REGISTERED COMPANY NUMBER: 03946374 (England and Wales) REGISTERED CHARITY NUMBER: 1085436
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2022
FOR
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH NOVEMBER 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th November 2022. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity's object and principal activity continues to be that of the advancement of Orthodox Jewish Religious Education amongst members of the Jewish faith throughout the world and such other charitable purposes as the Charity may from time to time determine.
The Charity is organised so that the Directors and Trustees meet regularly to manage its affairs and deal with the day to day administration.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are satisfied with the level of donations during the year and are confident of a growth in the foreseeable future.
FINANCIAL REVIEW
The Statement of Financial Activities shows a surplus for the year of £18,067 (£12,579 in 2021) and our reserves stand at a surplus of £33,319 (£15,252 in 2021).
FUTURE PLANS
The need for our services is increasing and we plan to continue doing what we can to assist. However, the Trustees realise that we must use the resources we have wisely and so we will continue to target those problems where we have expertise to make the most difference. We therefore intend to continue our approach of education and training, with further projects to build on the previous ones.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03946374 (England and Wales)
Registered Charity number
1085436
Registered office
923 Finchley Road Golders Green London NW11 7PE
Trustees
Rabbi Anthony Katz Jeremy Compton Russell
Page 1
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH NOVEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary Jeremy Compton Russell
Independent Examiner
Joey Joseph Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
Approved by order of the board of trustees on 24th August 2023 and signed on its behalf by:
Rabbi Anthony Katz - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
Independent examiner's report to the trustees of Gateshead Academy For Torah Studies Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th November 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Joey Joseph
Joseph Kahan Associates LLP Chartered Accountants 923 Finchley Road London NW11 7PE
24th August 2023
Page 3
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH NOVEMBER 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 113,064 Investment income 2 6 Other income - Total 113,070 EXPENDITURE ON Raising funds 8,139 Charitable activities Management and administration 86,864 Total 95,003 NET INCOME 18,067 RECONCILIATION OF FUNDS Total funds brought forward 15,252 TOTAL FUNDS CARRIED FORWARD 33,319 |
2021 Total funds £ 95,688 1 19,103 |
|---|---|
| 114,792 | |
| 5,389 96,824 |
|
| 102,213 | |
| 12,579 2,673 |
|
| 15,252 |
The notes form part of these financial statements
Page 4
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
STATEMENT OF FINANCIAL POSITION 30TH NOVEMBER 2022
| 2022 Unrestricted fund Notes £ CURRENT ASSETS Debtors 7 23,135 Cash at bank 11,308 34,443 CREDITORS Amounts falling due within one year 8 (1,124) NET CURRENT ASSETS 33,319 TOTAL ASSETS LESS CURRENT LIABILITIES 33,319 NET ASSETS 33,319 FUNDS 9 Unrestricted funds 33,319 TOTAL FUNDS 33,319 |
2021 Total funds £ 1,302 15,074 16,376 (1,124) 15,252 15,252 15,252 15,252 15,252 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 24th August 2023 and were signed on its behalf by:
Rabbi Anthony Katz - Trustee
The notes form part of these financial statements
Page 5
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 50% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH NOVEMBER 2022
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Deposit account interest | 6 | 1 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30th November 2022 nor for the year ended 30th November 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30th November 2022 nor for the year ended 30th November 2021.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Consultancy and research No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Other income Total EXPENDITURE ON Raising funds Charitable activities Management and administration Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
2022 2021 4 6 Unrestricted fund £ 95,688 1 19,103 114,792 5,389 96,824 102,213 12,579 2,673 |
2022 2021 4 6 Unrestricted fund £ 95,688 1 19,103 114,792 5,389 96,824 102,213 12,579 2,673 |
|---|---|---|
| 114,792 | ||
| 5,389 96,824 |
||
| 102,213 | ||
| 12,579 2,673 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH NOVEMBER 2022
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|
| Unrestricted | |||
| fund | |||
| £ | |||
| TOTAL FUNDS CARRIED FORWARD | 15,252 | ||
| 6. | TANGIBLE FIXED ASSETS | ||
| Computer | |||
| equipment | |||
| £ | |||
| COST | |||
| At 1st December 2021 and | |||
| 30th November 2022 | 709 | ||
| DEPRECIATION | |||
| At 1st December 2021 and | |||
| 30th November 2022 | 709 | ||
| NET BOOK VALUE | |||
| At 30th November 2022 | - | ||
| At 30th November 2021 | - | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Deposit | 21,833 | - | |
| Whinney | 1,000 | 1,000 | |
| Gift aid receivable | 302 | 302 | |
| 23,135 | 1,302 |
continued...
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GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH NOVEMBER 2022
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 9. MOVEMENT IN FUNDS At 1.12.21 £ Unrestricted funds General fund 15,252 TOTAL FUNDS 15,252 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 113,070 TOTAL FUNDS 113,070 Comparatives for movement in funds At 1.12.20 £ Unrestricted funds General fund 2,673 TOTAL FUNDS 2,673 |
2022 2021 £ £ 1,124 1,124 Net movement At in funds 30.11.22 £ £ 18,067 33,319 18,067 33,319 Resources Movement expended in funds £ £ (95,003) 18,067 (95,003) 18,067 Net movement At in funds 30.11.21 £ £ 12,579 15,252 12,579 15,252 |
2022 2021 £ £ 1,124 1,124 Net movement At in funds 30.11.22 £ £ 18,067 33,319 18,067 33,319 Resources Movement expended in funds £ £ (95,003) 18,067 (95,003) 18,067 Net movement At in funds 30.11.21 £ £ 12,579 15,252 12,579 15,252 |
2022 2021 £ £ 1,124 1,124 Net movement At in funds 30.11.22 £ £ 18,067 33,319 18,067 33,319 Resources Movement expended in funds £ £ (95,003) 18,067 (95,003) 18,067 Net movement At in funds 30.11.21 £ £ 12,579 15,252 12,579 15,252 |
2021 £ 1,124 |
|---|---|---|---|---|
| 18,067 | ||||
| At 30.11.21 £ 15,252 15,252 |
||||
| 15,252 |
continued...
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GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH NOVEMBER 2022
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 114,792 114,792 |
Resources Movement expended in funds £ £ (102,213) 12,579 (102,213) 12,579 |
Resources Movement expended in funds £ £ (102,213) 12,579 (102,213) 12,579 |
|---|---|---|---|
| 12,579 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net At movement At 1.12.20 in funds 30.11.22 £ £ £ 2,673 30,646 33,319 2,673 30,646 33,319 |
Net At movement At 1.12.20 in funds 30.11.22 £ £ £ 2,673 30,646 33,319 2,673 30,646 33,319 |
|---|---|---|
| 33,319 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 227,862 227,862 |
Resources Movement expended in funds £ £ (197,216) 30,646 (197,216) 30,646 |
Resources Movement expended in funds £ £ (197,216) 30,646 (197,216) 30,646 |
|---|---|---|---|
| 30,646 |
continued...
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GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH NOVEMBER 2022
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30th November 2022.
Page 11
GATESHEAD ACADEMY FOR TORAH STUDIES LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH NOVEMBER 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest Other income COVID grant Total incoming resources EXPENDITURE Raising donations and legacies Light, heat and water Repairs Telephone Printing and advertising Sundries Rent Companies House Bookkeeping Bank and credit card charges Professional fee Food and catering Charitable activities Wages, consultancy and research Grants to institutions Bursaries Support costs Governance costs Accountancy fees Total resources expended Net income |
2022 £ 113,064 6 - 113,070 555 - 10 71 101 5,060 26 200 - 150 1,966 8,139 18,757 7,386 60,221 86,364 500 95,003 18,067 |
2021 £ 95,688 1 19,103 |
|---|---|---|
| 114,792 - 563 415 153 165 3,460 26 300 7 300 - |
||
| 5,389 27,109 5,175 64,040 |
||
| 96,324 500 |
||
| 102,213 | ||
| 12,579 |
This page does not form part of the statutory financial statements
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