**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.
Page 1
**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
Page 2
## **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
- 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 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:
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, ACA
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
5 November 2024
Page 4
## **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
Page 5
## **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
Page 6
**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...
Page 7
**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...
Page 8
## **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...
Page 9
## **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...
Page 10
**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...
Page 11
**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.
Page 12