REGISTERED CHARITY NUMBER: 1167365
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
FOR
THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 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 | 9 |
| Detailed Statement of Financial Activities | 10 |
THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2023
The trustees present their report with the financial statements of the charity for the year ended 31 May 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 advancement of the Orthodox Jewish religion,Orthodox Jewish education and education in general. The relief of poverty, sickness and infirmity for the public benefit.
Public benefit
The Trustees have taken due heed of their obligations relating to Public Benefit Duty affecting charities, as well as to their obligations under the Equalities Act 2010. The Trustees are satisfied that they meet their obligations.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity received donations totalling £108,800 (2022 - £17,170) and made donations totalling £24,600 (2022 - £12,690).
FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the working capital of the charity.
FUTURE PLANS
The future goals of the charity are to continue carrying out its objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The S.B. & C is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission and governed by its constitution dated 26th May 2016.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
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
1167365
Principal address
17 St. Andrew's Grove London N16 5NF
Page 1
THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2023
Trustees
J Stern J Stern M Stern E Stern M M Stern Mrs R H Stern Mrs S Lowin
Independent Examiner
M A VENITT Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 14 July 2023 and signed on its behalf by:
J Stern - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION
(C.I.O)
Independent examiner's report to the trustees of The S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
I report to the charity trustees on my examination of the accounts of The S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O) (the Trust) for the year ended 31 May 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
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.
M A VENITT
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
14 July 2023
Page 3
THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2023
| 31.5.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 108,800 EXPENDITURE ON Charitable activities Charitable 24,600 Other 480 Total 25,080 NET INCOME 83,720 RECONCILIATION OF FUNDS Total funds brought forward 35,258 TOTAL FUNDS CARRIED FORWARD 118,978 |
31.5.22 Total funds £ 17,170 |
|---|---|
| 12,690 480 |
|
| 13,170 | |
| 4,000 31,258 |
|
| 35,258 |
The notes form part of these financial statements
Page 4
THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
STATEMENT OF FINANCIAL POSITION 31 MAY 2023
| 31.5.23 Unrestricted fund Notes £ CURRENT ASSETS Debtors 4 15,000 Cash at bank 104,458 119,458 CREDITORS Amounts falling due within one year 5 (480) NET CURRENT ASSETS 118,978 TOTAL ASSETS LESS CURRENT LIABILITIES 118,978 NET ASSETS 118,978 FUNDS 6 Unrestricted funds 118,978 TOTAL FUNDS 118,978 |
31.5.22 Total funds £ 35,000 738 35,738 (480) 35,258 35,258 35,258 35,258 35,258 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 July 2023 and were signed on its behalf by:
J Stern - Trustee
The notes form part of these financial statements
Page 5
THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 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.
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. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2023 nor for the year ended 31 May 2022.
Page 6
continued...
THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2023
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 17,170 | |||
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Charitable | 12,690 | |||
| Other | 480 | |||
| Total | 13,170 | |||
| NET INCOME | 4,000 | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 31,258 | |||
| TOTAL FUNDS CARRIED FORWARD | 35,258 | |||
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.5.23 | 31.5.22 | |||
| £ | £ | |||
| Other debtors | 15,000 | 35,000 | ||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.5.23 | 31.5.22 | |||
| £ | £ | |||
| Other creditors | 480 | 480 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.6.22 | in funds | 31.5.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 35,258 | 83,720 | 118,978 | |
| TOTAL FUNDS | 35,258 | 83,720 | 118,978 |
continued...
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THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2023
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 108,800 108,800 |
Resources Movement expended in funds £ £ (25,080) 83,720 (25,080) 83,720 |
Resources Movement expended in funds £ £ (25,080) 83,720 (25,080) 83,720 |
|---|---|---|---|
| 83,720 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.6.21 | in funds | 31.5.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 31,258 | 4,000 | 35,258 |
| TOTAL FUNDS | 31,258 | 4,000 | 35,258 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 17,170 | (13,170) | 4,000 |
| TOTAL FUNDS | 17,170 | (13,170) | 4,000 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.6.21 | in funds | 31.5.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 31,258 | 87,720 | 118,978 |
| TOTAL FUNDS | 31,258 | 87,720 | 118,978 |
continued...
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THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2023
6. 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 £ 125,970 125,970 |
Resources Movement expended in funds £ £ (38,250) 87,720 (38,250) 87,720 |
|---|---|---|
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2023.
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THE S.B. & C. CHARITBLE INCORPORATED ORGANISATION (C.I.O)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2023
| 31.5.23 | 31.5.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 108,800 | 17,170 |
| Total incoming resources | 108,800 | 17,170 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 24,600 | 12,690 |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 480 | 480 |
| Total resources expended | 25,080 | 13,170 |
| Net income | 83,720 | 4,000 |
This page does not form part of the statutory financial statements
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