REGISTERED COMPANY NUMBER: 12508816 (England and Wales) REGISTERED CHARITY NUMBER: 1193538
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
OHR EMES LTD
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
OHR EMES LTD
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Cash Flow Statement | 7 | ||
| Notes to the Cash Flow Statement | 8 | ||
| Notes to the Financial Statements | 9 | to | 15 |
OHR EMES LTD (REGISTERED NUMBER: 12508816)
REPORT OF THE TRUSTEES for the year ended 31 March 2022
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 March 2022. 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 objectives of the charity are as follows:
a) The relief of poverty, preservation of health and advancement of skills and education in the UK and any part of the world including, but not exclusively, by the provision of funds, items, advice and support as the trustees see fit. b) The advancement of the Jewish faith in the United Kingdom and worldwide in accordance with the statement of faith.
Public benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and 'The Advancement of Religion for the Public Benefit' in particular, when reviewing the aims and objectives and in planning the charity's future activities.The aims of the charity for the public benefit are detailed in the 'Objectives and Activities' section of this report and the main activities undertaken in order to carry out the charity's aims for the public benefit are outlined under 'Achievements and Performance' below.
STRATEGIC REPORT
Achievement and performance
Charitable activities
The trustees seek to achieve the objectives of the charity by developing and broadening the range of activities it provides in support of the community and the beneficiaries it services. As the UK emerged from the Covid-19 pandemic, many families struggled to recover from circumstances which had effected their livelihoods and social wellbeing. The trustees were able to provide direct grants and other assistance and thereby deliver tangible and immediate benefit to the lives of the beneficiaries. Provision of education continued through the activities of the Ohr Emes Primary School which has thrived in the short years since it was established.
Financial review
Financial position
The financial results for the period to 31 March 2022 are shown in the attached financial statements.
Total income was £876,421 and total expenditure was £651,924.
The total funds carried forward were £349,753.
Reserves policy
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary income. The trustees consider that the ideal level of reserves as at 31 March 2022 would be three months of resources expended which equates to approximately £160,000.
The actual free reserves as at 31 March 2022 were £189,860 (2021- £56,441) which is in line with our target figure. In calculating the reserves, the trustees have excluded from total funds, fixed assets and any restricted funds.
The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide for future financial stability and flexibility to help with the growth of the school and to enable the charity to expand its activities.
Future plans
Ohr Emes Limited will continue to expand and develop the activities it provides and the causes it supports which are in line with its objects.
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OHR EMES LTD (REGISTERED NUMBER: 12508816)
REPORT OF THE TRUSTEES for the year ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Ohr Emes is an incorporated registered charity (1193538) governed by its Memorandum and Articles of Association, dated 31 July 2020.
Recruitment and appointment of new trustees
Trustees may be appointed by the existing trustees at any time, either to fill a casual vacancy or as an addition to the existing trustees. Any trustees so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election.
No trustee had any beneficial interest in any contract with the charitable entity during the year.
Potential trustees are invited to informally attend trustee meetings prior to appointment and a comprehensive induction programme is available. Additionally individual trustees may undertake external training in a particular area of their role on the Governing Body.
Risk management
The trustees regularly undertake a review of the major risks to which the charity is exposed, and systems designed to mitigate those risks are considered on an ongoing basis.
The trustees recognise the absolute necessity of ensuring the protection and safety of all those that the charity serves. The charity has developed a safeguarding policy and one of the trustees is responsible for ensuring this policy is adhered to and that safeguarding training is provided to employees and volunteers and that those working within the school undergo enhanced clearance from the Disclosure and Barring Service.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
12508816 (England and Wales)
Registered Charity number
1193538
Registered office
121 Clapton Common London E5 9AB
Trustees
Mrs S Deblinger Mr M Grunfeld Mr C Muller
Independent Examiner
Suda Ratnam FCCA Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
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OHR EMES LTD (REGISTERED NUMBER: 12508816)
REPORT OF THE TRUSTEES for the year ended 31 March 2022
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company 13/06/2022 directors, on ............................................. and signed on the board's behalf by:
........................................................................ Mr C Muller - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OHR EMES LTD
Independent examiner's report to the trustees of Ohr Emes Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
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
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 FCCA which is one of the listed bodies.
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.
Suda Ratnam FCCA Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
13/06/2022 Date: .............................................
Page 4
OHR EMES LTD
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 670,062 Charitable activities 3 Provision of education, relief of poverty and the advancement of the Jewish faith - Total 670,062 EXPENDITURE ON Charitable activities 4 Provision of education, relief of poverty and the advancement of the Jewish faith 445,565 NET INCOME 224,497 Transfers between funds 13 48,925 Net movement in funds 273,422 RECONCILIATION OF FUNDS Total funds brought forward 76,331 TOTAL FUNDS CARRIED FORWARD 349,753 |
Year Ended 31.3.22 Restricted Total fund funds £ £ - 670,062 206,359 206,359 206,359 876,421 206,359 651,924 - 224,497 (48,925) - (48,925) 224,497 48,925 125,256 - 349,753 |
Period 10.3.20 to 31.3.21 Total funds £ 252,361 157,840 410,201 284,945 125,256 - 125,256 - 125,256 |
|---|---|---|
The notes form part of these financial statements
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OHR EMES LTD (REGISTERED NUMBER: 12508816)
BALANCE SHEET
31 March 2022
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 10 159,893 CURRENT ASSETS Debtors 11 53,263 Cash at bank 152,913 206,176 CREDITORS Amounts falling due within one year 12 (16,316) NET CURRENT ASSETS 189,860 TOTAL ASSETS LESS CURRENT LIABILITIES 349,753 NET ASSETS 349,753 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
2022 Total funds £ 159,893 53,263 152,913 206,176 (16,316) 189,860 349,753 349,753 349,753 - 349,753 |
2021 Total funds £ 68,815 57,811 4,445 62,256 (5,815) 56,441 125,256 125,256 76,331 48,925 125,256 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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
-
(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 financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 13/06/2022
............................................. Mr C Muller - Trustee
The notes form part of these financial statements
Page 6
OHR EMES LTD
CASH FLOW STATEMENT for the year ended 31 March 2022
| Year Ended 31.3.22 Notes £ Cash flows from operating activities Cash generated from operations 1 280,812 Net cash provided by operating activities 280,812 Cash flows from investing activities Purchase of tangible fixed assets (132,344) Net cash used in investing activities (132,344) Change in cash and cash equivalents in the reporting period 148,468 Cash and cash equivalents at the beginning of the reporting period 4,445 Cash and cash equivalents at the end of the reporting period 152,913 |
Period 10.3.20 to 31.3.21 £ 90,781 90,781 (86,336) (86,336) 4,445 - 4,445 |
|---|---|
The notes form part of these financial statements
Page 7
OHR EMES LTD
NOTES TO THE CASH FLOW STATEMENT for the year ended 31 March 2022
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Year Ended 31.3.22 £ Net income for the reporting period (as per the Statement of Financial Activities) 224,497 Adjustments for: Depreciation charges 41,266 Decrease/(increase) in debtors 4,548 Increase in creditors 10,501 Net cash provided by operations 280,812 |
Period 10.3.20 to 31.3.21 £ 125,256 17,521 (57,811) 5,815 90,781 |
|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash | At 1.4.21 £ |
At 1.4.21 £ |
Cash flow £ |
At 31.3.22 £ |
|---|---|---|---|---|
| Cash at bank | 4,445 | 148,468 | 152,913 | |
| 4,445 | 148,468 | 152,913 | ||
| Total | 4,445 | 148,468 | 152,913 |
The notes form part of these financial statements
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OHR EMES LTD
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022
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.
Grant income
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that:
(a) the entity will comply with the conditions attached to them; and
(b) the grants will be received.
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.
Charitable activities
Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and costs linked to the strategic management of the charity.
Allocation and apportionment of costs
Any overhead and support costs relating to charitable activities have been apportioned based on usage.
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 - 20% on reducing balance Fixtures and fittings - 25% 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.
continued...
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OHR EMES LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
1. ACCOUNTING POLICIES - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
Donated goods
Donated goods, facilities and services, including volunteers are included at the value to the charity where this can be quantified.
Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material.
2. DONATIONS AND LEGACIES
| Year Ended 31.3.22 £ Donations and contributions 670,062 3. INCOME FROM CHARITABLE ACTIVITIES Year Ended 31.3.22 Activity £ Provision of education, relief of poverty and Grants the advancement of the Jewish faith 206,359 Grants received, included in the above, are as follows: Year Ended 31.3.22 £ Grants from local authorities 206,359 |
Period 10.3.20 to 31.3.21 £ 252,361 Period 10.3.20 to 31.3.21 £ 157,840 Period 10.3.20 to 31.3.21 £ 157,840 |
|---|---|
continued...
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OHR EMES LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
4. CHARITABLE ACTIVITIES COSTS
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Grant|
|funding of|
|activities|Support|
|Direct|(see note|costs (see|
|Costs|5)|note 6)|Totals|
|£|£|£|£|
|Provision of education, relief of poverty|
|and the advancement of the Jewish faith|274,936|262,672|114,316|651,924|
|GRANTS PAYABLE|
|Period|
|10.3.20|
|Year Ended|to|
|31.3.22|31.3.21|
|£|£|
|Provision of education, relief of poverty and the advancement of the Jewish|
|faith|262,672|52,170|
|The total grants paid to institutions during the year was as follows:|
|Period|
|10.3.20|
|Year Ended|to|
|31.3.22|31.3.21|
|£|£|
|Beis Hamedrash Pe’er Meshulem D’Tosh|3,250|-|
|Ezer Viznitz Foundation|-|2,000|
|JCOCI Educational Foundation Ltd|2,200|-|
|-|
|Ohr Emes Building Fund|3,860|
|Toiras Mordche|2,603|12,000|
|-|
|Donations less that £2,000|3,045|
|14,958|14,000|
----- End of picture text -----
5. GRANTS PAYABLE
The total grants paid to individuals in the period were £247,714.
6. SUPPORT COSTS
----- Start of picture text -----
|||||
|---|---|---|---|
|Governance|
|Management|costs|Totals|
|£|£|£|
|Provision of education, relief of poverty and|
|the advancement of the Jewish faith|109,665|4,651|114,316|
----- End of picture text -----
continued...
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OHR EMES LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
----- Start of picture text -----
||||
|---|---|---|
|Period|
|10.3.20|
|Year Ended|to|
|31.3.22|31.3.21|
|£|£|
|Depreciation - owned assets|41,266|17,521|
----- End of picture text -----
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the period ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the period ended 31 March 2021.
9. STAFF COSTS
----- Start of picture text -----
||||
|---|---|---|
|Period|
|10.3.20|
|Year Ended|to|
|31.3.22|31.3.21|
|£|£|
|Wages and salaries|85,773|41,745|
|Social security costs|-|494|
|85,773|42,239|
----- End of picture text -----
The average monthly number of employees during the year was as follows:
----- Start of picture text -----
||||
|---|---|---|
|Period|
|10.3.20|
|Year Ended|to|
|31.3.22|31.3.21|
|Charitable activities|18|6|
----- End of picture text -----
No employees received emoluments in excess of £60,000.
continued...
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OHR EMES LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
10. TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 April 2021 81,266 Additions 115,476 At 31 March 2022 196,742 DEPRECIATION At 1 April 2021 16,253 Charge for year 36,098 At 31 March 2022 52,351 NET BOOK VALUE At 31 March 2022 144,391 At 31 March 2021 65,013 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors and prepayments 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors 13. MOVEMENT IN FUNDS Net movement At 1.4.21 in funds £ £ Unrestricted funds General fund 76,331 224,497 Restricted funds Restricted 48,925 - TOTAL FUNDS 125,256 224,497 |
Fixtures and fittings £ 5,070 16,868 21,938 1,268 5,168 6,436 15,502 3,802 2022 £ 53,263 2022 £ 594 15,722 16,316 Transfers between funds £ 48,925 (48,925) - |
Totals £ 86,336 132,344 218,680 17,521 41,266 58,787 159,893 68,815 2021 £ 57,811 2021 £ 212 5,603 5,815 At 31.3.22 £ 349,753 - 349,753 |
|---|---|---|
continued...
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OHR EMES LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 670,062 Restricted funds Restricted 206,359 TOTAL FUNDS 876,421 Comparatives for movement in funds Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 252,361 Restricted funds Restricted 157,840 TOTAL FUNDS 410,201 |
Resources Movement expended in funds £ £ (445,565) 224,497 (206,359) - (651,924) 224,497 Net movement At in funds 31.3.21 £ £ 76,331 76,331 48,925 48,925 125,256 125,256 Resources Movement expended in funds £ £ (176,030) 76,331 (108,915) 48,925 (284,945) 125,256 |
|---|---|
Restricted funds:
The charity's restricted funds during the year were made up as follows:
Name of fund Description, nature and purpose of fund Local authority grants Grants to assist with the provision of learning support and facilities Unrestricted funds represent funds available to the trustees for the general purposes of the charity.
continued...
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OHR EMES LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
14. CONTINGENT LIABILITIES
There were no contingent liabilities at either the beginning or end of the financial period.
15. CAPITAL COMMITMENTS
At 31 March 2021 the charity had no capital commitments which had been contracted for but not provided in the financial statements.
16. RELATED PARTY DISCLOSURES
The institutions listed in note 5 include charities of which one of the trustees of this charity is also a trustee.
At the balance sheet date, the charity was owed £28,793 (2021 - £56,525) by Ezer Viznitz Foundation, a charity of which one of the trustees of this charity is a trustee. The loan is interest free.
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