2022-12-31-accounts

BISHNAT 2021

REPORT AND FINANCIAL STATEMENTS

25 JANUARY 2022 TO 31 DECEMBER 2022

BISHNAT 2021

I N D E X

Period from 25 January 2022 to 31 December 2022

	Page
General information	2
Trustees’ annual report	3
Independent examiner’s report	5
Statement of financial activities	6
(including income and expenditure account)
Balance sheet	7
Notes to the financial statements	8

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BISHNAT 2021

G E N E R A L I N F O R M A T I O N

Period from 25 January 2022 to 31 December 2022

Trustees	H D Nathanson
	D Bearman
	N Nevies
Settlor	H D Nathanson
Address	7th Floor South Block
	55 Baker Street
	London
	W1U 8EW
Independent Examiner	D C Mellor ACA CTA
	Dixon Wilson
	22 Chancery Lane
	London
	WC2A 1LS
Charity no	1197647
Bankers	Coutts & Co
	440 Strand
	London
	WC2R 0QS

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T R U S T E E S ’ A N N U A L R E P O R T

BISHNAT 2021

Period from 25 January 2022 to 31 December 2022

The trustees submit the annual report together with the accounts of the charity for the period from 25 January 2022 to 31 December 2022. The accounts comply with current statutory requirements and are in the format prescribed by 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 (FRS102) (effective 1 January 2019). The report should be read in conjunction with the general information provided on page 2.

Administrative information

Bishnat 2021 is a Charitable Incorporated Organisation (CIO) registered on 25 January 2022 with the registered charity number 1197647.

Structure, governance and management

The trustees who have served in the period are those shown on page 2.

New trustees are appointed in accordance with the constitution and a minimum of three trustees are required at all times. The maximum number of trustees is four. Upon being appointed, trustees receive a copy of the constitution and the latest Annual Report and Accounts.

Trustees are responsible for making the decisions of the charity. Decisions may be taken either at a meeting or by resolution in writing agreed by a majority of all charity trustees. Decisions can only be made at meetings where there is quorum. The quorum is two charity trustees, or the number nearest to one third of total number of charity trustees, whichever is greater. A charity trustee shall not be counted in the quorum present when any decision is made about a matter upon which he or she is not entitled to vote.

Objectives and activities

Our primary objective is to use musical performances to inspire Jewish people and foster a sense of pride and connection to their unique heritage and community. In addition, we aim to create a deep appreciation and understanding of Jewish music in all of its genres. Musical appreciation is an important cornerstone of our culture, and as well as being a joyous experience, we aim for our performances to be educational and enhance the audience’s sense of mental wellbeing.

Public benefit

The trustees, having regard to the Public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same Act.

Organisation

The charity's affairs are carried on by its trustees, who meet as necessary for this purpose.

Achievements and performance

During the period the charity held two successful concerts in November 2022, in London and Leeds. The concerts were sold out, selling over 1,200 tickets and ticket sales amounted to £14,942.

These concerts introduced guests to Jewish music, enabling them to enjoy and understand the stories behind the music, their historical and community value. The concerts brought guests into synagogues who had not visited or been in a crowd since lockdown and Covid19.

They gave guests a sense of wellbeing and communal spirit which they had lost over the last few years. People left singing and feeling stronger and more connected to their community. The feedback was extremely positive and guests enjoyed the community spirit which gave them the sense of wellbeing that the charity is working towards.

The charity received donations in the year of £85,000 to help cover the costs of the event which were £87,296.

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BISHNAT 2021 TRUSTE ES Period fytsm 25 January 2022 to 31 December 2022 Music is l(nowD to support wellbein& 3ld menthl health and build a sense of communi¢y. Our work in the community 15 helping people to appreciate and understand }ewlsh music, Its history and meaning. The (rustee5 are hosting two concerts in November 2023 and hope co cover more of the cosi frorn tlcket sales. Financlal review and vlslt management At the year end the charity had unres¢rricted lunds in defiat of £8.171. UnrestricLed funds are used to finance the chariLy'5 charltable #ctlvities and 2S it is the first year a small defKit arose at the year end. Donitlons of £6,000 were received in january 2023 tSclot prices have been increased to cover addi¢ioTral costs. The trustees malnraln a level of resetves that ts sufficient to cover che cosis of ￿nning che charlty for the forthcomtng year. It is the intencion of the trustee5 that events wlll be funded out of ticket sales and other fundralsing Inlciatlves. Thé major rislis to whlch the charity ts exposed, as ideTrtified by the trustee5, have been revlewed 2nd systems have been established to rnltlDte those r￿ks. Statement of Trustees, respon4bllldes The Trustee5 #re resptsnslblÉ for prep2rlng the Trustees, Annual Report and the financial 5tarements In accordance with appllcable Iaw and United Kingdom Accountlng Standards (United Kingdom Gener211y Accepted Accoun￿￿8 Pra¢¢l¢el. The law applicble to charities it) England W21cs rcqulrcs the trustees to prepare financial 5taLement5 for each financial year which g¢ve a true and fair vsew ol the state of affairs of the tharlty and of the incoming resources and 3pplication of resources of the charity for that year. In preparing these finnti41 xtatÈments. che tt2tstÉes are required to.. select witable aceountlng policies 2nd then apply them consistsncty- observe the methods and principles (n the applicable Charities SORP., makp judgements and accounting estlmatss that are reasonable and prudent., state whether appli<ablÉ attounong standards have been followed, subject to any departures disc105ed and xpEained in the financial statements., and prepare the linan¢lal st•cements on the golng concern basls unless It Is In)pproprlate to presume that the charity will Con￿nUe In bu51ness. The Trustees are re5POn5ible for keeplng 2ccounting records that disclose with reasonable accuracy the financlal po&ltion ol the charlty and en8ble them to ensure that the flnanclal st2tements comply with the Charities ACE 2011, the Rpplicable Ch&ritle$ (Accounts and Report51 Regulations the provÈstons of the Trust Dted. They are aLso responsible for safegu3rding the assets of the charlty and hence for taking reasonable steps for the prevention and detÈctiort of fraud and other irregularities. On behalf e Trustees anson 19 Oelober 2023

BISHNAT 2021

I N D E P E N D E N T E X A M I N E R ’ S R E P O R T

Period from 25 January 2022 to 31 December 2022

Independent examiner’s report to the trustees of Bishnat 2021

I report to the trustees on my examination of the accounts of the Trust for the period from 25 January 2022 to 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this period under charity law and that an independent examination is needed.

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters than an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. 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; or

4. 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 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.

D C MELLOR ACA CTA Dixon Wilson 22 Chancery Lane London WC2A 1LS

31 October 2023

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BISHNAT 2021

S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S

Period from 25 January 2022 to 31 December 2022

			Unrestricted
			Funds
			25 January 2022
			to
		Note	31 December 2022
			£
Incoming from:
Donations and legacies			85,000
Charitable activities			14,942
Total income			99,942
Expenditure on:
Charitable activities	2		108,113
Total expenditure			108,113
Net (expenditure)/income			(8,171)
Reconciliation of funds:
Funds brought forward			-
Funds carried forward			(8,171)

The Statement of Financial Activities includes all gains and losses for the period. All income and expenditure derives from continuing activities.

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BISHNAT 2021 Charity number., 1197647 BALAN C E SH EET At 31 December 2022 Unrestricted Funds 2022 Note Current &%sets Cash ai banlc alld In hand 4.057 4.057 Creditors: amounts falling due within one year NÈt current assets 112,228) Total assets less cuvtrtrtt Ilabllltles The funds of the chavlty: Vnrestric￿d funds Total unve$trlcted funds (page 6) The accounts on pages 6 to 9 ￿re approved by the Trustees on behalf by. 19 October 2023 8nd were slgned on l¢s Nathanson Esq

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

BISHNAT 2021

Period from 25 January 2022 to 31 December 2022

1. Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (1 January 2019) (FRS 102) and the Charities Act 2011.

The financial statements are presented in Sterling and rounded to the nearest £.

The Trust constitutes a public benefit entity as defined by FRS 102.

Income recognition

Income from donations is recognised once the charity has received entitlement to a donation, the donation is probable and within the control of the charity, and the amount of income receivable can be measured reliably.

Income from ticket sales is recognised once the performance has been conducted and is recognised net of any discounts offered.

Expenditure recognition

Expenditure is recognised in the financial statements when a specific commitment has been made to the recipient and the charity has retained no discretion to terminate, and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes the costs of performances undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Cash at bank and in hand

Cash at bank and cash 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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets or financial liabilities. The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Financial instruments that are basic debt instruments are initially recognised at their transaction price and subsequently at amortised cost.

Going concern

The accounts have been prepared on a going concern basis as the trustees consider that there are no material uncertainties about the trust’s ability to continue as a going concern.

Taxation

Bishnat 2021 is a registered charity and as such is exempt from tax on its income to the extent this is applied for charitable purposes (under sections 521 to 536 of the Income tax Act 2007).

Foreign currency transactions

Transactions in foreign currencies are recorded at the rate of exchange ruling at the date of transaction. Exchange rate differences are taken to the statement of financial activities.

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BISHNAT 2021

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Period from 25 January 2022 to 31 December 2022

2. Analysis of charitable expenditure	25 January 2022
	to
	31 December 2022
	£
Charitable Events Expenses	87,296
Governance costs (note 5)	6,004
Support costs (note 5)	14,813
	108,113

3. Analysis of governance and support costs

		25 January 2022 to 31 December 2022	25 January 2022 to 31 December 2022	25 January 2022 to 31 December 2022
	Governance	Support	Total	Basis of
	costs	costs	2022	apportionment
	£	£	£
Accountancy fees	2,304	-	2,304	Governance
Bank charges and interest	316	-	316	Governance
Insurance	560	829	1,389	Purpose
Independent examiner fees	1,734	-	1,734	Governance
Consultancy fees	-	5,280	5,280	Allocated on time
Administrative support	-	7,200	7,200	Allocated on time
Professional fees	1,090	650	1,740	Purpose
FX Gains/Losses	-	854	854	In line with cost
	6,004	14,813	20,817

4. Creditors: amounts falling due within one year Trade creditors Accruals	2022 £ 8,190 4,038
	12,228

5. Related party transactions

During the year Firefly Capital Limited, a company controlled by the settlor, H D Nathanson, provided management services to the trustees totalling £7,200. At the balance sheet date the amount owed to Firefly Capital Limited was £7,200.

The trustees received donations from a charity which is under the common control of two trustees of £85,000. The donations were free from restrictions.

6. Trustees’ remuneration

No trustees received remuneration or reimbursement of expenses during the period. The Trust has no employees.

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