Kehal Chasidei Wiznitz Limited - Charities report - 22.2
Kehal Chasidei Wiznitz Limited - Charities report - 22.2
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
KEHAL CHASIDEI WIZNITZ LIMITED |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
KEHAL CHASIDEI WIZNITZ LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 12 |
KEHAL CHASIDEI WIZNITZ LIMITED |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Sugarwhite Meyer Accountants Ltd |
First Floor |
94 Stamford Hill |
London |
N16 6XS |
BANKERS |
Finsbury Park |
London |
N4 2AW |
KEHAL CHASIDEI WIZNITZ LIMITED (REGISTERED NUMBER: 06354517) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 AUGUST 2022 |
Reference and administrative information |
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report. |
OBJECTIVES AND ACTIVITIES |
Objects for public benefit |
The objects of the charity are, the advancement of the Orthodox Jewish Faith, the advancement of Orthodox Jewish Religious Education and the relief of poverty, sickness and infirmity amongst members the Jewish Faith in any part of the world. |
The trustees have considered the Charity Commission's guidance on public benefit. |
Charitable activities |
The charity operates a voucher system, allowing donors control of their giving in an easy manageable, tax efficient manner. Incoming resources on the unrestricted fund comprise, in the main, fee income from donors to the voucher system, and on the restricted fund income from donations into individual and company accounts. |
Grantmaking |
Grants on the unrestricted fund are made at the trustees' discretion from their knowledge of the various institutions. On the restricted fund grants are made in accordance with the wishes of the donor provide they accord with the objects of the charity. |
FINANCIAL REVIEW |
Financial review |
Income decreased by 6% over the previous year and grantmaking decreased by 12%. The charity made a deficit for the year which was funded by reserves held. |
Reserves policy |
The charity does not have a specific reserve policy. Grants are made whenever an appropriate need for funds arise on the unrestricted fund and at the donors' discretion from the restricted funds. At the year end unrestricted funds were £4,204( 2021 - £3,689) and restricted funds £0 (2021 - £3,156). |
FUTURE PLANS |
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Constitution |
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 28 August 2008. |
Recruitment and appointment of new trustees |
The power to appoint new trustees is vested in the continuing board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures. |
Risk management |
The trustees have reviewed the major risks that the charity is exposed and confirm that they have established systems to mitigate them.. |
KEHAL CHASIDEI WIZNITZ LIMITED (REGISTERED NUMBER: 06354517) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 AUGUST 2022 |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
KEHAL CHASIDEI WIZNITZ LIMITED |
Independent examiner's report to the trustees of Kehal Chasidei Wiznitz Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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 member of the Institute of Chartered Accountants in England and Wales, 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. |
E Meyer FCA BSc |
Sugarwhite Meyer Accountants Ltd |
First Floor |
94 Stamford Hill |
London |
N16 6XS |
20 June 2023 |
KEHAL CHASIDEI WIZNITZ LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 AUGUST 2022 |
2022 | 2021 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Charitable activities | 3 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 6,845 |
KEHAL CHASIDEI WIZNITZ LIMITED (REGISTERED NUMBER: 06354517) |
BALANCE SHEET |
31 AUGUST 2022 |
2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds: |
General fund | 4,204 | 3,689 |
Restricted funds: |
Restricted fund | - | 3,156 |
TOTAL FUNDS | 6,845 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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. |
KEHAL CHASIDEI WIZNITZ LIMITED (REGISTERED NUMBER: 06354517) |
BALANCE SHEET - continued |
31 AUGUST 2022 |
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 |
KEHAL CHASIDEI WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 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 |
Donations are included in full in the Statement of Financial Activities when received. |
Expenditure |
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates. |
Grants are only recognised in the accounts when paid |
Support costs are those incurred to assist the work of the charity but are not direct charitable activities. |
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. |
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. |
Going concern |
There are no material uncertainties about the charity's ability to continue. |
2. | OTHER TRADING ACTIVITIES |
2022 | 2021 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Fee income | 17,983 | - | 17,983 | 18,360 |
KEHAL CHASIDEI WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
3. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities | Support |
(see note | costs (see |
4) | note 5) | Totals |
£ | £ | £ |
Grantmaking | 360,384 | - | 360,384 |
Support Costs | - | 1,905 | 1,905 |
360,384 | 1,905 | 362,289 |
4. | GRANTS PAYABLE |
2022 | 2021 |
£ | £ |
Grantmaking | 360,384 | 408,654 |
The total grants paid to institutions during the year was as follows: |
2022 | 2021 |
£ | £ |
Education | 97,662 | 109,039 |
Advancement of religion | 108,054 | 75,989 |
Relief of poverty | 132,231 | 180,638 |
Medical | 7,469 | 15,652 |
General purposes | 2,408 | - |
Social welfare | 7,375 | 12,000 |
Shir Chesed Beis Yisroel | 15,014 |
Chaim Shel Torah | 14,933 |
Keren Chochmas Shlomo | 13,414 |
Live and Learn | 12,500 |
Wiznitz Bnei Brak | 11,250 |
Others under £10,000 | 288,088 |
355,199 |
The total grants paid to individuals during the year was as follows: |
2022 | 2021 |
£ | £ |
Relief of poverty | 5,185 | 15,336 |
KEHAL CHASIDEI WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
5. | SUPPORT COSTS |
Governance |
Finance | Other | costs | Totals |
£ | £ | £ | £ |
Support Costs | 70 | 35 | 1,800 | 1,905 |
Support costs, included in the above, are as follows: |
Finance |
2022 | 2021 |
Support | Total |
Costs | activities |
£ | £ |
Bank charges | 70 | - |
Other |
2022 | 2021 |
Support | Total |
Costs | activities |
£ | £ |
Sundries | 35 | 1,835 |
Governance costs |
2022 | 2021 |
Support | Total |
Costs | activities |
£ | £ |
Independent examiner's fee | 540 | 540 |
Independent examiner's other fees | 1,260 | 1,260 |
General expenses | - | 962 |
1,800 | 2,762 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021. |
KEHAL CHASIDEI WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
7. | AVERAGE NUMBER OF STAFF |
The average number of staff in the year was Nil (2021 - Nil). |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Loan |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Accruals and deferred income |
10. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2022 | 2021 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
£ | £ | £ | £ |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
4,204 | - | 4,204 | 6,845 |
11. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 3,689 | 515 | 4,204 |
Restricted funds |
Restricted fund | 3,156 | (3,156 | ) | - |
TOTAL FUNDS | (2,641 | ) | 4,204 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 17,983 | (17,468 | ) | 515 |
Restricted funds |
Restricted fund | 341,665 | (344,821 | ) | (3,156 | ) |
TOTAL FUNDS | ( |
) | (2,641 | ) |
KEHAL CHASIDEI WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
11. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.9.20 | in funds | 31.8.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,343 | 2,346 | 3,689 |
Restricted funds |
Restricted fund | 36,253 | (33,097 | ) | 3,156 |
TOTAL FUNDS | 37,596 | (30,751 | ) | 6,845 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 18,360 | (16,014 | ) | 2,346 |
Restricted funds |
Restricted fund | 364,140 | (397,237 | ) | (33,097 | ) |
TOTAL FUNDS | 382,500 | (413,251 | ) | (30,751 | ) |
12. | RELATED PARTY DISCLOSURES |