Charity registration no.. 1103481 New Shul Charitable Trust IN.S.C.T.I Trading As Kehilas Toras Chaim Annual Report and Unaudited Financial Statements For the Year Ended 31 August 2024
New Shul Charitable Trust IN.S.C.T.) I'the ChariW} Table of Contents Legal and Administrative Information Trustees, report Independent examinerfs report Statement of financial activities Statement of financial position Notes to the financial statements 8-12
New Shul Charitable Trust (N.S.C.T.) I'the Chariw) LEGAL AND ADMINISnlATIVE INFORMATION Trustees J Rees D Minsky A Morris Charity number: 1103481 Principal address: The New Hendon Bels Hamedrash Capital House Prestige Way London NW4 2EZ Independent examiner: Shaya Grosskopf FCA Ig Accountants Churchill House 137-139 Brent Street NW4 4DJ
New Shul Charitable Trust IN.S.C.T.l {'the Charitw) TRUSTEES. REPORT FOR THE YEAR ENDING 31 AUGUST 2024 The trustees present their report and financial statements for the year ended 31 August 2024. Objectives and activities The Charit$ objectives are to advance jewish education. Jewish religion, and other lawful charitable purposes. It does this by the provision and maintenance of a community centre and synagogue for the purpose of worship, conducting services and meetings, and the provision of educational facilities to provide for spiritual and religious needs. Activities are carried out in accordance with the principles of traditional Orthodox Jewish laws and practices and with applicable charitable law. The trustees have had due regard to Chartty Commission guidance on public benefit and lawful charitable purposes in deciding what activities the Charity should undertake. Achievements and performance During the year the synagogue operated daily to provide an Orthodox place of prayer. A religious educational programme consisting of a weekly roster of events and lectures was delivered, with extra events to mark significant moments. The charity also SUPPOrted other bodies with similar objects. During the year charitable grants of £15,650 12023- £23,843) were disbursed. The trustees are indebted to the ChariWs Rabbinical Team and committee of volunteers who together manage day to day activitie5 including organising prayer services and edutational events for adults and children. Financial review The Statement of Financial Activitie5 show5 a deficit of E45,821 for the year12023 Surplus of £5,358). E67012023.. £8101 of the expenditure in the year relates to depreciation, which is a non<ash expense. Unrestritted funds at 31 August 2024 were an accumulated deficit of £10.816 I2023= £35.005 accumulated surplus). It is the aim of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level between three and six months. expenditure. The trustees consider that re5erve5 at this level will ensure that, in the event of a significant drop in fundin& they will be able to continue the charitvs current activities while consideration is given to way5 in which additional fur)ds may be raised. Reserves have fallen below the trustees. target level, and the trustees are taking Steps to restore the position. The trustees haves a5se55ed the major risks to which the trust is exposed. and are satisfied that Systems are in place to mitigate exposure to the major risks. Structure. governance and management The trust was established by a charitable trust deed on 29 January 2004. The trustees who served during the year and up to the date of signature of the financial statements were: J Rees D Minsky A Morris Where the board of trustees perceive a need. new trustees are indurted by the board, and are provided with an indurtion briefing. The trustees. report was approved by the Board of Trustees. D Minsky Trustee Dated 11 June 2025
New Shul Charitable Trust IN.S.C.T.l {'the Charitw) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW SHUL CHARITABLE TRUST (N.S.C.T) I report to the trustees on my examination of the financial statements of New Shul Charitable Trust IN.S.C.T.l {'the Trust'} for the year ended 31 August 2024. Responsibilities and basic of report As the trustees of the Trust you are responsible for the preparation of the financial statements in accordance with requirements of the Charitie5 Act 20111'the 2011 Act'l. I report in respect of my examination of the Trust's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{51(b) of the 2011 Act. Independent examinerfs 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 that in any material respect.. accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act,. or the financial statements do not accord with those record- or the f inancial statements 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. Attention is drawn to the material uncertainty identified by the trustees concerning the going concern status of the charity disclosed in note 1.2. I have no other concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Shaya Grosskopf FCA Ig Accountants Chartered Accountants Churchill House 137-139 Brent Street NW4 4DJ 11 June 2025
New Shul Charitable Trust IN.S.C.T.l {'the Charity'l STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 AUGUST 2024 Restricted funds 2024 Unrestrirted funds 2024 Total funds Total Funds 2023 2024 Income from: Note Donations and legacies Investment income 7,838 258,663 266,501 286,896 265 265 132 Total Income 7,838 258,928 266,766 287,028 Ex enditure on: Charitable activities 7,838 304.749 312,587 281,670 Total Expense 7,838 304,749 312,587 281,670 Net Idefitit} / income for the year and net movement in funds {45.821} {45.821} 5.358 Fund balances at I September 2023 35,005 35,005 29,647 Fund accumulated (deficit)1 surplus at 31 August 2024 {10,816) (10,816) 35,005
New Shul Charitable Trust IN.S.C.T.l {'the Charitw) STATEMENT OF FINANCIAL POOSITION AS AT 31 AUGUST 2024 2024 2023 Note Fixed assets Tangible assets 2,008 2,426 Current assets Debtors Cash at bank and in hand 9,824 15,886 25.489 35,902 42,571 78,106 Creditors: amounts falling due within one year (38,534) 145,8941 Net current assets {10.816) 32.579 Total assets less current liabilities {10,816) 35,005 Funds of the charity Unrestrirted and total funds {10,816) 35,005 The financial statements were approved by the Trustees on 11 June 2025 p fy1,.4 D Minsky Trustee
New Shul Charitable Trust IN.S.C.T.l {'the Charitw) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 l. Accountlng policles Charity information New Shul Charitable Trust IN.S.C.T.} I'the Charity'} is an unincorporated charitable trust established by a trust deed on 29 January 2004. 1.1 Accounting convention The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless Otherwise stated in the relevant note to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in Ottober 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The charity has availed itself of the exemption for smaller entities from preparing a cashflow statement. 1.2 Going concern Although the trustees have prepared the accounts using the going concern presumption and consider it unlikely that the Charity will have to cease operations due to financial unviability, the trustees identified that the deficit in the year of £45,821 in the accounting year and the accumulated deficit of £11,455 as the year end give rise to a material uncertainty on the ability of the charity to continue as going concern. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. The charity has no restritted funds. being funds which are subject to specific conditions set by the donors as to how they may be applied. 1.4 Income Income is recognised when the trust is legally entitled to it. when the amount of income can be reliably evaluated, and it is probable that the income will be received. General donations and pledges are recognised on receipt. Membership subscriptions are recognised over the course of the membership year. Gift aid tax refundable 15 recognised at the time of the donation to which the refund pertains. 1.5 Expenditure Resources expended are included in the financial statements when incurred. Expenditure on charitable activities. Expenditure is allocated between direct expenditure on charitable activities, and expenditure on governance costs. Support costs are allocated between the costs based on an estimate of proportion of expenditure applicable to each.
New Shul Charitable Trust IN.S.C.T.l {'the Charity'l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST Z024 (continued) 2 Donations and legacies Restrirted funds 2024 Unrestrirted funds 2024 Total funds 2024 Total fund5 2023 Donations and legacies received 7.838 258.663 266.501 286.896 Restricted funds received represents grants from the Community SecurityTrust. a UK registered charity, which was designated to cover synagogue security costs. 3 Investment income Unrestricted and Total funds 2024 Total funds 2023 Bank interest 265 132 4 Expenditure on charitable activities 2024 Dirert charitable expenditure 2,094 2024 Allocated support costs 2024 Total 2023 Total Bad and doubtful debts Depreciation Bank charges Charitable expenditure Administrative expenditure Grants made Professional fees 2,094 1,950 670 670 987 267,596 810 1,063 227,881 987 267,596 5,428 5,428 6,583 19.300 19,300 17,985 314,060 23,843 19,540 281,670 17.985 24,400 289,660 Support costs have been allocated wholly to charitable expenditure reflecting the trustees, estimate of the application of these expenses. Grants totalling £10,650 {2023:£23.8431 were made to 512023.. 101 individual recipients and £8,650 {2023: nil) to 3 charities in the financial year for the purpose of the alleviation of poverty. Restricted charitable expenditure of £7,83812023- £3,701) related to expenditure on security costs.
New Shul Charitable Trust IN.S.C.T.l {'the Charity'l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) 5 Trustees During the year donations by the trustees to the Charity and expenses of the Charity paid for by the trustees and reimbursed or credited to them. excluding regular membership donations, were as follows- 2024 Donations Expenses reimbursed Total 5.516 312 2023 Donations Expenses reimbursed Total 7.403 Included in other creditors is an amount of £6,000 (2023: £2,000) advanced by Daniel Minsky. a trustee of the charity, to the charity. which is interest free and repayable upon demand. 6 Employees The average monthly number of employees during the year was as follows 2024 2023 Average monthly number of employees There were no employees whose annual remuneration was £60,000 or more. io
New Shul Charitable Trust IN.S.C.T.l {'the Charity'l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) 7 Tangible fixed assets Fixture5. fittings & equipment Total Cost At I September 2023 Additions At 31 August 2024 36.466 252 36,718 36,466 252 36,718 Depreciation At I September 2022 Depreciation charged in the year At 31 August 2024 34,040 670 34.710 34,040 670 34,710 Carrying amount At 31 August 2023 At 31 August 2024 2.426 2,C(18 2,426 2,008 8 Debtors 2024 2023 Trade debtors Other debtors Prepayments and accrued income 5,535 2,816 1.473 20,535 15,367 9,824 35,902 Trade debtors are stated after a provision for bad and doubtful debt of £23,25012023'. £21,157}. 9 Creditors: amounts falling due within one year 2024 2023 Trade creditor5 Other creditors Taxes and social security Accruals and deferred income 17.477 12.000 4,011 12.406 2,624 267 3,070 8,235 45,894 14,196 li
New Shul Charitable Trust IN.S.C.T.l {'the Charitw) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) 10 Operating leases The total of future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Land and buildin Not later than one year Between one year and five years 60,000 8.494 1,660 Operating lease expenditure in the year was £52,87312023: £44,932). 11 Independent examinerfs remuneration The independent examiner was not remunerated for his services in the current or prior year. 12