REGISTERED CHARITY NUMBER: 1134560
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 28 February 2023
for
TORAH LIVE
Abigail Sayagh Chartered Accountant 12 Beverley Gardens London NW11 9DG
TORAH LIVE
Contents of the Financial Statements for the Year Ended 28 February 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
TORAH LIVE
Report of the Trustees for the Year Ended 28 February 2023
The trustees present their report with the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objects of the charity are:-
(1) the advancement of orthodox Jewish religious education through modern methods of communication, using Hollywood-level graphics and cutting edge special effects, and
(2) such other purposes as are for the public benefit and are charitable according to English Law.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Torah Live is specifically designed to give Jewish children growing up in an age of internet and online games advanced multi-media Jewish Education. Torah Live has now completed 50 films and has become a regular mainstay of classroom learning for over 3,500 teachers worldwide working in over 1000 day schools., Torah live viewership reached record heights which is now over 115,000.
During the year two major new animated videos were made together with quizzes, games, comic illustrations, and behind the scenes clips. These films were Learning To Give and Music.
FINANCIAL REVIEW
Reserves policy
The trustees only utilise funds that have been received by the charity; and do not allocate in excess of this. The level of reserves required is equivalent to 3 months of expenditure for the charity's anticipated projects. The trustees believe that they have established a level of reserves sufficient for this purpose.
The statement of Financial Activities shows a net deficit for the year of £6,038 and our reserves stand at £14,313.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
There have been 3 trustees, throughout the period. Any new appointments are at the recommendation of the board.
Organisational structure
The Board of Trustees must, as per the governing document, have no more than 5 trustees, serving at any one time. Where there is a requirement for new trustees, these would be identified and appointed by the remaining trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1134560
Principal address
37 Bridge Lane London NW11 0ED
Trustees
Mr D Fine Dr B E Schreiber Rabbi D Tugendhaft
Page 1
TORAH LIVE
Report of the Trustees
for the Year Ended 28 February 2023
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Abigail Sayagh Chartered Accountant 12 Beverley Gardens London NW11 9DG
Approved by order of the board of trustees on 19 December 2023 and signed on its behalf by:
Mr D Fine - Trustee
Page 2
Independent Examiner's Report to the Trustees of Torah Live
Independent examiner's report to the trustees of Torah Live
I report to the charity trustees on my examination of the accounts of Torah Live (the Trust) for the year ended 28 February 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Abigail Sayagh
Abigail Sayagh Chartered Accountant 12 Beverley Gardens London NW11 9DG
19 December 2023
Page 3
TORAH LIVE
Statement of Financial Activities for the Year Ended 28 February 2023
| 28.2.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 136,137 Other trading activities 2 21,961 Total 158,098 EXPENDITURE ON Charitable activities Fundraising 332 Grants to Institutions 159,600 Other 4,204 Total 164,136 NET INCOME/(EXPENDITURE) (6,038) RECONCILIATION OF FUNDS Total funds brought forward 20,351 TOTAL FUNDS CARRIED FORWARD 14,313 |
28.2.22 Total funds £ 126,357 21,476 |
|---|---|
| 147,833 | |
| 928 124,864 1,701 |
|
| 127,493 | |
| 20,340 11 |
|
| 20,351 |
The notes form part of these financial statements
Page 4
TORAH LIVE
Balance Sheet 28 February 2023
| 28.2.23 | 28.2.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 15,513 | 21,551 | |
| CREDITORS | |||
| Amounts falling due within one year | 4 | (1,200) | (1,200) |
| NET CURRENT ASSETS | 14,313 | 20,351 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 14,313 | 20,351 | |
| NET ASSETS | 14,313 | 20,351 | |
| FUNDS | 5 | ||
| Unrestricted funds | 14,313 | 20,351 | |
| TOTAL FUNDS | 14,313 | 20,351 |
The financial statements were approved by the Board of Trustees and authorised for issue on 19 December 2023 and were signed on its behalf by:
Mr D Fine - Trustee
The notes form part of these financial statements
Page 5
TORAH LIVE
Notes to the Financial Statements for the Year Ended 28 February 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| Shop income & subscriptions | 21,961 | 21,476 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Page 6
continued...
TORAH LIVE
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 5. MOVEMENT IN FUNDS At 1.3.22 £ Unrestricted funds General fund 20,351 TOTAL FUNDS 20,351 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 158,098 TOTAL FUNDS 158,098 Comparatives for movement in funds At 1.3.21 £ Unrestricted funds General fund 11 TOTAL FUNDS 11 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 147,833 TOTAL FUNDS 147,833 |
28.2.23 28.2.22 £ £ 1,200 1,200 Net movement At in funds 28.2.23 £ £ (6,038) 14,313 (6,038) 14,313 Resources Movement expended in funds £ £ (164,136) (6,038) (164,136) (6,038) Net movement At in funds 28.2.22 £ £ 20,340 20,351 20,340 20,351 Resources Movement expended in funds £ £ (127,493) 20,340 (127,493) 20,340 |
|---|---|
continued...
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TORAH LIVE
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
5. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.3.21 | in funds | 28.2.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 11 | 14,302 | 14,313 |
| TOTAL FUNDS | 11 | 14,302 | 14,313 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 305,931 305,931 |
Resources Movement expended in funds £ £ (291,629) 14,302 (291,629) 14,302 |
Resources Movement expended in funds £ £ (291,629) 14,302 (291,629) 14,302 |
|---|---|---|---|
| 14,302 |
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2023.
Page 8
TORAH LIVE
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| Detailed Statement of Financial Activities for the Year Ended 28 February 2023 |
||
|---|---|---|
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 136,137 | 126,357 |
| Other trading activities | ||
| Shop income & subscriptions | 21,961 | 21,476 |
| Total incoming resources | 158,098 | 147,833 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 159,600 | 124,346 |
| Support costs | ||
| Management | ||
| Advertising | 145 | (560) |
| Fundraising | 187 | 788 |
| 332 | 228 | |
| Finance | ||
| Bank charges | 919 | 989 |
| Exchange Movements | 1,199 | - |
| 2,118 | 989 | |
| Governance costs | ||
| Administrative costs | 886 | 730 |
| Accountancy and legal fees | 1,200 | 1,200 |
| 2,086 | 1,930 | |
| Total resources expended | 164,136 | 127,493 |
| Net (expenditure)/income | (6,038) | 20,340 |
This page does not form part of the statutory financial statements
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