REGISTERED CHARITY NUMBER: 1187800
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
FOR BENLEY
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
BENLEY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
| 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 | 10 |
BENLEY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 October 2021. 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 charity's objects are to advance religion in accordance with the Orthodox Jewish faith and for such other purposes as are recognised by English Law as charitable and in furtherance of the objects below:
a) 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 religion festivals.
b) The advancement of Orthodox Jewish education and education in general by providing grants to educational institutions.
c) The relief of poverty for the public benefit by providing grants to other charities working to prevent or relieve poverty and to individuals.
d) 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 their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity received £950,000 (2020: £nil) in charitable donations.
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 trustees will continue to pursue the charity's objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution and constitutes a charitable incorporated organisation.
Recruitment and appointment of new trustees
The trustees will apply suitable recruitment and training procedures in relation to the appointment of new trustees.
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1187800
Page 1
BENLEY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2021
Principal address
15 Courtleigh Gardens London NW11 9JX
Trustees
R D Noe Mrs H M Springer BB Springer M Stimler (appointed 14.11.21) M Bodner (appointed 14.11.21)
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 30 August 2022 and signed on its behalf by:
BB Springer - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BENLEY
Independent examiner's report to the trustees of BENLEY
I report to the charity trustees on my examination of the accounts of BENLEY (the Trust) for the year ended 31 October 2021.
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 A.C.A 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 A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
30 August 2022
Page 3
BENLEY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2021
| Period | ||||
|---|---|---|---|---|
| 6.2.20 | ||||
| Year ended | to | |||
| 31.10.21 | 31.10.20 | |||
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 2 | 950,000 | - | |
| EXPENDITURE ON | ||||
| Other | 1,020 | - | ||
| NET INCOME | 948,980 | - | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | - | - | ||
| TOTAL FUNDS CARRIED FORWARD | 948,980 | - |
The notes form part of these financial statements
Page 4
BENLEY
BALANCE SHEET 31 OCTOBER 2021
| 31.10.21 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 950,000 CREDITORS Amounts falling due within one year 6 (1,020) NET CURRENT ASSETS 948,980 TOTAL ASSETS LESS CURRENT LIABILITIES 948,980 NET ASSETS 948,980 FUNDS 7 Unrestricted funds 948,980 TOTAL FUNDS 948,980 |
31.10.20 Total funds £ - - |
|---|---|
| - | |
| - | |
| - | |
| - | |
| - |
The financial statements were approved by the Board of Trustees and authorised for issue on 30 August 2022 and were signed on its behalf by:
BB Springer - Trustee
M Stimler - Trustee
H M Springer - Trustee
M Bodner - Trustee
The notes form part of these financial statements
Page 5
BENLEY
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2021
| Year ended 31.10.21 Notes £ Cash flows from operating activities Cash generated from operations 1 950,000 Net cash provided by operating activities 950,000 Change in cash and cash equivalents in the reporting period 950,000 Cash and cash equivalents at the beginning of the reporting period - Cash and cash equivalents at the end of the reporting period 950,000 |
Period 6.2.20 to 31.10.20 £ - |
|---|---|
| - | |
| - - |
|
| - |
The notes form part of these financial statements
Page 6
BENLEY
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2021
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: Increase in creditors Net cash provided by operations 2. ANALYSIS OF CHANGES IN NET FUNDS At 1.11.20 £ Net cash Cash at bank - - Total - |
Year ended 31.10.21 £ 948,980 1,020 950,000 Cash flow £ 950,000 950,000 950,000 |
Period 6.2.20 to 31.10.20 £ - - |
Period 6.2.20 to 31.10.20 £ - - |
|---|---|---|---|
| - | |||
| At 31.10.21 £ 950,000 950,000 950,000 |
|||
| 950,000 | |||
| 950,000 |
The notes form part of these financial statements
Page 7
BENLEY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
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.
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 | ||
| 6.2.20 | ||
| Year ended | to | |
| 31.10.21 | 31.10.20 | |
| £ | £ | |
| Donations | 950,000 | - |
continued...
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BENLEY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021
3. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance | |
| costs | |
| £ | |
| Other resources expended | 1,020 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2021 nor for the period ended 31 October 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2021 nor for the period ended 31 October 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| NET INCOME TOTAL FUNDS CARRIED FORWARD 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.11.20 £ Unrestricted funds General fund - TOTAL FUNDS - Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 950,000 TOTAL FUNDS 950,000 |
Total funds £ - - 31.10.21 31.10.20 £ £ 1,020 - Net movement At in funds 31.10.21 £ £ 948,980 948,980 948,980 948,980 Resources Movement expended in funds £ £ (1,020) 948,980 (1,020) 948,980 |
|---|---|
continued...
Page 9
BENLEY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2021.
Page 10