REGISTERED CHARITY NUMBER: 237191
Report of the Trustees and
Financial Statements for the Year Ended 31 May 2023
for
The Hannah Levy Home
TC Group 10 Bridge Street Christchurch Dorset BH23 1EF
The Hannah Levy Home
Contents of the Financial Statements for the Year Ended 31 May 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 5 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Statement of Financial Position | 8 |
| Statement of Cash Flows | 9 |
| Notes to the Statement of Cash Flows | 10 |
| Notes to the Financial Statements | 11 to 17 |
The Hannah Levy Home
Reference and Administrative Details for the Year Ended 31 May 2023
Trustees Mrs S Feld Mrs L Rossano Mr L Williams Principal address Hamilton Court House 1-3 Alum Chine Road Bournemouth Dorset BH4 8DT Registered charity number 237191 Accountants TC Group 10 Bridge Street Christchurch Dorset BH23 1EF Lawyers Solomons Solicitors Hamilton Court House 1-3 Alum Chine Road Bournemouth Dorset BH4 8DT
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The Hannah Levy Home
Report of the Trustees for the Year Ended 31 May 2023
The trustees present their report with the financial statements of the charity for the year ended 31 May 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).
Objectives and activities
Objectives and aims
The objects of the charity were to establish a home in Bournemouth for elderly persons (whilst priority is given to Jewish persons and persons resident in Bristol).
To achieve these objectives the Trust has historically operated a registered Care Home at 15 Poole Road, Bournemouth, BH2 5QR, which provided residential care to persons requiring it. The Hannah Levy Home was the only Jewish care home in the region, with no likelihood of any other organisation providing an alternative home.
On 30 January 2021, the care home closed following the detrimental impact of the Covid pandemic on the operation of the home. The fulfilment of the charitable objectives have been passed to the newly incorporated charity, Hannah Levy House Trust.
Significant activities
During the year the sale of the charity’s property was completed realising funds of £540,000 before expenses.
Following the creation of a new charity, Hannah Levy House Trust, and the completion of the sale of the home, the trustees agreed in their meeting on 3 March 2023 to transfer £500,000 of the capital to the new Charity. As at the balance sheet date 31 May 2023, £70,000 of this sum has been transferred leaving a balance of £430,000 which is included in creditors.
Subsequent to the balance sheet date the remaining funds were transferred.
Public benefit
Historically in planning our activities, we kept in mind the Charity Commission's guidance on public benefit.
The main objective has been the provision of a care home in Bournemouth for elderly Jewish persons, also extended to all members of the community.
The focus of our activities has been the provision of care to elderly Jewish persons through a care home and kosher meals on wheels. The Hannah Levy Home looked after new residents financed at local social service rates, and attempted to makeup the shortfall in fees by way of top ups.
In recent years there had been an excess in the cost of providing care over the income received, a situation exacerbated by COVID, which ultimately lead to the closure of the home in January 2021.
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The Hannah Levy Home
Report of the Trustees for the Year Ended 31 May 2023
Achievement and performance Charitable activities
Principal Activities of the Year
As detailed above, the Care Home closed in January 2021, since when the Trustees have been engaged in activities relating to the sale of the charity’s property. The charity has continued to incur expenditure associated to the management and security of the property, and also other costs such as general rates applicable to empty properties.
The chartable objectives have, following the sale of the home, been passed to a new charity, Hannah Levy House Trust.
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The Hannah Levy Home
Report of the Trustees for the Year Ended 31 May 2023
Financial review
Financial position
Income for the year (including donations, legacies, investment income and interest) amounted to £53,120, and expenditure amounted to £36,100, leading to a surplus of £17,020 before charitable donations, including monies to be transferred to the new charity.
Financial review
Reserves policy
At 31 May 2023 the charity held total reserves of £44,270, compared to £531,750 at the 31 May 2022. The reduction being as a result of the transfer of £500,000 of the capital account to Hannah Levy House Trust.
The Trustees are continuing to hold the balance of the general funds so as to ensure there are sufficient cash reserves to cover any unforeseen costs. This policy will be reviewed when considered appropriate.
Structure, governance and management
Governing document
The Trust is constituted under a will proved on 5 May 1954 and is a registered charity, number 237191.
Recruitment and appointment of new trustees
The power of appointment of new Trustees is vested in existing Trustees, and since original formation, new or replacement Trustees have been appointed in this way. The Trustees have historically met monthly and review all aspects of running the charity at each meeting although following the transfer the majority of the capital, meetings will in future be held as and when necessary.
Induction and training of new trustees
Trustees have historically been given training on an ongoing basis at Board meetings.
Risk management
Historically the main risks to the charity were a shortage in working capital to operate and its inability to repair the home when necessary. The Trustees have taken a cautious approach to transfer the charity’s capital to the new charity so as to ensure there are sufficient funds to cover any unforeseen costs that may arise following the closure of the home and the sale of the property.
Events since the end of the year
As detailed above, following the sale of the home the Trustees agreed to transfer £500,000 of the charity’s capital to the new charity, a process that was competed after the year end.
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The Hannah Levy Home
Report of the Trustees
for the Year Ended 31 May 2023
Statement of trustees' responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those 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 in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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 board of trustees on 14 August 2023 and signed on its behalf by:
Mrs S Feld - Trustee
Page 5
Independent Examiner’s Report to the Trustees of The Hannah Levy Home
I report to the Trustees on my examination of the financial statements of The Hannah Levy Home for the year ended 31 May 2023.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(15)(b) of the Act.
Independent Examiner’s Statement
I have completed my examination, I confirm that the following matters have come to my attention in connection with the examination:
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The charity’s accounts for the years ended 31 May 2020 and 31 May 2021 were subject to a disclaimer of audit opinion due to the deficiencies in the bookkeeping and record keeping and I am therefore unable to confirm the accuracy of the comparable figures for the year ended 31 May 2022 or the capital balance brought forward.
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Accounting records were not kept in respect of the charity as required by section 130 of the Act.
I can, however, confirm that :
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The financial statements are in accordance with the available records.
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The financial statements 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 financial statements give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
Christopher B Ratcliffe BA FCA FCCA TC Group
10 Bridge Street Christchurch Dorset BH23 1EF
31 August 2023
Page 6
The Hannah Levy Home
Statement of Financial Activities for the Year Ended 31 May 2023
| Notes Income and endowments from Donations and legacies 3 Total Income Expenditure on Raising Funds Charitable activities 4 Other expenses 5 Total expenditure NET INCOME/(EXPENDITURE) Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted fund £ 53,120 53,120 - 504,500 36,100 540,600 (487,480) 531,750 44,270 |
Restricted funds £ - - - - - - - - - |
2023 Total funds £ 53,120 53,120 - 504,500 36,100 540,600 (487,480) 531,750 44,270 |
2022 Total funds £ 187,766 |
|---|---|---|---|---|
| 187,766 | ||||
| - - 32,556 |
||||
| 32,556 | ||||
| 155,210 376,540 |
||||
| 531,750 |
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The Hannah Levy Home
Statement of Financial Position 31 May 2023
| Unrestricted funds Notes £ Fixed assets Tangible assets 10 - Current assets Debtors 11 - Cash at bank and in hand 485,190 485,190 Creditors Amounts falling due within one year 12 (440,920) Net current assets 44,270 Total assets less current liabilities 44,270 NET ASSETS 44,270 Funds 13 Unrestricted funds 44,270 Restricted funds - Total funds 44,270 |
2023 Total funds £ - - 485,190 485,190 (440,920) 44,270 44,270 44,270 44,270 - 44,270 |
2022 Total funds £ - 565,659 63,122 628,781 (97,031) 531,750 531,750 531,750 531,750 - 531,750 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 August 2023 and were signed on its behalf by:
Mrs S Feld - Trustee
Page 8
The Hannah Levy Home
Statement of Cash Flows for the Year Ended 31 May 2023
| Notes Cash flows from operating activities Cash generated from activities 1 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ 422,068 422,068 63,122 485,190 |
2022 £ 50,563 50,563 12,559 63,122 |
|---|---|---|
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The Hannah Levy Home
Notes to the Statement of Cash Flows for the Year Ended 31 May 2023
1. Reconciliation of net expenditure to net cash flow from operating activities
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Net income/(expenditure) for the reporting period (as per the Statement of | |||
| Financial Activities) | (487,480) | 155,210 | |
| Adjustments for: | |||
| Disposal of property | - | 540,000 | |
| (Increase)/ decrease in debtors | 565,659 | (540,239) | |
| (Decrease)/ increase in creditors | 343,889 | (104,408) | |
| Net cash used in operations | 422,068 | 50,563 | |
| Analysis of changes in net funds | |||
| At 1/6/22 | Cash flow | At 31/5/23 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 63,122 | 422,068 | 485,190 |
| Total funds | 63,122 | 422,068 | 485,190 |
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The Hannah Levy Home
Notes to the Financial Statements for the Year Ended 31 May 2023
1. General information
The charity is a registered charity in England and Wales and is unincorporated. The address of the principle office can be found under Reference and Administrative Details on page 1.
2. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
All other income is accounted for on an accruals 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. The charity only has one activity.
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The Hannah Levy Home
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
2. Accounting policies - continued
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Going concern
As detailed in the Trustees’ Report, the Charity has retained reserves which the trustees consider to be sufficiently adequate to maintain the Charity’s existence and to cover any unforeseen expenditures that may arise following the closure of the home and sale of the property.
It is intended to maintain the Charity to facilitate the receipt of any future legacies that may have been made to The Hannah Levy Home.
3. Donations and legacies
| Donations Legacies |
2023 £ - 53,120 53,120 |
2022 £ 35 187,731 |
|---|---|---|
| 187,766 |
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The Hannah Levy Home
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
4. Charitable activities
| 2023 £ Charitable donations 4,500 Gift of capital to the Hannah Levy House Trust 500,000 504,500 5. Support costs Governance Finance Other costs £ £ £ Management of the charity and its assets 318 30,862 4,920 Support costs, included in the above, are as follows: 2023 £ Bank charges 318 Bookkeeping fees 1,648 Administration costs 4,681 Accountants/Auditors remuneration 4,920 Legal and professional fees relating to the sale of the property 18,326 Property related costs 6,207 36,100 6. Accountants/Auditors remuneration 2023 £ Fees payable to the Charity's accountants for the preparation of the Charity's financial statements 4,920 |
2022 £ - - |
|
|---|---|---|
| - | ||
| Totals £ 36,100 2022 £ 192 - 7,727 15,180 - 9,457 32,556 2022 £ 15,180 |
7. Trustees' remuneration and benefits
Trustees did not receive remuneration for their services during the current or prior year.
Trustees' expenses
During the year the Trustees settled expenses incurred by the Trust to the value of £1,275 which were reimbursed when funds permitted (2022 - Nil). No Trustees purchased goods through the Charity.
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The Hannah Levy Home
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
8. Staff costs
Following the closure of the Care Home the charity had no employees.
9. Comparatives for the statement of financial activities
10.
| Income and endowments from Donations and legacies Total Expenditure on raising funds Charitable activities Other expenditure Total NET INCOME Reconciliation of funds Total funds brought forward Total funds carried forward Tangible fixed assets |
Unrestricted fund £ 187,766 187,766 32,566 32,556 155,210 376,540 531,750 |
Restricted funds £ - - - - - - - |
Total funds £ 187,766 |
|---|---|---|---|
| 187,766 | |||
| 32,556 | |||
| 32,566 | |||
| 155,210 376,540 |
|||
| 531,750 | |||
Following the sale of the care home in the previous financial year the Charity no longer held any fixed assets.
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The Hannah Levy Home
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
11. Debtors: amounts falling due within one year
| Other debtors Monies due in respect of the sale of the Care Home 12. Creditors: amounts falling due within one year Hannah Levy Home Trust Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
2023 £ - - - 2023 £ 430,000 - - - 10,920 440,920 |
2022 £ 25,659 540,000 565,659 2022 £ - 5,264 87 75,000 16,680 97,031 |
|---|---|---|
The loan from Jewish Care within other creditors was received in 1988. There is no interest charged on the loan. The loan was repaid on the completion of the property sale.
The monies due to Hannah Levy Home Trust were paid in full subsequent to the year end.
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The Hannah Levy Home
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
13. Movement in funds
| Net movement At 1/6/22 in funds £ £ Unrestricted funds General fund 531,750 487,480 Comparatives for movement in funds Net movement At 1/6/21 in funds £ £ Unrestricted funds General fund 376,540 155,210 TOTAL FUNDS 376,540 155,210 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 187,766 32,556 TOTAL FUNDS 187,766 32,556 |
Transfers £ - Transfers £ - - Gains and losses £ - - |
|
|---|---|---|
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The Hannah Levy Home
Notes to the Financial Statements - continued for the Year Ended 31 May 2023
14. Contingent assets and liabilities
The Charity has not been notified of any entitlement to legacies at the year end, (2022 - £25,659).
15. Related party disclosures
During the year, the Charity received total donations from the Trustees of £Nil (2022 - £Nil).
In order to assist the Charity in meeting the costs associated with the closure of the home, including redundancy payments, a loan amounting to £133,000 had been received from a company under the control of one of the Trustees. The loan was interest free and unsecured and repayable when funds permitted and ultimately from the proceeds from the sale of the property. The loan was fully repaid following the sale of the charity’s property.
16. Post balance sheet events
Subsequent to the balance sheet date the Charity completed the transfer of the funds to the new charitable entity, Hannah Levy House Trust.
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