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COMPANY REGISTRATION NUMBER: 07505846
CHARITY REGISTRATION NUMBER: 1142268
Gesher
Company Limited by Guarantee
Unaudited Financial Statements
31 January 2023
Gesher
Company Limited by Guarantee
Financial Statements
Year ended 31 January 2023
Pages
Trustees' annual report (incorporating the director's report)
1 to 2
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 to 11
Gesher
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 January 2023
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 2023 .
Reference and administrative details
Registered charity name
Gesher
Charity registration number
1142268
Company registration number
07505846
Principal office and registered
5 Oxford Terrace
office
Gateshead
Tyne and Wear
NE8 1RQ
The trustees
C J A Kaufman
D Schleider
M Schleider
L Spitzer
Independent examiner
S Dejong FCCA
2nd Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
Structure, governance and management
Gesher is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 26 January 2011 as a company and the company number is 7505846. It was registered as a charity on 6 June 2011 with a charity number 1142268.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
Objectives and activities
The objectives of the charity are
a) The advancement of the orthodox Jewish faith.
b) To provide or assist in the provision of facilities particularly but not exclusively in accordance with the tenets of the Jewish faith for young adults in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
c) The relief of financial hardship, either generally or individually, of people on low income by making grants of money for providing or paying for items or services or facilities particularly but not exclusively for people of the Jewish faith.
d) To advance the Orthodox Jewish education of young people by providing and assisting in the provision of facilities (not required to be provided by the local education authority) for education.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
During the year the charity received £204,306 in donations and grants and spent £232,839 in furtherance of it objectives.
Financial review
As at 31 January 2023 the charity held free reserves of £82,761 (2022: £115,189) all of which were unrestricted.
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the charity's policy to maintain cash reserves of approximately four months of its average annual expenditure, to enable the charity to continue to operate effectively.
The trustees' annual report and the strategic report were approved on 26 October 2023 and signed on behalf of the board of trustees by:
D Schleider
Trustee
Gesher
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Gesher
Year ended 31 January 2023
I report to the trustees on my examination of the financial statements of Gesher ('the charity') for the year ended 31 January 2023.
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.
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.
S Dejong FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
26 October 2023
Gesher
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 January 2023
2023
2022
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
194,306
10,000
204,306
174,179
Other income
6
29,894
---------
--------
---------
---------
Total income
194,306
10,000
204,306
204,073
---------
--------
---------
---------
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies
7
3,325
3,325
2,826
Expenditure on charitable activities
8,9
219,514
10,000
229,514
184,092
---------
--------
---------
---------
Total expenditure
222,839
10,000
232,839
186,918
---------
--------
---------
---------
---------
--------
---------
---------
Net (expenditure)/income and net movement in funds
( 28,533)
( 28,533)
17,155
---------
--------
---------
---------
Reconciliation of funds
Total funds brought forward
223,821
223,821
206,666
---------
--------
---------
---------
Total funds carried forward
195,288
195,288
223,821
---------
--------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Gesher
Company Limited by Guarantee
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible fixed assets
16
199,939
202,788
Current assets
Cash at bank and in hand
113,589
142,966
Creditors: amounts falling due within one year
17
30,828
27,777
---------
---------
Net current assets
82,761
115,189
---------
---------
Total assets less current liabilities
282,700
317,977
Creditors: amounts falling due after more than one year
18
( 87,412)
( 94,156)
---------
---------
Net assets
195,288
223,821
---------
---------
Funds of the charity
Unrestricted funds
195,288
223,821
---------
---------
Total charity funds
19
195,288
223,821
---------
---------
For the year ending 31 January 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- 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 have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 26 October 2023 , and are signed on behalf of the board by:
D Schleider
Trustee
Gesher
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 January 2023
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 5 Oxford Terrace, Gateshead, Tyne and Wear, NE8 1RQ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is 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.
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Expenditure also includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Governance costs are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
1% straight line
Eqiupment
-
25% reducing balance
4. Limited by guarantee
The Charity is a Company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £l0.
5. Donations and legacies
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Donations
Donations
181,516
181,516
Seminar contributions
12,790
12,790
Grants
Grants receivable type 1
10,000
10,000
---------
--------
---------
194,306
10,000
204,306
---------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Donations
Donations
167,899
167,899
Seminar contributions
6,280
6,280
Grants
Grants receivable type 1
---------
----
---------
174,179
174,179
---------
----
---------
6. Other income
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
JRS and GMBC Covid Grants
29,894
29,894
----
----
--------
--------
7. Costs of raising donations and legacies
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Costs of raising donations
3,325
3,325
2,826
2,826
-------
-------
-------
-------
8. Expenditure on charitable activities by fund type
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Seminars
203,237
10,000
213,237
Follow Up Programme
6,727
6,727
Grants Payable
7,453
7,453
Support costs
2,097
2,097
---------
--------
---------
219,514
10,000
229,514
---------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Seminars
176,194
176,194
Follow Up Programme
3,792
3,792
Grants Payable
2,250
2,250
Support costs
1,856
1,856
---------
----
---------
184,092
184,092
---------
----
---------
9. Expenditure on charitable activities by activity type
Activities undertaken directly
Grant funding of activities
Support costs
Total funds 2023
Total fund 2022
£
£
£
£
£
Seminars
213,237
776
214,013
176,632
Follow Up Programme
6,727
6,727
3,792
Grants Payable
7,453
7,453
2,250
Governance costs
1,321
1,321
1,418
---------
-------
-------
---------
---------
219,964
7,453
2,097
229,514
184,092
---------
-------
-------
---------
---------
10. Analysis of support costs
Analysis of support costs activity 1
Total 2023
Total 2022
£
£
£
General office
776
776
438
Governance costs
1,320
1,320
1,418
-------
-------
-------
2,096
2,096
1,856
-------
-------
-------
11. Analysis of grants
2023
2022
£
£
Grants to institutions
British Friends of Netiv Aryeh
2,000
Grants to individuals
Relief of poverty grants
6,753
Student Grants
700
250
-------
-------
7,453
250
-------
-------
Total grants
7,453
2,250
-------
-------
12. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2023
2022
£
£
Depreciation of tangible fixed assets
2,849
3,067
-------
-------
13. Independent examination fees
2023
2022
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,320
1,320
-------
-------
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2023
2022
£
£
Wages and salaries
59,768
56,089
--------
--------
The average head count of employees during the year was 7 (2022: 8 ). The average number of full-time equivalent employees during the year is analysed as follows:
2023
2022
No.
No.
Number of staff
7
8
----
----
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
16. Tangible fixed assets
Freehold property
Equipment
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
219,477
17,197
236,674
---------
--------
---------
Depreciation
At 1 February 2022
19,307
14,579
33,886
Charge for the year
2,194
655
2,849
---------
--------
---------
At 31 January 2023
21,501
15,234
36,735
---------
--------
---------
Carrying amount
At 31 January 2023
197,976
1,963
199,939
---------
--------
---------
At 31 January 2022
200,170
2,618
202,788
---------
--------
---------
17. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,280
6,229
Accruals and deferred income
1,320
1,320
Social security and other taxes
228
228
Other creditors
20,000
20,000
--------
--------
30,828
27,777
--------
--------
18. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
87,412
94,156
--------
--------
The bank loan is secured on the free hold property held by the charity.
19. Analysis of charitable funds
Unrestricted funds
At 1 February 2022
Income
Expenditure
At 31 January 2023
£
£
£
£
General funds
223,821
194,306
(222,839)
195,288
---------
---------
---------
---------
At 1 February 2021
Income
Expenditure
At 31 January 2022
£
£
£
£
General funds
206,666
204,073
(186,918)
223,821
---------
---------
---------
---------
Restricted funds
At 1 February 2022
Income
Expenditure
At 31 January 2023
£
£
£
£
Restricted Funds
10,000
(10,000)
----
--------
--------
----
At 1 February 2021
Income
Expenditure
At 31 January 2022
£
£
£
£
Restricted Funds
----
----
----
----
20. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
199,939
199,939
Current assets
113,589
113,589
Creditors less than 1 year
(30,828)
(30,828)
Creditors greater than 1 year
(87,412)
(87,412)
---------
---------
Net assets
195,288
195,288
---------
---------
Unrestricted Funds
Total Funds 2022
£
£
Tangible fixed assets
202,788
202,788
Current assets
142,966
142,966
Creditors less than 1 year
(27,777)
(27,777)
Creditors greater than 1 year
(94,156)
(94,156)
---------
---------
Net assets
223,821
223,821
---------
---------