Friends of the Jerusalem Kollel - Charities report - 20.2

REGISTERED COMPANY NUMBER: 06864606 (England and Wales)

REGISTERED CHARITY NUMBER: 1137944

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

FRIENDS OF THE JERUSALEM KOLLEL

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Statement of Financial Position

5

to

6

Notes to the Financial Statements

7

to

11

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 31 March 2020. 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

To promote and advance Jewish Religious Education, in particular by the provision of funds to the Jerusalem Kollel as deemed fit by the Board of Directors.

Grantmaking

The charity made grants totalling £30,100 (2019 : £40,552) to the Jerusalem Kollel in the year.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charity commenced its fundraising activities during the year, and managed to raise enough funds

to remit over to the Jerusalem Kollel, to make a meaningful contribution to the Kollel's activities.

FINANCIAL REVIEW

The Statement of Financial Activities shows a surplus for the year of £2,437( 2019: Deficit of £7,848), this will be added to the unrestricted reserves. The reserves as at 31st March 2020 stood at £9,817( 2019 £7,380.).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is constituted as a Company Limited by Guarantee, and is governed by a Memorandum and Articles of Association, under the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06864606 (England and Wales)

Registered Charity number

1137944

Registered office

923 Finchley Road

Golders Green

London

NW11 7PE

Trustees

D Myerson Trustee

E M Weisz Trustee

Independent Examiner

Joseph Kahan Associates LLP

Chartered Accountants

923 Finchley Road

London

NW11 7PE

PUBLIC BENEFIT

The trustees have carefully considered the public benefit requirements and their duty to ensure that they are compliant with them. They feel that the activities as detailed below, more than adequately, satisfy the public benefit requirement.

The trustees continue to operate within the confines of the charity objectives namely in respect of the promotion and advancement of Jewish Religious Education in particular by providing grants to the Jerusalem Kollel. Where the grants are given, the trustees follow it through to ensure that the grants are used for the purposes for which they are needed.

The trustees are of the opinion that the following through of these grants ensure that the aims and objects of the charity is met.

Approved by order of the board of trustees on 18 March 2021 and signed on its behalf by:

E M Weisz - Trustee

Independent examiner's report to the trustees of Friends of the Jerusalem Kollel ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2020.

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

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.

Akiva Kahan FCA

Joseph Kahan Associates LLP

Chartered Accountants

923 Finchley Road

London

NW11 7PE

Date: ............. March 2021

2020

2019

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

33,108

33,058

EXPENDITURE ON

Charitable activities

2

General

30,671

40,906

NET INCOME/(EXPENDITURE)

2,437

(7,848

)

RECONCILIATION OF FUNDS

Total funds brought forward

7,380

15,228

TOTAL FUNDS CARRIED FORWARD

9,817

7,380

2020

2019

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Debtors

6

80

80

Cash in hand

10,037

7,550

10,117

7,630

CREDITORS

Amounts falling due within one year

7

(300

)

(250

)

NET CURRENT ASSETS

9,817

7,380

TOTAL ASSETS LESS CURRENT LIABILITIES

9,817

7,380

NET ASSETS

9,817

7,380

FUNDS

8

Unrestricted funds

9,817

7,380

TOTAL FUNDS

9,817

7,380

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

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 18 March 2021 and were signed on its behalf by:

E M Weisz - Trustee

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.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

2.	CHARITABLE ACTIVITIES COSTS

Grant

Support

Direct

funding of

costs (see

Costs

activities

note 3)

Totals

£

£

£

£

General

121

30,100

450

30,671

3.	SUPPORT COSTS

Governance

Management

costs

Totals

£

£

£

General

150

300

450

4.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2020 nor for the year ended 31 March 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2020 nor for the year ended 31 March 2019.

5.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

33,058

EXPENDITURE ON

Charitable activities

General

40,906

NET INCOME/(EXPENDITURE)

(7,848

)

RECONCILIATION OF FUNDS

Total funds brought forward

15,228

TOTAL FUNDS CARRIED FORWARD

7,380

6.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

80

80

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Accrued expenses

300

250

8.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.19

in funds

31.3.20

£

£

£

Unrestricted funds

General fund

7,380

2,437

9,817

TOTAL FUNDS

7,380

2,437

9,817

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

33,108

(30,671

)

2,437

TOTAL FUNDS

33,108

(30,671

)

2,437

Comparatives for movement in funds

Net

movement

At

At 1.4.18

in funds

31.3.19

£

£

£

Unrestricted funds

General fund

15,228

(7,848

)

7,380

TOTAL FUNDS

15,228

(7,848

)

7,380

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

33,058

(40,906

)

(7,848

)

TOTAL FUNDS

33,058

(40,906

)

(7,848

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.4.18

in funds

31.3.20

£

£

£

Unrestricted funds

General fund

15,228

(5,411

)

9,817

TOTAL FUNDS

15,228

(5,411

)

9,817

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

66,166

(71,577

)

(5,411

)

TOTAL FUNDS

66,166

(71,577

)

(5,411

)

9.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2020.