REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 November 2022 |
for |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 November 2022 |
for |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
Contents of the Financial Statements |
for the Year Ended 30 November 2022 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED (Registered number: 07079321) |
Report of the Trustees |
for the Year Ended 30 November 2022 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 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 charity's objects ("objects") are specifically restricted to the following: |
The relief of financial hardship, either generally or individually, amongst the elderly or in conditions of need, hardship and distress within the Jewish Community by making grants of money for providing or paying for items, services or facilities or providing such persons with goods or services which they could not otherwise afford through lack of means to advance the orthodox Jewish religion for the benefit of the public through the holding of prayer meetings, study sessions, lectures, public celebration of religious festivals in accordance with the tenets of the orthodox Jewish religion. To advance the education of Jewish pupils according to the tenets of the orthodox Jewish religion by providing and assisting in the provision of appropriate facilities needed for such purposes. To promote any purpose that the trustees may decide and that is legally considered charitable. |
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 and in planning future activities. |
Grantmaking |
Grants are made to charitable institutions and organisations which accord with the objects of the charity, as well as to individuals and families in need. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The trustees consider that the performance of the charity has been most satisfactory. During the year, the synagogue run by the charity held regular prayer services and study sessions as well as offering various programmes and lectures to the wider community. The charity also made grants to institutions and individuals amounting to £65,960 (2021: £65,242). |
FINANCIAL REVIEW |
Principal funding sources |
The charity's income is comprised mainly of voluntary donations received from individuals and other charitable organisations. |
Reserves policy |
The charity does not maintain a reserves policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory. |
FUTURE PLANS |
There are no significant future developments to report. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is a charitable company limited by guarantee. It is governed by a memorandum and articles of association incorporated on 17 November 2009. |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED (Registered number: 07079321) |
Report of the Trustees |
for the Year Ended 30 November 2022 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Induction and training of new trustees |
It is not the intention of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures. At every trustee body meeting, time is set aside for trustee training of current significance. |
Risk management |
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Mr A Heller, FCA |
Martin+Heller |
5 North End Road |
London |
NW11 7RJ |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
Independent examiner's report to the trustees of BEIS HAMEDRASH NISHMAS YISROEL LIMITED ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2022. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 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 member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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 A Heller, FCA |
Martin+Heller |
5 North End Road |
London |
NW11 7RJ |
4 September 2023 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
Statement of Financial Activities |
for the Year Ended 30 November 2022 |
30.11.22 | 30.11.21 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 471,852 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED (Registered number: 07079321) |
Balance Sheet |
30 November 2022 |
30.11.22 | 30.11.21 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 349,282 |
Restricted funds | 122,570 |
TOTAL FUNDS | 471,852 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED (Registered number: 07079321) |
Balance Sheet - continued |
30 November 2022 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
Notes to the Financial Statements |
for the Year Ended 30 November 2022 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 Companies Act 2006. 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 corporation 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 |
30.11.22 | 30.11.21 |
£ | £ |
Deposit account interest |
Curr asset inv income | 2,554 | 2,375 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
3. | GRANTS PAYABLE |
30.11.22 | 30.11.21 |
£ | £ |
Donations | 65,960 | 65,242 |
During the year, grants to institutions amounted to £60,315. |
Total grants paid to institutions is comprised as follows: |
Gitter Foundation | 12,000 |
Kosher Outlet | 46,500 |
Other amounts < £2,000 | 1,815 |
60,315 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 November 2022 nor for the year ended 30 November 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 November 2022 nor for the year ended 30 November 2021. |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 326,558 | 116,501 |
TOTAL FUNDS CARRIED FORWARD | 349,282 | 122,570 | 471,852 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Other debtors |
7. | CURRENT ASSET INVESTMENTS |
30.11.22 | 30.11.21 |
£ | £ |
Other Investments | 242,861 | 241,636 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Other creditors |
9. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
1/12/21 | in funds | 30/11/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 349,282 | 10,849 | 360,131 |
Restricted funds |
Restricted fund | 122,570 | (1,523 | ) | 121,047 |
TOTAL FUNDS | 9,326 | 481,178 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
9. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 293,187 | (282,338 | ) | 10,849 |
Restricted funds |
Restricted fund | 152,227 | (153,750 | ) | (1,523 | ) |
TOTAL FUNDS | ( |
) | 9,326 |
Comparatives for movement in funds |
Net |
At | movement | At |
1/12/20 | in funds | 30/11/21 |
£ | £ | £ |
Unrestricted funds |
General fund | 326,558 | 22,724 | 349,282 |
Restricted funds |
Restricted fund | 116,501 | 6,069 | 122,570 |
TOTAL FUNDS | 443,059 | 28,793 | 471,852 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 281,691 | (258,967 | ) | 22,724 |
Restricted funds |
Restricted fund | 119,149 | (113,080 | ) | 6,069 |
TOTAL FUNDS | 400,840 | (372,047 | ) | 28,793 |
BEIS HAMEDRASH NISHMAS YISROEL LIMITED |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
9. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
At | movement | At |
1/12/20 | in funds | 30/11/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 326,558 | 33,573 | 360,131 |
Restricted funds |
Restricted fund | 116,501 | 4,546 | 121,047 |
TOTAL FUNDS | 443,059 | 38,119 | 481,178 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 574,878 | (541,305 | ) | 33,573 |
Restricted funds |
Restricted fund | 271,376 | (266,830 | ) | 4,546 |
TOTAL FUNDS | 846,254 | (808,135 | ) | 38,119 |
10. | RELATED PARTY DISCLOSURES |