**REGISTERED CHARITY NUMBER: 1167289**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023**
## **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 2023**
|||**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 31ST MARCH 2023**
The trustees present their report with the financial statements of the charity for the year ended 31st March 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 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 nil 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 Surplus for the year of £81,465 ( 2022 - Deficit: £6,177). The net reserves of £139,935 (2022 : £58,470) 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 2023**
## **Principal address**
14 Highview Avenue Edgware Middlesex HA8 9TZ
## **Trustees**
A Cohen R D Joseph Dr W Abelman
**Independent Examiner** Akiva Kahan Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
Approved by order of the board of trustees on 23rd February 2024 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 2023.
## **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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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 The Institute of Chartered Accountants in England and Wales
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE Date: February 2024
Page 3
## **SHEMA BENI**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023**
|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
Accountancy costs
Governance costs
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|2023
Unrestricted
fund
£
331,734
5,665
26,658
14
12,599
200,173
4,200
960
-
250,269
81,465
58,470
139,935|2022
Total
funds
£
209,293
4,950
9,834
160
1,855
193,448
1,750
-
3,473
215,470
(6,177)
64,647
58,470|
|---|---|---|
The notes form part of these financial statements
Page 4
**SHEMA BENI**
## **STATEMENT OF FINANCIAL POSITION 31ST MARCH 2023**
|Notes
**FIXED ASSETS**
Tangible assets
6
**CURRENT ASSETS**
Debtors
7
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|2023
Unrestricted
fund
£
1,104
2,500
149,193
151,693
(12,862)
138,831
139,935
139,935
139,935
139,935|2022
Total
funds
£
1,072
-
70,868
70,868
(13,470)
57,398
58,470
58,470
58,470
58,470|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 23rd February 2024 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 2023**
## **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 2023**
## **2. CHARITABLE ACTIVITIES COSTS**
|Advertising and Promotion
Administrative costs
Finance charges
Travelling costs
Educational outreach and seminars
Property costs
Accountancy costs
**SUPPORT COSTS**
Management
£
Advertising and Promotion
5,665
Administrative costs
21,764
Finance charges
14
Travelling costs
12,599
Accountancy costs
-
40,042|Direct
Costs
£
-
1,257
-
-
200,173
4,200
-
205,630
Finance
£
-
164
-
-
-
164|Support
costs (see
note 3)
£
5,665
25,401
14
12,599
-
-
960
44,639
Governance
costs
£
-
3,473
-
-
960
4,433|Totals
£
5,665
26,658
14
12,599
200,173
4,200
960|Totals
£
5,665
26,658
14
12,599
200,173
4,200
960|
|---|---|---|---|---|
||||250,269||
|||||Totals
£
5,665
25,401
14
12,599
960|
|||||44,639|
## **3. SUPPORT COSTS**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|209,293|
|**EXPENDITURE ON**||
|**Charitable activities**||
|Advertising and Promotion|4,950|
|Administrative costs|9,834|
|Finance charges|160|
|Travelling costs|1,855|
|Educational outreach and seminars|193,448|
|Property costs|1,750|
|Governance costs|3,473|
Page 7
**SHEMA BENI**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023**
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|||||Unrestricted|
|---|---|---|---|---|
|||||fund|
|||||£|
||**Total**|||215,470|
||**NET INCOME/(EXPENDITURE)**|||(6,177)|
||**RECONCILIATION OF FUNDS**||||
||Total funds brought forward|||64,647|
||**TOTAL FUNDS CARRIED FORWARD**|||58,470|
|**6.**|**TANGIBLE FIXED ASSETS**||||
|||Fixtures|||
|||and|Computer||
|||fittings|equipment|Totals|
|||£|£|£|
||**COST**||||
||At 1st April 2022|1,027|2,461|3,488|
||Additions|-|370|370|
||At 31st March 2023|1,027|2,831|3,858|
||**DEPRECIATION**||||
||At 1st April 2022|738|1,678|2,416|
||Charge for year|73|265|338|
||At 31st March 2023|811|1,943|2,754|
||**NET BOOK VALUE**||||
||At 31st March 2023|216|888|1,104|
||At 31st March 2022|289|783|1,072|
|**7.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
||||2023|2022|
||||£|£|
||Trade debtors||2,500|-|
Page 8
**SHEMA BENI**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023**
## **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 1/4/22
£
58,470
58,470
Incoming
resources
£
331,734
331,734|2023
2022
£
£
9,690
12,500
2,202
-
970
970
12,862
13,470
2023
2022
£
£
9,690
12,500
Net
movement
At
in funds
31/3/23
£
£
81,465
139,935
81,465
139,935
Resources
Movement
expended
in funds
£
£
(250,269)
81,465
(250,269)
81,465|2023
2022
£
£
9,690
12,500
2,202
-
970
970
12,862
13,470
2023
2022
£
£
9,690
12,500
Net
movement
At
in funds
31/3/23
£
£
81,465
139,935
81,465
139,935
Resources
Movement
expended
in funds
£
£
(250,269)
81,465
(250,269)
81,465|2022
£
12,500
-
970|
|---|---|---|---|---|
|||||13,470|
|||||2022
£
12,500|
||||81,465||
Page 9
**SHEMA BENI**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1/4/21
£
**Unrestricted funds**
General fund
64,647
**TOTAL FUNDS**
64,647
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
209,293
**TOTAL FUNDS**
209,293|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
31/3/22
£
£
(6,177)
58,470
(6,177)
58,470
Resources
Movement
expended
in funds
£
£
(215,470)
(6,177)
(215,470)
(6,177)|At
31/3/22
£
58,470|
|---|---|---|---|
||||58,470|
|||(6,177)||
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Net
movement
At
At 1/4/21
in funds
31/3/23
£
£
£
64,647
75,288
139,935
64,647
75,288
139,935|
|---|---|
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
£
541,027
541,027|Resources
Movement
expended
in funds
£
£
(465,739)
75,288
(465,739)
75,288|Resources
Movement
expended
in funds
£
£
(465,739)
75,288
(465,739)
75,288|
|---|---|---|---|
||||75,288|
Page 10
**SHEMA BENI**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023**
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st March 2023.
Page 11