CHARITY REGISTRATION NUMBER: 1070421 Torah Centre Tshebin A550ciation Unaudited Fillancial Statements For tbe year ended 31 December 2023 COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road London NWI I OPU Torah Centre Tshebin Association FiDancial Statements Year ended 31 December 2023 Pages Trustees, annual report Ito2 Independent examinefs r¢port to the trustees Statement of financial activities Statement of financial position Notes to the financial stat¢ments 6t09 Torah CeDtre Tshebin Association Trnstees, Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statsments of the charity for the year ended 31 December 2023. Reference and administrative detalls Registered charity name Charity registration number Principal otTiee Torah Centre Tshebin Association 1070421 3 The Approach London NW42HU The trustees Rabbi D Halpern Rabbi N Schneersohn Independent examiner Cohen Arnold New Burlington House 1075 Fin¢hley Road London NWI I OPU Structurey governance and management The Charity is govemed by a Declp4ration of Trust dated 17th February 1998. The Trustees administer the day-to-day affairs of the Charity. None of the Trustees have any beneficial interest in the Charity. It is not Currently th¢ intention of the Trustees of the Charity to appoint new Trustees. Should the situation change in the future, the Trustees will apply suitable recruitment training and induction procedures. Objectives and activities The charity is established for charitable purposes only and (without Prejudice to the generality of the foregoing words) in particular to do, perform and Carry out all or any of the following acts and things? namely:" The advancement of the orthodox Jewish religion The advancement of Jewish religious education The relief of poverty The Charity is established to further both in the United Kingdom and abroad those purposes recognised charitable by English Law in general and in particular the support of the Talmudical College of Tshebin in Israel. To achieve these objects, the Charity Utilises its income to make grants and donations. The income of the charity is derived from donations from individuals and charitable institutions. The trustees confinn that they have referred to the guidance contained in the Charity Commission's general guidance on publir benefit when reviewing the Charity's aiTns and objectives and in planniT]g future activitie5. Torah Centre Tshebin A￿Ociation TThylees' Annual Report (coRiINtsed) Year ended 31 December 2023 Achievements and performance During the year the Charity continued to pursue its philanthropic objects which is in accordance with the guidance of the Charity Commission relating to Public Benefit. A total of £63,000 (2022.. £55,000) was distributed in furtherance of the charity's objectives. Financial review Income from donations aggregated £158,279 (2022: £60,027). Total resources expended wer¢ £64,952 (2022: £56,564) resulting in a net sury)lus of £93,327 (2022: £3,463). As at 31 December 2023 the Charity had a surplus £102,733 (2022: £6,406) in Unrestricted Funds. The financial results of the Charity's activities for the year to 31 December 2023 are fully reflected in the attached Financial Statements together with the Not¢s thereon. Grant maklng policy Grants are made to charitable institutions and organisations which conforni to the objects of the charity after the trustee5 have satisfied themselves as to the bona fides of the recipients. Grants are considered for both capital projects and revenue ￿nding. Reserves policy It is the policy of the charity to attempt maintsin unrestricted ￿nds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year. The trus*es' annual report was approved on 6 August 2024 and signed on behalf of the board of trustees by: Rabbi D Halpern Trustee Torah Centre Tshebin Association Independent Examiner's Report to the Trustees of Torah Centre Tshebin AssociatAon Year ended 31 December 2023 report to the trustees on my examination of the financial statements of Torah Centre Tshebin Association {'the charity,) for the year ended 31 Dec¢mb¢r 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in canying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5Xb) of the Act. Independent examiner's statement- matter of concern identified In fomiing our opinion of the financial statements, which is not modified, we would draw attention to the material uncertainty as reported in page one of the Trustees, Annual Report.. Event5 after the end of the reporting period. I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: (l ) accounting records were not kept in respect of the charity as required by section 130 of the Act; or (2) the financial ststements do not accord with those records; or (3) the financial statements 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 lo which attention should be drawn in this report in order to enable a proper understanding of th¢ accounts to be reached. . kn.&1 Mr Moshe Broner-cohen FCA Date Independent Examiner New Burlington House 1075 Finchley Road London NWI I OPU Torah Centre Tshebin Association Statsment of Financial Activities Year ended 31 December 2023 2023 Unrestricted funds Total funds Total funds 2022 Note Income and endowments Donations and legacies Total Income 158,279 158,279 158,279 158,279 60,027 60,027 Expenditure Expenditure on charitable activilies Totsl expendlture S6 (64,952) (64.952) (64,952) (64.952) (56.564) (56,564) Net income and Aet movement In funds 93,327 93J27 3,463 Reeoneiliation of funds Total funds brought forward Total funds carrled forward 9,406 102,733 9,406 102,733 5,943 9,406 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from Continuing activities. The notes on pwg¢5 6 to 9 form part rfl1￿5¢ fin4nei*l statements. Tornb Centre Tshebin Association StAtsment of Financial Position 31 December 2023 2023 2022 Note Current assets Cash at bank and in hand 104233 10,726 Creditors: amounts falling due within one year Net current assets (I,soo) (1,320) 102.733 I02,733 102,733 9,406 9,406 9,406 Total a￿ets less current liabilitie$ Nel assets Funds of the chArlty Unrestricted funds 102,733 102,733 9,406 9.406 Total charlty funds 12 These financial statements were approved by the board of trustees and authorised for issue on 6 August 2024, and are signed on behalf of the board by: Rabbi D Halpern Trustee The notes on pages 6 10 9 form part of these fiThAncial ststements. Torah Centre Tsbebin Association Notes to tbe Financial Statements Year ended 31 December 2023 General information The charity is a public benefit enlity and a registered charity in England and Wales and is unincorporated. The address of the principal otTice is 3 The Approach, LondoN NW4 2HU. Statement of complianee These financial statements have been prepared in complian¢e 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 Charities Act 2011. Accounting pollcles Basts of preparation The financial statements have been prepared on the historical cost basis, as fflodified by the revaluation of certain financial &ssets and liabilities and investment properties measured at fair value tlrough 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 abilTty to continue. Judgements and key sources of estimatlon uncertsinty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the 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 re&sonable under the circumstances. There are no material uncertainties, judgements. estimates and assumptions that affected the amounts reported in the year. Fund geeountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Incoming resources All incotne is included in the statement of financial activities when entitlement h&s passed to the ¢harity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: Torab Centre Tshebin Association Notes to the Financial Statsments (conlinued) Year ended 31 December 2023 Accounting policies {conllKued) Incoming r¢sourees (coR¢147¥ed) income from donations or grants 15 Tecognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statsment of financial activities to which it relates: expenditure on raising fijnds includes the costs of all fiJndrai5ing activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to th¢ governance of the charity apportioned to charitable a¢tivities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable. justifiable and consistent basis. Financivdl instruments A financial asset or a financial liability is recognised only when the ¢ntity becomes a party to the contractual provisions of the instrument. B&8ic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arnngement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrurnent. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Donations 158,279 158,279 60,027 60,027 Torah CeDtre Tshebin Association Notes to tbe Financial Statements {conrfnued) Year ended 31 December 2023 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations paid Support costs 63,(M)O 1.952 64,952 63,000 1,952 64,952 55,000 1.564 56,564 55,000 1,564 56,564 Expendlture on Charitable aetivities by a¢tivlty type Grant ￿ndIng of activities Support ¢osts Total funds 2023 Total fund 2022 Donations paid Governance costs 63,000 63,000 1,952 64,952 55,000 1,564 56,564 1,952 1,952 63,000 Analysis of support costs Support costs Total 2023 Total 2022 General office Governance costs 272 ,680 1,952 272 1,680 244 1,320 1,564 1,952 Analysis of grants 2023 2022 Grants to Instltutions Torath Geonei Galizia Belt Meir Keilah Toranit 60,000 3,000 63,000 63,000 50,000 5,000 55,000 55.000 Total grants Independent examination fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial statements 1,680 1,320 Torah Centre Tshebin AssociatlOD Notss to the Finaneial Statements (conlivued) Year ended 31 December 2023 10. Trustee remuneration and expenses No salaries or wages have been paid to employees. including the Trust¢es, during the year. The charity did not meet any individual expenses incurred by the Governors (Trustees) for services provided to the Charity. 11. Creditors: amounts falling due within one year 2023 2022 Accruals and defe￿ed income 1,500 1,320 12. Analysiy of tharitable funds Unrestricted funds At 31 De¢ember 2023 At l January 2023 Income Expenditure General funds 9,406 158,279 (64,952) 102,733 At 31 December 2022 At l January 2022 Income Expenditure General funds 5,943 60,027 (56,564) 9,406 13. AnalysKs of net a￿ets between fund$ Unrestricted Totsl Funds Funds 2023 Current assets Creditors less than l year 104,233 (1.500) 102,733 104233 (1500) 102,733 Net assets Unrestricted Total Funds Funds 2022 Current &ssets Creditors less than l year Net assets 10,726 (1,320) 9,406 10,726 (1,320) 9,406 14. Related parties There were no related party tranwtions in the year under review.