{"id":73438,"date":"2016-08-23T09:00:48","date_gmt":"2016-08-23T09:00:48","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=a565e48a612f7e2ce8e51dcee0856d2f"},"modified":"2016-08-23T09:00:48","modified_gmt":"2016-08-23T09:00:48","slug":"press-release-new-charity-investigation-chessed-lyisroel-ltd","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=73438","title":{"rendered":"Press release: New charity investigation: Chessed L\u2019Yisroel Ltd"},"content":{"rendered":"
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The Charity Commission, the independent regulator of charities in England and Wales, has opened a statutory inquiry into Chessed L\u2019Yisroel Ltd, registered charity number 1075893<\/a>. The inquiry was opened on 21 July 2016.<\/p>\n

The charity has objects to advance religion in accordance with the Orthodox Jewish faith and to relieve poverty.<\/p>\n

The commission announced on 27 June 2014 that it was adding Chessed L\u2019Yisroel to its class inquiry into charities in default of their statutory reporting obligations. The charity at that time had not filed annual returns, reports and accounts with the commission by the due dates for 4 years. Reports and accounts submitted to the commission since then as part of the double defaulter class inquiry have raised significant regulatory concerns.<\/p>\n

The annual accounts initially submitted for the financial periods ending 30 September 2009 and 31 December 2010 contained no independent audit reports, which was in breach of the Charities Act given the charity\u2019s income.<\/p>\n

Analysis of the charity\u2019s bank statements by the commission highlighted a significant discrepancy with the financial activity declared in its 2011 accounts, which reported an income of approximately \u00a3140,000 and expenditure of \u00a3139,000. The charity has since resubmitted a conflicting set of accounts for 2011 which show an income of approximately \u00a3632,000 and expenditure of \u00a3724,000. The resubmitted accounts for 2011 contains a qualified audit opinion, which prompts concerns about the charity\u2019s financial affairs.<\/p>\n

In addition, in 2011, the charity failed to meet repayment obligations to a lender, resulting in the repossession of the charity\u2019s properties and a loss to the charity of \u00a3256,084. That same year, the charity took out a loan for \u00a3131,489, which has not been repaid. The charity has failed to adequately explain why it did not make its repayment obligations or what it did with the money it borrowed.<\/p>\n

The inquiry will examine:<\/p>\n