REGISTERED CHARITY NUMBER: 287351
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
FRIENDS OF BE'ER AVROHOM SLONIM
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
FRIENDS OF BE'ER AVROHOM SLONIM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
FRIENDS OF BE'ER AVROHOM SLONIM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 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
Friends of Be'er Avrohom Slonim is a charity constituted by declaration of trust, dated 24th April 1983 and registered as a charity on 1st February 1984.
The principal objectives of charity are to advance education in and the religion of the Orthodox Jewish Faith.
Significant activities
The main sources of income for the charity are donations from various institutions and individuals. During the year the charity made donations to various advanced educational and Orthodox Jewish religious institutions.
Public benefit
The trustees confirm that they have referred to the guidance contained in the charity commission's general guidance on public benefit when reviewing the charity's aim and objectives and in planning future activities and setting the grant making policy for the year.
The charity was set up to support the activities of religious Jewish organisations especially in the field of education. The trustees identify institutions and organisations which meet its criteria and regularly support a number of these institutions and organisations, which themselves are growing not only in England but also worldwide.
Grantmaking
The charity accepts applications for grants from representatives of various charities, which are reviewed by the trustees on a regular basis.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity continued its activities and maintained its support of religious educational and other charitable institutions in England and abroad. The charity is dependent on income from investments and voluntary donations The charity received donations of £311,993 (2022- £106,323) and rental income of £16,163 (2022 - £15,600) during the year. The charity made donations of £155,800 (2022- £167,700) during the year.
FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of fund to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions .
FUTURE PLANS
There are no current plans to change the activities or modus operandi in the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document a declaration of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Related parties
No related parties transaction to report during the year.
Risk management
The trustees 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.
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FRIENDS OF BE'ER AVROHOM SLONIM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 287351
Principal address
38 Riverside Road Stamford Hill London N15 6DA
Trustees
S M Grohman Mrs V Grohman Mrs P Margolis B A Margalit
Independent Examiner
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 10 August 2023 and signed on its behalf by:
S M Grohman - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF BE'ER AVROHOM SLONIM
Independent examiner's report to the trustees of FRIENDS OF BE'ER AVROHOM SLONIM
I report to the charity trustees on my examination of the accounts of FRIENDS OF BE'ER AVROHOM SLONIM (the Trust) for the year ended 31 March 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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.
M. A. Venitt A.C.A The Institute of Chartered Accountants in England and Wales
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
10 August 2023
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FRIENDS OF BE'ER AVROHOM SLONIM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 31.3.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 311,993 Investment income 2 16,163 Total 328,156 EXPENDITURE ON Raising funds 3 9,240 Charitable activities 4 GENERAL 156,220 Other 990 Total 166,450 NET INCOME/(EXPENDITURE) 161,706 RECONCILIATION OF FUNDS Total funds brought forward 270,400 TOTAL FUNDS CARRIED FORWARD 432,106 |
31.3.22 Total funds £ 106,323 15,600 121,923 625 167,700 780 169,105 (47,182) 317,582 270,400 |
|---|---|
The notes form part of these financial statements
Page 4
FRIENDS OF BE'ER AVROHOM SLONIM
STATEMENT OF FINANCIAL POSITION 31 MARCH 2023
| 31.3.23 Unrestricted fund Notes £ FIXED ASSETS Investment property 7 252,915 CURRENT ASSETS Cash at bank 180,031 CREDITORS Amounts falling due within one year 8 (840) NET CURRENT ASSETS 179,191 TOTAL ASSETS LESS CURRENT LIABILITIES 432,106 NET ASSETS 432,106 FUNDS 9 Unrestricted funds 432,106 TOTAL FUNDS 432,106 |
31.3.22 Total funds £ 252,915 18,265 (780) 17,485 270,400 270,400 270,400 270,400 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 10 August 2023 and were signed on its behalf by:
S M Grohman - Trustee
V Grohman - Trustee
The notes form part of these financial statements
Page 5
FRIENDS OF BE'ER AVROHOM SLONIM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Rents received | 16,163 | 15,600 |
Page 6
continued...
FRIENDS OF BE'ER AVROHOM SLONIM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
3. RAISING FUNDS
Investment management costs
| Investment management costs | |||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Ground rent & service charges | 9,240 | - | |
| Repairs | - | 625 | |
| 9,240 | 625 | ||
| CHARITABLE ACTIVITIES COSTS | |||
| Grant | |||
| funding of | Support | ||
| activities | costs | Totals | |
| £ | £ | £ | |
| GENERAL | 155,800 | 420 | 156,220 |
4. CHARITABLE ACTIVITIES COSTS
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 106,323 |
| Investment income | 15,600 |
| Total | 121,923 |
| EXPENDITURE ON | |
| Raising funds | 625 |
| Charitable activities | |
| GENERAL | 167,700 |
| Other | 780 |
| Total | 169,105 |
| NET INCOME/(EXPENDITURE) | (47,182) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 317,582 |
continued...
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FRIENDS OF BE'ER AVROHOM SLONIM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|---|
| Unrestricted | |||||
| fund | |||||
| £ | |||||
| TOTAL FUNDS CARRIED FORWARD | 270,400 | ||||
| 7. | INVESTMENT PROPERTY | ||||
| £ | |||||
| FAIR VALUE | |||||
| At 1 April 2022 | |||||
| and 31 March 2023 | 252,915 | ||||
| NET BOOK VALUE | |||||
| At 31 March 2023 | 252,915 | ||||
| At 31 March 2022 | 252,915 | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.23 | 31.3.22 | ||||
| £ | £ | ||||
| Other creditors | 840 | 780 | |||
| 9. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At | 1.4.22 | in funds | 31.3.23 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 270,400 | 161,706 | 432,106 | ||
| TOTAL FUNDS | 270,400 | 161,706 | 432,106 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 328,156 | (166,450) | 161,706 | ||
| TOTAL FUNDS | 328,156 | (166,450) | 161,706 |
continued...
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FRIENDS OF BE'ER AVROHOM SLONIM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.21 £ 317,582 317,582 |
Net movement in funds £ (47,182) (47,182) |
At 31.3.22 £ 270,400 |
|---|---|---|---|
| 270,400 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 121,923 121,923 |
Resources Movement expended in funds £ £ (169,105) (47,182) (169,105) (47,182) |
Resources Movement expended in funds £ £ (169,105) (47,182) (169,105) (47,182) |
|---|---|---|---|
| (47,182) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.21 £ 317,582 317,582 |
Net movement in funds £ 114,524 114,524 |
At 31.3.23 £ 432,106 |
|---|---|---|---|
| 432,106 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 450,079 450,079 |
Resources Movement expended in funds £ £ (335,555) 114,524 (335,555) 114,524 |
Resources Movement expended in funds £ £ (335,555) 114,524 (335,555) 114,524 |
|---|---|---|---|
| 114,524 |
continued...
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FRIENDS OF BE'ER AVROHOM SLONIM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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