REGISTERED COMPANY NUMBER: 07162451 (England and Wales) REGISTERED CHARITY NUMBER: 1136004
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
The North West London Talmudical College
Martin+Heller 5 North End Road London NW11 7RJ
The North West London Talmudical College
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 |
| Detailed Statement of Financial Activities | 10 |
The North West London Talmudical College
Report of the Trustees for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, 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
To maintain a talmudic college or colleges in the north western area of london and elsewhere in the united kingdom for boys and youths of the jewish faith and the provision thereat of teaching and other facilities of jewish religious and ethical studies.
To advance the orthodox jewish religion for the benefit of the public through the holding of prayer meetings, study sessions, lectures, public celebration of religious festivals in accordance with the tenets of the orthodox jewish . religion.
The relief of financial hardship, either generally or individually, amongst the elderly or in conditions of need, hardship and distress within the jewish community by making grants of money for providing or paying for items services or facilities or providing such persons with goods or services which they could not otherwise afford through lack of means.
To promote any purpose that the trustees may decide and that is legally considered charitable.
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.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, memorandum and articles of association incorporated 18 February 2010.
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 Company number
07162451 (England and Wales)
Registered Charity number
1136004
Registered office
5 North End Road London NW11 7RJ
Trustees
S I Freshwater C M Frommer M Stern Rabbi C Freshwater
Company Secretary
C M Frommer
Page 1
The North West London Talmudical College
Report of the Trustees
for the Year Ended 31 March 2024
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
M Stern - Trustee
Page 2
Independent Examiner's Report to the Trustees of The North West London Talmudical College
Independent examiner's report to the trustees of The North West London Talmudical College ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 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 ERROR - relevant professional body must be completed, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A Heller
Martin+Heller 5 North End Road London NW11 7RJ Date: .............................................
Page 3
The North West London Talmudical College
Statement of Financial Activities
for the Year Ended 31 March 2024
| 31.3.24 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 252,090 EXPENDITURE ON Charitable activities Funds expended on the college 775,162 Other 137 Total 775,299 NET INCOME/(EXPENDITURE) (523,209) RECONCILIATION OF FUNDS Total funds brought forward 643,612 TOTAL FUNDS CARRIED FORWARD 120,403 |
31.3.23 Total funds £ 213,277 697,907 139 698,046 (484,769) 1,128,381 643,612 |
|---|---|
The notes form part of these financial statements
Page 4
The North West London Talmudical College
Balance Sheet 31 March 2024
| 31.3.24 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 4 4,960,431 CURRENT ASSETS Cash at bank 392 CREDITORS Amounts falling due within one year 5 (4,840,420 ) NET CURRENT ASSETS (4,840,028 ) TOTAL ASSETS LESS CURRENT LIABILITIES 120,403 NET ASSETS 120,403 FUNDS 6 Unrestricted funds 120,403 TOTAL FUNDS 120,403 |
31.3.23 Total funds £ 4,960,431 9,032 (4,325,851 ) (4,316,819 ) 643,612 643,612 643,612 643,612 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M Stern - Trustee
The notes form part of these financial statements
Page 5
The North West London Talmudical College
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 charitable company, 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 Companies Act 2006. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation 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. 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.
Page 6
continued...
The North West London Talmudical College
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Funds expended on the college Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. TANGIBLE FIXED ASSETS COST At 1 April 2023 and 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 |
Unrestricted funds £ 213,277 697,907 139 698,046 (484,769) 1,128,381 643,612 Freehold property £ 4,960,431 4,960,431 4,960,431 |
|---|---|
continued...
Page 7
The North West London Talmudical College
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors |
31.3.24 £ 1 4,840,419 4,840,420 |
31.3.23 £ - 4,325,851 |
|---|---|---|
| 4,325,851 |
6. MOVEMENT IN FUNDS
| Unrestricted funds General fund Revaluation Reserve TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Revaluation Reserve TOTAL FUNDS |
At 1/4/23 £ (2,356,006 ) 2,999,618 643,612 643,612 Incoming resources £ 252,090 252,090 At 1/4/22 £ (1,871,237 ) 2,999,618 1,128,381 1,128,381 |
Net movement in funds £ (523,209) - (523,209) (523,209) Resources expended £ (775,299) (775,299) Net movement in funds £ (484,769) - (484,769) (484,769) |
At 31/3/24 £ (2,879,215 ) 2,999,618 120,403 120,403 Movement in funds £ (523,209) (523,209) At 31/3/23 £ (2,356,006 ) 2,999,618 |
|---|---|---|---|
| 643,612 | |||
| 643,612 |
continued...
Page 8
The North West London Talmudical College
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 213,277 | (698,046) | (484,769) |
| TOTAL FUNDS | 213,277 | (698,046) | (484,769) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | |||
| At 1/4/22 | in funds | At 31/3/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (1,871,237 ) | (1,007,978 ) | (2,879,215 ) |
| Revaluation Reserve | 2,999,618 | - | 2,999,618 |
| 1,128,381 | (1,007,978 ) | 120,403 | |
| TOTAL FUNDS | 1,128,381 | (1,007,978 ) | 120,403 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 465,367 | (1,473,345 ) | (1,007,978 ) |
| TOTAL FUNDS | 465,367 | (1,473,345 ) | (1,007,978 ) |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 9
The North West London Talmudical College
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Charitable activities Funds expended on the college Support costs Finance Bank charges Total resources expended Net expenditure |
31.3.24 £ 252,090 252,090 775,162 137 775,299 (523,209) |
31.3.23 £ 213,277 213,277 697,907 139 698,046 (484,769) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 10