Neryisrael Gemach Charlty No. 1184874 Tru5tees' Report and Unaudlted Actounts 05 April 2024
Ner Ylsrael GÉma¢h Contents Pages 2to3 Tru5tees' AnnLFal Report Independent Examinerfs Report Statement of Flnancial Advftie5 Balance Sheet Notes to the Accounts 7toll Detailed Statement of Financial Aclivities 12 Page I
Ner fisrael Gemach Trustees Annual Report The trustees present their rekK)rt with the unaudited financial staternents of the tharity forthe year ended 5 April 2024. REFEREN AND ADMINisfRATIVE oAll5 Charlty 1184874 Principal Office Ner Yisrael Communrty Centre The Crest London NW4 2HY Trustees The following trustees served during the year: P. Blank A. Goldberg D. Lauber Accountants Lealindis Limited 71 London Road New3rk NG24 IRZ oBJEIVEs AND AcllvmES It5 objectives are to provide relief of finanaal hardship, either generally or indtvidually. in particular, but not exdusively. gf the Jewish community Irving in the vianity of the Ner Yisrael Synagogue and the surrounding areas, by making grants of moneyfor prlding or pawng for items. services or facilities. The tnjstees are pleased with the level of donations received during the charitvs third period of activity. The trustees confirm that they have given due consideration to the Charity Commission's guidance on the PLFblic benefit requirement. FINANaAL REVIEW The excess of expendTture over income forthe year amounted to a deficit of £9,78612023: deficit £20,617). This will be dedurted from the reserve5 whith now stand at £93,312O23- £102.5891. The trustees are of the opini¢M that as the tharity enpys continuing support from several donors that it is appropriats for the Going Concern basis to be used. PiANS FOR FLrfuRE PERIODS Whilst the chartty has no onwng commitments the trustees are looking to maintsin or increase the level of donor contributions in the coming year. thus enablingthe charity to continue to prov5de grants as needed. STRucfuRE, GOVERNANCE AND MANAGEME The charity is controlled by rts governing doojment and is C¢strtutèd as a charitable Ints)rporated Organisation. Page 2
Ner Yisrael Gemach Trustees Annual Report There murt be at least three chartty trusiees. ff the number falls below this minimum. the remainingtrustees or trustees may art onty to call a meeting of the charity tTUStees, or appoint a new tharity tru51ee. The maximum number of charity trustees is five. Every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. In selecting indiwduals for appointment as charlty trustees, the charity trustees must have regard to the skills. knowledge and experience needed for the effective administration of the charity. The above report has been prepared in accordance wrth the Charitses SORP IFRS1021. Statement of trustees. respoTrsibililies in relation to the fInala1 ststements The tharity trustees are responsible for preparing a trustees, annual report and financial ststements in accordan with applicable law and United ngdoM AccDunting Standards (Unf(ed Kingdom Generally Attepted Accounting practi). The trustees are responsible for keeping proper accLNJnting records that disdose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the finanual statements comply with the Chartties Act 2011. the appliiable Charities {Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the asset5 of the charity and hence taking reasonable steps for the prevention and detertion of fTaud and other irregularities. Signed on behalf of the charitrfs trustees PaR P. Blank Trustee 27 October 2024 Page 3
Ner yrael Gemath Independent Examinef5 Rep¢Yt Indewmlent Exarninerfs Report to the trustees of Ner fisrael Gemath I report to the trustees on my exarninion of the financial statements of Ner Yisrael Gemach for the year ended 5 April 2024. Responsibilities and basis of reixyt A5 the charity's tTU5tee5 you are re5pon5ible for the preparètion of the finanaal statements in accordance with the requirements of the charities Act 20111he Act'l. I report in re4rt of my examination of the tharity's finanaal statements carried out under section 145 of the 2011 Act and in carying (Krt my examination I have followed all the applicable Directions gwen by the Charwty Commi55ion under section 145lSllbl of the Act Independent examlnerfs ststement I have completed my examination. I can ¢(yffirm that no material rnatter5 have come to my attention in connection with the examination giving me cause to believe that in any rnaterial respect: . the accountlng records were not kept in respect of the tharity a5 required by section 130 of the Act: or the financial statements do not accord with those records," or • the financial statements do not comply viith the applicale requirements conMing the form and content of financial statements set out in the Chartties (Accounts and Reports) Regulations 2(K18 other than any requirement that the finanaal st3tements grve a Irue and fair. view which is not a matter considered as part of an independent examination. I have no cOnrnS 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 financial statements to be reached. Chris Wade ICAEW Lealindis Limited 71 London Road Newark NG24 IRZ 27 October 2024 Page 4
Ner YSsrael Gemach ststement of Finandal Aclivitses for the year ended 5 2024 Unrestrictsd lunds Total funds Totsl funds 2024 2024 2023 Notes Intome and end(N¥ments from: Donati¢MS and legaues Investments 113,253 1,597 113,253 1,597 104,%2 540 Totsl 114,850 114,850 105,502 Expenditure on: Charrtable activities oiher 123.218 418 123,218 418 125,682 437 Tolal 123,636 123.636 126,119 Net gains on investments Net expendlture Transfers between funds 18.7861 18,786) 120,6171 Net eKpendrtur¢ lth other gainsl{losses) 18.7861 18.786) 120,6171 Other gains and losses Net movement In funds (8.7861 18.786) 120,6171 Reconclliatlon of fvnds: Total funds brought fon•tard 102.589 102,589 123,206 Totsl funds carried forward 93,803 93,803 102,589 Page 5
Ner Yisrael Gemach Balance sheet at S Aprll 2024 charity No. 1184874 2024 2023 Current assets Cash at bank and in hand 94,253 94,253 {4501 102,814 102,814 12251 102,589 CreditoT& Amount falling due w¢thin one year Net current assets 93.803 Total assets less current liabiliies 93X)3 102,589 Net assets exduding perffjion asset or liability Totsl net assets 93,803 102,589 93,803 102,589 The funds of the charity Restricted funds Unrestricted funds General funds 93,803 102,589 93.803 102.589 Totsl fvnds 93,803 102,589 Approved by the trustees on 27 October 2024 And signed on their beh31f by= P. Blank Trustee 27 October 2024 Page 6
Ner frael Gemach Notes to the Accounts for the year ended 5 April 2024 l Atcountlng polkies Basis of prepardlion The financial statements have been prepared in accordance with Statement of Recommended Practi. Accounting and Reporting by Charities preparing their accounts in accordante with the Financlal Reporting standard applicable the UK and Republic rf Ireland IFRS 102) issued on 16July 2014 and the Financial Reporting Standard applicable in the United ngdoM and Republic of Ireland IFRS 1021 and the Charities Act 2011. Chn8* In 5•5 of accounling or to previous accounts There has been no change to the accounting poliaes (valuation rules and method of accountin81 since last year and no changes have been madeto accounts for previous years. Fund accounting Unrestri(led funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds e3rn1arked by the trustees for particu13r purposes. These are unrestiirted funds which indude a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor orthrough terms of an appeal. Designated funds RevalLbation funds Restricted funds Income Recognition of income Income is induded in the Statement of Finanaal Aclivitie515oFAI when the charity becomes entwtled to. and virtually rtain to r1ve, the income and the amount of the income can be measured wrth suffiaent reliability. Income wrth related where incorne ha5 related expenditure the income and related expendFture is expenditure reported gr in the SOF Donations and legaae5 Voluntsry income reiVed by way of grants. donations and gifts is induded in the the SOFA when receivable and On when the Charity has unconditional entitlement to the income. Tax redaims on Income from redaims is induded in the SOFA at the same time as the don8tions and grfts gift/donation to which it relates. Donated services These are onfy induded in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity 15 reasonably quantifiable, measurable and material. Volunteer help The value anyvolunteer help reived is not induded in the accounts. InvestmeFrt income This is induded in the acccwnts when receivable. Gains/llossesl on This indude5 any gain or loss resultingfrorn revaluing investments to market value revaluation of fued at the end of the year. assets Gains/llosses) on investment a55et5 ThFS indudes any gain or loss oft the sale of investments. Page 7
Ner Ylsrael Gernach Notes to the Acawnts Expenditure Recognition of expendrture Expenditure is recognised on an accruals basis. Expenditure indudes any VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates. Expenditure c These ccrfnprise the costs a$iated with attractingvoluntary income. fundraising raising funds trading costs and investmerrt management cos Expenditure on These comprise the costs Inaled by the Chartty in the delNery of its activities and charitable aciivities services in the furtherance of its objects, indudingthe making of grants and governance costs. All grant expendtture is aco)unted for on an actual paid basis plus an accrual for grants that have been apprimd by the trustees at the end of the year but not yet paid. These indude those Ct5 assoaated wilh meeting the constitutional and statutory requirements ot the Charity, induding any audit/independent examination fees. costs linked to the str*ewc management of the Charity. tOEether with 2 share of other administr3tlon c. Other expenditure These are support costs not allocated to a particular activity. Grant5 payable Governance costs Taxatlo The charity is exempt from tax on Its tharttable artrth& Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand. demand deItS wilh banks and other short4erm highly liquid investments with oriwnal maturities of three rnorrths or less and bank overdrafts. In the statement of financial positiTh), bank crlerdrafts are sh within borrowings or current liabilities. In the Statement of Cash Hows. cash and cash equivalents are shown net of bank overdraftsthat are repayable on demand and forni an integral part ofthe companrfs cash management. Trade and otherueditors Short terrn credttors are measured at the transacti<¥t pr[. Other creditors and provrsions are regnised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and proon$ are nonnally recognised at their settlement amount after allowingfor anytrade discounts due. Receipt of donated goods, fKilities and ser¥ic•s All donated goods, facilities and services received are recogni5ed wFthin incoming resources and expenditure at an estimate of the value to the (harity. Page 8
Ner Ylsrael Gema¢h Notes to the AccwTrts 2 Statement of Flnandal Activities. prh)r aT Unrestiirted funds Totsl funds 2023 2023 Income and wdrwments from: Donations and legaaes Investments 104,962 540 104,962 540 Totsl 105,502 105,502 Expendlture on: charitable activtties 125,682 437 125,682 437 Other Totsl 126,119 126,119 Net Income 120,6171 120,6171 Net income before other gains1{1055e5) other gains and10sses: Net rnovement in funds 120,6171 120,6171 120,6171 (20,6171 Reconciliation of funds: Total funds brought forward T•)tal fvnds carr1 fon¥ard 123,206 123.206 102,589 102,589 3 Income from donations and lega Total Total 2024 2023 Donations retrrved 113.253 113.253 113,253 113,253 104,962 104.962 4 IrKome from investments Total Totsl 2024 2023 Bank interest 1.597 1.597 1,597 1.597 540 540 Page 9
Ner Ylsrael Gemach Notes to the Accounts 5 Expendlture •)n chwitsble a¢li¥lties Totsl 2024 Total 2023 Expenditure on Clritable activitses Grants pald 123,218 123,218 125,682 123,218 123,218 125.682 6 Other expenL4ture Totsl Total 2024 2023 Generdl administratNe costs Legal and professional costs 193 193 212 225 225 225 418 418 437 7 Staft Costs No employee reIVed emoluments in excess of £60.1 8 Crnditors: amounts falling due within one year 2024 2023 Ac(ruals 450 225 450 225 9 Movement In funds Incoming (Induding other At 6 April gairflosses 2023 Resources expended At5 Aprll 2024 Restricted fund&. Unrestrlcted lund%" General funds 102.589 114.850 1123,636) 93,803 Totsl funds 10 Analysis of net assets bètween funds 102,589 114.850 1123,636) 93.803 Unrestrlcted funds Total Net current assets 93.803 93,803 93.803 93.803 Page 10
Ner Ylsrael Gemach Notes to the A¢wunts 11 Reconclliation of net debt At 6 Awll 2023 Al 5 Aprll 2024 Cash Ilows Cash and cash equivalents 102,814 102.814 18,5611 {8,561} 94,253 94,253 Net debt 102.814 18,5611 94,253 Page 11
Ner Ylsrael Gemach Detsiled statement of Financial Acli¥itses for the year ended S Aprbl 2024 Unrestrirted funds Totsl funds Totsl funds 2024 2024 2023 Income and endcA¥ments from: Donations and legaaes Donations reiVed 113.253 113.253 113,253 113.253 104.962 104,962 Inveslments Bank interest 1.597 1.597 1,597 1,597 540 540 Total Incorne and endowments 114.850 114,850 105,502 Expenditure on: Charitable actNlties Grants paid 123,218 123,218 123,218 123.218 125,682 125,682 Totsl of expendfture on tharitaljle acthtltlts 123,218 123,218 125,682 General adminlstrat5ve costs Bank charges Software, IT support and related costs 50 50 72 143 143 140 193 193 212 Legal and professional costs Audit/lndependent examination fees 225 225 225 225 225 225 Total of expendtture of other costs Tot•1 expenditure 418 418 437 123.636 123,636 126.119 Net gains on investments Net expendlture 18,7861 18,786) 120,6171 Net eXpendIre before other gains1110sses) Other Gains {8.7861 {8,7861 120,6171 Net movement in fun& 18.7861 18,7861 120,6171 Reconclllatlon of funds: Total funds brcMJght forward 102.589 102,589 123,206 Totsl funds Caled foThYard 93,803 93,803 102,589 Page 12