**REGISTERED CHARITY NUMBER: 1097875**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **FOR**
## **BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
**BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Trustees' Responsibility Statement**||3||
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Statement of Financial Position**||6||
|**Notes to the Financial Statements**|7|to|12|
## **BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
The trustees present their report with the financial statements of the charity for the year ended 30 June 2021. 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 was registered on 9 June 2003.
The principal objectives of the charity are:
- -The advancement of religion in accordance with the Orthodox Jewish Faith
- -The relief of poverty, and
- -Any other activities recognised by English Law as charitable.
There have been no changes in the objectives since the last annual report.
## **Public benefit**
The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aims and objectives and planning future activities and setting the grant making policy for the year.
The charity was set up to support the activities of religious Jewish organisations especially in the field of education. The trustees identify institutions and organisations which meet its criteria and regularly support a number of these institutions and organisations, which themselves are growing not only in England but also worldwide.
The charity is also supportive of organisations which are solely committed to the relief of poverty. Such organisations assist needy Jewish families financially and also through the distribution of basic necessities.
The income of the charity is derived from investments and donations. The trustees continued their support of those organisations deemed to promote the objects of this charity.
## **Grantmaking**
The charity accepts applications for grants from representatives of various charities, which are reviewed by the trustees on a regular basis.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year under review, the charity received donations totalling £311,910 (2020: £114,790) and made donations and grants totalling £223,912 (2020: £101,544) in line with its charitable objectives.
## **Investment performance**
The charity's investment income of £43,501 (2020: £50,818) reflects the rental income received from investment properties held by the charity. The associated expenses of managing the investment properties are reflected in note 3.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The charity generates its income from investment property and donation from companies associated with the trustees.
## **Reserves policy**
The charity maintains unrestricted free reserve at a level adequate to meet its short term operational obligation.
Page 1
**BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **FINANCIAL REVIEW**
## **Going concern**
The trustees believe that the charity has enough resources to continue for in foreseeable future.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
The charity does not currently intend to recruit any new trustees. Should this status change in the future, the trustees will adopt a suitable policy to recruit and train new trustees.
## **Related parties**
Related party transaction and balance detail are disclosed in notes to the financial statement.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
1097875
## **Principal address**
4 Cazenove Road London N16 6BD
## **Trustees**
J Fekete I Krausz (resigned 31.7.21) S Eisner (resigned 13.7.21) M Benedikt (appointed 13.7.21) C A HONIG (appointed 13.7.21)
## **Independent Examiner**
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 25 April 2022 and signed on its behalf by:
J Fekete - Trustee
Page 2
## **BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **TRUSTEES' RESPONSIBILITY STATEMENT FOR THE YEAR ENDED 30 JUNE 2021**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **Independent examiner's report to the trustees of Beis Hamedrash PE'ER Meshulem D'Tosh**
I report to the charity trustees on my examination of the accounts of Beis Hamedrash PE'ER Meshulem D'Tosh (the Trust) for the year ended 30 June 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of A.C.A which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
M. A. Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
25 April 2022
Page 4
## **BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021**
|30.6.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
311,910
Investment income
2
43,501
**Total**
355,411
**EXPENDITURE ON**
Raising funds
3
22,058
**Charitable activities**
Charitable
223,912
Other
1,358
**Total**
247,328
**NET INCOME**
108,083
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
696,060
**TOTAL FUNDS CARRIED FORWARD**
804,143|30.6.20
Total
funds
£
114,790
50,818|
|---|---|
||165,608
13,068
101,544
1,511|
||116,123|
||49,485
646,575|
||696,060|
The notes form part of these financial statements
Page 5
## **BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **STATEMENT OF FINANCIAL POSITION 30 JUNE 2021**
|Notes
**FIXED ASSETS**
Tangible assets
6
Investment property
7
**CURRENT ASSETS**
Debtors
8
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|30.6.21
Unrestricted
fund
£
120,583
248,025
368,608
333,393
141,312
474,705
(39,170)
435,535
804,143
804,143
804,143
804,143|30.6.20
Total
funds
£
141,861
248,025
389,886
315,013
29,037
344,050
(37,876)
306,174
696,060
696,060
696,060
696,060|
|---|---|---|
The financial statements were approved and authorized for issue by the Board of Trustees and authorised for issue on 25 April 2022 and were signed on its behalf by:
J Fekete - Trustee
The notes form part of these financial statements
Page 6
**BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
## **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.
Improvements to property - 15% on reducing balance Fixtures and fittings - 15% on reducing balance
## **Taxation**
The charity is exempt from 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.
continued...
Page 7
**BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||30.6.21|30.6.20|
||£|£|
|Rents received|43,501|50,818|
|**RAISING FUNDS**|||
|**Investment management costs**|||
||30.6.21|30.6.20|
||£|£|
|Insurance|1,164|799|
|Light and heat|4,221|7,826|
|Repairs and renewals|5,691|935|
|Commission paid|3,045|2,962|
|Rates and water|560|546|
|Function expenses|7,377|-|
||22,058|13,068|
## **3. RAISING FUNDS**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|114,790|
|Investment income|50,818|
|**Total**|165,608|
|**EXPENDITURE ON**||
|Raising funds|13,068|
|**Charitable activities**||
|Charitable|101,544|
|Other|1,511|
|**Total**|116,123|
|**NET INCOME**|49,485|
continued...
Page 8
**BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**6.**
**TANGIBLE FIXED ASSETS**
Improvements
to
property
£
**COST**
At 1 July 2020 and 30 June 2021
158,712
**DEPRECIATION**
At 1 July 2020
41,340
Charge for year
17,605
At 30 June 2021
58,945
**NET BOOK VALUE**
At 30 June 2021
99,767
At 30 June 2020
117,372
**7.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 July 2020
and 30 June 2021
**NET BOOK VALUE**
At 30 June 2021
At 30 June 2020|Unrestricted
fund
£
646,575
696,060
Fixtures
and
fittings
Totals
£
£
33,895
192,607
9,406
50,746
3,673
21,278
13,079
72,024
20,816
120,583
24,489
141,861
£
248,025
248,025
248,025|
|---|---|
The fair value of Investment property was assessed to be unchanged by the trustees.
continued...
Page 9
## **BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
|**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|
At 1.7.20
£
696,060
696,060
Incoming
resources
£
355,411
355,411
At 1.7.19
£
646,575
646,575|30.6.21
30.6.20
£
£
18,380
-
315,013
315,013
333,393
315,013
30.6.21
30.6.20
£
£
39,170
37,876
Net
movement
At
in funds
30.6.21
£
£
108,083
804,143
108,083
804,143
Resources
Movement
expended
in funds
£
£
(247,328)
108,083
(247,328)
108,083
Net
movement
At
in funds
30.6.20
£
£
49,485
696,060
49,485
696,060|30.6.20
£
-
315,013|
|---|---|---|---|
||||315,013|
||||30.6.20
£
37,876
At
30.6.21
£
804,143|
||||804,143|
||||108,083|
||||At
30.6.20
£
696,060|
||||696,060|
continued...
Page 10
**BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
165,608
**TOTAL FUNDS**
165,608
A current year 12 months and prior year 12 months combined position is as follows:
At 1.7.19
£
**Unrestricted funds**
General fund
646,575
**TOTAL FUNDS**
646,575|Resources
Movement
expended
in funds
£
£
(116,123)
49,485
(116,123)
49,485
Net
movement
At
in funds
30.6.21
£
£
157,568
804,143
157,568
804,143|Resources
Movement
expended
in funds
£
£
(116,123)
49,485
(116,123)
49,485
Net
movement
At
in funds
30.6.21
£
£
157,568
804,143
157,568
804,143|
|---|---|---|
|||49,485|
|||At
30.6.21
£
804,143|
|||804,143|
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
£
521,019
521,019|Resources
Movement
expended
in funds
£
£
(363,451)
157,568
(363,451)
157,568|Resources
Movement
expended
in funds
£
£
(363,451)
157,568
(363,451)
157,568|
|---|---|---|---|
||||157,568|
continued...
Page 11
**BEIS HAMEDRASH PE'ER MESHULEM D'TOSH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 June 2021.
Page 12