IRIS Accounts Production v24.1.9.2 Other Company accounts True false Pounds 1.1.23 31.12.23 31.12.23 FY Mr B S Mitchell E Itzinger Mr P J Groman-Marks Mr D M Burney Mr Y Y Sufrin Mr L R Young J A Osen FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064327152022-12-31064327152023-12-31064327152023-01-012023-12-31064327152021-12-31064327152022-01-012022-12-31064327152022-12-3106432715ns0:CharitableCompanyLimitedByGuarantee2023-01-012023-12-3106432715ns15:PoundSterling2023-01-012023-12-3106432715ns0:Trustee12023-01-012023-12-3106432715ns0:Trustee22023-01-012023-12-3106432715ns0:Trustee32023-01-012023-12-3106432715ns0:Trustee42023-01-012023-12-3106432715ns0:Trustee52023-01-012023-12-3106432715ns0:Trustee62023-01-012023-12-3106432715ns0:Trustee72023-01-012023-12-3106432715ns11:FRS1022023-01-012023-12-3106432715ns11:IndependentExaminationCharity2023-01-012023-12-3106432715ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106432715ns11:FullAccounts2023-01-012023-12-3106432715ns11:CharitiesSORP2023-01-012023-12-3106432715ns16:EnglandWales2023-01-012023-12-3106432715ns11:RegisteredOffice2023-01-012023-12-3106432715ns11:CompanySecretary12023-01-012023-12-3106432715ns0:TotalUnrestrictedFunds2023-01-012023-12-3106432715ns0:TotalRestrictedIncomeFunds2023-01-012023-12-3106432715ns0:TotalUnrestrictedFunds2022-12-3106432715ns0:TotalRestrictedIncomeFunds2022-12-3106432715ns0:TotalUnrestrictedFunds2023-12-3106432715ns0:TotalRestrictedIncomeFunds2023-12-3106432715ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-12-3106432715ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-12-3106432715ns10:WithinOneYear2023-12-3106432715ns10:WithinOneYear2022-12-3106432715ns0:TotalUnrestrictedFundsns10:AfterOneYear2023-12-3106432715ns10:AfterOneYearns0:TotalRestrictedIncomeFunds2023-12-3106432715ns10:AfterOneYear2023-12-3106432715ns10:AfterOneYear2022-12-3106432715ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-01-012023-12-3106432715ns10:FurnitureFittingsToolsEquipment2023-01-012023-12-3106432715ns10:MotorVehicles2023-01-012023-12-3106432715ns10:ComputerEquipment2023-01-012023-12-310643271522023-01-012023-12-310643271532023-01-012023-12-310643271512023-01-012023-12-310643271512022-01-012022-12-3106432715132023-01-012023-12-3106432715132022-01-012022-12-3106432715ns10:OwnedAssets2023-01-012023-12-3106432715ns10:OwnedAssets2022-01-012022-12-3106432715ns0:GBP60001ToGBP700002023-01-012023-12-3106432715ns0:GBP60001ToGBP700002022-01-012022-12-3106432715ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-12-3106432715ns10:FurnitureFittings2022-12-3106432715ns10:MotorVehicles2022-12-3106432715ns10:ComputerEquipment2022-12-3106432715ns10:FurnitureFittings2023-01-012023-12-3106432715ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-12-3106432715ns10:FurnitureFittings2023-12-3106432715ns10:MotorVehicles2023-12-3106432715ns10:ComputerEquipment2023-12-3106432715ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-12-3106432715ns10:FurnitureFittings2022-12-3106432715ns10:MotorVehicles2022-12-3106432715ns10:ComputerEquipment2022-12-3106432715ns10:BetweenTwoFiveYears2023-12-3106432715ns10:BetweenTwoFiveYears2022-12-31
REGISTERED COMPANY NUMBER: 06432715 (England and Wales)
REGISTERED CHARITY NUMBER: 1123001












REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11 to 18

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)

REPORT OF THE TRUSTEES
for the year ended 31 December 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 December 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are:
(i) the advancement of the Orthodox Jewish religion in accordance with the principles of Chabad Lubavitch;
(ii) the advancement of Orthodox Jewish religious education;
(iii) the relief of poverty and sickness and the advancement of education amongst persons of the Jewish faith.
(iv) such other charitable objects or charitable purposes as the charity may from time to time determine.


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)

REPORT OF THE TRUSTEES
for the year ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are pleased to recognize the continued success of our Patrons & Friends campaign, started 7+ years ago. We hope to arrange a "special event" for these funding "partners" in the next few months.

We continue to raise additional funds to support the expansion of our activities throughout Essex by allocating a proportion of the results of our annual "crowdfunding" campaigns. During the year reported, the charity supplied significant seed funding to our newest location in Southend on Sea, Essex.

In summary, all the funds are raised from a large and varied number of sources and the close management of costs have allowed the charity to continue operating and thus maintain vital support to the local and wider communities throughout Essex.

It is through the results of our various fundraising activities throughout our locations, Spinathon Event and monthly standing order campaign specifically in support of Chabad Aid (Food distribution Project), also CET - Chabad Events Team, the Patrons & Friends campaign, the "crowdfunding" events and our bi-annual mailing appeals, Synagogue and friendship support, regular standing orders and periodic additional donations that we ensure that our many activities are self-funded.

The challenges within the UK economy has resulted in an increased demand for the social and welfare activities provided by the charity. The trustees remain committed to ensuring that Chabad can continue to maintain the vital services and programmes it provides across Essex. Other potential areas in Essex, including Havering, continue to be under consideration. To this end, the Trustees have continued to meet and communicate regularly to oversee and scrutinize the expenditure of our Chabad Centres to ensure that every "£" raised from our supporters is spent responsibly.

During 2023, our Chabad Centres throughout Essex strived to offer extensive and varied activities and services and support in new and innovative ways. Our summer day camp in 2023 was a success and a springboard for the upcoming 2024 programme. Weekly Hebrew classes have been maintained from all our Centres. Our Adult education programs have increased both in numbers and in content whether in person or via Zoom. Under the Chabad Aid Project we continue to see an increased demand for "Chabad" home cooked meals, combined with a significant food distribution programme supported by donations through "Fare Share", and many other benefactors ensures that many hundreds of people benefit directly from our organisation and effort of a team of totally committed volunteers.

Counselling services have continued to increase in response to the crisis needs of those affected by the ills of addiction, combined with direct access to professional family and other classifications of counselling.

The Trustees commitment to Chabad's expansion is ongoing.

PUBLIC BENEFIT REPORT
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. In particular, the trustees consider how planned activities will contribute to the aims and objectives set.

FINANCIAL REVIEW
Financial position
During the year, the charity reported a net deficit of £127,066 (2022 - £127,562) taking the total funds carried forward to £434,602 (2022 - £561,668). Chabad has continued to deliver a hugely modified range of innovative services and support, and with the commitment of an enlarged team of volunteers, our budgets will be met ensuring we continue the delivery of our ongoing and future development plans.


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)

REPORT OF THE TRUSTEES
for the year ended 31 December 2023


FINANCIAL REVIEW
Investment policy and objectives
Under its Memorandum of Association the charity has the power to invest in any way the trustees wish.

The trustees, having regard to the liquidity requirements of operating the charity have maintained a policy of keeping available funds in interest bearing deposit accounts.

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 donations and grants. The trustees consider that the ideal level of reserves as at 31 December 2023 would be three months of the expenditure which equates to approximately £200,000. The actual reserves at 31 December 2023 were £434,602 of which free reserves were £107,265. The trustees review the funds regularly to address any shortfall in reserves and to ensure that there are sufficient reserves to provide financial stability and flexibility.

FUTURE PLANS
The charity is currently working on implementation of a five-year strategic plan which encompasses five key objectives:

- To expand, develop and continually improve our services to meet the needs of existing and potential users;
- To attract, recruit and retain the best quality staff and volunteers;
- To provide high quality, cost effective service delivery across all our services;
- To establish new partnerships and build on existing relationships and work with our partners in the areas; and
- To continue the expansion of the Chabad Centres throughout Essex.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Chabad Lubavitch Centre North East London and Essex Limited is a company limited by guarantee without share capital, incorporated on 21 November 2007 and registered as a charity on 28 February 2008.

The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees
New trustees are appointed due to their interest in the work of the charity and their recognised experience in specific fields which will further support the work of Chabad Lubavitch Centre. Trustees can retire when they wish as they do not serve under a fixed term of tenure. The trustees are pleased to report that the Executive Board comprises those offering the necessary levels of expertise for the charity whilst increasing network opportunities.

Organisational structure
The board of trustees administers the charity. The board meets twice quarterly.

The board of trustees is assisted by the charity's directors.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06432715 (England and Wales)

Registered Charity number
1123001


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)

REPORT OF THE TRUSTEES
for the year ended 31 December 2023

Registered office
Doris Shpiro House
397 Eastern Avenue
Ilford
Essex
IG2 6LR

Trustees
The charity is managed by a board of trustees who are also the company directors. The following served as trustees and directors during the year:

Mr B S Mitchell
Mr D M Burney (Chair)
Mr P J Groman-Marks
Mr E Itzinger
Mrs J A Osen
Mr YY Sufrin
Mr L R Young (Resigned on 11 December 2023)

Company Secretaries
Mr B S Mitchell
Mr A S Brandman

Independent Examiner
Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

Approved by order of the board of trustees on 13 September 2024 and signed on its behalf by:





Mr B S Mitchell - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

Independent examiner's report to the trustees of Chabad Lubavitch Centres North East London And Essex Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

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.








Mr Yedidya Zaiden

Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

13 September 2024

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 December 2023

2023 2022
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 726,046 4,245 730,291 627,949

Other trading activities 3 9,484 - 9,484 4,994
Investment income 4 26,323 - 26,323 26,104
Total 761,853 4,245 766,098 659,047

EXPENDITURE ON
Raising funds 5 4,198 - 4,198 3,874

Charitable activities 6
Education and the relief of poverty 884,721 4,245 888,966 782,735
Total 888,919 4,245 893,164 786,609

NET INCOME/(EXPENDITURE) (127,066 ) - (127,066 ) (127,562 )


RECONCILIATION OF FUNDS
Total funds brought forward 561,668 - 561,668 689,230

TOTAL FUNDS CARRIED FORWARD 434,602 - 434,602 561,668

CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)

BALANCE SHEET
31 December 2023

2023 2022
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 327,337 - 327,337 343,899

CURRENT ASSETS
Stocks 12 14,879 - 14,879 12,379
Debtors 13 93,243 - 93,243 21,058
Cash at bank 38,975 - 38,975 226,105
147,097 - 147,097 259,542

CREDITORS
Amounts falling due within one year 14 (24,732 ) - (24,732 ) (16,673 )

NET CURRENT ASSETS 122,365 - 122,365 242,869

TOTAL ASSETS LESS CURRENT
LIABILITIES

449,702

-

449,702

586,768

CREDITORS
Amounts falling due after more than one year 15 (15,100 ) - (15,100 ) (25,100 )

NET ASSETS 434,602 - 434,602 561,668
FUNDS 17
Unrestricted funds 434,602 561,668
TOTAL FUNDS 434,602 561,668

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED (REGISTERED NUMBER: 06432715)

BALANCE SHEET - continued
31 December 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 13 September 2024 and were signed on its behalf by:





Mr B S Mitchell - Trustee

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

CASH FLOW STATEMENT
for the year ended 31 December 2023

2023 2022
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (172,737 ) (102,470 )
Interest paid (4,716 ) (4,315 )
Net cash used in operating activities (177,453 ) (106,785 )

Cash flows from investing activities
Purchase of tangible fixed assets - (29,309 )
Interest received 323 104
Net cash provided by/(used in) investing activities 323 (29,205 )

Cash flows from financing activities
Loan repayments in year (10,000 ) (9,067 )
Net cash used in financing activities (10,000 ) (9,067 )

Change in cash and cash equivalents in the
reporting period

(187,130

)

(145,057

)
Cash and cash equivalents at the beginning
of the reporting period

226,105

371,162
Cash and cash equivalents at the end of the
reporting period

38,975

226,105

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE CASH FLOW STATEMENT
for the year ended 31 December 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023 2022
£    £   
Net expenditure for the reporting period (as per the Statement of
Financial Activities)

(127,066

)

(127,562

)
Adjustments for:
Depreciation charges 16,562 19,773
Interest received (323 ) (104 )
Interest paid 4,716 4,315
(Increase)/decrease in stocks (2,500 ) 2,000
(Increase)/decrease in debtors (72,185 ) 10,534
Increase/(decrease) in creditors 8,059 (11,426 )
Net cash used in operations (172,737 ) (102,470 )


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank 226,105 (187,130 ) 38,975
226,105 (187,130 ) 38,975

Debt
Debts falling due within 1 year (10,000 ) - (10,000 )
Debts falling due after 1 year (25,100 ) 10,000 (15,100 )
(35,100 ) 10,000 (25,100 )
Total 191,005 (177,130 ) 13,875

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 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.

Going concern
The trustees, having made appropriate enquiries, consider that adequate resources exists for the charity to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt going concern basis in preparing the financial statements as at and for the period ended 31 December 2023. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The trustees 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 a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet the liabilities as they fall due.

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.

Turnover comprises rental and service charge income, excluding Value Added Tax, which is recognised in the period which it is earned. Amounts invoiced in excess of the amounts earned during the period are recognised as deferred income in creditors.

Gifts in kind and donated services
Gifts in kind and donated services are included at the lower of their value to the charity and their estimated market value.

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
The cost of charitable activities comprises those 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.

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 - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

1. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors 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 settlement can be estimated reliably.

Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. DONATIONS AND LEGACIES
2023 2022
£    £   
Donations 674,991 580,564
Events and Function income 51,055 31,786
Grants received 4,245 15,599
730,291 627,949

Grants received, included in the above, are as follows:

2023 2022
£    £   
Community Security Trust (CST) 4,245 5,683
Local council grants - 9,916
4,245 15,599

3. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Shop income 9,484 4,994

4. INVESTMENT INCOME
2023 2022
£    £   
Rents received 26,000 26,000
Interest receivable 323 104
26,323 26,104


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. RAISING FUNDS

Other trading activities
2023 2022
£    £   
Purchases 4,198 3,874

6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£    £    £   
Education and the relief of poverty 734,121 154,845 888,966

7. SUPPORT COSTS
Office
and
administration Governance Totals
£    £    £   
Education and the relief of poverty 154,807 38 154,845

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 16,562 19,773

There were no Independent Examiners fees for the year ended 31 December 2023 nor for the year ended 31 December 2022.

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.



CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

10. STAFF COSTS
2023 2022
£    £   
Wages and salaries 232,127 215,100
Social security costs 16,777 14,685
Other pension costs 64,708 69,121
313,612 298,906

The average monthly number of employees during the year was as follows:

2023 2022
Management, operational and admin 10 10

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2023 2022
£60,001 - £70,000 1 1

11. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 and
31 December 2023

346,514

109,341

27,050

16,522

499,427

DEPRECIATION
At 1 January 2023 41,146 85,004 16,996 12,382 155,528
Charge for year 6,930 6,084 2,513 1,035 16,562
At 31 December 2023 48,076 91,088 19,509 13,417 172,090
NET BOOK VALUE
At 31 December 2023 298,438 18,253 7,541 3,105 327,337
At 31 December 2022 305,368 24,337 10,054 4,140 343,899


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

12. STOCKS
2023 2022
£    £   
Goods for resale 14,879 12,379

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 86,445 1,700
Prepayments and accrued income 6,798 19,358
93,243 21,058

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans (see note 16) 10,000 10,000
Social security and other taxes 12,055 5,393
Other creditors 2,677 1,280
24,732 16,673

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 16) 15,100 25,100

16. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Bank loan 10,000 10,000
Amounts falling between one and two years:
Bank loan 10,000 10,000
Amounts falling due between two and five years:
Bank loan 5,100 15,100


CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

17. MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 561,668 (127,066 ) 434,602

TOTAL FUNDS 561,668 (127,066 ) 434,602

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 761,853 (888,919 ) (127,066 )

Restricted funds
Community Security Trust (CST) 4,245 (4,245 ) -

TOTAL FUNDS 766,098 (893,164 ) (127,066 )


Comparatives for movement in funds

Net
movement At
At 1.1.22 in funds 31.12.22
£    £    £   
Unrestricted funds
General fund 689,230 (127,562 ) 561,668

TOTAL FUNDS 689,230 (127,562 ) 561,668

CHABAD LUBAVITCH CENTRES NORTH EAST
LONDON AND ESSEX LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 653,364 (780,926 ) (127,562 )

Restricted funds
Community Security Trust (CST) 5,683 (5,683 ) -

TOTAL FUNDS 659,047 (786,609 ) (127,562 )

Unrestricted funds are those available to the trustees for the general purposes of the charity. Although the balance sheet indicates closing unrestricted funds amounting to £434,062, a significant portion of this figure is tied up in tangible assets of the charity. The actual free reserves available for operational use total £107,265.

Restricted funds
During the year, the charity received donations and grants to be applied fo specific purposes as listed below:

Community Security Trust (CST)
Funds from the Community Security Trust to cover the security expenses for the charity.

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the years ended 31 December 2023 and 31 December 2022.