REGISTERED CHARITY NUMBER: 295361
Report of the Trustees and
Financial Statements for the Year Ended 30 September 2022
for
The Jewish Children's Holiday Fund
Parker Cavendish Chartered Accountants 28 Church Road Stanmore Middlesex HA7 4XR
The Jewish Children's Holiday Fund
Contents of the Financial Statements for the Year Ended 30 September 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Statement of Financial Position | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
The Jewish Children's Holiday Fund
Report of the Trustees for the Year Ended 30 September 2022
The trustees present their report with the financial statements of the charity for the year ended 30 September 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 main object of the charity is to provide holidays for children in need.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
295361
Principal address
Mr R Aarons c/o Brooks Green 342 Regents Park Road London N3 2LJ
Trustees
Mrs J Kemble JP D Freedman Mrs T Hersh
Independent Examiner
Parker Cavendish Chartered Accountants 28 Church Road Stanmore Middlesex HA7 4XR
FINANCIAL RESERVES
The trustees consider that the reserves are sufficient to meet the expected needs of the charity.
Approved by order of the board of trustees on 15 June 2023 and signed on its behalf by:
D Freedman - Trustee
1
Independent Examiner's Report to the Trustees of The Jewish Children's Holiday Fund
Independent examiner's report to the trustees of The Jewish Children's Holiday Fund
I report to the charity trustees on my examination of the accounts of The Jewish Children's Holiday Fund (the Trust) for the year ended 30 September 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
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 2. 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.
Raymond Rubenstein
Parker Cavendish Chartered Accountants 28 Church Road Stanmore Middlesex HA7 4XR
15 June 2023
2
The Jewish Children's Holiday Fund
Statement of Financial Activities for the Year Ended 30 September 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Governance costs Grants to youth organisations for holidays Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted fund £ 3,490 53,514 57,004 12,682 7,159 119,800 139,641 (287,168) (369,805) 2,403,847 2,034,042 |
2021 Total funds £ 12,754 49,675 |
|---|---|---|
| 62,429 | ||
| 8,886 7,877 130,560 |
||
| 147,323 | ||
| 303,749 | ||
| 218,855 2,184,992 |
||
| 2,403,847 |
The notes form part of these financial statements
3
The Jewish Children's Holiday Fund
Statement of Financial Position 30 September 2022
| Notes FIXED ASSETS Investments 6 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds TOTAL FUNDS |
2022 Unrestricted fund £ 1,992,782 47,170 (5,910) 41,260 2,034,042 2,034,042 2,034,042 2,034,042 |
2021 Total funds £ 2,018,748 389,179 (4,080) 385,099 2,403,847 2,403,847 2,403,847 2,403,847 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 15 June 2023 and were signed on its behalf by:
D Freedman - Trustee
The notes form part of these financial statements
4
The Jewish Children's Holiday Fund
Notes to the Financial Statements for the Year Ended 30 September 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
-
the requirements of Section 7 Statement of Cash Flows;
-
the requirement of paragraph 3.17(d);
-
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
-
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
-
the requirement of paragraph 33.7.
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.
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.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Dividends & interest | 53,514 | 49,675 |
continued...
5
The Jewish Children's Holiday Fund
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Support costs | 12,682 | 8,886 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2022 nor for the year ended 30 September 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Governance costs Grants to youth organisations for holidays Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 12,754 49,675 |
|---|---|
| 62,429 | |
| 8,886 7,877 130,560 |
|
| 147,323 | |
| 303,749 | |
| 218,855 2,184,992 |
|
| 2,403,847 |
continued...
6
The Jewish Children's Holiday Fund
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 October 2021 Additions-Listed investments Disposals-Listed investments Revaluations-Listed investments At 30 September 2022 NET BOOK VALUE At 30 September 2022 At 30 September 2021 |
Listed investments £ 2,018,748 399,651 (156,984) (268,633) 1,992,782 1,992,782 2,018,748 |
|---|---|
There were no investment assets outside the UK.
Cash deposit of £5,769 (2021: £326,837) were held as part of the investment portfolio which is included within cash at bank and in hand.
Material holdings over 5% of the portfolio value include: UK Fixed Interest International Fixed Interest UK Equities North American Equities Japan, Far East & Emerging Markets International and Thematic Hedge Funds & Alternatives Structured Return
Cost or valuation at 30 September 2022 is represented by:
| Valuation in 2017 Valuation in 2018 Valuation in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Cost |
Listed investments £ 33,185 (79,035) (136,888) (230,918) (48,285) (25,966) 2,480,689 1,992,782 |
|---|---|
continued...
7
The Jewish Children's Holiday Fund
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 8. MOVEMENT IN FUNDS At 1.10.21 £ Unrestricted funds General fund 2,403,847 TOTAL FUNDS 2,403,847 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 57,004 (139,641) TOTAL FUNDS 57,004 (139,641) Comparatives for movement in funds At 1.10.20 £ Unrestricted funds General fund 2,184,992 TOTAL FUNDS 2,184,992 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 62,429 (147,323) TOTAL FUNDS 62,429 (147,323) |
2022 £ 5,910 Net movement in funds £ (369,805) (369,805) Gains and losses £ (287,168) (287,168) Net movement in funds £ 218,855 218,855 Gains and losses £ 303,749 303,749 |
2021 £ 4,080 At 30.9.22 £ 2,034,042 2,034,042 Movement in funds £ (369,805) (369,805) At 30.9.21 £ 2,403,847 2,403,847 Movement in funds £ 218,855 218,855 |
|
|---|---|---|---|
continued...
8
The Jewish Children's Holiday Fund
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.10.20 £ 2,184,992 2,184,992 |
Net movement in funds £ (150,950) (150,950) |
At 30.9.22 £ 2,034,042 |
|---|---|---|---|
| 2,034,042 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 119,433 | (286,964) | 16,581 | (150,950) |
| TOTAL FUNDS | 119,433 | (286,964) | 16,581 | (150,950) |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2022.
9
The Jewish Children's Holiday Fund
Detailed Statement of Financial Activities for the Year Ended 30 September 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations & grants Investment income Dividends & interest Total incoming resources EXPENDITURE Charitable activities Grants to youth organisations for holidays Support costs Management Accountancy Insurance Postage, stationery & advertising Secretarial Investment portfolio management fees Finance Bank charges Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/losses on investments Net (expenditure)/income |
2022 £ 3,490 53,514 57,004 119,800 2,160 503 616 3,750 12,682 19,711 130 139,641 (82,637) (18,535) (101,172) |
2021 £ 12,754 49,675 62,429 130,560 2,160 453 713 4,446 8,886 16,658 105 147,323 (84,894) 213,274 128,380 |
|---|---|---|
This page does not form part of the statutory financial statements
10
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Signature 1
Signed by David Freedman using authentication code Y1ZGLkhaTT42S3N2 at IP address 84.95.83.134, on 2023/06/16 14:46:41 Z.
David Freedman's e-mail address is: DFreedman@lawstep.co.uk.