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2025-08-31-accounts

Company registration number 06263604 (England and Wales) Charity registration number 1120748 (England and Wales)

YESHIVAS LEV SIMCHA LTD

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

YESHIVAS LEV SIMCHA LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Y Rigel Mr J Goldman Charity number 1120748 Company number 06263604 Registered office 17 Margaret Road London N16 6UX Independent examiner Mr J Silver FCCA Precision Ltd 32 Castlewood Road N16 6DW

YESHIVAS LEV SIMCHA LTD

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Statement of cash flows 6
Notes to the financial statements 7 - 14

YESHIVAS LEV SIMCHA LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their annual report and financial statements for the year ended 31 August 2025.

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 governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The objects for which the company was established are the advancement of Orthodox Jewish religious education generally and in particular but not exclusively to maintain administer and manage the Talmudical college known as Yeshivas Lev Simcha.

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 in planning future activities.

Achievements and performance

Significant activities and achievements against objectives

The charity continued its charitable activities, and managed to raise substantial funds, which it has applied towards the activities in running the college, reducing the charity's deficit, and supporting charities whose objectives are in line with the charity's objectives.

Financial review

In the year under review the charity generated income of £938,633 (2024: £999,249) and incurred expenses of £959,028 (2024: £922,959) resulting in net outgoing resources of £20,395.

As at the year end, unrestricted funds stood at £71,586. Following the year end, the trustees have intensified fundraising activities to ensure compliance with the charity’s reserves policy outlined below.

Reserves policy

The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.

Major risks

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.

Plans for future periods

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

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is constituted as a limited company, and was formed on 30 May 2007. The company is managed and controlled by the directors who are the trustees, and who meet regularly. The company commenced its activity on 1 September 2007.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Y Rigel

Mr J Goldman

YESHIVAS LEV SIMCHA LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Recruitment and appointment of trustees

It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

.............................. Mr Y Rigel Trustee

Date: .............................................

YESHIVAS LEV SIMCHA LTD

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YESHIVAS LEV SIMCHA LTD

I report to the trustees on my examination of the financial statements of Yeshivas Lev Simcha Ltd (the charity) for the year ended 31 August 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

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

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.

J Silver FCCA Precision Ltd 32 Castlewood Road N16 6DW Date: ............................

YESHIVAS LEV SIMCHA LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 882,476 961,055
Charitable activities 4 55,114 38,028
Investments 5 1,043 166
Total income 938,633 999,249
Expenditure on:
Raising funds 6 56,477 44,411
Charitable activities 7 902,551 878,548
Total expenditure 959,028 922,959
Net income/(expenditure) and movement in funds (20,395) 76,290
Reconciliation of funds:
Fund balances at 1 September 2024 91,981 15,691
Fund balances at 31 August 2025 71,586 91,981

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

YESHIVAS LEV SIMCHA LTD

BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
17
Net assets
The funds of the charity
Unrestricted funds
19		 2025
£
66,323
36,959
103,282
(78,391)		 £
66,548
24,891
91,439
(19,853)
71,586
71,586
71,586		 2024
£
84,145
35,237
119,382
(80,965)		 £
78,934
38,417
117,351
(25,370)
91,981
91,981
91,981

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on .........................

.............................. Mr Y Rigel Trustee

YESHIVAS LEV SIMCHA LTD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from operations
21
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(4,251)
1,043
(5,317)		 2024
£
£
£
10,247
37,413
(12,779)
166
(3,208)
(12,613)
(5,316)
(5,317)
(5,316)
1,722
19,484
35,237
15,753
36,959
35,237

YESHIVAS LEV SIMCHA LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

Yeshivas Lev Simcha Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 17 Margaret Road, London, N16 6UX.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared on a going concern basis, as the trustees are of the opinion that the charity will continue for the foreseeable future based upon the continued financial support from the community.

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 or grantors 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.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts.

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 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.

YESHIVAS LEV SIMCHA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 20 % Reducing Balance Method Computers 20 % Reducing Balance Method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 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.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

YESHIVAS LEV SIMCHA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

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.

1.10 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There have been no material adjustments based on estimations and assumptions during the financial year.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 882,476 961,055

YESHIVAS LEV SIMCHA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Charitable activities
Services provided under contract 16,825 5,601
Reimbursed Expenditure 38,289 32,427
55,114 38,028
5 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 1,043 166
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Staging fundraising events 14,733 8,416
Advertising 19,863 2,122
Other fundraising costs 21,881 33,873
56,477 44,411
7 Grants payable
Charitable Charitable
Expenditure Expenditure
2025 2024
£ £
Grants to institutions:
Other 56,433 78,698
56,433 78,698
Grants to individuals - 179
56,433 78,877

YESHIVAS LEV SIMCHA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

7 Grants payable

(Continued)

- 8 Support costs allocated to activities

General Office Expenditure
Governance costs
Analysed between:
College Expenditure
Charitable Expenditure
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2025
£
10,176
9,907
20,083
18,075
2,008
20,083
2025
£
3,000
16,637		 2024
£
5,552
8,826
14,378
14,378
-
14,378
2024
£
3,600
19,733

10 Trustees

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

11 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Other pension costs		 2025
Number
32
2025
£
293,533
532
294,065		 2024
Number
34
2024
£
309,456
607
310,063

YESHIVAS LEV SIMCHA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

11 Employees

(Continued)

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

12 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 Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

13 Tangible fixed assets

Plant and
equipment
£
Cost
At 1 September 2024
148,979
Additions
1,329
At 31 August 2025
150,308
Depreciation and impairment
At 1 September 2024
76,663
Depreciation charged in the year
14,729
At 31 August 2025
91,392
Carrying amount
At 31 August 2025
58,916
At 31 August 2024
72,316
14
Debtors
Amounts falling due within one year:
Other debtors
15
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 Computers
£
21,508
2,922
24,430
14,890
1,908
16,798
7,632
6,618
2025
£
66,323
2025
£
25,253
5,400
19,853		 Total
£
170,487
4,251
174,738
91,553
16,637
108,190
66,548
78,934
2024
£
84,145
2024
£
30,570
5,200
25,370

The long-term loan relates to a loan received under the government backed Bounce back loan scheme.

YESHIVAS LEV SIMCHA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

15
Loans and overdrafts
16
Creditors: amounts falling due within one year
Notes
Bank loans
15
Other taxation and social security
Trade creditors
Accruals and deferred income
17
Creditors: amounts falling due after more than one year
Notes
Bank loans
15
18
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 (Continued)
2025
2024
£
£
5,400
5,200
-
2,227
39,423
35,570
33,568
37,968
78,391
80,965
2025
2024
£
£
19,853
25,370
2025
2024
£
£
532
607		 (Continued)
2025
2024
£
£
5,400
5,200
-
2,227
39,423
35,570
33,568
37,968
78,391
80,965
2025
2024
£
£
19,853
25,370
2025
2024
£
£
532
607
80,965
2024
£
25,370
2024
£
607

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Resources At 31 August
September resources expended 2025
2024
£ £ £ £
General funds 91,981 938,633 (959,028) 71,586
Previous year: At 1 Incoming Resources At 31 August
September resources expended 2024
2023
£ £ £ £
General funds 15,691 999,249 (922,959) 91,981

YESHIVAS LEV SIMCHA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

20 Related party transactions

During the year, the charity made donations totalling £14,750 to other charities where one of its trustees also serves as a trustee.

Other than the above there were no disclosable related party transactions during the year (2024 - none).

21 Cash generated from operations 2025 2024
£ £
(Deficit)/surplus for the year (20,395) 76,290
Adjustments for:
Investment income recognised in statement of financial activities (1,043) (166)
Depreciation and impairment of tangible fixed assets 16,637 19,733
Movements in working capital:
Decrease/(increase) in debtors 17,822 (15,683)
(Decrease) in creditors (2,774) (42,761)
Cash generated from operations 10,247 37,413
22 Analysis of changes in net funds
At 1 September Cash flows At 31 August
2024 2025
£ £ £
Cash at bank and in hand 35,237 1,722 36,959
Loans falling due within one year (5,200) (200) (5,400)
Loans falling due after more than one year (25,370) 5,517 (19,853)
4,667 7,039 11,706