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2023-03-31-accounts

Charity registration number 1108790

FRIENDS OF YESHIVAS TORAH OHR

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FRIENDS OF YESHIVAS TORAH OHR

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Philip Weinstein Mr Jack Emanuel Mr Jonathan Sanger Charity number 1108790 Registered office 37 The Ridgeway London NW11 8QP Independent examiner Weissbraun Emanuel 220 The Vale London NW11 8SR Bankers CAF Bank 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ

FRIENDS OF YESHIVAS TORAH OHR

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 9

FRIENDS OF YESHIVAS TORAH OHR

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities Act 2011 and "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

The charity's objects are the advancement of Orthodox Jewish religious education throughout the world and in particular by supporting the charitable activities of the college Yeshivas Torah Ohr, Rechov Sorotzkin, Mattersdorf.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The Trustees are satisfied that their fundraising and grant-making activities are at a suitable level for the charity. Funds remitted to the College in Israel have been used as part of the College's running costs. The College instructs and teaches Orthodox Judaism.

There are no current plans to change the activities or modus operandi in the foreseeable future.

Financial review

In the period under review, the charity made a surplus of £110,382 (2022: surplus of £2,636).

The Trustees note that the increased surplus this year related to significant donations being received just prior to the year end, all of which were passed to the institution in Israel shortly thereafter.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be passed to the college as soon as possible. The Trustees consider that it is not necessary for the charity to maintain reserves due to the nature of the charity

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a legally registered charity no.1108790 constituted by a deed of trust.

The Trustees who served during the year and up to the date of signature of the financial statements were: Mr Philip Weinstein Mr Jack Emanuel Mr Jonathan Sanger

The Charity's elected Trustees are appointed at an Annual General Meeting of the Charity on the basis of the Board's specifications concerning eligibility, personal competence, specialist skills, business and community knowledge and local availability.

FRIENDS OF YESHIVAS TORAH OHR

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees report was approved by the Board of Trustees.

Mr Philip Weinstein Trustee

26 November 2023

FRIENDS OF YESHIVAS TORAH OHR

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FRIENDS OF YESHIVAS TORAH OHR

I report to the Trustees on my examination of the financial statements of FRIENDS OF YESHIVAS TORAH OHR (the charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’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(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

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 financial statements to be reached.

Michael Weissbraun, FCA Weissbraun Emanuel

220 The Vale London NW11 8SR

Dated: 26 November 2023

FRIENDS OF YESHIVAS TORAH OHR

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

**Unrestricted ** Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 2 568,855 205,799
Investments 3 54 -
Total income 568,909 205,799
Expenditure on:
Charitable activities 4 458,527 203,163
Net income for the year/
Net movement in funds 110,382 2,636
Fund balances at 1 April 2022 13,029 10,393
Fund balances at 31 March 2023 123,411 13,029

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

FRIENDS OF YESHIVAS TORAH OHR

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
9
Net current assets
Income funds
Unrestricted funds		 2023
£
124,161
(750)		 £
123,411
123,411
123,411		 2022
£
13,649
(620)		 £
13,029
13,029
13,029

The financial statements were approved by the Trustees on 26 November 2023

Mr Philip Weinstein Trustee

FRIENDS OF YESHIVAS TORAH OHR

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Friends of Yeshivas Torah Ohr is a legally registered charity no. 1108790 constituted by a deed of trust.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Trust Deed, the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 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 settlement will be required and the amount of the obligation can be reliably measured.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

FRIENDS OF YESHIVAS TORAH OHR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.7 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.

2 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 568,855 205,799

FRIENDS OF YESHIVAS TORAH OHR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Investments

Unrestricted Total
funds
2023 2022
£ £
Interest receivable 54 -

4 Charitable activities

Charitable payments
Share of support costs (see note 5)
Share of governance costs (see note 5)
Support costs
Support
costs
Governance
costs
£
£
Bank charges
378
-
Advertising costs
-
-
Admin costs
-
-
Accountancy
-
750
378
750
Analysed between
Charitable activities
378
750		 Charitable
Expenditure
Heading 1
Charitable
Expenditure
Heading 1
2023
2022
£
£
457,399
201,900
378
643
750
620
458,527
203,163
2023Support costs Governance
costs
2022
£
£
£
£
378
273
-
273
-
250
-
250
-
120
-
120
750
-
620
620
1,128
643
620
1,263
1,128
643
620
1,263		 Charitable
Expenditure
Heading 1
Charitable
Expenditure
Heading 1
2023
2022
£
£
457,399
201,900
378
643
750
620
458,527
203,163
2023Support costs Governance
costs
2022
£
£
£
£
378
273
-
273
-
250
-
250
-
120
-
120
750
-
620
620
1,128
643
620
1,263
1,128
643
620
1,263
203,163
2022
£
273
250
120
620
1,263
1,263

5 Support costs

Governance costs includes payments to the auditors of £750 (2022- £620) for audit fees.

FRIENDS OF YESHIVAS TORAH OHR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Trustees' Expenses

None of the Trustees (or any person connected with them) were repaid for any expenses incurred during the year.

7 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

8 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

9 Creditors: amounts falling due within one year

9
Creditors: amounts falling due within one year
Accruals and deferred income
10
Related party transactions		 2023
£
750		 2022
£
620

There were no disclosable related party transactions during the year (2022 - none).