REGISTERED CHARITY NUMBER: 292368
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023
| 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 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 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 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
Charitable activities
During the period under review the charity received donations amounting to £45,001 (2022: £Nil).
Investment performance
During the period under review the charity received investment income in the form of rent that amounted to £294,738 [2022 - £272,202].
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.
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THE BRITISH JEWISH HERITAGE SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a trust deed 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
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, ACA Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 5 November 2024 and signed on its behalf by:
J Fekete - Trustee
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THE BRITISH JEWISH HERITAGE SOCIETY
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023
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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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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.
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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 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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, ACA
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
5 November 2024
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THE BRITISH JEWISH HERITAGE SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 45,001 | - | |
| Investment income | 2 | 295,623 | 272,557 |
| Total | 340,624 | 272,557 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 280,269 | 235,670 |
| Other | 3,168 | 2,690 | |
| Total | 283,437 | 238,360 | |
| NET INCOME | 57,187 | 34,197 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 766,320 | 732,123 | |
| TOTAL FUNDS CARRIED FORWARD | 823,507 | 766,320 |
The notes form part of these financial statements
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THE BRITISH JEWISH HERITAGE SOCIETY
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023
| Notes FIXED ASSETS Investment property 6 CURRENT ASSETS Debtors 7 Cash at bank 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 |
31.12.23 Unrestricted fund £ 2,146,125 131,366 51,182 182,548 (581,987) (399,439) 1,746,686 (923,179) 823,507 823,507 823,507 |
31.12.22 Total funds £ 2,146,125 174,235 57,500 231,735 (661,462) (429,727) 1,716,398 (950,078) 766,320 766,320 766,320 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 5 November 2024 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 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.
Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
Governance costs
Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include independent examination, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts.
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.
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.
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
2. INVESTMENT INCOME
| Rents received Deposit account interest 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 |
31.12.23 £ 294,738 885 295,623 31.12.23 £ 46,910 178 30,138 22,715 26,996 19,952 9,218 48,372 75,790 - 280,269 |
31.12.22 £ 272,202 355 |
|---|---|---|
| 272,557 | ||
| 31.12.22 £ 44,448 197 32,132 21,667 27,498 12,634 10,409 31,105 49,047 6,533 |
||
| 235,670 |
3. RAISING FUNDS
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 272,557 |
| EXPENDITURE ON | |
| Raising funds | 235,670 |
| Other | 2,690 |
| Total | 238,360 |
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 6. INVESTMENT PROPERTY FAIR VALUE At 1 January 2023 and 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 Included in investment property is freehold land valued at £900,000 (2022 - £900,000). Fair value at 31 December 2023 is represented by: Valuation in 2015 Valuation in 2018 Cost 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 £ Trade debtors 37,561 Other debtors 93,805 131,366 |
Unrestricted fund £ 34,197 732,123 766,320 £ 2,146,125 2,146,125 2,146,125 £ 566,491 65,000 1,514,634 2,146,125 31.12.22 £ 823 173,412 174,235 |
|---|---|
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 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 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 1.1.23 £ Unrestricted funds General fund 766,320 TOTAL FUNDS 766,320 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 340,624 TOTAL FUNDS 340,624 |
31.12.23 31.12.22 £ £ 3,139 2,188 578,848 659,274 581,987 661,462 31.12.23 31.12.22 £ £ 923,179 950,078 31.12.23 31.12.22 £ £ 35,648 41,204 887,531 908,874 Net movement At in funds 31.12.23 £ £ 57,187 823,507 57,187 823,507 Resources Movement expended in funds £ £ (283,437) 57,187 (283,437) 57,187 |
31.12.22 £ 2,188 659,274 |
|---|---|---|
| 661,462 | ||
| 31.12.22 £ 950,078 |
||
| 31.12.22 £ 41,204 |
||
| 908,874 At 31.12.23 £ 823,507 |
||
| 823,507 | ||
| 57,187 |
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.22 £ Unrestricted funds General fund 732,123 TOTAL FUNDS 732,123 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 272,557 TOTAL FUNDS 272,557 A current year 12 months and prior year 12 months combined position is as follows: At 1.1.22 £ Unrestricted funds General fund 732,123 TOTAL FUNDS 732,123 |
Net movement At in funds 31.12.22 £ £ 34,197 766,320 34,197 766,320 Resources Movement expended in funds £ £ (238,360) 34,197 (238,360) 34,197 Net movement At in funds 31.12.23 £ £ 91,384 823,507 91,384 823,507 |
At 31.12.22 £ 766,320 |
|---|---|---|
| 766,320 | ||
| 34,197 | ||
| At 31.12.23 £ 823,507 |
||
| 823,507 |
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 £ 613,181 613,181 |
Resources Movement expended in funds £ £ (521,797) 91,384 (521,797) 91,384 |
Resources Movement expended in funds £ £ (521,797) 91,384 (521,797) 91,384 |
|---|---|---|---|
| 91,384 |
continued...
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THE BRITISH JEWISH HERITAGE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
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