REGISTERED CHARITY NUMBER: 1167289
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
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 2022
| 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 2022
The trustees present their report with the financial statements of the charity for the year ended 31st March 2022. 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.
Significant activities
The Trustees awarded a grant of £60,721 to the building fund of Kehillas Netzach Yisroel ( A registered charity) and in turn have been assigned rent free use of the building for the next ten years, by Shema Bni for its outreach activities.
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
The statement of financial activities show a net deficit for the year of £6,177 ( 2021-surplus: £24,621). The net reserves of £54,870 (2021 : £64,647) 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 2022
Principal address 14 Highview Avenue Edgware Middlesex HA8 9TZ
Trustees
B Solomon (resigned 21.1.2022) A Cohen R D Joseph Dr W Abelman (appointed 21.1.2022)
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 13th January 2023 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 2022.
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: January 2023
Page 3
SHEMA BENI
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities 2 Advertising and Promotion Administrative costs Finance charges Travelling costs Educational outreach and seminars Property costs Governance costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted fund £ 209,293 4,950 9,834 160 1,855 193,448 1,750 3,473 215,470 (6,177) 64,647 58,470 |
2021 Total funds £ 138,324 |
|---|---|---|
| 4,278 11,761 - 110 95,804 1,750 - |
||
| 113,703 | ||
| 24,621 40,026 |
||
| 64,647 |
The notes form part of these financial statements
Page 4
SHEMA BENI
STATEMENT OF FINANCIAL POSITION 31ST MARCH 2022
| 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 |
2022 Unrestricted fund £ 1,072 - 70,868 70,868 (13,470) 57,398 58,470 58,470 58,470 58,470 |
2021 Total funds £ 1,322 6,088 108,222 114,310 (50,985) 63,325 64,647 64,647 64,647 64,647 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 13th January 2023 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 2022
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.
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.
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
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022
2. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | ||||
|---|---|---|---|---|
| Direct Costs £ Advertising and Promotion - Administrative costs 997 Finance charges - Travelling costs - Educational outreach and seminars 132,727 Property costs 1,750 Governance costs - 135,474 SUPPORT COSTS Management £ Advertising and Promotion 4,950 Administrative costs 8,362 Finance charges - Travelling costs 1,855 Governance costs - 15,167 |
Grant funding of activities £ - - - - 60,721 - - 60,721 Finance £ - - 160 - - 160 |
Support costs (see note 3) £ 4,950 8,837 160 1,855 - - 3,473 19,275 Governance costs £ - 475 - - 3,473 3,948 |
Totals £ 4,950 9,834 160 1,855 193,448 1,750 3,473 |
|
| 215,470 | ||||
| Totals £ 4,950 8,837 160 1,855 3,473 |
||||
| 19,275 |
3. SUPPORT COSTS
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2022 nor for the year ended 31st March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2022 nor for the year ended 31st March 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 138,324 |
| EXPENDITURE ON | |
| Charitable activities | |
| Advertising and Promotion | 4,278 |
| Administrative costs | 11,761 |
| Travelling costs | 110 |
| Educational outreach and seminars | 95,804 |
| Property costs | 1,750 |
| Total | 113,703 |
Page 7
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted fund £ NET INCOME 24,621 RECONCILIATION OF FUNDS Total funds brought forward 40,026 TOTAL FUNDS CARRIED FORWARD 64,647 6. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment Totals £ £ £ COST At 1st April 2021 1,027 2,236 3,263 Additions - 225 225 At 31st March 2022 1,027 2,461 3,488 DEPRECIATION At 1st April 2021 642 1,299 1,941 Charge for year 96 379 475 At 31st March 2022 738 1,678 2,416 NET BOOK VALUE At 31st March 2022 289 783 1,072 At 31st March 2021 385 937 1,322 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 £ £ Trade debtors - 6,088 |
Unrestricted fund £ NET INCOME 24,621 RECONCILIATION OF FUNDS Total funds brought forward 40,026 TOTAL FUNDS CARRIED FORWARD 64,647 6. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment Totals £ £ £ COST At 1st April 2021 1,027 2,236 3,263 Additions - 225 225 At 31st March 2022 1,027 2,461 3,488 DEPRECIATION At 1st April 2021 642 1,299 1,941 Charge for year 96 379 475 At 31st March 2022 738 1,678 2,416 NET BOOK VALUE At 31st March 2022 289 783 1,072 At 31st March 2021 385 937 1,322 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 £ £ Trade debtors - 6,088 |
Unrestricted fund £ NET INCOME 24,621 RECONCILIATION OF FUNDS Total funds brought forward 40,026 TOTAL FUNDS CARRIED FORWARD 64,647 6. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment Totals £ £ £ COST At 1st April 2021 1,027 2,236 3,263 Additions - 225 225 At 31st March 2022 1,027 2,461 3,488 DEPRECIATION At 1st April 2021 642 1,299 1,941 Charge for year 96 379 475 At 31st March 2022 738 1,678 2,416 NET BOOK VALUE At 31st March 2022 289 783 1,072 At 31st March 2021 385 937 1,322 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 £ £ Trade debtors - 6,088 |
|---|---|---|
| 24,621 40,026 |
||
| 64,647 | ||
| Totals £ 3,263 225 3,488 1,941 475 2,416 1,072 1,322 2021 £ 6,088 |
Page 8
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 9) Other creditors |
2022 £ 12,500 970 13,470 |
2021 £ 50,000 985 |
|---|---|---|
| 50,985 |
9. LOANS
An analysis of the maturity of loans is given below:
| Amounts falling due within one year on demand: Bank loans 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 Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1/4/21 £ 64,647 64,647 Incoming resources £ 209,293 209,293 At 1/4/20 £ 40,026 40,026 |
2022 2021 £ £ 12,500 50,000 Net movement At in funds 31/3/22 £ £ (6,177) 58,470 (6,177) 58,470 Resources Movement expended in funds £ £ (215,470) (6,177) (215,470) (6,177) Net movement At in funds 31/3/21 £ £ 24,621 64,647 24,621 64,647 |
2022 2021 £ £ 12,500 50,000 Net movement At in funds 31/3/22 £ £ (6,177) 58,470 (6,177) 58,470 Resources Movement expended in funds £ £ (215,470) (6,177) (215,470) (6,177) Net movement At in funds 31/3/21 £ £ 24,621 64,647 24,621 64,647 |
2021 £ 50,000 |
|---|---|---|---|---|
| At 31/3/22 £ 58,470 |
||||
| 58,470 | ||||
| (6,177) | ||||
| At 31/3/21 £ 64,647 |
||||
| 64,647 |
10. MOVEMENT IN FUNDS
Page 9
SHEMA BENI
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2022
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 138,324 138,324 |
Resources Movement expended in funds £ £ (113,703) 24,621 (113,703) 24,621 |
Resources Movement expended in funds £ £ (113,703) 24,621 (113,703) 24,621 |
|---|---|---|---|
| 24,621 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1/4/20 in funds £ £ 40,026 18,444 40,026 18,444 |
At 31/3/22 £ 58,470 |
|---|---|---|
| 58,470 |
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 £ 347,617 347,617 |
Resources Movement expended in funds £ £ (329,173) 18,444 (329,173) 18,444 |
Resources Movement expended in funds £ £ (329,173) 18,444 (329,173) 18,444 |
|---|---|---|---|
| 18,444 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2022.
Page 10
SHEMA BENI
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022
| 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 Grants to institutions 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 Finance Bank loan interest Governance costs Accountancy and professional Legal and professional Fixtures and fittings Computer equipment Total resources expended Net (expenditure)/income |
2022 £ 209,293 209,293 997 127,150 1,750 5,577 60,721 196,195 712 579 - 4,950 2,002 5,069 1,855 15,167 160 960 2,513 96 379 3,948 215,470 (6,177) |
2021 £ 138,324 |
|---|---|---|
| 138,324 846 87,970 1,750 7,834 - |
||
| 98,400 1,951 773 420 4,278 1,815 2,572 110 |
||
| 11,919 - 985 1,840 128 431 |
||
| 3,384 | ||
| 113,703 | ||
| 24,621 |
This page does not form part of the statutory financial statements
Page 11