## **Shaarei Orah Limited** (A Company Limited by Guarantee) **Company No. 06807305 Charity No. 1133528** ## **Report and financial statements** **For the year ended 29[th] February 2024** ## **Shaarei Orah Limited** |**Shaarei Orah Limited**|| |---|---| |**For the year ended 29 February 2024**|| |**Contents**|| ||**Page**| |**Reference and administrative information**|**1**| |**Trustees’ annual report**|**2 - 5**| |**Independent auditors' report**|**6 -8**| |**Statement of financial activities**|**9**| |(incorporating an income and expenditure account)|| |**Balance sheet**|**10**| |**Statement of cash flows**|**11**| |**Notes to the financial statements**|**12-19**| **Shaarei Orah Limited Reference and administrative information For the year ended 29 February 2024** |**Trustees:**|M M Frankel| |---|---| ||J Hager| ||E Sternlicht| |**Company number:**|06807305| |**Charity number:**|1133528| |**Registered office:**|14 Hillcrest Avenue, London, NW11 0EN| |**Auditors:**|Goldwins Limited| ||75 Maygrove Road| ||West Hampstead| ||London NW6 2EG| ||www.goldwins.co.uk| |**Bankers**|NatWest| ||250 Bishopsgate| ||London| ||EC2M 4AA| Page | 1 **Shaarei Orah Limited Trustees’ report For the year ended 29 February 2024** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report and financial statements for the year ended 29 February 2024. The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019). ## **Objectives and activities** ## **The principal objectives of the charity are:** - (i) the advancement of the orthodox Jewish faith and orthodox Jewish education in particular (but not exclusively) by establishing maintaining and managing a Talmudical college for boys of the Orthodox Jewish faith in North West London known as "Shaarei Orah institute", - (ii) the relief of poverty, sickness and infirmity amongst the public at large for the public benefit, and - (iii) the advancement of such other objects as are for the benefit of the public and are charitable according to English law. ## **Public benefit** The trustees continue to operate within the confines of the charity objectives namely the relief of poverty by providing grants in respect of the advancement of Jewish education. Where the trustees make grants to institutions, they stipulate how these monies should be spent and constantly monitor the effectiveness of the allocation of the resources extended through the grant funding. The trustees are of the opinion that this latter method of funding combines both objectives of the charity such that through the grants to the institution, students who are partly able or unable to pay their fees, are also assisted. The charity's trustees have continued to comply with their duty to have due regard to the guidance on public benefit as published by the Charity Commission when exercising their powers or duties. ## **Achievements and performance** During the year, the charity has continued to operate the Shaarei Orah Institute. Shaarei Orah enables Torah observant youth who are seeking recognised and accredited secular qualifications to maintain their Torah learning in a secure environment. The organisation combines a Beis Hamedrash Programme to allow the students to continue to develop their Talmudical studies and an Academic Study Centre. Full details of the organisation’s activities can be found on the web site at http://shaarei-orah.org. During the year, funding was provided by voluntary contributions requested from the students and donations from local individuals, businesses and charitable institutions. The trustees are exceptionally grateful to all of the organisations and individuals for their continued support of the charity. The plans for the coming financial year are very ambitious but the trustees are working hard to ensure that financial supporters are kept informed of the charity's progress and the funds pledged for the year will allow the trustees to carry out their plans. 2 **Shaarei Orah Limited Trustees’ report For the year ended 29 February 2024** ## **Financial review** ## **Financial position** The Statement of Financial Activities shows surplus for the year of £58,341 (2023 Deficit: £8,322) and total funds carried forward of £86,695 (2023: £28,354). There were no restricted funds as at the year end. ## **Principal funding sources** The Charity continues to be dependent on voluntary donations. ## **Investment policy** The charity currently has a bank current account. These are the only investments to which the charity has title. ## **Reserves policy** The reserves policy takes into account the need to deal with short-term volatility of income without having to suddenly cut expenditure. The trustees would aim to retain funds equivalent to 3-6 months expenditure to take account of any potential short fall in donations in future. The reserves policy and target level are reviewed by the trustees on an annual basis, together with any steps necessary to align the actual level with the target over time. ## **Going concern** The trustees believe that there are no material uncertainties that call into doubt the charity’s ability to continue its activities. The accounts have therefore been prepared on the basis that the charity is a going concern. ## **Plans for the future** We are confident that our supporters will provide us with contributions at a level to support the objects of the charity. ## **Structure, governance and management** ## **Governing document** The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Charity is registered with the Charity Commission. The Charity is organised so that the Directors and Trustees meet regularly to manage its affairs. ## **Recruitment and appointment of new trustees** All Directors of the company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named above served throughout the year. The Board has the power to appoint additional trustees as it considers fit to do so. 3 **Shaarei Orah Limited Trustees’ report For the year ended 29 February 2024** ## **Grant and Donation Making Policy** To act according to the charity's objects as detailed about in the "Constitution and Objects of the Charity" section. The trustees meet monthly to discuss the progress of the charity and future plans for the coming months. The trustees make donations to institutions that are able to provide services to the community that they feel unable or unqualified to provide, but that fall within the objects of the charity. All grants and donations made must be approved by the majority of the trustees, however, in almost all occasions, the trustees will not make a grant or donation if there is an objection by any of the trustees. ## **Related parties** There were no related parties during the year (2023: None) ## **Risk management** The trustees regularly undertake a review of the major risks to which the charity is exposed, and systems designed to mitigate those risks are considered on an ongoing basis. There are two major risks that the trustees have identifies, as follows: ## (a) Fall in the level of donations The level of donations is fundamental to the operation of the charity. Given that the charity is relatively new, the consistency of donations is of major importance. The trustees are making every effort to increase the number of donors by seeking support from the local community in an attempt to reduce their current reliance on a few key donors. The trustees also make every effort to keep in regular contact with their donors so that they are able to see the difference that their contributions are making. ## (b) Misappropriation of funds The control of funds is key to any charity. As mentioned previously, the trustees meet monthly and discuss progress. This ensures that all expenses paid out from the charity are legitimate. The trustees decided that since they are having an independent examination, any misappropriation of funds should also come to light at that time. Since the banking arrangements ensure that only the trustees have access to the bank account, this also reduces risk of misappropriation. ## **DECLARATION OF PUBLIC BENEFIT** The Trustees have considered the Charity Commission's general guidance on public benefit in deciding what activities the charity should undertake. The 'Objectives and Activities' section explains the charity's activities which are open to anyone of the Orthodox Jewish faith. 4 **Shaarei Orah Limited Trustees’ report For the year ended 29 February 2024** ## **Statement of responsibilities of the trustees** The trustees (who are also directors of a charitable company for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP - Make judgements and estimates that are reasonable and prudent - State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Statement as to disclosure to our auditors** In so far as the trustees are aware: - There is no relevant audit information of which the charitable company’s auditors are unaware; and - The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **Auditors** Goldwins Limited were appointed as the auditors of the charitable company during the year and have expressed their willingness to continue in that capacity. The trustees’ annual report has been approved by the trustees on ………………………….. and 10 December 2024 signed on their behalf by; ……………………………………. E Sternlicht ## **Trustee** 5 **INDEPENDENT AUDITOR ʼS REPORT TO THE MEMBERS OF SHAAREI ORAH LIMITED** ## **Opinion** We have audited the financial statements of Shaarei Orah Limited (the ‘Charity’) for the year ended 29[th] February 2024 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). ## **Opinion on financial statements** In our opinion the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 29[th] February 2024 and of its income and expenditure for the year then ended: - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorʼs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditorʼs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 6 ## **INDEPENDENT AUDITOR ʼS REPORT TO THE MEMBERS OF SHAAREI ORAH LIMITED** ## **Opinion on other matter prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the trustees’ report (incorporating the directors’ report) has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of the trustees** As explained more fully in the Trustees’ Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below. 7 ## **INDEPENDENT AUDITOR ʼS REPORT TO THE MEMBERS OF SHAAREI ORAH LIMITED** In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to:  identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. - We inspected the minutes of meetings of those charged with governance. - We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. - We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. - We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. - In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councilʼs website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report. ## **Use of our report** This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed. 12/12/2024 ………………………………. A Wh ory Epton **Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG** 8 Shaarei Orah Limited Statement of financial activities (incorporating an income and expenditure account) For the year ended 29 February 2024 2024 2023 Unrestricted Fund Restricted Fund Total Fund Total Fund Note Income from: Donations and legacies Investments 1.586.332 1,586,332 1.243,741 Total income 1.586,342 1,586,342 1.243,751 Expenditure on.. Charitable activities Advancement and promotion of jewish education and relief of poverty 1.528.001 1,528,001 1.252,073 Total expenditure 1.528,001 1,528,001 1.252,073 Net income l (expenditure) for the year 58.341 58.341 18,3221 Transfers between funds Net income / (expenditure) before other recognised gains and losses 58.341 58,341 18,3221 Net movement in funds 58.341 58.341 (8.3221 Reconciliation of funds: Total funds brought fO￿ard 28.354 28.354 36,676 Total funds carried foThvard 86.695 86.695 28,354 All of the above results are derived from continuing artivitie5. There were no other recognised gain5 or losse5 Other than those stated above. Movement5 in funds are disclosed in Note 13 to the financial statements. Shaarei Orah Limited Balance sheet Company no. 06807305 As at 29 Februa 2024 2024 2023 Note Current assets.. Debtors Cash at bank and in hand 1,000 91,355 9,000 25,729 92,355 34.729 Liabilities: Creditors.. amounts falling due within one year 5,660 6,375 Net current assets l (liabilities) 86,695 28.354 Total assets less current liabilities 86.695 28.354 Total net assets / (liabilities) 86.695 28,354 The funds of the charity= Unrestricted i ncome funds= General funds 86,695 28,354 Total unrestricted funds 86,695 28,354 Total charity funds 86,695 28,354 The financial statements have been prepared in accordance with the special provisions for small companies under Panl 5 of the Companies Act 2006. Approved by the trustees on 1011212024 and signed on their behalf by E Sternlicht Trustee Shaarei Orah Limited Statement of cash flows For the ear ended 29 Februa 2024 Note 2024 2023 Cash flows from operating activities Net cash provided by l (used in) operating activities 65,616 111,767) Cash flows from investing activities.. Dividends. interest and rents from investments Net cash provided by l (used in) investing activities Net cash provided by l (used in) financing activities Change in cash and cash equivalents in the year 65.626 111,757) Cash and cash equivalents at the beginning of the year 25.729 37,486 Cash and cash equivalents at the end of the year 91,355 25,729 Shaarei Orah Limited Notes to the financial statements For the ear ended 29 Februa 2024 Accounting policies a) Basis of preparation The financial statements have been prepared in accordance with 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 IFRS 102 effective I January 2015) (Charities SORP FRS 102) and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. b) Going concern The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. c) Income Income is recognised when the charity has entitlement to the funds. any performance conditions attached to the income have been met. it is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred. For legacies, entitlement is taken as the earlier of the date on which either= the charity is aware that probate has been granted. the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made. or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity. or the charity is aware of the granting of probate. and the criteria for income recognition have not been met. then the legacy is a treated as a contingent asset and disclosed if material. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. d) Donations of gifts, services and facilities Donated professional services and donated facilities are recognised a5 income when the charity has control over the item or received the serrfice. any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees, annual report for more information about their contribution. On receipt. donated gifts. professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market- a corresponding amount is then recognised in expenditure in the period of receipt. e) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the bank. Shaarei Orah Limited Notes to the financial statements For the ear ended 29 Februa 2024 Accounting policies (continued) f) Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising Expenditure on charitable activities includes the costs of delivering services. undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading 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. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. h) Allocation of support Costs Expenditure is accounted for on an accruals basis and ha5 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. i) Operating leases Rental charges are charged on a straight line basis over the term of the lease. i) Tangible fixed assets Depreciation cost5 are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. k) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. l) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users. Shaarei Orah Limited Notes to the financial statements For the ear ended 29 Februa 2024 Accounting policies Icontinued) m) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. n) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. o) Pensions The charity does not operate a stakeholder pension scheme. 2 Detailed comparatives for the statement of financial activities 2023 Total Unrestricted Restricted Income from: Donations and legacies Charitable activities Investments 1,243,741 1,243,741 Total income 1,243,751 1,243,751 Expenditure on: Raising funds Charitable activities -Advancement and promotion of jewish education and relief of poverty 1.252.073 1.252,073 Total expenditure 1,252,073 1,252,073 Net income l expenditure before gains l (losses) on Net gains / (losses) on investments (8,322) (8,322) Net income l expenditure Transfers between funds {8,322) (8,322) Net movement in funds Total funds brought forward {8,322) 36,676 (8,322} 36,676 Total funds carried forward 28,354 28,354 Shaarei Orah Limited Notes to the financial statements For the ear ended 29 Februa 2024 3 Income from donations and legacies 2024 Total 2023 Total Unrestricted Restricted Donations 1.586.332 1.586,332 1.243.741 1,586,332 1.586,332 1,243,741 4 Income from investments 2024 Total 2023 Total Unrestricted Restricted Investment income Shaarei Orah Limited Notes to the financial statements For the ear ended 29 Februa 2024 5 Analysis of expenditure Charitable activities Advancement and promotion of jewish education and relief of poverty Support costs 2024 Total 2023 Total Direct cost Grants and Donations Poverty Relief Holiday Grant Medical Grant Grants To Individuals Support costs Telephone Printing postage and stationery Accoutancy Bank charges Audit fees 16.654 16,654 12.845 212,205 81,925 55.000 1.155.508 212,205 81,925 55,000 1.155,508 184,000 76,370 18.280 953.772 629 136 629 136 975 431 5,400 1,252.073 544 5,400 6.709 (6.709) 544 5,400 1.528,001 1.521.292 6.709 1,528.001 Support costs Total expenditure 2024 Total expenditure 2023 1.528,001 1.252.073 1.252.073 The total expenditure £1,528,001 was unrestricted (2023.. £1,252,073). Analysis of expenditure (prior year) Charitable activities Advancement and promotion of jewish education and relief of poverty Support Costs 2023 Total Direct cost Grants and Donations Poverty Relief Holiday Grant Grants To Individuals Support costs Accoutancy Bank charges Audit fees 12.845 12.845 184,000 94.650 953.772 184,000 94.650 953.772 975 431 975 431 5.400 5.400 1,245,267 6.806 6,806 (6.806) 1,252,073 Support costs Total expenditure 2023 1,252,073 1,252,073 Shaarei Orah Limited Notes to the financial statements For the year ended 29 February 2024 Net incoming resources for the year This is stated after charging / crediting= 2024 2023 Auditors, remuneration (excluding VAT): Audit 4,500 4.500 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel The charity did not employ staff during the year (2023= Nil). The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023.. £nil). No trustees received payment for professional or other services supplied to the charity (2023= £nil). Trustees, reimbursement of travel and subsistence costs is £Nil Related party transactions There are no related party transaction5 to disclose for 2024 (2023: none). There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. Taxation The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. l O Debtors 2024 2023 Other debtors Loan repayment due 1,000 9.000 1,000 9,000 I I Creditors= amounts falling due within one year 2024 2023 Accruals 5,660 6,375 5,660 6.375 Shaarei Orah Limited Notes to the financial statements For the year ended 29 February 2024 12 Analysis of net assets between funds General unrestricted Designated Restricted Total funds Current assets Current liabilities 92,355 (5.660) 92.355 15,660) Net assets at the end of the year 86,695 86,695 Comparative for analysis of net assets between funds (prior year) General Designated Restricted Total funds Current assets Current liabilities 34,729 (6.375) 34,729 (6.375) Net assets at the end of the year 28,354 28,354 13 Movements in funds Incoming resources & gains Outgoing resources & losses At the start of the year At the end of the year Transfers Unrestricted funds: General funds 28,354 1,586,342 (1.528,001) 86.695 Total unrestricted 28,354 1,586,342 (1.528,001) 86.695 Total funds 28,354 1,586,342 (1.528,001) 86,695 Comparative for movement in funds (prior year) Incoming resources & gains Outgoing resources & losses At the start of the year At the end of the year Transfers Unrestricted funds: General funds 36,676 1,243,751 (1.252,073) 28.354 Total unrestricted 36.676 1,243.751 (1.252,073) 28.354 Total funds 36.676 1,243,751 (1.252,073) 28.354 Shaarei Orah Limited Notes to the financial statements For the year ended 29 February 2024 14 Reconciliation of net income l (expenditure) to net cash flow from operating activities 2024 2023 Net income l (expenditure) for the reporting period (as per the statement of financial activities) Depreciation charges Dividends, interest and rent from investments (Increase)/decrease in debtors Increase/(decrease) i n creditors 58,341 (8.322) (10) 8,000 (715) (10) (9.000) 5,565 Net cash provided by l (used in) operating activities 65,616 {11,767) 15 Analysis of cash and cash equivalents At29 February 2024 At l March 2023 Other changes Cash flows Cash in hand 25.729 65.626 91.355 Total cash and cash equivalents 25,729 65,626 91,355 16 Legal status of the charity The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.