REGISTERED CHARITY NUMBER: 1179428
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
FOR
BHS KOLLEL
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
BHS KOLLEL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| Page | |
|---|---|
| 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 7 |
BHS KOLLEL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
The trustees present their report with the financial statements of the charity for the year ended 31 August 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 object of the CIO shall be the advancement of the Orthodox Jewish faith in such ways as the charity trustees think fit and in particular but without limitation by establishing, managing and supporting a learning centre for the public benefit known as BHS Kollel in North West London.
Significant activities
Donations received are used to pay charitable grants to the students in the academy so as to satisfy the charitable criteria established in the objects.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy.
Volunteers
There were no volunteers during the year.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Board of Trustees are satisfied with the performance of the charity during the period, consider that the charity is in a position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
Internal and external factors
There are no specific factors to report.
FINANCIAL REVIEW
Financial position
The charity has had a successful year, raising £172,168 (2020: £98,228) in donations, and making research grants totalling £89,850 (2020: £88,457) to individuals in accordance with the objectives of the charity.
Total unrestricted funds at the year end was £75,168 (2020: £1,079).
Principal funding sources
The principal funding sources are donations from individuals and limited companies.
Reserves policy
At the year end, there was £84,168 (2020:£10,079) in reserves, which the trustees consider adequate.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The number of trustees must not be less than three or more than five.
Apart from the first trustees, every trustees must be appointed by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
Risk management
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.
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BHS KOLLEL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1179428
Principal address
10 Gresham Gardens London NW11 8PB
Trustees
Mr J J Scharfer Mr A Ratzersdorfer Mr M S Itzinger
Independent Examiner
Mr Daniel Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 29 June 2022 and signed on its behalf by:
................................................................. Mr A Ratzersdorfer - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BHS KOLLEL Independent examiner's report to the trustees of BHS Kollel I report to the charity trustees on my eaMInatIon of the COUnts of BHS Kollel (the Trust) for the year ended 31 August 2021. Responsibilities and basis of report A5 the charity tru5tee5 01 the Trust you are responsible for the preparation of the &counts In accordance with the requirernents of the Charities Art 2011 I'the Act,). I report in respect of my examination of theTrusVs accounts carrSed out under section 145 of the Attand in carrySng out my examination I have followeij all applicable Dlrections given by the CharSty Commlssion under section 14515llbl of the Act. Independent examiner's statement I have COTnpleted my examinètion. I confirm that no material matters have corne to my attentlon In connection with the examinatK)n giving me cause to believe that in any material respect.. accounting records were not kept in respect ol the Trust as required by section 130 of the Act,. oi the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements Conrning the form and content of accounts set out in the Charities IAccount5 and Report51 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 connertion with the exèminatlon to which attention should be drawn in this report In order to enable a proper understandlng of the accounts to be reached. Mr Daniel Fine, FCA Melinek Fine LLP Chartered Accountants 'rst Floor, Winston House 349 Regent5 Park Road London N3 IDH Date.. 29 June 2022 Page 3
BHS KOLLEL
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 172,169 EXPENDITURE ON Raising funds 7,260 Charitable activities Charitable activities 970 Research grants 89,850 Total 98,080 NET INCOME 74,089 RECONCILIATION OF FUNDS Total funds brought forward 1,079 TOTAL FUNDS CARRIED FORWARD 75,168 |
2020 Total funds £ 98,228 - 600 88,457 89,057 9,171 (8,092) 1,079 |
|---|---|
The notes form part of these financial statements
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BHS KOLLEL
BALANCE SHEET
31 AUGUST 2021
| 2021 Unrestricted fund Notes £ CURRENT ASSETS Debtors 3 70,109 Cash at bank 15,559 85,668 CREDITORS Amounts falling due within one year 4 (10,500) NET CURRENT ASSETS 75,168 TOTAL ASSETS LESS CURRENT LIABILITIES 75,168 NET ASSETS 75,168 FUNDS Unrestricted funds 75,168 TOTAL FUNDS 75,168 |
2020 Total funds £ - 11,279 11,279 (10,200) 1,079 1,079 1,079 1,079 1,079 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 June 2022 and were signed on its behalf by:
............................................. Mr A Ratzersdorfer - Trustee
The notes form part of these financial statements
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BHS KOLLEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
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.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
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 August 2021 nor for the year ended 31 August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
continued...
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BHS KOLLEL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors |
2021 £ 70,109 2021 £ 600 9,900 10,500 |
2020 £ - 2020 £ 600 9,600 10,200 |
|---|---|---|
5. RELATED PARTY DISCLOSURES
Included in other creditors is an amount owed to one of the trustees.
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