REGISTERED CHARITY NUMBER: 292368
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
THE BRITISH JEWISH HERITAGE SOCIETY
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
THE BRITISH JEWISH HERITAGE SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| 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 | 11 |
THE BRITISH JEWISH HERITAGE SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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 objects of the charity are the furtherance of the Orthodox Jewish religion by way of support to educational institutions, assisting in the reduction of poverty and granting help for charitable causes at the discretion of the trustees.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and in particular to its supplementary public benefit guidance on advancing education, when reviewing the charity's aims and objectives, and in planning future activities and setting grant making policy for the year.
Grantmaking
The trustees obtain details of all requests for assistance and ensure that good recommendations are received before any payments are made.
ACHIEVEMENT AND PERFORMANCE
During the year we have continued to allow local charitable organisations use the centre and rent shops at a low rate. There are 4 shops that are rented to local enterprise at reduced rent and nominal service charges, each leading to an average of £5,000 of their normal commitment. In addition the Dover Big Local in conjunction with the Community Café hold events for disadvantage local people in the Atrium for which we make no charge. These are day time, evening and weekend engagements which in themselves bring a vibrancy to the centre in the hope of attracting more commercial customers and users. In addition to supporting the 4 shop enterprises, we have given a £6,000 concession on the rent to Migrant Help who have taken the residential flats to give respite and temporary homes to abused and trafficked immigrants. We are delighted to assist with this essential work.
FINANCIAL REVIEW
Principal funding sources
The charity is dependent on the investment income it receives from its investment property.
Investment policy and objectives
Under the Trust Deed the charity has the power to make any investment which the trustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy. The trustees believe their experience within the UK investment property market, together with external advice as appropriate, will maximise the charity's income from its investments.
Reserves policy
The trustees try to ensure that the charity retains sufficient funds to cover immediate anticipated outgoings. They have contacts at all times with potential donors who are able to assist with the charity's requirements.
FUTURE PLANS
The Trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
THE BRITISH JEWISH HERITAGE SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
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
Details of transactions with related parties are disclosed in the notes to the financial statements.
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
292368
Principal address
27C Chardmore Road South Tottenham London N16 6JA
Trustees
J Fekete S Weinstock S Landy A I Yozef
Independent Examiner
Malcolm Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 8 November 2021 and signed on its behalf by:
J Fekete - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRITISH JEWISH HERITAGE SOCIETY
Independent examiner's report to the trustees of The British Jewish Heritage Society
I report to the charity trustees on my examination of the accounts of The British Jewish Heritage Society (the Trust) for the year ended 31 December 2020.
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 registered member of A.C.A 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.
Malcolm Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
8 November 2021
Page 3
THE BRITISH JEWISH HERITAGE SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 12,170 | 72,000 | |
| Investment income | 2 | 239,722 | 228,358 |
| Total | 251,892 | 300,358 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 199,159 | 208,717 |
| Charitable activities | |||
| Charitable | 186 | 159 | |
| Other | 7,155 | 10,446 | |
| Total | 206,500 | 219,322 | |
| NET INCOME | 45,392 | 81,036 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 647,590 | 566,554 | |
| TOTAL FUNDS CARRIED FORWARD | 692,982 | 647,590 |
The notes form part of these financial statements
Page 4
THE BRITISH JEWISH HERITAGE SOCIETY
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2020
| Notes FIXED ASSETS Investment property 6 CURRENT ASSETS Debtors 7 Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.12.20 Unrestricted fund £ 2,145,265 310,619 60,611 371,230 (805,877) (434,647) 1,710,618 (1,017,636 ) 692,982 692,982 692,982 |
31.12.19 Total funds £ 2,145,265 160,758 57,406 218,164 (725,714) (507,550) 1,637,715 (990,125) 647,590 647,590 647,590 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 November 2021 and were signed on its behalf by:
J Fekete - Trustee
S Weinstock - Trustee
The notes form part of these financial statements
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
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.
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.
2.
INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Rents received Deposit account interest |
31.12.20 £ 239,722 - 239,722 |
31.12.19 £ 228,354 4 |
| 228,358 |
3. RAISING FUNDS
Investment management costs
| Administrative expenses Property repairs Insurance Cleaning and rubbish removal Security expenses Rates and water Light & heat Loan interest and charges |
31.12.20 £ 39,107 49,680 20,018 18,363 6,156 11,311 15,752 38,772 199,159 |
31.12.19 £ 42,930 52,643 1,399 28,765 4,746 11,255 23,556 43,423 |
|---|---|---|
| 208,717 |
Page 6
continued...
THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 72,000 |
| Investment income | 228,358 |
| Total | 300,358 |
| EXPENDITURE ON | |
| Raising funds | 208,717 |
| Charitable activities | |
| Charitable | 159 |
| Other | 10,446 |
| Total | 219,322 |
| NET INCOME | 81,036 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 566,554 |
| TOTAL FUNDS CARRIED FORWARD | 647,590 |
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
6. INVESTMENT PROPERTY
| INVESTMENT PROPERTY | |
|---|---|
| FAIR VALUE At 1 January 2020 and 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 |
£ 2,145,265 |
| 2,145,265 | |
| 2,145,265 |
Included in investment property is freehold land valued at £900,000 (2019 - £900,000).
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors VAT CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 10) Trade creditors Taxation and social security Other creditors |
31.12.20 £ 21,404 289,215 - 310,619 31.12.20 £ 5,292 135,802 563 664,220 805,877 |
31.12.19 £ 21,404 137,215 2,139 |
|---|---|---|
| 160,758 | ||
| 31.12.19 £ 5,292 135,803 - 584,619 |
||
| 725,714 |
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
| 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 10) 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 11. MOVEMENT IN FUNDS At 1.1.20 £ Unrestricted funds General fund 647,590 TOTAL FUNDS 647,590 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 251,892 TOTAL FUNDS 251,892 |
31.12.20 £ 1,017,636 31.12.20 £ 5,292 50,000 967,636 Net movement in funds £ 45,392 45,392 Resources expended £ (206,500) (206,500) |
31.12.19 £ 990,125 |
|
|---|---|---|---|
| 31.12.19 £ 5,292 - 990,125 At 31.12.20 £ 692,982 692,982 Movement in funds £ 45,392 45,392 |
31.12.19 £ 5,292 |
||
| - | |||
| 990,125 At 31.12.20 £ 692,982 |
|||
| 692,982 | |||
| 45,392 |
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.19 £ Unrestricted funds General fund 566,554 TOTAL FUNDS 566,554 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 300,358 TOTAL FUNDS 300,358 |
Net movement At in funds 31.12.19 £ £ 81,036 647,590 81,036 647,590 Resources Movement expended in funds £ £ (219,322) 81,036 (219,322) 81,036 |
At 31.12.19 £ 647,590 |
|---|---|---|
| 647,590 | ||
| 81,036 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.19 £ 566,554 566,554 |
Net movement in funds £ 126,428 126,428 |
At 31.12.20 £ 692,982 |
|---|---|---|---|
| 692,982 |
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 £ 552,250 552,250 |
Resources Movement expended in funds £ £ (425,822) 126,428 (425,822) 126,428 |
Resources Movement expended in funds £ £ (425,822) 126,428 (425,822) 126,428 |
|---|---|---|---|
| 126,428 |
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
Page 11