Kollel Skver Trust
Report and
Financial
Statements
For The Year Ended
31 March 2023 Charity Number 1087348
Kollel Skver Trust
| 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 Exmainer's Report | 9 |
Kollel Skver Trust
Trustees
Mr. Eluzer Hopstein Mr. NZ Hochhauser .
Administration Address
Kolel Skver Trust PO Box 44633 London N16 5WS
Charity Number 1087348
Accountants
C Rosen
Page 1
Kollel Skver Trust
Report of the Trustees
The Trustees present their annual report with accounts of the Charity for the Year Ended 31 March 2023.
Status and Administration
Kollel Skver Trust is constituted by trust deed, dated 7th February 2001 and is a Registered Charity.
Trustees
The Trustees in office throughout the year were: Mr. Eluzer Hopstein Mr. NZ Hochhauser
.
No trustee has any beneficial interest in the Charity and all gave their time voluntarily.
Page 2
Kollel Skver Trust
Report of the Trustees
Risk Assessment
The Charity has identified and assessed the major risks to which it is exposed, in particular those of safety and protection of the vulnerable young adults 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 for Child Protection, Health and Safety, Vulnerable Adults Policy and Financial Management and 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.
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b) Make judgements and estimates that are reasonable and prudent.
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c) Follow applicable accounting standards and the Charities SORP 2015, disclosing and explaining any departures in the financial statements.
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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. Approved by The Trustees of on 16 January 2024 and signed on behalf of them all.
Trustee Mr. Eluzer Hopstein
Page 3
Kollel Skver Trust
Statement Of Financial Activities
For The Year Ended 31 March 2023
| For The Year Ended 31 March 2023 |
|||
|---|---|---|---|
| Notes Unrestricted Restricted Funds Funds £ £ INCOMING RESOURCES Activities to further the Charity's Objects 2 149,946 0 Interest Income 0 0 Total Incoming Resources 149,946 0 Total Incoming Resources 149,946 0 RESOURCES EXPENDED Cost of Generating Funds 400 0 Net Incoming Resources Available For Charitable Application 149,546 0 Cost of Activities In Furtherance 3 of the Charity's Objects 137,240 0 Governance Costs 5 17,150 0 Total Charitable Expenditure 154,390 0 Total Resources Expended 3 154,790 0 Net Movement In Funds (4,844) 0 Transfer To / (From) Reserves 0 0 Net Reserves for the Year (4,844) 0 Total Funds 39,677 0 Total Funds 13 £ 34,833 £ 0 Carried Forward Brought Forward |
2023 2022 Total Funds Total Funds £ £ 149,946 208,606 0 0 149,946 208,606 149,946 208,606 400 2,090 149,546 206,516 137,240 148,080 17,150 37,239 154,390 185,319 154,790 187,409 (4,844) 21,197 0 0 (4,844) 21,197 39,677 18,480 £ 34,833 £ 39,677 |
||
| 208,606 2,090 206,516 148,080 37,239 185,319 187,409 |
|||
| 21,197 0 21,197 |
|||
| 18,480 39,677 |
Page 4
Kollel Skver Trust
Balance Sheet at 31 March 2023
| Notes Fixed Assets Tangible Assets 7 Current Assets Debtors 9 Cash at Bank and in Hand Creditors :Amounts falling due within one year 10 Net Current Assets Total Assets less Current Liabilities Creditors :Amounts falling due after more than one year 11 Net Assets 12 Unrestricted Funds 13 Total Funds |
2023 £ 1,465 1,465 66,918 19,318 86,236 (2,868) 83,368 84,833 (50,000) £ 34,833 34,833 £ 34,833 |
2022 £ 1,954 1,954 50,999 39,350 90,349 (2,626) 87,723 89,677 (50,000) |
2022 £ 1,954 1,954 50,999 39,350 90,349 (2,626) 87,723 89,677 (50,000) |
|---|---|---|---|
| £ | 39,677 | ||
| £ | £ | 39,677 | |
| 39,677 |
Approved by the Trustees on 16 January 2024, and signed on behalf of them all.
Mr. Eluzer Hopstein Trustee
The notes on pages 6 to 8 form part of these accounts.
Page 5
Kollel Skver Trust
Notes To The Accounts - 31 March 2023
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.
Tangible Fixed Assets
Depreciation is provided after taking into account of any grants receivable at the following annual rates in order to write off each asset over its estimated useful life:
Office Equipment
25% on net book value
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 | Total | |||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| **2) ** | Incoming Funds | ||||
| Donations Received | 149,946 | 149,946 | 208,606 | ||
| Total Income Generated | £ 149,946 | £ 0 | £ 149,946 | £ 208,606 |
Page 6
Kollel Skver Trust
Notes To The Accounts - 31 March 2023
| Unrestricted Restricted 3) Analysis of Total Resources Expended Funds Funds Charitable Activities Cost of Activities In Furtherance of the Charity's Objects Religious Studies 137,240 0 Gifts to Donors 0 0 Total 137,240 0 Total Cost of Activities In Furtherance of the Charity's Objects £ 137,240 £ 0 4) Cost of Generating Funds 5) Governance Costs Accountancy Advertising Bank Charges Depreciation Interest Expense Motor and Travel Printing, Postage and Stationery and Telephone Refreshments Rent Office Expenses Telephone Charitable Activities |
Total Total 2023 2022 £ £ 137,240 147,810 0 270 137,240 148,080 £ 137,240 £ 148,080 £ 400 £ 2,090 0 0 12,717 14,183 459 1,881 489 651 0 0 638 767 1,834 8,141 0 0 0 8,450 1,013 1,694 0 1,472 £ 17,150 £ 37,239 |
|---|---|
6) Taxation
The Charity is exempt from taxation on its charitable activities.
7) Tangible Fixed Assets
| Motor | Motor | Office Total |
Office Total |
Office Total |
Office Total |
Alarm | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Car | Equipment | Equipment | |||||||||
| Cost or | valuation | £ | £ | £ | £ | £ | |||||
| At | 31 March 2022 | 0 | 4,630 | 4,630 | 0 | 0 | |||||
| Additions | 0 | 0 | 0 | ||||||||
| Disposals | 0 | 0 | 0 | 0 | 0 | ||||||
| At | 31 March 2023 | 0 | 4,630 | 4,630 | 0 | 0 | |||||
| Depreciation | |||||||||||
| At | 31 March 2022 | 0 | 2,676 | 2,676 | 0 | 0 | |||||
| Charge for the year | 0 | 489 | 489 | 0 | 0 | ||||||
| At | 31 March 2023 | 0 | 3,165 | 3,165 | 0 | 0 | |||||
| Valuation | |||||||||||
| 31 March 2023 | £ | 0 | £1,465 | £ | 1,465 | £ 0 | £ 0 | ||||
| 31 March 2022 | £ | 0 | £1,954 | £ | 1,954 | £ 0 | £ 0 | ||||
| The Fixed Assets were | Purchased with the use of Restricted | Funds. |
- 8) The average number of Employees during the year, on a full time equiva basis was
2023 2022 2 2
No Employee was paid above £60,000 per year.
Page 7
Kollel Skver Trust Notes To The Accounts - 31 March 2023
| 9) Debtors | 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||||
| Trade Debtors | 34,969 | 43,624 | ||||||||
| Accruals and Pre payments | 0 | 0 | ||||||||
| Other Debtors | 31,949 | 7,375 | ||||||||
| Tax Refundable | 0 | 0 | ||||||||
| £ 66,918 | £ 50,999 | |||||||||
| 10) Creditors: Amounts falling due within | one year | |||||||||
| 2023 | 2022 | |||||||||
| £ | £ | |||||||||
| Bank Loans and Overdrafts | 0 | 0 | ||||||||
| Debt due within one year | 0 | 0 | ||||||||
| Trade Creditors | 2,868 | 2,626 | ||||||||
| Other Creditors | 0 | 0 | ||||||||
| £ 2,868 | £ 2,626 | |||||||||
| 11) Creditors: Amounts falling due after more than | one year | |||||||||
| 2023 | 2022 | |||||||||
| £ | £ | |||||||||
| Bank Loans and Overdrafts | 50,000 | 50,000 | ||||||||
| Debt due after more than one year | £ | 50,000 | £ 50,000 | |||||||
| 12) Net Assets of The Charity's Funds | ||||||||||
| Net | ||||||||||
| Fixed | Current | Long Term | Fund | |||||||
| Assets | Assets | Liabilities | Balances | |||||||
| £ | £ | £ | £ | |||||||
| Restricted Funds | 1,465 | 0 | 0 | 1,465 | ||||||
| Unrestricted Funds | 0 | 33,368 | (50,000) | (16,632) | ||||||
| Total Funds | £ 1,465 | £ | 33,368 | £(50,000) | £(15,167) | |||||
| 13) Unrestricted Funds | : Movements In | The Year | ||||||||
| Balance at | Transfer To | Balance at | ||||||||
| 31 March 2022 | Income | Expended | /(From) | 31 March | 2023 | |||||
| £ | £ | £ | Reserves | £ | ||||||
| General Reserve 39,677 |
149,946 | 154,790 | 0 | 34,833 | ||||||
| Total Funds £ 39,677 |
£ 149,946 | £ 154,790 | £ | 0 | £ 34,833 |
14) 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
Accountants Report to the Trustees on the Unaudited Accounts of the Charity Kollel Skver Trust For the Year Ended 31 March 2023
We report on the financial statements of Kollel Skver Trufor the Year Ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and the 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 Examiner
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 145 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 249 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,
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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
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b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date 16 January 2024
Independent Exmainer
C Rosen
Page 9