Charity registration number: 802647
The Kingsbury Jewish Community Trust
Annual Report and Financial Statements for the Year Ended 31 December 2021
Brooks Green Chartered Accountants 342 Regents Park Road London N3 2LJ
The Kingsbury Jewish Community Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 10 |
The Kingsbury Jewish Community Trust Reference and Administrative Details
| Trustees | Harold I Stone |
|---|---|
| Jeffrey R Levinson | |
| Wayne H Birnbaum | |
| Principal Office | 342 Regents Park Road |
| London | |
| N3 2LJ | |
| Charity Registration Number | 802647 |
| Independent Examiner | Brooks Green |
| Chartered Accountants | |
| 342 Regents Park Road | |
| London | |
| N3 2LJ |
Page 1
The Kingsbury Jewish Community Trust
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2021.
Objectives and activities
Objects and aims
The oblective of the Trust is the furtherance of the Jewish Religion, support of the poor in the Kingsbury Jewish community and matters relating to the the Kingsbury Synagogue generally.
The charity aims to receive donations and rent and make grants to the Kingsbuty United Synagogue.
Objectives, strategies and activities
Gross income of the fund was £39,825. Expenditure amounted to £20,987. Grants of £500 werewere given to appropriate institions in the year.
Public benefit
.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Nature of governing document
The governing document is a Trust Deed dated 28 November 1989.
The annual report was approved by the trustees of the charity on 19 October 2022 and signed on its behalf by:
......................................... Wayne H Birnbaum Trustee
Page 2
The Kingsbury Jewish Community Trust
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 that 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, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.
Approved by the trustees of the charity on 19 October 2022 and signed on its behalf by:
......................................... Wayne H Birnbaum Trustee
Page 3
The Kingsbury Jewish Community Trust
Independent Examiner's Report to the trustees of The Kingsbury Jewish Community Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 5 to 10.
Respective responsibilities of trustees and examiner
As the charity’s trustees of The Kingsbury Jewish Community 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 The Kingsbury Jewish Community Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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:
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accounting records were not kept in respect of The Kingsbury Jewish Community Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Rowland Aarons Chartered Accountants ICAEW
342 Regents Park Road London N3 2LJ
23 October 2022
Page 4
The Kingsbury Jewish Community Trust
Statement of Financial Activities for the Year Ended 31 December 2021
| Note Income and Endowments from: Donations and legacies Other income Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 3,825 36,000 39,825 (20,987) (20,987) 18,838 143,880 162,718 |
Total 2021 £ 3,825 36,000 39,825 (20,987) (20,987) 18,838 143,880 162,718 |
Total 2020 £ 3,862 36,000 |
|---|---|---|---|
| 39,862 | |||
| (19,295) | |||
| (19,295) | |||
| 20,567 123,313 |
|||
| 143,880 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note .
Page 5
The Kingsbury Jewish Community Trust
(Registration number: 802647) Balance Sheet as at 31 December 2021
| Note Fixed assets Tangible assets 6 Current assets Cash at bank and in hand Total assets less current liabilities Creditors: Amounts falling due after more than one year 7 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds |
2021 £ 534,997 34,765 569,762 (407,044) 162,718 162,718 162,718 |
2020 £ 534,997 32,010 |
|---|---|---|
| 567,007 (423,127) |
||
| 143,880 | ||
| 143,880 | ||
| 143,880 |
The financial statements on pages 5 to 10 were approved by the trustees, and authorised for issue on 19 October 2022 and signed on their behalf by:
......................................... Wayne H Birnbaum Trustee
Page 6
The Kingsbury Jewish Community Trust
Notes to the Financial Statements for the Year Ended 31 December 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Kingsbury Jewish Community Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 7
The Kingsbury Jewish Community Trust
Notes to the Financial Statements for the Year Ended 31 December 2021
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Page 8
The Kingsbury Jewish Community Trust
Notes to the Financial Statements for the Year Ended 31 December 2021
2 Income from donations and legacies
| Donations and legacies; Donations from individuals 3 Other income Rental income |
Unrestricted funds General £ 3,825 3,825 Unrestricted funds General £ 36,000 |
Total 2021 £ 3,825 3,825 Total 2021 £ 36,000 |
Total 2020 £ 3,862 |
|---|---|---|---|
| 3,862 | |||
| Total 2020 £ 36,000 |
4 Analysis of governance and support costs
Governance costs
| Other governance costs | Unrestricted funds General £ 20,487 20,487 |
Total 2021 £ 20,487 20,487 |
Total 2020 £ 19,295 |
|---|---|---|---|
| 19,295 |
Page 9
The Kingsbury Jewish Community Trust
Notes to the Financial Statements for the Year Ended 31 December 2021
5 Taxation
The charity is a registered charity and is therefore exempt from taxation.
6 Tangible fixed assets
| Cost At 1 January 2021 At 31 December 2021 Depreciation At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 7 Creditors: amounts falling due after one year Bank loans Other loans |
Land and buildings £ 534,997 |
Total £ 534,997 534,997 - 534,997 534,997 2020 £ 314,127 109,000 |
||
|---|---|---|---|---|
| 534,997 - |
||||
| 534,997 | ||||
| 534,997 | ||||
| 2021 £ 303,044 104,000 407,044 |
||||
| 423,127 |
Page 10
The Kingsbury Jewish Community Trust
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Income and Endowments from: Donations and legacies (analysed below) Other income (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2021 £ 3,825 36,000 39,825 (20,987) (20,987) 18,838 18,838 143,880 162,718 |
Total 2020 £ 3,862 36,000 |
|---|---|---|
| 39,862 | ||
| (19,295) | ||
| (19,295) | ||
| 20,567 | ||
| 20,567 123,313 |
||
| 143,880 |
Page 11
The Kingsbury Jewish Community Trust
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Donations and legacies Appeals and donations Other income Rental income Charitable activities Grants payable - institutions Light, heat and power Insurance Property repairs Legal and professional fees Bank charges Bank interest payable |
Total 2021 £ 3,825 3,825 36,000 36,000 (500) (3,748) (880) (660) (344) (68) (14,787) (20,987) |
Total 2020 £ 3,862 |
|---|---|---|
| 3,862 | ||
| 36,000 | ||
| 36,000 | ||
| - (3,643) (814) (684) (339) (75) (13,740) |
||
| (19,295) |
Page 12