REGISTERED CHARITY NUMBER: 253388
GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023
| 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 2023
TRUSTEES
PRINCIPAL ADDRESS
Mrs M Padwa Mrs S Sonnenshein 34 St Andrew's Mews Dunsmure Road London N16 5HX
REGISTERED CHARITY 253388 NUMBER
INDEPENDENT EXAMINER
BANKERS
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS 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 2023
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
Funds are raised by the trustees and voluntary helpers. Requests for help are carefully considered and help is given according to circumstances.There was a reduction in the charity's income of about 19% although the trustees increased grantmaking to leaving a deficit for the year, this being funded by reserves held
Reserves policy
Funds are held in reserve to meet increasing demands on the charity. Reserves at the year end were £957 (2022 £46,910).
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
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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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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 2023
Approved by order of the board of trustees on 13 October 2024 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 2023.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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
13 October 2024
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 97,353 Other trading activities 3 10,000 Investment income 4 - Total 107,353 EXPENDITURE ON Raising funds 4,055 Charitable activities 5 Grantmaking 146,471 Support 2,780 Total 153,306 NET INCOME/(EXPENDITURE) (45,953) RECONCILIATION OF FUNDS Total funds brought forward 46,910 TOTAL FUNDS CARRIED FORWARD 957 |
2022 Total funds £ 116,596 15,000 13 |
|---|---|
| 131,609 | |
| 201 122,934 2,162 |
|
| 125,297 | |
| 6,312 40,598 |
|
| 46,910 |
The notes form part of these financial statements
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
BALANCE SHEET 31 DECEMBER 2023
| 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 |
2023 Total funds £ 3,790 (2,833) 957 957 957 957 957 |
2022 Total funds £ 50,040 (3,130) 46,910 46,910 46,910 46,910 46,910 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 13 October 2024 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 2023
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 |
2023 £ 97,353 2023 £ 10,000 |
2022 £ 116,596 |
|---|---|---|
| 2022 £ 15,000 |
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 4. INVESTMENT INCOME 2023 £ Deposit account interest - 5. CHARITABLE ACTIVITIES COSTS Grant funding of activities Support (see note costs (see 6) note 7) £ £ Grantmaking 146,471 - Support - 2,780 146,471 2,780 6. GRANTS PAYABLE 2023 £ Grantmaking 146,471 The total grants paid to institutions during the year was as follows: 2023 £ Relief of poverty 1,700 The total grants paid to individuals during the year was as follows: 2023 £ Relief of poverty 144,771 7. SUPPORT COSTS Governance Finance costs £ £ Support 746 2,034 |
2022 £ 13 Totals £ 146,471 2,780 |
2022 £ 13 |
|---|---|---|
| 149,251 | ||
| 2022 £ 122,836 |
||
| 2022 £ - 2022 £ 122,836 |
2022 £ - |
|
| Totals £ 2,780 |
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
7. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
Management
| Management | ||
|---|---|---|
| 2023 | 2022 | |
| Total | Total | |
| activities | activities | |
| £ | £ | |
| Office expenditure | - | 98 |
| Finance | ||
| 2023 | 2022 | |
| Total | ||
| Support | activities | |
| £ | £ | |
| Bank charges | 746 | 482 |
| Governance costs | ||
| 2023 | 2022 | |
| Total | ||
| Support | activities | |
| £ | £ | |
| Independent examiner's fee | 420 | 420 |
| Independent examiner's other fees | 1,260 | 1,260 |
| General expenses | 354 | - |
| 2,034 | 1,680 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1.1.23 £ Unrestricted funds General fund 46,910 TOTAL FUNDS 46,910 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 107,353 TOTAL FUNDS 107,353 Comparatives for movement in funds At 1.1.22 £ Unrestricted funds General fund 40,598 TOTAL FUNDS 40,598 |
2023 2022 £ £ 2,833 3,130 Net movement At in funds 31.12.23 £ £ (45,953) 957 (45,953) 957 Resources Movement expended in funds £ £ (153,306) (45,953) (153,306) (45,953) Net movement At in funds 31.12.22 £ £ 6,312 46,910 6,312 46,910 |
|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 131,609 131,609 |
Resources Movement expended in funds £ £ (125,297) 6,312 (125,297) 6,312 |
|---|---|---|
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GEMILUTH CHESED & ENDOWMENT OF BRIDES SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
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