REGISTERED COMPANY NUMBER: 03269511 (England and Wales) REGISTERED CHARITY NUMBER: 1061689
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024
FOR
KESHER LTD
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
KESHER LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
KESHER LTD (REGISTERED NUMBER: 03269511)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST OCTOBER 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st October 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity's object and its principal activities are:
The promotion of the Jewish religion and the advancement of education in the Jewish religion, in Greater London and the provinces.
The Charity is organised so that the Directors and Trustees meet regularly to manage its affairs.There are two part-time administrators, who manage the day to day administration of the charity.We are grateful to the many volunteers who assist the Charity in numerous ways.
Public benefit
The trustees have carefully considered the public benefit requirements and their duty to ensure that they are compliant with them. They feel that the activities as detailed below, more than adequately, satisfy the public benefit requirement.
The trustees continue to operate within the confines of the charity objectives namely in the respect of the advancement of Orthodox Jewish education by providing educational outreach programmes as well as worship facilities which are open to all members of the Jewish Faith.
ACHIEVEMENT AND PERFORMANCE
The trustees are satisfied with the performance of the Charity during the past year.
Despite the reduced level of donations we have maintained the level of participation in our educational programming and the resources allocated thereto.
In view of the wider economic climate, the Trustees are satisfied with the position of the Charity and its continued ability to impact favourably on the lives of its many beneficiaries.
It is worth noting that expanded use of internet technology has extended our 'reach' as well, at modest cost.
FINANCIAL REVIEW
Financial position
The Statement of Financial Activities shows a Deficit of £45,160 for the year (2023: Deficit of £23,289). As at the year end, our reserves stand at a surplus of £777,094 ( 2023: £822,254).
Reserves Policy
The Trustees have been concentrating on building up the reserves of the charity to a level that will ensure that operation of the charity is not affected by any significant downturns in donation levels caused by the vagaries of the economy. They feel that a cash reserve level equivalent to two years operational expenses would allow them to achieve the required safety margin.
FUTURE PLANS
Having operated from their current premises for 20 years, the Charity has plans to renovate and expand. Working with an architect and specialist planning consultant, a formal planning application is in preparation. Once completed, the Charity's ability to serve its constituents will be greatly enhanced. The trustees feel that fiscal responsibility dictates that this project can only be realistically contemplated from a position of financial stability.
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KESHER LTD (REGISTERED NUMBER: 03269511)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST OCTOBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The trust is constituted under the Memorandum and Articles of Association and incorporated on 25th October 1996.The trustees are appointed by the Board of Trustees who would normally appoint new trustees to fill vacancies arising through resignation or death of an existing Trustee. At the trustees' meeting, which is held every quarter, the trustees agree the broad strategy and areas of activity for the Trust, including consideration of reserves, risk management policies and performance.
Organisational structure
All directors of the company are also trustees of the charity , and there are no other trustees. All of the trustees named on page 1 served throughout the year unless otherwise stated.
The Board has the power to appoint additional trustees as it considers fit to do so.
Risk management
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions.
The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03269511 (England and Wales)
Registered Charity number
1061689
Registered office
923 Finchley Road Golders Green London NW11 7PE
Trustees
S Greenman Dr M Sinclair M Wulwick
Company Secretary
Mr. R Simon
Independent Examiner
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
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KESHER LTD (REGISTERED NUMBER: 03269511)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST OCTOBER 2024
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 21st July 2025 and signed on its behalf by:
M Wulwick - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KESHER LTD
Independent examiner's report to the trustees of Kesher Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st October 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Akiva Kahan FCA
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE Date: July 2025
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KESHER LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Charitable activities 4 Educational, outreach and cultural activities Governance costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 186,247 - 186,247 226,877 4,530 231,407 (45,160) 822,254 777,094 |
Restricted fund £ - - - - - - - - - |
2024 Total funds £ 186,247 - 186,247 226,877 4,530 231,407 (45,160) 822,254 777,094 |
2023 Total funds £ 160,823 2,981 163,804 184,443 2,650 187,093 (23,289) 845,543 822,254 |
|---|---|---|---|---|
The notes form part of these financial statements
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KESHER LTD (REGISTERED NUMBER: 03269511)
STATEMENT OF FINANCIAL POSITION 31ST OCTOBER 2024
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds: General fund TOTAL FUNDS |
Unrestricted fund £ 364,607 16,349 398,447 414,796 (2,309) 412,487 777,094 777,094 |
Restricted fund £ - - - - - - - - |
2024 Total funds £ 364,607 16,349 398,447 414,796 (2,309) 412,487 777,094 777,094 777,094 777,094 |
2023 Total funds £ 374,282 17,291 435,139 452,430 (4,458) 447,972 822,254 822,254 822,254 822,254 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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KESHER LTD (REGISTERED NUMBER: 03269511)
STATEMENT OF FINANCIAL POSITION - continued 31ST OCTOBER 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 21st July 2025 and were signed on its behalf by:
M Wulwick - Trustee
The notes form part of these financial statements
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KESHER LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Torah scrolls - not provided Fixtures, Fittings and Equipment - 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Financial instruments
The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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KESHER LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST OCTOBER 2024
1. ACCOUNTING POLICIES - continued
Financial instruments
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
2. DONATIONS AND LEGACIES
| Donations Gift aid Grants Grants received, included in the above, are as follows: Government Grants |
2024 £ 163,081 17,719 5,447 186,247 2024 £ 5,447 |
2023 £ 140,525 15,656 4,642 |
|---|---|---|
| 160,823 | ||
| 2023 £ 4,642 |
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KESHER LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST OCTOBER 2024
3. INVESTMENT INCOME
| Deposit account interest CHARITABLE ACTIVITIES COSTS Educational, outreach and cultural activities Governance costs NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Direct Costs £ 210,406 - 210,406 |
2024 £ - Support costs £ 16,471 4,530 21,001 2024 £ 11,220 |
2023 £ 2,981 Totals £ 226,877 4,530 |
|---|---|---|---|
| 231,407 | |||
| 2023 £ 11,278 |
4. CHARITABLE ACTIVITIES COSTS
5. NET INCOME/(EXPENDITURE)
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st October 2024 nor for the year ended 31st October 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st October 2024 nor for the year ended 31st October 2023.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| Members of staff | 1 | 2 |
No employees received emoluments in excess of £60,000.
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KESHER LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST OCTOBER 2024
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 160,823 Investment income 2,981 Total 163,804 EXPENDITURE ON Charitable activities Educational, outreach and cultural activities 184,443 Governance costs 2,650 Total 187,093 NET INCOME/(EXPENDITURE) (23,289) RECONCILIATION OF FUNDS Total funds brought forward 845,543 TOTAL FUNDS CARRIED FORWARD 822,254 9. TANGIBLE FIXED ASSETS Freehold Torah property scrolls £ £ COST At 1st November 2023 536,006 15,100 Additions - - At 31st October 2024 536,006 15,100 DEPRECIATION At 1st November 2023 178,500 - Charge for year 10,720 - At 31st October 2024 189,220 - NET BOOK VALUE At 31st October 2024 346,786 15,100 At 31st October 2023 357,506 15,100 |
Restricted fund £ - - - - - - - - - Fixtures, Fittings and Equipment £ 35,666 1,545 37,211 33,990 500 34,490 2,721 1,676 |
Total funds £ 160,823 2,981 163,804 184,443 2,650 187,093 (23,289) 845,543 822,254 Totals £ 586,772 1,545 588,317 212,490 11,220 223,710 364,607 374,282 |
|---|---|---|
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KESHER LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST OCTOBER 2024
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors No description Accruals and deferred income 12. MOVEMENT IN FUNDS At 1/11/23 £ Unrestricted funds General fund 822,254 TOTAL FUNDS 822,254 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 186,247 TOTAL FUNDS 186,247 Comparatives for movement in funds At 1/11/22 £ Unrestricted funds General fund 845,543 TOTAL FUNDS 845,543 |
2024 2023 £ £ 16,349 17,291 2024 2023 £ £ (57) 3 - 1,805 (285) - 2,651 2,650 2,309 4,458 Net movement At in funds 31/10/24 £ £ (45,160) 777,094 (45,160) 777,094 Resources Movement expended in funds £ £ (231,407) (45,160) (231,407) (45,160) Net movement At in funds 31/10/23 £ £ (23,289) 822,254 (23,289) 822,254 |
|---|---|
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KESHER LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST OCTOBER 2024
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 163,804 163,804 |
Resources Movement expended in funds £ £ (187,093) (23,289) (187,093) (23,289) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/11/22 £ 845,543 845,543 |
Net movement in funds £ (68,449) (68,449) |
At 31/10/24 £ 777,094 |
|---|---|---|---|
| 777,094 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 350,051 350,051 |
Resources Movement expended in funds £ £ (418,500) (68,449) (418,500) (68,449) |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st October 2024.
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