Charity registration number 1061423
Company registration number 03238175 (England and Wales)
OHEL DAVID (L.I)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2024
OHEL DAVID (L.I)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Emil Baruch Meyer David Lanyado Ghassan Cohen Charity number 1061423 Company number 03238175 Principal address 27 Church Mount London N2 0RW Independent examiner Pasha & Co. 220 The Vale London NW11 8SR Bankers Lloyds TSB Bank Plc 8 Golders Green Road London NW11 8LJ Allied Irish Bank 100 Grays Inn Road London WC1X 8AL
OHEL DAVID (L.I)
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
OHEL DAVID (L.I)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 DECEMBER 2024
The Trustees present their annual report and financial statements for the year ended 30 December 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the rticles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
The objects of the charity are to advance the Jewish Religion by providing support and accommodation to a synagogue with the held of a freehold property in Northwest London. The property includes premises occupied by the Synagogue as well as other premises subject to commercial leases.
In setting the objectives and planning the activity of the charity, the Trustees have given careful considration to the Charity Commission's general guidance on public benefit.
Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
The Trust has obtained its funding through donations and investment. These are all unrestricted funds. The Trust will only grant funds that it has received in donations. A proportion of all donations are diverted into investments annually and the balance of the general fund, which include rent from investments, is distributed annually.
Financial review
In the period under review, the Trust made a deficit £76,258 (2023: surplus £35,488).
Reserves policy
There is no fixed policy on reserves and investments has been documented but it has been the practise to review the funds available from time to time and to invest funds not required for grant aid.
The majority of the charity's funds are derived from donations by private individuals.
Major risks
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a registered charity and is constituted as a company limited by guarantee and having no share capital. Its objects and powers and other constitutional matters are set out in its Memorandum and Articles of Association.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Emil Baruch Meyer David Lanyado Ghassan Cohen Moshe Moses (Deceased 25 April 2025)
Recruitment and appointment of trustees
New Trustees are appointed by current Trustees and this would involve a careful vetting process to ensure the new trustee is aware of his/her responsibilities towards the charity.
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OHEL DAVID (L.I)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 DECEMBER 2024
The trustees' report was approved by the Board of Trustees.
Ghassan Cohen
Director
17 June 2025
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OHEL DAVID (L.I)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OHEL DAVID (L.I)
I report to the Trustees on my examination of the financial statements of OHEL DAVID (L.I) (the charity) for the year ended 30 December 2024.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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
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4 the financial statements 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 financial statements to be reached.
Syed Taufiq Pasha, FCCA
Pasha & Co.
220 The Vale London NW11 8SR
Dated: 17 June 2025
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OHEL DAVID (L.I)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Investments | 2 | 25,892 | 37,288 |
| Total income | 25,892 | 37,288 | |
| Expenditure on: | |||
| Charitable activities | 3 | 102,150 | 1,800 |
| Total expenditure | 102,150 | 1,800 | |
| Net income/(expenditure) and movement in funds | (76,258) | 35,488 | |
| Reconciliation of funds: | |||
| Fund balances at 31 December 2023 | 606,647 | 571,159 | |
| Fund balances at 30 December 2024 | 530,389 | 606,647 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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OHEL DAVID (L.I)
BALANCE SHEET
AS AT 30 DECEMBER 2024
| Notes Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds 11 |
2024 £ 129,955 7,417 137,372 (1,800) |
£ 394,817 135,572 530,389 530,389 530,389 |
2023 £ 184,872 30,558 215,430 (3,600) |
£ 394,817 211,830 |
|---|---|---|---|---|
| 606,647 | ||||
| 606,647 | ||||
| 606,647 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 December 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 17 June 2025
Ghassan Cohen
Director
Company registration number 03238175 (England and Wales)
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OHEL DAVID (L.I)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2024
1 Accounting policies
Charity information
OHEL DAVID (L.I) is a company limited by guarantee no. 03238175 registered in England and Wales.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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OHEL DAVID (L.I)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 DECEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Management and administrative expenditure consist of costs associated with the running of the charity and are accounted for on an accruals basis.
Direct charitable expenditure consists of
a) Grants and Donations made in furtherance of the charity's objects, which are accounted for when paid.
b) Property expenses associated with the provisin of accomodation to a synagogue, which are accounted for on an accruals basis.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings NIL
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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OHEL DAVID (L.I)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 DECEMBER 2024
2 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Rental income | 25,892 | 37,288 | |
| 3 | Expenditure on charitable activities | ||
| Heading | Heading | ||
| #ac982 | #ac982 | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Enter ac906 in database | 350 | - | |
| Accountancy | 1,800 | 1,800 | |
| 2,150 | 1,800 | ||
| Grant funding of activities (see note ) | 100,000 | - | |
| 102,150 | 1,800 | ||
| Analysis by fund | |||
| Unrestricted funds | 102,150 | 1,800 | |
| 4 | Net movement in funds | 2024 | 2023 |
| £ | £ |
The net movement in funds is stated after charging/(crediting):
5 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
6 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
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OHEL DAVID (L.I)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 DECEMBER 2024
6 Employees
(Continued)
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
7 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
8 Tangible fixed assets
| Cost At 31 December 2023 At 30 December 2024 Carrying amount At 30 December 2024 At 30 December 2023 It is a Charity's policy not to revalue the property. 9 Debtors Amounts falling due within one year: Other debtors 10 Creditors: amounts falling due within one year Accruals and deferred income |
Land and buildings £ 394,817 394,817 394,817 394,817 2023 £ 184,872 2023 £ 3,600 |
|
|---|---|---|
| 2024 £ 129,955 2024 £ 1,800 |
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 31 | Incoming | Resources | At 30 | |
|---|---|---|---|---|
| December | resources | expended | December | |
| 2023 | 2024 | |||
| £ | £ | £ | £ | |
| General funds | 606,647 | 25,892 | (102,150) | 530,389 |
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OHEL DAVID (L.I)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 DECEMBER 2024
| 11 | Unrestricted funds | (Continued) | |||
|---|---|---|---|---|---|
| Previous year: | At 31 | Incoming | Resources | At 30 | |
| December | resources | expended | December | ||
| 2022 | 2023 | ||||
| £ | £ | £ | £ | ||
| General funds | 571,159 | 37,288 | (1,800) | 606,647 |
12 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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