Beis Chana Limited - Charities report - 22.1
Beis Chana Limited - Charities report - 22.1
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2021 |
| FOR |
| BEIS CHANA LIMITED |
| BEIS CHANA LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 July 2021 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 | to | 9 |
| BEIS CHANA LIMITED (REGISTERED NUMBER: 06959818) |
| REPORT OF THE TRUSTEES |
| for the year ended 31 July 2021 |
| 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 July 2021. 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 charity's objects and principal activities are: |
| a) The advancement of the Orthodox Jewish Religion amongst women of the Jewish faith in accordance with the principles of Chabad philosophy. |
| b) The advancement of Orthodox Jewish Religious education and education generally amongst women of the Jewish faith. |
| c) The relief of poverty illness infirmity and distress primarily but not exclusively amongst persons of the Jewish faith. |
| d) Such other purposes as may from time to time be charitable according to english law as the directors of the company shall determine. |
| Public benefit |
| The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities.The aims of the charitable company 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 charitable company's aims for the public benefit are outlined under 'Achievements and Performance' below. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| Beis Chana has provided support, activities and classes on a range of different topics both religious and secular for Jewish women and girls in a format which is sensitive to and appropriate for the religious ethos of its participants. Thanks to our hardworking volunteers Beis Chana is used seven days a week, often from 9am-11pm providing services and support. |
| During the year under review income increased from £17,079 to £23,417. Expenses decreased from £19,632 to £12,479. |
| Covid-19 |
| The Covid 19 pandemic has had a significant social and economic impact on communities worldwide. The trustees adapted their activities to comply with government’s policies and guidance and were able to continue their work. |
| FINANCIAL REVIEW |
| Investment policy and objectives |
| Under its Memorandum of Association the charity has power to invest in any way the trustees wish. |
| Reserves policy |
| The trustees have established the level of free 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 educational and grant activities and receiving resources through voluntary donations and grants. The trustees consider that the ideal level of reserves for the year ended 31 July 2021 would be three months of resources expended which is approximately £3,100 (2020 - £4,900). |
| The actual reserves as at 31 July 2021 were £20,148 (2020 - £9,210), and are considered adequate. |
| BEIS CHANA LIMITED (REGISTERED NUMBER: 06959818) |
| REPORT OF THE TRUSTEES |
| for the year ended 31 July 2021 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Recruitment and appointment of new trustees |
| New Trustees are appointed due to their interest in the work of charity and their recognised experience in specific fields which will further support the work of the Beis Chana Limited. |
| Organisational structure |
| The board of trustees administers the charity. The board meets quarterly. |
| Induction and training of new trustees |
| New trustees are given a full induction by one of the current trustees. Trustees can retire when they wish as they do not serve under a fixed term of tenure. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Mrs R Davidoff |
| Mrs F Sudak |
| Mrs M Potash |
| Mrs B Raskin |
| Approved by order of the board of trustees on |
| BEIS CHANA LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| for the year ended 31 July 2021 |
| 2021 | 2020 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Charitable activities | 4 |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 9,210 |
| BEIS CHANA LIMITED (REGISTERED NUMBER: 06959818) |
| BALANCE SHEET |
| 31 July 2021 |
| 2021 | 2020 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 8 |
| Unrestricted funds | 9,210 |
| TOTAL FUNDS | 9,210 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 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 |
| BEIS CHANA LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 July 2021 |
| 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. |
| Assessment of going concern |
| The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. |
| The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. |
| Exemption from preparing cash flow statement |
| The financial statements do not include a cash flow statement because the charitable company, as a small reporting entity, is exempt from the requirements to prepare such a statement under Charities SORP (FRS 102) Update Bulletin 1, Module 14. |
| 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. |
| 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. |
| 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. |
| BEIS CHANA LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 July 2021 |
| 1. | ACCOUNTING POLICIES - continued |
| Fund accounting |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| Cash at bank and in hand |
| Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months form the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. |
| Creditors and provision |
| Creditors and provision 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 provision 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 |
| 2021 | 2020 |
| £ | £ |
| Donations and membership fees |
| National lottery grant |
| 3. | INVESTMENT INCOME |
| 2021 | 2020 |
| £ | £ |
| Deposit account interest |
| 4. | CHARITABLE ACTIVITIES COSTS |
| Direct | Support |
| Costs | costs | Totals |
| £ | £ | £ |
| Outreach and Education | 11,371 | 1,108 | 12,479 |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020. |
| BEIS CHANA LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 July 2021 |
| 6. | STAFF COSTS |
| 2021 | 2020 |
| £ | £ |
| Wages and salaries |
| - | 2,132 |
| The average monthly number of employees during the year was as follows: |
| 2021 | 2020 |
| Charitable activities |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other creditors |
| Accrued expenses |
| 8. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.8.20 | in funds | 31.7.21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 9,210 | 10,938 | 20,148 |
| TOTAL FUNDS | 10,938 | 20,148 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 23,417 | (12,479 | ) | 10,938 |
| TOTAL FUNDS | ( |
) | 10,938 |
| BEIS CHANA LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 July 2021 |
| 8. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.8.19 | in funds | 31.7.20 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 11,763 | (2,553 | ) | 9,210 |
| TOTAL FUNDS | 11,763 | (2,553 | ) | 9,210 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 17,079 | (19,632 | ) | (2,553 | ) |
| TOTAL FUNDS | 17,079 | (19,632 | ) | (2,553 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.8.19 | in funds | 31.7.21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 11,763 | 8,385 | 20,148 |
| TOTAL FUNDS | 11,763 | 8,385 | 20,148 |
| 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 | 40,496 | (32,111 | ) | 8,385 |
| TOTAL FUNDS | 40,496 | (32,111 | ) | 8,385 |
| BEIS CHANA LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 July 2021 |
| 9. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 31 July 2021 or 31 July 2020. |