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2023-03-31-accounts

OHR TORAH LIMITED LIMITED BY GUARANTEE DIRECTORS’ AND TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

COMPANY NUMBER 3946114 (England and Wales) CHARITY NUMBER 1083461

1

OHR TORAH LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

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 2023. 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 empowering of young people by: Developing their skills and capabilities, enabling their participation in society. Recreational activities for socially disadvantaged individuals due to youth, age, infirmity, disability, poverty or economic circumstances, aiming to improve their quality of life. Counselling and support to relieve mental health illness.

The charity is organised so that the trustees meet regularly to manage its affairs. 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 youth activities.

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 £47,028 (2022 – 51,670). 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.

RESERVES POLICY

The charity was holding reserves at the year end to cover future activities.

4

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 youth activities. 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 14 February 2024

5

OHR TORAH LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Note
GENERAL FUND
Income and Expenditure
Incoming Resources
Donations and Sundry receipts
Interest Receivable
Furlough
Grants
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 2023		 2023
Unrestricted
£
172,732
2,409
-
20,000
16,120
211,261
124,282
1,800
126,082
38,151
164,233
47,028
545,182
592,210		 2022
£
180.172
2,409
9,817
-
12,210
204,608
127,140
1,800
128,940
23,998
152,938
51,670
493,512
545,182

There were no recognised gains and losses for 2023 and 2022 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 2023

Note
Fixed Assets
2
Current Assets
Debtors
4
Bank
Creditors payable within
one year
5
Creditors due beyond one year
Capital and Reserves
Income and Expenditure Account-
(unrestricted funds)		 £
135,919
6,714		 2023
£
1,301,350
83,867
1,385,217
(793,007)
592,210
592,210		 £
133,510
26,422		 2022
£
1,241,150
110,215
142,633
(58,766)		 159,932
(49,717)
1,351,365
(806,183)
545,182
545,182

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 14 February 2024 and signed on its behalf by:

D Neuwirth

Director

Company Registration Number: 3946114

7

OHR TORAH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

Building
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		 74,465
60,200
13,288
-
(10,562)		 134,665
1,163,954
2,726
5
1,301,350

8

OHR TORAH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2023
£
3.
Direct Charitable Expenditure
Salaries
83,393
Staff Training
1,391
Professional Fees
6,789
Pension
1,184
Requisites
-
Trips, Outings and Functions
16,040
Rent and Rates
Light and Heat
1,541
Insurance
3,958
Repairs and Maintenance
7718
Depreciation
-
Printing, postage, stationery & sundry
1,551
Bank Charges
717
124,282
4.
Debtors
Sundry
120
Income Accrued
37,026
Loan to Haddon Ltd (Subsidiary)
98,773
135,919
The loan to Haddon Ltd is secured by a debenture.
5.
Creditors
Bank Loan
15,000
Expenses Accrued
39,070
Loans
2,896
Sundry
1,800
58,766
6.
Staff Costs
School Salaries
83,393
83,393
Teachers
10		 2022
£
86,594
15,436
1,013
6,806
-
3,488
2,721
8,819
908
788
567
127,140
120
37,026
96,364
133,510
15,000
18,322
13,796
2,600
49,717
86,594
86,594
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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 building. Ohr Torah holds title to the building and is repaying the loan.

9

OHR TORAH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023 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 £204,608 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:

(1) which gives me reasonable cause to believe that in any material respect the requirements

 to keep accounting records in accordance with Section 386 of the

Companies Act 2006; and

 to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

 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.

B OLSBERG B OLSBERG & CO CHARTERED ACCOUNTANTS 3 MIDDLETON RD M8 5DT 22 February 2024

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