REGISTERED CHARITY NUMBER: 1064650
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 June 2025
for
Talmud Torah Tiferes Shlome Trust
London Accounting Group Ltd 5 North End Road London NW11 7RJ
Talmud Torah Tiferes Shlome Trust
Contents of the Financial Statements for the Year Ended 30 June 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
Talmud Torah Tiferes Shlome Trust
Report of the Trustees for the Year Ended 30 June 2025
The trustees present their report with the financial statements of the charity for the year ended 30 June 2025. 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
Charity's object and principal activity continues to be that of a primary school.
Public benefit
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
ACHIEVEMENTS AND PERFORMANCE
Internal and external factors
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
FINANCIAL REVIEW
Principal funding sources
The present level of funding is adequate to support the continuation of our activities and the governors consider the financial position of the charity to be satisfactory.
Reserves policy
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The charity is organised, so that the trustees meet regularly to manage its affairs.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1064650
Principal address
Danescroft Avenue London NW4 2NB
Trustees
J Bamberger S A Ostreicher M L Ost (resigned 9.7.24)
Independent Examiner
London Accounting Group Ltd 5 North End Road London NW11 7RJ
Page 1
Talmud Torah Tiferes Shlome Trust
Report of the Trustees for the Year Ended 30 June 2025
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ S A Ostreicher - Trustee
Page 2
Independent Examiner's Report to the Trustees of Talmud Torah Tiferes Shlome Trust
Independent examiner's report to the trustees of Talmud Torah Tiferes Shlome Trust
I report to the charity trustees on my examination of the accounts of Talmud Torah Tiferes Shlome Trust (the Trust) for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Mr Samuel Feigenblatt FCCA
London Accounting Group Ltd 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Talmud Torah Tiferes Shlome Trust
Statement of Financial Activities for the Year Ended 30 June 2025
| 30.6.25 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 805,717 EXPENDITURE ON Charitable activities 3 Direct Charitable Expenditure 806,502 Other 12,666 Total 819,168 NET INCOME/(EXPENDITURE) (13,451) RECONCILIATION OF FUNDS Total funds brought forward 473,677 TOTAL FUNDS CARRIED FORWARD 460,226 |
30.6.24 Total funds £ 884,497 |
|---|---|
| 867,209 8,656 |
|
| 875,865 | |
| 8,632 465,045 |
|
| 473,677 |
The notes form part of these financial statements
Page 4
Talmud Torah Tiferes Shlome Trust
Balance Sheet 30 June 2025
| 30.6.25 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 478,833 CURRENT ASSETS Cash at bank 284 CREDITORS Amounts falling due within one year 9 (18,891) NET CURRENT ASSETS (18,607) TOTAL ASSETS LESS CURRENT LIABILITIES 460,226 NET ASSETS 460,226 FUNDS 10 Unrestricted funds 460,226 TOTAL FUNDS 460,226 |
30.6.24 Total funds £ 484,833 13,672 (24,828) (11,156) 473,677 473,677 473,677 473,677 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S A Ostreicher - Trustee
The notes form part of these financial statements
Page 5
Talmud Torah Tiferes Shlome Trust
Cash Flow Statement for the Year Ended 30 June 2025
| 30.6.25 | 30.6.24 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | (13,388) | 39,460 |
| Net cash (used in)/provided by operating activities | (13,388) | 39,460 | |
| Cash flows from investing activities | |||
| Purchase of tangible fixed assets | - | (30,000) | |
| Net cash provided by/(used in) investing activities | - | (30,000) | |
| Change in cash and cash equivalents in | |||
| the reporting period | (13,388) | 9,460 | |
| Cash and cash equivalents at the | |||
| beginning of the reporting period | 13,672 | 4,212 | |
| Cash and cash equivalents at the end of | |||
| the reporting period | 284 | 13,672 |
The notes form part of these financial statements
Page 6
Talmud Torah Tiferes Shlome Trust
Notes to the Cash Flow Statement for the Year Ended 30 June 2025
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| OPERATING ACTIVITIES | ||
|---|---|---|
| 30.6.25 | 30.6.24 | |
| £ | £ | |
| Net (expenditure)/income for the reporting period (as per the | ||
| Statement of Financial Activities) | (13,451) | 8,632 |
| Adjustments for: | ||
| Depreciation charges | 6,000 | 6,000 |
| (Decrease)/increase in creditors | (5,937) | 24,828 |
| Net cash (used in)/provided by operations | (13,388) | 39,460 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1/7/24 Cash flow At £ £ Net cash Cash at bank 13,672 (13,388) 13,672 (13,388) Total 13,672 (13,388) |
30/6/25 £ 284 |
|---|---|
| 284 | |
| 284 |
The notes form part of these financial statements
Page 7
Talmud Torah Tiferes Shlome Trust
Notes to the Financial Statements for the Year Ended 30 June 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from 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.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 30.6.25 | 30.6.24 | |
| £ | £ | |
| Donations received | 805,717 | 884,497 |
continued...
Page 8
Talmud Torah Tiferes Shlome Trust
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
3. CHARITABLE ACTIVITIES COSTS
| Direct Charitable Expenditure 4. GRANTS PAYABLE Direct Charitable Expenditure 5. SUPPORT COSTS Other resources expended Direct Charitable Expenditure |
Grant funding of activities Support Direct (see note costs (see Costs 4) note 5) £ £ £ 665,478 85,297 55,727 30.6.25 £ 85,297 Governance Management costs £ £ 11,706 960 55,727 - 67,433 960 |
Totals £ 806,502 |
Totals £ 806,502 |
|---|---|---|---|
| 30.6.24 £ 86,746 Totals £ 12,666 55,727 68,393 |
|||
| Totals £ 12,666 55,727 |
|||
| 68,393 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 884,497 |
| EXPENDITURE ON | |
| Charitable activities | |
| Direct Charitable Expenditure | 867,209 |
| Other | 8,656 |
| Total | 875,865 |
| NET INCOME | 8,632 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 465,045 |
continued...
Page 9
Talmud Torah Tiferes Shlome Trust
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS Classroom Plant and Motor building machinery vehicles £ £ £ COST At 1 July 2024 and 30 June 2025 417,782 41,798 30,000 DEPRECIATION At 1 July 2024 - - 6,000 Charge for year - - 6,000 At 30 June 2025 - - 12,000 NET BOOK VALUE At 30 June 2025 417,782 41,798 18,000 At 30 June 2024 417,782 41,798 24,000 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1/7/24 £ Unrestricted funds General fund 473,677 TOTAL FUNDS 473,677 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 805,717 TOTAL FUNDS 805,717 |
Unrestricted fund £ 473,677 Computer equipment Totals £ £ 1,253 490,833 - 6,000 - 6,000 - 12,000 1,253 478,833 1,253 484,833 30.6.25 30.6.24 £ £ 18,891 24,828 Net movement At in funds 30/6/25 £ £ (13,451) 460,226 (13,451) 460,226 Resources Movement expended in funds £ £ (819,168) (13,451) (819,168) (13,451) |
|---|---|
continued...
Page 10
Talmud Torah Tiferes Shlome Trust
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/7/23 £ Unrestricted funds General fund 465,045 TOTAL FUNDS 465,045 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 884,497 TOTAL FUNDS 884,497 |
Net movement At in funds 30/6/24 £ £ 8,632 473,677 8,632 473,677 Resources Movement expended in funds £ £ (875,865) 8,632 (875,865) 8,632 |
At 30/6/24 £ 473,677 |
|---|---|---|
| 473,677 | ||
| 8,632 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/7/23 £ 465,045 465,045 |
Net movement in funds £ (4,819) (4,819) |
At 30/6/25 £ 460,226 |
|---|---|---|---|
| 460,226 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,690,214 | (1,695,033 ) | (4,819) |
| TOTAL FUNDS | 1,690,214 | (1,695,033 ) | (4,819) |
continued...
Page 11
Talmud Torah Tiferes Shlome Trust
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2025.
Page 12
Talmud Torah Tiferes Shlome Trust
Detailed Statement of Financial Activities for the Year Ended 30 June 2025
| Detailed Statement of Financial Activities for the Year Ended 30 June 2025 |
||
|---|---|---|
| 30.6.25 | 30.6.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations received | 805,717 | 884,497 |
| Total incoming resources | 805,717 | 884,497 |
| EXPENDITURE | ||
| Charitable activities | ||
| Rates and water | 21,557 | 6,631 |
| Insurance | 3,823 | 8,060 |
| Light and heat | 20,197 | 15,174 |
| Charitable events | 9,805 | 7,509 |
| Expenditure on the school | 610,096 | 668,163 |
| Grants to institutions | 85,297 | 86,746 |
| 750,775 | 792,283 | |
| Support costs | ||
| Management | ||
| Telephone | 700 | 1,024 |
| Repairs and maintenance | 55,027 | 68,067 |
| Legal and professional fees | 5,550 | 5,835 |
| Bank charges | 156 | 976 |
| Depreciation | 6,000 | 6,000 |
| 67,433 | 81,902 | |
| Governance costs | ||
| Accountancy fees | 960 | 1,680 |
| Total resources expended | 819,168 | 875,865 |
| Net (expenditure)/income | (13,451) | 8,632 |
This page does not form part of the statutory financial statements
Page 13