**REGISTERED CHARITY NUMBER: 259337**
**Report of the Trustees and**
**Unaudited Financial Statements FOR THE YEAR ENDED 31 October 2023**
**for**
## **SEPHARDI KASHRUT AUTHORITY**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
**SEPHARDI KASHRUT AUTHORITY**
**Contents of the Financial Statements FOR THE YEAR ENDED 31 OCTOBER 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Independent Examiner's Report**|3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 to 8|
**SEPHARDI KASHRUT AUTHORITY**
## **Report of the Trustees FOR THE YEAR ENDED 31 OCTOBER 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 October 2023. 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Sephardi Kashrut Authority aims to uphold Jewish religious requirements by ensuring the due supervision (where such supervision is sought) of Kashrut in connection with food dispensed or manufactured.
## **Significant activities**
In relation to these objectives, the charity has continued to certify and supervise a range of restaurants, bakeries, hotels, caterers and food manufacturers in compliance with Kashrut.
## **Public benefit**
The trustees have complied with their duty to have due regard to the public benefit guidance published by the Charity Commission in exercising their powers or duties.
## **Grantmaking**
A grant made to an outside body must be matched by an equivalent grant to the Spanish & Portuguese Jews' Congregation. Grants to outside bodies must be for the educational promotion of Kashrut (Jewish dietary laws).
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year, the charity has provided supervision to approximately 30 establishments and businesses. This supervision ensures the continued availability of certified Kashrut compliant food to the Jewish community. Whilst providing this supervision, the charity has also successfully maintained adequate reserves to ensure the continued provision of its charitable services for the foreseeable future.
## **FINANCIAL REVIEW**
## **Financial position**
The charity had income from charitable activities of £208,366 (2022: £198,478). The charity had expenditure on charitable activities of £205,992 (2022: £196,612). At the balance sheet date, the charity had total unrestricted funds of £6,593 (2022: £2,630).
## **Investment policy and objectives**
There are no restrictions on the charity's power to invest.
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level to cover administration costs for a period of at least eighteen months.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Sephardi Kashrut Authority was established under and by the Authority of the Hakham and his Ecclesiastical Authority. Its constitution was adopted on 15th July 1969 and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
Officers and committee members are recruited based on their knowledge, skills and adherence to the charity's objectives.
Page 1
**SEPHARDI KASHRUT AUTHORITY**
## **Report of the Trustees FOR THE YEAR ENDED 31 OCTOBER 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure**
The Chairman is appointed for a period of three years and he may put himself forward for re-appointment. The Board of Elders, the ruling body of the Spanish and Portuguese Jews' Congregation, must approve the Chairman's appointment. Members of the Authority who are not ex officio or co-opted are elected for a period of two years, by the Yehidim (members) of the Spanish and Portuguese Jews' Congregation. The Officers meet at least four times a year.
The officers and committee members give of their time voluntarily, and no remuneration or expenses were paid to them in the year.
Policy decisions are made by the executive committee who instruct the executive director to put these into action.
The charity is administered on a day-to-day basis by its director of licencing.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
259337
## **Principal address**
2 Ashworth Road London W9 1JY
## **Trustees**
Dr A Kahen J A Bekhor J C Green J M Silberstein A J Aaron R J Kandel
## **Independent Examiner**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 28 August 2024 and signed on its behalf by:
Dr A Kahen - Trustee
Page 2
**Independent Examiner's Report to the Trustees of Sephardi Kashrut Authority**
## **Independent examiner's report to the trustees of Sephardi Kashrut Authority**
I report to the charity trustees on my examination of the accounts of Sephardi Kashrut Authority (the Trust) for the year ended 31 October 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Daniel Fine, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
28 August 2024
Page 3
## **SEPHARDI KASHRUT AUTHORITY**
## **Statement of Financial Activities FOR THE YEAR ENDED 31 OCTOBER 2023**
|2023
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
271
**Charitable activities**
Supervision
208,366
Investment income
2
589
Other income
729
**Total**
209,955
**EXPENDITURE ON**
**Charitable activities**
Supervision
205,992
**NET INCOME**
3,963
**RECONCILIATION OF FUNDS**
Total funds brought forward
2,630
**TOTAL FUNDS CARRIED FORWARD**
6,593|2022
Total
funds
£
1,228
198,478
42
-
199,748
196,612
3,136
(506)
2,630|
|---|---|
The notes form part of these financial statements
Page 4
## **SEPHARDI KASHRUT AUTHORITY**
## **Balance Sheet**
## **31 OCTOBER 2023**
|2023
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
5
-
**CURRENT ASSETS**
Debtors
6
67,548
Prepayments and accrued income
1,278
Cash at bank
36,540
105,366
**CREDITORS**
Amounts falling due within one year
7
(98,773)
**NET CURRENT ASSETS**
6,593
**TOTAL ASSETS LESS CURRENT LIABILITIES**
6,593
**NET ASSETS/(LIABILITIES)**
6,593
**FUNDS**
Unrestricted funds
6,593
**TOTAL FUNDS**
6,593|2022
Total
funds
£
277
76,129
-
27,755
103,884
(101,531)
2,353
2,630
2,630
2,630
2,630|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 August 2024 and were signed on its behalf by:
A Kahen - Trustee
J M Silberstein - Trustee
The notes form part of these financial statements
Page 5
**SEPHARDI KASHRUT AUTHORITY**
**Notes to the Financial Statements FOR THE YEAR ENDED 31 OCTOBER 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**
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.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||2023|2022|
||£|£|
|Interest receivable - trading|589|42|
continued...
Page 6
**SEPHARDI KASHRUT AUTHORITY**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 OCTOBER 2023**
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Supervision
Management|2023
7
1
8|2022
14
1|
|---|---|---|
|||15|
No employees received emoluments in excess of £60,000.
## **5.**
## **TANGIBLE FIXED ASSETS**
|**COST**
At 1 November 2022
Disposals
At 31 October 2023
**DEPRECIATION**
At 1 November 2022
Charge for year
Eliminated on disposal
At 31 October 2023
**NET BOOK VALUE**
At 31 October 2023
At 31 October 2022
**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Bad Debt Provision
Other debtors|Computer
equipment
£
1,952
(1,952)
-
1,675
278
(1,953)
-
-
277
2023
2022
£
£
67,548
89,808
-
(13,684)
-
5
67,548
76,129|
|---|---|
continued...
Page 7
**SEPHARDI KASHRUT AUTHORITY**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 OCTOBER 2023**
## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Taxation and social security
Other creditors|2023
£
74,962
3,395
20,416
98,773|2022
£
32,005
10,842
58,684
101,531|
|---|---|---|
## **8. RELATED PARTY DISCLOSURES**
At the year end the charity owed the Spanish and Portuges Jews' Congregation £68,157 (2022: £60,314)
Page 8