COMPANY REGISTRATION NUMBER: 10867115 CHARITY REGISTRATION NUMBER: 1175534
Avreichim Gateshead Company Limited by Guarantee Unaudited Financial Statements
31 July 2021
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Avreichim Gateshead
Company Limited by Guarantee
Financial Statements
Year ended 31 July 2021
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 13 |
Avreichim Gateshead
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 July 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2021.
Reference and administrative details
Registered charity name Avreichim Gateshead Charity registration number 1175534 Company registration number 10867115 Principal office and registered 373 Alexandra Road office Gateshead Tyne And Wear NE8 4HY
The trustees
B Bowden M C Merel A Simmonds Independent examiner D Schwarz FCCA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
Avreichim Gateshead is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 14 July 2017 as a company and the company number is 10867115. It was registered as a charity on 2 November 2017 with a charity number 1175534.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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Avreichim Gateshead
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 July 2021
Objectives and activities
The objectives of the charity are;
a. To advance the Jewish religion for the benefit of the public through the holding of prayer meetings, lectures, public celebration of religious festivals and other activities. b. The promotion of any other exclusively charitable objects and purposes such as the trustees see fit, provided that they are regarded as charitable by the law of England and Wales.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions, organisations and individuals who accord with the objects of the charity.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
During the year, the charity received £66,406 in donations.
During the year, the charity spent £27,738 in furtherance of its principal objective of provision of facilities for prayer and social and educational gatherings.
Financial review
As at 31 July 2020 the charity held unrestricted free reserves of £123
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the charity's policy to maintain cash reserves of approximately three months of their average annual expenditure, to enable the charity to continue with its activities.
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Avreichim Gateshead
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 July 2021
The trustees' annual report and the strategic report were approved on 10 September 2021 and signed on behalf of the board of trustees by:
A Simmonds Trustee
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Avreichim Gateshead
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Avreichim Gateshead
Year ended 31 July 2021
I report to the trustees on my examination of the financial statements of Avreichim Gateshead ('the charity') for the year ended 31 July 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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.
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 charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements 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
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the financial statements 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.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
10 September 2021
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Avreichim Gateshead
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 July 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 66,406 | 66,406 | 56,639 |
| Investment income | 6 | 3 | 3 | 7 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 66,409 | 66,409 | 56,646 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | – | – | 957 |
| Expenditure on charitable activities | 8,9 | 28,516 | 28,516 | 22,104 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 28,516 | 28,516 | 23,061 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net income and net movement in funds | 37,893 | 37,893 | 33,585 | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 113,478 | 113,478 | 79,893 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 151,371 | 151,371 | 113,478 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 13 form part of these financial statements.
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Avreichim Gateshead
Company Limited by Guarantee
Statement of Financial Position
31 July 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 16 | 256,944 | 192,239 |
| Current assets | |||
| Cash at bank and in hand | 5,903 | 42,507 | |
| Creditors: amounts falling due within one year | 17 | 5,780 | 71,600 |
| ----------------------- | ---------------------------- | ||
| Net current assets | 123 | (29,093) | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 257,067 | 163,146 | |
| Creditors: amounts falling due after more than one year | 18 | 105,696 | 49,668 |
| -------------------------------- | -------------------------------- | ||
| Net assets | 151,371 | 113,478 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 151,371 | 113,478 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 19 | 151,371 | 113,478 |
| ================================ | ================================ |
For the year ending 31 July 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 10 September 2021, and are signed on behalf of the board by:
A Simmonds Trustee
The notes on pages 7 to 13 form part of these financial statements.
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Avreichim Gateshead
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 373 Alexandra Road, Gateshead, Tyne And Wear, NE8 4HY.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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Avreichim Gateshead
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2021
3. Accounting policies (continued)
Incoming resources (continued)
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
- 20% reducing balance
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Avreichim Gateshead
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2021
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 66,406 | 66,406 | 56,639 | 56,639 |
| ============================ | ============================ | ============================ | ============================ |
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Avreichim Gateshead
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2021
6. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 3 | 3 | 7 | 7 |
| ============== | ============== | ============== | ============== | |
| Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Costs of raising donations and | ||||
| legacies - Donations | – | – | 957 | 957 |
| ============== | ============== | ============== | ============== | |
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Charitable activities | 27,738 | 27,738 | 21,305 | 21,305 |
| Support costs | 778 | 778 | 799 | 799 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 28,516 | 28,516 | 22,104 | 22,104 | |
| ============================ | ============================ | ============================ | ============================ |
7. Costs of raising donations and legacies
8. Expenditure on charitable activities by fund type
9. Expenditure on charitable activities by activity type
Activities
| undertaken | Grant funding |
Support | Total funds | Total fund | |
|---|---|---|---|---|---|
| directly | of activities |
costs | 2021 | 2020 | |
| £ | £ | £ | £ | £ | |
| Charitable activities | 18,273 | 9,465 |
– | 27,738 | 21,305 |
| Governance costs | – | – |
778 | 778 | 799 |
| ---------------------------- | ----------------------- | -------------- | ---------------------------- | ---------------------------- | |
| 18,273 | 9,465 |
778 | 28,516 | 22,104 | |
| ============================ | ======================= | ============== | ============================ | ============================ |
10. Analysis of support costs
Governance costs
| Analysis of | ||
|---|---|---|
| support costs | ||
| activity 1 | Total 2021 | Total 2020 |
| £ | £ | £ |
| 780 | 780 | 800 |
| ============== | ============== | ============== |
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Avreichim Gateshead
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2021
11. Analysis of grants
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Grants to individuals | |||
| Religious Grants | 9,465 | 9,400 | |
| ----------------------- | ----------------------- | ||
| Total grants | 9,465 | 9,400 | |
| ======================= | ======================= | ||
| 12. | Net income | ||
| Net income is stated after charging/(crediting): | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 109 | 56 | |
| ============== | ============== | ||
| 13. | Independent examination fees | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 780 | 800 | |
| ============== | ============== | ||
| 14. | Staff costs | ||
| The total staff costs and employee benefits for the reporting period are analysed as | follows: | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Nil | Nil |
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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Avreichim Gateshead
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2021
16. Tangible fixed assets
| Freehold | Torah | ||||
|---|---|---|---|---|---|
| property | Library Equipment | Scrolls | Total | ||
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 August 2020 | 169,014 | – | 336 | 23,000 | 192,350 |
| Additions | 50,127 | 3,834 | 321 | 10,532 | 64,814 |
| -------------------------------- | ----------------------- | -------------- | ---------------------------- | -------------------------------- | |
| At 31 July 2021 | 219,141 | 3,834 | 657 | 33,532 | 257,164 |
| ================================ | ======================= | ============== | ============================ | ================================ | |
| Depreciation | |||||
| At 1 August 2020 | – | – | 111 | – | 111 |
| Charge for the year | – | – | 109 | – | 109 |
| -------------------------------- | ----------------------- | -------------- | ---------------------------- | -------------------------------- | |
| At 31 July 2021 | – | – | 220 | – | 220 |
| ================================ | ======================= | ============== | ============================ | ================================ | |
| Carrying amount | |||||
| At 31 July 2021 | 219,141 | 3,834 | 437 | 33,532 | 256,944 |
| ================================ | ======================= | ============== | ============================ | ================================ | |
| At 31 July 2020 | 169,014 | – | 225 | 23,000 | 192,239 |
| ================================ | ======================= | ============== | ============================ | ================================ | |
| Creditors: amounts falling due | within one year | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Accruals and deferred income | 780 | 600 | |||
| Other creditors | 5,000 | 71,000 | |||
| ----------------------- | ---------------------------- | ||||
| 5,780 | 71,600 | ||||
| ======================= | ============================ | ||||
| Creditors: amounts falling due | after more than | one year | |||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 25,135 | 25,135 | |||
| Other creditors | 80,561 | 24,533 | |||
| -------------------------------- | ---------------------------- | ||||
| 105,696 | 49,668 | ||||
| ================================ | ============================ |
17. Creditors: amounts falling due within one year
18. Creditors: amounts falling due after more than one year
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Avreichim Gateshead
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2021
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| 1 | August 202 | At | |||
| 0 | Income | Expenditure | 31 July 2021 | ||
| £ | £ | £ | £ | ||
| General funds | 113,478 | 66,409 | (28,516) | 151,371 |
|
| ================================ | ============================ | ============================ | ================================ | ||
| At | |||||
| 1 | August 201 | At | |||
| 9 | Income | Expenditure | 31 July 2020 | ||
| £ | £ | £ | £ | ||
| General funds | 79,893 | 56,646 | (23,061) | 113,478 |
|
| ============================ | ============================ | ============================ | ================================ | ||
| 20. | Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2021 | ||||
| £ | £ | ||||
| Tangible fixed assets | 256,944 | 256,944 | |||
| Current assets | 5,903 | 5,903 | |||
| Creditors less than 1 year | (5,780) | (5,780) |
|||
| Creditors greater than 1 year | (105,696) | (105,696) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 151,371 | 151,371 | |||
| ================================ | ================================ | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2020 | ||||
| £ | £ | ||||
| Tangible fixed assets | 192,239 | 192,239 | |||
| Current assets | 42,507 | 42,507 | |||
| Creditors less than 1 year | (71,600) | (71,600) |
|||
| Creditors greater than 1 year | (49,668) | (49,668) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 113,478 | 113,478 | |||
| ================================ | ================================ |
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