REGISTERED CHARITY NUMBER: 1187731
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 DECEMBER 2022
FOR JOSHA
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
JOSHA
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 DECEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 11 |
JOSHA
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 4 DECEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 4 December 2022. 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 principal objectives of the charity are:
The advancement of the Orthodox Jewish religion for the public benefit by providing grants to synagogues and other religious charities for the provision of religious objects, prayer books and other religious study books, and for the public celebration of religious festivals.
The advancement of Orthodox Jewish education and education in general by providing grants to educational institutions.
The relief of poverty for the public benefit by providing grants to other charities working to prevent or relieve poverty and to individuals.
The relief of sickness and infirmity for the public benefit by providing grants to other charities working to relieve sickness and infirmity and to individuals.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aims and objectives and planning future activities and setting the grant making policy for the year.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charitable company.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year under review the charity received donations totalling £750,000 (2021: £950,000) and paid donations that amounted to £144,836 (2021: £1,850).
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are 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 administrative costs of the charity for the next year.
FUTURE PLANS
The charity plans to continue its activities subject to satisfactory incoming resources.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and constitutes a Charitable Incorporated Organisation.
Organisational structure
The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
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.
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JOSHA
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 4 DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1187731
Principal address
12 Sinclair Grove London NW11 9JG
Trustees
Mrs S D Springer Trustee BB Springer Trustee J Springer Chair
Independent Examiner
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 16 June 2023 and signed on its behalf by:
J Springer - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOSHA
Independent examiner's report to the trustees of JOSHA
I report to the charity trustees on my examination of the accounts of JOSHA (the Trust) for the year ended 4 December 2022.
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 member of the Institute of Chartered Accountants in England and Wales, 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
M A Venitt
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
16 June 2023
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JOSHA
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 4 DECEMBER 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Charitable activities 4 Charitable Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Year ended 4.12.22 Unrestricted fund £ 750,000 33,728 783,728 144,911 720 145,631 638,097 947,430 1,585,527 |
Period 1.12.20 to 4.12.21 Total funds £ 950,000 - |
|---|---|---|
| 950,000 | ||
| 2,570 - |
||
| 2,570 | ||
| 947,430 - |
||
| 947,430 |
The notes form part of these financial statements
Page 4
JOSHA
BALANCE SHEET 4 DECEMBER 2022
| Notes CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
4.12.22 Unrestricted fund £ 1,404,808 181,438 1,586,246 (719) 1,585,527 1,585,527 1,585,527 1,585,527 1,585,527 |
4.12.21 Total funds £ - 947,430 |
|---|---|---|
| 947,430 - |
||
| 947,430 | ||
| 947,430 | ||
| 947,430 | ||
| 947,430 | ||
| 947,430 |
The financial statements were approved by the Board of Trustees and authorised for issue on 16 June 2023 and were signed on its behalf by:
J Springer - Trustee
The notes form part of these financial statements
Page 5
JOSHA
CASH FLOW STATEMENT FOR THE YEAR ENDED 4 DECEMBER 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Interest received Net cash provided by investing 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 |
Year ended 4.12.22 £ (799,720) (799,720) 33,728 33,728 (765,992) 947,430 181,438 |
Period 1.12.20 to 4.12.21 £ 947,430 |
|---|---|---|
| 947,430 | ||
| - | ||
| - | ||
| 947,430 - |
||
| 947,430 |
The notes form part of these financial statements
Page 6
JOSHA
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 4 DECEMBER 2022
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Interest received Increase in debtors Increase in creditors Net cash (used in)/provided by operations |
Year ended 4.12.22 £ 638,097 (33,728) (1,404,808 ) 719 (799,720) |
Period 1.12.20 to 4.12.21 £ 947,430 - - - |
|---|---|---|
| 947,430 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 5.12.21 | Cash flow | At 4.12.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 947,430 | (765,992) | 181,438 |
| 947,430 | (765,992) | 181,438 | |
| Total | 947,430 | (765,992) | 181,438 |
The notes form part of these financial statements
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JOSHA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 DECEMBER 2022
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 offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Governance costs
Goverance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
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. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| Period | ||
| 1.12.20 | ||
| Year ended | to | |
| 4.12.22 | 4.12.21 | |
| £ | £ | |
| Donations | 750,000 | 950,000 |
continued...
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JOSHA
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 4 DECEMBER 2022
3. INVESTMENT INCOME
| Interest 4. CHARITABLE ACTIVITIES COSTS Charitable 5. GRANTS PAYABLE Charitable 6. SUPPORT COSTS Other resources expended Charitable |
Year ended 4.12.22 £ 33,728 Grant funding of activities Support (see note costs (see 5) note 6) £ £ 144,836 75 Year ended 4.12.22 £ 144,836 Governance Finance costs £ £ - 720 75 - 75 720 |
Period 1.12.20 to 4.12.21 £ - Totals £ 144,911 |
Period 1.12.20 to 4.12.21 £ - Totals £ 144,911 |
|---|---|---|---|
| Period 1.12.20 to 4.12.21 £ 1,850 |
|||
| Totals £ 720 75 795 |
|||
| 795 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 4 December 2022 nor for the period ended 4 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 4 December 2022 nor for the period ended 4 December 2021.
continued...
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JOSHA
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 4 DECEMBER 2022
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Charitable NET INCOME TOTAL FUNDS CARRIED FORWARD 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 11. MOVEMENT IN FUNDS At 5.12.21 £ Unrestricted funds General fund 947,430 TOTAL FUNDS 947,430 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 783,728 TOTAL FUNDS 783,728 |
4.12.22 £ 1,404,808 4.12.22 £ 719 Net movement in funds £ 638,097 638,097 Resources expended £ (145,631) (145,631) |
Unrestricted fund £ 950,000 2,570 947,430 947,430 4.12.21 £ - 4.12.21 £ - At 4.12.22 £ 1,585,527 1,585,527 Movement in funds £ 638,097 638,097 |
|---|---|---|
continued...
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JOSHA
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 4 DECEMBER 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.12.20 £ Unrestricted funds General fund - TOTAL FUNDS - Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 950,000 TOTAL FUNDS 950,000 |
Net movement At in funds 4.12.21 £ £ 947,430 947,430 947,430 947,430 Resources Movement expended in funds £ £ (2,570) 947,430 (2,570) 947,430 |
|---|---|
12. RELATED PARTY DISCLOSURES
During the period Josha received donations amounting to £500,000 from Remodifyz Trust, a charity whose trustees are related to Josha's trustees.
During the period Josha received a donation of £250,000 from Reisel Trust, a charity whose trustees are related to Josha's trustees.
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