B.H.
CHABAD-LUBAVITCH LEICESTER TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
Charity's principal address
16 Stanley Road Leicester LE2 1RE
Registered Charity Number: 1182175
CHABAD LUBAVITCH LEICESTER ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 28 FEBRUARY 2023
TABLE OF CONTENTS
| Table of contents | 1 |
|---|---|
| CIO Information | 2 |
| Trustees’ Annual Report | 3-7 |
| Report of the Independent Examiner | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the financial statements | 11-16 |
1
CHABAD LUBAVITCH LEICESTER CIO INFORMATION
| Registered Charity Number: | 1182175 |
|---|---|
| Legal form: | Charitable Incorporated Organisation |
| Trustees: | Rabbi Daniel Duboy |
| Mrs Brocha Lent | |
| Mr Philip Pink (chair) | |
| Mrs Rifka Wineberg | |
| Chief Executive Officer: | Rabbi Shmuel Pink |
| Independent Examiner: | 1g Accountants |
| Chartered Accountants | |
| 71 Cheyne Walk | |
| London | |
| NW4 2JU | |
| Principal Address: | 16 Stanley Road |
| Leicester | |
| LE2 1RE |
2
CHABAD LUBAVITCH LEICESTER CIO INFORMATION
The trustees present their annual report and financial statements of the Charity.
Constitution and objectives
Chabad Lubavitch Leicester is a Charitable Incorporated Organisation, formed pursuant to the Charitable Incorporated Organisations (General) Regulations 20222, and registered with the Charity Commission on 21st February 2019 under registration number 1182175. It is governed by its constitution, last updated 23 March 2022.
Under that constitution, the Charity’s objectives are to: -
-
Advance the education of the general public in the subject of cultural and historic Jewish Heritage through services, talks, events and grants.
-
Advance the practice of Jewish Religion
The Constitution authorises the Trustees to make or hold investments in the general funds of the charity.
Trustees
The following trustees served throughout the financial year and to date of the signing of these financial statements:
Mr Philip Pink (chair) Rabbi Daniel Duboy Mrs Brocha Esther Lent Mrs Rifka Weinberg
Appointment of Trustees is governed by the Constitution of the charity. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising from resignation or death of an existing Trustee.
Achievements and performance and public benefit:
The charity has adapted to face the economic challenges of the past year. To highlight a few changes, we have offered our beneficiaries: As people in our community assessed their life choices post pandemic, we have been there as a listening ear, offering counsel and practical help as people have moved home or community and helping those who have moved to find new cultural connections.
4
CHABAD LUBAVITCH LEICESTER CIO INFORMATION
-
Commercially ready cooked meals have been very much a lifeline for many from around Leicester and it environs. A project of the Kosher pantry, the only local source for a variety of Kosher food.
-
65 elderly have continued to be in contact video calls. This has enabled education to expand in a convenient and effective way more frequently.
-
79 hours have been spent on the phone providing counselling, supporting people, crisis management and signposting people to relevant medical services.
-
Video calls have expanded to youth around Leicestershire, offering 135 after school learning opportunities and cultural connections.
-
105 Pre-Jewish Holiday packages are sent to children with tremendous engagement following on.
-
The support and programming for the small but active Jewish Students in Leicester been very successful and had a big impact on the welfare of all those who are engaged. Our address has been a safe environment where the students turn to and a place they can get a warm meal. Over 250 hot meals where provided to the students with 75 hours of support,
-
Pictures are attached below show a small snapshot of what was accomplished.
-
The feedback we have received has been positive and many people have expressed their support due to the benefit they are receiving from our work.
Our education services are free and service the full range of ages including primary school children, university students, young professionals, the retired and the elderly.
We are grateful for the many hours volunteers, have spent working with us over the past year. Without their contribution of time, energy and expertise we would not have been able to accomplish what we have.
We are grateful for the many hours volunteers, have spent working with us over the Pandemic. Without their contribution of time, energy and expertise we would not have been able to accomplish what we did over the past year
Future Plans
The trustee's plans for the future will continue to maintain and build upon the education, programming and provision of Cultural, Religious and Historic Jewish Heritage Leicestershire in surrounding areas.
4
CHABAD LUBAVITCH LEICESTER CIO INFORMATION
CHABAD LUBAVITCH LEICESTER CIO INFORMATION 41
CHABAD LUBAVITCH LEICESTER CIO INFORMATION ROSH HASHANA ,, ROSH HASHANA Honday 20 Sept 4:00 PM 16 Stanley Road LE2 IRE
CHABAD LUBAVITCH LEICESTER CIO INFORMATION
CHABAD LUBAVITCH LEICESTER CIO INFORMATION
Financial review
The policy of the Charity continues to be to seek additional finance and support to enable it to continue and expand its objectives and activities.
The Charity’s main sources of income are from donations and grants received from charitable trusts. In the year ending 28 February 2023, income was £88,132 (2022: £41,491), expenditure was £71,526 (2022: £34,626), and the resulting surplus was £11,606 (2022: £6,865) which the trustees consider satisfactory
The Trustees are grateful to all the benefactors whose generous contributions remain an important element in the ability of the charity to continue its work. We are confident that our supporters will provide us with contributions at a level to support the objects of the charity.
Reserves policy
The charity's reserves policy is to maintain three month’s expenditure as reserves to enable the charity to continue its activities and services at a meaningful level, should there be a drop in income. On 28 February unrestricted reserves were £32,038 which exceed the target of £17,882. The trustees review this position on a regular basis.
Statement Of Trustees Responsibilities
The trustees acknowledge their responsibility for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources for that period. In preparing the financial statements, the trustees are required to
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the applicable Charity SORP;
-
Make judgements and estimates that are reasonable and prudent;
-
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
7
CHABAD LUBAVITCH LEICESTER CIO INFORMATION
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, applicable Regulations, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on 25 December 2023 and signed on their behalf by
Mr Philip Pink Chair of Trustees
7
CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF CHABAD LUBAVITCH LEICESTER CHARITABLE INCORPORATED ORGANISATION (‘the CIO’).
FOR THE YEAR ENDED 28 FEBRUARY 2023
I report to the charity trustees on my examination of the accounts of the CIO for the year ended 28 February 2023.
Responsibilities and basis of report
As the charity trustees of the CIO 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 CIO’s accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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:
-
accounting records were not kept as required by section 130 of the Act; or
-
the accounts do not accord with those records.
Shaya Grosskopf
Shaya Grosskopf FCA 1g Accountants Chartered Accountants 71 Cheyne Walk London NW4 3QU
25 December 2023
8
CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 28 FEBRUARY 2023
| Note Income Donations, legacies and grants 2 Income from charitable trading activities: Operation of Kosher Pantry 2 Total income 2 Expenditure Expenditure on charitable activities 3 Governance costs 3 Other support costs 3 Total expenditure 3 Net income/(expenditure) and net movement in funds for the year Reconciliation of funds Total funds brought forward 7 Total funds carried forwards |
Unrestricted Funds 66,049 5,633 |
Restricted Funds Total Funds 2023 Total Funds 2022 11,450 77,499 32,658 - 5,633 8.833 |
|
|---|---|---|---|
| 71,682 31,371 1,889 14,866 |
11,450 83,132 41,491 6,700 38,071 23,762 - 1,889 1,358 16,700 31,566 9,506 |
||
| 48,126 | 23,400 71,526 34,626 |
||
| 23,556 | (11,950) 11,606 6,865 |
||
| 8,482 | 26,439 34,921 28,056 |
||
| 32,038 | 14,489 46,527 34,921 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
9
CHABAD LUBAVITCH LEICESTER ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
| Note Fixed assets Tangible fixed assets 4 Total Fixed Assets Current Assets Stock Debtors 5 Cash at bank Total Current Assets Liabilities Creditors falling due within one year 6 Net current assets Total assets less current liabilities Net assets Charity funds Unrestricted funds Restricted funds 7 Total funds carried forwards |
Total Funds 2023 16,745 |
Total Funds 2022 21,018 |
|
|---|---|---|---|
| 16,745 2,980 19,863 10,666 |
21,018 5,230 - 10,581 |
||
| 33,509 3,727 |
15,811 1,908 |
||
| 29,782 46,527 |
13,903 34,921 |
||
| 46,527 | 34,921 | ||
| 32,038 14,489 |
8,482 26,439 |
||
| 46,527 | 34,921 |
The notes at pages 7 to 11 form part of these accounts.
Approved by the trustees on 25 December 2023 and signed on their behalf by:
Mr Philip Pink Chair of Trustees Registered Charity Number: 1182175
10
CHABAD LUBAVITCH LEICESTER ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
1. Accounting Policies
(a) Basis of preparation and assessment of going concern
The legal form and address of the CIO are presented in the CIO information on page 2.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value. Financial amounts are presented to the nearest £ which is the functional and presentation currency of the CIO. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The CIO constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the CIO’s ability to continue as a going concern.
(b) Income
Income is recognised when the CIO has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Income from the operation of a Kosher pantry is recognised when goods are sold and handed over to customers.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the CIO is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the CIO that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution.
11
CHABAD LUBAVITCH LEICESTER ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
(c) Expenses
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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (1e) below.
(d) Taxes
As a charitable enterprise the CIO is exempt from income taxes.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred
(e) Allocation of costs
Costs of charitable activities comprise the direct cost of lectures, events and other activities and the direct costs of the Kosher pantry.
Governance costs comprise all costs involving the public accountability of the CIO and its compliance with regulation and good practice.
Other support costs include other administrative expenses associated with the operation of the CIO.
(f) Tangible fixed assets and depreciation
Assets are recognised at cost including the full costs of preparation and installation, and are depreciated over their useful lifetime as follows: -
Plant and Machinery: 10 years straight line Office Equipment: 3 years straight line
12
CHABAD LUBAVITCH LEICESTER ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
2. Income
| Donations, legacies, and grants Donations including sponsorship of events and services Grants received Total donations, legacies, and grants Trading charitable activity Income from Kosher Pantry Total income |
Unrestricted Funds 2023 66,049 - |
Unrestricted Funds 2023 66,049 - |
Restricted Funds 2023 - 11,450 |
Total Funds 2023 66,409 11,450 |
Total Funds 2022 27,958 4,700 |
|
|---|---|---|---|---|---|---|
| 66,049 | 11,450 | 77,499 | 32,658 | |||
| 5,633 | - | 5,633 | 8,833 | |||
| 71,682 | 11,450 | 83,132 | 41,491 |
The following grants exceeding £2,000 were received during the year: -
| Lottery Grant: | £8,950 |
|---|---|
| Edith Murphy Foundation: | £2,500 |
13
CHABAD LUBAVITCH LEICESTER ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
3. Expenditure
| Costs of charitable activities Kosher Pantry Costs of events Grants Depreciation Consulting Total costs of charitable events Governance costs Independent examination fees Other accountancy fees Subscriptions Other support costs Salaries Printing postage and stationery Software Repairs and maintenance Light, power and heating Insurance Other Total support costs Total expenses |
Unrestricted Funds 2023 3,987 22,831 1,500 2,803 250 |
Unrestricted Funds 2023 3,987 22,831 1,500 2,803 250 |
Restricted Funds 2023 5,230 - - 1,470 - |
Restricted Funds 2023 5,230 - - 1,470 - |
Total Funds 2023 9,217 22,831 1,500 4,273 250 |
Total Funds 2022 8,536 11,060 1,260 2,906 - |
|
|---|---|---|---|---|---|---|---|
| 31,371 1,380 120 389 |
6,700 - - - |
38,071 1,380 120 389 |
23,762 900 100 458 |
||||
| 1,889 5,550 1,446 1,396 662 4,266 539 1,007 |
- 16,450 - - - 250 - - |
1,889 22,000 1,446 1,396 662 4,516 539 1,007 |
1,358 - 631 1,009 4,897 2,639 330 - |
||||
| 14,866 | 16,700 | 31,566 | 9,506 | ||||
| 48,126 | 23,400 | 71,526 | 34,626 |
The charity employed 1 (2022: 0) employees. No employee earned more than £60,000.
The charity made a grant of £1,500 to an individual to support educational and
14
CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
4. Tangible Fixed Assets
| Plant & Machinery Cost Cost as at 28 February 2022 Additions in the year 15,996 Cost as at 28 February 2023 15,996 Depreciation Accumulated depreciation as at 28 February 2022 Charge for the year 1,804 1,600 Accumulated depreciation as at 28 February 2023 3,404 Net book value 2023 12,592 2022 14,192 5. Debtors Pledges receivable Gift aid receivable 6. Creditors due in less than one year Amounts due to the Chief Executive Accruals Trade creditors |
Fixtures & Fittings Computer Equipment 7,630 621 7,630 621 1,303 2,518 122 155 3,821 277 3,809 344 6,327 499 2023 10,000 9,863 19,863 2023 328 978 2,019 3,325 |
Fixtures & Fittings Computer Equipment 7,630 621 7,630 621 1,303 2,518 122 155 3,821 277 3,809 344 6,327 499 2023 10,000 9,863 19,863 2023 328 978 2,019 3,325 |
Total 24,247 |
|
|---|---|---|---|---|
| 24,247 | ||||
| 3,229 2,906 |
||||
| 6,135 | ||||
| 16,744 21,018 2023 - - - 2023 22 900 986 1,908 |
15
CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
7. Funds
| Kosher pantry Edith Murphy Foundation and Heritage Lottery Foundation Community Project Total |
As at 1 March 2022 26,439 - 26,439 |
Income - 11,450 11,450 |
Expenditure (11,950) (11,450) (23,400) |
As at 28 February 2023 14,489 - |
|---|---|---|---|---|
| 14,489 |
Restricted funds in support of the CIO’s Kosher Pantry project and are represented as follows
| Tangible fixed assets Inventory Cash at bank and in hand |
2023 11,512 - 2,977 14,489 |
2023 14,192 5,230 7,017 |
|---|---|---|
| 26,439 |
8. Transactions with trustees and related party transactions
Mrs Brocha Lent donated £30 (2022: nil) to the charity. There were no other transactions with the trustees during the current or prior year. No trustee drew remuneration, expenses or obtained any benefits from the charity.
During the year the Chief Executive Officer incurred expenses on behalf of the CIO of £24,427 (2022: £22,139), which was periodically reimbursed to him. Note 5 discloses amounts due to the Chief Executive in respect of such expenses at the financial year end.
16