REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
EMUNO EDUCATIONAL CENTRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
EMUNO EDUCATIONAL CENTRE LIMITED |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
EMUNO EDUCATIONAL CENTRE LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
EMUNO EDUCATIONAL CENTRE LIMITED |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31 MARCH 2023 |
TRUSTEES |
COMPANY SECRETARY | I Y Chersky |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
BANKERS |
London |
E1 1BS |
EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
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 2023. 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). |
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 object of the charity is to advance and promote Hasidic Judaism in the UK and in Israel in accordance with the denomination known as the 'Gerrer Hasidim'. This includes providing facilities to worship and study in accordance with their philosophy, supporting Gerrer educational institutions, especially higher Talmudical colleges, and providing general welfare assistance. Grants are also made to other institutions and charities. The charity owns a property which is used and run by the Gur Synagogue. |
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The trustees are satisfied with the results for the year. |
FINANCIAL REVIEW |
Reserves policy |
It is the policy of the trustees to distribute funds as available and therefore no provision is made for future funding. Reserves at the year end were ££2,003,654 (2022 - £2,003,182) of which £1,386 (2022- £663) are free reserves. |
FUTURE PLANS |
The trustees are winding down the activities of the charity which are being taken over by another charity of the Gerrer Institutions. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is constituted as limited company and is governed by its Memorandum and Articles of Association dated 20th April 1965. |
Organisational structure |
The day to day affairs or the charity is administered by the trustees. The power to appoint new trustees is vested in the trustees. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees. |
Risk management |
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them. |
EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
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 |
EMUNO EDUCATIONAL CENTRE LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 MARCH 2023 |
2023 | 2022 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds |
Charitable activities | 2 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,003,182 |
EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Total | Total |
funds | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds: |
General fund | 2,002,284 | 2,001,812 |
Subscribers funds | 1,370 | 1,370 |
2,003,182 |
TOTAL FUNDS | 2,003,182 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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. |
EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151) |
BALANCE SHEET - continued |
31 MARCH 2023 |
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 |
EMUNO EDUCATIONAL CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
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. |
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. |
Costs of raising funds are those incurred in seeking voluntary contributions and include activities with a fundraising purpose. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Office equipment | - |
No depreciation is provided on freehold land and building used as a functional asset. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Going concern |
There are no material uncertainties about the charity's ability to continue. |
EMUNO EDUCATIONAL CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities | Support |
(see note | costs (see |
3) | note 4) | Totals |
£ | £ | £ |
Grantmaking | 3,050 | - | 3,050 |
Support | - | 1,517 | 1,517 |
3,050 | 1,517 | 4,567 |
3. | GRANTS PAYABLE |
2023 | 2022 |
£ | £ |
Grantmaking | 3,050 | 6,000 |
The total grants paid to institutions during the year was as follows: |
2023 | 2022 |
£ | £ |
Advancement of religion | 3,050 | - |
Religious education | - | 6,000 |
The grant was made to Kupat Ezer Lenisuin Beth Yisroel. |
4. | SUPPORT COSTS |
Governance |
Other | costs | Totals |
£ | £ | £ |
Support | 106 | 1,411 | 1,517 |
Support costs, included in the above, are as follows: |
Governance costs |
2023 | 2022 |
Total |
Support | activities |
£ | £ |
Accountancy fees | 900 | 960 |
General expenses | 511 | 511 |
1,411 | 1,471 |
EMUNO EDUCATIONAL CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
7. | AVERAGE NUMBER OF EMPLOYEES |
The average number of staff in the year was Nil (2022 - Nil) |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Office |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
EMUNO EDUCATIONAL CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Accruals and deferred income |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,001,812 | 472 | 2,002,284 |
Subscribers funds | 1,370 | - | 1,370 |
472 |
TOTAL FUNDS | 472 | 2,003,654 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 6,240 | (5,768 | ) | 472 |
TOTAL FUNDS | ( |
) | 472 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,003,477 | (1,665 | ) | 2,001,812 |
Subscribers funds | 1,370 | - | 1,370 |
2,004,847 | (1,665 | ) | 2,003,182 |
TOTAL FUNDS | 2,004,847 | (1,665 | ) | 2,003,182 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 6,420 | (8,085 | ) | (1,665 | ) |
TOTAL FUNDS | 6,420 | (8,085 | ) | (1,665 | ) |
EMUNO EDUCATIONAL CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | RELATED PARTY DISCLOSURES |