Beis Efraim Charity Accounts

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COMPANY REGISTRATION NUMBER: 08597768

CHARITY REGISTRATION NUMBER: 1155310

Beis Efraim

Company Limited by Guarantee

Unaudited Financial Statements

31 July 2019

Beis Efraim

Company Limited by Guarantee

Financial Statements

Year ended 31 July 2019

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	3

Statement of financial activities (including income and expenditure account)	4

Statement of financial position	5

Statement of cash flows	6

Notes to the financial statements	7

Beis Efraim

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 July 2019

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2019 .

Reference and administrative details

Registered charity name	Beis Efraim

Charity registration number	1155310

Company registration number	08597768

Principal office and registered	Hallswelle House
office	Hallswelle Road
	London
	NW11 ODH

The trustees

	Mr B Feldman
	Mr H Feldman
	Mr S Feldman

Independent examiner	Dr P.P.Smulovitch
	Hallswelle House
	1 Hallswelle Road
	London
	NW11 0DH

Structure, governance and management

Beis Efraim is a charity company. It has no share capital and is limited by guarantee.

The charity is, organised so that the Governors meet regularly to manage its affairs. There are no paid employees and all administration work is carried out on a voluntary basis by the Governors.

The Governors have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. In particular the provision of funding for the education of children and adults in accordance with the principles of traditional Judaism and the support of associated communal charitable institutions such as synagogues and homes for the elderly and infirm, automatically gives rise to a public benefit. Each year the Governors review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review the Governors have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

The appointment and recruitement of new Governors is as laid out in the Charity's Memorandum and Articles of Association. New Governors would be trained as deemed appropriate.

The Charity's Memorandum and Articles of Association authorises the Governors to make and hold investments.

Objectives and activities

The primary object of the charity is the advancement of the orthodox Jewish faith.

In general the charity has power to do anything which is calculated to further the primary objective as detailed above or is conducive or incidental to doing so.

Achievements and performance

The Governors have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate such risks.

Financial review

The financial position of the charity is as reflected in the attached Balance Sheet. The retained distributable reserves are less than that considered desirable by the Governors in accordance with their Reserve Policy.

The attached accounts set out the results for the period ended 31st July 2014 and reflect the state of the company's affairs at that date.

The charity does not partake in external funding activities. Funds are derived from fellow charities which enables the charity to carry out its activities.

RISK MANAGEMENT

The Governors have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate such risks.

RESERVES POLICY

It is the Governors desire to build up and maintain free reserves of the company at a level which the trustees believe is appropriate after considering both future commitments of the charity and the likely future administartion costs of the charity. At this time the Governors believe that prudence dictates that these reserves should equate to at least three years average charitable distributions.

Plans for future periods

The Governors' objectives for the future are to continue to carry out the activities as detailed in their report.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 3 June 2020 and signed on behalf of the board of trustees by:

Mr B Feldman

Trustee

Beis Efraim

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Beis Efraim

Year ended 31 July 2019

I report to the trustees on my examination of the financial statements of Beis Efraim ('the charity') for the year ended 31 July 2019.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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

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 charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements 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 financial statements 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.

Dr P.P.Smulovitch Independent Examiner

Hallswelle House 1 Hallswelle Road London NW11 0DH

3 June 2020

Beis Efraim

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 July 2019

	2019		2018
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	13,457	13,457	5,000
		--------	--------	-------
Total income		13,457	13,457	5,000
		--------	--------	-------

Expenditure

Expenditure on charitable activities	6,7	1,335	1,335	6,753
		--------	--------	-------
Total expenditure		1,335	1,335	6,753
		--------	--------	-------

	--------	--------	-------
Net income/(expenditure) and net movement in funds	12,122	12,122	( 1,753)
	--------	--------	-------

Reconciliation of funds

Total funds brought forward	5,200	5,200	6,953
	--------	--------	-------
Total funds carried forward	17,322	17,322	5,200
	--------	--------	-------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Beis Efraim

Company Limited by Guarantee

Statement of Financial Position

31 July 2019

	2019		2018
Note	£	£	£

Current assets

Debtors	11	133	133
Cash at bank and in hand		18,389	6,267
		--------	-------
		18,522	6,400

Creditors: amounts falling due within one year	12	1,200		1,200
		--------		-------
Net current assets			17,322	5,200
			--------	-------
Total assets less current liabilities			17,322	5,200
			--------	-------

Funds of the charity

Unrestricted funds		17,322	5,200
		--------	-------
Total charity funds	13	17,322	5,200
		--------	-------

For the year ending 31 July 2019 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 3 June 2020 , and are signed on behalf of the board by:

Mr B Feldman

Trustee

Beis Efraim

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 July 2019

	2019	2018
	£	£

Cash flows from operating activities

Net income/(expenditure)	12,122	(1,753)

Adjustments for:
Interest payable and similar charges	2	54
	--------	-------
Cash generated from operations	12,124	( 1,699)

Interest paid	( 2)	( 54)
	--------	-------
Net cash from/(used in) operating activities	12,122	( 1,753)
	--------	-------

Net increase/(decrease) in cash and cash equivalents	12,122	( 1,753)
Cash and cash equivalents at beginning of year	6,267	8,020
	--------	-------
Cash and cash equivalents at end of year	18,389	6,267
	--------	-------

Beis Efraim

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 July 2019

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Hallswelle House, Hallswelle Road, London, NW11 ODH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The Company is Limited by Guarantee and as a consequence, has no Share Capital.

5. Donations and legacies

Unrestricted Funds	Total Funds 2019	Unrestricted Funds	Total Funds 2018
£	£	£	£

Donations

Donations receivable	13,457	13,457	5,000	5,000
	--------	--------	-------	-------

6. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2019	Unrestricted Funds	Total Funds 2018
	£	£	£	£
Support costs	1,335	1,335	6,753	6,753
	-------	-------	-------	-------

7. Expenditure on charitable activities by activity type

	Support costs	Total funds 2019	Total fund 2018
	£	£	£
Legal & professionsl fees	133	133	5,429
Governance costs	1,202	1,202	1,324
	-------	-------	-------
	1,335	1,335	6,753
	-------	-------	-------

8. Independent examination fees

	2019	2018
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	1,200	1,200
	-------	-------

9. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2019	2018
	£	£

There were no staff costs in this and the previous year.

The average head count of employees during the year was Nil (2018: Nil).

No employee received employee benefits of more than £60,000 during the year (2018: Nil).

10. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

11. Debtors

	2019	2018
	£	£
Other debtors	133	133
	----	----

12. Creditors: amounts falling due within one year

	2019	2018
	£	£
Other creditors	1,200	1,200
	-------	-------

13. Analysis of charitable funds

Unrestricted funds

	At 1 August 2018	Income	Expenditure	At 31 July 2019
	£	£	£	£
General funds	5,200	13,457	(1,335)	17,322
	-------	--------	-------	--------

	At 1 August 2017	Income	Expenditure	At 31 July 2018
	£	£	£	£
General funds	6,953	5,000	(6,753)	5,200
	-------	-------	-------	-------

14. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2019
	£	£
Current assets	18,522	18,522
Creditors less than 1 year	(1,200)	(1,200)
	--------	--------
Net assets	17,322	17,322
	--------	--------

	Unrestricted Funds	Total Funds 2018
	£	£
Current assets	6,400	6,400
Creditors less than 1 year	(1,200)	(1,200)
	-------	-------
Net assets	5,200	5,200
	-------	-------