REGISTERED COMPANY NUMBER: 12286534 (England and Wales) REGISTERED CHARITY NUMBER: 1187977
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
FOR
SHTIBEL GUR LTD
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
SHTIBEL GUR LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
SHTIBEL GUR LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2023. 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 objectives are to advance the Orthodox Jewish religion for the benefit of the public, in particular but not exclusively, by the holding of prayer meetings, lectures, public celebration of religious festivals; and for the public benefit, the prevention and relief of poverty and financial hardship.
Public benefit
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)', and its obligations under the Equalities Act 2010. The Trustees are satisfied that they have met their obligations.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year under review the charity raised funds from donations and grants, and has spent almost all of the funds raised in the furtherance of its objectives.
During the year under review the charity received generous donations and grants that amounted to £48,293 (2022: £190,773) and spent £43,017 (2022: £171,040) on charitable activities.
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, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act, 2006.
Recruitment and appointment of new trustees
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
12286534 (England and Wales)
Registered Charity number
1187977
Page 1
SHTIBEL GUR LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023
Registered office
Flat 6 31 Amhurst Park London N16 5DJ
Trustees
M Y Lieberman Head Teacher S Wahrhaftig Secretary Y D Woloch Student (resigned 15.8.24) P M Kohn (appointed 2.9.24)
Independent Examiner
M A Venitt, A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 3 September 2024 and signed on its behalf by:
S Wahrhaftig - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHTIBEL GUR LTD
Independent examiner's report to the trustees of SHTIBEL GUR LTD ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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 matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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
3 September 2024
Page 3
SHTIBEL GUR LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 38,293 Charitable activities Charitable activities - Total 38,293 EXPENDITURE ON Charitable activities Charitable activities 33,017 Other 936 Total 33,953 NET INCOME 4,340 RECONCILIATION OF FUNDS Total funds brought forward 11,357 TOTAL FUNDS CARRIED FORWARD 15,697 |
Restricted fund £ - 10,000 10,000 10,000 - 10,000 - - - |
31.10.23 31.10.22 Total Total funds funds £ £ 38,293 190,773 10,000 - 48,293 190,773 43,017 171,040 936 1,000 43,953 172,040 4,340 18,733 11,357 (7,376) 15,697 11,357 |
|---|---|---|
The notes form part of these financial statements
Page 4
SHTIBEL GUR LTD
BALANCE SHEET 31 OCTOBER 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 51,212 CURRENT ASSETS Debtors 6 6,000 Cash at bank 3,437 9,437 CREDITORS Amounts falling due within one year 7 (4,063) NET CURRENT ASSETS 5,374 TOTAL ASSETS LESS CURRENT LIABILITIES 56,586 CREDITORS Amounts falling due after more than one year 8 (40,889) NET ASSETS 15,697 FUNDS 10 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
31.10.23 Total funds £ 51,212 6,000 3,437 9,437 (4,063) 5,374 56,586 (40,889) 15,697 15,697 15,697 |
31.10.22 Total funds £ 54,143 - 15,768 15,768 (12,164) 3,604 57,747 (46,390) 11,357 11,357 11,357 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
SHTIBEL GUR LTD
BALANCE SHEET - continued 31 OCTOBER 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 3 September 2024 and were signed on its behalf by:
M Y Lieberman - Trustee
S Wahrhaftig - Trustee
P M Kohn - Trustee
The notes form part of these financial statements
Page 6
SHTIBEL GUR LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on reducing balance Fixtures and fittings - 15% on reducing balance
Taxation
The charity is exempt from corporation 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. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.10.23 | 31.10.22 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 2,931 | - |
continued...
Page 7
SHTIBEL GUR LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 190,773 EXPENDITURE ON Charitable activities Charitable activities 171,040 Other 1,000 Total 172,040 NET INCOME 18,733 RECONCILIATION OF FUNDS Total funds brought forward (7,376) TOTAL FUNDS CARRIED FORWARD 11,357 5. TANGIBLE FIXED ASSETS Improvements to property £ COST At 1 November 2022 and 31 October 2023 51,902 DEPRECIATION Charge for year 2,595 NET BOOK VALUE At 31 October 2023 49,307 At 31 October 2022 51,902 |
Restricted fund £ - - - - - - - Fixtures and fittings £ 2,241 336 1,905 2,241 |
Total funds £ 190,773 171,040 1,000 172,040 18,733 (7,376) 11,357 Totals £ 54,143 2,931 51,212 54,143 |
|---|---|---|
continued...
Page 8
SHTIBEL GUR LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.10.23 | 31.10.22 | |||
| £ | £ | |||
| Other debtors | 6,000 | - | ||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.10.23 | 31.10.22 | |||
| £ | £ | |||
| Other creditors | 3,163 | 11,002 | ||
| Accrued expenses | 900 | 1,162 | ||
| 4,063 | 12,164 | |||
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 31.10.23 | 31.10.22 | |||
| £ | £ | |||
| Bank loans (see note 9) | 40,889 | 46,390 | ||
| 9. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 31.10.23 | 31.10.22 | |||
| £ | £ | |||
| Amounts falling due between two and five years: | ||||
| Bank loans - 2-5 years | 40,889 | 46,390 | ||
| 10. | MOVEMENT IN FUNDS | |||
| Net | ||||
| At | movement | At | ||
| 1.11.22 | in funds | 31.10.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 11,357 | 4,340 | 15,697 | |
| TOTAL FUNDS | 11,357 | 4,340 | 15,697 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 38,293 | (33,953) | 4,340 | |
| Restricted funds | ||||
| Restricted grants | 10,000 | (10,000) | - | |
| TOTAL FUNDS | 48,293 | (43,953) | 4,340 |
continued...
Page 9
SHTIBEL GUR LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.11.21 £ Unrestricted funds General fund (7,376) TOTAL FUNDS (7,376) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 190,773 TOTAL FUNDS 190,773 |
Net movement At in funds 31.10.22 £ £ 18,733 11,357 18,733 11,357 Resources Movement expended in funds £ £ (172,040) 18,733 (172,040) 18,733 |
Net movement At in funds 31.10.22 £ £ 18,733 11,357 18,733 11,357 Resources Movement expended in funds £ £ (172,040) 18,733 (172,040) 18,733 |
|---|---|---|
| 18,733 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net At movement At 1.11.21 in funds 31.10.23 £ £ £ (7,376) 23,073 15,697 (7,376) 23,073 15,697 |
Net At movement At 1.11.21 in funds 31.10.23 £ £ £ (7,376) 23,073 15,697 (7,376) 23,073 15,697 |
|---|---|---|
| 15,697 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 229,066 | (205,993) | 23,073 |
| Restricted funds | |||
| Restricted grants | 10,000 | (10,000) | - |
| TOTAL FUNDS | 239,066 | (215,993) | 23,073 |
continued...
Page 10
SHTIBEL GUR LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2023.
Page 11