Charity registration number 249130 (England and Wales)
BERNARD KAHN CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
BERNARD KAHN CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr Y Z Kahn Mrs M Kahn Mr M Shaya (Appointed 19 November 2023) Charity registration England and Wales 249130
Principal address 24 Elmcroft Avenue Golders Green London NW11 0RR
Independent examiner
Paul Newton FCA 5 Robin Hood Lane Sutton Surrey SM1 2SW
BERNARD KAHN CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 10 |
BERNARD KAHN CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BERNARD KAHN CHARITABLE TRUST
I report to the Trustees on my examination of the financial statements of Bernard Kahn Charitable Trust (the Charity) for the year ended 5 April 2024.
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.
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
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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: 1 accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements 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.
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 financial statements to be reached.
Paul Newton FCA
JCS Accountants Limited 5 Robin Hood Lane Sutton Surrey SM1 2SW 9 March 2026
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BERNARD KAHN CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 30,000 | 55,000 |
| Investments | 4 | 56,322 | 48,508 |
| Total income | 86,322 | 103,508 | |
| Expenditure on: | |||
| Raising funds | |||
| Investment property running costs | 5 | 20,777 | 24,540 |
| Investment propetry management costs | 5 | 20,568 | 16,583 |
| 41,345 | 41,123 | ||
| Charitable activities | |||
| Grants paid in support of the Jewish community | 7 | 36,000 | 53,513 |
| Administrative costs | 7 | 4,726 | 4,556 |
| Total charitable expenditure | 40,726 | 58,069 | |
| Total expenditure | 82,071 | 99,192 | |
| Net income and movement in funds | 4,251 | 4,316 | |
| Reconciliation of funds: | |||
| Fund balances at 6 April 2023 | 625,540 | 621,224 | |
| Fund balances at 5 April 2024 | 629,791 | 625,540 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | t€ft | |||
| Fixed assets | ||||
| lnvestment property | 12 | 1,031,135 | 1,031,135 | |
| Current assets | ||||
| Cashatbank andin hand | 27,156 | 25,434 | ||
| Creditors: amountsfallingduewithin | 15 | |||
| oneyear | (71,060) | (73,640) | ||
| Netcurrent Iiabilities | (43,904) | (48,206) | ||
| Totalassets less currentliabilities | 987,231 | 982,929 | ||
| Creditors: amountsfallingdueafter | ||||
| more thanoneyear | 16 | 1357,4/i01 | (357,389) | |
| Netassets | 629,791 | 625,540 | ||
| Thefundsofthe Charity | ||||
| Unrestricted funds | 18 | 629,791 | 625,540 | |
| 629,791 | 625,540 |
BERNARD KAHN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
1 Accounting policies
Charity information
The Charity is a trust governed by its Trust Deed dated 2 April 1965.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity's Trust Deed, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Rent is accounted for on a receivable basis.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
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BERNARD KAHN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1 Accounting policies
(Continued)
Grants payable are charged in the year when the offer is conveyed to the recipient, except where an offer is conditional. These are recognised when the conditions are fulfilled. Conditional grants outstanding are noted as a commitment at the year end, but not accrued as expenditure.
All other expenditure is recognised in the period to which it relates.
1.6 Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 30,000 | 55,000 |
4 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Rental income | 55,940 | 48,422 |
| Interest receivable | 382 | 86 |
| 56,322 | 48,508 |
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BERNARD KAHN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
5 Raising funds
| Raising funds | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Investment property running costs | ||
| General repairs and maintenance | 4,033 | 7,693 |
| Ground rent | 1,300 | 1,298 |
| Insurance | 2,637 | 3,607 |
| Managing agent fees | 5,035 | 4,171 |
| Service charges | 7,772 | 7,771 |
| Investment property running costs | 20,777 | 24,540 |
| Investment property management costs | ||
| Mortgage interest | 20,568 | 16,583 |
| 41,345 | 41,123 |
6 Expenditure on charitable activities
| Grants paid in support of the Jewish community Administrati ve costs 2024 2024 £ £ Direct costs Accounting - 3,060 Bank charges - 30 Subscriptions - 1,636 - 4,726 Grant funding of activities (see note 7) 36,000 - 36,000 4,726 Analysis by fund Unrestricted funds 36,000 4,726 |
Total Grants paid in support of the Jewish community Administrati ve costs 2024 2023 2023 £ £ £ 3,060 - 2,916 30 - 36 1,636 - 1,604 4,726 - 4,556 36,000 53,513 - 40,726 53,513 4,556 40,726 53,513 4,556 |
Total 2023 £ 2,916 36 1,604 |
|---|---|---|
| 4,556 53,513 |
||
| 58,069 | ||
| 58,069 |
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BERNARD KAHN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
7 Grants payable
| Grants to institutions: Achisomoch Aid Company Ltd Friends of Eidah Chareidis Orthodox Council of Jerusalem Marbeh Torah Trust Golders Green Beth Hamedrash |
2024 £ - 20,000 10,000 6,000 36,000 |
2023 £ 10,000 20,000 10,000 13,513 |
|---|---|---|
| 53,513 |
8 Administrative costs
Administrative costs includes payments to the independent examiners of £3,060 (2023- £2,916) for independent examination fees, including VAT.
9 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or were reimbursed expenses during the year.
10 Employees
There were no employees during the year.
There were no employees whose annual remuneration was £60,000 or more.
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Investment property
| Investment property | |
|---|---|
| 2024 | |
| £ | |
| Fair value | |
| At 6 April 2023 and 5 April 2024 | 1,031,135 |
Investment property comprises four flats. The fair value of the investment property has been arrived at on the basis of market information available to the trustees for similar properties. There was no indication that the market value of the properties had changed as at the balance sheet date.
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BERNARD KAHN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
13 Fixed asset investments
| Unlisted | |
|---|---|
| investments | |
| £ | |
| Fair value | |
| At 6 April 2023 & 5 April 2024 | 1 |
| Impairment | |
| At 6 April 2023 & 5 April 2024 | 1 |
| Carrying amount | |
| At 05 April 2024 | - |
| At 05 April 2023 | - |
14 Subsidiaries
These financial statements are not consolidated because the dormant subsidiary is immaterial.
Details of the Charity's subsidiaries at 5 April 2024 are as follows:
| Name of undertaking | Registered | Nature of business | Class of | % Held |
|---|---|---|---|---|
| office | shares held | Direct Indirect | ||
| Beack Investments Ltd | England | Dormant | Ordinary | 100.00 |
The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:
| Name of undertaking | Profit/(Loss) | Capital and |
|---|---|---|
| Reserves | ||
| £ | £ | |
| Beack Investments Ltd | - | 1 |
15 Creditors: amounts falling due within one year
| Other creditors Accruals and deferred income |
2024 £ 68,000 3,060 71,060 |
2023 £ 68,000 5,640 |
|---|---|---|
| 73,640 |
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BERNARD KAHN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
| 16 Creditors: amounts falling due after more than one year Notes Bank loans 17 17 Loans and overdrafts Bank loans Payable after one year Amounts included above which fall due after five years: Payable other than by instalments |
2024 £ 357,440 2024 £ 357,440 357,440 - |
2023 £ 357,389 |
|---|---|---|
| 2023 £ 357,389 |
||
| 357,389 | ||
| 357,389 |
The long-term loans are secured by fixed charges over two of the four investment properties owned by the charity.
The long-term loans consist of two interest only mortgages with a term of 11 years ending in November 2028. The interest rate was 5.74% throughout the period. An early repayment charge will apply until 2 January 2028.
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 6 April 2023 £ General funds 625,540 Previous year: At 6 April 2022 £ General funds 621,224 |
Income Expenditure At 5 April 2024 £ £ £ 86,322 (82,071) 629,791 Income Expenditure At 5 April 2023 £ £ £ 103,508 (99,192) 625,540 |
|---|---|
19 Related party transactions
The trustees made an interest free loan to the charity in May 2017 of £68,000 which remained outstanding throughout the year.
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