**REGISTERED CHARITY NUMBER: 1103911**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **FOR**
## **YESODEY HATORAH TRUST**
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
**YESODEY HATORAH TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS**
## **for the year ended 5 April 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Statement of Financial Activities**||3||
|**Balance Sheet**||4||
|**Notes to the Financial Statements**|5|to|10|
**YESODEY HATORAH TRUST**
## **REPORT OF THE TRUSTEES for the year ended 5 April 2021**
The trustees present their report with the financial statements of the charity for the year ended 5 April 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**
Makes grants to organisations, provides human resources, buildings, facilities and open space to the children/young people, people of a particular ethnic or racial origin providing education, training and relief of poverty.
## **Public benefit**
The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
## **Grantmaking**
Grants are made to charitable institutions and organisations which accord with objects of the Charity.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from contributions received from donors.
## **Covid-19**
The Covid 19 pandemic which has had a significant social and economic impact on communities worldwide, resulted in an increased demand for assistance. The trustees adapted their activities to comply with government’s policies and guidance and were able to raise significant additional funds to enable them to continue their work.
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from contributions received from donors.
## **FINANCIAL REVIEW**
## **Financial position**
The financial results for the year to 5 April 2021 are shown in the attached financial statements. Total income decreased from £151,028 to £89,961 and total expenditure increased from £165,729 to £288,499 in comparison with the previous period.
There was a net decrease in funds of £198,538 (2020 - decrease of £14,701) with total funds carried forward of £12,162,889 (2020 - £12,361,427).
## **Reserves policy**
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
## **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 trustees have no beneficial interest in the company as it is a company limited by guarantee and are chosen by agreement of trustees at an annual meeting. The choice is based on applicants' business and community knowledge.
New trustees are subject to trustee induction training which includes as understanding of the content of the Memorandum and Articles of Association, their legal obligations under Charity Act and Company Law, the organisational structure of charity and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events which enhance their knowledge and skill thereby improving the performance of their role.
Page 1
**YESODEY HATORAH TRUST**
## **REPORT OF THE TRUSTEES for the year ended 5 April 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **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**
1103911
## **Principal address**
Yesodey Hatorah Secondary Girls School Egerton Road London N16 6UB
## **Trustees**
S S Sinitsky Trustee R Schiffer Trustee Rabbi C Pinter Trustee (appointed 14.5.20)
Approved by order of the board of trustees on 26 January 2022 and signed on its behalf by:
Rabbi C Pinter - Trustee
Page 2
**YESODEY HATORAH TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 5 April 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
3
Relief of poverty, advancement of education
Support costs
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
89,950
11
89,961
283,000
1,659
284,659
(194,698)
392,704
198,006|Restricted
fund
£
-
-
-
3,840
-
3,840
(3,840)
11,968,723
11,964,883|2021
Total
funds
£
89,950
11
89,961
286,840
1,659
288,499
(198,538)
12,361,427
12,162,889|2020
Total
funds
£
150,642
386
151,028
165,465
264
165,729
(14,701)
12,376,128
12,361,427|
|---|---|---|---|---|
The notes form part of these financial statements
Page 3
## **YESODEY HATORAH TRUST**
## **BALANCE SHEET**
## **5 April 2021**
|Notes
**FIXED ASSETS**
Tangible assets
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
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
140,276
-
179,631
179,631
(121,901)
57,730
198,006
198,006|Restricted
fund
£
12,515,626
-
(1,000)
(1,000)
(549,743)
(550,743)
11,964,883
11,964,883|2021
Total
funds
£
12,655,902
-
178,631
178,631
(671,644)
(493,013)
12,162,889
12,162,889
198,006
11,964,883
12,162,889|2020
Total
funds
£
12,658,742
51,000
321,829
372,829
(670,144)
(297,315)
12,361,427
12,361,427
392,704
11,968,723
12,361,427|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 January 2022 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 4
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 5 April 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.
## **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.
## **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. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||2021|2020|
||£|£|
|Deposit account interest|11|386|
Page 5
continued...
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2021**
## **3. CHARITABLE ACTIVITIES COSTS**
|Relief of poverty, advancement of
education
Support costs
**4.**
**GRANTS PAYABLE**
Relief of poverty, advancement of education
The total grants paid to institutions during the year w
Mifal Hachesed Vehatzedokoh
One Heart Lev Echod
Merkaz Hatorah Limited
Friends of Beis Chinuch Lebonos Trust
Yesodey Hatorah Senior Girls School
Yesodey Hatorah Boys School
Other grants less than £20,000|Direct
Costs
£
3,840
-
3,840
as as follows:|Grant
funding of
activities
(see note
4)
£
283,000
-
283,000|Support
costs
£
-
1,659
1,659
2021
£
283,000
2021
£
20,000
20,000
20,000
20,000
100,000
88,500
14,500
283,000|Totals
£
286,840
1,659|
|---|---|---|---|---|
|||||288,499|
|||||2020
£
160,000|
|||||2020
£
-
-
-
-
135,000
25,000
-|
|||||160,000|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2021 nor for the year ended 5 April 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2021 nor for the year ended 5 April 2020.
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Relief of poverty, advancement of education|Unrestricted
fund
£
150,642
386
151,028
165,465|Restricted
fund
£
-
-
-
-|Total
funds
£
150,642
386|
|---|---|---|---|
||||151,028
165,465|
Page 6
continued...
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2021**
|**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
fund
fund
£
£
Support costs
264
-
**Total**
165,729
-
**NET INCOME/(EXPENDITURE)**
(14,701)
-
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
407,405
11,968,723
**TOTAL FUNDS CARRIED FORWARD**
392,704
11,968,723
**7.**
**TANGIBLE FIXED ASSETS**
Fixtures
Freehold
and
property
fittings
£
£
**COST**
At 6 April 2020
12,644,182
877,960
Additions
-
1,000
At 5 April 2021
12,644,182
878,960
**DEPRECIATION**
At 6 April 2020
-
863,400
Charge for year
-
3,840
At 5 April 2021
-
867,240
**NET BOOK VALUE**
At 5 April 2021
12,644,182
11,720
At 5 April 2020
12,644,182
14,560
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2021
£
Other debtors
-|**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
fund
fund
£
£
Support costs
264
-
**Total**
165,729
-
**NET INCOME/(EXPENDITURE)**
(14,701)
-
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
407,405
11,968,723
**TOTAL FUNDS CARRIED FORWARD**
392,704
11,968,723
**7.**
**TANGIBLE FIXED ASSETS**
Fixtures
Freehold
and
property
fittings
£
£
**COST**
At 6 April 2020
12,644,182
877,960
Additions
-
1,000
At 5 April 2021
12,644,182
878,960
**DEPRECIATION**
At 6 April 2020
-
863,400
Charge for year
-
3,840
At 5 April 2021
-
867,240
**NET BOOK VALUE**
At 5 April 2021
12,644,182
11,720
At 5 April 2020
12,644,182
14,560
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2021
£
Other debtors
-|Total
funds
£
264
165,729
(14,701)
12,376,128
12,361,427
Totals
£
13,522,142
1,000
13,523,142
863,400
3,840
867,240
12,655,902
12,658,742
2020
£
51,000|
|---|---|---|
||||
||||
||||
||||
||||
||||
continued...
Page 7
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2021**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 6.4.20
£
392,704
11,968,723
12,361,427
Incoming
resources
£
89,961
-
89,961
At 6.4.19
£
407,405
11,968,723
12,376,128||2021
£
671,644
Net
movement
in funds
£
(194,698)
(3,840)
(198,538)
Resources
expended
£
(284,659)
(3,840)
(288,499)
Net
movement
in funds
£
(14,701)
-
(14,701)|2020
£
670,144
At
5.4.21
£
198,006
11,964,883
12,162,889
Movement
in funds
£
(194,698)
(3,840)
(198,538)
At
5.4.20
£
392,704
11,968,723
12,361,427|
|---|---|---|---|---|
||||||
||||||
||||||
continued...
Page 8
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2021**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
151,028
151,028|Resources
Movement
expended
in funds
£
£
(165,729)
(14,701)
(165,729)
(14,701)|Resources
Movement
expended
in funds
£
£
(165,729)
(14,701)
(165,729)
(14,701)|
|---|---|---|---|
||||(14,701)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 6.4.19
£
407,405
11,968,723
12,376,128|Net
movement
in funds
£
(209,399)
(3,840)
(213,239)|At
5.4.21
£
198,006
11,964,883|
|---|---|---|---|
||||12,162,889|
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
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
240,989
-
240,989|Resources
Movement
expended
in funds
£
£
(450,388)
(209,399)
(3,840)
(3,840)
(454,228)
(213,239)|Resources
Movement
expended
in funds
£
£
(450,388)
(209,399)
(3,840)
(3,840)
(454,228)
(213,239)|
|---|---|---|---|
||||(213,239)|
## **Building maintenance fund**
This represents funds for the cost, improvement, upkeep and maintenance of the buildings.
continued...
Page 9
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2021**
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 5 April 2021.
Page 10