REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2022
FOR
CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
Company Number:11746003 Charity Number:1195064
De Claron 3a The Vale LONDON NW11 8SB
CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2022
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Trustees | 2 |
| Report of the Accountants | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Fianancial Statements | 7 |
CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
COMPANY INFORMATION
for the Year Ended 31 January 2022
DIRECTORS: Joel Friedman Yidele Herzka Ezekiel Weiss SECRETARY: Joel Friedman REGISTERED OFFICE: 38 George Close Canvey Island ESSEX SS8 9PU REGISTERED NUMBER: 11746003 (England and Wales) CHARITY NUMBER: 1195064 ACCOUNTANTS: De Claron Ltd. 3A The Vale London NW11 8SB
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CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
REPORT OF THE TRUSTEES
for the Year Ended 31 January 2022
The directors present their report with the financial statements of the company for the year ended 31 January 2022 in accordance with the Companies Act 2006. The directors confirm that the annual report and the financial statements of the company comply with current statutory requirements, the requirements of the company's governing documents and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in January 2019.
CONSTITUTION POLICIES AND OBJECTIVES
Canvey Jewish Trust Ltd is a registered with the Charity Commissioners (No:1195064) and is constituted as a company with Companies House (No:11746003).
The principal objects of the charitable company are:
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to develop the capacity and skills of the members of the socially and economically disadvantaged Orthodox Jewish Community of Canvey Island, Essex
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the advancement of education and the prevention or relief of poverty for the public benefit through the making of grants to registered charities and individuals primarily but not exclusively in and around Canvey Island, Essex
There have been no changes in the objectives since the last annual report.
REVIEW OF ACTIVITIES
Staff
The charity is currently staffed by three trustees. All work done by these individuals is on a voluntary basis.
Funding and Activities
Canvey Jewish Trust Ltd is financed by charitable trusts and private contributions. The charity provides donations in support of the above charitable objects.
The Financial Statements of the charity are subject to an annual independent examiner's report. The Financial Statements and annual report for the financial year ended January 31, 2022 have been produced by De Claron Ltd, the accountant acting on behalf of the charity.
Future Plans
Canvey Jewish Trust Ltd will continue seeking funding from charitable trust and private donations to help develop its services further.
Membership
Canvey Jewish Trust Ltdis currently not a member of any professional body or umbrella organisation.
The directors are satisfied with the results and activities of the charitable company for the year and do not anticipate any significant changes in the forthcoming year.
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CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
REPORT OF THE TRUSTEES
for the Year Ended 31 January 2022
RESERVE POLICY
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months of unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs and to respond to unexpected contingencies.
RISK MANAGEMENT
The directors have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems are in place to mitigate their exposure to the major risks.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Company law requires the directors to prepare financial statements for each financial year which gave a true and fair view of the state of the company and of the profit and loss of the company for that period. In preparing those financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and irregularities.
AUDITORS
There is no audit requirement for the charity. An independent examiner’s report will be prepared by De Claron Ltd.
ON BEHALF OF THE BOARD SIGNED:
Director: J. Freidman
Date 23 November 2022
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
We report on the accounts of the Charity for the year ended 31 January 2022, which are set out on pages 5 to 8.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under the Charities Act 2011 (the 2011 Act) and that an independent examination is needed
It is our responsibility to:
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examine the accounts under the 2011 Act;
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to follow the procedures laid down in the General Directions given by the Charity Commissioners under the 2011 Act; and - to state whether particular matters have come to our attention.
Basis of independent examiner’s report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with our examination, no matter has come to our attention: (1) which gives us reasonable cause to believe that in any material
-
respect the requirements - to keep accounting records in accordance with the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
De Claron Ltd.
3a The Vale LONDON NW11 8SB
Date 23 November 2022
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CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 January 2022
| INCOMING RESOURCES DONATIONS RECEIVED GRANTS OTHER INCOME O/H CONTRIBUTIONS INTEREST RECEIVED TOTAL INCOMING RESOURCES CHARITABLE OBJECTIVES CHARITABLE DONATIONS ADMINISTRATION BANK CHARGES & INTEREST DEPRECIATION LEGAL & ADMINISTRATIVE EXP LOAN INTEREST PREMISES EXPENSES TELEPHONE & IT Total Resources Expended NET MOVEMENTS IN FUNDS FOR THE Yr FUNDS MOVEMENT for the YEAR FUNDS CARRIED FORWARD |
£ £ Restricted Unrestricted Funds Funds 16,193 15,000 - 16,193 15,000 31,193 12,473 12,473 49 250 244 594 12,380 486 12,473 14,003 3,721 997 4,718 24,000 31.01.22 |
£ £ Restricted Unrestricted Funds Funds 24,000 - - 24,000 - 24,000 - - - - - - - - - - 24,000 - 24,000 24,000 31.01.21 |
|---|---|---|
This page forms part of the statutory financial statements
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CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
BALANCE SHEET
for the Year Ended 31 January 2022
| Notes FIXED ASSETS: 3 Tangible Assets CURRENT ASSETS: Debtors 4 Cash at bank and in hand CREDITORS:Amounts falling 5 due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES: LONG TERM LIABILITIES TOTAL ASSETS LESS TOTAL LIABILITIES FUND ACCOUNT TOTAL FUNDS |
£ £ 2,900 56,866 8,412 65,278 39,460 25,818 28,718 - 28,718 28,718 28,718 31.01.22 |
£ £ 2,500 63,647 2,853 66,500 45,000 21,500 24,000 - 24,000 24,000 24,000 31.01.21 |
|---|---|---|
The company is entitled to exemption from audit under Section 477(2) of the Companies Act 2006 for the year ended 31st January 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2022 in accordance with Section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year, and its profit and loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and with the Financial Reporting Standards for Smaller Entitities (effective January 2019).
ON BEHALF OF THE BOARD
Director
J. Freidman Approved by the Board on
23 November 2022
The notes form part of these financial statements
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CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2022
ACCOUNTING POLICIES
Basis of preparation of financial statements
The financial statements have been prepared under the historial cost convention. These financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" amended in January 2019, Companies Act 2006 requirements and applicable accounting standards.
Company status
The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
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 company and which have not been designated for other purposes.
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Income tax recoverable in relation to donations received under Gift Aid or Deed of Covenant is recognised at the time of receipt.
Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Management and administration costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Cash flow
The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small charitable company.
Tangible fixed assets and depreciation
Fixed assets for the financial period is freehold property which does not depreciate.
Deferred taxation
The accounting policy in respect of deferred tax has been charged to reflect the requirements of Financial Reporting Standards No.19:Deferred Tax. No prior year adjustment has been made in the accounts on the grounds that the effect is immaterial.
Provision is made in full for all taxation deferred in respect of timing differences that have originated but not reversed by the balance sheet date, except for timing differences arising on revaluations of fixed assets which are not intended to be sold and gains on disposal of fixed assets which will be rolled over into replacement assets.
Deferred tax assets are recognized to the extent that it is more likely than not that they will be recovered.
Going concern
The accounts have been prepared on a going concern basis as the trustees consider that the company will continue operating for a period of at least twelve months from the date of approval of these accounts.
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CANVEY JEWISH TRUST LTD LIMITED (BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2022
2. NET INCOMING RESOURCES
During the year no trustees received any remuneration, benefits in kind or reimbursement of expenses.
3. TANGIBLE FIXED ASSETS
No depreciation was incurred for freehold property for the financial period under reivew. However, there were property improvements.
| COST: At 1st February 2021 Additions At 31st January 2022 DEPRECIATION: At 1st February 2021 Charge for year At 31st January 2022 NET BOOK VALUE: At 31st January 2021 At 31st January 2022 4. DEBTORS: AMOUNT FALLING DUE WITHIN ONE YEAR Debtors Loan Debtors Accruals 5. CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR Other Creditors Trade Creditors Loan Creditors |
31.01.22 £ - 56,866 - 56,866 31.01.22 £ - - 39,460 39,460 |
Property 2,500 650 3,150 - 250 250 2,500 2,900 31.01.21 £ - 63,647 - 63,647 31.01.21 £ - - 45,000 45,000 |
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