Charity number: 263423
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 7 |
| Trustees' responsibilities statement | 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12 - 18 |
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
| Trustees | B J C Mire |
|---|---|
| D Pine | |
| Y Kaufman (deceased 31 March 2020) | |
| L Winter | |
| Charity registered number 263423 Principal office Elscot House Arcadia Avenue London N3 2JU Accountants Blick Rothenberg Limited Chartered Accountants Palladium House 1 - 4 Argyll Street London W1F 7LD Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ |
Page 1
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2020 to 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the 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).
Objectives and activities
a. Policies and objectives
The main objectives of the Charity are:-
(a) The promotion and safeguarding of shechita in Great Britain;
(b) Providing a forum for its Members to discuss common issues relating to inter alia, the market for kosher meat and poultry, the use of abattoirs for shechita, the engagement of staff and the licensing of butchers and factories;
(c) The administration and operation of the Shechita Defence Levy.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The National Council of Shechita Boards of Great Britain ("NCSB") has continued to assist communities on matters appertaining to the administration of shechita practice, and preservation of the Jewish, religious method of humane slaughter of permitted species of animals for food – shechita – as a religious, moral right, at home and abroad.
It also monitors media comment, and through the services of Members of Shechita UK ("SHUK"), its appointed Public Relations Consultants, it addresses all adverse comments, as well as information requests.
Page 2
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
c. Main activities undertaken to further the Charity's purposes for the public benefit
The Trustees confirmed that they have compiled with their duty, under Section 17 of the Charities' Act 2011, to have due regard to the Charity Commission's General Guidance on the Public Benefit.
The sections of this report below, entitled 'Structure, Governance and Management', 'Achievements and Performance' and 'Objectives and Activities' set out the objectives of the NCSB and report on the activity and successes in the year to the 31 December 2020.
The NCSB plays a key role in the bringing together all Shechita Authorities, to address matters of the common concern and interest.
These cover the protection of the practice of Shechita, exchange of good practice and the coordination of the administration of shechita in the UK.
The Trustees have considered this matter and concluded:-
(i) That the aims of the National Council continue to be charitable;
(ii) That the aims and the work done give identifiable benefits to the charitable sector, and both indirectly and directly to individuals in need;
(iii) That the benefits to the public are not unreasonably restricted in any way, and certainly not by ability to pay, and;
(iv) That there is no detriment or harm arising from the aims or activities.
Page 3
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Achievements and performance
a. Main achievements of the Charity
Shechita Defence Activity throughout the year
-
(a) Labelling – Campaign against pejorative one-dimensional labelling, such as ‘stunned’ or ‘non-stunned’; (b) Parliamentary Monitoring;
-
(c) Government Consultations;
-
(d) Significant work in relation to defending attacks on shechita primarily in the UK but also in Belgium, Poland, Holland, Austria, Finland and Switzerland; (e) Media monitoring;
-
(f) Targeted media relations e.g. articles in the Vet Record, Jewish Chronicle;
-
(g) Advocacy around relevant legislation and Brexit;
-
(h) DEFRA – continuous communications to protect the practice of shechita, and attending significant Meetings with the Minister Lord Goldsmith and senior civil servants
-
(i) FSA – Ongoing communications with the regulatory body around religious slaughter; (j) Community engagement.
The NCSB takes pride in rigorous, annual Licensing Systems, in placing shechita staff, through the Rabbinical Commission for the Licensing of Shochetim (slaughter staff) in England.
Through its liaison with SHUK, the charity helps to secure the continued statutory recognition of the Rabbinical Commission. It believes that the way in which shochetim are trained and licensed has much to show those involved in the continued use of the Certificates for Competence for all slaughter staff.
There continues to be close a liaison between the NCSB and the Rabbinical Commission, both over the licensing arrangements and over the impact of the EU Regulation and its requirements for competency.
There has been no direct impact from the Coronavirus pandemic on the activities carried out by the NCSB, save for the delay in elections referred to above. That is because the NCSB is not involved operationally in day to day supplies of meat and poultry.
The challenges for the NCSB in 2021 are to ensure that repeated attacks on shechita, from both inside the UK and in Europe, are successfully opposed. The uncertainty created by Brexit, creates a political climate in which attacks on shechita in Parliament can render the community more vulnerable to legislative change. There will be an inevitable focus on the Agriculture Bill replacing EU Legislation insofar as that relates to shechita.
The Council will also liaise between its Members to try and ensure that more satisfactory supplies of kosher, slaughtered meat are available in abattoirs located within the UK, recognising the danger to shechita defence that can arise from over-dependency on imported supplies.
The NCSB has agreed, in principle, to develop the idea of a Shechita Defence Levy, to ensure adequate and proportionate funds are available from each of the Member Boards, dependent on the respective sizes of their component Synagogual Bodies by Membership. This is not an exact science and thus the Council have become dependent on variable contributions from its Constituent Members, with The London Board for Shechita having been the main financial contributor, both historically and throughout the year in question.
Page 4
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Achievements and performance (continued)
b. Review of activities
The National Council of Shechita Boards of Great Britain is a registered charity and a non-profit-making entity, and it budgets for a modest surplus to enable it to operate with financial stability.
For the year ended 31 December 2020, the results show a deficit of resources expended over incoming resources on nominal activities of £40,035 (2019: £9,171).
Total expenditure during the year was £95,469 (2019: £104,254) of which £92,229 (2019: £100,654) was spent on defence of Shechita.
At the year end date, the charity reports a deficit of funds of £9,171 (2019: surplus of £30,864).
Financial review
a. Going concern
The Trustees have considered whether the charity has been affected by the economic impact and restrictions that have ensued following the Coronavirus pandemic that has continued since the end of the financial year. Having considered post year-end financial results, cash reserves as well as forecast income from donations, 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. The Trustees are aware that the reserves at the reporting date do not meet the criteria of the reserves policy, yet are taking necessary steps to ensure over time the deficit is addressed.
b. Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
The charity has no restricted funds.
c. Deficit
The Trustees are aware that the reserves at the reporting date do not meet the criteria of the reserves policy due to the funds deficit at year end. The deficit has been addressed by way of the National Council of Shechita Boards negotiating reduced fees with the PR Office. The reduced fees are less than the incoming donations from the Boards so over a period of time, we will reduce the deficit and turn it into a small surplus.
d. Principal risks and uncertainties
The Trustees continue to assess the risks to which the charity is exposed, and in particular to those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to the major risks.
Page 5
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management
a. Constitution
National Council of Shechita Boards of Great Britain is a registered charity, number 263423, and is set up under a Constitution.
The Charity is constituted under Laws adopted on the 9th May 1954, as amended, and adopted at a Meeting of the National Council on the 10th June 2013.
The Charity was registered with the Charity Commission on the 30th June 1972.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.
The Trustees who served in the year were:-
Y Kaufman (deceased) Chairman B Mire Vice Chairman D Pine Vice Chairman L Winter Honorary Treasurer
The Trustees are responsible for the administration of the Shechita Defence Fund (which is included within the general fund), in accordance with the revised Deed of Trust.
The Trusteeship of the fund is shared equally by Trustees nominated by the Trustees of the National Council of Shechita Boards (NCSB) and Trustees nominated by the Honorary Officers of the Board of Deputies of British Jews. However, the fund is administered by the NCSB alone.
The main beneficiary of the fund is Shechita UK (SHUK), which is a community wide campaign that unites Representatives from the Board of Deputies of British Jews, the NCSB, the Union of Orthodox Hebrew Congregations and the Campaign for the Protection of Shechita.
Following a rigorous Tendering Process conducted by the Trustees in September 2018, the PR Office was reselected to conduct work on behalf of SHUK.
SHUK was established to promote awareness and education about the Jewish Religious humane method of despatching animals for food, and to dispel the myths and falsehoods that have all, too often, been used as a means to attack Jews and their religion.
Page 6
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management (continued)
c. Organisational structure and decision-making policies
The Trustees of the NCSB are appointed in accordance with Paragraph 9 of the Constitution (as adopted at the Meeting of the 10th June 2013).
Clause 9 provides that the Members of the Council shall elect a Chairman, two Vice Chairmen and an Honorary Treasurer from amongst its Members.
The Term of Office for each Officer shall be three years, each Term renewable for a further period of three years.
Insofar as is practical, the Chairman and the two Vice Chairmen shall not be Representatives of the same Shechita Board.
The current Trustees were elected to Office, unopposed, following communications with Members of the Council in January 2017.
The late Chairman, Mr Yankel Kaufman, was President of the Gateshead Shechita Board; Mr Benjamin Mire is a Vice President of The London Board for Shechita; Mr David Pine is a former President of the Manchester Shechita Board, and Mr Leo Winter is a Member of The London Board for Shechita.
Elections for a new Chair and Trustees remain outstanding, having been delayed due to the Coronavirus pandemic. In the meantime, Mr Benjamin Mire is Acting Chairman.
Approved by order of the members of the board of Trustees and signed on their behalf by:
B J C Mire (Trustee)
D Pine (Trustee)
Date: 27.10.2021
Page 7
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees are responsible for preparing the Trustees' report 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
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 adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and 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 Constitution. 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 8
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
Independent examiner's report to the Trustees of National Council of Shechita Boards of Great Britain ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2020.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is to drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice .
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:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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.
Signed: Dated: 27.10.2021 Russell Tenzer FCA
Blick Rothenberg Limited
Chartered Accountants Palladium House 1 - 4 Argyll Street London W1F 7LD
Page 9
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Income from: Donations and legacies 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2020 £ 55,434 55,434 95,469 95,469 (40,035) 30,864 (40,035) (9,171) |
Total funds 2020 £ 55,434 55,434 95,469 95,469 (40,035) 30,864 (40,035) (9,171) |
Total funds 2019 £ 95,083 95,083 104,254 104,254 (9,171) 40,035 (9,171) 30,864 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
Page 10
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2020
| 2020 | 2020 | 2019 | 2019 | |||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Current assets | ||||||
| Cash at bank and in hand | 7,221 | 33,264 | ||||
| 7,221 | 33,264 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 9 | (16,392) | (2,400) | |||
| Net current (liabilities) / assets | (9,171) | 30,864 | ||||
| Total assets less current liabilities | (9,171) | 30,864 | ||||
| Total net (liabilities) / assets | (9,171) | 30,864 | ||||
| Charity funds | ||||||
| Unrestricted funds | 11 | (9,171) | 30,864 | |||
| Total funds | (9,171) | 30,864 | ||||
| The financial statements were approved and | authorised for issue by the Trustees and signed on their behalf by: | |||||
| B J C Mire | D Pine | |||||
| (Trustee) | (Trustee) |
Date: 27.10.2021
The notes on pages 12 to 18 form part of these financial statements.
Page 11
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. General information
National Council of Shechita Boards of Great Britain is a charity registered at the Charities Commission with charity number 263423 which is governed by its Constitution. Its principal address is Elscot House, Arcadia Avenue, London, N3 2JU.
The financial statements are presented in Sterling (£).
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the relevant version of the 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) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a ‘true and fair’ view and 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 relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
National Council of Shechita Boards of Great Britain meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Trustees have considered whether the charity has been affected by the economic impact and restrictions that have ensued following the Coronavirus pandemic that has continued since the end of the financial year. Having considered post year-end financial results, cash reserves and forecast income and expenditure, 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. The Trustees are aware that the reserves at the reporting date do not meet the criteria of the reserves policy and are taking necessary steps to ensure over time the deficit is addressed.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Page 12
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.4 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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is shown inclusive of irrecoverable VAT.
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.7 Financial instruments
The Charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the Charity becomes party to the contractual provisions of the instrument.
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
The Charity’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Page 13
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
Financial instruments (continued)
Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the charity would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Page 14
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Employees
The charity had no staff employed during the year under consideration (2019 - Nil).
No employee received remuneration amounting to more than £60,000 during the year
4. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2020 | 2020 | 2019 | |
| £ | £ | £ | |
| Donations | 55,434 | 55,434 | 95,083 |
5. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2020 | 2020 | 2019 | |
| £ | £ | £ | |
| Defence of Shechita | 95,469 | 95,469 | 104,254 |
6. Analysis of expenditure by activities
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | Total | |
| directly | costs | funds | funds | |
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Defence of Shechita | 92,229 | 3,240 | 95,469 | 104,254 |
Page 15
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £3,000 inclusive of VAT (2019 - £2,640 inclusive of VAT).
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 31 December 2020, no Trustee expenses have been incurred (2019 - £NIL).
9. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income Financial instruments Financial assets Financial assets measured at fair value through income and expenditure |
2020 £ 13,392 3,000 16,392 2020 £ 7,221 |
2019 £ - 2,400 |
|---|---|---|
| 2,400 | ||
| 2019 £ 33,264 |
10. Financial instruments
Financial assets measured at fair value through income and expenditure comprise cash at bank.
Page 16
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
11. Statement of funds
Statement of funds - current year
| Unrestricted funds General funds Statement of funds - prior year Unrestricted funds General funds |
Balance at 1 January 2020 £ 30,864 Balance at 1 January 2019 £ 40,035 |
Income £ 55,434 Income £ 95,083 |
Expenditure £ (95,469) Expenditure £ (104,254) |
Balance at 31 December 2020 £ (9,171) Balance at 31 December 2019 £ 30,864 |
|---|---|---|---|---|
12. Analysis of net assets between funds Analysis of net assets between funds - current period
| Unrestricted funds 2020 £ Current assets 7,221 Creditors due within one year (16,392) Total (9,171) |
Total funds 2020 £ 7,221 (16,392) (9,171) |
|---|---|
Page 17
NATIONAL COUNCIL OF SHECHITA BOARDS OF GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
12. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Current assets Creditors due within one year Total Related party transactions Grants received from related parties |
Unrestricted funds 2019 £ 33,264 (2,400) 30,864 2020 £ 38,333 38,333 |
Total funds 2019 £ 33,264 (2,400) 30,864 2019 £ 64,000 64,000 |
|---|---|---|
13. Related party transactions
Grants received from related parties relate to The London Board for Shechita, a related charity, with a common Trustee and shared administrative structure.
Page 18