CHARITY REGISTRATION NUMBER: 1192044
CHABAD LUBAVITCH BRIGHTON Unaudited Financial Statements 31 December 2021
GK & CO. LLP
Chartered accountants Hallswelle House 1 Hallswelle Road London NW11 0DH
CHABAD LUBAVITCH BRIGHTON
Financial Statements
Period from 28 October 2020 to 31 December 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
CHABAD LUBAVITCH BRIGHTON
Trustees' Annual Report
Period from 28 October 2020 to 31 December 2021
The trustees present their report and the unaudited financial statements of the charity for the period ended 31 December 2021.
Reference and administrative details
Registered charity name CHABAD LUBAVITCH BRIGHTON Charity registration number 1192044 Principal office 15 Upper Drive Hove BN3 6GR England The trustees Mr E Y Suftin (Appointed 28 October 2020) Mr D A Wilks (Appointed 28 October 2020) Mr A K Fehler (Appointed 28 October 2020) Independent examiner GK & Co. LLP Hallswelle House 1 Hallswelle Road London NW11 0DH
Structure, governance and management
Chabad Lubavitch Brighton CIO was established on 28 October 2020. The objects of the Charity are the advancement of the Orthodox Jewish faith in accordance with the principles and teachings of Chabad in such ways as are exclusively charitable in English Law and in particular but not exclusively by providing Jewish people living in East and West Sussex.
Objectives and activities
The objects of the Charity are the advancement of the Orthodox Jewish faith in accordance with the principles and teachings of Chabad in such ways as are exclusively charitable in English Law and in particular but not exclusively by providing Jewish people living in East and West Sussex.
Achievements and performance
In the period to 31 December 2021, the Charity received £42,941 in charitable income and spent £41,074 in charitable expenditure.
As at 31 December 2021, the unrestricted reserves of the Charity were £1,867.
Financial review
As at 31 December 2021, the Charity had unrestricted reserves of £1,867 for which the Charity believes is sufficient to continue running its day to day activity.
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CHABAD LUBAVITCH BRIGHTON
Trustees' Annual Report (continued)
Period from 28 October 2020 to 31 December 2021
The trustees' annual report was approved on 10 January 2023 and signed on behalf of the board of trustees by:
Mr D A Wilks Mr A K Fehler Trustee Trustee
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CHABAD LUBAVITCH BRIGHTON
Independent Examiner's Report to the Trustees of CHABAD LUBAVITCH BRIGHTON
Period from 28 October 2020 to 31 December 2021
I report to the trustees on my examination of the financial statements of CHABAD LUBAVITCH BRIGHTON ('the charity') for the period ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
GK & Co. LLP Independent Examiner
Hallswelle House 1 Hallswelle Road London NW11 0DH
10 Jan 23
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CHABAD LUBAVITCH BRIGHTON
Statement of Financial Activities
Period from 28 October 2020 to 31 December 2021
| Period from | 28 Oct | 20 to | ||
|---|---|---|---|---|
| 31 Dec 21 | ||||
| Unrestricted | ||||
| funds | Total | funds | ||
| Note | £ | £ | ||
| Income and endowments | ||||
| Donations | 4 | 42,941 | 42,941 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Total income | 42,941 | 42,941 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 41,074 | 41,074 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Total expenditure | 41,074 | 41,074 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Net income and net movement in funds | 1,867 | 1,867 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Reconciliation of funds | ||||
| Total funds brought forward | – | – | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Total funds carried forward | 1,867 | 1,867 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 10 form part of these financial statements.
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CHABAD LUBAVITCH BRIGHTON
Statement of Financial Position
31 December 2021
| 31 Dec 21 | ||
|---|---|---|
| Note | £ | |
| Current assets | ||
| Cash at bank and in hand | 2,926 | |
| Creditors: amounts falling due within one year | 10 | 1,059 |
| ৄৄৄৄৄৄৄ | ||
| Net current assets | 1,867 | |
| ৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | 1,867 | |
| ৄৄৄৄৄৄৄ | ||
| Net assets | 1,867 | |
| ৶৶৶৶৶৶৶ | ||
| Funds of the charity | ||
| Unrestricted funds | 1,867 | |
| ৄৄৄৄৄৄৄ | ||
| Total charity funds | 12 | 1,867 |
| ৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 10 Jan 23, and are signed on behalf of the board by:
Mr D A Wilks Mr A K Fehler Trustee Trustee
The notes on pages 6 to 10 form part of these financial statements.
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CHABAD LUBAVITCH BRIGHTON
Notes to the Financial Statements
Period from 28 October 2020 to 31 December 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 15 The Upper Drive, Hove, BN3 6GR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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CHABAD LUBAVITCH BRIGHTON
Notes to the Financial Statements (continued)
Period from 28 October 2020 to 31 December 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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CHABAD LUBAVITCH BRIGHTON
Notes to the Financial Statements (continued)
Period from 28 October 2020 to 31 December 2021
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Donations | ||
| Donations type 1 | 37,791 | 37,791 |
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CHABAD LUBAVITCH BRIGHTON
Notes to the Financial Statements (continued)
Period from 28 October 2020 to 31 December 2021
4. Donations (continued)
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Grants | ||
| Grants receivable | 5,150 | 5,150 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 42,941 | 42,941 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Charitable Expenditure | 39,995 | 39,995 |
| Support costs | 1,079 | 1,079 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 41,074 | 41,074 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
6. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | ||||
| directly Support costs | 2021 | ||||
| £ | £ | £ | |||
| Charitable Expenditure | 39,995 | – | 39,995 | ||
| Governance costs | – | 1,079 | 1,079 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 39,995 | 1,079 | 41,074 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Independent examination fees | |||||
| Period from | |||||
| 28 | Oct 20 to | ||||
| 31 | Dec 21 | ||||
| £ | |||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 1,080 ৶৶৶৶৶৶৶ |
7. Independent examination fees
8. Staff costs
The average head count of employees during the period was 1.
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
9. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
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CHABAD LUBAVITCH BRIGHTON
Notes to the Financial Statements (continued)
Period from 28 October 2020 to 31 December 2021
10. Creditors: amounts falling due within one year
| 31 Dec 21 | |
|---|---|
| £ | |
| Accruals and deferred income | 1,080 |
| Other creditors | (21) |
| ৄৄৄৄৄৄৄ | |
| 1,059 | |
| ৶৶৶৶৶৶৶ |
11. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £834.
12. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 28 | October | 20 | 31 | December | ||
| 20 | Income | Expenditure | 2021 | |||
| £ | £ | £ | £ | |||
| General funds | – ৶৶৶৶ |
42,941 ৶৶৶৶৶৶৶৶ |
(41,074) ৶৶৶৶৶৶৶৶ |
1,867 ৶৶৶৶৶৶৶ |
13. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Current assets | 2,926 | 2,926 |
| Creditors less than 1 year | (1,059) | (1,059) |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Net assets | 1,867 | 1,867 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
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