REGISTERED CHARITY NUMBER: 1135400
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
NOAM HATORAH (LONDON)
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
NOAM HATORAH (LONDON)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 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 | 9 |
NOAM HATORAH (LONDON)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 objects of the charity are the advancement of the Orthodox Jewish faith, the advancement of Orthodox Jewish education, the relief of poverty amongst members of the Jewish faith, and other such purposes as are charitable according to English law.
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 and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year under review the charity received donations that amounted to £207,338 (2023: £415,395) and paid donations that amounted to £74,569 (2023: £38,550).
FINANCIAL REVIEW
Financial position
The charity's reserves stand at £626,665 (2023: £431,785) The trustees plan to continue to make grants in accordance with the charity's objectives whilst continuing to ensure that an appropriate level of reserves is maintained.
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.
FUTURE PLANS
There are no current plans to change the activities or modus operandi of the charity for the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Induction and training of new trustees
The charity trustees periodically review and consider possible training requirements to best suit the charity's objectives.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1135400
Principal address
16 JESSAM AVENUE LONDON E5 9DU
Page 1
NOAM HATORAH (LONDON)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Y Reiner C A Reiner M Ekstein A N Hobig Trustee (appointed 29.6.23)
Independent Examiner
M A VENITT Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 14 January 2025 and signed on its behalf by:
Y Reiner - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NOAM HATORAH (LONDON)
Independent examiner's report to the trustees of NOAM HATORAH (LONDON)
I report to the charity trustees on my examination of the accounts of NOAM HATORAH (LONDON) (the Trust) for the year ended 31 March 2024.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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.
M A VENITT
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
14 January 2025
Page 3
NOAM HATORAH (LONDON)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 31.3.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 207,338 Investment income 2 174,198 Total 381,536 EXPENDITURE ON Raising funds 3 108,598 Charitable activities Charitable activities 74,598 Other 3,460 Total 186,656 NET INCOME 194,880 RECONCILIATION OF FUNDS Total funds brought forward 431,785 TOTAL FUNDS CARRIED FORWARD 626,665 |
31.3.23 Total funds £ 415,395 34,112 |
|---|---|
| 449,507 | |
| 107,440 54,600 840 |
|
| 162,880 | |
| 286,627 145,158 |
|
| 431,785 |
The notes form part of these financial statements
Page 4
NOAM HATORAH (LONDON)
BALANCE SHEET 31 MARCH 2024
| Notes FIXED ASSETS Investment property 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds TOTAL FUNDS |
31.3.24 Unrestricted fund £ 625,219 4,647 (3,201) 1,446 626,665 626,665 626,665 626,665 |
31.3.23 Total funds £ 625,219 - (193,434) (193,434) 431,785 431,785 431,785 431,785 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 January 2025 and were signed on its behalf by:
M Ekstein - Trustee
C A Reiner - Trustee
Y Reiner - Trustee
A N Hobig - Trustee
The notes form part of these financial statements
Page 5
NOAM HATORAH (LONDON)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Rents received | 174,198 | 34,112 |
Page 6
continued...
NOAM HATORAH (LONDON)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
3. RAISING FUNDS
Investment management costs
| Rent paid Insurance Light and heat |
31.3.24 £ 105,103 3,495 - 108,598 |
31.3.23 £ 105,000 2,023 417 |
|---|---|---|
| 107,440 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 415,395 |
| Investment income | 34,112 |
| Total | 449,507 |
| EXPENDITURE ON | |
| Raising funds | 107,440 |
| Charitable activities | |
| Charitable activities | 54,600 |
| Other | 840 |
| Total | 162,880 |
| NET INCOME | 286,627 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 145,158 |
| TOTAL FUNDS CARRIED FORWARD | 431,785 |
continued...
Page 7
NOAM HATORAH (LONDON)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6. INVESTMENT PROPERTY
| FAIR VALUE At 1 April 2023 and 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 431,785 TOTAL FUNDS 431,785 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 381,536 TOTAL FUNDS 381,536 Comparatives for movement in funds At 1.4.22 £ Unrestricted funds General fund 145,158 TOTAL FUNDS 145,158 |
£ 625,219 625,219 625,219 31.3.24 31.3.23 £ £ 3,201 193,434 Net movement At in funds 31.3.24 £ £ 194,880 626,665 194,880 626,665 Resources Movement expended in funds £ £ (186,656) 194,880 (186,656) 194,880 Net movement At in funds 31.3.23 £ £ 286,627 431,785 286,627 431,785 |
|---|---|
continued...
Page 8
NOAM HATORAH (LONDON)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 449,507 449,507 |
Resources Movement expended in funds £ £ (162,880) 286,627 (162,880) 286,627 |
Resources Movement expended in funds £ £ (162,880) 286,627 (162,880) 286,627 |
|---|---|---|---|
| 286,627 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 145,158 145,158 |
Net movement in funds £ 481,507 481,507 |
At 31.3.24 £ 626,665 |
|---|---|---|---|
| 626,665 |
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 £ 831,043 831,043 |
Resources Movement expended in funds £ £ (349,536) 481,507 (349,536) 481,507 |
Resources Movement expended in funds £ £ (349,536) 481,507 (349,536) 481,507 |
|---|---|---|---|
| 481,507 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 9