The Torah Learning Centre
Report and Financial Statements
For The Year Ended 31 December 2022 Charity Number 1083899
The Torah Learning Centre
| Contents | |
|---|---|
| Page | |
| Legal and Administrative Information | 1 |
| Report of The Trustees | 2 and 3 |
| Statement Of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes forming part of the financial statements | 6 to 8 |
| Independent Examiner's Report | 9 |
The Torah Learning Centre
Trustees
Mrs. Chaya Fogel Mr. Issac Goldenberg
Administration Address
Mr. Jacob Grunhut 71 Fairholt Road Stoke Newington London N16 5EW
Charity Number 1083899
Independent Examiner
C. Rosen & Co
Page 1
The Torah Learning Centre Report of the Trustees
The Trustees present their annual report with accounts of the Charity for the Year Ended 31 December 2022.
Status and Administration
The Torah Learning Centre is constituted by trust deed, dated 30th November 2020 and is a Registered Charity.
Trustees
The Trustees in office throughout the year were: Mr. Jacob Akiva Grunhut Mrs. Chaya Fogel Mr. Issac Goldenberg
No trustee has any beneficial interest in the Charity and all gave their time voluntarily.
Objectives and Activities
The Torah Learning Centre was established to advance Talmudical Research of the wider Jewish Community.
The Charity supports the College financially.
The Charity usually makes Grants to other organisations and when it does so, the Trustees ensure that the recipient meets the Charity's objectives.
Financial Review
Our principle sources of funding are via voluntary income (donations).
There are no restrictions on the Charity's Power to invest. The Trust Deed authorises the trustees to make and hold investments using the general funds of the Charity.
Page 2
The Torah Learning Centre Report of the Trustees
Risk Assessment
The Charity has identified and assessed the major risks to which it is exposed. whilst in the Charity's care as well as the finances of the Charity.
The Charity is satisfied that systems are in place and routinely assessed including procedures, and Financial and Management Controls.
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.
In preparing those financial statements, the Trustees should follow best practice and
a. Select suitable accounting policies and the apply them consistently.
b. Make judgements and estimates that are reasonable and prudent.
c. Follow applicable accounting standards and the Charities SORP 2015, 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.
Board Of Trustees
The members of the Board Of Trustees are set out on Page 1.
Mr. Issac Goldenberg Trustee 23 October 2023
Page 3
The Torah Learning Centre
Statement Of Financial Activities
For The Year Ended 31 December 2022
| Notes | Unrestricted | Restricted | Restricted | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Total | ||||||
| Funds | Funds | Total Funds | Funds | |||
| £ | £ | £ | £ | |||
| INCOMING RESOURCES | ||||||
| Activities to further the Charity's Objects | 2 | 176,437 | 0 | 176,437 | 172,789 | |
| Interest Income | 0 | 0 | 0 | 0 | ||
| Total Incoming Resources | 176,437 | 0 | 176,437 | 172,789 | ||
| Total Incoming Resources | 176,437 | 0 | 176,437 | 172,789 | ||
| RESOURCES EXPENDED | ||||||
| Cost of Generating Funds | 0 | 0 | 0 | 0 | ||
| Net Incoming Resources Available | ||||||
| For Charitable Application | 176,437 | 0 | 176,437 | 172,789 | ||
| Cost of Activities In Furtherance | 3 | |||||
| of the Charity's Objects | 182,639 | 0 | 182,639 | 143,350 | ||
| Governance Costs | 5 | 447 | 0 | 447 | 1,102 | |
| Total Charitable Expenditure | 183,086 | 0 | 183,086 | 144,452 | ||
| Total Resources Expended | 3 | 183,086 | 0 | 183,086 | 144,452 | |
| Net Movement In Funds | (6,649) | 0 | (6,649) | 28,337 | ||
| Transfer To / (From) Reserves | 0 | 0 | 0 | 0 | ||
| Net Reserves for the Year | (6,649) | 0 | (6,649) | 28,337 | ||
| Total Funds Brought Forward |
30,404 | 0 | 30,404 | 2,067 | ||
| Total Funds Carried Forward |
11 | £ 23,755 | £ | 0 | £ 23,755 | £ 30,404 |
Page 4
The Torah Learning Centre
Balance Sheet at 31 December 2022
| Notes Current Assets Debtors 8 Cash at Bank and in Hand Creditors :Amounts falling due within one year 9 Net Current Assets Total Assets less Current Liabilities Net Assets 10 Restricted Funds 11 Unrestricted Funds 12 Total Funds |
2022 2021 £ £ 12,000 0 39,552 38,701 51,552 38,701 (27,797) (8,297) 23,755 30,404 23,755 30,404 £ 23,755 £ 30,404 0 0 23,755 30,404 £ 23,755 £ 30,404 |
2022 2021 £ £ 12,000 0 39,552 38,701 51,552 38,701 (27,797) (8,297) 23,755 30,404 23,755 30,404 £ 23,755 £ 30,404 0 0 23,755 30,404 £ 23,755 £ 30,404 |
|---|---|---|
| 38,701 (8,297) |
||
| 30,404 | ||
| 30,404 | ||
| 30,404 | ||
| £ | 0 30,404 |
|
| 30,404 |
Approved by the Trustees on 23 October 2023, and signed on behalf of them all.
Mr. Issac Goldenberg Trustee
The notes on pages 6 to 8 form part of these accounts.
Page 5
The Torah Learning Centre
Notes To The Accounts - 31 December 2022
1) Principal Accounting Policies
Basis of Accounting
The Accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (effective from April 2015).
Cash Flow
The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.
Donations and Fund Accounting
Donations received for the general and main purposes of the Charity is included as unrestricted funds in the Statement of Financial Activities when receivable.
Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.
Resources Expended
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The irrecoverable element of VAT is included with the item of expense to which it relates.
| Unrestricted Restricted Funds Funds £ £ 2) Incoming Funds Donations Received 176,437 Total Income Generated £ 176,437 £ 0 |
Total 2022 £ 176,437 £ 176,437 £ |
2021 £ 172,789 |
|---|---|---|
| 172,789 |
Page 6
The Torah Learning Centre
Notes To The Accounts - 31 December 2022
| Unrestricted Restricted 3) Analysis of Total Resources Expended Funds Funds Charitable Activities Cost of Activities In Furtherance of the Charity's Objects Charitable Activities Advertising 7,508 Award 1,725 Cleaning 0 Commission of Card Machine 442 Covid 19 Grants 0 Donations and Grants 16,128 Hall Hire 0 Holiday Grants 27,454 Office Expenses 0 Payroll 49,092 Printing and Books 2,954 Rent Payable 19,200 Refreshments 35,425 Repairs and Maintenance 9,000 Student Grants 13,711 Travel 0 Total 182,639 0 Total Cost of Activities In Furtherance of the Charity's Objects £ 182,639 £ 0 4) Cost of Generating Funds 5) Governance Costs Accountancy Bank Charges 6) Taxation Charitable Activities |
Total Total 2022 2021 £ £ 7,508 3,190 1,725 2,000 0 3,200 442 0 0 5,800 16,128 18,676 0 0 34,485 0 0 49,092 29,617 2,954 5,458 19,200 18,700 35,425 11,591 9,000 0 13,711 9,745 0 888 155,185 143,350 £ 182,639 £ 143,350 £ 0 £ 0 0 140 447 962 £ 447 £ 1,102 |
|---|---|
The Charity is exempt from taxation on its charitable activities.
| 7) | The average number of Employees during the year, on a full time equivalen | 2022 | 2021 |
|---|---|---|---|
| basis was | 9 | 9 |
No Employee was paid above £60,000 per year.
Page 7
The Torah Learning Centre Notes To The Accounts - 31 December 2022
| 8) Debtors | 2022 | 2021 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | ||||||||||||||||
| Other Debtors | 12,000 | 0 | |||||||||||||||
| Tax Refundable | 0 | 0 | |||||||||||||||
| £ 12,000 | £ | 0 | |||||||||||||||
| 9) Creditors: Amounts | falling due within | one year | |||||||||||||||
| 2022 | 2021 | ||||||||||||||||
| £ | £ | ||||||||||||||||
| Accruals | 0 | 0 | |||||||||||||||
| Other Creditors | 27,797 | 8,297 | |||||||||||||||
| £ 27,797 | £ 8,297 | ||||||||||||||||
| 10) Net Assets of The | Charity's Funds | Net | |||||||||||||||
| Fixed | Current | Long Term | Fund | ||||||||||||||
| Assets | Assets | Liabilities | Balances | ||||||||||||||
| £ | £ | £ | £ | ||||||||||||||
| Restricted Funds | 0 | 0 | 0 | 0 | |||||||||||||
| Unrestricted Funds | 0 | 23,755 | 0 | 23,755 | |||||||||||||
| Total Funds | £ | 0 | £ | 23,755 | £ | 0 | £ 23,755 | ||||||||||
| 11) Restricted Funds | : Movements | In | The Year | ||||||||||||||
| Balance at | Transfer | To | Balance at | ||||||||||||||
| 31 December | 2021 | Income | Expended | /(From) | 31 December 2022 | ||||||||||||
| £ | £ | £ | Reserves | £ | |||||||||||||
| 0 | 0 | 0 | 0 | 0 | |||||||||||||
| Total Funds | £ | 0 | £ | 0 | £ | 0 | £ | 0 | £ | 0 | |||||||
| 12) Unrestricted Funds | : Movements | In | The Year | ||||||||||||||
| Balance at | Transfer | To | Balance at | ||||||||||||||
| 31 December | 2021 | Income | Expended | /(From) | 31 December 2022 | ||||||||||||
| £ | £ | £ | Reserves | £ | |||||||||||||
| General Reserve | 30,404 | 176,437 | 183,086 | 0 | 23,755 | ||||||||||||
| Total Funds £ |
30,404 | £ 176,437 | £ 183,086 | £ | 0 | £ 23,755 |
13) Related Party Transactions
No trustee nor any person connected with them received any remuneration, or claimed any expense, during the year, from this or any related Charity.
There were no Related Party Transactions in the Year.
Page 8
Independent Exmainer's Report to the Trustees on the Unaudited Accounts of the Charity The Torah Learning Centre For the Year Ended 31 December 2022
We report on the financial statements of The Torah Learning Centre for the Year Ended 31 December 2022 which comprise the Swhich comprise the Statement of Financial Activities, the Balance Sheet and related notes. These financial statements have been prepared, under the historical cost convention, and in accordance with the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (Issued 2015), and the Financial Reporting Standard for Smaller
Entities 102 (effective 2016), and the accounting policies set out therein.
Respective Responsibilities Of Trustees and Independent Exmainer
As described on page 3, the trustees of the charity are responsible for the preparation of the accounts, and they consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 144 of the Act, whether particular matters have come to our attention.
Basis of Independent Examiner's Report
Our 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. These procedures provide only the assurance expressed in our opinion.
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Opinion
In our opinion, no matter has come to our attention,
-
1) which gives us reasonable cause to believe that, in any material respect, the requirements a) to keep accounting records in accordance with section 130 of the Act; and
-
b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
-
2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date 23 October 2023
Independent Examiner
- C. Rosen & Co
Page 9