Ohr Emes Ltd - Charities report - 22.1
Ohr Emes Ltd - Charities report - 22.1
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
| OHR EMES LTD |
OHR EMES LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2022 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Cash Flow Statement | 8 |
Notes to the Cash Flow Statement | 9 |
Notes to the Financial Statements | 10 | to | 16 |
OHR EMES LTD (REGISTERED NUMBER: 12508816) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 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 31 March 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 objectives of the charity are as follows: |
| a) The relief of poverty, preservation of health and advancement of skills and education in the UK and any part of the world including, but not exclusively, by the provision of funds, items, advice and support as the trustees see fit. |
| b) The advancement of the Jewish faith in the United Kingdom and worldwide in accordance with the statement of faith. |
Public benefit |
| The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and 'The Advancement of Religion for the Public Benefit' in particular, when reviewing the aims and objectives and in planning the charity's future activities.The aims of the charity for the public benefit are detailed in the 'Objectives and Activities' section of this report and the main activities undertaken in order to carry out the charity's aims for the public benefit are outlined under 'Achievements and Performance' below. |
STRATEGIC REPORT |
Achievement and performance |
Charitable activities |
| The trustees seek to achieve the objectives of the charity by developing and broadening the range of activities it provides in support of the community and the beneficiaries it services. As the UK emerged from the Covid-19 pandemic, many families struggled to recover from circumstances which had effected their livelihoods and social wellbeing. The trustees were able to provide direct grants and other assistance and thereby deliver tangible and immediate benefit to the lives of the beneficiaries. Provision of education continued through the activities of the Ohr Emes Primary School which has thrived in the short years since it was established. |
Financial review |
Financial position |
The financial results for the period to 31 March 2022 are shown in the attached financial statements. |
Total income was £876,421 and total expenditure was £651,924. |
The total funds carried forward were £349,753. |
Reserves policy |
| The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary income. The trustees consider that the ideal level of reserves as at 31 March 2022 would be three months of resources expended which equates to approximately £160,000. |
| The actual free reserves as at 31 March 2022 were £189,860 (2021- £56,441) which is in line with our target figure. In calculating the reserves, the trustees have excluded from total funds, fixed assets and any restricted funds. |
| The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide for future financial stability and flexibility to help with the growth of the school and to enable the charity to expand its activities. |
Future plans |
Ohr Emes Limited will continue to expand and develop the activities it provides and the causes it supports which are in line with its objects. |
OHR EMES LTD (REGISTERED NUMBER: 12508816) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2022 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Ohr Emes is an incorporated registered charity (1193538) governed by its Memorandum and Articles of Association, dated 31 July 2020. |
Recruitment and appointment of new trustees |
| Trustees may be appointed by the existing trustees at any time, either to fill a casual vacancy or as an addition to the existing trustees. Any trustees so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election. |
| No trustee had any beneficial interest in any contract with the charitable entity during the year. |
| Potential trustees are invited to informally attend trustee meetings prior to appointment and a comprehensive induction programme is available. Additionally individual trustees may undertake external training in a particular area of their role on the Governing Body. |
Risk management |
| The trustees regularly undertake a review of the major risks to which the charity is exposed, and systems designed to mitigate those risks are considered on an ongoing basis. |
| The trustees recognise the absolute necessity of ensuring the protection and safety of all those that the charity serves. The charity has developed a safeguarding policy and one of the trustees is responsible for ensuring this policy is adhered to and that safeguarding training is provided to employees and volunteers and that those working within the school undergo enhanced clearance from the Disclosure and Barring Service. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Suda Ratnam |
FCCA |
Raffingers LLP |
Chartered Certified Accountants |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
OHR EMES LTD (REGISTERED NUMBER: 12508816) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2022 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
OHR EMES LTD |
Independent examiner's report to the trustees of Ohr Emes Ltd ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 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 registered member of FCCA 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. |
Suda Ratnam |
FCCA |
Raffingers LLP |
Chartered Certified Accountants |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
13 June 2022 |
OHR EMES LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
for the year ended 31 March 2022 |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 3 |
Provision of education, relief of poverty and the advancement of the Jewish faith | - | 206,359 | 206,359 | 157,840 |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
Provision of education, relief of poverty and the advancement of the Jewish faith | 445,565 | 206,359 | 651,924 | 284,945 |
NET INCOME |
Transfers between funds | 13 | 48,925 | (48,925 | ) | - | - |
Net movement in funds | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 76,331 |
TOTAL FUNDS CARRIED FORWARD | 125,256 |
OHR EMES LTD (REGISTERED NUMBER: 12508816) |
BALANCE SHEET |
31 March 2022 |
2022 | 2021 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 349,753 | 76,331 |
Restricted funds | - | 48,925 |
TOTAL FUNDS | 349,753 | 125,256 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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. |
OHR EMES LTD (REGISTERED NUMBER: 12508816) |
BALANCE SHEET - continued |
31 March 2022 |
These financial statements have been prepared in accordance with the provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
OHR EMES LTD |
CASH FLOW STATEMENT |
for the year ended 31 March 2022 |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 280,812 | 90,781 |
Net cash provided by operating activities | 280,812 | 90,781 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (132,344 | ) | (86,336 | ) |
Net cash used in investing activities | (132,344 | ) | (86,336 | ) |
Change in cash and cash equivalents in the reporting period | 148,468 | 4,445 |
Cash and cash equivalents at the beginning of the reporting period | 4,445 | - |
Cash and cash equivalents at the end of the reporting period | 152,913 | 4,445 |
OHR EMES LTD |
NOTES TO THE CASH FLOW STATEMENT |
for the year ended 31 March 2022 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) | 224,497 | 125,256 |
Adjustments for: |
Depreciation charges | 41,266 | 17,521 |
Decrease/(increase) in debtors | 4,548 | (57,811 | ) |
Increase in creditors | 10,501 | 5,815 |
Net cash provided by operations | 280,812 | 90,781 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.21 | Cash flow | At 31.3.22 |
£ | £ | £ |
Net cash |
Cash at bank | 4,445 | 148,468 | 152,913 |
4,445 | 148,468 | 152,913 |
Total | 4,445 | 148,468 | 152,913 |
OHR EMES LTD |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 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. |
Grant income |
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that: |
(a) the entity will comply with the conditions attached to them; and |
(b) the grants will be received. |
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. |
Charitable activities |
Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. |
Governance costs |
Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and costs linked to the strategic management of the charity. |
Allocation and apportionment of costs |
| Any overhead and support costs relating to charitable activities have been apportioned based on usage. |
Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to property | - |
Fixtures and fittings | - |
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. |
OHR EMES LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
| 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. |
Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
Donated goods |
Donated goods, facilities and services, including volunteers are included at the value to the charity where this can be quantified. |
Creditors and provisions |
| Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material. |
2. | DONATIONS AND LEGACIES |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
£ | £ |
Donations and contributions |
3. | INCOME FROM CHARITABLE ACTIVITIES |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
Activity | £ | £ |
Grants | Provision of education, relief of poverty and the advancement of the Jewish faith | 206,359 | 157,840 |
Grants received, included in the above, are as follows: |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
£ | £ |
Grants from local authorities | 206,359 | 157,840 |
OHR EMES LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
4. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities | Support |
Direct | (see note | costs (see |
Costs | 5) | note 6) | Totals |
£ | £ | £ | £ |
Provision of education, relief of poverty and the advancement of the Jewish faith | 274,936 | 262,672 | 114,316 | 651,924 |
5. | GRANTS PAYABLE |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
£ | £ |
Provision of education, relief of poverty and the advancement of the Jewish faith | 262,672 | 52,170 |
The total grants paid to institutions during the year was as follows: |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
£ | £ |
Beis Hamedrash Pe’er Meshulem D’Tosh | 3,250 | - |
Ezer Viznitz Foundation | - | 2,000 |
JCOCI Educational Foundation Ltd | 2,200 | - |
Ohr Emes Building Fund | 3,860 | - |
Toiras Mordche | 2,603 | 12,000 |
Donations less that £2,000 | 3,045 | - |
The total grants paid to individuals in the period were £247,714. |
6. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Provision of education, relief of poverty and the advancement of the Jewish faith | 109,665 | 4,651 | 114,316 |
OHR EMES LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
£ | £ |
Depreciation - owned assets |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the period ended 31 March 2021. |
Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2022 nor for the period ended 31 March 2021. |
9. | STAFF COSTS |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
£ | £ |
Wages and salaries |
Social security costs |
85,773 | 42,239 |
The average monthly number of employees during the year was as follows: |
Period |
10.3.20 |
Year Ended | to |
31.3.22 | 31.3.21 |
Charitable activities |
OHR EMES LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
10. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
Additions |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors and prepayments |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Social security and other taxes |
Other creditors |
13. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 76,331 | 224,497 | 48,925 | 349,753 |
Restricted funds |
Restricted | 48,925 | - | (48,925 | ) | - |
TOTAL FUNDS | 224,497 | 349,753 |
OHR EMES LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
13. | 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 | 670,062 | (445,565 | ) | 224,497 |
Restricted funds |
Restricted | 206,359 | (206,359 | ) | - |
TOTAL FUNDS | ( | ) | 224,497 |
Comparatives for movement in funds |
Net |
movement | At |
in funds | 31.3.21 |
£ | £ |
Unrestricted funds |
General fund | 76,331 | 76,331 |
Restricted funds |
Restricted | 48,925 | 48,925 |
TOTAL FUNDS | 125,256 | 125,256 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 252,361 | (176,030 | ) | 76,331 |
Restricted funds |
Restricted | 157,840 | (108,915 | ) | 48,925 |
TOTAL FUNDS | 410,201 | (284,945 | ) | 125,256 |
Restricted funds: |
The charity's restricted funds during the year were made up as follows: |
Name of fund | Description, nature and purpose of fund |
Local authority grants | Grants to assist with the provision of learning support and facilities |
Unrestricted funds represent funds available to the trustees for the general purposes of the charity. |
OHR EMES LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
14. | CONTINGENT LIABILITIES |
| There were no contingent liabilities at either the beginning or end of the financial period. |
15. | CAPITAL COMMITMENTS |
| At 31 March 2021 the charity had no capital commitments which had been contracted for but not provided in the financial statements. |
16. | RELATED PARTY DISCLOSURES |
| The institutions listed in note 5 include charities of which one of the trustees of this charity is also a trustee. |
| At the balance sheet date, the charity was owed £28,793 (2021 - £56,525) by Ezer Viznitz Foundation, a charity of which one of the trustees of this charity is a trustee. The loan is interest free. |