CHARITY REGISTRATION NUIABER: 1192435 Chasdei Sorele Unaudited Financial Statements 31 December 2023 BRINDLEY LD TEIN LIMITED Chartered accountants 103 High Street Waltham Cross Herts Chasdei Sorele Financial Statemenls Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements Chasdei Sorele Trustees, Annual Report Year ended 31 December 2023 The Iruslees present their report and the unaudited financial statements of the charity lor the year ended 31 December 2023. Reference and admlnlstratlve detalls Reglstered charlty name Chasdei Sorele Charlty reglstratlon number 1192435 Prlnclpal offl¢e Flat 10 125C Claplon Common London E5 9AB The trustees Mr A. M Shellon Mr S. Kemellield Mr B. Levy Independent oxamlner Charles Goldslein FCA 103 High Sireel Wallham Cross Herts EN8 7AN Structure, governance and management The Charity is controlled by its governing document, a Charilable Incorporated Organisalion registered on 19 November 2020. The Iruslees administer the day-loday affairs of the Charity. None of the Trustees have any bonelicial interest in the Charity. Obledlve$ and acllvllles The charills objective is to h8lp individuals in nged by way of providing food packages andlor financial grants. Achlevements and performance During the year under review, the charity received donations amounting to £798,59512022.. £207,657) and achieved a surplus of income over expenditure amounting to £5,09812022.. £14,487 delicitl. Flnanclal revlew The financial results of the Charivs activrties for the year are reflected in these financial slalements, together wth the noles thereon. The trustees are satisfied ￿th the results lor the year. Chasdei Sorele Trustees, Annual Report (Contin￿d) Year ended 31 December 2023 The Iruslees, annual report was approved on 30 October 2024 and signed on beham ol the board ol trustees by.. Mr A. M. Shelton Trustee Chasdei Sorele Independent Examiner's Report lo the Truslees of Chasdei Sorele Year ended 31 December 2023 I report to the trustees on my examination of the financial statements of Chasdei Sorele I'the charily'l for the year ended 31 December 2023. Responsibilities and basis of report As the trustees of the charity you are responsible lor the preparation ol the financial slalemenls in accordance with the requirements of the Charities Act 2011 I'lhe Acl'l. I report in respect ol my examination ol the charitvs linancial slalements carried out under section 145 ol the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl ol Ihe Act. Independent examlnor's statemont Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 01 the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member ol the Inslilule ol Chartered Accounlanls in England and Wales IICAEWI, which is one ol the listed bcKiies. I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examinalion giving me cause lo believe Ihat in any material respect.. accounting records were not kept in respect ol the charity as required by section 130 of the Act., or the financial slalements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and conlenl ol accounts sel out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and lair. view which is not a matter considered as part ol an independent examination. I have no concerns and have come across no olher matters in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding ol the accounts lo be reached. Charle5 Gold51ein FCA Independent Examiner 103 High Street Waltham Cross Herts EN8 7AN 30 October 2024 Chasdei Sorele Slatement of Financial Aclivilies Year ended 31 December 2023 2023 Uniesliicled funds Total funds Total funds 2022 Note Income and endowrnents Donations and legacies Total income 798.595 798.595 207,657 798.595 798.595 207,657 Expenditure Expenditure on charitable activities Total expenditure 793.497 793.497 222,144 793.497 793.497 222,144 Net Incomellexpendlture} and net movement In funds 5.098 5.098 114,4871 Roconelllatlon ot funds Total funds brought forward Total funds carrled forward 185,4321 180,3341 185,4321 180,3341 170,9451 185,4321 The slalement ol financial activities includes all gains and losses recconised in the year. All income and expenditure derive from continuing activities. The note$ on p•ge$ 7 to 11 torni port of th￿ finan¢l•l $tstement$. Chasdei Sorele Slatement of Financial Position 31 December 2023 2073 2022 Note Current assets Cash al bank and in hand 8.064 1,405 Creditors: amounts falling due within one year Nel current liabilities 11 88.398 86,837 80.334 85,432 Total assets less current liabilitles 180.3341 180.3341 185,4321 185,4321 Net liabilities Funds of the charlty Unreslricled funds 180,3341 180.3341 185,4321 185,4321 Total charlty funds 12 These financial slalemenls were approved by the board of trustees and aulhorised lor issue on 30 October 2024, and are signed on behalf ol the board by- Mr A. M. Sh8llon Trustee The note$ on p•ge$ 7 to 11 torni port of th￿ finan¢l•l $tstement$. Chasdei Sorele Slatement of Cash Flows Year ended 31 December 2023 2073 2022 Cash flows from operating activities Net incomellexpendilurel 5.098 114,4871 Adjustments lor.. Interest payable and similar charges Accrued expenses 171 360 20 Changes in.. Trade and other creditors 1.201 Cash generated from opeiations 6.830 114,4671 Interest paid Nel cash Iromllused inl operating aclivilie$ 11711 6.659 1201 114,4871 Not Incroasol{decrea$•l In Cash and ¢ash equlvalenls Cash and cash equlvalents at boglnnlng of year Cash and cash equlvalents at ond ol year 6,659 1,405 114,4871 15,892 8,064 1,405 The note$ on p•ge$ 7 to 11 torni port of th￿ finan¢l•l $tstement$. Chasdei Sorele Noles lo the Financial Slatements Year ended 31 December 2023 General information The charity is a public benefit entity and a registered charty in England and Wales and is unincorporated. The address ol the principal office is Flat 10. 125C Clapton Common, London, E5 9AB. Staternent of compllance These financial slalements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic ol Ireland,, the Sialemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Fleporting Standard applicable in Ihe UK and Flepublic ol Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Chaiilies Acl 2011. Accountlng pollcles 8asls ol preparotlon The financial slalements have been prepared on the histor￿al cost basis, as m¢JJilied by th8 revaluation ol certain financial assets and liabilities and inveslm8nl properties measur8d al lair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency ol the entity. Golng concern There are no material uncertainties at￿ul the charit￿S ability lo continue. Judgements and key sources of esllmatlon uncertalnty There are no judgements and eslimales. Fund a¢countlng Unroslricled funds are availabl8 for usè al the discretion of the Irusl8es lo lurth&r any ol th8 charity's purposes. Designated funds ar8 unresiricted funds èarmarked by th8 trustees lor particular future project or commitment. Restricted funds are subjected lo reslriclions on their expenditure declared by the donor or through the terms of an aF¥Jeal, and fall into one ol two sub-classes= restricted income funds or endowment funds. Chasdei Sorele Noles lo the Financial Slatements (conti￿) Year ended 31 December 2023 Accounting policies (¢onllnu¢d) Incoming resources All incoming resources are included in the slalemenl of linancial activities when enlillemenl has passed lo the charity- il is probable Ihat the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The lollowing specific policies are applied lo particular categoiies of income: income from donations or granls is recognised when there is evidence ol enlillement lo the gift, receipt is probable and ils amounl can be measured reliably. legacy income is recognised when receipt is probable and enlitlement is established. incorne Irom donated goods is measured at the fair value ol the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received il the value can be reliably rneasured. No amounts are included lor the contribution ol general volunteers. income from contracts lor the supply ol services is recognised with the delivery ol the contracted service. This is classified as unrestricted funds unless there is a ¢onlraclual requirement lor il lo be spent on a particular purpose and returned il unspent, in which case il may be regarded as f8Slricied. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be lully recovered, and is classified under headings ot the statement ol financial activities lo which il relates= expenditure on raising funds includes the costs ol all lundiaising aclivrties, events, non- charitable trading activities. and the sale of donaled goods. expenditure on charitable aclwities includes all costs incurred by a charity in undertaking activities that further ils charitable aims lor the benefit ol ils beneficiaries, including those support costs and ¢osls ielaling lo the governance ol the Charity apportioned lo charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs allributable lo a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities they contribute lo 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 conlraclual provisions ol the inslrumenl. Basic financial instruments are initially recognised al Ihe amount receivable or payable including any relaled transaction costs. Chasdei Sorele Noles lo the Financial Slatements (conti￿) Year ended 31 December 2023 Accounting policies (¢onllnu¢d) Financial instruments {ConUnu￿j Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured al amortised cost. Where investments in shares are publicly traded or their lair value can olhetwise be measured reliably, the investment is subsequently measured al lair value with changes in fair value recognised in income and expendilure. Al other such inveslments are subsequently measured al cost less impairment. Other financial inslrumenls, including derivatives, are initially recognised al lair value, unless payment lor an asset is deferred beyond normal business terms or financed al a rate of interest that is not a market rate, in which case the asset is measured al the present value ol the futur8 payments discounted al a market rale ol interest lor a similar debt instrument. Other financial instruments are subsequently measured al lair value, wlh any changes recognised in the statement ol financial aclivilies, with the exceptson of hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised cost are reviewed lor objective evidence ol impairment al the end ol each reFW)rting dale. 11 there is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in the statement ol financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually signilicanl, these are assessed individually lor impairment. Other financial assets are either assessed individually or grouped on the basis ol similar credit risk characteristics. Any reversals ol impairment are recognised immedialely, lo the exlenl that the reversal does not result in a carrying amount ol the financial asset that exceeds what the carrwng amount would have been had the impairment not previously been recognised. Donations and legacies UnTeslricled Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Donations received 798,595 798.595 207,657 207,657 Expendlture on charltable actlvltles by fund type Unreslricled Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Grant charitable activities Support costs 780,169 13,328 780,169 13,328 220,750 1,394 220,750 1,394 793,497 793,497 222,144 222,144 Chasdei Sorele Noles lo the Financial Slatements (conti￿) Year ended 31 December 2023 Expenditure on charitable activities by activity type Activities undertaken Grant funding difeclly ol activities Support costs Total funds 2023 Total fund 2022 Grant charitable activities Governance costs 393,296 386.873 780,169 13,328 220,750 1,394 13.328 393,296 386.873 13,328 793.497 222,144 Analysls of grants 2023 2022 Grants to Instltutlons Grants to organisalions 62,450 Grants to Indlvlduals Grants lo individuals 324,423 220,750 Total grants 386,873 220,750 Independent examlnatlon fees 2023 2022 Fees payable to the independent examiner for: Independent examination ol the financial slalements 1,560 1,200 Staff costs The average head count of employees during the year was Nil12022.. Nill. No employee received employee benefits of more than £60,000 during the year12022.. Nill. 10. Trustee remuneratlon and expenses There were no Iruslees, remuneration or other benelrts during the year ended 31 December 2023. There were no Iruslees, expenses paid foi during the year ended 31 December 2023. 11. Creditors: arnounts falling due within one year 2023 2022 Trade creditors Accruals and deferred income Other creditors 1.201 1.560 85.637 1,200 85,637 88.398 86,837 Chasdei Sorele Noles lo the Financial Slatements (conti￿) Year ended 31 December 2023 12. Analysis of charitable funds Unrestricted funds Al 1 January 202 At 31 December 2023 Income Expenditure General funds 185.432) 798.595 {793,4971 180,3341 Al 1 January 202 Ai 31 December 2022 Income Expenditure General funds 170,9451 207,657 {222,1441 185,4321 13. Analys1$ of net a$sels between funds Unreslricled Total Funds Funds 2023 Current assets Creditors less than 1 year Net Ilabllltlos 8,064 188,3981 180,3341 8,064 188,3981 180,3341 Unreslricled Total Funds Funds 2022 Current assets Creditors less than 1 year Nel Ilabllltles 1,405 186,8371 185,4321 1,405 186,8371 185,4321 14. Analysls ot changes In net debt At At 1 Jan 2023 Cash flows 31 Dec 2023 Cash at bank and in hand 1.405 6,659 8,064