REGISTERED CHARITY NUMBER: 1167289
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2020
FOR
SHEMA BENI
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
SHEMA BENI
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
SHEMA BENI
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2020
The trustees present their report with the financial statements of the charity for the year ended 31st March 2020. 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 activities are:
The promotion of the Orthodox Jewish religion and the advancement of education in the Jewish religion.
The Charity is organized so that the Directors and Trustees meet regularly to manage its affairs.
Public benefit
The trustees have carefully considered the public benefit requirements and their duty to ensure that they are compliant with them. They feel that the activities as detailed below, more than adequately, satisfy the public benefit requirement.
The trustees continue to operate within the confines of the charity objectives namely in the respect of the advancement of Orthodox Jewish education by providing educational outreach programmes as well as worship facilities which are open to all members of the Jewish Faith.
Volunteers
We are grateful to the average of 8 volunteers who assist the Charity in numerous ways.
FINANCIAL REVIEW
Reserves policy
The Trustees aim to keep a cash balance to cover at least three months operating expenditure of the charity and note that the cash balances as at 31st March 2020 totalling £39,316 were in accordance with this policy
Post Balance Sheet Events and Covid
In light of the finance information available after the balance sheet date the Trustees feel confident that they have considered every reasonable eventuality and that Shema Bni is a going concern.
The statement of financial activities show a net deficit for the year of £34,675 ( surplus 2019: £17,451). The net reserves of £40,026 (2019 : £74,701) will be carried forward to the following year to be used towards the charity's objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is controlled by its governing document, a deed of trust and constitute a Charitable Incorporated Organisation.
Recruitment and appointment of new trustees
Appointment of Trustees is governed by the Trust Deed of the Charity. All of the Trustees named above served throughout the year. The Board has the power to appoint additional trustees as it considers fit to do so.
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1167289
Page 1
SHEMA BENI
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2020
Principal address 14 Highview Avenue Edgware Middlesex HA8 9TZ
Trustees B Solomon A Cohen R D Joseph
Independent Examiner
Akiva Kahan FCA Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
Approved by order of the board of trustees on 11th June 2021 and signed on its behalf by:
A Cohen - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHEMA BENI
Independent examiner's report to the trustees of Shema Beni
I report to the charity trustees on my examination of the accounts of Shema Beni (the Trust) for the year ended 31st March 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Akiva Kahan FCA Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE Date: June 2021
Page 3
SHEMA BENI
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2020
| 2020 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 149,602 EXPENDITURE ON Charitable activities 2 Advertising and Promotion 1,496 Administrative costs 10,760 Travelling costs 4,134 Educational outreach and seminars 165,167 Property costs 2,720 Total 184,277 NET INCOME/(EXPENDITURE) (34,675) RECONCILIATION OF FUNDS Total funds brought forward 74,701 TOTAL FUNDS CARRIED FORWARD 40,026 |
2019 Total funds £ 169,052 3,009 9,535 6,703 116,560 15,794 |
|---|---|
| 151,601 | |
| 17,451 57,250 |
|
| 74,701 |
The notes form part of these financial statements
Page 4
SHEMA BENI
STATEMENT OF FINANCIAL POSITION 31ST MARCH 2020
| 2020 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 770 CURRENT ASSETS Debtors 7 6,513 Cash at bank 39,316 45,829 CREDITORS Amounts falling due within one year 8 (6,573) NET CURRENT ASSETS 39,256 TOTAL ASSETS LESS CURRENT LIABILITIES 40,026 NET ASSETS 40,026 FUNDS 9 Unrestricted funds 40,026 TOTAL FUNDS 40,026 |
2019 Total funds £ 1,308 6,500 67,753 74,253 (860) 73,393 74,701 74,701 74,701 74,701 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11th June 2021 and were signed on its behalf by:
A Cohen - Trustee
The notes form part of these financial statements
Page 5
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Fixtures and fittings | - 25% on cost |
|---|---|
| Computer equipment | - 25% on cost |
Taxation
The charity is exempt from 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. CHARITABLE ACTIVITIES COSTS
| Advertising and Promotion Administrative costs Travelling costs Educational outreach and seminars Property costs |
Direct Costs £ - 529 - 165,167 2,720 168,416 |
Support costs (see note 3) £ 1,496 10,231 4,134 - - 15,861 |
Totals £ 1,496 10,760 4,134 165,167 2,720 |
|---|---|---|---|
| 184,277 |
Page 6
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2020
3. SUPPORT COSTS
| Governance Management costs £ £ Advertising and Promotion 1,496 - Administrative costs 8,833 1,398 Travelling costs 4,134 - 14,463 1,398 |
Totals £ 1,496 10,231 4,134 |
|---|---|
| 15,861 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2020 nor for the year ended 31st March 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2020 nor for the year ended 31st March 2019.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 169,052 |
| EXPENDITURE ON | |
| Charitable activities | |
| Advertising and Promotion | 3,009 |
| Administrative costs | 9,535 |
| Travelling costs | 6,703 |
| Educational outreach and seminars | 116,560 |
| Property costs | 15,794 |
| Total | 151,601 |
| NET INCOME | 17,451 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 57,250 |
| TOTAL FUNDS CARRIED FORWARD | 74,701 |
Page 7
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2020
| 6. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Fixtures | ||||
| and | Computer | |||
| fittings | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1st April 2019 and 31st March 2020 | 1,027 | 1,125 | 2,152 | |
| DEPRECIATION | ||||
| At 1st April 2019 | 257 | 587 | 844 | |
| Charge for year | 257 | 281 | 538 | |
| At 31st March 2020 | 514 | 868 | 1,382 | |
| NET BOOK VALUE | ||||
| At 31st March 2020 | 513 | 257 | 770 | |
| At 31st March 2019 | 770 | 538 | 1,308 | |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2020 | 2019 | |||
| £ | £ | |||
| Trade debtors | 6,513 | 6,500 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2020 | 2019 | |||
| £ | £ | |||
| Trade creditors | 5,713 | - | ||
| Other creditors | 860 | 860 | ||
| 6,573 | 860 | |||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/4/19 | in funds | 31/3/20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 74,701 | (34,675) | 40,026 | |
| TOTAL FUNDS | 74,701 | (34,675) | 40,026 |
Page 8
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2020
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 149,602 149,602 |
Resources Movement expended in funds £ £ (184,277) (34,675) (184,277) (34,675) |
Resources Movement expended in funds £ £ (184,277) (34,675) (184,277) (34,675) |
|---|---|---|---|
| (34,675) |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/4/18 | in funds | 31/3/19 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 57,250 | 17,451 | 74,701 |
| TOTAL FUNDS | 57,250 | 17,451 | 74,701 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 169,052 169,052 |
Resources Movement expended in funds £ £ (151,601) 17,451 (151,601) 17,451 |
Resources Movement expended in funds £ £ (151,601) 17,451 (151,601) 17,451 |
|---|---|---|---|
| 17,451 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/4/18 | in funds | 31/3/20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 57,250 | (17,224) | 40,026 |
| TOTAL FUNDS | 57,250 | (17,224) | 40,026 |
Page 9
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2020
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 318,654 318,654 |
Resources Movement expended in funds £ £ (335,878) (17,224) (335,878) (17,224) |
|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2020.
Page 10
SHEMA BENI
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2020
| INCOME AND ENDOWMENTS Donations and legacies Donations from corporate spons Total incoming resources EXPENDITURE Charitable activities Insurance Educational outreach ,cultural activities and seminar Rent of premises Educational, tution and suppor costs Support costs Management Books and other materials Telephone Postage and stationery Advertising and promotional Admin and secretariat costs Computer and website costs Motor and travel Governance costs Accountancy and professional Fixtures and fittings Computer equipment Total resources expended Net (expenditure)/income |
2020 £ 149,602 149,602 529 136,804 2,720 28,363 168,416 1,042 1,077 486 1,496 5,840 388 4,134 14,463 860 257 281 1,398 184,277 (34,675) |
2019 £ 169,052 |
|---|---|---|
| 169,052 529 103,940 15,794 12,620 |
||
| 132,883 960 527 548 3,009 5,076 497 6,703 |
||
| 17,320 860 257 281 |
||
| 1,398 | ||
| 151,601 | ||
| 17,451 |
This page does not form part of the statutory financial statements
Page 11