CHARITY REGISTRATION NUMBER: 1070421 Torah Centre Tshebin Association Unaudited Financial Statements For the year ended 31 December 2024 COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road London NWII OPU Torah Centre Tshebin Association Finaneial Statements Year ended 31 December 2024 Pages Trustees, annual report Ito3 Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 7tolO Torah Centre Tshebin Association Trustees, Annual Report Yeydr ended 31 December 2024 The trustees present their report and the unaudited financial statements of the charity for the year endcd 31 December 2024. Reference and Vddministrative details Registered charity name Charity registration number Principal office Torah Centre Tshebin Association 107042 I 3 The Approach London NW4 2HU Tbe trustees Rabbi D Halpern Rabbi N Schneersohn Independent examiner Cohen Arnold New Burlington House 1075 Finchley Road London NWI I OPU Structureg governance and management The Charity is governed by a Declaration 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 the 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. Torah Centre Tshebin Association Trustees, Annual Report (continued) Year ended 31 December 2024 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, perfomi and carry out all or any of the following acts and things, namcly:_ 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 as 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 confirn] that they have ref¢rred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities. Achievements and perfonnance 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 £90,000 (2023: £63,000) was distributed in furtherance of the charity's objectives. FinaDcial review Income from donations aggregated £47,398 (2023: £158,279). Total resources expended wer¢ £91,832 (2023.. £64,952) resulting in a net deficit of £44.434 {2023: £93.327 surplus). As at 31 December 2024 the Charity had a surplus £58,299 (2023: £102,733) in Unrestricted Funds. The financial results of the Charity's activities for the year to 31 December 2024 are fully reflected in the attached Financial Statements together with the Notes thereon. Grant making policy Grants are made to charitabl¢ institutions and organisations which conforni to the objects of the charity after the trustees have satisfied themselves as to the bona fides of the recipients. Grants are considered for both capital projects and revenue funding. Reserves policy It is the policy of the charity to attempt maintain unrestricted funds, 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. Torah Centre Tshebin Association Trustees, Annual Report (eonrinued) Year ended 31 December 2024 The trustees, annual report was approved on 15 September 2025 and signed on behalf of the board of trustecs by: T) vL4- Rabbi D Halpern Trustee Torah Centre Tshebin Association Independent Examiner's Report to the Trustees of Torah Centre Tshebin Association Year ended 31 December 2024 I report to the trustees on my examination of the financial statements of Torah Centre Tshebin Association ('the charity,) for the year ended 31 December 2024. Responsibilitie5 Vdnd 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 carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement - matter of concern identified In forniing 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.. Events after the end of the reporting period. I confirni that no other matters have come to my attention in connection with my examination giving me Cause to believe that in any material respect: accounting records were not kept in respect of th¢ charity as required by section 130 of the Act; or the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements concerning the forni 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 confirni that there are no other matters to which your attention should b¢ drawn to enable a proper understanding of the accounts to be reached. Moshe Broner-cohen Independent Examiner New Burlington House 1075 Finchley Road London NWI I OPU Date Torah Centre Tsbebin Association Statement of Financial Activities Year ended 31 December 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Total income 47,398 47,398 47J98 47a98 158,279 158,279 Expenditure Expenditure on charitable activities TotAI expenditure (91,832) (91,832) (91,832) (91,832) (64,952) (64,952) Net {expenditure)lincome and net movement in funds (44,434) (44,434) 93,327 ReconeiliAtion of funds Total funds brought fonvard Total funds carried fonvard 102,733 58,299 102,733 58299 9,406 102,733 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 pog¢s 7 to 10 form part of these financial statements. Torah Centre Tshebin A&sociation Statement of Financial Position 31 December 2024 2024 2023 Note Current assets Cash at bank and in hand 59,799 104,233 Creditors: amounts falling due within one year Net current assets 11 (1,500) (1,500) 58.299 102.733 Total assets less current liabilities 58299 58,299 102.733 102,733 Net assets Funds of tbe charity Unrestricted funds 58,299 58299 102,733 102,733 Total charity funds 12 These financial statements were approved by the board of trustees and authorised for issu¢ on 15 September 2025, and are signed on behalf of the l)oard by: Rabbi D Halpern Trustee The notes on pages 7 to 10 form part of these financial statements. Torah Centre Tshebin Association Notes to the Financial Statements Year ended 31 December 2024 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal orrice is 3 The Approach, London. NW4 2HU. Statement of compliance These financial statements have been prepared in compliance 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 policies Basis of preparation The financial ststements have ￿en prepared on th¢ historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment prop¢rties measured at fair value through income or expenditure. The financial statements are prepared in sterlin& which is the functional currency of the entity. Going Concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of eytimation UDcertainty 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 reasonable under the circumstances. There are no material uncertainties, judgements, estimates and assumptions that affected the amounts reported in the year. Fllnd accounting Unrestricted funds ar¢ available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earn]arked 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 income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the harity and the amount can be reliably measured. The following spccific policies are applied to particular categories of income: Torah Centre Tshebin Association Notes to the Financial Statements fconlinued) Year ended 31 December 2024 Accounting policies (eonrfmied) Incoming resources (£'oniiMied) income from donations or grants is recognised 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 statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising 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 the gov¢rnanee of the charity apportioned to charitable activities. other exp¢nditure includes all ¢xpenditure 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. FinADcial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the ontractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivabl¢ or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present valu¢ of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. DoDations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 47,398 47 J98 158,279 158.279 Torah Centre Tshebin Association Notes to the Financial Statements (continued) Year ended 31 Deeember 2024 Expenditure on charitable activities by fund type Unrcstricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations paid Support costs 90.000 1,832 91,832 90.000 1,832 91,832 63,000 1,952 64,952 63,000 1,952 64,952 Expenditure OD Charitable activities by activity type Grant funding of activities Support costs Total funds 2024 Total fund 2023 Donations paid Governance costs 90,000 332 1,500 1,832 90J32 1,500 91,832 63,272 1,680 64,952 90,000 Analysis of support Costs Support costs Total 2024 Total 2023 General office Governance costs 332 1,500 1,832 332 1,500 1,832 272 1,680 1,952 AnAlysi$ of grants 2024 2023 Grants to institutions Torath Geonei Galizia Tshebiner Yeshiva "Kohav Miyaacov" Jerusalem Belt Meir Keilah Toranit 40,000 50,000 60,000 3,000 63,000 63,000 90,000 90,000 Total grants Independent examination fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 1500 1,680 Torah Centre Tshebin Association Notes to the Finaneial Statements (eontinued) Year ended 31 December 2024 10. Trustee remuDeration and expenses No salaries or wages havc been paid to employees, including the Trustees, durtng 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 2024 2023 Accruals and deferred income 1,500 1,500 12. Analysis of charitable funds Unrestricted funds At 31 December 2024 At l January 2024 Income Expenditure General funds 102,733 47,398 (9l,832) 58299 At 31 December 2023 At l January 2023 Income Expenditure General funds 9,406 158,279 (64,952) 102.733 13. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than l year Net assets 59,799 (1,500) 58,299 59,799 (1,500) 58299 Unrestricted Total Funds Funds 2023 Current assets Creditors less than l year Net assets 104,233 (1,500) 102,733 104,233 ( I,soo) 102,733 14. Related parties There were no related party transactions in the year under review. 10-