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2021-03-31-accounts

OHR TORAH LIMITED LIMITED BY GUARANTEE DIRECTORS’ AND TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

COMPANY NUMBER 3946114 (England and Wales) CHARITY NUMBER 1083461

1

OHR TORAH LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Legal and Administrative Information 3
Report of the trustees 4
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8
Independent Examiners Report 10

2

OHR TORAH LIMITED

Legal and Administrative Information

Directors and Trustees D Neuwirth
J Waldman
B Leitner
Secretary and Trustee Y I Luftig
Company Number 3946114
Charity Number 1083461
Registered Office B Olsberg & Co
Enterprise House
3 Middleton Road
Manchester M8 5DT

3

OHR TORAH LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees, who are also directors and secretary of the Charity for the purpose of the Companies Act have pleasure in presenting their report and financial statements of the charitable company for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005 in preparing the financial statements of the Charity.

OBJECTIVES OF OHR TORAH LIMITED

Ohr Torah Limited is governed by its Memorandum and Articles of Association. The charity’s objects and its principal activities are:

  1. To advance education and religion in accordance with Orthodox Judaism.

  2. To relieve poverty and carry out other charitable activities.

The principal activity of the charity is the running of a school.

The charity is organised so that the trustees meet regularly to manage its affairs. The charity does not use voluntary assistance. Administration of the charity is dealt with by the trustees

PUBLIC BENEFIT

The trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity’s aims and objectives and in planning future activities and setting grant making policy for the year.

LEGAL STATUS

The company is limited by guarantee and is governed by its memorandum and articles of association dated 29th February 2000. The company is a registered charity - number 1083461.

PRINCIPAL ACTIVITY AND REVIEW OF THE YEAR

The principal activity of the Charity in the year under review was supporting the running of a school.

ORGANISATION

The charity is managed by a committee of the trustees which is composed of the directors and secretary of the Charity.

INVESTMENT POWERS AND RESTRICTIONS

The trustees have wide-ranging investment powers to invest the Charity's assets as they see fit in the furtherance of the Charity's objectives.

REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS

The financial statements for the period show a surplus of £38,487 (2020 – 24,217). The trustees consider the financial position of the charity to be satisfactory, on the basis of substantial retained reserves.

The financial statements conform to current statutory requirements and comply with the Charity's governing documents.

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RESERVES POLICY

The charity was holding reserves at the year end to cover future school running costs.

RISK MANAGEMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they are satisfied

REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS

Ohr Torah Limited continued to support the running of a school. This is funded by income from donations and interest receivable on loans made.

THE TRUSTEES

The trustees who served the charitable company during the period were:-

D Neuwirth J Waldman Y I Luftig B Leitner

RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also the directors of Ohr Torah Limited (Limited by Guarantee) for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice).

Company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SIGNED ON BEHALF OF THE TRUSTEES:

………………………………………………… D NEUWIRTH – TRUSTEE Dated 24 January 2022

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OHR TORAH LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
GENERAL FUND
Income and Expenditure
Incoming Resources
Donations and Sundry receipts
Interest Receivable
Furlough
Lottery Grant
Rents
Resources Expended
Direct Charitable Expenditure
3
Administrative
Accountancy
Total Resources Expended
Loan Interest and Finance Costs
Net Incoming Resources
Balance Brought Forward
Fund Balance carried forward
at 31stMarch 2021		 2021
Unrestricted
£
188,279
2,301
32,038
10,000
2,850
235,468
172,192
1,800
173,992
22,989
196,981
38,487
455,025
493,512		 2020
£
234,060
2,301
1,500
237,861
182,617
2,100
184,717
28,897
213,614
24,247
430,778
455,025

There were no recognised gains and losses for 2021 and 2020 other than those included in the above Statement of Financial Activities.

The notes form part of these accounts

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OHR TORAH LIMITED
BALANCE SHEET AS AT 31 MARCH 2021
2021
Note
£
£
Fixed Assets
2
1,203,114
Current Assets
Debtors
4
131,101
Bank
25,211
156,312
Creditors payable within
one year
5
(32,571)
123,741
1,326,855
Creditors due beyond one
year
(833,343)
493,512
Capital and Reserves
Income and Expenditure
Account-
(unrestricted funds)
493,512
£
124,700
16,200		 2020
£
1,185,417
78,733
140,900
(62,167)
1,264,150
(809,125)
455,025
455,025

The trustees are satisfied that the charity is entitled to exemption from the provisions of the companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The trustees acknowledge their responsibilities for:

The financial statements were approved by the trustees on 24 January 2022 and signed on its behalf by:

D Neuwirth Director Company Registration Number: 3946114

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OHR TORAH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities 2008 and comply with the Statement of Recommended Practice 2005 'Accounting and Reporting by Charities'.

Tangible fixed assets

Depreciation is not provided in respect of land and buildings. Whilst recognising that the Investment property of the Charity should be valued at market value, the trustees consider that the benefits of the revaluation do not warrant the costs and carry the properties at historic cost.

Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

There are no designated or restricted funds in relation to the activities of the charitable company.

Incoming resources

All incoming resources are included in the SOFA when the charitable company is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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.

2.

Fixed Assets

Classroom
Property Costs brought forward
Additions
Purchase of Bevendon Square
Furniture and Fixtures
Cost brought forward
Additions in year
Less depreciation
Shares in Subsidiary
Haddon Limited - 5 Ordinary £1 shares
Total		 16,915
18,606
13,288
-
(9,654)		 35,521
1,163,954
3,634
5
1,203,114

8

OHR TORAH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3.
Direct Charitable Expenditure
School Salaries
Professional Fees
School Requisites
School Trips, Outings and Functions
Rent and Rates
Light and Heat
Insurance
Repairs and Maintenance
Depreciation
Printing, postage, stationery &
sundry
Bank Charges
Charitable distributions
Advertising
4.
Debtors
Sundry
Income Accrued
Loan to Haddon Ltd (Subsidiary)
The loan to Haddon Ltd is secured by
5.
Creditors
Bank Loan
Expenses Accrued
Loans
Sundry
6.
Staff Costs
School Salaries
Services
Teachers		 2021
£
79,051
47,397
6,948
23,648
659
368
3,247
9,641
909
412
-88
172,192
120
34,617
96,364
131,101
a debenture.
15,000
4191
10,780
2,600
32,571
79,050
79,050
10		 2020
£
76,234
47,210
9,671
33,451
-
796
3,166
5,740
1,514
4,400
-
180
255
182,617
120
32,316
92,264
124,700
15,000
4887
38,780
3,500
62,167
74,554
1,680
76,234
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7. The charity entered into a joint and several loan agreement together with another charity Chassidei Belz (Manchester) Synagogue Account. The original loan is from The Unity Trust bank for an amount of £850,000 and is secured on the assets of the charity. The purpose of the loan was to fund the purchase of a school building. Ohr Torah holds title to the school building and is repaying the loan.

8. The company owns the total issued share capital of its subsidiary Haddon Ltd which is registered in England and Wales.

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF OHR TORAH LIMITED

I report on the financial statements of the Trust for the period ended 31 March 2021 which are set out on pages 6-9.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income was £235,468 and I am qualified to undertake examination by being a qualified member of the I.C.A.E.W .

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as 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.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

B OLSBERG B OLSBERG & CO CHARTERED ACCOUNTANTS

3 MIDDLETON RD M8 5DT 24 January 2022

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