2021-03-31-accounts

COMPANY REGISTRATION NUMBER: 02766675 CHARITY REGISTRATION NUMBER: 1037631

Talmud Torah Education Limited Company Limited by Guarantee Financial Statements 31 March 2021

BRINDLEY GOLDSTEIN LIMITED Chartered accountants & statutory auditor 103 High Street Waltham Cross Herts. EN8 7AN

Talmud Torah Education Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2021

	Page
Trustees’ annual report (incorporating the director's report)	1
Independent auditor's report to the members	5
Statement of financial activities (including income and
expenditure account)	10
Statement of financial position	11
Statement of cash flows	12
Notestothefinancialstatements	13

Talmud Torah Education Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 31 March 2021

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name	Talmud Torah Education Limited
Charity registration number	1037631
Company registration number	02766675
Principal office and registered	63a Lampard Grove
office	London
	N16 6XA
The trustees
	B. Berger
	S. Cik
	A. Frankel
Auditor	BrindleyGoldstein Limited
	Chartered accountants & statutory auditor
	103 High Street
	Waltham Cross
	Herts.
	EN87AN

Structure, governance and management

The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 17 November 1992.

Recruitment and appointment of new trustees

The power to appoint new trustees is vested in the current board. 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 encouraged to read the Charity Commission's various publications on trustees.

1

Talmud Torah Education Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 March 2021

Objectives and activities

The company is established for charitable purposes, its objectives being to advance religion in accordance with the Orthodox Jewish faith and for such other purposes as are recognised by English law as charitable.

The company operates a school for boys, which is based in North London and aims to provide its pupils with a sound education of the highest order.

Public benefit

The directors (trustees) confirm their compliance with the duty to have due regards to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.

As a matter of policy the company does not refuse education to those unable to contribute to the cost thereof and accepts students of mixed abilities, and although fees are charged for nursery education and for After-School club, those in financial hardship are given an allowance or are fully funded, according to circumstances. No child is refused necessary education because of an inability to pay.

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 school continued to grow to the satisfaction of the trustees. The number of pupils on 31 March 2021 reached 1048.

As part of their duties, the Trustees are constantly reviewing the level of services provided, and are prepared to introduce any improvements deemed necessary.

The trustees have continued to engage with leading experts in Charity law, Health and Safety, and continue to use the services of expert educational consultants.

This year, due to COVID-19, we had a lot of added expenses. This includes the School Housing Program which cost £21,678.00. We also sent a lot of extracurricular activities and worksheets to the children at home so that they shouldn't fall behind on their learning and should be suitably entertained which cost an additional £3,000.00.

As we are always looking to improve on the children's learning standards, we have spent a further £28,407.00 in extra education and in additional curriculum.

In line with our commitments to our students to provide optimal learning conditions, we have renovated more classrooms to excellent standards. This includes £30,582.00 for classroom furniture and £5,146.00 for new flooring.

The trustees wish to pay tribute to the loyal and hardworking staff and all those who have contributed to the running of the school and have enabled the schools ethos and standards to be maintained.

2

Talmud Torah Education Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 March 2021

Financial review

Income from nursery and after school club fees has increased during the year to £2,199,139 (2020: £2,064,119).

The trustees acknowledge the continuing assistance from the London Borough of Hackney for its nursery department.

Reserves policy

The trustees ensure that the charity has sufficient reserves and pledges to cover minimum commitments over at least the next two months.

Fundraising activities

A number of fundraising events and activities took place during the year. This resulted in satisfactory level of donations being received.

Financial results

As required by the SORP, incoming resources and resources expended show Donations in kind which represents an assessment of what the charity would incur if it were to pay a fair rent for the properties it occupies.

As a result of COVID-19 restrictions income has decreased to £2,737,789 during the year (2020: £2,813,537) and the charity reports a deficit for the year of £27,619 (2020: Deficit £18,284). The trustees are determined to keep within budget and continue to examine ways to increase income as well as savings in costs.

Trustees’ responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

3

Talmud Torah Education Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 March 2021

In preparing these financial statements, the trustees are required to:

• e —— select suitable accounting policies and then apply them consistently;

• ° observe the methods and principles in the applicable Charities SORP;

• e make judgments and accounting estimates that are reasonable and prudent;

• ° state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

• e so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and

• ° they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

The trustees’ annual report and the strategic report were approved on 3 December 2021 and signed on behalf of the board of trustees by:

S. Cik Trustee

4

Talmud Torah Education Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Talmud Torah Education Limited

Year ended 31 March 2021

Opinion

We have audited the financial statements of Talmud Torah Education Limited (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• e give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• ° have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• ° have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

5

Talmud Torah Education Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Talmud Torah Education Limited (continued)

Year ended 31 March 2021

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our Knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• e the information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• e the trustees’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• ° adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• ° the financial statements are not in agreement with the accounting records and returns; or

• ° certain disclosures of trustees’ remuneration specified by law are not made; or

e — we have not received all the information and explanations we require for our audit.

6

Talmud Torah Education Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Talmud Torah Education Limited (continued)

Year ended 31 March 2021

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and testing journal entries and the overall accounting records, particularly those that were significant and unusual.

Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

Assessing the extent of compliance, or lack of, with relevant laws and regulations.

Testing key revenue lines, for evidence of management bias.

Verification of key assets.

Obtaining third-party confirmation of material balances.

Documenting and verifying all significant related party balances and transactions.

Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud.

7

Talmud Torah Education Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Talmud Torah Education Limited (continued)

Year ended 31 March 2021

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• ° Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• ° Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• ° Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• ° Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

• ° Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

8

Talmud Torah Education Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of Talmud Torah Education Limited (continuea)

Year ended 31 March 2021

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

C. H. Goldstein FCA (Senior Statutory Auditor)

For and on behalf of

Brindley Goldstein Limited Chartered accountants & statutory auditor 103 High Street Waltham Cross Herts. EN8 7AN

3 December 2021

9

Talmud Torah Education Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2021

		2021	2021	2020
		Unrestricted
		funds	Totalfunds	Total funds
	Note	£	£	3
Income and endowments
Donations and legacies	5	2,341,027	2,341,027	2,416,775
Other income	6	396,762	396,762	396,762
Total income		2,737,789	2,737,789	2,813,537
Expenditure
Expenditure on raising funds:
Costs of other trading activities	7	45,091	45,091	76,741
Expenditure on charitable activities	8,9	2,720,317	2,720,317	2,755,080
Total expenditure		2,765,408	2,765,408	2,831,821
Net expenditure and net movement in funds		(27,619)	(27,619)	(18,284)
Reconciliation of funds
Total funds brought forward		421,031	421,031	439,315
Totalfundscarriedforward		393,412	393,412	421,031

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 13 to 20 form part of these financial statements.

10

Talmud Torah Education Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2021

		2021	2020
	Note	£	£
Fixed assets
Tangible fixed assets	14	298,972	287,845
Current assets
Debtors	15	-	8,900
Cash at bank and in hand		227,550	147,747
		227,550	156,647
Creditors: amounts falling due within one year	16	83,110	23,461
Net current assets		144,440	133,186
Total assets less current liabilities		443,412	421,031
Creditors: amounts falling due after more than one year	17	50,000	=
Net assets		393,412	421,031
Funds of the charity
Unrestricted funds		393,412	421,031
Totalcharityfunds	18	393,412	421,031

These financial statements were approved by the board of trustees and authorised for issue on 3 December 2021, and are signed on behalf of the board by:

S. Cik Trustee

The notes on pages 13 to 20 form part of these financial statements.

11

Talmud Torah Education Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2021

	2021	2020
	£	£
Cash flows from operating activities
Net expenditure	(27,619)	(18,284)
Adjustments for:
Depreciation of tangible fixed assets	57,154	53,403
Accrued expenses	3,600	—
Changes in:
Trade and other debtors	8,900	(8,300)
Trade and other creditors	56,049	(1,958)
Cash generated from operations	98,084	24,861
Net cash from operating activities	98,084	24,861
Cash flows from investing activities
Purchase of tangible assets	(68,281)	(103,407)
Net cash used in investing activities	(68,281)	(103,407)
Cash flows from financing activities
Proceeds from borrowings	50,000	-
Net cash from financing activities	50,000	=
Net increase/(decrease) in cash and cash equivalents	79,803	(78,546)
Cash and cash equivalents at beginning of year	147,747	226,293
Cashandcashequivalentsatendofyear	227,550	147,747

The notes on pages 13 to 20 form part of these financial statements.

12

Talmud Torah Education Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales anda registered charity in England and Wales. The address of the registered office is 68a Lampard Grove, London, N16 6XA.

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.

1. Accounting policies

Taxation

The charity is exempt from corporation tax on its charitable activities.

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 requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In the process of applying the entity's accounting policies no significant judgements or key sources of estimation were made by management that have any significant effect on the amounts recognised in the financial statements.

13

Talmud Torah Education Limited

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 March 2021

3. Accounting policies (continued)

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 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.

Resources expended

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.

Allocation and apportionment of costs

Costs are allocated and apportioned to the various categories of expenditure on the following basis:

(i) costs that relate solely to one activity are allocated to that activity.

(ii) costs that relate to more than one activity are split between the activities, based on the estimated usage attributable to each activity. In the case of staff costs the allocation is basaed on estimated staff time attributed to each activity.

(iii) costs that are common to all activities are categorised as support costs.

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.

14

Talmud Torah Education Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Tangible assets (continued)

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:

Plant and machinery - 15% reducing balance Fixtures and fittings - 15% reducing balance Motor vehicles - 25% reducing balance Computer Equipment - 33% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

15

Talmud Torah Education Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Financial instruments (continued)

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

Talmud Torah Education Limited is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required, not exceeding £1, to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.

5. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Donations
Donations	141,888	141,888	352,656	352,656
Fees from nursery & after-school club	2,199,139	2,199,139	2,064,119	2,064,119
	2,341,027	2,341,027	2,416,775	2,416,775

16

Talmud Torah Education Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

6. Other income

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Other income	396,762	396,762	396,762	396,762
7.	Costs of other trading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Costs of other trading activities	45,091	45,091	76,741	76,741
8.	Expenditure on charitable activities byfund type
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Charitable activities	2,716,715	2,716,715	2,750,881	2,750,881
	Support costs	3,602	3,602	4,199	4,199
		2,720,317	2,720,317	2,755,080	2,755,080
9.	Expenditure on charitable activities by activity type
		Activities
		undertaken		Total funds	Total fund
		directly Support costs		2021	2020
		£	£	£	£
	Charitable activities	2,716,715	-	2,716,715	2,750,881
	Governance costs	_	3,602	3,602	4,199
		2,716,715	3,602	2,720,317	2,755,080
10.	Net expenditure
	Net expenditure is stated after charging/(crediting):
				2021	2020
				£	£
	Depreciation of tangible fixed assets			57,154	53,403
11.	Auditors remuneration
				2021	2020
				£	£
	Feespayablefortheauditofthefinancialstatements			3,600	4,200

1. Staff costs

17

Talmud Torah Education Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

12. Staff costs (continued)

The average head count of employees during the year was 126 (2020: 126).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

13. Trustee remuneration and expenses

There were no trustees’ remuneration or other benefits for the year ended 31 March 2021.

There were no trustees’ expenses paid for the year ended 31 March 2021.

14. Tangible fixed assets

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|||||||||| |---|---|---|---|---|---|---|---|---| |Plant|and|Fixtures|and|Motor| |machinery|fittings|vehicles|Equipment|Total| |£|£|£|£|£| |Cost| |At|1|April|2020|108,137|493,587|32,953|8,970|643,647| |Additions|-|46,352|8,000|13,929|68,281| |At|31|March|2021|108,137|539,939|40,953|22,899|711,928| |Depreciation| |At|1|April|2020|85,297|239,885|26,660|3,960|355,802| |Charge|for|the|year|3,426|45,009|2,406|6,313|57,154| |At|31|March|2021|88,723|284,894|29,066|10,273|412,956| |Carrying|amount| |At|31|March|2021|19,414|255,045|11,887|12,626|298,972| |At|31|March|2020|22,840|253,702|6,293|5,010|287,845| |Debtors| |2021|2020| |£|£| |Loans|—|8,900| |Creditors:|amounts|falling|due|within|one|year| |2021|2020| |£|£| |Trade|creditors|79,510|22,702| |Accruals|and|deferred|income|3,600|=| |Social|security|and|other|taxes|-|759| |83,110|23,461|

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15. Debtors

1. Creditors: amounts falling due within one year

18

Talmud Torah Education Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

17. Creditors: amounts falling due after more than one year

				2021	2020
				£	£
Bank	loans	and	overdrafts	50,000	-

18. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
				At
	At		31 March 202
	1 April 2020	Income	Expenditure	1
	£	£	£	£
General funds	421,031	2,737,789	(2,765,408)	393,412
				At
	At			31 March 202
	1 April 2019	Income	Expenditure	0
	£	£	£	£
General funds	439,315	2,813,537	(2,831,821)	421,031
Analysis of net assets between funds
			Unrestricted	Total Funds
			Funds	2021
			£	£
Tangible fixed assets			298,972	298,972
Current assets			227,550	227,550
Creditors less than 1 year			(83,110)	(83,110)
Creditors greater than 1 year			(50,000)	(50,000)
Net assets			393,412	393,412
			Unrestricted	Total Funds
			Funds	2020
			£	£
Tangible fixed assets			287,845	287,845
Current assets			156,647	156,647
Creditors less than 1 year			(23,461)	(23,461)
Creditors greater than 1 year			-	-
Netassets			421,031	421,031

19. Analysis of net assets between funds

19

Talmud Torah Education Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

20. Analysis of changes in net debt

				At
		At1 Apr 2020	Cash flows	31 Mar 2021
		£	£	£
Cash	at bank and in hand	147,747	79,803	227,550
Debtdue	due after one year	—	(50,000)	(50,000)
		147,747	29,803	177,550

21. Related parties

There were no related party transactions for the year ended 31 March 2021.

20