REGISTERED CHARITY NUMBER: 1188015
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2024
for
The Hiddur C.I.O.
Martin+Heller 5 North End Road London NW11 7RJ
The Hiddur C.I.O.
Contents of the Financial Statements for the Year Ended 31 July 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
The Hiddur C.I.O.
Report of the Trustees for the Year Ended 31 July 2024
The trustees present their report with the financial statements of the charity for the year ended 31 July 2024. 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 was formed with the following objects:
The advancement of the orthodox Jewish faith, mainly but not exclusively, by providing grants to such charitable organisations which advance religion in accordance with the doctrines and principles of orthodox Judaism. The prevention or relief of poverty, by providing grants to individuals in need and organisations working to prevent or relieve poverty.
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.
FINANCIAL REVIEW
Reserves policy
The charity does not maintain a reserves policy, as reserves are utilised when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objectives and the trustees consider the financial position of the charity to be satisfactory.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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
1188015
Principal address
8 Sedgley Avenue Prestwich M25 0LS
Trustees
S Feiner B Borr
Independent Examiner
A Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Page 1
The Hiddur C.I.O.
Report of the Trustees for the Year Ended 31 July 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... S Feiner - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Hiddur C.I.O.
Independent examiner's report to the trustees of The Hiddur C.I.O.
I report to the charity trustees on my examination of the accounts of The Hiddur C.I.O. (the Trust) for the year ended 31 July 2024.
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
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.
A Heller FCA
Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
The Hiddur C.I.O.
Statement of Financial Activities for the Year Ended 31 July 2024
| 31.7.24 | 31.7.23 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | Total funds | |||
| Notes | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Investment income | 2 | 12,200 | 15,000 | |
| EXPENDITURE ON | ||||
| Raising funds | 3 | 13,659 | 9,884 | |
| Charitable activities | ||||
| Donations | 44,807 | 6,238 | ||
| Other | 1,848 | 1,020 | ||
| Total | 60,314 | 17,142 | ||
| Net gains/(losses) on investments | (149,862) | - | ||
| NET INCOME/(EXPENDITURE) | (197,976) | (2,142) | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 702,722 | 704,864 | ||
| TOTAL FUNDS CARRIED FORWARD | 504,746 | 702,722 |
The notes form part of these financial statements
Page 4
The Hiddur C.I.O.
Balance Sheet 31 July 2024
| 31.7.24 Unrestricted fund Notes £ FIXED ASSETS Investment property 6 437,650 CURRENT ASSETS Cash at bank 68,596 CREDITORS Amounts falling due within one year 7 (1,500) NET CURRENT ASSETS 67,096 TOTAL ASSETS LESS CURRENT LIABILITIES 504,746 NET ASSETS 504,746 FUNDS 8 Unrestricted funds 504,746 TOTAL FUNDS 504,746 |
31.7.23 Total funds £ 700,000 3,682 (960) 2,722 702,722 702,722 702,722 702,722 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S Feiner - Trustee
The notes form part of these financial statements
Page 5
The Hiddur C.I.O.
Notes to the Financial Statements for the Year Ended 31 July 2024
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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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.
Page 6
continued...
The Hiddur C.I.O.
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
2. INVESTMENT INCOME
| Rents received RAISING FUNDS Investment management costs Administrative expenses Property repairs Management charges |
31.7.24 £ 12,200 31.7.24 £ 218 10,729 2,712 13,659 |
31.7.23 £ 15,000 |
|---|---|---|
| 31.7.23 £ 500 194 9,190 |
||
| 9,884 |
3. RAISING FUNDS
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 15,000 |
| EXPENDITURE ON | |
| Raising funds | 9,884 |
| Charitable activities | |
| Donations | 6,238 |
| Other | 1,020 |
| Total | 17,142 |
| NET INCOME/(EXPENDITURE) | (2,142) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 704,864 |
continued...
Page 7
The Hiddur C.I.O.
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| fund | ||||||
| £ | ||||||
| TOTAL FUNDS CARRIED FORWARD | 702,722 | |||||
| 6. | INVESTMENT PROPERTY | |||||
| £ | ||||||
| FAIR VALUE | ||||||
| At 1 August 2023 | 700,000 | |||||
| Additions | 437,650 | |||||
| Disposals | (700,000) | |||||
| At 31 July 2024 | 437,650 | |||||
| NET BOOK VALUE | ||||||
| At 31 July 2024 | 437,650 | |||||
| At 31 July 2023 | 700,000 | |||||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||||
| 31.7.24 | 31.7.23 | |||||
| £ | £ | |||||
| Other creditors | 1,500 | 960 | ||||
| 8. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | ||||||
| At 1/8/23 | in funds | At 31/7/24 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 702,722 | (197,976) | 504,746 | |||
| TOTAL FUNDS | 702,722 | (197,976) | 504,746 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 12,200 | (60,314) | (149,862) | (197,976) | ||
| TOTAL FUNDS | 12,200 | (60,314) | (149,862) | (197,976) |
continued...
Page 8
The Hiddur C.I.O.
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | ||||
| At | 1/8/22 | in funds | At 31/7/23 | |
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 704,864 | (2,142) | 702,722 | |
| TOTAL FUNDS | 704,864 | (2,142) | 702,722 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 15,000 | (17,142) | (2,142) | |
| TOTAL FUNDS | 15,000 | (17,142) | (2,142) | |
| A current year 12 months and prior year 12 months combined position is as follows: | ||||
| Net | ||||
| movement | ||||
| At | 1/8/22 | in funds | At 31/7/24 | |
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 704,864 | (200,118) | 504,746 | |
| TOTAL FUNDS | 704,864 | (200,118) | 504,746 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 27,200 | (77,456) | (149,862) | (200,118) |
| TOTAL FUNDS | 27,200 | (77,456) | (149,862) | (200,118) |
continued...
Page 9
The Hiddur C.I.O.
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2024.
Page 10
The Hiddur C.I.O.
Detailed Statement of Financial Activities for the Year Ended 31 July 2024
| 31.7.24 £ INCOME AND ENDOWMENTS Investment income Rents received 12,200 Total incoming resources 12,200 EXPENDITURE Investment management costs Administrative expenses 218 Property repairs 10,729 Management charges 2,712 13,659 Charitable activities Grants to institutions 44,807 Support costs Finance Bank charges 162 Governance costs Legal and professional 186 Accountancy fees 1,500 1,686 Total resources expended 60,314 Net expenditure before gains and losses (48,114) Realised recognised gains and losses Realised gains/(losses) on investment property (149,862) Net expenditure (197,976) |
31.7.23 £ 15,000 15,000 500 194 9,190 9,884 6,238 60 - 960 960 17,142 (2,142) - (2,142) |
|---|---|
This page does not form part of the statutory financial statements
Page 11