REGISTERED CHARITY NUMBER: 327970
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
FOR
FRIENDS OF KARLIN STOLIN
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
FRIENDS OF KARLIN STOLIN
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
FRIENDS OF KARLIN STOLIN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31st December 2021. 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 Charitable Trust is constituted by Trust Deed, and its objects are to advance education in and the religion of the Orthodox Jewish faith. To support financially and otherwise the Karlin-Stolin schools and educational institutions in Israel.
The policy of the Charitable Trust continues to be to seek additional finance and support to further its aims.
Public benefit
The Charity's objectives, as defined in its governing document, are the advancement of education in the religion of the Orthodox Jewish faith and to provide support, financial and otherwise, to the Karlin-Stolin Schools and educational institutions in Israel. Such purposes as are recognised by English law as charitable and the Trustees have considered the Charity Commission's general guidance on public benefit.
Volunteers
There were no volunteers during the year.
FINANCIAL REVIEW
Investment policy and objectives
The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Reserves policy
The Statement of Financial Activities shows a deficit for the year of £9,710 (2020 : Deficit of £2,842) and total funds carried forward of £2,603 (2020 : £12,313). There were no restricted funds as at the year end.
The Trustees consider that the present level of reserves and funding is adequate to support the continuation of the operation of the Charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The Trustees named on page 1 have served throughout the year. Appointment of Trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Trustee.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
327970
Principal address
11 Avinoam Yelin Street PO Box 5157 Jerusalem 91051
Page 1
FRIENDS OF KARLIN STOLIN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
Trustees
Y Glauberman A Lifschitz H Y Eckstein
Independent Examiner
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
Approved by order of the board of trustees on 4th May 2023 and signed on its behalf by:
Y Glauberman - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF KARLIN STOLIN
Independent examiner's report to the trustees of Friends of Karlin Stolin
I report to the charity trustees on my examination of the accounts of Friends of Karlin Stolin (the Trust) for the year ended 31st December 2021.
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
-
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.
Akiva Kahan FCA
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE Date: May 2023
Page 3
FRIENDS OF KARLIN STOLIN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 36,306 EXPENDITURE ON Charitable activities 2 Donations made 46,016 NET INCOME/(EXPENDITURE) (9,710) RECONCILIATION OF FUNDS Total funds brought forward 12,313 TOTAL FUNDS CARRIED FORWARD 2,603 |
2020 Total funds £ 28,100 30,942 (2,842) 15,155 12,313 |
|---|---|
The notes form part of these financial statements
Page 4
FRIENDS OF KARLIN STOLIN
STATEMENT OF FINANCIAL POSITION 31ST DECEMBER 2021
| 2021 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 2,603 NET CURRENT ASSETS 2,603 TOTAL ASSETS LESS CURRENT LIABILITIES 2,603 NET ASSETS 2,603 FUNDS 5 Unrestricted funds 2,603 TOTAL FUNDS 2,603 |
2020 Total funds £ 12,313 |
|---|---|
| 12,313 | |
| 12,313 | |
| 12,313 | |
| 12,313 | |
| 12,313 |
The financial statements were approved by the Board of Trustees and authorised for issue on 4th May 2023 and were signed on its behalf by:
Y Glauberman - Trustee
The notes form part of these financial statements
Page 5
FRIENDS OF KARLIN STOLIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
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.
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. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |
|---|---|
| Grant | |
| funding of | |
| activities | |
| £ | |
| Donations made | 46,016 |
Page 6
FRIENDS OF KARLIN STOLIN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
5.
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Donations made NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Unrestricted fund £ 28,100 30,942 (2,842) 15,155 12,313 Net movement At At 1/1/21 in funds 31/12/21 £ £ £ 12,313 (9,710) 2,603 12,313 (9,710) 2,603 Incoming Resources Movement resources expended in funds £ £ £ 36,306 (46,016) (9,710) 36,306 (46,016) (9,710) |
|---|---|
Page 7
FRIENDS OF KARLIN STOLIN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1/1/20 | in funds | 31/12/20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 15,155 |
(2,842) | 12,313 |
| TOTAL FUNDS 15,155 |
(2,842) | 12,313 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 28,100 |
(30,942) | (2,842) |
| TOTAL FUNDS 28,100 |
(30,942) | (2,842) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1/1/20 in funds 31/12/21 £ £ £ 15,155 (12,552) 2,603 15,155 (12,552) 2,603 |
Net movement At At 1/1/20 in funds 31/12/21 £ £ £ 15,155 (12,552) 2,603 15,155 (12,552) 2,603 |
|---|---|---|
| 2,603 |
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 Movement resources expended in funds £ £ £ 64,406 (76,958) (12,552) 64,406 (76,958) (12,552) |
|---|---|
Page 8
FRIENDS OF KARLIN STOLIN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2021.
Page 9
FRIENDS OF KARLIN STOLIN
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 36,306 | 28,100 |
| Total incoming resources | 36,306 | 28,100 |
| EXPENDITURE | ||
| Charitable activities | ||
| Donations made | 46,016 | 30,942 |
| Total resources expended | 46,016 | 30,942 |
| Net expenditure | (9,710) | (2,842) |
This page does not form part of the statutory financial statements
Page 10