Charlty registration number 1094268 (England and Wales) Company reglstration number 04528502 SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2024
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustoes S E Elias K J Black C Glaskie Charity number (England and Wales) 1094268 Company number 04528502 Prfnelpal address 2nd Floor 1 Ashley Road Altrincham WA14 2DT Regl#tor•d offlce 2nd Floor 1 Ashley Road Altrincham WA14 2DT Independent oxamlner Lopian Gross Barnett & Co 1 st Floor, Cloister Hous8 Riverside New Bailey Street Manchester M3 5FS
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED CONTENTS Page Trustees report Independent examinerfs report Statement of flnancial actlvltles Balance sheet Notes to the financial statements 6-12
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 5 APRIL 2024 The trust88s present their annual report and financial statements for the year ended 5 April 2024. The accounts hav8 been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charitias Act 2011, charity's Articles of A550ciation, the Companies Acl 2006 and the statement of Recommend8d Practice to charities preparlng their accounts in accordance with the Financial Reporting Standard for Smaller Entities. Objectlves and actlvitles The Charity's purposes as set out in the Memorandum of Association are to benefit the public by the advancement of education and religious welfare of the Jewish students based in South Manchester, including the provision of Kosher food facilities and a place of worship. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Company's fund5 for distribution in accordance with its objectives are used for the student centre al the Synagogue on Wilbraham Road, Manchester, currently providing a centre for Jewish activities. It is hoped that accommodation will follow during the next phase of development of the site. The Trustees do not int8nd to make any specific grants. Inst8ad, any shortfalls in the money received from the students in respect of the services provided will be made up from the Company's reserve5. Achlevernents and parformance The Company ha5 continued to provide a centre for Jewish activities for students at Wilbraham Road, Manchester,. induding the provision of worship space, Kosher food, studying and social facilities. Financlal revlew The total of incoming resources was £50,000 from charitable donations which left a net deficit of £21,042 after charitable activity expenditure of £68,021 and governance costs of £3,021 for the year, The Trustees, reserves policy is to utilise income as it arises keeping surpluses in reserve for malor expenses, as and when Circumstances arise. At the balance sheet date, reserves (all unrestricted) amounted to £6,172 (2023 - £27,214). Structure, governance and management The charity is a company limited by guarantee and has no shar8 capital. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signatur8 of the financial statements were: S E Elias K J Black C Glaskie Appointment of other Trustees is at the discretion of the existing Trustees. Trustee S E Elias has been delegated the day to day management of the company. The charity achieves Its objectives of the provision of facilities (including Kosher food) and a place of worship at the Synagogue that is maintained by the Wilbraham Road {Manche5ter} Trust Limited a charitable Gompany that has Some trustees in Gommon with South Manchester Jewish Student Trust Limited.
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED TRUSTEES REPORT {CONTINUEDI(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 5 APRIL 2024 Tha trustees report wa8 approved by the Boar(l of Truslèa8. The Twslèas have as8e8sed th8 major rl8k8 10 whlch th6 Company Is exposèd and are satlsfled that systems aré In plac6 to millgate axposur8 to tho m8lor risk8. S E E11&5 'ri'ublo¢) D¢il(.Id'.
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED I report to the trustees on my examination of the financial statements of South Manch8Ster Jewish Student Trust Limited (the charity) for the year 8nd8d 5 April 2024. Responslbllltlas and basis of report As the trustees of the charity land also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statement5 Garried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charily Commission under sgction 14515)Ibl of the Charities Act 2011. Independent examlner's statement I have Gompleted my examination. I confirm that no matters have come to my attention In connection wlth Ihe examination giving me cause to believe that in any material respect: accounting record5 were not kept in respect of the charity as required by section 386 of the Companies Act 2006. the financial Statements do not accord with those records; or the financial statements do not comply with the accounting requirements of sectlon 396 of th8 Compani8s Act 2006 other than any requirement that the financlal statements giva a true and fair view, which is nol a matter considered as part of an independent examination; or the financial statements 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir81and (FRS 102). I have no concerns and have come across no other matters in connection with the examlnation to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Jason Selig IBAACA CTA DChA) Loplan Gross Barnett & Co 1 st Floor, Clolster House Riverside New Bailey Street Manchester M3 5FS Dated.. 5 February 2025
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted funds 2024 Unrestrlcted funds 2023 Notes Income from: Donations and legacies 50,000 70,000 Total Income 50,000 70,000 Expenditure on: Charitable activities 71,042 59,761 Total oxpondlture 71,042 59.761 Net Incomellexpendlture) and movement In funds 121,042) 10,239 Roconclllatlon of funds: Fund balances at 6 April 2023 27,214 16,975 Fund balances at 5 Aprll 2024 6,172 27,214 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activitie8.
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED BALANCE SHEET ASAT5APRIL 2024 2024 2023 Notes Flxéd assets Tangibla a8S8Is 10 82 110 Curront assets Debtors Cash al bank and In hand 11 2,132 21,645 1,726 47,725 23,777 49,451 Credltors: amounts falllng duè wlthln on6 yèar 12 117.e871 {22,3471 Not currènt asséts 6,090 27,104 Toto1888gts18ss current Ilablllt1è8 6,172 27,214 The funds of the charlty Unroslrlcied funds 13 6,172 27.214 6,172 27.214 The company Is enllll8d lo tha exempllon from the audit requlremenl conlabncd in seGllon 477 of the Comp8nles Act 2006, for Ihe year ended fJ Aprll 2024. The dlr8clor8 dckiii)wli:d!IE> Ili¢)ir msi)01)slblllll88 lor complying wllh the requlremenls ol the Companles ALI 2006 wllh r8spvcI Iii ¢icr.oiinlliiti r(4f:ords riiid Iho preparallon of flnanolal sl8lt)monl8. The memb8rs have not required the company lo obtain an audll of Sls Ilnandal 51alemenls for the year In quesllon In accordance wllh sectlon 476. These financlal sl818ments have bean prep8red In accordance wllh thu provlslons appllc8ble lo companies sublacl lo Ihe small companles reglme. Tho fin8nGial $talemenis were approved by the Iruslee.8 on S L Eliab Trustee Company regislrallon number 04528502 {England and Wales)
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting pollcles Charlty Inforniatlon South Manchester Jewish Student Trust Limited is a private company limited by guarant88 incorporated in England and Wales. The registered offic8 is 2nd Floor, 1 Ash18y Road, Altrincham, WA14 2DT. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charity's Memorandum and Articles, the Companies Act 2006 and "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)" The charity is a Public Benefit Entity as d8fined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. which is the functional currency of the charlty. Monetary amounts in these financial statements are rounded to the nearest £. The financial staternents have been prepared under the historical cost convention. The princlpal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial staternents, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of thelr charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted fund5 are set out in Ihe noles to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Incomlng resources Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performan conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (Continued) 1.5 Resources expended Expenditure is recogni5ed once there is a legal or constructive obligation to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activllies on a basis consistent with th8 use of resources. C8ntral staff costs are allocated on the basis of time spent, and d8pr8ciation charges are allocated on the portion of the asset's use. Expenditure is recognised on an accruals basis as a liability is incurred. Charitable aclivily expenditure are costs incurred by the charity and in the delivery of Its activities and servlces. Governance costs comprise all costs involving the public accountability of the charity and its compllance with regulation and good practice. Charitable distributions represent donations paid to religious, educational and similar charities. There were no distributions during the year as further expenditure is to be incurred on the property. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreaation and any impairment losses. Depreciation is recognised so as to write off the cost or valuatlon of assets less their residual values over thelr useful lives on the following bases.. Fixtures, tlttings & equipment 25./0 reducing balance The gain or loss arising on the disposal of an asset is determined as the difference bebNeen the sale proceeds and the carrying value of the asset, and 15 recognised in the statement of financial activities. 1.7 Impalrnient of fixed assets At each reporting end date, the charity reviews the carying amounts of its tangible assets to detennine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid investmènts with original maturities of thr88 months or less, and bank ovérdrafts. Bank overdrafts are shown within borrowings in current liabilities.
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting pollcies {Contlnued) 1.9 Financlal Instruments The Gharity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Finanaal assets and liabillties are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise th8 asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the 8ffecllve intèrest method unless the arrangement constitutes a financing transaction, where the transaction is measurèd at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interesl. Financial liabilities classified as payable within one year are not amortised. Trade credilors are obligations to pay for goods or Services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as cuent liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon ol flnancial liabllltles Financial Ilabilities are derecognlsed when the charity's contractual obligatlons expire or are dlscharged or cancelled, 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the 8mployee's services are received. T8rminalion benefits are r8cognised immediately as an expense when th8 charity 15 demonstrably committed to temiinate the employment of an employee or to provide termination benefits. 1.11 Reserves The total reverse5 included in the accounts are all unrestricted. 1.12 Taxatlon The activities of South Manchester Jewish Student Trust Limited are exempt from taxation under Part 11 of the Corporation Tax Acl 2010 definition of a charity for tax purpose5.
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Crltlcal accounting estlmates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparenl from other sourc8s. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 8Stimates. The estimate5 and underlying assumptions are revlewed on an ongoing basis. Revlsions to accounting estirnates are r8cognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacies Unrnstrlcted funds 2024 Unrestrfcted funds 2023 Donations and gifts 50,000 70,000 All donations received in the year had no attached conditions. Charitable actlvltles Charitable Charltable Expenditure Expendllure 2024 2023 Staff costs Depreciation and impairm8nt Charitable expendlture 8.404 28 59.589 4,188 37 51,503 68,021 55,728 Share of governance costs (see note 5> 3,021 4,033 71,042 59,761 Support costs allocated to actlvltles 2024 2023 Governance costs 3,021 4.033 Analysed between: Charitable activities 3,021 4,033
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Support costs allocated to activities {Contlnued) 2024 2023 Governance costs comprlsa: Bank charges Independent examination l accountancy fees 21 3,000 13 4,020 3,021 4,033 Net movament In funds 2024 2023 The net movement in funds is stated after chargingl(crediting): Fees payable for the independent examination of the charitls flnancial statements Depreciation of owned tangible flxed assets 3,000 28 4,020 37 Trustee• None of the trustees lor any persons connected with them) received any rernuneration or benefits from the charity during the year. None of the trustees (or any persons connected with them) received any reimbursement of expenses from the charity during the year. Employoe8 The average monthly number of employees during the year was: 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries 8,404 4,188 There were no 8mployees whose annual remuneratlon was more than £60,000. Taxatlon The charity is exempt from taxation on its activities beuse all its incom8 is applied for charitabl8 purposes. 10-
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 10 Tangible flxed assets Flxtures. flttlngs & •qulpm•nt Cost At 6 April 2023 8.635 At 5 April 2024 8,635 Depreciatlon and Impalrment At 6 April 2023 Depreciation charged in the year 8,525 28 At 5 April 2024 8,553 Carrylng amount At 5 April 2024 82 At 5 April 2023 110 11 Debtors 2024 2023 Amounts falling due wlthin one year: Prepayments and accrued income 2,132 1,726 12 Crndltors: amounts falllng duo wlthln one y•ar 2024 2023 Other taxation and social security Trade cxeditors Other creditors Accruals and deferred income 63 2,507 11,907 3,210 9,563 9,295 3,489 17,687 22,347 13 Unrestrlctod funds These are unrestricted funds which are material to the charity's activities made up as follows-. At 6 Aprll 2023 Incoming resources Resources expended At 5 April 2024 General funds 27,214 50.000 171,042) 6,172 11
SOUTH MANCHESTER JEWISH STUDENT TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 13 Unrestricted fund5 Icontlnued) Prevlous year: At 6 Aprll 2022 Incomlng resources Resources expended At 5 Aprfl 2023 General funds 16.975 70,000 {59.761) 27,214 14 Related party transactlons There were no dlsdosable related party transactions during the year (2023 - none), other than those already disclosed in the accounts. 12-