REGISTERED COMPANY NUMBER: 09968154 (England and Wales) REGISTERED CHARITY NUMBER: 1169517
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021
FOR
DIVREI YATZIV LIMITED
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
DIVREI YATZIV LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
DIVREI YATZIV LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 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 advancement of the orthodox Jewish religion.
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 continued its activities and maintained its support of religious educational and other charitable institutions in England and abroad. The charity is dependent on income from voluntary donations. The charity's total incoming resources during the year were £88,142 (2020: £99,656) and donations made totalled £9,189 (2020: £6,850).
Investment performance
During the year under review the charity received rental income that amounted to £34,741 (2020: £52,657).
FINANCIAL REVIEW
Financial position
The charity is reliant on donations in order to assist in the advancement of the orthodox Jewish faith. The trustees are satisfied with the results of the charity for the year under review.
Principal funding sources
The majority of income received by the charity during the year was received from donations from various institutions and from private individuals. The charity was also the beneficiary of rental income.
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the working capital of the charity.
Going concern
The trustees are confident that the charity will continue to operate for foreseeable future.
FUTURE PLANS
The charity intends to carry on its policy of making grants in pursuant of its objects, and continue its activities, as outlined above, for the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and is therefore governed by Memorandum and Articles of Association.
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.
Induction and training of new trustees
The charity trustees periodically review and consider possible training requirements to best suit the charity's objectives.
Page 1
DIVREI YATZIV LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
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 Company number
09968154 (England and Wales)
Registered Charity number
1169517
Registered office
4 Thorpe Road London N15 6NR
Trustees
N Klein Manager M D Motzen Research Student J Rothbart Business Manager
Independent Examiner
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 28 January 2022 and signed on its behalf by:
N Klein - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DIVREI YATZIV LIMITED
Independent examiner's report to the trustees of Divrei Yatziv Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 ACA Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
28 January 2022
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DIVREI YATZIV LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021
| 31.1.21 | 31.1.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 53,401 | 46,999 | |
| Investment income | 2 | 34,741 | 52,657 |
| Total | 88,142 | 99,656 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 46,104 | 71,879 |
| Charitable activities | |||
| General | 9,189 | 20,131 | |
| Other | 2,925 | 600 | |
| Total | 58,218 | 92,610 | |
| NET INCOME | 29,924 | 7,046 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 48,955 | 41,909 | |
| TOTAL FUNDS CARRIED FORWARD | 78,879 | 48,955 |
The notes form part of these financial statements
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DIVREI YATZIV LIMITED
STATEMENT OF FINANCIAL POSITION 31 JANUARY 2021
| 31.1.21 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 87,496 CURRENT ASSETS Debtors 7 65,809 Cash at bank 86,732 152,541 CREDITORS Amounts falling due within one year 8 (111,158) NET CURRENT ASSETS 41,383 TOTAL ASSETS LESS CURRENT LIABILITIES 128,879 CREDITORS Amounts falling due after more than one year 9 (50,000) NET ASSETS 78,879 FUNDS 11 Unrestricted funds 78,879 TOTAL FUNDS 78,879 |
31.1.20 Total funds £ 23,000 27,302 573 27,875 (1,920) 25,955 48,955 - 48,955 48,955 48,955 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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continued...
DIVREI YATZIV LIMITED
STATEMENT OF FINANCIAL POSITION - continued 31 JANUARY 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2022 and were signed on its behalf by:
M D Motzen - Trustee
J Rothbart - Trustee
The notes form part of these financial statements
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DIVREI YATZIV LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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.
Short leasehold - not provided
Taxation
The charity is exempt from corporation 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. INVESTMENT INCOME
| 31.1.21 | 31.1.20 | |
|---|---|---|
| £ | £ | |
| Rents received | 34,741 | 52,657 |
continued...
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DIVREI YATZIV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 31.1.21 | 31.1.20 | |
| £ | £ | |
| Rent paid | 39,912 | 49,298 |
| Professional fees | - | 20,751 |
| Cleaning | 6,192 | 1,830 |
| 46,104 | 71,879 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2021 nor for the year ended 31 January 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2021 nor for the year ended 31 January 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 46,999 |
| Investment income | 52,657 |
| Total | 99,656 |
| EXPENDITURE ON | |
| Raising funds | 71,879 |
| Charitable activities | |
| General | 20,131 |
| Other | 600 |
| Total | 92,610 |
| NET INCOME | 7,046 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 41,909 |
| TOTAL FUNDS CARRIED FORWARD | 48,955 |
continued...
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DIVREI YATZIV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021
6. TANGIBLE FIXED ASSETS
| COST At 1 February 2020 Additions At 31 January 2021 NET BOOK VALUE At 31 January 2021 At 31 January 2020 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.21 £ Other debtors 65,809 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.21 £ Other creditors 109,238 Accrued expenses 1,920 111,158 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.1.21 £ Bank loans (see note 10) 50,000 10. LOANS An analysis of the maturity of loans is given below: 31.1.21 £ Amounts falling due between two and five years: Bank loans - 2-5 years 50,000 |
Short leasehold £ 23,000 64,496 87,496 87,496 23,000 31.1.20 £ 27,302 31.1.20 £ - 1,920 1,920 31.1.20 £ - 31.1.20 £ - |
|---|---|
continued...
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DIVREI YATZIV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021
11. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||
|---|---|---|
| Net | ||
| movement | At | |
| At 1.2.20 | in funds | 31.1.21 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 48,955 |
29,924 | 78,879 |
| TOTAL FUNDS 48,955 |
29,924 | 78,879 |
| Net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 88,142 |
(58,218) | 29,924 |
| TOTAL FUNDS 88,142 |
(58,218) | 29,924 |
| Comparatives for movement in funds | ||
| Net | ||
| movement | At | |
| At 1.2.19 | in funds | 31.1.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 41,909 |
7,046 | 48,955 |
| TOTAL FUNDS 41,909 |
7,046 | 48,955 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 99,656 |
(92,610) | 7,046 |
| TOTAL FUNDS 99,656 |
(92,610) | 7,046 |
continued...
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DIVREI YATZIV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.2.19 | in funds | 31.1.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 41,909 | 36,970 | 78,879 |
| TOTAL FUNDS | 41,909 | 36,970 | 78,879 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 187,798 | (150,828) | 36,970 |
| TOTAL FUNDS | 187,798 | (150,828) | 36,970 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2021.
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