## **KOLLEL LEV EPHRAIM**
## **Annual Report and Financial Statements**
**For year ended 31 August 2020**
## **Charity Registration Number**
## **1080368**
**Accounts & Business Solutions Ltd** 158 Cromwell Road Salford M6 6DE
Page 2
## **KOLLEL LEV EPHRAIM**
## Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
## **Contents**
||**Page**|
|---|---|
|Charity Information|3|
|Report of The Trustees|4 - 6|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes forming part of the financial statements|10 - 12|
Page 3
## **KOLLEL LEV EPHRAIM**
Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
## **Charity Information**
## **Chairman and Treasurer**
C Krausz
## **Board of Trustees**
C M Margulies A Weiniger
## **Administration Address**
184 Whitehall Road Gateshead NE8 1TP
**Charity Number** 1080368
## **Bankers**
Lloyds Bank plc 17 Ellison Walk Gateshead Tyne and Wear NE8 1BF
## **Accountants and Independent examiners**
H Davies FCCA Accounts & Business Solutions Ltd Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
Page 4
# **KOLLEL LEV EPHRAIM** Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
# **Report of the Trustees**
The trustees present their report and accounts for the year ended 31 August 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Declaration of Trust , the Charities Act 2011 and “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 2015)”
## **Status and Administration**
The Charity constituted by a declaration of trust dated 21 September 1999 as amended by supplemental deed dated 27 February 2000 and is a registered charity.
## **Trustees**
The Trustees in office throughout the year were C M Margulies and A Weiniger.
No trustee nor any person connected with them received any remuneration during the year.
The primary objective of the Trust is to advance and promote Jewish religious education in any part of the world.
The Trustees' policy is:-
- 1) To establish and maintain an institution of higher Rabbinical studies and research in memory of Mr Ephraim Zalman Margulies;
- 2) to grant scholarships, bursaries and make other payments to students and researchers whose work the Trustees consider will be conducive to the promotion of the said primary object; to publish any books or other instructional or educational matter which they may think suitable and conducive to the promotion of the said object;
- 3) to organise lectures, courses of study, seminars and other educational groups for the purpose of promoting the said primary object;
- 4) for the purposes of the promotion of the said primary object but not otherwise the Trustees may apply any part or parts of the Trust Fund and the income thereof by granting loans free of interest on such terms as to repayment and security (if any) as the Trustees shall in their absolute discretion think fit (including the power to dispense with any form of security or guarantee if the Trustees so determine) to encourage and assist authors and other persons to produce educational material for the purposes of promoting the said primary object.
**KOLLEL LEV EPHRAIM**
Page 5
## Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
## **Report of the Trustees (continued)**
## **Public benefit**
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Reserves policy**
The charity holds reserves in order to ensure that it can maintain the level of support that it is currently providing to the community in which it operates. We consider that the level of our reserves should be sufficient to meet our charitable expenditure for approximately six months. At 31 August 2020 our free reserves stood at £74,458
## **Risk management**
The process of examining the risks to which the Charity is exposed is ongoing and the trustees are planning to further develop systems to monitor and control these risks in order to lessen their potential impact on the Charity.
## **Donations received**
Donations received during the year amount to £113,541 (2019: £109,484), of which £83,163 was used for grants made (2019: £93,412)
None of this valuable work would be possible without the ongoing support of our funders who have faith in our organisation.
These funds have enabled us to provide the much needed support to the Institutions and beneficiaries.
The recipients of our services continuously express their appreciation and admiration to all members of the public that assist us in delivering vital services.
We are proud to state that the funds are being utilized to provide maximum benefit possible to as many beneficiaries as possible.
## **Responsibilities of the Trustees**
Charity Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the Balance Sheet date, and of its incoming resources, including income and expenditure for the financial year.
Page 6
## **KOLLEL LEV EPHRAIM**
## Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
## **Report of the Trustees (continued)**
In preparing those financial statements, the Trustees should follow best practice and
- a. Select suitable accounting policies and apply them consistently.
- b. Make judgments and estimates that are reasonable and prudent.
- c. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements.
- d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Trustees to ensure that the financial statements comply with the Charity Law.
The Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.
Approved by The Trustees on 19 May 2021
A Weiniger - Trustee
Page 7
## **KOLLEL LEV EPHRAIM** Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
## **Independent Examiner's Report to the Trustees**
I report on the financial statements of KOLLEL LEV EPHRAIM for the year ended 31 August 2020.
## **Respective Responsibilities of Governors and Examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention
## **Basis of Independent Examiner's Report**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
In connection with my examination, no matter has come to my attention;
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
H Davies FCCA Accounts & Business Solutions Ltd 158 Cromwell Road Salford M6 6DE
Date: 19 May 2021
Page 8
## **KOLLEL LEV EPHRAIM**
## Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
## **Statement of Financial Activities**
|**Incoming Resources**
Donations received
Other income
Interests received
**_Less:_**
**Cost of generating funds**
Travel and fundraising expenses
**Net incoming resources available**
**for charitable application**
**_Less:_**
**Charitable expenditure**
_Cost of Activities In Furtherance_
_of the Charity's Objects_
Repairs and renewals
Grants made
Donations
Printing, postage and stationery
Staff costs
Bank charges
Sundry expenses
Telephone
Yom tov and siyum events
**_Less:_**
**Governance costs**
Independent examiner's fees
**Accumulated Funds**
Net surplus / (deficit) for the year
Balance brought forward
Balance carried forward|_Notes_
_10_
_6_
_9_||_Unrestricted_
_funds_
_£_
113,541
3,971
10
117,522
662
116,860
470
83,163
497
1003
11,546
0
402
474
0
97,555
600
18,705
55,753
74,458|**_2020_**
**_Total_**
**_£_**
**113,541**
**3,971**
**10**
**117,522**
**662**
**116,860**
**470**
**83,163**
**497**
**1,003**
**11,546**
**0**
**402**
**474**
**0**
**97,555**
**600**
**18,705**
**55,753**
**74,458**|_2019_
_Total_
_£_
109,484
0
10
109,494
883
108,611
585
93,412
401
550
10,192
9
907
62
1,400
107,518
600
493
55,260
55,753|
|---|---|---|---|---|---|
The statement of Financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The attached notes form part of these accounts.
Page 9
## **KOLLEL LEV EPHRAIM**
## Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
## **Balance Sheet At 31 August 2020**
|**Current Assets**
Debtors
Cash at Bank
**Current Liabilities**
Creditors
**Net Assets**
**Accumulated Funds**
Restricted
Unrestricted|_Notes_
_3_
_4_
_8_|**_2020_**
**_£_**
**35,060**
**39,998**
**75,058**
**(600)**
**74,458**
**-**
**74,458**
**74,458**|_2019_
_£_
24,960
31,393
56,353
(600)
55,753
-
55,753
55,753|
|---|---|---|---|
Approved by the Trustees on 19 May 2021 and signed on behalf of them all.
Trustee A Weiniger
The notes on pages 10 to 12 form part of these accounts.
Page 10
**KOLLEL LEV EPHRAIM** Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
## **Notes To The Accounts**
## **1) Principal Accounting Policies**
## **Charity information**
Lev Ephraim is a registered charity constituted by a declaration of trust. The principal place of business is 184 Whitehall Road, Gateshead, NE8 1TP.
## **Accounting convention**
The accounts have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and “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 2015)”. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **Going concern**
At the time of approving the accounts, 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 accounts.
## **Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
## **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.
All income is accounted for on the accruals basis and represents donations received and investment income.
## **Resources expended**
Charitable expenditure relates to direct charitable activities.
Governance costs are general costs which have been incurred in order that the charity can operate effectively and to generate the information required for public accountability.
**KOLLEL LEV EPHRAIM** Charity Commission Number 1080368 Financial Statements For year ended 31 August 2020
Page 11
## **Notes To The Accounts (continued)**
## **Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **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.
## **2) Taxation**
The Charitable Company is exempt from taxation on its charitable activities.
|**3)**
**Debtors**
Charitable Loans
Credit card
**4)**
**Creditors**
Accruals|**_2020_**
**_£_**
**35,060**
-
**35,060**
**_2020_**
**_£_**
**600**
**600**|_2019_
_£_
24,960
255
25,215
_2019_
_£_
600
600|_2019_
_£_
24,960
255
25,215
_2019_
_£_
600
600|
|---|---|---|---|
||||_£_
600
600|
## **5) Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
Page 12
## **KOLLEL LEV EPHRAIM**
## Charity Commission Number 1080368 Financial Statements
## For year ended 31 August 2020
## **Notes To The Accounts (continued)**
|**6)**
**Employees**
Number of employees
The average number of employees during the year:
**Employment costs**
Wages and salaries
**7)**
**Financial instruments**
**Carrying amount of financial assets**
Debt instruments measured at amortised cost
Carrying amount of financial liabilities||**_2020_**
**_Number_**
**2**
**_2020_**
**_£_**
**11,546**
**35,060**
**600**|_2019_
_Number_
2
_2019_
_£_
10,192
24,960
600|
|---|---|---|---|
## **8) Unrestricted funds**
The income funds of the charity include un restricted funds comprising the following unexpended balances:
|**Movement in funds**
Balance at 1 September 2019
Incoming resources
Resources expended
Balance at 1 September 2020|£
55,753
117,522
(98,817)
74,458|
|---|---|
## **9) Governance**
|**Independent Examiner fee**
fees payable to the independent examiner for:
independent examination of the financial statements
**10) Grants made**
Charitable and educational grants to individuals|**600**
**83,163**|600
93,412|
|---|---|---|