REGISTERED COMPANY NUMBER: 13089177 (England and Wales) REGISTERED CHARITY NUMBER: 1195056
CANVEY BRIGHT START LTD (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
CANVEY BRIGHT START LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
CANVEY BRIGHT START LTD
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023
| TRUSTEES | Y Deutsch |
|---|---|
| E Elyovics | |
| A Krausz | |
| REGISTERED OFFICE | 12 Hardys Way |
| Canvey Island | |
| Essex | |
| SS8 9PT | |
| REGISTERED COMPANY | 13089177 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 1195056 |
| NUMBER | |
| INDEPENDENT EXAMINER | Sugarwhite Meyer Accountants Ltd |
| First Floor | |
| 94 Stamford Hill | |
| London | |
| N16 6XS | |
| BANKERS | National Westminster Bank plc |
| 63 High Street | |
| Wickford | |
| Essex | |
| SS12 9AH |
Page 1
CANVEY BRIGHT START LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
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 December 2023. 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).
REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are:
1) The advancement of Orthodox Jewish religious education.
2) To provide or support the provision of facilities and programmes for children and young people for their recreation and other leisure-time occupation. With the aim of developing their skills, to enhance their employment prospects and to assist them in growing to full maturity as individuals and as members of society and so that their conditions of life may improve.
3) The relief of poverty, hardship and distress among persons of the Jewish faith.
Public benefit
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Donations received decreased by 20% in comparison with the previous year, with a 32% decrease in overall charitable expenditure, the charity posted a small surplus for the year (2022: deficit).
FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end stood at £12,090 (2022: £9,339).
FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 18th December 2020.
Recruitment and appointment of new trustees
It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
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.
The trustees have confirmed that there are no major risks to which the charity is exposed.
Page 2
CANVEY BRIGHT START LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 24 September 2024 and signed on its behalf by:
Y Deutsch - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CANVEY BRIGHT START LTD
Independent examiner's report to the trustees of Canvey Bright Start Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
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
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.
E Meyer FCA BSc
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
13 September 2024
Page 4
CANVEY BRIGHT START LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 140,879 EXPENDITURE ON Raising funds 2 2,204 Charitable activities 3 Educational and social activities 104,270 Grantmaking 30,237 Support costs 1,417 Total 138,128 NET INCOME/(EXPENDITURE) 2,751 RECONCILIATION OF FUNDS Total funds brought forward 9,339 TOTAL FUNDS CARRIED FORWARD 12,090 |
2022 Total funds £ 175,567 6,690 168,762 28,158 1,042 204,652 (29,085) 38,424 9,339 |
|---|---|
The notes form part of these financial statements
Page 5
CANVEY BRIGHT START LTD (REGISTERED NUMBER: 13089177)
BALANCE SHEET 31 DECEMBER 2023
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds: General fund TOTAL FUNDS |
2023 Total funds £ 8,886 4,830 (1,626) 3,204 12,090 12,090 12,090 12,090 |
2022 Total funds £ 6,854 3,146 (661) 2,485 9,339 9,339 9,339 9,339 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 24 September 2024 and were signed on its behalf by:
Y Deutsch - Trustee
The notes form part of these financial statements
Page 6
CANVEY BRIGHT START LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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
Donations are accounted for when received. All other income is recognised on a receivable basis.
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.
Charitable expenditure comprises 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.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 15% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
Page 7
CANVEY BRIGHT START LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
2. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 2023 | 2022 | |
| Unrestricted | Total | |
| funds | funds | |
| £ | £ | |
| Fundraising | 2,204 | 6,690 |
3. CHARITABLE ACTIVITIES COSTS
| 3. CHARITABLE ACTIVITIES COSTS |
|||
|---|---|---|---|
| Grant funding of activities Direct (see note Costs 4) £ £ Educational and social activities 104,270 - Grantmaking - 30,237 Support costs - - 104,270 30,237 4. GRANTS PAYABLE Grantmaking The total grants paid to institutions during the year was as follows: Advancement of religion Advancement of education Relief of poverty Social welfare Mesifta Talmudical College Mesibas Mereim Others below £3,000 The total grants paid to individuals during the year was as follows: Relief of poverty |
Support costs (see note 5) £ - - 1,417 1,417 2023 £ 30,237 2023 £ 632 13,480 12,475 3,150 29,737 12,480 9,960 7,297 29,737 2023 £ 500 |
Totals £ 104,270 30,237 1,417 |
|
| 135,924 | |||
| 2022 £ 28,158 |
|||
| 2022 £ 28,158 - - - |
|||
| 28,158 | |||
| 2022 £ - |
Page 8
CANVEY BRIGHT START LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
5. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Support costs | 110 | 1,307 | 1,417 |
| Support costs, included in the above, are as follows: | |||
| Governance costs | |||
| 2023 | 2022 | ||
| Support | Total | ||
| costs | activities | ||
| £ | £ | ||
| Independent examiner's fee | 540 | 330 | |
| Independent examiner's other fees | 540 | 330 | |
| General expenses | 227 | - | |
| Legal and professional fees | - | 382 | |
| 1,307 | 1,042 | ||
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation - owned assets | 1,568 | 1,209 |
6. NET INCOME/(EXPENDITURE)
7. TRUSTEES' REMUNERATION AND BENEFITS
Mr E Elyovics, a trustee, was employed by the charity and was remunerated £4,239 (2022: £3,891).
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Teaching staff Office staff |
2023 4 2 6 |
2022 4 2 |
|---|---|---|
| 6 |
No employees received emoluments in excess of £60,000.
Page 9
CANVEY BRIGHT START LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
9. TANGIBLE FIXED ASSETS
| 9. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Fixtures | |||||
| and | |||||
| fittings | |||||
| £ | |||||
| COST | |||||
| At 1 January 2023 | 9,486 | ||||
| Additions | 3,600 | ||||
| At 31 December 2023 | 13,086 | ||||
| DEPRECIATION | |||||
| At 1 January 2023 | 2,632 | ||||
| Charge for year | 1,568 | ||||
| At 31 December 2023 | 4,200 | ||||
| NET BOOK VALUE | |||||
| At 31 December 2023 | 8,886 | ||||
| At 31 December 2022 | 6,854 | ||||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Other creditors | 546 | - | |||
| Accruals and deferred income | 1,080 | 661 | |||
| 1,626 | 661 | ||||
| 11. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At | 1.1.23 | in funds | 31.12.23 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 9,339 | 2,751 | 12,090 | ||
| TOTAL FUNDS | 9,339 | 2,751 | 12,090 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 140,879 | (138,128) | 2,751 | ||
| TOTAL FUNDS | 140,879 | (138,128) | 2,751 |
Page 10
CANVEY BRIGHT START LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.22 | in funds | 31.12.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 38,424 |
(29,085) | 9,339 | |
| TOTAL FUNDS 38,424 |
(29,085) | 9,339 | |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 175,567 |
(204,652) | (29,085) | |
| TOTAL FUNDS 175,567 |
(204,652) | (29,085) |
12. RELATED PARTY DISCLOSURES
The charity was in receipt of a loan in the sum of £2,000 from a trustee, this was repaid in full during the year.
A close relative of a trustee received remuneration of £8,479 (2022: £7,782).
Other related party information is shown in Note 7.
Page 11