REGISTERED CHARITY NUMBER: 253388
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022
TRUSTEES
TRUSTEES Mrs M Padwa 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 2022
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
There was a reduction in the charity's income and the trustees reduced grantmaking to leave a small surplus for the year.
Funds are raised by the trustees and voluntary helpers. Requests for help are carefully considered and help is given according to circumstances.
Reserves policy
Funds are held in reserve to meet increasing demands on the charity. Reserves at the year end were £46,910 (2021 - £40,598).
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.
Risk management
The trustees have confirmed that there are no major risks to which the charity is exposed.
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).
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
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
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.
Page 2
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Approved by order of the board of trustees on 18 September 2023 and signed on its behalf by:
Mrs S Sonnenshein - Trustee
Page 3
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 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').
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
18 September 2023
Page 4
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 2022 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 116,596 Other trading activities 3 15,000 Investment income 4 13 Total 131,609 EXPENDITURE ON Raising funds 201 Charitable activities 5 Grantmaking 122,934 Support 2,162 Total 125,297 NET INCOME/(EXPENDITURE) 6,312 RECONCILIATION OF FUNDS Total funds brought forward 40,598 TOTAL FUNDS CARRIED FORWARD 46,910 |
2021 Total funds £ 131,506 5,000 2 136,508 6,483 140,620 2,661 149,764 (13,256) 53,854 40,598 |
|---|---|
The notes form part of these financial statements
Page 5
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
BALANCE SHEET 31 DECEMBER 2022
| 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 10 Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 50,040 (3,130) 46,910 46,910 46,910 46,910 46,910 |
2021 Total funds £ 44,809 (4,211) 40,598 40,598 40,598 40,598 40,598 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 18 September 2023 and were signed on its behalf by:
Mrs S Sonnenshein - Trustee
The notes form part of these financial statements
Page 6
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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 3. OTHER TRADING ACTIVITIES Other trading activities |
2022 £ 116,596 2022 £ 15,000 |
2021 £ 131,506 |
|---|---|---|
| 2021 £ 5,000 |
Page 7
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 4. INVESTMENT INCOME 2022 £ Deposit account interest 13 5. CHARITABLE ACTIVITIES COSTS Grant funding of activities Support (see note costs (see 6) note 7) £ £ Grantmaking 122,836 98 Support - 2,162 122,836 2,260 6. GRANTS PAYABLE 2022 £ Grantmaking 122,836 The total grants paid to individuals during the year was as follows: 2022 £ Relief of poverty 122,836 7. SUPPORT COSTS Governance Management Finance costs £ £ £ Grantmaking 98 - - Support - 482 1,680 98 482 1,680 |
2021 £ 2 Totals £ 122,934 2,162 |
2021 £ 2 |
|---|---|---|
| 125,096 | ||
| 2021 £ 140,620 |
||
| 2021 £ 140,620 |
||
| Totals £ 98 2,162 2,260 |
||
| 2,260 |
Page 8
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
7. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
Management
| Management | ||
|---|---|---|
| 2022 | 2021 | |
| Total | ||
| Grantmaking | activities | |
| £ | £ | |
| Office expenditure | 98 | 1,161 |
| Finance | ||
| 2022 | 2021 | |
| Total | ||
| Support | activities | |
| £ | £ | |
| Bank charges | 482 | - |
| Governance costs | ||
| 2022 | 2021 | |
| Total | ||
| Support | activities | |
| £ | £ | |
| Independent examiner's fee | 420 | 360 |
| Independent examiner's other fees | 1,260 | 1,140 |
| 1,680 | 1,500 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Other creditors | 3,130 | 4,211 |
Page 9
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
10. MOVEMENT IN FUNDS
| At 1.1.22 £ Unrestricted funds General fund 40,598 TOTAL FUNDS 40,598 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 131,609 TOTAL FUNDS 131,609 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 53,854 TOTAL FUNDS 53,854 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 136,508 TOTAL FUNDS 136,508 |
Net movement At in funds 31.12.22 £ £ 6,312 46,910 6,312 46,910 Resources Movement expended in funds £ £ (125,297) 6,312 (125,297) 6,312 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) |
|---|---|
Page 10
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 11