Charity number: 1194849
KINUS HASHLUCHIM LUBAVITCH UK
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
KINUS HASHLUCHIM LUBAVITCH UK
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 8 |
KINUS HASHLUCHIM LUBAVITCH UK
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2021
Trustees Yehuda Pink Aaron Lipsey Benzi Sudak Charity registered number 1194849 Principal office 7 Granby Close Solihull B92 7DP Accountants Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB
Page 1
KINUS HASHLUCHIM LUBAVITCH UK
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2021
The Trustees present their annual report together with the financial statements of the Kinus Hashluchim Lubavitch UK for the period 18 June 2021 to 31 December 2021.
Objectives and activities
a. Policies and objectives
This charity was set as a Charitable Incorporated Organistion - Foundation on 18 June 2021 for the promotion of education in England and for the advancement of the Jewish religion.
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)'.
Achievements and performance
a. Review of activities
The charity provides in-service training of Youth Workers, University Chaplains, Rabbis, Teachers, Community Workers and others engaged in community outreach work of the public, incuding awarding to such persons scholarships or grants to further study. A grant of £6,503 was made during the year to assist a Rabbi cover the costs of an operation which had been delayed due to NHS Covid restrictions.
Financial review
a. Reserves policy
In the opinion of the trustees, the funds of the charity are sufficient for its purposes.
Structure, governance and management
a. Constitution
Kinus Hashluchim Lubavitch UK is a registered charity, number 1194849.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees.
Page 2
KINUS HASHLUCHIM LUBAVITCH UK
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2021
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 23 October 2022 and signed on their behalf by:
Yehuda Pink
Page 3
KINUS HASHLUCHIM LUBAVITCH UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2021
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities Other expenditure 5 Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward |
Unrestricted funds Period ended 31 December 2021 £ 8,825 8,825 6,503 585 7,088 1,737 1,737 1,737 |
Total funds Period ended 31 December 2021 £ 8,825 |
|---|---|---|
| 8,825 | ||
| 6,503 585 |
||
| 7,088 | ||
| 1,737 | ||
| 1,737 | ||
| 1,737 |
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 6 to 8 form part of these financial statements.
Page 4
KINUS HASHLUCHIM LUBAVITCH UK
BALANCE SHEET AS AT 31 DECEMBER 2021
| Note Fixed assets Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 6 Unrestricted funds 6 Total funds |
1,737 1,737 |
2021 £ |
|---|---|---|
| - 1,737 |
||
| 1,737 | ||
| 1,737 | ||
| 1,737 | ||
| - 1,737 |
||
| 1,737 |
The financial statements were approved and authorised for issue by the Trustees on 23 October 2022 and signed on their behalf by:
Yehuda Pink
The notes on pages 6 to 8 form part of these financial statements.
Page 5
KINUS HASHLUCHIM LUBAVITCH UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
1. General information
The Charity was established to promote education and in-service training of Youth Workers, University Chaplains, Rabbis, Teachers, Community Workers and others engaged in community outreach work.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Kinus Hashluchim Lubavitch UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Page 6
KINUS HASHLUCHIM LUBAVITCH UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
2. Accounting policies (continued)
2.4 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.5 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Unrestricted funds Period ended 31 December 2021 £ Donations in year 6,791 Donations prior to registration 2,034 8,825 |
Total funds Period ended 31 December 2021 £ 6,791 2,034 |
|---|---|
| 8,825 |
4. Analysis of grants
| Grants to | Total | |
|---|---|---|
| Individuals | funds | |
| Period | Period | |
| ended | ended | |
| 31 | 31 | |
| December | December | |
| 2021 | 2021 | |
| £ | £ | |
| Grant to individual | 6,503 | 6,503 |
Page 7
KINUS HASHLUCHIM LUBAVITCH UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
5. Other expenditure
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| Period | Period | |
| ended | ended | |
| 31 | 31 | |
| December | December | |
| 2021 | 2021 | |
| £ | £ | |
| General expenses | 585 | 585 |
6. Statement of funds
Statement of funds - current period
| Balance at | |||
|---|---|---|---|
| 31 | |||
| December | |||
| Income | Expenditure | 2021 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General Funds - all funds | 8,825 | (7,088) | 1,737 |
Page 8