**REGISTERED CHARITY NUMBER: 1103911**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
## **FOR**
## **YESODEY HATORAH TRUST**
Raffingers Holdings Limited Chartered 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 2025**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
**YESODEY HATORAH TRUST**
## **REPORT OF THE TRUSTEES for the year ended 5 April 2025**
The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. 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 objects of the charity are to advance the education and the religion of the Jewish faith in accordance with Orthodox practice in particular to create and maintain and run Orthodox Jewish schools; to relieve poverty and such other purposes as are recognised by English Law as charitable.
## **Public benefit**
The board referred to the guidance contained in the Charity Commission's general guidance on public benefit, and 'The Advancement of Religion for the Public Benefit' in particular, when reviewing the aims and objectives and in planning the charity's future activities. In particular, the trustees consider how the planned activities will contribute to the aims and objectives set.
## **Grantmaking**
Grants are made to charitable institutions and organisations which accord with objects of the Charity. The trustees assess each of the applications made to them and consider their response based on the individual circumstances, the funds available, and the impact the grant will make in achieving the charity's goals.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Although fewer grants were made during the year, the trustees consider that the performance of the charity has been satisfactory. The impact of the cost of living crisis and soaring inflation has affected the charity's ability to fundraise as much as they would like.
Whilst the demand for grants has remained high, the trustees are mindful of the need to maintain a sufficient level of reserves.
## **FINANCIAL REVIEW**
## **Financial position**
The financial results for the year to 5 April 2025 are shown in the attached financial statements.
Total income increased from £60,833 to £62,948 and total expenditure decreased from £58,100 to £5,056 in comparison with the previous period.
There was a net increase in funds of £57,892 (2024 - £2,733) with total funds carried forward of £12,244,114 (2024 - £12,186,222).
## **Reserves policy**
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary income. The trustees consider that the ideal level of reserves as at 5 April 2025 would be twelve months of admin costs.
The free reserves as at 5 April 2025 were £406,852 in deficit. In calculating the reserves, the trustees have excluded from total funds fixed assets and any restricted income funds.
Whilst the current level of reserves is below the target set by the trustees, the charity has not made any commitments. The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide financial stability and flexibility, and are confident that it will be in a position to continue to make grants out of funds raised.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
**YESODEY HATORAH TRUST**
## **REPORT OF THE TRUSTEES for the year ended 5 April 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
Trustees may be appointed by the existing trustees at any time, either to fill a casual vacancy or as an addition to the existing trustees. Any trustees so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election.
No trustee had any beneficial interest in any contract with the charitable entity during the year.
Potential trustees are invited to informally attend trustee meetings prior to appointment and a comprehensive induction programme is available. Additionally individual trustees may undertake external training in a particular area of their role on the Governing Body.
## **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**
43 Craven Walk London N16 6BS
## **Trustees**
J D Schleider S S Sinitsky Rabbi C Pinter R Schiffer
## **Independent Examiner**
Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
Approved by order of the board of trustees on 9 July 2025 and signed on its behalf by:
J D Schleider - Trustee
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YESODEY HATORAH TRUST**
## **Independent examiner's report to the trustees of Yesodey Hatorah Trust**
I report to the charity trustees on my examination of the accounts of Yesodey Hatorah Trust (the Trust) for the year ended 5 April 2025.
## **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:
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.
Yedidya A Zaiden FCCA
Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
9 July 2025
Page 3
## **YESODEY HATORAH TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 5 April 2025**
|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
£
61,367
1,581
62,948
-
2,795
2,795
60,153
224,014
284,167|Restricted
fund
£
-
-
-
2,261
-
2,261
(2,261)
11,962,208
11,959,947|2025
Total
funds
£
61,367
1,581
62,948
2,261
2,795
5,056
57,892
12,186,222
12,244,114|2024
Total
funds
£
59,142
1,691|
|---|---|---|---|---|
|||||60,833|
|||||55,745
2,355|
|||||58,100|
|||||2,733
12,183,489|
|||||12,186,222|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes form part of these financial statements
Page 4
## **YESODEY HATORAH TRUST**
## **BALANCE SHEET**
## **5 April 2025**
|Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
140,276
3,814
141,117
144,931
(1,040)
143,891
284,167
284,167|Restricted
fund
£
12,510,690
-
-
-
(550,743)
(550,743)
11,959,947
11,959,947|2025
Total
funds
£
12,650,966
3,814
141,117
144,931
(551,783)
(406,852)
12,244,114
12,244,114
284,167
11,959,947
12,244,114|2024
Total
funds
£
12,653,227
3,814
80,964
84,778
(551,783)
(467,005)
12,186,222
12,186,222
224,014
11,962,208
12,186,222|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 July 2025 and were signed on its behalf by:
J D Schleider - Trustee
The notes form part of these financial statements
Page 5
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 5 April 2025**
## **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.
## **Legal status of the charity**
The charity is a private company limited by guarantee incorporated in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £5 per member of the charity.
## **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.
Freehold property - Not provided Fixtures and fittings - 25% on reducing balance
## **Taxation**
The charity is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **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.
Page 6
continued...
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **for the year ended 5 April 2025**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**||||
|---|---|---|---|
|||2025|2024|
|||£|£|
|Deposit account interest||1,581|1,691|
|**CHARITABLE ACTIVITIES COSTS**||||
||Direct|Support||
||Costs|costs|Totals|
||£|£|£|
|Relief of poverty, advancement of||||
|education|2,261|-|2,261|
|Support costs|-|2,795|2,795|
||2,261|2,795|5,056|
|**GRANTS PAYABLE**||||
|||2025|2024|
|||£|£|
|Relief of poverty, advancement of education||-|52,730|
## **3. CHARITABLE ACTIVITIES COSTS**
## **4. GRANTS PAYABLE**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
## **6. STAFF COSTS**
There were no staff costs in the year ended 5 April 2025 nor in the year ended 5 April 2024.
## **7. INDEPENDENT EXAMINERS FEES**
The Independent Examiners fees for the year ended 5 April 2025 were £2,700 (2024: £2,040).
continued...
Page 7
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025**
## **8. TANGIBLE FIXED ASSETS**
|Freehold
property
£
**COST**
At 6 April 2024 and 5 April 2025
12,644,182
**DEPRECIATION**
At 6 April 2024
-
Charge for year
-
At 5 April 2025
-
**NET BOOK VALUE**
At 5 April 2025
12,644,182
At 5 April 2024
12,644,182
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**11.**
**MOVEMENT IN FUNDS**
At 6.4.24
£
**Unrestricted funds**
General fund
224,014
**Restricted funds**
Restricted fund
11,962,208
**TOTAL FUNDS**
12,186,222||Fixtures
and
fittings
£
888,680
879,635
2,261
881,896
6,784
9,045
2025
£
3,814
2025
£
551,783
Net
movement
in funds
£
60,153
(2,261)
57,892|Totals
£
13,532,862|Totals
£
13,532,862|Totals
£
13,532,862|
|---|---|---|---|---|---|
||||879,635
2,261|||
||||881,896|||
||||12,650,966|||
||||12,653,227|||
||||2024
£
3,814
2024
£
551,783
At
5.4.25
£
284,167
11,959,947|2024
£
3,814
2024
£
551,783|2024
£
3,814|
||||12,244,114|||
continued...
Page 8
**YESODEY HATORAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025**
## **11. MOVEMENT IN FUNDS - continued**
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**
Comparative net movement in funds, included in the above are a
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
62,948
-
62,948
At 6.4.23
£
218,266
11,965,223
12,183,489
s follows:
Incoming
resources
£
60,833
-
60,833|Resources
expended
£
(2,795)
(2,261)
(5,056)
Net
movement
in funds
£
5,748
(3,015)
2,733
Resources
expended
£
(55,085)
(3,015)
(58,100)|Movement
in funds
£
60,153
(2,261)
57,892
At
5.4.24
£
224,014
11,962,208
12,186,222
Movement
in funds
£
5,748
(3,015)
2,733|
|---|---|---|---|
## **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 2025**
## **12. RELATED PARTY DISCLOSURES**
At the balance Sheet date, the charity was owed £3,814 (2024: £3,814) by YHS Trust, a sister charity.
Page 10