REGISTERED COMPANY NUMBER: 00846151 (England and Wales) REGISTERED CHARITY NUMBER: 242649
EMUNO EDUCATIONAL CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
EMUNO EDUCATIONAL CENTRE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 to | 3 |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 to | 6 |
| Notes to the Financial Statements | 7 to | 11 |
EMUNO EDUCATIONAL CENTRE LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021
TRUSTEES
I Y Chersky A Kahn I Y Goldberg (resigned 6.7.20) I Traube (appointed 25.6.20) S Hecht (appointed 25.6.20)
COMPANY SECRETARY I Y Chersky REGISTERED OFFICE First Floor 94 Stamford Hill London N16 6XS REGISTERED COMPANY 00846151 (England and Wales) NUMBER REGISTERED CHARITY 242649 NUMBER BANKERS Barclays Bank Plc 240 Whitechapel Road London E1 1BS
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EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
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 March 2021. 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
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objects for public benefit
The object of the charity is to advance and promote Hasidic Judaism in the UK and in Israel in accordance with the denomination known as the 'Gerrer Hasidim'. This includes providing facilities to worship and study in accordance with their philosophy, supporting Gerrer educational institutions, especially higher Talmudical colleges, and providing general welfare assistance. Grants are also made to other institutions and charities. The charity owns a property which is used and run by the Gur Synagogue.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
Achievement and performance
The charity's income was much reduced as the trustees are winding down the activities of the charity which are being taken over by another charity of the Gerrer Institutions. The charity has revalued its functional property.
Grantmaking policy
Grants are made at the discretion of the trustees from their knowledge of the various institutions within the Gerrer Organisation. The trustees are also approached by other institutions and charities both in England and abroad. All requests are considered and grants are made based on the level of funds available and the trustees personal knowledge of the institution and its representatives.
FINANCIAL REVIEW
Reserves policy
It is the policy of the trustees to distribute funds as available and therefore no provision is made for future funding. Reserves at the year end were ££2,004,847 (2020 - £261,103) free reserves being £2,035.
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 limited company and is governed by its Memorandum and Articles of Association dated 20th April 1965.
Organisational structure
The day to day affairs or the charity is administered by the trustees. The power to appoint new trustees is vested in the trustees. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
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EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
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 27 January 2022 and signed on its behalf by:
A Kahn - Trustee
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EMUNO EDUCATIONAL CENTRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds Charitable activities 2 Charitable activities Total NET INCOME/(EXPENDITURE) Other recognised gains/(losses) Gains on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted funds £ 62,191 2,392 54,875 57,267 4,924 1,738,820 1,743,744 261,103 2,004,847 |
2020 Total funds £ 1,476,844 21,855 1,652,147 1,674,002 (197,158) - (197,158) 458,261 261,103 |
|---|---|---|
The notes form part of these financial statements
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EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151)
BALANCE SHEET 31 MARCH 2021
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds: General fund Subscribers funds TOTAL FUNDS |
2021 Total funds £ 2,002,812 4,357 (2,322) 2,035 2,004,847 2,004,847 2,003,477 1,370 2,004,847 2,004,847 |
2020 Total funds £ 264,308 3,009 (6,214) (3,205) 261,103 261,103 259,733 1,370 261,103 261,103 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.
The notes form part of these financial statements
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EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151)
BALANCE SHEET - continued 31 MARCH 2021
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 27 January 2022 and were signed on its behalf by:
A Kahn - Trustee
The notes form part of these financial statements
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EMUNO EDUCATIONAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations are included in full in the Statement of Financial Activities when received.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Costs of raising funds are those incurred in seeking voluntary contributions and include activities with a fundraising purpose.
Grants are only recognised in the accounts when paid.
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 - 10% on reducing balance Office equipment - 25% on reducing balance
No depreciation is provided on freehold land and building used as a functional asset.
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.
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EMUNO EDUCATIONAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
2. CHARITABLE ACTIVITIES COSTS
| Grant funding of activities (see note 3) £ Charitable activities 52,250 3. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Advancement of religion Religious education Relief of poverty General purpose Kollel Chasid Torah Vachesed Yeshivah Sefas Emess Ichud Mosdos Gur, Israel 4. SUPPORT COSTS Other £ Charitable activities 146 Support costs, included in the above, are as follows: Governance costs Auditors' remuneration Auditors' remuneration for non audit work Independent examiner's fee Independent examiner's other fees General expenses |
Grant funding of activities (see note 3) £ Charitable activities 52,250 3. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Advancement of religion Religious education Relief of poverty General purpose Kollel Chasid Torah Vachesed Yeshivah Sefas Emess Ichud Mosdos Gur, Israel 4. SUPPORT COSTS Other £ Charitable activities 146 Support costs, included in the above, are as follows: Governance costs Auditors' remuneration Auditors' remuneration for non audit work Independent examiner's fee Independent examiner's other fees General expenses |
Support costs (see note 4) £ 2,625 2021 £ 52,250 2021 £ - 52,250 - - 52,250 34,000 12,250 6,000 52,250 Governance costs £ 2,479 2021 Charitable activities £ - - 720 1,080 679 2,479 |
Totals £ 54,875 2020 £ 1,645,141 2020 £ 112,716 1,487,695 10,230 34,500 1,645,141 Totals £ 2,625 2020 Total activities £ 3,240 2,970 - - 157 6,367 |
|---|---|---|---|
| Other £ 146 |
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EMUNO EDUCATIONAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Auditors' remuneration | - | 3,240 |
| Auditors' remuneration for non audit work | - | 2,970 |
| Depreciation - owned assets | 316 | 352 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
7. AVERAGE NUMBER OF EMPLOYEES
The average number of staff in the year was Nil (2020 - Nil)
8. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 April 2020 Revaluations At 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 |
Freehold property £ 261,180 1,738,820 2,000,000 - - - 2,000,000 261,180 |
Fixtures and fittings £ 52,771 - 52,771 49,662 311 49,973 2,798 3,109 |
Office equipment £ 1,939 - 1,939 1,920 5 1,925 14 19 |
Totals £ 315,890 1,738,820 |
|---|---|---|---|---|
| 2,054,710 | ||||
| 51,582 316 |
||||
| 51,898 | ||||
| 2,002,812 | ||||
| 264,308 |
Cost or valuation at 31 March 2021 is represented by:
| Valuation in 2020 Valuation in 2021 |
Freehold property £ 261,180 1,738,820 2,000,000 |
Fixtures and fittings £ 52,771 - 52,771 |
Office equipment £ 1,939 - 1,939 |
Totals £ 315,890 1,738,820 |
|---|---|---|---|---|
| 2,054,710 |
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EMUNO EDUCATIONAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 10) Accruals and deferred income 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 11. MOVEMENT IN FUNDS Unrestricted funds General fund Subscribers funds TOTAL FUNDS |
At 1.4.20 £ 259,733 1,370 261,103 261,103 |
2021 £ - 2,322 2,322 2021 £ - Net movement in funds £ 1,743,744 - 1,743,744 1,743,744 |
2020 £ 4 6,210 6,214 2020 £ 4 At 31.3.21 £ 2,003,477 1,370 |
2020 £ 4 6,210 |
|---|---|---|---|---|
| 6,214 | ||||
| 2020 £ 4 |
||||
| 2,004,847 | ||||
| 2,004,847 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 62,191 62,191 |
Resources expended £ (57,267) (57,267) |
Gains and losses £ 1,738,820 1,738,820 |
Movement in funds £ 1,743,744 1,743,744 |
|---|---|---|---|---|
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EMUNO EDUCATIONAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Subscribers funds TOTAL FUNDS Comparative net movement in funds, included in the above Unrestricted funds General fund TOTAL FUNDS |
At 1.4.19 £ 456,891 1,370 458,261 458,261 are as follows: Incoming resources £ 1,476,844 1,476,844 |
Net movement in funds £ (197,158) - (197,158) (197,158) Resources expended £ (1,674,002) (1,674,002) |
At 31.3.20 £ 259,733 1,370 261,103 261,103 Movement in funds £ (197,158) (197,158) |
|---|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
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