REGISTERED CHARITY NUMBER: 281384
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2023
for
Keren Hatorah
Martin+Heller 5 North End Road London NW11 7RJ
Keren Hatorah
Contents of the Financial Statements for the Year Ended 5 April 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Keren Hatorah
Report of the Trustees for the Year Ended 5 April 2023
The trustees present their report with the financial statements of the charity for the year ended 5 April 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 charity publishes books and papers on Jewish studies and items of Jewish interest.
Public benefit
The trustee confirms his compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Risk management
The trustee have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
281384
Principal address
97 Stamford Hill London N16 5DN
Trustees
H Bondi S Hecht
Independent Examiner
Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ S Hecht - Trustee
Page 1
Independent Examiner's Report to the Trustees of Keren Hatorah
Independent examiner's report to the trustees of Keren Hatorah
I report to the charity trustees on my examination of the accounts of Keren Hatorah (the Trust) for the year ended 5 April 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:
-
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.
A Heller FCA
Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 2
Keren Hatorah
Statement of Financial Activities for the Year Ended 5 April 2023
| 5.4.23 | 5.4.22 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 148,664 | 107,968 |
| Other trading activities | 3 | 97,060 | 81,190 |
| Total | 245,724 | 189,158 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Donations made | |||
| 90,000 | - | ||
| Charitable activities | 197,807 | 190,389 | |
| Other | 4,787 | 3,586 | |
| Total | 292,594 | 193,975 | |
| NET INCOME/(EXPENDITURE) | (46,870) | (4,817) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 202,996 | 207,813 | |
| TOTAL FUNDS CARRIED FORWARD | 156,126 | 202,996 |
The notes form part of these financial statements
Page 3
Keren Hatorah
Balance Sheet 5 April 2023
| 5.4.23 | 5.4.22 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 7 | 560 | 649 |
| CURRENT ASSETS | |||
| Debtors | 8 | 54,542 | 56,085 |
| Cash at bank | 170,471 | 219,786 | |
| 225,013 | 275,871 | ||
| CREDITORS | |||
| Amounts falling due within one year | 9 | (34,930) | (33,493) |
| NET CURRENT ASSETS | 190,083 | 242,378 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 190,643 | 243,027 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 10 | (34,517) | (40,031) |
| NET ASSETS | 156,126 | 202,996 | |
| FUNDS | 12 | ||
| Unrestricted funds | 156,126 | 202,996 | |
| TOTAL FUNDS | 156,126 | 202,996 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S Hecht - Trustee
The notes form part of these financial statements
Page 4
Keren Hatorah
Notes to the Financial Statements for the Year Ended 5 April 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 5.4.23 | 5.4.22 | |
| £ | £ | |
| Donations | 148,664 | 107,968 |
Page 5
continued...
Keren Hatorah
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
3. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 5.4.23 | 5.4.22 | |
| £ | £ | |
| Advertising sales and subscrip | 274,242 | 319,925 |
| Cost of publications | (177,182) | (238,735) |
| 97,060 | 81,190 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Secretarial and management No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Total EXPENDITURE ON Charitable activities Charitable activities Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward |
5.4.23 5.4.22 17 17 Unrestricted fund £ 107,968 81,190 189,158 190,389 3,586 193,975 (4,817) 207,813 |
|---|---|
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Page 6
continued...
Keren Hatorah
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| TOTAL FUNDS CARRIED FORWARD | 202,996 | |||
| 7. | TANGIBLE FIXED ASSETS | |||
| Plant and | Computer | |||
| machinery | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 6 April 2022 | 9,680 | 4,029 | 13,709 | |
| Additions | 99 | - | 99 | |
| At 5 April 2023 | 9,779 | 4,029 | 13,808 | |
| DEPRECIATION | ||||
| At 6 April 2022 | 9,100 | 3,960 | 13,060 | |
| Charge for year | 170 | 18 | 188 | |
| At 5 April 2023 | 9,270 | 3,978 | 13,248 | |
| NET BOOK VALUE | ||||
| At 5 April 2023 | 509 | 51 | 560 | |
| At 5 April 2022 | 580 | 69 | 649 | |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 5.4.23 | 5.4.22 | |||
| £ | £ | |||
| Trade debtors | 31,449 | 31,174 | ||
| Other debtors | 23,093 | 24,911 | ||
| 54,542 | 56,085 |
continued...
Page 7
Keren Hatorah
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 5.4.23 | 5.4.22 | |||
|---|---|---|---|---|
| £ | £ | |||
| Bank loans and overdrafts (see note 11) | 5,000 | 5,000 | ||
| Taxation and social security | 25,030 | 24,793 | ||
| Other creditors | 4,900 | 3,700 | ||
| 34,930 | 33,493 | |||
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE | YEAR | ||
| 5.4.23 | 5.4.22 | |||
| £ | £ | |||
| Bank loans (see note 11) | 34,517 | 40,031 | ||
| 11. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 5.4.23 | 5.4.22 | |||
| £ | £ | |||
| Amounts falling due within one year on demand: | ||||
| Bank loans | 5,000 | 5,000 | ||
| Amounts falling between one and two years: | ||||
| Bank loans - 1-2 years | 10,000 | 10,000 | ||
| Amounts falling due between two and five years: | ||||
| Bank loans - 2-5 years | 24,517 | 30,000 | ||
| Amounts falling due in more than five years: | ||||
| Repayable by instalments: | ||||
| Bank loans more 5 yr by instal | - | 31 | ||
| 12. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | ||||
| At 6/4/22 | in funds | At 5/4/23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 202,996 | (46,870) | 156,126 | |
| TOTAL FUNDS | 202,996 | (46,870) | 156,126 |
continued...
Page 8
Keren Hatorah
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 245,724 | (292,594) | (46,870) |
| TOTAL FUNDS | 245,724 | (292,594) | (46,870) |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | |||
| At 6/4/21 | in funds | At 5/4/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 207,813 | (4,817) | 202,996 |
| TOTAL FUNDS | 207,813 | (4,817) | 202,996 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 189,158 | (193,975) | (4,817) |
| TOTAL FUNDS | 189,158 | (193,975) | (4,817) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | |||
| At 6/4/21 | in funds | At 5/4/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 207,813 | (51,687) | 156,126 |
| TOTAL FUNDS | 207,813 | (51,687) | 156,126 |
continued...
Page 9
Keren Hatorah
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 434,882 | (486,569) | (51,687) |
| TOTAL FUNDS | 434,882 | (486,569) | (51,687) |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2023.
Page 10
Keren Hatorah
Detailed Statement of Financial Activities for the Year Ended 5 April 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Advertising sales and subscrip Cost of publications Total incoming resources EXPENDITURE Charitable activities Wages Furlough receipts Subscriptions Postage, stationery, telephone and IT expenses Sundries Plant and machinery Computer equipment Grants to institutions Support costs Finance Bank charges Governance costs Accountancy Total resources expended Net expenditure |
5.4.23 £ 148,664 274,242 (177,182) 97,060 245,724 180,420 - - 12,291 4,909 170 17 90,000 287,807 3,587 1,200 292,594 (46,870) |
5.4.22 £ 107,968 319,925 (238,735) 81,190 189,158 196,760 (23,219) 673 13,167 2,840 145 23 - 190,389 2,386 1,200 193,975 (4,817) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 11