REGISTERED CHARITY NUMBER: 1167289
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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 31 MARCH 2021
| 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 | 11 |
SHEMA BENI
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 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 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 2021 totalling £108,222 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 surplus for the year of £24,621 ( deficit 2020: £34,675). The net reserves of £64,647 (2020 : £40,026) 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 31 MARCH 2021
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 7 January 2022 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 31 March 2021.
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
7 January 2022
Page 3
SHEMA BENI
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities 2 Advertising and Promotion Administrative costs Travelling costs Educational outreach and seminars Property costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 138,324 4,278 11,761 110 95,804 1,750 113,703 24,621 40,026 64,647 |
2020 Total funds £ 149,602 1,496 10,760 4,134 165,167 2,720 |
|---|---|---|
| 184,277 | ||
| (34,675) 74,701 |
||
| 40,026 |
The notes form part of these financial statements
Page 4
SHEMA BENI
STATEMENT OF FINANCIAL POSITION 31 MARCH 2021
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
2021 Unrestricted fund £ 1,322 6,088 108,222 114,310 (50,985) 63,325 64,647 64,647 64,647 64,647 |
2020 Total funds £ 770 6,513 39,316 |
|---|---|---|
| 45,829 (6,573) |
||
| 39,256 | ||
| 40,026 | ||
| 40,026 | ||
| 40,026 | ||
| 40,026 |
The financial statements were approved by the Board of Trustees and authorised for issue on 7 January 2022 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 31 MARCH 2021
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.
Page 6
continued...
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
2. CHARITABLE ACTIVITIES COSTS
| Direct Costs £ Advertising and Promotion - Administrative costs 846 Travelling costs - Educational outreach and seminars 95,804 Property costs 1,750 98,400 SUPPORT COSTS Management £ Advertising and Promotion 4,278 Administrative costs 7,531 Travelling costs 110 11,919 |
Support costs (see note 3) £ 4,278 10,915 110 - - 15,303 Governance costs £ - 3,384 - 3,384 |
Totals £ 4,278 11,761 110 95,804 1,750 |
Totals £ 4,278 11,761 110 95,804 1,750 |
|---|---|---|---|
| 113,703 | |||
| Totals £ 4,278 10,915 110 |
|||
| 15,303 |
3. SUPPORT COSTS
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 149,602 |
| EXPENDITURE ON | |
| Charitable activities | |
| 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) |
continued...
Page 7
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted fund £ RECONCILIATION OF FUNDS Total funds brought forward 74,701 TOTAL FUNDS CARRIED FORWARD 40,026 6. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment Totals £ £ £ COST At 1 April 2020 1,027 1,125 2,152 Additions - 1,111 1,111 At 31 March 2021 1,027 2,236 3,263 DEPRECIATION At 1 April 2020 514 868 1,382 Charge for year 128 431 559 At 31 March 2021 642 1,299 1,941 NET BOOK VALUE At 31 March 2021 385 937 1,322 At 31 March 2020 513 257 770 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Trade debtors 6,088 6,513 |
Unrestricted fund £ RECONCILIATION OF FUNDS Total funds brought forward 74,701 TOTAL FUNDS CARRIED FORWARD 40,026 6. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment Totals £ £ £ COST At 1 April 2020 1,027 1,125 2,152 Additions - 1,111 1,111 At 31 March 2021 1,027 2,236 3,263 DEPRECIATION At 1 April 2020 514 868 1,382 Charge for year 128 431 559 At 31 March 2021 642 1,299 1,941 NET BOOK VALUE At 31 March 2021 385 937 1,322 At 31 March 2020 513 257 770 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Trade debtors 6,088 6,513 |
Unrestricted fund £ RECONCILIATION OF FUNDS Total funds brought forward 74,701 TOTAL FUNDS CARRIED FORWARD 40,026 6. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment Totals £ £ £ COST At 1 April 2020 1,027 1,125 2,152 Additions - 1,111 1,111 At 31 March 2021 1,027 2,236 3,263 DEPRECIATION At 1 April 2020 514 868 1,382 Charge for year 128 431 559 At 31 March 2021 642 1,299 1,941 NET BOOK VALUE At 31 March 2021 385 937 1,322 At 31 March 2020 513 257 770 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Trade debtors 6,088 6,513 |
|---|---|---|
| 40,026 | ||
| Totals £ 2,152 1,111 3,263 1,382 559 1,941 1,322 770 2020 £ 6,513 |
continued...
Page 8
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 9) Trade creditors Other creditors 9. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.4.20 £ 40,026 40,026 Incoming resources £ 138,324 138,324 |
2021 2020 £ £ 50,000 - - 5,713 985 860 50,985 6,573 2021 2020 £ £ 50,000 - Net movement At in funds 31.3.21 £ £ 24,621 64,647 24,621 64,647 Resources Movement expended in funds £ £ (113,703) 24,621 (113,703) 24,621 |
2021 2020 £ £ 50,000 - - 5,713 985 860 50,985 6,573 2021 2020 £ £ 50,000 - Net movement At in funds 31.3.21 £ £ 24,621 64,647 24,621 64,647 Resources Movement expended in funds £ £ (113,703) 24,621 (113,703) 24,621 |
2020 £ - 5,713 860 |
|---|---|---|---|---|
| 6,573 | ||||
| 2020 £ - |
||||
| At 31.3.21 £ 64,647 |
||||
| 64,647 | ||||
| 24,621 |
continued...
Page 9
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.4.19 in funds £ £ 74,701 (34,675) 74,701 (34,675) |
At 31.3.20 £ 40,026 |
|---|---|---|
| 40,026 |
Comparative 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) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.4.19 in funds £ £ 74,701 (10,054) 74,701 (10,054) |
At 31.3.21 £ 64,647 |
|---|---|---|
| 64,647 |
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 £ 287,926 287,926 |
Resources Movement expended in funds £ £ (297,980) (10,054) (297,980) (10,054) |
|---|---|---|
continued...
Page 10
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 11