Charity number: 1195631
CHABAD FRANCOPHONE MAIDA VALE
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CHABAD FRANCOPHONE MAIDA VALE
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
CHABAD FRANCOPHONE MAIDA VALE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees Chabad Lubavitch UK Trustees Limited (appointed 28 May 2024) Roman Sosnovskyi (appointed 28 May 2024) Reuven Garbarchik Aaron Tiefenbrun
Charity registered number 1195631 Principal office 1B Lauderdale Road London W9 1LT Accountants Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB
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CHABAD FRANCOPHONE MAIDA VALE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2024 to 31 December 2024.
Objectives and activities
Policies and objectives
This charity was set as a Charitable Incorporated Organistion - Foundation on 25 August 2021 to advance the orthodox Jewish religion by providing facilities for prayer, religious study and communal activities at its premises in Maida Vale, Westminster, London, and to fosters the pastoral care its members.
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
Main achievements of the Charity
In the year £153,657 was raised from charity campaigns and general fundraising activities and £34,829 was received in Gift Aid. These funds were used by the charity to pay rent, to enhance the premises in Maida Vale and to provide its ongoing facilities for prayer, religious study and communal activities. Additionally, grants of £17,475 were received from the Community Security Trust in order to install equipment providing necessary security to the building.
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 were £83,032.
Structure, governance and management
Constitution
Chabad Francophone Maida Vale is a registered charity, number 1195631, and is constituted under a Trust deed.
Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
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CHABAD FRANCOPHONE MAIDA VALE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
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 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 6 October 2025 and signed on their behalf by:
Roman Sosnovskyi Trustee
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CHABAD FRANCOPHONE MAIDA VALE
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examiner's report to the Trustees of Chabad Francophone Maida Vale ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Signed:
Dated: 6 October 2025
D Wolffe FCCA
34 Braydon Road London N16 6QB
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CHABAD FRANCOPHONE MAIDA VALE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Other expenditure 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 17,475 17,475 - 17,475 17,475 - - - - |
Unrestricted funds 2024 £ 191,486 191,486 211,863 17,167 229,030 (37,544) 120,576 (37,544) 83,032 |
Total funds 2024 £ 208,961 208,961 211,863 34,642 246,505 (37,544) 120,576 (37,544) 83,032 |
Total funds 2023 £ 154,133 |
|---|---|---|---|---|
| 154,133 | ||||
| 26,201 7,356 |
||||
| 33,557 | ||||
| 120,576 | ||||
| - 120,576 |
||||
| 120,576 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 12 form part of these financial statements.
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CHABAD FRANCOPHONE MAIDA VALE
BALANCE SHEET AS AT 31 DECEMBER 2024
| Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
43,500 12,150 55,650 (900) |
2024 £ 28,282 28,282 54,750 83,032 83,032 83,032 - 83,032 83,032 |
44,300 74,001 118,301 (300) |
2023 £ 2,575 |
|---|---|---|---|---|
| 2,575 118,001 |
||||
| 120,576 | ||||
| 120,576 | ||||
| 120,576 | ||||
| - 120,576 |
||||
| 120,576 |
The financial statements were approved and authorised for issue by the Trustees on 06 October 2025 and signed on their behalf by:
Chabad Lubavitch UK Trustees Limited
Trustee
The notes on pages 7 to 12 form part of these financial statements.
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CHABAD FRANCOPHONE MAIDA VALE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. General information
This charity was established to advance the to orthodox Jewish religion by providing facilities for prayer, religious study and communal activities at its premises in Maida Vale, Westminster, London, and to fosters the pastoral care its members.
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.
Chabad Francophone Maida Vale 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.
2.3 Expenditure
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
2.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Fixtures and fittings - 10%
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CHABAD FRANCOPHONE MAIDA VALE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
2. Accounting policies (continued)
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 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.
2.7 Liabilities and provisions
Liabilities 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.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 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.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
3. Income from donations and legacies
| Donations Gift Aid Grants |
Restricted funds 2024 Unrestricted funds 2024 £ £ - 153,657 - 37,829 17,475 - 17,475 191,486 |
Total funds 2024 £ 153,657 37,829 17,475 |
|---|---|---|
| 208,961 |
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CHABAD FRANCOPHONE MAIDA VALE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. Income from donations and legacies (continued)
| Donations Grants |
Unrestricted funds 2023 £ 133,533 20,600 154,133 |
Total funds 2023 £ 133,533 20,600 |
|---|---|---|
| 154,133 |
4. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2024 £ Rent payable 60,000 Insurance 1,503 General expenses 43,025 Telephone 1,426 Donations paid 3,095 Repairs and maintenance 102,814 211,863 Unrestricted funds 2023 £ Rent payable 14,348 Insurance 1,948 General expenses 4,550 Telephone 195 Donations paid 5,160 26,201 |
Total 2024 £ 60,000 1,503 43,025 1,426 3,095 102,814 |
|---|---|
| 211,863 | |
| Total 2023 £ 14,348 1,948 4,550 195 5,160 |
|
| 26,201 |
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CHABAD FRANCOPHONE MAIDA VALE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. Other expenditure
| Professional fees Accountancy fee Independent examiners fee Depreciation of furniture Security Professional fees Accountancy fee Independent examiners fee Depreciation of furniture |
Restricted funds 2024 Unrestricted funds 2024 £ £ - 5,330 - 450 - 400 - 3,174 17,475 7,813 17,475 17,167 Unrestricted funds 2023 £ 6,770 150 150 286 7,356 |
Total funds 2024 £ 5,330 450 400 3,174 25,288 |
|---|---|---|
| 34,642 | ||
| Total funds 2023 £ 6,770 150 150 286 |
||
| 7,356 |
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL) .
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CHABAD FRANCOPHONE MAIDA VALE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 7. Tangible fixed assets Cost or valuation At 1 January 2024 Additions At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Fixtures and fittings £ 2,861 28,881 |
|---|---|
| 31,742 | |
| 286 3,174 |
|
| 3,460 | |
| 28,282 | |
| 2,575 |
| 8. Debtors Due within one year Other debtors Prepayments and accrued income 9. Creditors: Amounts falling due within one year Accruals and deferred income |
2024 £ 28,500 15,000 43,500 2024 £ 900 |
2023 £ 28,500 15,800 44,300 2023 £ 300 |
|---|---|---|
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CHABAD FRANCOPHONE MAIDA VALE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Tangible fixed assets 28,282 Current assets 55,650 Creditors due within one year (900) Total 83,032 |
Total funds 2024 £ 28,282 55,650 (900) 83,032 |
|---|---|
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 2,575 118,300 (300) 120,575 |
Total funds 2023 £ 2,575 118,300 (300) 120,575 |
|---|---|---|
11. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2024.
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