B.H.
CHABAD-LUBAVITCH LEICESTER TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
Principal address
16 Stanley Road Leicester LE2 1RE
Registered Charity Number: 1182175
CHABAD LUBAVITCH LEICESTER ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 29 FEBRUARY 2024
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 | 11-17 |
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 | |
| Churchill House | |
| London | |
| NW4 4DJ | |
| Principal Address: | 16 Stanley Road |
| Leicester | |
| LE2 1RE |
2
CHABAD LUBAVITCH LEICESTER TRUSTEES’ REPORT
The trustees present their annual report and financial statements of Chabad Lubavitch Leicester (“the Charity”) for the year ended 29 February 2024.
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: -
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Advance the education of the general public in the subject of cultural and historic Jewish Heritage through services, talks, events and grants.
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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 been offering a range of social, cultural and educational activities.
The charity has adapted to face the cost-of-living challenges of the past year. A few of the changes, we have offered people in our community include:
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Family scholarships to learning courses.
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Student hot meals drop-in times.
4
CHABAD LUBAVITCH LEICESTER TRUSTEES’ REPORT
We have continued providing a listening ear, offering counsel and practical help as people have moved home or community, helping those who have moved to find new cultural connections.
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Expanded variety of commercially ready cooked meals from Kosher Pantry (the only local source for a variety of Kosher food) have been very much a lifeline for many from around Leicester and its environs.
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1,150 hours of teaching /classes to all age ranges over the course of the year.
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213 hours have been spent on the phone supporting people, signposting people to relevant medical services, providing counselling and crisis management.
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120 Pre-Jewish Holiday packages are sent to children encouraging wholesome education.
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Solar panels installed to reduce the monthly electricity bill and free up funding for education and projects.
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60 elderly supported and had chance to learn via video calls.
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The Jewish Students in Leicester have been engaged over a very difficult year. Our address has been a safe environment where the students turn to for a listening ear, advise and support. Over 140 hours of support were provided to the students along with 315 hot meals.
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150 hours after school learning opportunities and cultural connections via online learning to youth around Leicestershire.
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Pictures are attached below show a small snapshot of what was accomplished.
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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.
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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.
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
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CHABAD LUBAVITCH LEICESTER TRUSTEES’ REPORT
Financial review
Chabad Lubavitch Leicester continues to be funded from charitable donations and grants.
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 29 February 2024, income was £71,628 (2023: £88,132), expenditure was £62,929 (2023: £71,526), and the resulting surplus was £8,669 (2023: £11,606) 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 29 February unrestricted reserves were £23,554 (2023: £32,038) which exceed the target of £15,732. 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
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the applicable Charity SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 TRUSTEES’ REPORT
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 21 November 2024 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 2024
I report to the charity trustees on my examination of the accounts of the CIO for the year ended 29 February 2024.
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:
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accounting records were not kept as required by section 130 of the Act; or
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the accounts do not accord with those records.
Shaya Grosskopf
Shaya Grosskopf FCA 1g Accountants Chartered Accountants Churchill House 137-139 Brent Street London NW4 4DJ
21 November 2024
8
CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 29 FEBRUARY 2024
| 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 2024 42,469 6,409 48,878 24,286 1,679 31,395 57,360 (8,482) 32,038 23,554 |
Restricted Funds 2024 22,750 - 22,750 4,592 - 977 5,569 17,181 14,489 31,670 |
Total Funds 2024 65,219 6,409 71,628 28,878 1,679 32,372 62,929 8,699 46,527 55,224 |
Total Funds 2023 77,499 5,633 |
||
|---|---|---|---|---|---|---|
| 83,132 38,071 1,889 31,566 |
||||||
| 71,526 | ||||||
| 11,606 | ||||||
| 34,921 | ||||||
| 46,527 |
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 STATEMENT OF FINANCIAL POSITION
FOR THE YEAR ENDED 29 FEBRUARY 2024
| 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 2024 33,849 33,849 3,000 15,580 5,607 24,187 2,812 21,375 55,224 55,224 12,416 31,670 55,224 |
Total Funds 2023 16,745 |
||
|---|---|---|---|---|
| 16,745 2,980 19,863 10,666 |
||||
| 33,509 3,727 |
||||
| 29,782 46,527 |
||||
| 46,527 | ||||
| 32,038 14,489 |
||||
| 46,527 |
The notes at pages 7 to 11 form part of these accounts.
Approved by the trustees on 21 November 2024 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 FOR THE YEAR ENDED 28 FEBRUARY 2024
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 29 FEBRUARY 2024
(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 29 FEBRUARY 2024
2. Income
| Unrestricted Funds 2024 Restricted Funds 2024 Donations, legacies, and grants Donations including sponsorship of events and services 42,469 - Grants received - 22,750 Total donations, legacies, and grants 42,469 22,750 Trading charitable activity Income from Kosher Pantry 6,409 - Total income 48,878 22,750 The following grants exceeding £5,000 were received during the year: Simon Wolfson £10,000 342 Trust: £10,000 |
Total Funds 2024 46,469 22,750 65,219 6,409 71,628 - |
Total Funds 2023 66,409 11,450 |
||
|---|---|---|---|---|
| 77,499 | ||||
| 5,633 | ||||
| 83,132 | ||||
13
CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
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 Travel Total support costs Total expenses |
Unrestricted Funds 2024 5,255 11,231 5,052 2,748 - 24,286 1,398 - 281 1,679 22,980 1,564 1,091 928 2,033 583 466 1,750 31,395 57,360 |
Restricted Funds 2024 2,000 - - 2,592 - 4,592 - - - - 977 - - - - - - - 977 5,569 |
Total Funds 2024 7,255 11,231 5,052 5,340 - |
Total Funds 2023 9,217 22,831 1,500 4,273 250 |
|||
|---|---|---|---|---|---|---|---|
| 28,878 1,398 - 281 |
38,071 1,380 120 389 |
||||||
| 1,679 23,957 1,564 1,091 928 2,033 583 466 1,750 |
1,889 22,000 1,446 1,396 662 4,516 539 1,007 - |
||||||
| 32,372 | 31,566 | ||||||
| 62,929 | 71,526 |
Support costs are wholly attributed to the costs of charitable activities.
The charity employed 1 (2023: 1) employee. No employee earned more than £60,000.
The charity made grants of £500 (2023: £1,500) to individuals, and three grants to charitable institutions to support educational and religious causes as follows: -
| Yeshivas Lubavitch Manchester: | £1,000 |
|---|---|
| Tzivos Hashem (US charity): | £3,152 |
| Halev Limited | £400 |
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CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
4. Tangible Fixed Assets
| Plant & Machinery Cost Cost as at 1 March 2023 15,996 Additions in the year 22,445 Cost as at 28 February 2024 38,441 Depreciation Accumulated depreciation as at 28 1 March 2023 3,404 Charge for the year 2,722 Accumulated depreciation as at 29 February 2024 6,126 Net book value 2024 32,315 2023 12,592 5. Debtors Pledges receivable Other debtors 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 3,821 277 2,463 155 6,284 432 1,346 188 3,809 344 2024 10,000 5,580 15,580 2024 - 1,398 1,414 2,812 |
Fixtures & Fittings Computer Equipment 7,630 621 - - 7,630 621 3,821 277 2,463 155 6,284 432 1,346 188 3,809 344 2024 10,000 5,580 15,580 2024 - 1,398 1,414 2,812 |
Fixtures & Fittings Computer Equipment 7,630 621 - - 7,630 621 3,821 277 2,463 155 6,284 432 1,346 188 3,809 344 2024 10,000 5,580 15,580 2024 - 1,398 1,414 2,812 |
Total 24,247 22,445 |
|
|---|---|---|---|---|---|
| 46,692 | |||||
| 7,503 5,340 |
|||||
| 12,843 | |||||
| 33,849 | |||||
| 16,745 | |||||
| 2023 10,000 9,863 19,863 2023 328 1,380 2,019 3,727 |
|||||
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CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
7. Funds
| As at 1 March 2023 Income Kosher pantry 14,489 Solar power project - 22,750 - Total 14,489 22,750 As at 1 March 2022 Income Kosher pantry 26,439 - Edith Murphy Foundation and Heritage Lottery Foundation Community Project 11,450 Total 14,489 11,450 Restricted funds are represented as follows Solar Power project Tangible fixed assets Cash at bank and in hand Kosher pantry Tangible fixed assets Cash at bank and in hand |
Expenditure (4,447) (1,122) (5,569) Expenditure (11,950) (11,450) (23,400) 2024 21,323 305 10,042 - 31,670 |
As at 29 February 2024 10,042 21,628 |
As at 29 February 2024 10,042 21,628 |
|
|---|---|---|---|---|
| 31,670 | ||||
| As at 28 February 2023 14,489 - |
||||
| 14,489 | ||||
| 2023 - 11,512 2,977 |
||||
| 14,489 |
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CHABAD LUBAVITCH LEICESTER
ANNUAL FINANCIAL STATEMENTS AND TRUSTEES REPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
- Transactions with trustees and related party transactions
There were no donations received from the trustees in the current year. In the prior year, Mrs Brocha Lent donated £30 to the charity.
The charity incurred expenses of £- (2023: £25) in relation to publications purchased from Chabad on the South Bank, a charity of which Rabbi Daniel Duboy is a trustee.
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 £19,903 (2023: £24,427), which was periodically reimbursed to him. At the financial year end the amount owed to the Chief Executive Officer was £- (2023: £328).
17
Issuer 1g Accountants Document generated Thu, 21st Nov 2024 9:23:56 GMT Document fingerprint f43e31a004b9167a81cffd0cad6e7d8d
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