Registered number: 01063992 Charity number: 265104
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements
For the Year Ended 5 April 2021
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 - 7 |
| Notes to the financial statements | 8 - 12 |
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Reference and administrative details of the Company, its Trustees and advisers For the Year Ended 5 April 2021
| Trustees | Mr G Leitner |
|---|---|
| Mr H Feldman (resigned 15 June 2020) | |
| Mr I Heitner (appointed 30 November 2020) | |
| Mr H Bondi (appointed 30 November 2020) | |
| Company registered number 01063992 Charity registered number 265104 Registered office 97 Stamford Hill London N16 5DN Bankers Barclays Bank Kingsland Branch Leicester LE87 2BB |
Page 1
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Trustees' report For the Year Ended 5 April 2021
The Trustees present their annual report together with the financial statements of the Russian Immigrant Aid Fund Ltd for the 6 April 2020 to 5 April 2021. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects of the charity are to advance religion in accordance with the orthodox Jewish faith and for such other purposes as are recognised by English law as charitable.
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 main strategy for achieving its objectives is to make grants to organisations and individuals in line with the charity's objectives.
Achievements and performance
a. Review of activities
The Trustees are pleased with the results of the year. Incoming resources were used to support charitable activities and an in-year surplus was maintained.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The charity aims to maintain sufficient reserves to cover its management expenses.
Structure, governance and management
Page 2
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Trustees' report (continued) For the Year Ended 5 April 2021
Structure, governance and management (continued)
a. Constitution
Russian Immigrant Aid Fund Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Risk management
The Trustees have assessed the major risks to which the Company is exposed, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) 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).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company 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 judgments 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 Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 8 November 2021 and signed on their behalf by:
Mr G Leitner (Trustee)
Page 3
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Independent examiner's report For the Year Ended 5 April 2021
Independent examiner's report to the Trustees of Russian Immigrant Aid Fund Limited ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 5 April 2021.
Responsibilities and basis of report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
This report is made solely to the Company'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 Company'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 Company and the Company's Trustees as a body, for my work or for this report.
Signed: Dated: 8 November 2021 F Lazega FCCA Accshire Accountancy LLP Rear Entrance 123 Clapton Common London E5 9AB
Page 4
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the Year Ended 5 April 2021
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds 5 Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 239,558 43 239,601 14,291 209,943 224,234 15,367 8,522 15,367 23,889 |
Total funds 2021 £ 239,558 43 239,601 14,291 209,943 224,234 15,367 8,522 15,367 23,889 |
Total funds 2020 £ 238,513 56 238,569 13,975 240,646 254,621 (16,052) 24,574 (16,052) 8,522 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 12 form part of these financial statements.
Page 5
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee) Registered number: 01063992
Balance sheet As at 5 April 2021
| Note Fixed assets Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 13 Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
52,250 22,839 75,089 (1,200) |
2021 £ - 73,889 73,889 (50,000) 23,889 23,889 - 23,889 23,889 |
10,000 1,162 11,162 (2,640) |
2020 £ |
|---|---|---|---|---|
| - 8,522 |
||||
| 8,522 - |
||||
| 8,522 | ||||
| 8,522 | ||||
| - 8,522 |
||||
| 8,522 |
Page 6
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee) Registered number: 01063992
Balance sheet (continued) As at 5 April 2021
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 08 November 2021 and signed on their behalf by:
Mr G Leitner (Trustee)
The notes on pages 8 to 12 form part of these financial statements.
Page 7
RUSSIAN IMMIGRANT AID FUND LIMITED (A company limited by guarantee)
Notes to the financial statements For the Year Ended 5 April 2021
1. General information
Russian Immigrant Aid Fund Limited is registered as a charitable company limited by guarantee with registered address at 97 Stamford Hill, London, N16 5DN.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Russian Immigrant Aid Fund Limited 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 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 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 raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 8
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 5 April 2021
2. Accounting policies (continued)
2.4 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 Company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| £ | £ | £ | |
| Donations | 239,558 | 239,558 | 238,513 |
4. Investment income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| £ | £ | £ | |
| Interest receivable | 43 | 43 | 56 |
5. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| £ | £ | £ | |
| Costs of raising voluntary income | 14,291 | 14,291 | 13,975 |
Page 9
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 5 April 2021
5. Expenditure on raising funds (continued)
6. Analysis of grants
| Grants to | Grants to | Total | Total | |
|---|---|---|---|---|
| Institutions | Individuals | funds | funds | |
| 2021 | 2021 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Grants | 202,016 | 495 | 202,511 | 230,845 |
The Company has made the following material grants to institutions during the year:
| Name of institution Vaadat Hatzala - advancement of religion Beit David - advancement of religion Other grants to institutions |
2021 £ 190,500 6,000 |
|---|---|
| 196,500 5,516 |
|
| 202,016 |
7. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| £ | £ | £ | |
| Direct costs | 209,943 | 209,943 | 240,646 |
Page 10
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 5 April 2021
8. Analysis of expenditure by activities
| Activities | Grant | ||||
|---|---|---|---|---|---|
| undertaken | funding of | Support | Total | Total | |
| directly | activities | costs | funds | funds | |
| 2021 | 2021 | 2021 | 2021 | 2020 | |
| £ | £ | £ | £ | £ | |
| Direct costs | 5,552 | 202,511 | 1,881 | 209,944 | 240,646 |
9. Independent examiner's remuneration
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's independent examiner for the independent | ||
| examination of the Company's annual accounts | 540 | 540 |
| Fees payable to the Company's independent examiner in respect of: | ||
| All other services not included above | 660 | 660 |
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) . During the year ended 5 April 2021, no Trustee expenses have been incurred (2020 - £NIL) .
11. Debtors
| Due after more than one year Other debtors Due within one year Other debtors |
2021 £ 51,100 51,100 1,150 52,250 |
2020 £ 10,000 |
|---|---|---|
| 10,000 - |
||
| 10,000 |
Page 11
RUSSIAN IMMIGRANT AID FUND LIMITED
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 5 April 2021
12. Creditors: Amounts falling due within one year
| Accruals and deferred income 13. Creditors: Amounts falling due after more than one year Bank loans |
2021 £ 1,200 2021 £ 50,000 |
2020 £ 2,640 |
|---|---|---|
| 2020 £ - |
14. Summary of funds
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 6 April 2020 £ 8,522 Balance at 1 April 2019 £ 24,574 |
Income £ 239,601 Income £ 238,569 |
Expenditure £ (224,234) Expenditure £ (254,621) |
Balance at 5 April 2021 £ 23,889 |
|---|---|---|---|---|
| Balance at 5 April 2020 £ 8,522 |
Page 12