07328533
CHARITY REGISTERED NUMBER: 1140795
DARCHEI TORAH LIMITED
DIRECTORS' AND TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
BROOKS & CO. CHARTERED ACCOUNTANTS SALFORD M7 4FR
TELEPHONE: 0161 795 7577 EMAIL: GOLDMANMR@GMAIL.COM WEB: BROOKSANDCOACCOUNTANTSSALFORD.CO.UK
DARCHEI TORAH LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Company Number: | 07328533 |
|---|---|
| Registered Charity Number: | 1140795 |
| Chairman: | A Y Goldman |
| Treasurer: | Y Hassell |
| Director: | A Y Goldman |
| Trustees: | Mr D Lachs |
| Mr N Jaffe | |
| Mr I D Leitner | |
| Secretary: | Y Hassell |
| Registered Office: | 7 The Crescent |
| Radford Street | |
| Salford | |
| M7 4JR | |
| Accountants: | Brooks & Co. |
| Chartered Accountants | |
| Salford | |
| M7 4FR | |
| Telephone: 0161 795 7577 | |
| email: goldmanmr@gmail.com | |
| Web: brooksandcoaccountantssalford.co.uk |
DARCHEI TORAH LIMITED
FOR THE YEAR ENDED 31 JULY 2023
CONTENTS
| Page | |
|---|---|
| Charity – Trustees Report | 1 |
| Independent Examiner's Report | 4 |
| Balance sheet | 6 |
| Statement of financial activities | 8 |
| Schedule of funds | 9 |
| Notes | 10 |
DARCHEI TORAH LIMITED
DIRECTORS' AND TRUSTEES' REPORT
FOR THE YEAR ENDED 31 JULY 2023
The Council who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the unaudited financial statements for the year ended 31 July 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in 2005 in preparing the annual report and financial statements of the charity.
Structure, Governance and Management
Governing document
The charity is governed by its Trust deed dated 30 July 2010.
Appointment of trustees
The trustees are responsible for the administration and investment policy of the Scheme. Trustees are appointed and removed by the sponsoring employer.
The trustees who served during the year are set out on the charity information page at the front of these accounts.
Two trustees are elected annually by the members of the company attending the AGM and serve for a period of two years.
Trustee induction and training
New Trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. During the induction day they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Organisation
A board of trustees of up to 5 members, who meet quarterly, administers the charity. There are sub-committees covering development, membership, finance and accounts. A Chief executive is appointed by the trustees to manage the day-to-day operations of the charity.
Related parties
There were no related party transactions.
Relationships with other groups, charities and individuals
There were no relationships with other groups or charities.
Page 1
DARCHEI TORAH LIMITED
DIRECTORS' AND TRUSTEES' REPORT (Continued)
FOR THE YEAR ENDED 31 JULY 2023
Risk policy
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Volunteers
Many volunteers give up their time to help. We are greatly indebted to these volunteers for their commitment and support.
Objectives and activities
The principal activity of the company is that of providing education.
Achievements and performance
Despite the current economic climate, the company has realised a surplus, which is satisfactory.
Financial review
Plans for future periods
It is hoped that all running costs will be covered by course fees and private donations.
Page 2
DARCHEI TORAH LIMITED
DIRECTORS' AND TRUSTEES' REPORT (Continued)
FOR THE YEAR ENDED 31 JULY 2023
Trustees' responsibilities in relation to the financial statements
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and 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 a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of directors and trustees on 28 November 2023 and signed on its behalf.
......................................................... M E Beck, N Jaffe, I D Leitner Trustee.
Page 3
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DARCHEI TORAH LIMITED
FOR THE YEAR ENDED 31 JULY 2023
I report on the accounts which are set out on pages 6 to 14
Respective responsibilities of the Council and examiner
The trustees who are also directors of the company for the purpose of company law are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject under company law and is eligible for independent examination, it is my responsibility to:
Examine the accounts under section 145 of the 2011 Act; follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that, in any material respect, the requirements:
a. to keep accounting records in accordance with section 386 of the Companies Act 2006; and
b. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DARCHEI TORAH LIMITED (Continued)
FOR THE YEAR ENDED 31 JULY 2023
........................................ Dated: 28 November 2023 Brooks & Co. Chartered Accountants Salford M7 4FR Telephone: 0161 795 7577 email: goldmanmr@gmail.com Web: brooksandcoaccountantssalford.co.uk
Page 5
COMPANY NUMBER: 07328533
DARCHEI TORAH LIMITED
BALANCE SHEET
AT 31 JULY 2023
| Note | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Tangible fixed assets | ||||||
| Tangible assets | 4 | 794,389 | 791,372 | |||
| Current assets | ||||||
| Debtors | 5 | 6,600 | 12,100 | |||
| Bank Accounts | 115,706 | 108,736 | ||||
| –––––––– | –––––––– | |||||
| 122,306 | 120,836 | |||||
| Creditors | ||||||
| Amounts falling due within | ||||||
| one year | 6 | 624 | 623 | |||
| –––––––– | –––––––– | |||||
| Net current assets | 121,682 | 120,213 | ||||
| –––––––– | –––––––– | |||||
| Total assets less current liabilities | 916,071 | 911,585 | ||||
| Long term Loans | ||||||
| Santander Mortgage | 6 | (331,565) | (345,166) | |||
| –––––––– | –––––––– | |||||
| Net assets | £ 584,506 | £ | 566,419 | |||
| –––––––– | –––––––– | |||||
| Capital funds | ||||||
| Unrestricted funds | 584,506 | 566,419 | ||||
| –––––––– | –––––––– | |||||
| Total funds | £ 584,506 | £ | 566,419 | |||
| –––––––– | –––––––– |
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Director's responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
The director acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Page 6
COMPANY NUMBER: 07328533
DARCHEI TORAH LIMITED (Continued)
BALANCE SHEET
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006). Approved by the trustees on 28 November 2023 and signed on its behalf.
...................................................
I D Leitner
The annexed notes form part of these financial statements.
Page 7
DARCHEI TORAH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
| Total | Total | ||
|---|---|---|---|
| Unrest'd | Funds | Funds | |
| Funds | 2023 | 2022 | |
| £ | £ | £ | |
| Incoming resources | |||
| Incoming Resources from generated funds: | |||
| Voluntary income and fees | 115,906 | 115,906 | 164,452 |
| Office rental income | 74,136 | 74,136 | 75,766 |
| Grants and sundry income | 53,109 | 53,109 | 47,128 |
| ––––––– | ––––––– | ––––––– | |
| Total incoming resources | 243,151 | 243,151 | 287,346 |
| ––––––– | ––––––– | ––––––– | |
| Resources expended | |||
| Cost of generating voluntary income and fees | 159,733 | 159.733 | 155,224 |
| Sundries | 6,608 | 6,608 | 6,140 |
| Governance costs | 58,723 | 58,723 | 60,819 |
| ––––––– | ––––––– | ––––––– | |
| Total resources expended | 225,064 | 225,064 | 222,183 |
| ––––––– | ––––––– | ––––––– | |
| Net movement in funds | 18,087 | 18,087 |
65,163 |
| Total funds brought forward | £ 566,419 | £ 566,419 | 501,256 |
| ––––––– | ––––––– | ––––––– | |
| Total funds carried forward | £ 584,506 | £ 584,506 | £ 566,419 |
| ––––––– | ––––––– | ––––––– |
Details of Incoming resources and resources used are given in the notes to the financial statements.
Page 8
DARCHEI TORAH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
DETAILED ANALYSIS OF MOVEMENTS IN FUNDS
FOR THE YEAR ENDED 31 JULY 2023
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| General Fund | ||||||
| Balance Brought Forward | 566,419 | 501,256 | ||||
| Surplus for the year | 18,087 | 65,163 | ||||
| ––––––– | ––––––– | |||||
| 584,506 | 566,419 | |||||
| ––––––– | ––––––– | |||||
| Total funds at 31 July 2023 | £ | 584,506 | £ | 566,419 | ||
| ––––––– | ––––––– |
Page 9
DARCHEI TORAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
1. Accounting policies
The financial statements are prepared under the historical cost convention, as modified by the inclusion of investments at market value and in accordance with the Companies Act 2006 and the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005.
Cashflow statement
The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.
Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
2. Turnover
Turnover is attributable solely to continuing operations and derives from one activity that of providing education.
Page 10
DARCHEI TORAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 JULY 2023
3. Staff costs
The average number of persons employed by the company, including director, during the year was as follows:
| 2023 2022 | |
|---|---|
| Administration | 2 2 |
| Teaching | 8 8 |
| –––––– –––––– | |
| 10 10 | |
| –––––– –––––– | |
| The aggregate payroll costs of these persons were as follows: | |
| 2023 2022 | |
| £ £ |
|
| Wages and salaries | 58,723 60,819 |
| –––––– –––––– | |
| £ 58,723 £ 60,819 | |
| –––––– –––––– |
4. Tangible fixed assets
| Land and Buildings £ Cost: At 1 August 2022 788,974 Additions 3,016 ––––––– At 31 July 2023 791,990 ––––––– Net book value: At 31 July 2023 £ 791,990 ––––––– At 31 July 2022 £ 788,974 ––––––– |
Motor Vehicles Total £ £ 2,399 791,373 - 3,016 ––––––– ––––––– 2,399 794,389 ––––––– ––––––– £ 2,399 £ 794,389 ––––––– ––––––– £ 2,399 £ 791,373 ––––––– ––––––– |
|---|---|
Page 11
DARCHEI TORAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 JULY 2023
| 5. | Debtors and prepayments | ||
|---|---|---|---|
| Amounts falling due within one year: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Prepayments and Accrued Income | 4,100 | 4,100 | |
| Outstanding fees | 2,500 | 8,000 | |
| –––––– | –––––– | ||
| £ 6,600 | £ 12,100 | ||
| –––––– | –––––– | ||
| 6. | Creditors | ||
| Amounts falling due within one year:- | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and Deferred Income | 624 | 623 | |
| ––––––– | ––––––– | ||
| £ 624 | £ 623 | ||
| ––––––– | ––––––– | ||
| Amounts falling due after more than one year:- | |||
| Bank Loans | 331,565 | 345,166 | |
| ––––––– | ––––––– | ||
| £ 331,565 £ 345,166 | |||
| ––––––– | ––––––– |
Page 12
DARCHEI TORAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 JULY 2023
| 7. Incoming resources Unrest'd Funds 2023 £ Voluntary income and fees Fees 71,976 Private Donations 43,930 ––––––– 115,906 ––––––– Governance costs Sundry Income 79,259 Grants 47,986 ––––––– 127,245 ––––––– 8. Cost of generating voluntary income and fees 2023 £ Stationery and Books 75 Telecommunications and IT 861 Outsourced service costs and repairs 20,064 Food 16,468 Legal and professional 40,377 Consultancy - Training - Travel and Motor 6,342 Student Support 15,301 Insurance, Light and Heat 35,168 Rent and rates 6,649 Advertising 3,815 Bank charges and loan interest 14,613 ––––––– |
Total Funds 2023 £ 71,976 43,930 ––––––– 115,906 ––––––– 79,259 47,986 ––––––– 127,245 ––––––– 2023 £ 159,733 ––––––– |
Total Funds 2022 £ 116,049 48,403 ––––––– 164,452 ––––––– 89,130 33,764 ––––––– 122,894 ––––––– 2022 £ 163 823 20,244 35,872 5,836 150 5,490 4,318 23,992 31,630 (2,031) 3,846 24,891 ––––––– 155,224 ––––––– |
|---|---|---|
DARCHEI TORAH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 JULY 2023
| 9. Sundries 2023 £ Environmental costs and Health & Safety 4,128 Charitable Donations 2,480 –––––– 10. Governance Costs 2023 £ Wages and salaries - Administration 58,723 –––––– |
2023 £ 6,608 –––––– 2023 £ 58,723 –––––– |
2022 £ 5,440 700 –––––– 6,140 –––––– |
|
|---|---|---|---|
| 2022 £ 60,819 –––––– 60,819 –––––– |
11. Related party transactions
There were no related party transactions.