Charity registration number 1126822
Company registration number 03479995 (England and Wales)
STIMLER TZEDOKOH LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
STIMLER TZEDOKOH LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees And Directors | J. Stimler |
|---|---|
| M. Stimler | |
| S. Stimler | |
| Secretary | M. Stimler |
| Charity number | 1126822 |
| Company number | 03479995 |
| Principal address | Martin House |
| Downs Road | |
| London | |
| E5 8QJ | |
| Registered office | Martin House |
| Downs Road | |
| London | |
| E5 8QJ | |
| Independent examiner | G P Golbey FCA |
| Bankers | Lloyds Bank Plc |
| 70-71 Cheapside | |
| London | |
| EC2V 6EN |
STIMLER TZEDOKOH LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 - 9 |
STIMLER TZEDOKOH LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees and directors present their annual report and financial statements for the year ended 31 December 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 Memorandum and Articles of Association, the Companies Act 2006 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 object is the advancement of religion in accordance with the Orthodox Jewish Faith and the relief of poverty.
The trustees and directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
During the year the company continued to solicit for donations with the aim of pursuing its objectives.
Achievements and performance
The trustees consider the charity's performance and achievements during the year to be satisfactory.
Financial review
The charity's reserves held at the balance sheet date show a surplus of £32,939, held as cash at bank of £33,792 less accruals for accountancy and Company Secretarial fees of £853.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees and directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees and directors 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 constituted as a company limited by guarantee. Charitable status was granted on 20 November 2008.
The trustees and directors, 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:
J. Stimler
M. Stimler
S. Stimler
The board has the power to appoint additional trustees as it considers fit to do so. None of the trustees has any beneficial interest in the charity. All the directors of the company are also trustees of the charity and there are no other trustees other than those mentioned above. The trustees have guaranteed to contribute £1 in the event of a winding up.
The charity is organised so that the trustees meet regularly to manage its affairs. Mr. M. Stimler has been appointed by the trustees to manage the day to day operations of the company.
Any new trustees would receive an induction early on in their tenure, thus ensuring that they fully understand the organisation, its operations, its staff and its ethos and values. The induction process would set out what is expected of trustees by the charity, the law and the Charity Commission. Trustees receive regular updates and briefings on these matters.
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STIMLER TZEDOKOH LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
The charity solicits donations from companies which are under the common control of the trustees and directors.
The trustees' report was approved by the Board of Trustees And Directors.
M. Stimler
Trustee and Director Dated: 3 July 2024
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STIMLER TZEDOKOH LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES AND DIRECTORS OF STIMLER TZEDOKOH LIMITED
I report to the trustees and directors on my examination of the financial statements of Stimler Tzedokoh Limited (the charity) for the year ended 31 December 2023.
Responsibilities and basis of report
As the trustees and directors 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 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act 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 (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 the Institute of Chartered Accountants in England & Wales, 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:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
G P Golbey FCA
Chartered Accountant
Dated: 3 July 2024
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STIMLER TZEDOKOH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 478,400 | 159,000 |
| Total income | 478,400 | 159,000 | |
| Expenditure on: | |||
| Charitable activities | 4 | 500,437 | 418,595 |
| Total expenditure | 500,437 | 418,595 | |
| Net expenditure and movement in funds | (22,037) | (259,595) | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2023 | 54,976 | 314,571 | |
| Fund balances at 31 December 2023 | 32,939 | 54,976 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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STIMLER TZEDOKOH LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Net assets excluding pension liability The funds of the charity Unrestricted funds |
2023 £ 33,792 (853) |
£ 32,939 32,939 32,939 32,939 |
2022 £ 55,842 (866) |
£ 54,976 |
|---|---|---|---|---|
| 54,976 | ||||
| 54,976 | ||||
| 54,976 |
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 December 2023.
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 and directors on 3 July 2024
M. Stimler Trustee and Director
Company registration number 03479995 (England and Wales)
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STIMLER TZEDOKOH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
Charity information
Stimler Tzedokoh Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Martin House, Downs Road, London, E5 8QJ.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 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 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 and directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees and directors 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 and directors in furtherance of their charitable objectives.
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.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised when a liability is incurred.
Expenditure which is directly attributable to specific activities has been included in these categories. Charitable activities include expenditure of grants made for the advancement of religion in accordance with the Orthodox Jewish Faith and the relief of poverty.
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.
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STIMLER TZEDOKOH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
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 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.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees and directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | 478,400 | 159,000 |
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STIMLER TZEDOKOH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
4 Charitable activities
| Charitable | Charitable | |
|---|---|---|
| donations | donations | |
| 2023 | 2022 | |
| £ | £ | |
| Grant funding of activities (see note 5) | 499,300 | 417,725 |
| Share of governance costs (see note 6) | 1,137 | 870 |
| 500,437 | 418,595 |
5 Grants payable
| Charitable | Charitable | |
|---|---|---|
| donations | donations | |
| 2023 | 2022 | |
| £ | £ | |
| Grants to institutions: | ||
| Other | 499,300 | 417,725 |
The charitable donations have been detailed in a separate publication entitled "Stimler Tzedokoh Limited - Schedule of Charitable Donations". Copies of this schedule are available to the public by writing to the Trustees, Stimler Tzedokoh Limited, Martin House, Downs Road, London E5 8QJ by registered post.
6 Support costs allocated to activities
| Heading | Total | |
|---|---|---|
| #ac982 | ||
| 2023 | 2022 | |
| £ | £ | |
| Governance | 1,137 | 870 |
The legal and professional costs relate to the fee payable to the independent examiner.
7 Trustees And Directors
None of the trustees and directors (or any persons connected with them) received any remuneration during the year, and there were no expenses incurred by the trustees and directors requiring reimbursement.
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STIMLER TZEDOKOH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
8 Employees
There were no employees during the year.
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Accruals and deferred income | 853 | 866 |
11 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 General funds Previous year: At 1 General funds |
January 2023 Incoming resources Resources expended At 31 December 2023 £ £ £ £ 54,976 478,400 (500,437) 32,939 January 2022 Incoming resources Resources expended At 31 December 2022 £ £ £ £ 314,571 159,000 (418,595) 54,976 |
|---|---|
12 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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