THE BERSAM TRUST
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
CHARITY NO. 526452
THE BERSAM TRUST
CONTENTS
Trustees Report 2 Independent Examiners Report 5 Statement of Financial Activities 6 Balance Sheet 7 Notes to the Financial Statements 8
THE BERSAM TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees of the charity present their annual report under the Charities Act 2011 and the financial statements for the year ended 31 March 2023 and confirm that the latter comply with the requirements of the Act, the Trust Deed and the Charities SORP 2005.
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees Joshua Waldman Ignatius Moskovits Jehuda Waldman A Vogiel
Charity Number 526452 Independent Examiner B Olsberg & Co, Chartered Accountants Enterprise House, 3 Middleton Road, Manchester M8 5DT
Bankers The Royal Bank of Scotland, Manchester Cheetham 18 Bury Old Road, Manchester M8 7JN
The Charity was founded on 31 May 1955 and is registered with the Charity Commission Under charity number 526452.
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The charity is governed by its Trust Deed dated 31 May 1955.
GOVERNING BODY
The structure of the Charity consists of three trustees. The board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing trustee.
ORGANISATIONAL MANAGEMENT
The Trustees of the Charity, are legally responsible for the overall management and control of the Charity and meet regularly.
RISK MANAGEMENT
The trustees do not feel that the charity is exposed to any major risks.
- 2 -
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
The charity is constituted by Trust Deed and its objects are to raise funds for the purpose of supporting all causes which are considered charitable according to English Law. This year the charity concentrated on completing the school building.
Its policies are to further the observance of orthodox Judaism, to encourage and support the advancement of Orthodox Jewish Religious Education to establish all institutions required by the orthodox Jewish Community and any other charitable activities.
The policy of the Charitable Trust continues to be to support these activities.
It is intended to continue with the Trusts current activities.
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
The charity received donations of £98,671, and rental income of £150,000. Management and administration expenses were £94,854 which left a surplus for the year of £153,817 (2022 surplus - £106,955).
The Trustees consider that the performance of the charity this year has been satisfactory. There
were no significant changes in the year.
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.
RESERVES POLICY
The policy of the trustees is to use its funds to complete the school building and to give support for educating the children.
INVESTMENT POLICY AND OBJECTIVES
Under the Trust Deed the charity has the power to make any investment which the trustees see fit but no investments are currently held.
FUTURE PLANS
The trustee's plans are to continue to collect funds for the purposes of the charity.
- 3 -
ACCOUNTING AND REPORTING RESPONSIBILITIES
The trustees are required by Charity law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of the year. In preparing those financial statements the trustees are required to:
-
(a) select suitable accounting policies and apply them consistently;
-
(b) make judgements and estimates that are reasonable and prudent;
-
(c) follow applicable accounting standards and statements of recommended practice, disclosing and explaining any departures in the financial statements.
-
(d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
APPROVAL
The report was approved by the trustees on 25 January 2024 and signed on their behalf.
J Waldman Trustee
- 4 -
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE BERSAM TRUST
I report on the accounts of the Trust for the year ended 31 March 2023, which are set out on pages 6 to 8.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act;
-
To follow procedures laid down in the General Directions given by the Charity Commissioners under Section 145(5) of the 2011 Act,
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity
and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with Section 130 of the Charities Act 2011; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act.
-
have not been met; or
-
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
B OLSBERG FCA
B OLSBERG & CO, CHARTERED ACCOUNTANTS ENTERPRISE HOUSE, 3 MIDDLETON ROAD MANCHESTER M8 5DT
25 January 2024
- 5 -
THE BERSAM TRUST
Statement of Financial Activities for the Year Ended 31 March 2023
| Income and Expenditure Donations Rents Receivable Resources Expended Management and Administration Professional Fees Loan Interest and Arrangement Fees Repairs and Maintenance and Rates Printing, Postage, Stationery and Sundry Security Bank Charges Accountancy Independent Examiners Report TOTAL RESOURCES EXPENDED Net Surplus for the Year Balance Brought Forward 1 April 2022 Balance Carried Forward 31 March 2023 |
Unrestricted Funds 2023 £ 98,671 150,000 248,671 - 87,827 3,033 - - 394 2,400 1,200 94,854 94,854 153,817 2,705,550 2,859,367 |
2022 £ 92,965 150,000 |
||
|---|---|---|---|---|
| 242,965 | ||||
| 5,996 74,880 34,944 728 14,688 574 3,000 1,200 |
||||
| 136,010 | ||||
| 136,010 | ||||
| 106,955 | ||||
| 2,598,595 | ||||
| 2,705,550 |
The notes form an integral part of these accounts.
- 6 -
THE BERSAM TRUST
Balance Sheet as at 31 March 2023
| Note Fixed Assets (at valuation) Property & Equipment 4 Current Assets Sundry Debtors Cash at bank and in hand Less: Current Liabilities Creditors Payable within one year 5 Total Assets Less current liabilities Creditors due beyond one year Bank Loan (secured by charge on the property) Trust Funds Unrestricted funds Income account |
£ 2,350 594 |
2023 £ 4,737,120 (222,385) 4,514,735 (1,655,368) 2,859,367 2,859,367 |
£ 2,350 4,329 |
2022 £ 4,737,120 (222,162) 4,514,958 (1,857,672) 2,705,550 2,705,550 |
2022 £ 4,737,120 (222,162) 4,514,958 (1,857,672) 2,705,550 2,705,550 |
|---|---|---|---|---|---|
| (222,162) | |||||
| 2,944 (225,329) |
6,679 (228,841) |
||||
| 4,514,958 (1,857,672) |
|||||
| 2,705,550 | |||||
| 2,705,550 |
Approved by the Board of Trustees on 25 January 2024 and signed on its behalf by
……………………………………… Trustee ……………………………………… Trustee
The notes form part of these accounts
- 7 -
THE BERSAM TRUST
Notes to the Financial Statements for the Year Ended 31 March 2023
1. Accounting Policies
- a. The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice;
Accounting for Charities (SORP) October 2005.
-
b. Voluntary income is received by way of donations and gifts and is included gross in the Statement of Financial Activities.
-
c. Unrestricted funds are donations and other income received or generated for the charitable purposes.
-
d. The properties being investment properties have not been depreciated.
-
e. Management and administration costs of the charity relate to the central costs of management including the costs of meetings and statutory compliance.
2. Direct Charitable Expenditure
- Distributions made in the year ended 31 March 2023 were in accordance with the charity’s objectives.
3. Staff Costs
No remuneration was paid to the trustees in the year and no expenses were reimbursed to them. There were no staff costs.
4.
| FIXED ASSETS | Property & | |
|---|---|---|
| Improvements | Equipment | |
| £ | £ | |
| As at 1 April 2022 | 4,655,451 | 81,221 |
| Additions | - | 448 |
| As at 31 March 2023 | 4,655,451 | 81,669 |
The valuation at 31 March 2023 - £4,655,451 was made by the trustees.
| 5. CREDITORS Expenses Accrued Loans Income received in advance Bank Loan due within one year |
2023 £ 16,915 31,358 19,544 157,512 225,329 |
2022 £ 15,915 136,250 17,544 59,132 228,841 |
|---|---|---|
- 8 -