**REGISTERED CHARITY NUMBER: 292368**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Statement of Trustees' Responsibilities**||3||
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Statement of Financial Position**||6||
|**Notes to the Financial Statements**|7|to|12|
## **THE BRITISH JEWISH HERITAGE SOCIETY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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 2022**
## **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 Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 31 October 2023 and signed on its behalf by:
J Fekete - Trustee
Page 2
## **THE BRITISH JEWISH HERITAGE SOCIETY**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees are responsible for preparing the Report of the Trustees 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 and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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 trust deed. 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 3
## **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 2022.
## **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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
31 October 2023
Page 4
## **THE BRITISH JEWISH HERITAGE SOCIETY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|||31.12.22|31.12.21|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies||-|10,000|
|Investment income|2|272,557|256,656|
|**Total**||272,557|266,656|
|**EXPENDITURE ON**||||
|Raising funds|3|235,670|214,125|
|**Charitable activities**||||
|Charitable||-|10,000|
|Other||2,690|3,390|
|**Total**||238,360|227,515|
|**NET INCOME**||34,197|39,141|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward||732,123|692,982|
|**TOTAL FUNDS CARRIED FORWARD**||766,320|732,123|
The notes form part of these financial statements
Page 5
## **THE BRITISH JEWISH HERITAGE SOCIETY**
## **STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2022**
|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**|31.12.22
Unrestricted
fund
£
2,146,125
174,235
57,500
231,735
(661,462)
(429,727)
1,716,398
(950,078)
766,320
766,320
766,320|31.12.21
Total
funds
£
2,145,265
173,412
71,913
245,325
(675,129)
(429,804)
1,715,461
(983,338)
732,123
732,123
732,123|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2023 and were signed on its behalf by:
J Fekete - Trustee
S Weinstock - Trustee
The notes form part of these financial statements
Page 6
**THE BRITISH JEWISH HERITAGE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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**
|Rents received
Deposit account interest|31.12.22
£
272,202
355
272,557|31.12.21
£
256,527
129|
|---|---|---|
|||256,656|
continued...
Page 7
**THE BRITISH JEWISH HERITAGE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **3. RAISING FUNDS**
## **Investment management costs**
|Administrative expenses
Telephone
Property repairs
Insurance
Cleaning and rubbish removal
Security expenses
Rates and water
Light & heat
Loan interest and charges
Legal and professional fees|31.12.22
£
44,448
197
32,132
21,667
27,498
12,634
10,409
31,105
49,047
6,533
235,670|31.12.21
£
40,000
547
56,212
6,392
27,386
7,510
15,848
15,708
37,368
7,154|
|---|---|---|
|||214,125|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|10,000|
|Investment income|256,656|
|**Total**|266,656|
|**EXPENDITURE ON**||
|Raising funds|214,125|
|**Charitable activities**||
|Charitable|10,000|
|Other|3,390|
|**Total**|227,515|
|**NET INCOME**|39,141|
continued...
Page 8
## **THE BRITISH JEWISH HERITAGE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**6.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 January 2022
Additions
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
Included in investment property is freehold land valued at £900,000 (2021 - £900,000).
Fair value at 31 December 2022 is represented by:
Valuation in 2015
Valuation in 2018
Cost
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.12.22
£
Trade debtors
823
Other debtors
173,412
174,235|Unrestricted
fund
£
692,982
732,123
£
2,145,265
860
2,146,125
2,146,125
2,145,265
£
566,491
65,000
1,514,634
2,146,125
31.12.21
£
-
173,412
173,412|
|---|---|
|||
continued...
Page 9
## **THE BRITISH JEWISH HERITAGE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
|**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 10)
Trade creditors
Taxation and social security
Other creditors
**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 1.1.22
£
**Unrestricted funds**
General fund
732,123
**TOTAL FUNDS**
732,123|31.12.22
£
-
-
2,188
659,274
661,462
31.12.22
£
950,078
31.12.22
£
-
41,204
908,874
Net
movement
in funds
£
34,197
34,197|31.12.21
£
5,292
5,537
6,054
658,246|
|---|---|---|
|||675,129|
|||31.12.21
£
983,338|
|||31.12.21
£
5,292|
|||46,759|
|||936,579
At
31.12.22
£
766,320|
|||766,320|
continued...
Page 10
## **THE BRITISH JEWISH HERITAGE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **11. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
272,557
272,557|Resources
Movement
expended
in funds
£
£
(238,360)
34,197
(238,360)
34,197|Resources
Movement
expended
in funds
£
£
(238,360)
34,197
(238,360)
34,197|
|---|---|---|---|
||||34,197|
## **Comparatives for movement in funds**
|At 1.1.21
£
**Unrestricted funds**
General fund
692,982
**TOTAL FUNDS**
692,982
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
266,656
**TOTAL FUNDS**
266,656
A current year 12 months and prior year 12 months combined position is as follows:
At 1.1.21
£
**Unrestricted funds**
General fund
692,982
**TOTAL FUNDS**
692,982|Net
movement
At
in funds
31.12.21
£
£
39,141
732,123
39,141
732,123
Resources
Movement
expended
in funds
£
£
(227,515)
39,141
(227,515)
39,141
Net
movement
At
in funds
31.12.22
£
£
73,338
766,320
73,338
766,320|At
31.12.21
£
732,123|
|---|---|---|
|||732,123|
|||39,141|
|||At
31.12.22
£
766,320|
|||766,320|
continued...
Page 11
## **THE BRITISH JEWISH HERITAGE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **11. 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:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
539,213
539,213|Resources
Movement
expended
in funds
£
£
(465,875)
73,338
(465,875)
73,338|Resources
Movement
expended
in funds
£
£
(465,875)
73,338
(465,875)
73,338|
|---|---|---|---|
||||73,338|
## **12. RELATED PARTY DISCLOSURES**
During the year under review, loan receivable of £172,000 was outstanding from entity controlled by the trustee.
Page 12