OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-11-30-accounts

REGISTERED CHARITY NUMBER: 1181900

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020

FOR

CHASDEI DOV TRUST

Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

CHASDEI DOV TRUST

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 November 2020

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 9 to 13
Detailed Statement of Financial Activities 14

CHASDEI DOV TRUST

REPORT OF THE TRUSTEES for the year ended 30 November 2020

The trustees present their report with the financial statements of the charity for the year ended 30 November 2020. 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 objects of the charity include:

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and 'The Advancement of Religion for the Public Benefit' in particular, when reviewing the aim and objectives and in planning the charity's future activities.The aims of the charitable company for the public benefit are detailed in the 'Objectives and Activities' section of this report and the main activities undertaken in order to carry out the charitable company's aims for the public benefit are outlined under 'Achievements and Performance' below.

Grantmaking

Grants are made at the discretion of the trustees and in accordance with the objectives of the charity. The trustees assess each of the applications made to them and consider their response based on the individual circumstances, the funds available, and the impact the grant will have in making a difference to the lives of thebeneficiaries.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The onset of the Covid 19 pandemic towards the end of the first quarter of 2020 had a significant social and economic impact on communities worldwide and resulted in an increased demand for assistance. The trustees responded by focusing their activities on providing financial support to individuals in need by way of grants.

The trustees are satisfied with the results and activities of the charity for the year and will seek to broaden their reach over the coming years to encompass the other objects of the charity.

FINANCIAL REVIEW

Financial position

The financial results of the charity's activities for the period ended 30 November 2020 are fully reflected in the attached financial statements together with the notes thereon.

Total income increased to £781,342 compared to £655,265 in the prior year and total expenditure increased to £837,780 from £586,304 in the previous year.

There was a net decrease in funds of £56,438 with total funds carried forward being £12,523.

Reserves policy

The charity's free reserves as at 30 November 2020 were £12,523. It is the policy of the charity to maintain unrestricted funds, which include the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely costs of the charity for the next year. The trustees have not undertaken any formal charitable commitments and consider that the charity can rely on its ongoing support from its donors to to fund its ongoing communal activities.

Page 1

CHASDEI DOV TRUST

REPORT OF THE TRUSTEES for the year ended 30 November 2020

FINANCIAL REVIEW

Going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. They have made this assessment in respect of a period of one year from the date of approval of these financial statements.

The trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Trust to continue as a going concern. They are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

FUTURE PLANS

There are no current plans to change the activities or modus operandi in the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures..

Organisational structure

The board of trustees administers the charity and meets regularly.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have assessed the risks facing the charity are implementing systems and checks, which are reviewed annually.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1181900

Principal address

12 Wargrave Avenue London N15 6UD

Trustees

Mr I Taub Trustee Mr Y Arberman Trustee Mr J Fligman Trustee

Independent Examiner

Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

Page 2

CHASDEI DOV TRUST

REPORT OF THE TRUSTEES for the year ended 30 November 2020

Approved by order of the board of trustees on 12 December 2022 and signed on its behalf by:

Mr J Fligman - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHASDEI DOV TRUST

Independent examiner's report to the trustees of Chasdei Dov Trust

I report to the charity trustees on my examination of the accounts of Chasdei Dov Trust (the Trust) for the year ended 30 November 2020.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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.

Mr Suda Ratnam FCCA Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

12 December 2022

Page 4

CHASDEI DOV TRUST

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 30 November 2020

2020
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
781,342
EXPENDITURE ON
Charitable activities
3
Expenditure on charitable activities
837,780
NET INCOME/(EXPENDITURE)
(56,438)
RECONCILIATION OF FUNDS
Total funds brought forward
68,961
TOTAL FUNDS CARRIED FORWARD
12,523		 2019
Total
funds
£
655,265
586,304
68,961
-
68,961

The notes form part of these financial statements

Page 5

CHASDEI DOV TRUST

BALANCE SHEET

30 November 2020

2020
Unrestricted
fund
Notes
£
CURRENT ASSETS
Debtors
7
30,150
Cash at bank
64,163
94,313
CREDITORS
Amounts falling due within one year
8
(36,790)
NET CURRENT ASSETS
57,523
TOTAL ASSETS LESS CURRENT
LIABILITIES
57,523
CREDITORS
Amounts falling due after more than one year
9
(45,000)
NET ASSETS
12,523
FUNDS
11
Unrestricted funds
12,523
TOTAL FUNDS
12,523		 2019
Total
funds
£
-
88,811
88,811
(19,850)
68,961
68,961
-
68,961
68,961
68,961

The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2022 and were signed on its behalf by:

Mr J Fligman - Trustee

The notes form part of these financial statements

Page 6

CHASDEI DOV TRUST

CASH FLOW STATEMENT

for the year ended 30 November 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from financing activities
New loans in year
Net cash provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2020
£
(74,648)
(74,648)
50,000
50,000
(24,648)
88,811
64,163		 2019
£
88,811
88,811
-
-
88,811
-
88,811

The notes form part of these financial statements

Page 7

CHASDEI DOV TRUST

NOTES TO THE CASH FLOW STATEMENT for the year ended 30 November 2020

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Increase in debtors
Increase in creditors
Net cash (used in)/provided by operations
ANALYSIS OF CHANGES IN NET FUNDS
At
Net cash
Cash at bank
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total		 2020
2019
£
£
(56,438)
68,961
(30,150)
-
11,940
19,850
(74,648)
88,811
1.12.19
Cash flow
At 30.11.20
£
£
£
88,811
(24,648)
64,163
88,811
(24,648)
64,163
-
(5,000)
(5,000)
-
(45,000)
(45,000)
-
(50,000)
(50,000)
88,811
(74,648)
14,163

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

Page 8

CHASDEI DOV TRUST

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 November 2020

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.

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 payable are included in the period when any relevant conditions are met by the receiving entity. Payment of later instalments of a grant usually requires satisfactory progress reports from the project.

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.

Charitable activities

The cost of charitable activities comprises those incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and costs linked to the strategic management of the charity.

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.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverable.

Creditors and provisions

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlement can be estimated reliably.

continued...

Page 9

CHASDEI DOV TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 November 2020

1. ACCOUNTING POLICIES - continued

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Independent Examiner's fees
Independent Examiner's and accountancy fees
2.
DONATIONS AND LEGACIES
Donations
3.
CHARITABLE ACTIVITIES COSTS
Expenditure on charitable activities
4.
GRANTS PAYABLE
Expenditure on charitable activities
The total grants paid to institutions during the year was as follows:
Grants to institutions
2020
£
1,440		 2019
£
350
Grant
funding of
activities
(see note
4)
£
835,518		 2020
£
781,342
Support
costs (see
note 5)
£
2,262
2020
£
835,518
2020
£
8,036		 2019
£
655,265
Totals
£
837,780
2019
£
585,954
2019
£
-

All grants were paid from unrestricted funds to individuals, and charitable institutions whose objects are in line with the objects of the charity.

continued...

Page 10

CHASDEI DOV TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 November 2020

5. SUPPORT COSTS

SUPPORT COSTS
Governance
Finance costs Totals
£ £ £
Expenditure on charitable activities 472 1,790 2,262

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 November 2020 nor for the year ended 30 November 2019.

Trustees' expenses

During the year one of the trustees was reimbursed amounts aggregating £17,500 for grants to individuals made on behalf of the charity.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020
£
Other debtors
30,150
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020
£
Bank loans and overdrafts (see note 10)
5,000
Other creditors
31,790
36,790
9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020
£
Bank loans (see note 10)
45,000
10.
LOANS
An analysis of the maturity of loans is given below:
2020
£
Amounts falling due within one year on demand:
Bank loans
5,000
Amounts falling between one and two years:
Bank loans - 1-2 years
10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years
35,000		 2019
£
-
2019
£
-
19,850
19,850
2019
£
-
2019
£
-
-
-

continued...

Page 11

CHASDEI DOV TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 November 2020

11. MOVEMENT IN FUNDS

At
1.12.19
£
Unrestricted funds
General fund
68,961
TOTAL FUNDS
68,961
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
781,342
TOTAL FUNDS
781,342
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
655,265
TOTAL FUNDS
655,265		 Net
movement
At
in funds
30.11.20
£
£
(56,438)
12,523
(56,438)
12,523
Resources
Movement
expended
in funds
£
£
(837,780)
(56,438)
(837,780)
(56,438)
Net
movement
At
in funds
30.11.19
£
£
68,961
68,961
68,961
68,961
Resources
Movement
expended
in funds
£
£
(586,304)
68,961
(586,304)
68,961

continued...

Page 12

CHASDEI DOV TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 November 2020

12. RELATED PARTY DISCLOSURES

During the year the charity received donations aggregating £153,050 from companies of which Mr I Taub, a trustee of this charity is a director.

Grants aggregating £5,285 were made to a close family member of one of the trustees. The decision to make the grants was taken in accordance with the charity's conflict of interest policy.

Page 13

CHASDEI DOV TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 November 2020
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Total incoming resources
EXPENDITURE
Charitable activities
Grants to institutions
Grants to individuals
Support costs
Finance
Bank charges
Governance costs
Accountancy fees
Total resources expended
Net (expenditure)/income		 2020
£
781,342
781,342
8,036
827,482
835,518
472
1,790
837,780
(56,438)		 2019
£
655,265
655,265
-
585,954
585,954
-
350
586,304
68,961

This page does not form part of the statutory financial statements

Page 14