2024-01-31-accounts

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

COMPANY REGISTRATION NUMBER 06791806 CHARITY NUMBER 1135484

Kosher Outlet Assistance Ltd Company Limited by Guarantee Consolidated Financial Statements

31 January 2024

COHEN ARNOLD

Chartered Accountants & Registered Auditors New Burlington House 1075 Finchley Road LONDON NW11 0PU

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Financial Statements

Year ended 31 January 2024

Contents	Page
Trustees' annual report (incorporating the director's report)	1
Independent auditor's report to the members	6
Consolidated statement of financial activities (including consolidated
income and expenditure account)	11
Consolidated statement of financial position	12
Company statement of financial position	13
Consolidated statement of cash flows	14
Notes to the financial statements	15

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 January 2024

The trustees, who are also the directors for the purposes of company law, present their report including a strategic report, together with consolidated financial statements of the charity and its subsidiaries for the year ended 31 January 2024, which are also prepared to meet the requirements for a directors' report for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association 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).

Reference and administrative details

Registered charity name	Kosher Outlet Assistance Ltd (the “charity”)
Charity registration number	1135484
Company registration number	06791806
Principal office and registered	Churchill House
office	137-139 Brent Street
	London
	NW4 4DJ
The trustees	Mr J Perl
	Mr J Cope
	Mr I M Lerner
	Mr D Fluss
Auditor	Cohen Arnold
	Chartered Accountant & statutory auditor
	New Burlington House
	1075 Finchley Road
	LONDON
	NW11 0PU
Bankers	HSBC
	897 Finchley Road
	London
	NW11 7NX

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2024

Structure, governance and management

Governing documents

The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association.

Its registered charity number is 1135484 and its company registration number is 06791806.

Appointment, training and recruitment of trustees

The trustees (as directors for company law purposes) may at any time co-opt any individual who is qualified to be appointed as a trustee to fill a vacancy in their number or as an additional trustee. New trustees are subject to trustee induction training which includes an understanding of the content of the Memorandum and Articles of Association, their legal obligations under Charity Act and Company Law, the organisational structure of Kosher Outlet Assistance Ltd and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events which enhance their knowledge and skill thereby improving the performance of their role.

Group structure and relationships

The charity owns the entire share capital of an operating subsidiary Kosher Outlet Ltd, a grocery retailer, incorporated in England and Wales, and its company registration number is 06791792. Kosher Outlet Ltd’s registered office is Churchill House, 137-139 Brent Street, London NW4 4DJ.

Management of the group

The day to day operations of the subsidiary such as purchasing stock, sales and general operations are delegated to the management team working within Kosher Outlet Ltd. Large and one-off type transactions, premises, legal and financial related areas are undertaken and approved by the Trustees.

Trustees seek advice from their Accountants and other professionals. The trustees have a strong connection to the local community and when the necessity arises they will avail themselves of a local professional for advice which is quite often provided pro-bona.

Related parties and co-operations with other organisations

None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee of the charity with a supplier company must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported. None of the trustees have any beneficial interest in the charity.

Objectives and activities

The charity's objective is to relieve financial hardship among the people of the Jewish community in London by providing such persons with goods which they could not otherwise afford.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2024

Objectives and activities (continued)

The subsidiary undertaking, Kosher Outlet Limited operates a not-for-profit grocery store based in Northwest London to ensure that Kosher groceries are more affordable and accessible to the poor within the community. In addition, it operates a voucher scheme whereby vouchers can be purchased at face value which are then distributed to the poor within the community to redeem for groceries in the store. This scheme is used by other charitable organisations whom wish to distribute them to their beneficiaries.

Grant making policy

Grants are made to charitable institutions and organisations which accord with the objects of the charity.

Strategic report

The following sections describing the achievements and performance and separately, the financial review, form the strategic report of the charity.

Achievements and performance

During the year the charity continued its activities in support of charitable organisations and aggregate donations were paid in the sum of £202,870 (2023: £193,875).

The benefits that these charities provide include provision of basic necessities and financial support to the poor.

The charity measures it success on the amount of food vouchers and grants it able to distribute in accordance with its objectives.

Individuals within the community benefit from the availability of low-cost Kosher food with the aim of reducing living costs and providing more disposal income for the poor within the community and enabling them to purchase other basic necessities. The charity has received informal feedback from individuals that they are now managing their living costs better due to the availability of low-cost Kosher food.

Financial review

The charity continued its charitable activities through its food voucher scheme and by making grants to other charitable organisations in financial support of the poor.

The charity’s wholly owned trading subsidiary, Kosher Outlet Ltd continued to trade well and turnover increased by nearly 25% compared to the previous year.

The effect of the weak Pound Sterling and continued uncertainty within the market has caused increased cost of goods, making the Kosher groceries more expensive. However, the trustees continue to actively source low cost groceries from suppliers in order to keep their prices down to a minimum.

The charity’s subsidiary operates its grocery store from premises located in the Brent Cross area in Northwest London.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2024

Key Performance Indicators

The trustees monitor the group's performance against the strategic objectives on a regular basis. Performance is assessed against the strategy and expectations using financial and non-financial indicators. The key financial performance indicators used by the group are as follows:

rmance indicators used by the group are as follows:
	2024	2023
	£	£
Grants and donations received	124,290	107,000
Charitable activities	202,870	193,875
Net movement in funds	369,847	79,377

Risk management

The trustees have a risk management strategy which comprises:

• an annual review of the principal risks and uncertainties that the charity and its subsidiary Kosher Outlet Ltd face;

• the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and

• the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.

This work has identified that financial sustainability is the major financial risk for both the charity and its subsidiary. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due to ensure sufficient working capital by the charity and its subsidiary company. Attention has also been focussed on non-financial risks arising from fire, health and safety of customers, staff and management of the store and food hygiene. These risks are managed by having robust policies and procedures in place, and regular awareness training for staff working in these operational areas. The trustees are satisfied that these systems and procedures manage any perceived risks.

Reserves policy

At the year-end £1,685,697 (2023: £1,315,850) was held as unrestricted funds in the group. Included within this are free reserves of £1,339,466 (2023: £919,701).

It is the policy of the charity to maintain unrestricted funds, which are the free reserve of the charity, at a level, which the trustees think appropriate after considering the future commitments of the charity, unplanned emergency expenditure and the likely administrative costs of the charity for the next year.

Plans for future periods

The trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.

Investment Powers, Policy and Objectives

The trustees, having regard to the liquidity requirements of operating the shop, have kept available funds in an interest-bearing deposit account and seek to achieve a rate on deposit which matches or exceeds inflation as measured by the retail prices index. Under the Memorandum and Articles of Association, the charity has the power to make any investment, which the trustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2024

Trustees' responsibilities statement

The charity trustees (who are also the directors of Kosher Outlet Assistance Ltd for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the 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 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 business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure to our auditors

Each of the persons who is a trustee at the date of approval of this report confirms that:

• so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and

• they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

Auditor

Cohen Arnold is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

The trustees' annual report and the strategic report were approved on 31 October 2024 and signed on behalf of the board of trustees by:

(= by: Mr J Cope Trustee

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kosher Outlet Assistance Ltd

Year ended 31 January 2024

Opinion

We have audited the financial statements of Kosher Outlet Assistance Ltd (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 31 January 2024 which comprise the consolidated statement of financial activities (including the consolidated income and expenditure account), the consolidated statement of financial position, the statement of financial position, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and the United Kingdom Accounting Standards including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group's and parent charity’s affairs as at 31 January 2024 and of the group’s incoming resources and application of resources, including 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 and Charities Act 2011.

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 auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s 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 trustees with respect to going concern are described in the relevant sections of this report.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kosher Outlet Assistance Ltd (continued)

Year ended 31 January 2024

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.

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’ annual report including the strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the trustees’ annual report including the strategic 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 group and the parent 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 by the parent charity, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charity 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.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kosher Outlet Assistance Ltd (continued)

Year ended 31 January 2024

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors 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 the trustees 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 group’s and the parent 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 group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibility 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 auditor’s 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 is detailed below:

• We obtained an understanding of the legal and regulatory frameworks that are applicable to the group through discussion with the trustees and identified financial reporting legislation and charity legislation as being most significant to these financial statements.

• We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with the laws and regulations.

• We discussed with the trustees the policies and procedures regarding compliance with these legal and regulatory frameworks.

· We assessed the susceptibility of the group's financial statements to material misstatement due to noncompliance with legal and regulatory frameworks, including how fraud might occur, by enquiry with the trustees during the planning and finalisation stages of our audit. The susceptibility to such material misstatement was determined to be low.

• Based on this understanding, we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement items.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kosher Outlet Assistance Ltd (continued)

Year ended 31 January 2024

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group’s or parent charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent charity to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kosher Outlet Assistance Ltd (continued)

Year ended 31 January 2024

Cohen Arnold is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

USE OF OUR REPORT

This report is made solely to the charity'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.

David Goldberg FCA (Senior Statutory Auditor)

For and on behalf of Cohen Arnold New Burlington House Chartered Accountant & Statutory Auditor 1075 Finchley Road LONDON NW11 0PU

Our audit was completed on 31 October 2024 and our opinion was expressed at that date.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Consolidated Statement of Financial Activities (including Consolidated Income and Expenditure Account)

Year ended 31 January 2024

		Unrestricted	Total Funds	Total Funds
		Funds	2024	2023
	Note	£	£	£
Income and endowments
Donations and legacies	5	124,290	124,290	107,000
Trading subsidiary income	6	10,089,107	10,089,107	8,063,750
Investment income	7	12,543	12,543	2,085
		------------------------------------	------------------------------------	------------------------------------
Total income		10,225,940	10,225,940	8,172,835
		------------------------------------	------------------------------------	------------------------------------
Expenditure
Trading subsidiary expenses	8	9,644,400	9,644,400	7,892,443
Expenditure on charitable activities	10/11	211,693	211,693	201,015
		------------------------------------	------------------------------------	------------------------------------
Total expenditure		9,856,093	9,856,093	8,093,458
		------------------------------------	------------------------------------	------------------------------------
Net income and net movement in funds		369,847	369,847	79,377
Reconciliation of funds
Total funds brought forward		1,315,850	1,315,850	1,236,473
		------------------------------------	------------------------------------	------------------------------------
Total funds carried forward		1,685,697	1,685,697	1,315,850
		===============	===============	===============

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

The notes on pages 15 to 24 form part of these financial statements.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Consolidated Statement of Financial Position

31 January 2024

		2024		2023	2023
	Note	£	£	£	£
Fixed assets
Investments	16		346,231		396,149
Current assets
Stocks	17	597,287		533,881
Debtors	18	259,677		143,989
Cash at bank and in hand		1,356,671		1,057,742
		──────────		──────────
		2,213,635		1,735,612
Creditors: amounts falling due within
one year	19	(874,169)		(815,911)
		──────────		──────────
Net current assets			1,339,466		919,701
			──────────		──────────
Total assets less current liabilities			1,685,697		1,315,850
			──────────		──────────
Net assets			1,685,697		1,315,850
			══════════		══════════
Funds of the charity
Unrestricted funds			1,685,697		1,315,850
			──────────		──────────
Total charity funds	21/22		1,685,697		1,315,850
			══════════		══════════

These financial statements were approved by the board of trustees and authorised for issue on the 31 October 2024 and are signed on their behalf by:

(=F7E90CFFOB48499... by: Mr J Cope Trustee

3F690210504342A... Mr J Perl Trustee

Company Registration Number: 06791806

The notes on pages 15 to 24 form part of these financial statements.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Statement of Financial Position

	31 January 2024	31 January 2024
		2024		2023	2023
	Note	£	£	£	£
Fixed assets
Investments	16		248,823		391,116
Current assets
Debtors	18	15,074		27,611
Cash at bank and in hand		848,112		699,524
		──────────		──────────
		863,186		727,135
Creditors: amounts falling due within
one year	19	(4,800)		(3,240)
		──────────		──────────
Net current assets			858,386		723,895
			──────────		──────────
Total assets less current liabilities			1,107,209		1,115,011
			──────────		──────────
Net assets			1,107,209		1,115,011
			══════════		══════════
Funds of the charity
Unrestricted funds			1,107,209		1,115,011
			──────────		──────────
Total charity funds	21/22	21/22	1,107,209		1,115,011
			══════════		══════════

These financial statements were approved by the board of trustees and authorised for issue on the 31 October 2024 and are signed on their behalf by:

(= by: F7E90CFFOB48499... Mr J Cope Trustee

3F690210504342A... Mr J Perl Trustee

Company Registration Number: 06791806

The notes on pages 15 to 24 form part of these financial statements.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Consolidated Statement of Cash Flows

Year ended 31 January 2024

	Group	Group	Company	Company
	2024	2023	2024	2023
	£	£	£	£
Cash flows from operating activities
Net income/(expenditure) for the year	369,847	79,377	(7,802)	(66,863)
Adjustments for:
Depreciation on fixed asset investment	86,558	99,037	–	–
Other interest receivable and similar income	(12,543)	(2,085)	(27,617)	(24,352)
Government grant income	–	–	–	–
Interest payable and similar charges	95	96	95	96
Accrued expenses	1,560	–	1,560	–
Changes in:
Stocks	(63,406)	(48,051)	–	–
Trade and other debtors	(115,688)	(97,871)	–	(22,267)
Trade and other creditors	56,698	224,353	–	–
	----------------------------------	----------------------------------	----------------------------------	----------------------------------
Cash generated from operations	323,121	254,856	(33,764)	(113,386)
Interest paid	(27,706)	(96)	(95)	(96)
Interest received	40,154	2,085	40,154	24,352
Tax paid	–	–	–	–
	----------------------------------	----------------------------------	----------------------------------	----------------------------------
Net cash provided by/(used in) operating
activities	335,569	256,845	6,295	(89,130)
	==================================	==================================	==================================	==================================
Cash flows from investing activities
Purchase of fixed asset investments	(36,640)	(30,590)	–	–
Additions in subsidiary	–	–	142,293	53,400
	------------------	--------------------	----------------------------------	----------------------------------
Net cash (used in)/provided by investing
activities	(36,640)	(30,590)	142,293	53,400
	=================	==================	==================================	==================================
Net increase/(decrease) in cash and cash
equivalents	298,929	226,255	148,588	(35,730)
Cash and cash equivalents at beginning of
year	1,057,742	831,487	699,524	735,254
	-------------------------------------------	-------------------------------------------	-------------------------------------------	-------------------------------------------
Cash and cash equivalents at end of year	1,356,671	1,057,742	848,112	699,524
	===========================================	===========================================	===========================================	===========================================
Analysis of cash and cash equivalents
Cash in hand	1,356,671	1,057,742	848,112	699,524
Overdraft facility	–	–	–	–
	-------------------------------------------	-------------------------------------------	-------------------------------------------	-------------------------------------------
Total cash and cash equivalents	1,356,671	1,057,742	848,112	699,524
	===========================================	===========================================	===========================================	===========================================

The notes on pages 15 to 24 form part of these financial statements.

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Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee Notes to the Financial Statements

Year ended 31 January 2024

1. General information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Churchill House, 137-139 Brent Street, London NW4 4DJ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)); the Companies Act 2006 and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Kosher Outlet Assistance Limited meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in sterling, rounded to the nearest whole pound which is the functional currency of the entity.

Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiary, Kosher Outlet Ltd on a line-by-line basis. Kosher Outlet Ltd’s financial statements are made up to the same date as the holding company 31 January 2024. A separate statement of financial activities and income and expenditure account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

Going concern

The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, as the trustees have a reasonable expectation that the group has adequate resources to continue in existence for the foreseeable future by meeting its liabilities as they fall due, based on the net current asset position of the company and available sources of finance.

Judgements and key sources of estimation uncertainty

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 25.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

- 15 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

3. Accounting policies (continued)

Income resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably;

• trading subsidiary income from the sales of groceries are recognised when invoiced to the customer which is considered the point of delivery and is measured at the fair value of the consideration received for goods supplied, net of returns, discounts and value added tax;

• 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.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• trading subsidiary expenses comprise of costs relating to the operation of the grocery store which is represented net of VAT.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performancerelated conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Fund accounting

General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Operating lease

The charity classifies the lease with the store premises as operating lease. Lease payments are recognised as an expense over the lease term on a straight-line basis.

- 16 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

3. Accounting policies (continued)

Fixed assets investments

All fixed asset investments are initially recorded at cost.

Shares in the subsidiary company are held at cost as the main purpose of this investment is to provide a service to the community.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold properties	20%
Plant and machinery	20%
Fixtures and fittings	20%
Office equipment	20%

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. At the end of each reporting periods stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement.

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.

Financial instruments

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Trade and other debtors

Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition, trade and other debtors that are classified as receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Trade and other creditors

Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition trade and other creditors that are classified as payable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid.

- 17 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

4. Limited by guarantee

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 £10.

5. Donations and legacies

Donations and legacies
	Total	Total
	Unrestricted	Unrestricted
	Funds	Funds
	2024	2023
	£	£
Donations received	124,290	107,000
	==============	==============

No restrictions were attached to any donations received.

6. Trading subsidiary income

		Total	Total
		Unrestricted	Unrestricted
		Funds	Funds
		2024	2023
		£	£
	Store income	10,089,107	8,063,750
		==============	==============
7.	Investment income
		Total	Total
		Unrestricted	Unrestricted
		Funds	Funds
		2024	2023
		£	£
	Bank interest receivable	12,543	2,085
		========	=========
8.	Trading subsidiary expenses
		Total	Total
		Unrestricted	Unrestricted
		Funds	Funds
	Store expenditure	2024	2023
		£	£
	Cost of sales, distribution and general administrative costs	9,093,597	7,446,970
	Staff costs and employers’ national insurance
	contributions	550,803	445,473
		--------------------------------------	--------------------------------------
		9,644,400	7,892,443
		=====================================	=====================================

- 18 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

9. Staff costs and emoluments

Staff costs and emoluments
	Total	Total
	Unrestricted	Unrestricted
	Funds	Funds
	2024	2023
	£	£
Wages and salaries	506,450	408,984
Employers’ national insurance contributions	33,413	26,714
Staff pension contributions	10,940	9,775
	-------------------------------	-------------------------------
	550,803	445,473
	==============================	==============================

No employee received emoluments of more than £60,000 during the year or in the previous year. The average number of persons employed by the group during the year, including the directors, amounted to 24 (2023: 21). The split between full-time and part-time staff is 16 (2023: 16) and 8 (2023: 5) respectively.

The trustees are considered the key management personnel.

10. Expenditure on charitable activities by fund type

	Total	Total
	Unrestricted	Unrestricted
	Funds	Funds
	2024	2023
	£	£
Charitable activities	202,870	193,875
Support costs	8,823	7,140
	-------------------------------	-------------------------------
	211,693	201,015
	==============================	==============================

11. Expenditure on charitable activities by activity type

			Total	Total
	Activities	Support costs	Unrestricted	Unrestricted
	undertaken		Funds	Funds
	directly		2024	2023
	£	£	£	£
Charitable activities	202,870	–	202,870	193,875
Governance costs	–	8,823	8,823	7,140
	------------------------------	------------------------------	------------------------------	------------------------------
	202,870	8,823	211,693	201,015
	=============================	=============================	==============================	==============================

Included in charitable activities expenditure is £79,000 of grants paid to institutions of which £70,000 was paid to Achisomoch Aid Company Limited. The benefit that these charities provide include provision of basic necessities and financial support to the poor.

- 19 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

12. Analysis of support costs

			Total	Total
			Unrestricted	Unrestricted
			Funds	Funds
		Support costs	2024	2023
		£	£	£
	Governance costs	8,823	8,823	7,140
		----------------------------------	----------------------------------	----------------------------------
		8,823	8,823	7,140
		==================================	==================================	==================================
13.	Auditors remuneration
			2024	2023
			£	£
	Fees payable for the audit of the financial statements		4,800	2,350
	Fees payable for other non-audit services of associates		6,000	5,050
			──────	──────
			10,800	7,400
			══════	══════

14. The results attributable to the parent charity

During the year, the gross income attributable to the parent charity was £201,907 (2023: £131,352) and the net movement in funds was £(7,802) (2023: £(66,863)).

15. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. The charity has not met individual expenses incurred by trustees for services provided by the charity.

16. Investments

Group - Investments in tangible assets

	Land and	Plant &	Fixtures &	Office
	buildings	Machinery	Fittings	Equipment	Total
		£	£	£	£
COST
At 1 February 2023	334,808	294,776	34,718	23,465	687,767
Additions	–	23,092	8,821	27,819	59,732
	─────────	─────────	─────────	─────────	─────────
At 31 January 2024	334,808	317,868	43,539	51,284	747,499
	═════════	═════════	═════════	═════════	═════════
Depreciation
At 1 February 2023	120,531	134,992	22,276	13,819	291,618
Charge for the year	42,855	31,957	4,253	7,493	86,558
	───────	───────	───────	───────	───────
At 31 January 2024	163,386	166,949	26,529	21,312	378,176
	═══════	═══════	═══════	═══════	═══════
Net book value
At 31 January 2024	171,422	150,919	17,010	29,972	369,323
	═══════	═══════	═════════	═══════	═════════
At 31 January 2023	214,277	159,784	12,442	9,646	396,149
	═══════	═══════	═════════	═══════	═════════

- 20 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

16. Investments (continued)

Company - Investment in subsidiary

Shares in UK Group undertaking

	2024	2023
	£	£
Cost or valuation
Acquisition at cost	1	1
Loan advance at 1 February 2023	391,115	444,515
Movement	(142,293)	(53,400)
	───────	───────
At 31 January 2024	248,823	391,116
	=============================	=============================
Impairment
At 1 February 2023 and 31 January 2024	–	–
	═══	═══
Carrying amount
At 31 January 2024	248,823	391,116
	=============================	=============================

The charity charges interest on the loan at a rate of 5% per annum. The charity holds a floating charge over the assets of its subsidiary, Kosher Outlet Ltd.

Analysis of investments at 31 January between funds

	Total Funds	Total Funds
	2024	2023
	£	£
Other
UK Group undertakings	248,823	391,116
	=============================	=============================

The UK Group undertaking represents 100% of the issued ordinary share capital of Kosher Outlet Ltd.

Kosher Outlet Ltd is incorporated and operates a low-cost grocery store in North West London, in line with the parent charity’s charitable purposes of providing affordable Kosher groceries to the Jewish community. The main purpose of this investment is to provide a service to the community.

The results of Kosher Outlet Ltd are shown below for the year ended 31 January 2024:

				2024	2023
				£	£
	Turnover			10,089,107	8,063,750
	Expenditure			(9,661,458)	(7,917,510)
				─────────	─────────
	Profit for the year			427,649	146,240
				===============================	===============================
	Aggregate capital and reserves			578,489	200,840
				===============================	===============================
17.	Stocks
		Group		Company
		2024	2023	2024	2023
		£	£	£	£
	Finished goods	597,287	533,881	–	–
		----------------------------------	----------------------------------	------------------------------	------------------------------

- 21 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

18. Debtors

	Group		Company	Company
	2024	2023	2024	2023
	£	£	£	£
Trade debtors	259,677	143,989	–	–
Other debtors	–	–	15,074	27,611
	----------------------------------	----------------------------------	---------------------	-----------------------------
	259,677	143,989	15,074	27,611
	==============	==============	=========	============
Creditors: Amounts falling due within one year
	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Trade creditors	834,510	797,690	–	–
Other taxation and social security	4,539	1,845	–	–
Other creditors	35,120	16,376	4,800	3,240
	-----------------------------------	-----------------------------------	---------------------------	---------------------------
	874,169	815,911	4,800	3,240
	==============	==============	===========	===========
Financial instruments
The carrying amount for each category of financial instrument is		as follows:
			2024	2023
			£	£
Financial assets measured at amortised cost
Financial assets measured at undiscounted amount net of impairment			1,616,348	1,201,731
			=========================================	=========================================
Financial liabilities measured at amortised cost
Financial liabilities measured at undiscounted amount			874,169	815,911
			======================================	======================================

19. Creditors: Amounts falling due within one year

20. Financial instruments

21. Unrestricted funds

Group
	Balance at			Balance at
	1 February			31 January
	2023	Income	Expenditure	2024
	£	£	£	£
General Funds	1,315,850	10,225,940	(9,856,093)	1,685,697
	===================================	===========================================	===========================================	====================================
Company
	Balance at			Balance at
	1 February			31 January
	2023	Income	Expenditure	2024
	£	£	£	£
General Funds	1,115,011	201,907	(209,709)	1,107,209
	===================================	===================================	====================================	==================================

- 22 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

21. Unrestricted funds (continued)

	Group
		Balance at			Balance at
		1 February			31 January
		2022	Income	Expenditure	2023
		£	£	£	£
	General Funds	1,236,473	8,172,835	(8,093,458)	1,315,850
		===================================	===========================================	===========================================	====================================
	Company
		Balance at			Balance at
		1 February			31 January
		2022	Income	Expenditure	2023
		£	£	£	£
	General Funds	1,181,874	131,352	(198,215)	1,115,011
		===================================	===================================	====================================	==================================
22.	Analysis of net assets between funds
	Group
				Net current	Total Funds
			Investments	assets	2024
			£	£	£
	Unrestricted Funds		346,231	1,339,466	1,685,697
			=============================	=============================	===============================
	Company
				Net current	Total Funds
			Investments	assets	2024
			£	£	£
	Unrestricted Funds		248,823	858,386	1,107,209
			=============================	===========================	===============================
	Group
				Net current	Total Funds
			Investments	assets	2023
			£	£	£
	Unrestricted Funds		396,149	919,701	1,315,850
			=============================	=============================	===============================
	Company
				Net current	Total Funds
			Investments	assets	2023
			£	£	£
	Unrestricted Funds		391,116	723,895	1,115,011
			=============================	===========================	===============================

- 23 -

Docusign Envelope ID: 3686F0F2-DC70-4FF7-8607-F7000285DAD5

Kosher Outlet Assistance Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

23. Statement of financial activities of the charity

The results of Kosher Outlet Assistance Ltd are shown below for the year ended 31 January 2024:

	2024	2023
	£	£
Income and endowments
Donations and legacies	174,290	107,000
Investment income	27,617	24,352
	──────────	──────────
Total income	201,907	131,352
	══════════	══════════
Expenditure
Expenditure on charitable activities	209,709	198,215
	──────────	──────────
Total expenditure	209,709	198,215
	══════════	══════════
	──────────	──────────
Net expenditure and net movement in funds	(7,802)	(66,863)
	══════════	══════════
Reconciliation of funds
Total funds brought forward	1,115,011	1,181,874
	──────────	──────────
Total funds carried forward	1,107,209 ══════════	1,115,011 ══════════

24. Related parties

As reflected in Note 16, Kosher Outlet Ltd is a wholly owned subsidiary of the charity and is also related by virtue of the directors and trustees being common to the charity.

25. Accounting estimates and judgements

Stock

Management considers the nature and condition of the stock held at the year-end as well as the saleability of returned goods in determining an appropriate provision.

Trade debtors

Management uses details of the age of trade debtors and the status of any disputes together with external evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying values.

Operating lease commitments

The charity has entered into a commercial lease as a lessee on its store premises. The classification of such leases as operating or finance lease requires the charity to determine, based on an evaluation of the terms and conditions of the arrangements, whether it retains the significant risks and rewards of ownership of these assets and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation and the physical condition of the assets.

- 24 -