Charity Registration No. 1173165
LINAS HACHESED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
LINAS HACHESED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr I Honig |
|---|---|
| Mr J Stern | |
| Mr Y Kohn | |
| Charity number | 1173165 |
| Principal address | 13 Grosvenor Way |
| London | |
| E5 9ND | |
| Independent examiner | Mr J Silver FCCA |
| 32 Castlewood Road | |
| London | |
| N16 6DW |
LINAS HACHESED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 8 |
LINAS HACHESED
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply 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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The object of the charity is the relief of poverty or financial hardship of people living in Israel by making grants of money for providing or payment for food, clothing, accommodation and other items services or facilities for such needy people .
The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
Achievements and performance
During the year the Charity continued its philanthropic activities in support of provisions of basic necessities for the poor and relief of sickness and disabilities.
The charity received £ 46,315 in donations during the year and £ 46,091 was paid out by way of grants . All grants were made in line with the stated objects of the charity .
Financial review
During the year the charity's incoming resources exceeded the outgoing resources by a small sum as detailed in the attached Financial Statements. The trustees are satisfied with the results for the year, but intend to further their fund-raising efforts t o recover the shortfall in funds in the short term.
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
There are no current plans to change the activities or modus operandi of the charity in the foreseeable future .
Structure, governance and management
The charity is controlled by its governing document, a deed of trust, and constitutes a Charitable Incorporated Organisation.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr I Honig
Mr J Stern Mr Y Kohn
The day to day affairs of the Charity are administered by the Board of Trustees. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures. None of the Trustees have any beneficial interest in the Charity.
The trustees' r eport was approved by the Board of Trustees.
..............................
Mr J Stern
Trustee Dated: .........................
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LINAS HACHESED
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LINAS HACHESED
I report to the trustees on my examination of the financial statements of Linas Hachesed (the charity) for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
J Silver FCCA Precision Ltd 32 Castlewood Road London N16 6DW
Dated: .........................
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LINAS HACHESED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| Notes | £ |
£ | |
| Income from: | |||
| Donations and legacies | 3 | 46,315 | 66,269 |
| Expenditure on: | |||
| Charitable activities | 4 | 46,091 | 66,265 |
| Net income for the year/ | |||
| Net movement in funds | 224 | 4 | |
| Fund balances at 1 April 2020 | (603) | (607) |
|
| Fund balances at 31 March 2021 | (379) | (603) |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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LINAS HACHESED
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current liabilities Income funds Unrestricted funds The financial statements were approved by the Trustees on ... .............................. Mr J Stern Trustee |
2021 £ 231 (610) ...................... |
£ (379) (379) (379) |
2020 £ 7 (610) |
£ (603) (603) (603) |
|---|---|---|---|---|
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LINAS HACHESED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Charity information
Linas Hachesed is a Charitable Incorporated Organisation.
1.1 Accounting convention
The financial statements 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
The financial statements have been prepared on a going concern basis as the trustees are of the opinion that the charity will continue for the foreseeable future based upon the continued financial support from the community.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
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.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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LINAS HACHESED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.5 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.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There have been no material adjustments based on estimations and assumptions during the financial year.
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LINAS HACHESED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
3 Donations and legacies
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Donations and gifts | 46,315 | 66,269 | ||
| 4 | Charitable activities | |||
| Charitable | Charitable |
|||
| Expenditure | Expenditure |
|||
| 2021 | 2020 |
|||
| £ | £ |
|||
| Grant funding of activities (see note 5) | 45,431 | 65,845 |
||
| Share of governance costs (see note 6) | 660 | 420 |
||
| 46,091 | 66,265 |
|||
| 5 | Grants payable | |||
| Charitable | Charitable |
|||
| Expenditure | Expenditure |
|||
| 2021 | 2020 |
|||
| £ | £ |
|||
| Grants to institutions: | ||||
| Linas Hachesed – Jerusalem Open House | 45,431 | 33,180 |
||
| - |
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LINAS HACHESED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
6 Support costs
| Support costs Governance costs £ £ Accountancy - 480 Legal and professional - 180 - 660 Analysed between Charitable activities - 660 |
2021 Support costs Governance costs £ £ £ 480 - 420 180 - - 660 - 420 660 - 420 |
2020 £ 420 - 420 420 |
|---|---|---|
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | ||
|---|---|---|---|
| Number | Number | ||
| Total | - | - | |
| 9 | Creditors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Other creditors | 610 | 610 |
10 Related party transactions
There were no disclosable related party transactions during the year (2020 - none).
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