769)
Report of the Trustees
for the Year Ended 28 February 2023
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 2023. 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 surplus of £534 (2022: Net deficit £1,143) after making total grants of £35,301 (2022: £64,705) and the reserves stand at £2,206 (2022: £1,672)
FINANCIAL REVIEW
Principal funding sources
Isaac and Chaya Limited is pleased and fortunate to receive donations from it's related companies PWorld.UK Ltd and Gateway Sight Ltd
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.
Recruitment and appointment of new trustees
The trustees are appointed according to the Articles of Association.
Page 1
Isaac and Chaya Limited (Registered number: 09422769)
Report of the Trustees
for the Year Ended 28 February 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
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 4 December 2023 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 2023
| 28.2.23 | 28.2.22 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 40,375 | 65,136 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Donations paid | 35,301 | 64,705 | |
| Other charitable activities | 2,962 | - | |
| Other | 1,578 | 1,574 | |
| Total | 39,841 | 66,279 | |
| NET INCOME/(EXPENDITURE) | 534 | (1,143) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,672 | 2,815 | |
| TOTAL FUNDS CARRIED FORWARD | 2,206 | 1,672 |
The notes form part of these financial statements
Page 3
Isaac and Chaya Limited (Registered number: 09422769)
Balance Sheet
28 February 2023
| 28.2.23 | 28.2.22 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | Total funds | |||
| Notes | £ | £ | ||
| CURRENT ASSETS | ||||
| Cash at bank | 4,506 | 3,972 | ||
| CREDITORS | ||||
| Amounts falling due within one year | 3 | (2,300) | (2,300) | |
| NET CURRENT ASSETS | 2,206 | 1,672 | ||
| TOTAL ASSETS LESS CURRENT | ||||
| LIABILITIES | 2,206 | 1,672 | ||
| NET ASSETS | 2,206 | 1,672 | ||
| FUNDS | 4 | |||
| Unrestricted funds | 2,206 | 1,672 | ||
| TOTAL FUNDS | 2,206 | 1,672 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 4 December 2023 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 2023
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 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
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continued...
Isaac and Chaya Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 28.2.23 | 28.2.22 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors | 1,100 | 1,100 | |
| Accrued expenses | 1,200 | 1,200 | |
| 2,300 | 2,300 | ||
| MOVEMENT IN FUNDS | |||
| Net | |||
| movement | |||
| At 1/3/22 | in funds | At 28/2/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,672 | 534 | 2,206 |
| TOTAL FUNDS | 1,672 | 534 | 2,206 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 40,375 | (39,841) | 534 |
| TOTAL FUNDS | 40,375 | (39,841) | 534 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | |||
| At 1/3/21 | in funds | At 28/2/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,815 | (1,143) | 1,672 |
| TOTAL FUNDS | 2,815 | (1,143) | 1,672 |
4. MOVEMENT IN FUNDS
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continued...
Isaac and Chaya Limited
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
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 | 65,136 | (66,279) | (1,143) |
| TOTAL FUNDS | 65,136 | (66,279) | (1,143) |
5. RELATED PARTY DISCLOSURES
During the year the charity received the following donations from it's related companies.
| 2023 (£) | 2022 (£) | |
|---|---|---|
| PWorld.UK Ltd | 24,000 | 65,000 |
| Gateway Sight Ltd | 16,000 | - |
| ------------ | ----------- | |
| 40,000 | 65,000 | |
| ------------ | ----------- |
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