Charity number 1168329
## GJ LIBRARY CIO
## Charitable Incorporated Organisation (CIO)
Report and Accounts
31 December 2022
**Whiteside and Davies Ltd** 158 Cromwell Road Salford M6 6DE
## **GJ LIBRARY CIO**
## **Report of the Trustees for the period ended 31 December 2022**
## **Status and Administration**
The charity is consituted by a constitution and is a Charitable Incorporated Organisation (CIO). The charity was registered as a CIO on 20/07/2016.
## **Reference and administrative details**
References and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the accounts.
## **The trustees**
The trustees who served the charity during the period were as follows: J Schleider G Schauder B Schleider J Bernstein
There is no executive officer nor any other staff employed in the charity. The day to day affairs are undertaken by Mr Jeremy Bernstein on behalf of the trustees.
All major decisions are taken collectively by the trustees and all the trustees give their time freely.
## **Objectives and activities for the public benefit**
To advance education of the public in Gateshead and its environments by the running and management of a community library, in particular but not limited to Jewish literature and material.
To promote for the benefit of the inhabitants of Gateshead and its environments provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare with the object of improving the condition of life of the said inhabitants.
## **Public benefit**
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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## **GJ LIBRARY CIO Report of the Trustees for the period ended 31 December 2022**
## **Status and Administration**
## **Achievements and Performance**
The charity had incoming resources during the year of £24,031 (2021: 26,470) and paid out £46,473 (2021: 31,533) by way of direct charitable expenditure. The charity has low support and governance costs comprising bank charges, sundry administrative and office costs.
There were no material fundraising costs during the year. There was an overall net deficit of resources during the year amounting to £22,642 (2021: 5,063).
## **Financial review**
The trustees report a deficit for the period. The charity suffered a drop in income due to Covid-19 as contributions were reduced and the library closed for a period of time.
## **Reserves policy**
The Unrestricted Fund represents the unrestricted funds arising from past operating results. It is the policy of the charity to maintain its unrestricted funds at a level to cover six months overheads and to have sufficient funds to generally distribute funds in accordance with the wishes of the donors.
The Trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
## **Plans for future periods**
The trustees plan to continue raising funds for projects in line with the trust deed and persue those objectives and projects with all the resources available to the charity.
## **Accountants**
A resolution to reappoint Whiteside and Davies Ltd as accountants will be put to the members at the Annual General Meeting.
## **Approval**
This report was approved by the board of trustees on 30th October 2022 and signed on its behalf by
J Schleider Trustee
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## **GJ LIBRARY CIO**
## **Statement of Financial Activities for the year ended 31 December 2022**
|**Notes**
**Incoming resources**
5
**Resources Expended**
Direct charitable expenditure
6&7
Total expenditure
**Net income / (deficit) for the year**
2
**Total funds:**
**Brought forward**
2
**Carried forward**
2|**2022**
**£**
24,031
46,673
46,673
(22,642)
45,651
23,009|**2021**
**£**
26,470
31,533
31,533
(5,063)
50,714
45,651|
|---|---|---|
There were no recognised gains and losses other than as stated in the SOFA.
The attached notes form an integral part of these financial statements
3
## **GJ LIBRARY CIO Balance Sheet as at 31 December 2022**
|**Notes**
**Fixed assets**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
1
**Net current assets**
**Net assets**
**Funds**
Unrestricted funds
2
**Net assets**|**2022**
**£**
26,001
(2,992)
23,009
23,009
23,009
23,009|**2021**
**£**
47,852
(2,201)
45,651
45,651
45,651
45,651|
|---|---|---|
J Schleider Director Approved by the board on 1 November 2023
The attached notes form an integral part of these financial statements
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## **GJ LIBRARY CIO**
## **Notes to the Accounts**
## **for the year ended 31 December 2022**
## **Principal Accounting Policies**
## **Accounting convention**
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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). The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
All income is accounted for on the accruals basis and represents donations received and investment income.
## **Charitable expenditure relates to direct charitable activities.**
Governance costs are general costs which have been incurred in order that the charity can operate effectively and to generate the information required for public accountability.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
## **Financal instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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## **GJ LIBRARY CIO Notes to the Accounts for the year ended 31 December 2022**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
|**1**
**Creditors: amounts falling due within one year**
Other creditors
**2**
**Funds**
Unrestricted funds:
At 1 January 2022
Deficit for the year
At 31 December 2022|**2022**
**£**
2,992
**2022**
**£**
45,651
(22,642)
23,009|**2021**
**£**
2,201
**2021**
**£**
50,714
(5,063)
45,651|
|---|---|---|
The charity has no restricted or endowment funds.
6
## **GJ LIBRARY CIO**
## **Notes to the Accounts**
## **for the year ended 31 December 2022**
|**5**
**Incoming Resources**
Other income
Donations received
Membeship fees
**6**
**Cost of generating funds - direct charitable expenditure**
Books and subscriptions
Gifts
Projects
Cleaning
Light and heat
Utilities and rates
Wages and salaries
Support costs (Note 8)
**7**
**Governance costs**
Independent examiner fee
**8**
**Support Costs**
Accountancy fees
Directory costs
Repairs and maintenance
Rent and service charges
Postage
Stationery, printing and computer expenses
Security
Software and computer equipment
Insurance
Bank charges
Other legal and professional|**2022**
**£**
21,513
2,518
-
24,031
**2022**
**£**
15,503
-
-
2,058
3,681
509
5,042
19,880
46,673
**2022**
**£**
-
-
**Total**
**2022**
**£**
1,261
2,728
5,518
996
200
2,591
1,035
2,592
592
371
603|**2021**
**£**
22,375
4,095
26,470
**2021**
**£**
9,784
63
618
782
17,297
28,544
**2021**
**£**
500
500
**Total**
**2021**
**£**
-
3,511
5,861
273
165
2,442
-
-
626
328
3,341|
|---|---|---|
7
## **GJ LIBRARY CIO Notes to the Accounts for the year ended 31 December 2022**
|Advertising and PR
Travel and subsistence
Telephone and fax
Interest payable|-
557
836
-
19,880|105
125
520
-
17,297|
|---|---|---|
## **9 Trustees' Remuneration and expenses**
No remuneration, directly or indirectly out of the funds of the charity, was paid or payable, to any trustee or to any persons known to be connected with any of them.
No reimbursement of expenses has been made, or is due to be made, to any of the trustees in respect of the period.
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