REGISTERED CHARITY NUMBER: 253388
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 to | 10 |
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2021
TRUSTEES Mrs M Padwa Mrs S R Babad (deceased 7.1.21) Mrs S Sonnenshein PRINCIPAL ADDRESS 34 St Andrew's Mews Dunsmure Road London N16 5HX REGISTERED CHARITY 253388 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS National Westminster Bank Plc 198 Stoke Newington High Street London N16 7GA
Page 1
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
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
Objectives for public benefit
The objects of the charity are to assist in the relief of poverty by supporting individuals, families and brides in particular.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
FINANCIAL REVIEW
Review of activities
Due to Covid there was a reduction in the charity's income and the trustees reduced grantmaking to leave a small surplus for the year.
Reserves policy
Funds are held in reserve to meet increasing demands on the charity. Reserves at the year end were £40,598 (2020 - £53,854).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was constituted by Deed of Trust dated 8 June 1967.
Organisational structure
The power to appoint new trustees is vested in the continuing board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
Funds are raised by the trustees and voluntary helpers. Requests for help are carefully considered and help is given according to circumstances.
Risk management
The trustees have confirmed that there are no major risks to which the charity is exposed.
Approved by order of the board of trustees on 17 November 2022 and signed on its behalf by:
Mrs S Sonnenshein - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
Independent examiner's report to the trustees of Gemiluth Chesed & Endowment of Brides Society
I report to the charity trustees on my examination of the accounts of Gemiluth Chesed & Endowment of Brides Society (the Trust) for the year ended 31 December 2021.
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').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
E Meyer FCA BSc Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
17 November 2022
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 131,506 Other trading activities 3 5,000 Investment income 4 2 Total 136,508 EXPENDITURE ON Raising funds 6,483 Charitable activities 5 Grantmaking 140,620 Support 2,661 Total 149,764 NET INCOME/(EXPENDITURE) (13,256) RECONCILIATION OF FUNDS Total funds brought forward 53,854 TOTAL FUNDS CARRIED FORWARD 40,598 |
2020 Total funds £ 116,035 12,000 8 |
|---|---|
| 128,043 | |
| 3,621 102,365 13,350 |
|
| 119,336 | |
| 8,707 45,147 |
|
| 53,854 |
The notes form part of these financial statements
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
BALANCE SHEET 31 DECEMBER 2021
| Notes CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
2021 Total funds £ 44,809 (4,211) 40,598 40,598 40,598 40,598 40,598 |
2020 Total funds £ 55,485 (1,631) 53,854 53,854 53,854 53,854 53,854 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 17 November 2022 and were signed on its behalf by:
Mrs S Sonnenshein - Trustee
The notes form part of these financial statements
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. 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.
Income
Donations are included in full in the Statement of Financial Activities when received.
Other income is included in the year in which it is receivable.
Expenditure
Expenditure is recognised in the year in which it incurs and includes irrecoverable VAT, which is reported as part of the expenditure to which it relates.
Raising funds are the costs of generating income and do not include the costs of disseminating information in support of the charitable activities.
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.
Taxation
The charity is exempt from tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. DONATIONS AND LEGACIES
| Donations Government grants Grants received, included in the above, are as follows: Government grant |
2021 £ 131,506 - 131,506 2021 £ - |
2020 £ 106,075 9,960 |
|---|---|---|
| 116,035 | ||
| 2020 £ 9,960 |
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 3. | OTHER TRADING ACTIVITIES | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| £ | £ | |||||
| Other trading activities | 5,000 | 12,000 | ||||
| 4. | INVESTMENT INCOME | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Deposit account interest | 2 | 8 | ||||
| 5. | CHARITABLE ACTIVITIES COSTS | |||||
| Grant | ||||||
| funding | of | |||||
| activities | Support | |||||
| (see note | costs (see | |||||
| 6) | note 7) | Totals | ||||
| £ | £ | £ | ||||
| Grantmaking | 140,620 | - | 140,620 | |||
| Support | - | 2,661 | 2,661 | |||
| 140,620 | 2,661 | 143,281 | ||||
| 6. | GRANTS PAYABLE | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Grantmaking | 140,620 | 102,365 | ||||
| The total grants paid to individuals during the year was as follows: | ||||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Relief of poverty | 140,620 | 102,365 | ||||
| 7. | SUPPORT COSTS | |||||
| Governance | ||||||
| Management | costs | Totals | ||||
| £ | £ | £ | ||||
| Support | 1,161 | 1,500 | 2,661 |
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
7. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
Management
| Office expenditure Governance costs Independent examiner's fee Independent examiner's other fees |
2021 2020 Total Support activities £ £ 1,161 11,850 2021 2020 Total Support activities £ £ 360 360 1,140 1,140 1,500 1,500 |
|---|---|
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 10) Other creditors LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts |
2021 £ - 4,211 4,211 2021 £ - |
2020 £ 85 1,546 |
|---|---|---|
| 1,631 | ||
| 2020 £ 85 |
10. LOANS
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
11. MOVEMENT IN FUNDS
| At 1.1.21 £ Unrestricted funds General fund 53,854 TOTAL FUNDS 53,854 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 136,508 TOTAL FUNDS 136,508 Comparatives for movement in funds At 1.1.20 £ Unrestricted funds General fund 45,147 TOTAL FUNDS 45,147 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 128,043 TOTAL FUNDS 128,043 |
Net movement At in funds 31.12.21 £ £ (13,256) 40,598 (13,256) 40,598 Resources Movement expended in funds £ £ (149,764) (13,256) (149,764) (13,256) Net movement At in funds 31.12.20 £ £ 8,707 53,854 8,707 53,854 Resources Movement expended in funds £ £ (119,336) 8,707 (119,336) 8,707 |
|---|---|
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
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