REGISTERED CHARITY NUMBER: 1103727
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
FOR
KOLLEL SHEFA CHAIM
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
KOLLEL SHEFA CHAIM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
| 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 | 9 |
KOLLEL SHEFA CHAIM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 October 2024. 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 Kollel Shefa Chaim is constituted by Trust Deed, and its objects are to provide general charitable donations and in particular for the relief of poverty and the advancement of religion and religious education.
The policy of Kollel Shefa Chaim continues to be derive its income from donations from various institutions and individuals and to make donations in accordance with the Trust's objects.
Public benefit
The trustee of the charity confirm that they have considered the Charity Commission's general guidance on public benefit and the requirements of s4 of the Charities Act 2011 in this area.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are pleased with the results of the charity's activities during the year. The unrestricted donations received during the year amounted to £147,055 (2023 - £74,574) and the trustees are delighted to report they were able to distribute £138,869 (2023 -£91,274) of funds as grants to individuals.
FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of fund to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions .
FUTURE PLANS
There are no current plans to change the activities or modus operandi in the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document a declaration of trust deed and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
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
1103727
Principal address
124 Stamford Hill London N16 6QT
Page 1
KOLLEL SHEFA CHAIM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024
Trustees
A S Lieber D Klein C Intrater
Independent Examiner
M A VENITT A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 11 December 2024 and signed on its behalf by:
A S Lieber - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KOLLEL SHEFA CHAIM
Independent examiner's report to the trustees of Kollel Shefa Chaim
I report to the charity trustees on my examination of the accounts of Kollel Shefa Chaim (the Trust) for the year ended 31 October 2024.
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
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
11 December 2024
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KOLLEL SHEFA CHAIM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024
| 31.10.24 | 31.10.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 147,054 | 74,574 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| GENERAL | |||
| 143,073 | 91,274 | ||
| Other | 876 | 778 | |
| Total | 143,949 | 92,052 | |
| NET INCOME/(EXPENDITURE) | 3,105 | (17,478) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 2,996 | 20,474 | |
| TOTAL FUNDS CARRIED FORWARD | 6,101 | 2,996 |
The notes form part of these financial statements
Page 4
KOLLEL SHEFA CHAIM
STATEMENT OF FINANCIAL POSITION 31 OCTOBER 2024
| 31.10.24 | 31.10.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 6,941 | 3,716 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (840) | (720) |
| NET CURRENT ASSETS | 6,101 | 2,996 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 6,101 | 2,996 | |
| NET ASSETS | 6,101 | 2,996 | |
| FUNDS | 6 | ||
| Unrestricted funds | 6,101 | 2,996 | |
| TOTAL FUNDS | 6,101 | 2,996 |
The financial statements were approved by the Board of Trustees and authorised for issue on 11 December 2024 and were signed on its behalf by:
A S Lieber - Trustee
The notes form part of these financial statements
Page 5
KOLLEL SHEFA CHAIM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
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.
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 - 33% on cost
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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.
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continued...
KOLLEL SHEFA CHAIM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 74,574 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| GENERAL | ||
| 91,274 | ||
| Other | 778 | |
| Total | 92,052 | |
| NET INCOME/(EXPENDITURE) | (17,478) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 20,474 | |
| TOTAL FUNDS CARRIED FORWARD | 2,996 | |
| 4. | TANGIBLE FIXED ASSETS | |
| Computer | ||
| equipment | ||
| £ | ||
| COST | ||
| At 1 November 2023 and 31 October 2024 | 1,000 | |
| DEPRECIATION | ||
| At 1 November 2023 and 31 October 2024 | 1,000 | |
| NET BOOK VALUE | ||
| At 31 October 2024 | - | |
| At 31 October 2023 | - |
continued...
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KOLLEL SHEFA CHAIM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 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 1.11.23 £ 2,996 2,996 Incoming resources £ 147,054 147,054 At 1.11.22 £ 20,474 20,474 |
31.10.24 31.10.23 £ £ 840 720 Net movement At in funds 31.10.24 £ £ 3,105 6,101 3,105 6,101 Resources Movement expended in funds £ £ (143,949) 3,105 (143,949) 3,105 Net movement At in funds 31.10.23 £ £ (17,478) 2,996 (17,478) 2,996 |
|---|---|---|
6. MOVEMENT IN FUNDS
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 74,574 | (92,052) | (17,478) |
| TOTAL FUNDS | 74,574 | (92,052) | (17,478) |
continued...
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KOLLEL SHEFA CHAIM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| At | movement | At | |
| 1.11.22 | in funds | 31.10.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 20,474 | (14,373) | 6,101 |
| TOTAL FUNDS | 20,474 | (14,373) | 6,101 |
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 £ 221,628 221,628 |
Resources Movement expended in funds £ £ (236,001) (14,373) (236,001) (14,373) |
Resources Movement expended in funds £ £ (236,001) (14,373) (236,001) (14,373) |
|---|---|---|---|
| (14,373) |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2024.
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