REGISTERED CHARITY NUMBER: 296981
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
FOR
CHESED CHARITY TRUST
DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11D London N4 1TJ
CHESED CHARITY TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 11 |
CHESED CHARITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2022
The trustees present their report with the financial statements of the charity for the year ended 5 April 2021.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are to further those purposes recognised as charitable by English Law. The charity receives income mainly from charitable donations which it utilises in the provision of grants and donations to the poor and needy. The charity also makes distributions of food to the poor and needy through its Pesach Project.
Public benefit
The trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Income from donations aggregated £811,880 (2021: £768,086). Total grants given aggregated £168,755 (2021: £172,133).
FINANCIAL REVIEW
Financial position
During the year, the charity's incoming resources exceeded the outgoing resources. The trustees are satisfied with the results for the year.
Reserves policy
As at 5 April, the charity had Unrestricted Funds of £207,842 (2021: £205,178).
FUTURE PLANS
The future plans of the charity are to continue to support the poor and needy through donations and grants and distribution of food through the Pesach Project.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Appointment of trustees
New trustees are inducted into the workings of the charity by the existing trustees.
Organisational structure
The trustees administer the day-to-day affairs of the charity. All trustees give their time voluntarily and receive no benefits from the charity.
Related parties
None of the trustees have any beneficial interest in the charity.
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
296981
Principal address
71 Bridge Lane London NW11 0EE
Page 1
CHESED CHARITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2022
Trustees
Mrs L M Halpern Mrs P Toba Mrs H Wosner
Independent Examiner
DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11D London N4 1TJ
Approved by order of the board of trustees on 2 February 2023 and signed on its behalf by:
Mrs L M Halpern - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHESED CHARITY TRUST
Independent examiner's report to the trustees of Chesed Charity Trust
I report to the charity trustees on my examination of the accounts of Chesed Charity Trust (the Trust) for the year ended 5 April 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 registered member of FCCA 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.
Mr Pesach Davidoff FCCA DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11D London N4 1TJ
2 February 2023
Page 3
CHESED CHARITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 811,880 Charitable activities 4 Charitable activities 60,500 Investment income 3 4,519 Total 876,899 EXPENDITURE ON Charitable activities 5 Charitable activities 830,918 Loss on disposal of investment 13,317 Total 844,235 NET INCOME 32,664 RECONCILIATION OF FUNDS Total funds brought forward 205,178 TOTAL FUNDS CARRIED FORWARD 237,842 |
2021 Total funds £ 768,086 15,378 4,880 |
|---|---|
| 788,344 | |
| 778,056 - |
|
| 778,056 | |
| 10,288 194,890 |
|
| 205,178 |
The notes form part of these financial statements
Page 4
CHESED CHARITY TRUST
BALANCE SHEET 5 APRIL 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Investments 8 - CURRENT ASSETS Stocks 9 45,000 Debtors 10 110,442 Cash in hand 483,993 639,435 CREDITORS Amounts falling due within one year 11 (401,593) NET CURRENT ASSETS 237,842 TOTAL ASSETS LESS CURRENT LIABILITIES 237,842 NET ASSETS 237,842 FUNDS 12 Unrestricted funds 237,842 TOTAL FUNDS 237,842 |
2021 Total funds £ 36,609 5,300 - 188,909 194,209 (25,640) 168,569 205,178 205,178 205,178 205,178 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 2 February 2023 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 5
CHESED CHARITY TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of fixed asset investments Sale of tangible fixed assets Sale of fixed asset investments Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2022 £ 271,792 271,792 - (13,317) 36,609 23,292 295,084 188,909 483,993 |
2021 £ 17,125 17,125 (3,268) - - (3,268) 13,857 175,052 188,909 |
|---|---|---|
The notes form part of these financial statements
Page 6
CHESED CHARITY TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2022
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of Financial | |||
| Activities) | 32,664 | 10,288 | |
| Adjustments for: | |||
| Loss on disposal of fixed assets | 13,317 | - | |
| Increase in stocks | (39,700) | (4,800) | |
| Increase in debtors | (110,442) | - | |
| Increase in creditors | 375,953 | 11,637 | |
| Net cash provided by operations | 271,792 | 17,125 |
2.
| ANALYSIS OF CHANGES IN NET FUNDS | |||
|---|---|---|---|
| At 6.4.21 | Cash flow | At 5.4.22 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 188,909 | 295,084 | 483,993 |
| 188,909 | 295,084 | 483,993 | |
| Total | 188,909 | 295,084 | 483,993 |
The notes form part of these financial statements
Page 7
CHESED CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 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 2015)', 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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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. There are no unrestricted funds as at the Balance Sheet date.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Donations | 811,880 | 768,086 |
continued...
Page 8
CHESED CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2022
| 3. INVESTMENT INCOME Net rental income 4. INCOME FROM CHARITABLE ACTIVITIES Pesach project 5. CHARITABLE ACTIVITIES COSTS Charitable activities 6. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Grants to institutions The total grants paid to individuals during the year was as follows: Grants to individuals 7. TRUSTEES' REMUNERATION AND BENEFITS |
2022 £ 4,519 2022 Charitable activities £ 60,500 Grant funding of activities Direct (see note Costs 6) £ £ 662,163 168,755 2022 £ 168,755 2022 £ 33,000 2022 £ 135,755 |
2021 £ 4,880 2021 Total activities £ 15,378 Totals £ 830,918 2021 £ 172,133 2021 £ - 2021 £ 172,133 |
|---|---|---|
There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
continued...
Page 9
CHESED CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2022
8. FIXED ASSET INVESTMENTS
| FAIR VALUE Cost Share of surplus Repayment Disposal At 5 April 2022 NET BOOK VALUE At 5 April 2022 At 5 April 2021 Investments represent the capital account balance on the charity's share of an investment property. 9. STOCKS 2022 £ Stocks 45,000 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Other debtors 110,442 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Trade creditors 381,593 Other creditors 20,000 401,593 12. MOVEMENT IN FUNDS Net movement At 6.4.21 in funds £ £ Unrestricted funds Unrestricted Fund 205,178 32,664 TOTAL FUNDS 205,178 32,664 |
||
|---|---|---|
| £ | ||
| 36,609 | ||
| 4,519 | ||
| (1,612) | ||
| (39,259) | ||
| 0 | ||
| 0 | ||
| 36,609 | ||
continued...
Page 10
CHESED CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2022
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds Unrestricted Fund TOTAL FUNDS |
Incoming resources £ 876,899 876,899 |
Resources Movement expended in funds £ £ (844,235) 32,664 (844,235) 32,664 |
|---|---|---|
Comparatives for movement in funds
| At 6.4.20 £ Unrestricted funds Unrestricted Fund 194,890 TOTAL FUNDS 194,890 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds Unrestricted Fund 788,344 TOTAL FUNDS 788,344 |
Net movement At in funds 5.4.21 £ £ 10,288 205,178 10,288 205,178 Resources Movement expended in funds £ £ (778,056) 10,288 (778,056) 10,288 |
|---|---|
13. RELATED PARTY DISCLOSURES
No transactions with related parties were undertaken such as are required to be disclosed under FRS102.
Page 11