Kollel Binyan Simcha Charity Accounts
Kollel Binyan Simcha Charity Accounts
COMPANY REGISTRATION NUMBER:
08871647
CHARITY REGISTRATION NUMBER:
1156872
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Company Limited by Guarantee |
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Company Limited by Guarantee |
Financial Statements |
Year ended 31 January 2020
Page |
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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 |
Notes to the financial statements |
6 |
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Company Limited by Guarantee |
Trustees' Annual Report (Incorporating the Director's Report) |
Year ended 31 January 2020
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 January 2020
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Reference and administrative details
Registered charity name |
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Charity registration number |
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Company registration number |
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Principal office |
Cheltenham Crescent |
Salford |
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M7 4FP |
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Registered office |
c/o The Chartwell Partnership Ltd |
47 Bury New Road |
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Prestwich |
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Manchester |
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M25 9JY |
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The trustees
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Independent examiner |
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47 Bury New Road |
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Prestwich |
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Manchester |
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M25 9JY |
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Structure, governance and management
Organisational structure
The Trustees administer the charity but the day to day affairs are managed by volunteers.
Risk review
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage exposure to the major risks
Objectives and activities
The objectives of the company are: (i) the prevention or relief of poverty or financial hardship by providing grants or loans to individuals in need and/or charities or other organisations working to prevent or relieve poverty or financial hardship; (ii) for the public benefit to promote the education of people of all ages around the world in such ways as the charity trustees think fit, including awarding to such persons scholarships, maintenance allowances or grants or by grants to charities or other organisations worldwide that provide education.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and when planning the grant making policy for the year.
Achievements and performance
During the period the Charity received donations of £186,579 and paid out grants to other organisations of £40,730. Individual poverty grants totalling £136,800 were paid out.
Financial review
The charity continued to raise significant funds from generous benefactors. During the year, over 95% of funds raised were paid out by way of grants in furtherance of the objects of the charity.
Principal funding sources
The Charity is dependent on charitable donations from other charities and philanthropists.
Reserves policy
The trustees have reviewed the reserves and future requirements of the charity. All future needs are considered together with any risks or contingencies that may exist. The trustees are confident that sufficient reserves will be generated to achieve the objectives of the charity.
Plans for future periods
There are no plans to change the current operating structure in the foreseeable future.
Small company provisions
The trustees' annual report was approved on
20 July 2020
and signed on behalf of the board of trustees by:
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Trustee |
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Company Limited by Guarantee |
Independent Examiner's Report to the Trustees of
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Year ended 31 January 2020
I report to the trustees on my examination of the financial statements of
Kollel Binyan Simcha
('the charity') for the year ended 31 January 2020.
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.
47 Bury New Road
Prestwich
Manchester
M25 9JY
20 July 2020
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Company Limited by Guarantee |
Statement of Financial Activities |
(including income and expenditure account) |
Year ended 31 January 2020
2020 |
2019 |
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Unrestricted funds |
Total funds |
Total funds |
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Note |
£ |
£ |
£ |
Income and endowments
Donations and legacies |
5 |
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--------- |
--------- |
--------- |
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Total income |
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--------- |
--------- |
--------- |
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Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies |
6 |
12,255 |
12,255 |
8,462 |
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Expenditure on charitable activities |
7,8 |
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--------- |
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Total expenditure |
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--------- |
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Net (expenditure)/income and net movement in funds |
(
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(
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--------- |
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--------- |
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Reconciliation of funds
Total funds brought forward |
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--------- |
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--------- |
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Total funds carried forward |
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--------- |
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--------- |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Company Limited by Guarantee |
Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Current assets
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
14 |
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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 of the charity
Unrestricted funds |
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-------- |
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Total charity funds |
15 |
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Directors' responsibilities:
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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
;
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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 were approved by the
board of trustees
and authorised for issue on
20 July 2020
, and are signed on behalf of the board by:
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Trustee |
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Company Limited by Guarantee |
Notes to the Financial Statements |
Year ended 31 January 2020
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 c/o The Chartwell Partnership Ltd, 47 Bury New Road, Prestwich, Manchester, M25 9JY.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
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
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
Financial instruments
4.
Limited by guarantee
The Company is limited by guarantee and does not have share capital. In the event of winding up, the members are liable to an amount not exceeding £10.
5.
Donations and legacies
Unrestricted Funds |
Total Funds 2020 |
Unrestricted Funds |
Total Funds 2019 |
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£ |
£ |
£ |
£ |
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Donations
Donations received |
186,579 |
186,579 |
149,611 |
149,611 |
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--------- |
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6.
Costs of raising donations and legacies
Unrestricted Funds |
Total Funds 2020 |
Unrestricted Funds |
Total Funds 2019 |
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£ |
£ |
£ |
£ |
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Costs of raising donations and legacies - Donations |
12,255 |
12,255 |
8,462 |
8,462 |
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------- |
------- |
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7.
Expenditure on charitable activities by fund type
Unrestricted Funds |
Total Funds 2020 |
Unrestricted Funds |
Total Funds 2019 |
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£ |
£ |
£ |
£ |
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Grant funding activities |
179,237 |
179,237 |
115,153 |
115,153 |
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Support costs |
18,831 |
18,831 |
5,658 |
5,658 |
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8.
Expenditure on charitable activities by activity type
Grant funding of activities |
Support costs |
Total funds 2020 |
Total fund 2019 |
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£ |
£ |
£ |
£ |
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Grant funding activities |
179,237 |
– |
179,237 |
115,153 |
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Governance costs |
– |
18,831 |
18,831 |
5,658 |
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9.
Analysis of support costs
Analysis of support costs |
Total 2020 |
Total 2019 |
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£ |
£ |
£ |
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Premises |
14,606 |
14,606 |
5,160 |
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Finance costs |
110 |
110 |
35 |
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Governance costs |
4,115 |
4,115 |
463 |
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18,831 |
18,831 |
5,658 |
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10.
Analysis of grants
2020 |
2019 |
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£ |
£ |
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Grants to institutions
Grants to institutions paid |
40,730 |
113,270 |
Grants to individuals
Grants to individuals paid |
136,800 |
850 |
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--------- |
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Total grants |
177,530 |
114,120 |
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11.
Independent examination fees
2020 |
2019 |
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£ |
£ |
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Fees payable to the independent examiner for:
Independent examination of the financial statements |
450 |
450 |
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12.
Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2020 |
2019 |
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£ |
£ |
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The average head count of employees during the year was Nil (2019: Nil).
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
13.
Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14.
Creditors:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Accruals and deferred income |
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---- |
---- |
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15.
Analysis of charitable funds
Unrestricted funds
At 1 February 2019 |
Income |
Expenditure |
At 31 January 2020 |
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£ |
£ |
£ |
£ |
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General funds |
43,032 |
186,579 |
(210,323) |
19,288 |
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At 1 February 2018 |
Income |
Expenditure |
At 31 January 2019 |
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£ |
£ |
£ |
£ |
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General funds |
22,694 |
149,611 |
(129,273) |
43,032 |
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16.
Analysis of net assets between funds
Unrestricted Funds |
Total Funds 2020 |
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£ |
£ |
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Current assets |
19,751 |
19,751 |
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Creditors less than 1 year |
(463) |
(463) |
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-------- |
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Net assets |
19,288 |
19,288 |
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Unrestricted Funds |
Total Funds 2019 |
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£ |
£ |
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Current assets |
43,495 |
43,495 |
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Creditors less than 1 year |
(463) |
(463) |
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-------- |
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Net assets |
43,032 |
43,032 |
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