COMPANY REGISTRATION NUMBER: 02766675 CHARITY REGISTRATION NUMBER: 1037631 Talmud Torah Education Limited Company Limited by Guarantee Financial Statements 31 March 2024 BRINDLEY GOLDSTEIN LIMITED Chartered accountants & statutory auditor 103 High Street Wallham Cross Herts EN8 7AN
Talmud Torah Education Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the direclorfs report) Independent auditor's report to the members statement of financial activities (including income and expenditure account) 10 Statement of financial position 11 Statement of cash flows 12 Notes to the financial statements 13
Talmud Torah Education Limited Company Limited by Guarantee Trustees. Annual Report {Incorporating the Directorfs Report) Year ended 31 March 2024 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 2024. Reference and administrative detsils Registered charity name Talmud Torah Education Limited Charity registration number 1037631 Company registration number 02766675 Prlnclpal offlce and registered 111 Cazenove Road offlce London N16 6AX The trustees B. Berger S. Cik A. Frankel Auditor Brindley Goldstein Limited Chartered accountanls & statutory auditor 103 High Street Waltham Cross Herts EN8 7AN Structureg governanc8 and managament 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 wothing of the charity by the current board and are encouraged to read the Charity Commission's various publications on trustee5.
Talmud Torah Education Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Objectives and activities The company is established for charitable purposes, its objectives being to advance religion in accordance with the Orthodox Jewish faiih 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 provid8 Its pupils with a sound education of the highest order. Public benefit The directors (trustees) confirm their Compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities. The charity's support provides students with access to high-quality education, through good quality of resourc8s, skilled teachers, and a nurturing learning environment. By sending their children to our schools, parents ensure their kids receive a strong educational foundation, which can signrficantly improve their future opportunities. The charity's programs not only focus on academic excellence but also promote personal development and social skills. This comprehensive approach equips students to contribute positively to society and helps break the cycle of disadvantage, offering lon9-temi benefrts to both the children and their communFties Strategic report The following sections for achievements and performance and financial review form the strategic report of the charity. Achlevements and performance During the year the school continued to function to the satisfaction of the Trustees. As part of their duties, the Truslees are constantly reviewing the level of seNices provided, and are prepared to introduce any improvements that are deemed necessary. We have increased our activities and programmes to benefit the students. We have also invested in better nutrilion and more staff training.
Talmud Torah Education Limited Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continueaT) Year ended 31 March 2024 FFnancial revlew Income from after-school child care increased during the year to £2,063,808 (2023.. £2,043.289). The school operate5 on a no-fe& basis, ensuring that no child is excluded from education due to financial hardship. Our School is sustained through generous public donations and additional income generated from after-school childcare programs. Importantly, we do not turn away families who need after-school childcare but 8re unable to contribute toward it. To cover these extra costs and provid8 support to families in need, we rely on ongoing public donations, which allow us to maintain inclusivity and ensure that financial limitations of the poor do not hinder their children's access to our services. Reserves policy The trustees ensure that the charity has sufficient reseNes and pledges to cover minimum commitments over at least the next months. Fundraising actlvltles A number of fundraising events and activitres 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 repres8nts an assessment of what the charity would incur rf it were to pay a fair rent for the properties it occupies. Income has decreased to £3,201,716 during the year {2023: £3,554,026) and the charity reports a deficit for the year of £69,388 (2023. D&ficit £7,706). The trustees are confident to keep within budg8t and will continue to examine ways to increase income as well as savings in costs. Trust8es' 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 {Unit&d Kingdom Generalty Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each y8ar 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 P8riod.
Talmud Torah Education Limited Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the applicable Charrties SORP., 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- 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 transadions and disclose wrth 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= 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 infomiation and to establish that the charty's auditor is aware of that information. The trustees. annual report and the strategic report were approved on 12 November 2024 and signed on behalf of the board of trustees by- S. Cik Trustee
Talmud Torah Education Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Talmud Torah Education Limited Year ended 31 March 2024 Opinion We have audiled the financial statements of Talmud Torah Education Limited {the 'charity') for the year ended 31 March 2024 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 flnancial statements: give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its in¢ome 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 responsibiljiies for the audit of the financi81 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 St8ndard, 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 appropriat8 to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial stat8ments, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Bas8d on Ihe 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.
Talmud Torah Education Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Talmud Torah Education Lim ited {¢ontlnued) Year ended 31 March 2024 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 ststements does not cover the other information and. except to the exient 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 responsibilty 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 Otheise 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 slatem8nts or a material misstatement of the Other information. If, based on the work we have perfomied, we conclude that there is a malerial 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.. 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 the trustees, report has been prepared in accordance With applicable legal requirements. Matters on which we are required to reF)Ort 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 reporl to you if. in our opinion.. adequate accounting record5 have not been kepl, or returns adequate for our audit have not been received from branches not visited by u5,. or the financial statements are not in agreement with the a¢¢ounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the infomation and explanations we require for our audit.
Talmud Torah Education Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Talmud Torah Education Limited {conliftuedJ Year ended 31 March 2024 Responsibilltles 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 ¢on¢ern, disclosing. as applicable, matters related to going concern and using the going ¢on¢ern basis of a¢untIng unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibiliti8s for the audit of the financial ststements 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 {UKI will afvays detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, 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, oullined above, to detect material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. Identifying and lesting journal entries and the overall accounting records, particularly those that were significant and unusual. Reviewing the financial statement disclosures and detemiining whether accounting policies have been appropriately applied. Assessing the exlent 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 wtth solicitors, for discussions of irregularities including fraud.
Talmud Torah Education Limited Company Limited by Guarantee Independent Audltor's Report to the Members of Talmud Torah Education Llmlted (continugd) Year ended 31 March 2024 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 lo 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 purpos8 of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriat8ness 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 audf( evidence obtained, whether a material uncertainty 8XlSts related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concem. 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 dale of our auditor's report. However. future events or Conditions may cause the charty to Cease to continue as a going concem. Evaluate the overall presentation. structure and conlent 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.
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 2024 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 duiing 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 stste to them in an auditor's report and for no other purpose. To the fullest extent permrtted by law, we do not accept or assume responsibilty to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or forthe opinions we have formed. C. H. Goldstein FCA (Senior Ststutory Auditor) For and on behalf of Brindley Goldstein Limited Charlered accountants & statutory auditor 103 High Street Waltham Cross Herts EN8 7AN 12 November 2024
Talmud Torah Education Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Unrestricted funds Total funds Total funds 2023 Noto Income and endowments Donations and legacies Investment income Other income 2,768,635 13 433,068 2,768,635 3,142,854 433,068 411,172 Total Income 3.201,716 3,201,716 3,554,026 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activtties Total expenditure 91,465 9,10 3.179.639 3.271.104 91,465 3.179,639 97,386 3,464,346 3,271.104 3,561.732 Net expenditure and not movement in funds 169.388) (69,388) {7.7061 Reconciliation of funds Total funds brought forward Total funds carried fonvard 478,333 478,333 486,039 408,945 408,945 478,333 The staternent of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing adivities. Tho notss on pages 13 to 21 fomi part of these financial statèments. 10
Talmud Torah Education Limited Company Limited by Guarantee Statement of Flnancial Position 31 March 2024 2024 2023 Note Fixed assets Tangible red assets 16 555,988 538.382 Current assets Debtors Cash at bank and in hand 17 1,900 41,384 32,088 32,088 43,284 Creditors: amounts falling due withln one year Net Current liabilities 18 179,131 103,333 147,043 60.049 Total assets less current liabilities 408,945 478,333 Net assets 408,945 478,333 Funds of the charity Unrestricted funds 408,945 478,333 Totsl Charlty funds 20 408,945 478,333 These financial statements were approved by the board of trustees and authori5ed for issue on 12 November 2024, and are signed on behalf ofthe board by". S. Cik Trustee The notes on pages 13 to 21 form part of thèse finaneial ststements. 11
Talmud Torah Education Limited Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating activities Net expenditure (69.388) (7,706) Adjustments for Depreciation of tangible fixed ass8ts Government grant income Other interest receivable and similar income Accrued expenses 101,247 82,366 (496,018) (13) 3,000 3,900 Changes in.. Trade and other d8btors Trade and other creditors 1,900 72.798 (11,217) (428,675) Cash generated from operations 109,544 Interest received 13 Net cash froml(used inl operating activities 109,557 (428,675) Cash flov&S from investing activities Purchase of tangible assets Net cash used in investing activities (118,853) (217,744) (118.853) (217,744} Cash flow5 from financing activities Government grant income Net cash from financing activities 496,018 496,018 Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (9,296) 41,384 (150.401) 191,785 32,088 41,384 The not on pagos 13 to 21 fomi part of these flnanclal statoments. 12
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charily 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 111 Cazenove Road. London, N16 6A 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. 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 modrfied 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 lo make judgements, estimates and assumptions that affect Ihe 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 entty'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 (continued) Year ended 31 March 2024 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 un$t[1ded funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restriction5 on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restrict8d income funds or endowment funds. Incoming resources All income is recognised in th8 Statement of Financial Activiiies 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 (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 based on estimated staff time attributed to each activty. (iii) costs that are common to all activities are categorised as support costs. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is r8¢ognised as a reduction to expense over the lease lerm, on a straight-line basis. 14
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (continuerfj Year ended 31 March 2024 Accounting pollcles (¢ontinuedJ 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 impairmenl that has previously been recognised as expenditure wilhin the slatement 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 showr, 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 Fts residual value. over the useful economic lrfe of that asset as follows: Plant and machinery Fixtures and fittings Motor vehicles Computer Equipment 150/0 reducing balance 15Q/o reducing balance 25% reducing balance 33% reducing balance Impairment of fixed assets A review for indicator5 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 li is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating 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 Gash inflows from other assets or groups of assels. 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. Govemment grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. 15
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (cortlnued) Year ended 31 March 2024 Accounting policies (conlinuod) Government grants (continued) Where th8 grant do8s not impose specified future perfonnance-related conditions on the recipient, it is recognised in income when the grant proceeds are receiv8d or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in incom8 only when the performan¢e-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a Financial Instruments A financial asset or a financial liability is recognised only when the charity becomes a paty 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 amortlS8d cost. 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 recognisad at fair value, unless payment for an asset is deferred beyond nonnal business terms or financed at 8 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 al 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 811 equity instruments regardless of signrficance, 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 impairm8nt ar8 reccgnised 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. 16
Talmud Torah Education Limited Company Llmlted by Guarante8 Notes to the Financial Statements (¢onllnued) Year ended 31 March 2024 Limlted 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. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations After-school child care 704,827 2,063,808 704, 827 2,063,808 603,547 2,043,289 603,547 2,043,289 Grants Government grant income 496.018 496,018 2,768,635 2,768,635 3,142,854 3,142,854 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 13 Other income Unrestrided Total Funds Unrestrict8d Total Funds Funds 2024 Funds 2023 Other income 433,068 433,068 411,172 411,172 Costs of other trading activities Unrestri¢ted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of other trading 8Ctivities 91,465 91,465 97,386 97,386 17
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Flnancial Statements (conlinugdj Year ended 31 March 2024 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable activities Support costs 2,236.558 943,081 2,236,558 943,081 2.427,003 1,037,343 3,464,346 2,427,003 1.037,343 3,464.346 3,179,639 3.179.639 10. Expenditure on charitable activities by activity type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Charitable activities Governance costs 2,236,558 932,581 10,500 3,169,139 10,500 3,456,846 7,500 3,464,346 2,236.558 943,081 3,179.639 11. Analysis of support Costs Analysis of support costs activity Total 2024 Total 2023 Staff costs 919,046 919,046 1,029,843 12. Net expenditure Net expenditure 15 Stated after chargingl(cr8diting)'. 2024 2023 Depreciation of tangible fixed assets Operating lease renlals 101,247 82.366 1.148 13. Auditors remuneration 2024 2023 Fees payable for the audit of the financial statements 10,500 7,500 18
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (tontlnuedj Year ended 31 March 2024 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social security costs 919,046 13,535 932.581 1,029,843 13,776 1,043,619 The average head count of employees during the year was 85 {2023.' 112). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 Number of staff - Administration 85 112 No employee received employee benefrts of more than £60,000 during the year (2023.. Nil). 15. Trustee remuneration and expenses There were no trustees, remuneration or other benefrts for the year ended 31 March 2023. Th8re were no trust8es' expenses paid for the year ended 31 March 2023. 16. Tangible fixed assets Plant and Fixtures and machinery fittings Motor vehicles Equipment Tolal Cost At 1 April 2023 Additions 122,408 9,235 915.401 109.618 40,953 30,132 1,108,894 118,853 At 31 March 2024 131,643 1.025,019 40,953 30,132 1,227.747 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 95,349 5,445 421,637 90,507 34,267 1,671 19,259 3,624 570,512 101,247 100,794 512,144 35,938 22,883 671,759 Carrying amount At 31 March 2024 30,849 512,875 493,764 5,015 6,686 7,249 555,988 At 31 March 2023 27,059 10.873 538,382 17. Debtors 2024 2023 Loans 1,900 19
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontlnue(lJ Year ended 31 March 2024 18. Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Social security and other tsxes Loans Other Creditors 148,541 10,500 2,739 11,179 6,172 79.760 7.500 1,848 13.379 179,131 103,333 19. Government grants The amounts recogni5ed in the financial statements for government grants are as follows.. 2024 2023 Recognised in income from donations and legacies: Government grants income 496,018 20. Analysis of charitable funds Unrestricted funds At 31 March 20 At 1 April 2023 Income Expenditure General funds 478.333 3,201,716 (3,271,104) 408,945 At 31 March 20 23 At 1 April 2022 Income Expenditure General funds 486,039 3,554,026 (3,561,732) 478,333 20
Talmud Torah Education Limited Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2024 21. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 555,988 32,088 {179.1311 408,945 555,988 32.088 {179.131) 408,945 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 538,382 43.284 (103,333> 478.333 538,382 43,284 (103,333) 478,333 22. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 41,384 (9,296) 32,088 23. Related parties There were no related party transactions for the year ended 31 March 2023. 21