**Charity registration number 1069747**
**Company registration number 03448028 (England and Wales)**
## **FRIENDS OF OHR-TORAH LIMITED**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023**
## **FRIENDS OF OHR-TORAH LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr Y Ahimon|
|---|---|
||Mr Z Keningbuch|
|**Secretary**|Mr Steven Bernstein|
|**Charity number**|1069747|
|**Company number**|03448028|
|**Registered office**|Gable House|
||239 Regents Park Road|
||London|
||N3 3LF|
|**Accountants**|SPW (UK) LLP|
||Gable House|
||239 Regents Park Road|
||London|
||N3 3LF|
## **FRIENDS OF OHR-TORAH LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Accountants' report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 11|
## **FRIENDS OF OHR-TORAH LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
The trustees present their annual report and financial statements for the year ended 31 October 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the duty in section 4 of the 2006 Charities Act. The trustees report is prepared in accordance with the small company regime Section 419(2) of the Companies Act 2006.
## **Objectives and activities**
The charity's objectives are the raising of money for religioius schools and there has been no change in these accounts during the year.
The aims of the charity is to conintue obtaining donations for various religious schools.
The objectives for the year is to keep the donations at the level as previous years.
## _Strategies for achieving aims and objectives_
The main strategy is to continue to promote the charity objectives and obtain the continued donations received.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## _Activities_
During the year, the charity received donations of £28,314 (2019: 35,104 ) and paid grants of £27,200 (2019: £23,000).
## **Achievements and performance**
## _Significant activities and achievements against objectives_ **Financial review**
## _Reserves policy_
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## _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 company limited by guarantee.
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:
Mr Y Ahimon
Mr Z Keningbuch
## _Recruitment and appointment of trustees_
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
- 1 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the company's contractual and other legal obligations.
The trustees' report was approved by the Board of Trustees.
Mr Y Ahimon **Trustee**
10 July 2024
- 2 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FRIENDS OF OHRTORAH LIMITED FOR THE YEAR ENDED 31 OCTOBER 2023**
As described on the balance sheet you are responsible for the preparation of the accounts for the year ended 31 October 2023, set out on pages 8 to 11, and you consider that the company is exempt from an audit and a report under section 249A(2) of the Companies Act 1985. In accordance with your instructions, we have compiled these unaudited accounts in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 24 July 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Friends of Ohr-Torah Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Friends of Ohr-Torah Limited and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that Friends of Ohr-Torah Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Friends of Ohr-Torah Limited. You consider that Friends of Ohr-Torah Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Friends of Ohr-Torah Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
## **SPW (UK) LLP**
10 July 2024
## **Chartered Accountants**
Gable House 239 Regents Park Road London N3 3LF
- 3 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
|**Unrestricted**
**funds**
**2023**
**Notes**
**£**
**Income from:**
Donations and legacies
**3**
52,502
Investments
**4**
15
**Total income**
52,517
**Expenditure on:**
Charitable activities
**5**
72,841
**Net (expenditure)/income for the year/**
**Net movement in funds**
(20,324)
Fund balances at 1 November 2022
25,737
**Fund balances at 31 October 2023**
5,413|**Total**
**2022**
**£**
16,786
2|
|---|---|
||16,788|
||1,271|
||15,517
10,220|
||25,737|
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension liability**
**The funds of the charity**
Unrestricted funds|**2023**
**£**
6,411
(1,000)|**£**
2
5,411
5,413
5,413
5,413
5,413|**2022**
**£**
26,732
(1,000)|**£**
5
25,732|
|---|---|---|---|---|
|||||25,737|
|||||25,737|
|||||25,737|
|||||25,737|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2023.
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 10 July 2024
Mr Y Ahimon **Trustee**
Company registration number 03448028 (England and Wales)
- 5 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
## **Charity information**
Friends of Ohr-Torah Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Gable House, 239 Regents Park Road, London, N3 3LF.
## **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 Incoming resources**
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.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Resources expended**
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.
## **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:
Plant and machinery 20% reducing balance
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.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
- 7 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|||**Unrestricted**|**Total**|**Total**|
|---|---|---|---|---|
|||**funds**|||
|||**2023**|**2022**||
|||**£**|**£**||
||Donations and gifts|52,502|16,786||
|**4**|**Investments**||||
|||**Unrestricted**|**Total**||
|||**funds**|||
|||**2023**|**2022**||
|||**£**|**£**||
||Interest receivable|15|2||
|**5**|**Charitable activities**||||
|||**Grants to**|**Grants to**||
|||**Institutions**|**Institutions**||
|||**2023**|**2022**||
|||**£**|**£**||
||Grant funding of activities (see note 6)|70,750|-||
||Share of support costs|2,091|1,271||
|||72,841|1,271||
- 8 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **6 Grants Payable**
|Grants to institutions:
Other
**7**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets|**2023**
**£**
70,750
**2023**
**£**
3|**2022**
**£**
-|
|---|---|---|
|||**2022**
**£**
3|
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year.
## **9 Employees**
The average monthly number of employees during the year was:
|||**2023**|**2022**|
|---|---|---|---|
|||**Number**|**Number**|
||Total|-|-|
|**10**|**Employees**|||
||The average monthly number of employees during the year was:|||
|||**2023**|**2022**|
|||**Number**|**Number**|
||Total|2|2|
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 9 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **12 Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
||**Plant and**|
||**machinery**|
||**£**|
|**Cost**||
|At 1 November 2022|31|
|At 31 October 2023|31|
|**Depreciation and impairment**||
|At 1 November 2022|26|
|Depreciation charged in the year|3|
|At 31 October 2023|29|
|**Carrying amount**||
|At 31 October 2023|2|
|At 31 October 2022|5|
## **13 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|Accruals and deferred income|1,000|1,000|
## **14 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 1**|**Incoming**|**Resources**|
**At 31 October**|
**At 31 October**|
|---|---|---|---|---|---|
||**November**|**resources**|**expended**||**2023**|
||**2022**|||||
||**£**|**£**|**£**||**£**|
|General funds|25,737|52,517|(72,841)||5,413|
|**Previous year:**|**At 1**|**Incoming**|**Resources**|
**At 31 October**||
||**November**|**resources**|**expended**||**2022**|
||**2021**|||||
||**£**|**£**|**£**||**£**|
|General funds|10,220|16,788|(1,271)||25,737|
- 10 -
## **FRIENDS OF OHR-TORAH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **15 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 11 -