Yeshiva Gedoilah Torah Veyirah Limited
(By Guarantee)
Trustees’ Annual Report And Accounts
For The Year Ended
30 November 2021
Company Number 07452599 Charity Number 1141035
Yeshiva Gedoilah Torah Veyirah Limited
(By Guarantee)
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ annual report | 2 - 4 |
| Independent examiner’s report | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the accounts | 8 - 12 |
| Accountants’ report | 13 |
Page 1
Yeshiva Gedoilah Torah Veyirah Limited
(By Guarantee)
Legal and Administrative Information
Trustees and Directors
B. Berger A. Padwa J. Rothbart
Charity’s Correspondent Address and Registered Office
98 Osbaldeston Road London N16 6NL
Details of Incorporation
The charity was incorporated on 26 November 2010 in England under company registration number 07452599, and was registered with the charity commission on 1 April 2011, governed by its memorandum and articles of association, charity number 1141035
Bankers
HSBC
Independent Examiner
Justin Cowan, FCA Albeck Limited 49 Mowbray Road Edgware Middlesex HA8 8JL
Page 2
Yeshiva Gedoilah Torah Veyirah Limited
(By Guarantee)
Trustees’ Annual Report
for the year ended 30 November 2021
The directors, who are also the trustees, present their annual report along with the accounts of the charity for the year ended 30 November 2021. The trustees confirm that the annual report and financial statements of the company comply with current statutory requirements, the requirements of the company’s governing document, the provisions of the Charities SORP (FRS102) and the accounting policies set out on pages 8-9.
Legal and administrative information set out on page 1 forms part of this report.
Constitution and Objects of the Charity
Yeshiva Gedoilah Torah Veyirah Limited was incorporated on 26 November 2010 in England under company registration number 07452599, and was registered with the charity commission on 1 April 2011, governed by its memorandum and articles of association, charity number 1141035.
The objects of the charity are:
-
The advancement of the orthodox Jewish faith,
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The advancement of orthodox Jewish religious education in particular (but not exclusively) by establishing, maintaining and managing of the talmudical college known as Yeshiva Gedoilah Torah Veyirah in North London,
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To provide or assist in the leisure & recreation facilities in the interest of social welfare for young Jewish people with the aim of improving their conditions of life,
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The relief of poverty amongst members of the Jewish faith
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The advancement of such other objects as are for the benefit of the public and are charitable according to the laws of England and Wales
Trustees and Governance
The trustees in office in the year were as follows:
B. Berger A. Padwa J. Rothbart
The statutory power of appointing new trustees or a new trustee hereof shall be exercisable by the persons who are for the time being the trustees hereof.
There are no policies adopted by the Trustees for the induction and training of Charity Trustees. There are no plans at present to appoint new trustees. The trustees will liaise together as the school grows. At that point there will be a necessity to appoint more trustees and induction / training procedures will be considered then.
Page 3
Yeshiva Gedoilah Torah Veyirah Limited
(By Guarantee) Trustees’ Annual Report
for the year ended 30 November 2021 ( Continued)
Charity’s Activities and Achievements
The charity commenced its activities during 2011 operating a Talmudical College for teenage boys of the orthodox Jewish faith in North London. There are currently approximately 120 boys in the college between the ages of 16 and 18. The trustees are delighted with the interest being shown from the local community and are trying to manage the growth in demand that has occurred over the last 3-5 year period.
As well as providing a religious education in a traditional orthodox setting, the trustees take care to ensure that the general welfare of the boys is catered for. Meals and trips away are provided for the boys and there is a genuine care and concern for the all round development of the boys. One of the highlights of the year is the annual two week summer camp which provided a chance for the boys to relax whilst learning additional skills and developing in a less formal environment.
The trustees would like to take this opportunity to extend their continued gratitude for the hard work that the teachers put in.
The trustees have also made a variety of grants in accordance with the charity’s objects. They aim to distribute 10-20% of funds received in grants to assist other educational institutions and the general relief of poverty. Details of the grants can be found in note 3 to the accounts.
The trustees carried out a small amount of development work on the premises during the yea. The premises continues to provide a pleasant setting and a very positive environment to cater for the all round welfare of the boys.
Public Benefit
The trustees acknowledge the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance on public benefit. All activities undertaken by the charity are for the public benefit. With a focus on providing a much needed resource for the orthodox Jewish community, the organisation’s operation is very much geared to providing benefit to the Jewish and wider community as is highlighted by the activities reported herein.
Investments Policy
The charity holds a current account and a deposit account. The policy of the charity is to continue holding money in the current account for its ongoing expenditure. Surplus funds are held in the deposit account. There is no long term investment plan for these funds. They are held to ensure that there is cover for short term expenditure in the event of a short term shortage of donations received.
Reserves Policy
The charity’s reserves are represented by cash held in the current account. As the size of the college increases there will be more substantial budgetary requirements and funds will need to be held for the longer term. The trustees monitor the reserves position at their monthly meetings. It is the goal
Page 4
Yeshiva Gedoilah Torah Veyirah Limited
(By Guarantee)
Trustees’ Annual Report
for the year ended 30 November 2021 ( Continued)
Reserves Policy ( continued)
of the trustees to get to a position whereby they hold reserves to cover six months expenditure and they are working towards achieving such a position.
Major Risks and Risk Management
The trustees have undertaken a review of the major risks to which the charity is exposed and systems designed to mitigate those risks are considered on an ongoing basis. In addition to the trustees’ monthly meetings, the trustees and other supporters of the charity meet regularly to discuss any issues that arise.
Trustees’ Responsibilities in Relation to the Accounts
Company and charity law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year, which give a true and fair view of the state of the charity’s financial activities during the year and of its financial position at the end of the year.
In preparing those accounts, the trustees are required to:
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a. select suitable accounting policies and then apply them consistently;
-
b. make judgements and estimates that are reasonable and prudent;
-
c. follow applicable UK Accounting Standards and Statements of Recommended Practice, subject to any departures disclosed and explained in the accounts;
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d. prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2011. 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.
Approved by the Trustees and signed on their behalf by:
_______ J. Rothbart - Trustee
13 July 2022
Page 5
Independent Examiner’s Report to the Trustees of
Yeshiva Gedoilah Torah Veyirah Limited (By Guarantee) Company number 7452599 – Charity number 1141035
for the Year Ended 30 November 2021
I report on the accounts of Yeshiva Gedoilah Torah Veyirah Limited for the year ended 30 November 2021 which are set out on pages 6 to 12. This report is made solely to the Charity’s Trustees, as a body, in accordance with Part 16 of the 2006 Companies Act. My examination has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for my examination, for this report, or for the opinions I have formed.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
The charity’s trustees consider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Charities Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Charities Act; and
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to 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 material matters have come to my which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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• the accounts do not accord with such records; or
-
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 Charities SORP (FRS102).
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.
Name: Justin Cowan FCA
13 July 2022
Albeck Ltd
49 Mowbray Road Edgware Middx HA8 8JL
Page 6
Yeshiva Gedoilah Torah Veyirah Limited (By Guarantee) Company number 7452599 – Charity number 1141035
Statement of Financial Activities
for the Year Ended 30 November 2021
| Note | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| Incoming Resources | |||
| Incoming Resources from Generated Funds | |||
| Voluntary Income | (2) | 313,956 | 371,239 |
| Government Grants | - | - | |
| Total Incoming Resources | 313,956 | 371,239 | |
| ______ | ______ | ||
| Resources Expended | |||
| Costs of Generating Funds | 7,517 | 5,800 | |
| _____ | _____ | ||
| Charitable Expenditure | |||
| Grants and donations | (4) | 45,850 | 28,770 |
| Yeshiva running costs | (4) | 334,467 | 283,762 |
| 380,317 | 312,532 | ||
| ______ | ______ | ||
| Governance Costs | (5) | 1,800 | 1,800 |
| _ | _ | ||
| Total Resources Expended | (10, 11) | (389,634) | (320,132) |
| _ | _ | ||
| Net Incoming / (Outgoing) Resources | (10) | (75,678) | 51,107 |
| Total Funds Brought Forward | 450,450 | 399,343 | |
| Total Funds Carried Forward | (10, 11) | £374,772 | £450,450 |
| ====== | ====== |
The notes on Pages 8 to 12 form part of these accounts.
Page 7
Yeshiva Gedoilah Torah Veyirah Limited (By Guarantee) Company number 7452599 – Charity number 1141035
Statement of Financial Position
as at 30 November 2021
| Note | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| Fixed Assets | |||
| Land and Buildings | (6) | 1,101,619 | 1,117,496 |
| _ | _ | ||
| Current Assets | |||
| Cash at Bank and in Hand | 81,786 | 147,089 | |
| Creditors:Amounts falling due within one year | (7) | (758,633) | (764,135) |
| Net current assets | (676,847) | (617,046) | |
| _ | _ | ||
| Total assets less current liabilities | 424,772 | 500,450 | |
| Creditors:Amounts falling after more than one | |||
| year | (8) | (50,000) | (50,000) |
| Net assets | (10, 11) | £374,772 | £450,450 |
| ====== | ====== | ||
| Funds of the Charity | |||
| Called up Share Capital | (9) | - | - |
| Unrestricted Funds | 374,772 | 450,450 | |
| Total Funds | (10, 11) | £374,772 | £450,450 |
| ====== | ====== |
These accounts have been prepared in accordance with the special provisions relating to small within part 15 of the Companies Act 2006 and with FRS102.
For the financial year ended 30 November 2021, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006; and no notice has been deposited under Section 476. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 and preparing accounts which give a true and fair view of the state of affairs of the company at the end of the year and for its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the company.
The accounts were approved on 13 July 2022 and signed on behalf of the board.
________ Director/Trustee
A. Padwa
The notes on pages 8 to 12 form part of these accounts.
Page 8
Yeshiva Gedoilah Torah Veyirah Limited (By Guarantee)
Notes to the Accounts - 30 November 2021
1. Accounting policies
a. Basis of accounting
These accounts have been prepared in compliance with FRS102, ‘The Financial Reporting Standard in the UK and the Republic of Ireland’, the Statement of Recognised Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)) and the Charities Act 2011.
b. Basis of preparation
The accounts have been prepared on the historical cost basis.
c. Going concern
There are no material uncertainties regarding the charity’s ability to continue and, as such, the accounts have been prepared on the going concern basis.
d. Judgements and key sources of uncertainty from estimation
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
e. Fund accounting
General unrestricted funds comprise the accumulated surplus or deficit on the income and expenditure account. They are available for the use at the discretion of the trustees in furtherance of the general objects of the charity.
Restricted funds are subject to specific restricted conditions as imposed by the donors. There are no restricted funds at the year end.
Designated funds are funds which have been set aside at the discretion of the trustees for specific purposes. There are no designated funds at the year end.
f. Donations, voluntary income and investment income
These are accounted for when the charity becomes entitled to the donation and any conditions for receipt are met.
Page 9
Yeshiva Gedoilah Torah Veyirah Limited (By Guarantee)
Notes to the Accounts - 30 November 2021 (Continued)
1. Accounting policies (continued)
g. Tangible Fixed Assets
Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life:
Freehold Buildings
: 2% on cost
h. Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure.
i. Support costs
Support costs are those costs which are common to all areas of the organisation. These are allocated across all areas of activity based on the number of service users for each activity.
j. Governance costs
Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity.
k. Cash flow
The accounts do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement.
2. Voluntary income
| Voluntary income | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Donations received | £313,956 | £371,239 |
| ====== | ====== |
3. Particulars of employees
The average number of employees during the year, calculated on the basis of full - time equivalents, was as follows:
| Number of teaching staff Number of administrative staff |
2021 9 2 11 ====== |
2020 9 2 |
|---|---|---|
| 12 ====== |
No employee received remuneration of more than £60,000 during the year or the preceding year. No trustee received any remuneration, benefit in kind or expense reimbursement in the year or the preceding year.
Page 10
Yeshiva Gedoilah Torah Veyirah Limited (By Guarantee)
Notes to the Accounts - 30 November 2021 (Continued)
4. Charitable activities
Grants and donations
The institutions which received donations from the charity in the year were as follows:
| Number of | Total Value of | |
|---|---|---|
| Name of Institution | Donations | Donations Paid |
| £ | ||
| Amud Hatzdakah Trust | 1 | 3,000 |
| British Friends of Mifal Chesed Trust | 3 | 15,200 |
| Chasdei Ahron | 1 | 8,000 |
| Chasdei Shlomo | 1 | 12,000 |
| Rise and Shine | 1 | 6,000 |
| 44,200 | ||
| Donations to individuals | 1,650 | |
| Total | £45,850 | |
| ===== | ||
| 2021 | 2020 | |
| Yeshiva running costs | £ | £ |
| Advertising | 7,294 | 3,334 |
| Bank charges | 688 | 518 |
| Books | 815 | 555 |
| Cleaning | 5,159 | 2,558 |
| Computer expenses | 125 | 234 |
| Council tax | 3,482 | 3,605 |
| Depreciation | 27,069 | 26,845 |
| Expensed equipment | 10,763 | 7,190 |
| Food and drink | 129,994 | 95,031 |
| Insurance | 2,791 | 3,016 |
| Office expenses | 1,075 | 1,518 |
| Postage | 276 | 189 |
| Professional fees | 1,362 | 974 |
| Programme expenses | 10,667 | 9,390 |
| Rent | 18,393 | 17,551 |
| Repairs and maintenance | 17,003 | 17,736 |
| Carried forward | 236,956 | 190,244 |
Page 11
Yeshiva Gedoilah Torah Veyirah Limited (By Guarantee)
Notes to the Accounts - 30 November 2021 (Continued)
- Charitable activities (continued)
| 4. | Charitable activities(continued) | ||
|---|---|---|---|
| 2021 | 2020 | ||
| Yeshiva running costs (continued) | £ | £ | |
| Brought forward | 236,956 | 190,244 | |
| Stationery | 697 | 477 | |
| Subscriptions | 330 | 870 | |
| Supplies | 4,168 | 5,039 | |
| Telephone | 1,157 | 1,422 | |
| Trips and travel expenses | 13,902 | 13,498 | |
| Utilities | 13,229 | 5,366 | |
| Wages | 64,028 | 66,846 | |
| £334,467 | £283,762 | ||
| ====== | ====== | ||
| 5. | Governance Costs | ||
| Professional Fees | 1,800 | 1,800 | |
| £1,800 | £1,800 | ||
| ==== | ==== |
Governance costs include reporting accountants’ fees of £600 (2020: £600).
| 6. | Tangible fixed assets | |
|---|---|---|
| Freehold Buildings | ||
| Cost | £ | |
| At 1 December 2020 | 1,342,235 | |
| Additions | 11,192 | |
| At 30 November 2021 | 1,353,427 | |
| __ | ||
| Depreciation | ||
| At 1 December 2020 | 224,739 | |
| Depreciation | 27,069 | |
| At 30 November 2021 | 251,808 | |
| _ | ||
| Net book value | ||
| At 30 November 2021 | £1,101,619 | |
| ======= | ||
| At 30 November 2020 | £1,117,496 | |
| ======= |
Page 12
Yeshiva Gedoilah Torah Veyirah Limited (By Guarantee)
Notes to the Accounts - 30 November 2021 (Continued)
7. Creditors: Amounts falling due within one year
8.
| Creditors:Amounts falling due within one year | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Other creditors | 756,833 | 762,335 |
| Accruals | 1,800 | 1,800 |
| £758,633 | £764,135 | |
| ====== | ====== | |
| Creditors:Amounts falling due after more than one | ||
| year | ||
| Bank loans (unsecured) | £50,000 | £50,000 |
| ===== | ===== |
9. Called up share capital
The liability of the members is limited to £1 by guarantee.
10. Funds of the charity
| 10. | Funds of the charity | |||
|---|---|---|---|---|
| Unrestricted | Funds | |||
| £ | ||||
| At 1 December 2020 | 450,450 | |||
| Income Resources | 313,956 | |||
| Resources Expended | (389,634) | |||
| At 30 November 2021 | £374,772 | |||
| ====== | ||||
| 11. | Analysis of net assets between funds | Unrestricted and | Total funds | |
| total funds 2021 | 2020 | |||
| £ | £ | |||
| Fixed assets | 1,101,619 | 1,117,496 | ||
| Current assets | 81,786 | 147,089 | ||
| Creditors due in less than one year | (758,633) | (764,135) | ||
| Creditors due after more than one year | (50,000) | (50,000) | ||
| £374,772 | £450,450 | |||
| ====== | ====== |
12. Related party transactions
There have been no related party transactions in the period that require disclosure.
13. Trustees’ expenses
There were no expenses paid to the trustees in the year other than in cases where the trustees made direct expenditure on behalf of the charity, and this was reimbursed to them.
Page 13
Accountants’ Report
on the Unaudited Accounts to the Trustees of
Yeshiva Gedoilah Torah Veyirah Limited
(By Guarantee)
In accordance with the engagement letter dated 14 December 2019, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the accounts of the company which comprise the Statement of Financial Activities, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.
This report is made solely to the company’s directors, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the accounts that we have been engaged to compile, report to the company’s directors that we have done so, and state those matters that we have agreed to state to them in this 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 company and the company’s directors for our work or for this report.
We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of accounts.
You have acknowledged on the Balance Sheet as at 30 November 2021 your duty to ensure that the company has kept adequate accounting records and to prepare accounts that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the accounts. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the accounts.
Albeck Limited Chartered Accountants
49 Mowbray Road Edgware Middlesex HA8 8JL
13 July 2022