REGISTERED COMPANY NUMBER: 10753661 (England and Wales) REGISTERED CHARITY NUMBER: 1175074
CHINUCH 20
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MAY 2022
CHINUCH 20
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 May 2022
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 4 |
| Report of the Independent Examiner | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8 to 10 |
CHINUCH 20
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 May 2022
| TRUSTEES | A Katz |
|---|---|
| E Meyer | |
| J Neuberger | |
| REGISTERED OFFICE | First Floor |
| 94 Stamford Hill | |
| London N16 6XS | |
| REGISTERED COMPANY NUMBER | 10753661 (England and Wales) |
| REGISTERED CHARITY NUMBER | 1175074 |
| BANKERS | Metro Bank plc |
| Unit 1 The Mall | |
| Edgware | |
| London HA8 7BD |
Page 1
CHINUCH 20 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 May 2022
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 May 2022. 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 2015).
OBJECTIVES AND ACTIVITIES
Objects for public benefit
The objects of the charity are:
- the advancement of the Orthodox Jewish Faith, in particular but not exclusively by supporting educational establishments that promote the Orthodox Jewish Faith.
The trustees have considered the Charity Commission's general guidance on public benefit.
Grantmaking policy
The trustees make grants to educational establishments promoting the Orthodox Jewish Faith on an annual basis. Grants are distributed in line with the demographic of the donor base of the charity and also take into account the relative needs of the establishments.
ACHIEVEMENT AND PERFORMANCE
Activities
During the year the charity has continued its philanthropic activities and has maintained its support of organisations engaging in education. The trustees have aimed to accumulate funds in order to distribute them to schools after the year end. Funds raised this year - £140,964 – are the largest amount raised by the Chinuch 20 program to date.
Partnership with the GGBH
The Chomesh L’Chinuch program works together with the Golders Green Beth Hamedrash (GGBH) in raising and distributing funds, though funds raised by the GGBH are accounted for in the GGBH financial accounts. A true measure of success of the Chomesh L’Chinuch program can be seen looking at the sums raised and distributed by both Chinuch 20 and the GGBH. These are presented in the table below:
| Chinuch 20 | GGBH | Combined | |
|---|---|---|---|
| Funds raised | 140,964 | 80,700 | 221,664 |
The trustees are proud that in the few years since the program was set up, over £1million has been distributed to schools.
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FINANCIAL REVIEW
Financial position
The charity is reliant on income from donations. The trustees are pleased to report that income has accumulated during the year and was distributed at the distribution event in November 2022.
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.
FUTURE PLANS
The charity plans to continue its activities subject to satisfactory income. The Charity aims to increase income and distributions to £1,000,000 per annum over future years.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 4[th] May 2017, as amended on 10[th] October 2017.
Organisational structure
The day-to-day affairs of the company are administered by the trustees. The power to appoint new trustees is vested in the continuing board. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees.
Risk review
The trustees have confirmed that there are no major risks to which the charity is exposed.
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The trustees (who are also the directors of Chinuch 20 for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees and signed on its behalf by:
E Meyer J Neuberger Trustee Trustee
Page 4
CHINUCH 20 REPORT OF THE INDEPENDENT EXAMINER
Independent examiner’s report to the trustees of Chinuch 20
I report to the trustees on my examination of the accounts of Chinuch 20 (the Trust) for the year ended 31 May 2022.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Charities Act or
-
the accounts do not accord with the accounting records
I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr E Berkovits FCA 7 Beverly Gardens, London NW11 9DG
Page 5
CHINUCH 20 (REGISTERED NUMBER: 10753661)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2022
| Notes | 2022 | 2021 | |
|---|---|---|---|
| Unrestricted Fund | Total Funds | ||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 140,964 | 223,339 |
| Investment income | 3 | 4 | 4 |
| _ | _ | ||
| Total | 140,968 | 223,343 | |
| EXPENDITURE ON | |||
| Raising funds | 4 | 2,642 | 6,617 |
| Charitable activities | |||
| Charitable activities | 5 | 2,566 | 241,380 |
| _ | _ | ||
| Total | 5,208 | 247,997 | |
| _ | _ | ||
| NET INCOME/(EXPENDITURE) | 135,760 | (24,654) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 336 | 24,990 | |
| _ | _ | ||
| TOTAL FUNDS CARRIED FORWARD | 136,096 | 336 | |
| _ | _ | ||
| _ | _ |
The notes form part of these financial statements
Page 6
CHINUCH 20 (REGISTERED NUMBER: 10753661) STATEMENT OF FINANCIAL POSITION AT 31 May 2022
| Notes | 2022 | 2021 | |
|---|---|---|---|
| Unrestricted Fund | Total Fund | ||
| CURRENT ASSETS | |||
| Debtors | 45,000 | - | |
| Cash at bank | 91,096 | 336 | |
| _ | _ | ||
| 136,096 | 336 | ||
| _ | _ | ||
| NET CURRENT ASSETS | 136,096 | 336 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | |||
| _ | _ | ||
| NET ASSETS | 136,096 | 336 | |
| _ | _ | ||
| FUNDS | |||
| Unrestricted funds; | |||
| General fund | 136,096 | 336 | |
| _ | _ | ||
| TOTAL FUNDS | 136,096 | 336 | |
| _ | _ |
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 on 24 February 2023 and were signed on its behalf by:
E Meyer J Neuberger Trustee Trustee
Page 7
CHINUCH 20 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
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 2015)', 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. The charity is exempt from producing a cash flow statement due to it being classified as a small charity.
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.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
Page 8
CHINUCH 20 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
2. DONATIONS AND LEGACIES
| 2022 | 2021 | |||
|---|---|---|---|---|
| Unrestricted Fund | Total Funds | |||
| Donations | 140,964 | 129,870 | ||
| Shpieltime Donations | _ | 93,469 | ||
| Total | 140,964 | 223,339 | ||
| **3. ** | INVESTMENT INCOME | |||
| 2022 | 2021 | |||
| Unrestricted Fund | Total Funds | |||
| Deposit account income | 4 | 4 | ||
| **4. ** | RAISING FUNDS | |||
| 2022 | 2021 | |||
| Unrestricted Fund | Total Funds | |||
| Printing | 1,726 | 250 | ||
| Consultancy | 0 | 1,903 | ||
| Advertising | 916 | 4,464 | ||
| Total | 2,642 | 2,004 | ||
| **5. ** | CHARITABLE ACTIVITIES COSTS | |||
| Grant funding | Support costs | Total | ||
| of activities | (See note 7) | |||
| (See note 6) | ||||
| Charitable activities | 0 | 2,566 | 241,380 |
6. GRANTS PAYABLE
As distribution events are held at slightly more than annual intervals, there were no grants made in the 2021-22 financial year. Funds raised during the year were distributed post year end.
7. SUPPORT COSTS
| 2022 Unrestricted Fund Total Bank charges 509 Bookkeeping and secretarial 2,057 2,566 |
2021 Funds 534 1,518 |
|---|---|
2,053 |
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CHINUCH 20 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
8. DEBTORS
Amounts included in Debtors relate to Grants receivable to which the Charity is entitled and under the Charities SORP are recognised on receipt of written notification.
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021.
10. RELATED PARTY DISCLOSURES
The charity received donations of £41,711 (2021 - £90,479) from Achisomoch Aid Company Limited, a charitable company with a trustee in common.
The charity paid £445 (2021 - £0) to Chasm Schools Limited for bookkeeping services, a company with a director in common.
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