REGISTERED CHARITY NUMBER: 1174613
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
FOR
THE CHAI CENTER TRADING AS THE JEWISH LIFE CENTRE
KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH
THE CHAI CENTER TRADING AS THE JEWISH LIFE CENTRE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
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Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 10
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THE CHAI CENTER TRADING AS THE JEWISH LIFE CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023
The trustees present their report with the financial statements of the charity for the year ended 31 July 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
The object of the CIO shall be the advancement of the orthodox Jewish faith in accordance with the principles and teachings of Chabad in particular for people living in Borehamwood and Elstree by providing them with educational programs and social activities that will build and develop a meaningful relationship to their Jewish Heritage.
The Chai Center is focused on creating opportunities for local Jewish people to engage in the various experiences Jewish life has to offer through various events and programmes. Based centrally in Borehamwood, there is a strong focus on also creating informal opportunities for people outside the Jewish community to engage and obtain an understanding and appreciation of Jewish life and culture.
ACHIEVEMENT AND PERFORMANCE
During the year 2022-23 the charity continued to run and expand all its programmes and activities to include youth activities, festival and Sabbath activities, adult education programmes, social services, Judaica services and publications. Chanukah, Purim, Passover and Shavuot activities have grown with programmes for children in the Jewish schools of Hertsmere. Following Covid we have continued to focus on supporting those who are most vulnerable and who struggle with loneliness.
FINANCIAL REVIEW
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the entity will continue to operate for the foreseeable future. The trustees have considered the entity's current financial position, cash flows and liquidity position, as well as its future plans and projections, and have concluded that it is appropriate to prepare the financial statements on a going concern basis.
FUTURE PLANS
The trustees plan to continue and increase the charity's activities and programs; especially in the areas of youth and children.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Chai Center is a Charitable Incorporated Organisation (CIO) constituted under a Constitution INCORPORATED 30th June 2017 and is registered charity number 1174613.
Recruitment and appointment of new trustees
The appointment of new trustees is at the discretion of the serving trustees. All decisions made on behalf of the charity are made by the trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1174613
Principal address
Unit 12E Keystone Passage Borehamwood Shopping Park Hertfordshire WD6 4PR
Trustees
Ms M Redbart A Brandman A Braun
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THE CHAI CENTER
TRADING AS THE JEWISH LIFE CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH
31/05/2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. A Braun - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHAI CENTER
Independent examiner's report to the trustees of The Chai Center
I report to the charity trustees on my examination of the accounts of The Chai Center (the Trust) for the year ended 31 July 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Anthony Cowan
KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH
24/05/2024 Date: .............................................
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THE CHAI CENTER TRADING AS THE JEWISH LIFE CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 224,555 Other income 65 Total 224,620 EXPENDITURE ON Raising funds 40,401 Other 175,913 Total 216,314 NET INCOME 8,306 RECONCILIATION OF FUNDS Total funds brought forward 50,144 TOTAL FUNDS CARRIED FORWARD 58,450 |
Restricted funds £ 19,550 - 19,550 19,550 - 19,550 - - - |
2023 Total funds £ 244,105 65 244,170 59,951 175,913 235,864 8,306 50,144 58,450 |
2022 Total funds £ 226,270 - |
|---|---|---|---|
| 226,270 | |||
| 82,803 133,317 |
|||
| 216,120 | |||
| 10,150 39,994 |
|||
| 50,144 |
The notes form part of these financial statements
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THE CHAI CENTER TRADING AS THE JEWISH LIFE CENTRE
BALANCE SHEET 31 JULY 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 4 77,146 CURRENT ASSETS Debtors 5 7,161 Cash at bank and in hand 5,742 12,903 CREDITORS Amounts falling due within one year 6 (15,165) NET CURRENT ASSETS (2,262) TOTAL ASSETS LESS CURRENT LIABILITIES 74,884 CREDITORS Amounts falling due after more than one year 7 (16,434) NET ASSETS 58,450 FUNDS 9 Unrestricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - - |
2023 Total funds £ 77,146 7,161 5,742 12,903 (15,165) (2,262) 74,884 (16,434) 58,450 58,450 58,450 |
2022 Total funds £ 81,760 5,220 373 5,593 (14,109) (8,516) 73,244 (23,100) 50,144 50,144 50,144 |
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The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 31/05/2024
............................................. A Braun - Trustee
The notes form part of these financial statements
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THE CHAI CENTER TRADING AS THE JEWISH LIFE CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 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.The only exception to this is where donations are received with the intent that it will pay for expenditure which will arise in a future period, in which case the income is deferred to be matched against that future expenditure.
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.
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 20% on reducing balance - Heritage asset not provided - Computer equipment 20% on reducing balance
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 July 2023 nor for the year ended 31 July 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.
continued...
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THE CHAI CENTER TRADING AS THE JEWISH LIFE CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
| 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 206,770 EXPENDITURE ON Raising funds 63,303 Other 133,317 Total 196,620 NET INCOME 10,150 RECONCILIATION OF FUNDS Total funds brought forward 39,994 TOTAL FUNDS CARRIED FORWARD 50,144 4. TANGIBLE FIXED ASSETS Fixtures and Heritage fittings asset £ £ COST At 1 August 2022 122,643 21,000 Additions 3,447 4,500 Disposals (979) - At 31 July 2023 125,111 25,500 DEPRECIATION At 1 August 2022 63,242 - Charge for year 11,909 - Eliminated on disposal (65) - At 31 July 2023 75,086 - NET BOOK VALUE At 31 July 2023 50,025 25,500 At 31 July 2022 59,401 21,000 |
Restricted Total funds funds £ £ 19,500 226,270 19,500 82,803 - 133,317 19,500 216,120 - 10,150 - 39,994 - 50,144 Computer equipment Totals £ £ 1,699 145,342 585 8,532 - (979) 2,284 152,895 340 63,582 323 12,232 - (65) 663 75,749 1,621 77,146 1,359 81,760 |
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THE CHAI CENTER
TRADING AS THE JEWISH LIFE CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors Prepayments and accrued income 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 8) Trade creditors Other creditors 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 8) 8. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years 9. MOVEMENT IN FUNDS At 1.8.22 £ Unrestricted funds General fund 50,144 TOTAL FUNDS 50,144 |
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continued...
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THE CHAI CENTER
TRADING AS THE JEWISH LIFE CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Hertfordshire Council Lotto Elstree and Borehamwood TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 224,620 4,100 9,950 5,500 19,550 244,170 At 1.8.21 £ 39,994 39,994 |
Resources expended £ (216,314) (4,100) (9,950) (5,500) (19,550) (235,864) Net movement in funds £ 10,150 10,150 |
Movement in funds £ 8,306 - - - - 8,306 At 31.7.22 £ 50,144 50,144 |
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Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Hertfordshire Council Lotto Elstree and Borehamwood Hertsmere Borough Council TOTAL FUNDS |
Incoming resources £ 206,770 2,000 9,850 5,500 2,150 19,500 226,270 |
Resources Movement expended in funds £ £ (196,620) 10,150 (2,000) - (9,850) - (5,500) - (2,150) - (19,500) - (216,120) 10,150 |
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THE CHAI CENTER TRADING AS THE JEWISH LIFE CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.21 | in funds | 31.7.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 39,994 | 18,456 | 58,450 |
| TOTAL FUNDS | 39,994 | 18,456 | 58,450 |
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 Restricted funds Hertfordshire Council Lotto Elstree and Borehamwood Hertsmere Borough Council TOTAL FUNDS |
Incoming resources £ 431,390 6,100 19,800 11,000 2,150 39,050 470,440 |
Resources Movement expended in funds £ £ (412,934) 18,456 (6,100) - (19,800) - (11,000) - (2,150) - (39,050) - (451,984) 18,456 |
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10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2023.
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