REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
FOR |
CHABAD LUBAVITCH OF SOUTH LONDON |
REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
FOR |
CHABAD LUBAVITCH OF SOUTH LONDON |
CHABAD LUBAVITCH OF SOUTH LONDON |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
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Report of the Trustees | 1 to 2 |
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Statement of Financial Activities | 3 |
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Statement of Financial Position | 4 |
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Notes to the Financial Statements | 5 to 8 |
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Reconciliation of Income and Expenditure | 9 |
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Reconciliation of Funds | 10 to 11 |
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CHABAD LUBAVITCH OF SOUTH LONDON |
REPORT OF THE TRUSTEES |
FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
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 period 1 June 2016 to 28 February 2017. 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 2015). |
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OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's objects are specifically restricted to the following: |
1. The advancement of the Orthodox Jewish religion in accordance with the principles of Chabad Lubavitch, |
2. The advancement of Orthodox Jewish religion education and, |
3. The relief of poverty, homelessness and financial crisis management. |
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Public benefit |
The benefits of the above activities afforded to the Jewish population of South London by the provision of the |
advancement of Orthodox Jewish religion and religious education in the education of a by and large completely ignorant |
Jewish community who have not been raised religiously and are not able to read Hebrew, find their way through Jewish |
prayer book, keep a kosher kitchen and observe all the rites and practices according to the Jewish code of law. |
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The education services offered to the local Jewish population are ny and large free, with some specialists lectures having |
a suggested voluntary donation. However, no one is refused from attending any lectures due to their not being able to |
pay. |
Whilst the above activities are offered in and focus primarily on the Jewish population of South London, it is not |
restricted as such, and anyone is invited to attend. |
The object of the relief of poverty, homelessness and financial crisis management, again while being aimed primarily at |
the local Jewish population, is not restricted to those as such, and there have been instances where persons of a |
non-Jewish faith have received the same standard of care, warmth and counselling as their Jewish counterparts. |
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FINANCIAL REVIEW |
The Statement of Financial Activities shows a net surplus for the year of £5,410 (2016 : £3,508). |
The charity embarked on a specific fundraising project namely the Refurbishment of the Chabad House at 42 St |
George's Road, Wimbledon, SW19 4ED. |
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FUTURE PLANS |
We are confident that our supporters will provide us with contributions at a level to support the objects of the charity. |
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STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited |
company , limited by guarantee, as defined by the Companies Act 2006. |
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Recruitment and appointment of new trustees |
All Directors of the company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named |
above served throughout the year. The Board has the power to appoint additional trustees as it considers fit to do so. |
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REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
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Registered Charity number |
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CHABAD LUBAVITCH OF SOUTH LONDON |
REPORT OF THE TRUSTEES |
FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered office |
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Trustees |
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Company Secretary |
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Approved by order of the board of
trustees
on
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CHABAD LUBAVITCH OF SOUTH LONDON |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
PERIOD |
1.6.16 |
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TO |
YEAR
ENDED |
28.2.17 | 31.5.16 |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
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Total |
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EXPENDITURE ON |
Charitable activities | 3 |
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Total |
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NET INCOME/(EXPENDITURE) |
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RECONCILIATION OF FUNDS |
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Total funds brought forward |
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TOTAL FUNDS CARRIED FORWARD |
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3,508 |
CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities. |
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CHABAD LUBAVITCH OF SOUTH LONDON |
STATEMENT OF FINANCIAL POSITION |
AT 28 FEBRUARY 2017 |
2017 | 2016 |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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NET ASSETS |
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FUNDS | 7 |
Unrestricted funds | - | 3,508 |
Restricted funds |
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- |
TOTAL FUNDS |
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3,508 |
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the period ended 28 February 2017. |
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The members have not required the company to obtain an audit of its financial statements for the period ended |
28 February 2017 in accordance with Section 476 of the Companies Act 2006. |
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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. |
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These financial statements have been prepared in accordance with the |
special provisions of Part 15 of the Companies Act 2006 relating to |
charitable small companies. |
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The financial statements were approved by
the Board of
Trustees
on
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CHABAD LUBAVITCH OF SOUTH LONDON |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
1. | ACCOUNTING POLICIES |
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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 2015)', |
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. |
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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. |
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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. |
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Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
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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. |
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Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
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2. | DONATIONS AND LEGACIES |
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PERIOD |
1.6.16 |
TO |
YEAR
ENDED |
28.2.17 | 31.5.16 |
£ | £ |
Donations |
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CHABAD LUBAVITCH OF SOUTH LONDON |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
3. | CHARITABLE ACTIVITIES COSTS |
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Direct costs | Support costs | Totals |
£ | £ | £ |
Grants and donations | 48,439 | - | 48,439 |
Sundries | 543 | - | 543 |
Accountancy | - | 600 | 600 |
Building repairs and refurbishment | - | 11,900 | 11,900 |
48,982 | 12,500 | 61,482 |
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4. | TRUSTEES' REMUNERATION AND BENEFITS |
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There were no trustees' remuneration or other benefits for the period ended 28 February 2017 nor for the year |
ended 31 May 2016 . |
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Trustees' expenses |
There were no trustees' expenses paid for the period ended 28 February 2017 nor for the year ended |
31 May 2016 . |
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5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
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Total |
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EXPENDITURE ON |
Charitable activities |
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Total |
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NET INCOME/(EXPENDITURE) |
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RECONCILIATION OF FUNDS |
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Total funds brought forward | - | - | - |
TOTAL FUNDS CARRIED FORWARD | 3,508 | - | 3,508 |
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CHABAD LUBAVITCH OF SOUTH LONDON |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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2017 | 2016 |
£ | £ |
Accruals and deferred income |
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7. | MOVEMENT IN FUNDS |
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At 1.6.16 |
Net movement
in funds |
At 28.2.17 |
£ | £ | £ |
Unrestricted funds |
General fund | 3,508 | (3,508 | ) | - |
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Restricted funds |
Restricted Fund | - | 8,918 | 8,918 |
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TOTAL FUNDS |
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5,410 | 8,918 |
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Net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 46,074 | (49,582 | ) | (3,508 | ) |
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Restricted funds |
Restricted Fund | 20,818 | (11,900 | ) | 8,918 |
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TOTAL FUNDS |
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( |
) | 5,410 |
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Comparatives for movement in funds |
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At 1.6.15 |
Net movement
in funds |
At 31.5.16 |
£ | £ | £ |
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Unrestricted Funds |
General fund | - | 3,508 | 3,508 |
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TOTAL FUNDS | - | 3,508 | 3,508 |
CHABAD LUBAVITCH OF SOUTH LONDON |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE PERIOD 1 JUNE 2016 TO 28 FEBRUARY 2017 |
7. | MOVEMENT IN FUNDS - continued |
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Comparative net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 7,108 | (3,600 | ) | 3,508 |
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TOTAL FUNDS | 7,108 | (3,600 | ) | 3,508 |
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8. | RELATED PARTY DISCLOSURES |
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The restricted funds relate to the refurbishment of the Chabad House at 42 St George's Road, Wimbledon, |
London, SW19 4ED, from which the charity operates. |
The property is owned by the Chabad Lubavitch UK, registered charity number 227638, which is the main |
Lubavitch organization in the UK. |
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CHABAD LUBAVITCH OF SOUTH LONDON |
RECONCILIATION OF INCOME AND EXPENDITURE |
FOR THE PERIOD 31 MAY 2016 |
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UK GAAP |
Effect of
transition to FRS 102 |
FRS 102 |
Notes | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 7,108 |
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7,108 |
EXPENDITURE ON |
Charitable activities | 3,600 |
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3,600 |
NET INCOME/(EXPENDITURE) | 3,508 |
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3,508 |
CHABAD LUBAVITCH OF SOUTH LONDON |
RECONCILIATION OF FUNDS |
AT 1 JUNE 2015 |
(DATE OF TRANSITION TO FRS 102) |
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UK GAAP |
Effect of
transition to FRS 102 |
FRS 102 |
Notes | £ | £ | £ |
- | - | - |
TOTAL ASSETS LESS CURRENT LIABILITIES | - |
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- |
- |
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- |
FUNDS |
TOTAL FUNDS | - | - | - |
CHABAD LUBAVITCH OF SOUTH LONDON |
RECONCILIATION OF FUNDS |
AT 31 MAY 2016 |
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UK GAAP |
Effect of
transition to FRS 102 |
FRS 102 |
Notes | £ | £ | £ |
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CURRENT ASSETS |
Cash at bank | 4,108 |
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4,108 |
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CREDITORS |
Amounts falling due within one year | (600 | ) |
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(600 | ) |
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NET CURRENT ASSETS | 3,508 |
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3,508 |
TOTAL ASSETS LESS CURRENT LIABILITIES | 3,508 |
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3,508 |
NET ASSETS | 3,508 |
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3,508 |
FUNDS |
Unrestricted funds | 3,508 | - | 3,508 |
Restricted funds | - | - | - |
TOTAL FUNDS | 3,508 | - | 3,508 |