Charity Number 1143411
LONDON RABBINICAL
FINANCIAL STATEMENTS 31 AUGUST 2020
LONDON RABBINICAL FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2020
| CONTENTS | PAGE |
|---|---|
| Trustees and professional advisers | 1 |
| Trustees Annual Report | 2-3 |
| Statement of Trustees responsibilities | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7-9 |
LONDON RABBINICAL
TRUSTEES AND PROFESSIONAL ADVISERS
| Registered charity name | London Rabbinical |
|---|---|
| Charity number | 1143411 |
| Principal office | 207 Hale Lane |
| Edgware | |
| Middlesex HA8 9QH | |
| Trustees | Mr S Chontow |
| Mr S Joseph | |
| Independent examiner | JS & CO Accountants Ltd |
| 26 Theydon Road | |
| London | |
| E5 9NA | |
| Bankers | NatWest |
| Temple Fortune branch | |
| 1175 Finchley Road | |
| London NW11 0BE |
- 1 -
LONDON RABBINICAL
TRUSTEES ANNUAL REPORT
YEAR ENDED 31 AUGUST 2020
The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 August 2020.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the financial statements.
THE TRUSTEES
The trustees who served the company during the period were as follows:
Mr S Chontow Mr S Joseph
The day to day affairs are undertaken by Mr Kleiman on behalf of the trustees.
All major decisions are taken collectively by the trustees.
The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is an unincorporated charity registered with the Charity Commission (Registration No. 1146411).The charity is governed by its Trust Deed dated 4th August 2011.
Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
OBJECTIVES AND ACTIVITIES
London Rabbinical is a charity whose objective is the advancement of the orthodox Jewish faith. The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing their aims and objectives, planning future activities, and setting their grant making policies for the year.
ACHIEVEMENTS AND PERFORMANCE
ln line with its objectives, London Rabbinical provided support in the form of grants, for students engaged in Jewish Talmudical studies and have now also rented a building where they teach the students and provide support.
- 2 -
LONDON RABBINICAL
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31 AUGUST 2020
FINANCIAL REVIEW
Sources of funds are through fundraising and the generosity of the public. The grant making policy is based on the trustees' decision following investigation of applicants' circumstances and with special reference to low income. Reserves policy
The trustees aim to build up free reserves to a level of 6 months of student grant funding. As at 31 August 2020 the Charity had £80,277 Unrestricted Funds. Investment Policy
The Charity has now also invested in a property partnership in order to increase its funds. Risk management
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 manage these risks. PLANS FOR FUTURE PERIODS
The aim is to continue to provide support in the form of grants, for students engaged in Jewish Talmudic studies.
Signed on behalf of the trustees
.......................................................... Mr S Chontow Trustee
31 May 2021
- 3 -
LONDON RABBINICAL
TRUSTEES RESPONSIBILITIES
YEAR ENDED 31 AUGUST 2020
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these 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 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 operation.
The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The trustees 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.
- 4 -
LONDON RABBINICAL
STATEMENT OF FINANCIAL ACTIVITIES
for the year ending 31 August 2020
| Notes INCOMING RESOURCES Incoming resources from generated funds Investment Income 7 Voluntary Income 2 OTHER INCOME 3 Total Incoming resources RESOURCES EXPENDED Costs of generating funds: Fundraising Cost 4 Costs of charitable activities Charitable activities 5 Governance costs 6 Total resources expended NET INCOMING/(OUTGOING) RESOURCES RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Total Restricted funds Unrestricted funds 2020 £ £ £ 1,261 1,261 221,136 221,136 0 222,397 222,397 10,246 10,246 0 232,643 232,643 3,121 3,121 218,060 218,060 6,187 6,187 0 227,368 227,368 0 5,275 5,275 0 75,002 75,002 0 80,277 80,277 |
Total 2019 £ 6,352 236,254 |
|---|---|---|
| 242,606 0 242,606 18,193 238,422 5,935 |
||
| 262,550 -19,944 94,946 |
||
| 75,002 |
The Notes form part of the financial statements
Page 5
LONDON RABBINICAL
| 2020 Notes £ £ FIXED ASSETS Investments 7 119,000 CURRENT ASSETS: Cash at bank and in hand 0 0 CREDITORS: amounts falling due within one year 8 -38,723 Net Current assets/(liabilities) 80,277 NET CURRENT ASSETS: 80,277 FUNDS 9 Unrestricted funds 80,277 TOTAL FUNDS 80,277 Approved by the board of Trustees on: And signed on their behalf by: 31 May 2021 BALANCE SHEET 31-Aug-20 |
2019 £ £ 119,000 0 0 -43,998 75,002 75,002 75,002 75,002 |
2019 £ £ 119,000 0 0 -43,998 75,002 75,002 75,002 75,002 |
|---|---|---|
| 75,002 | ||
| 75,002 | ||
| 75,002 | ||
Trustee
The Notes form part of these financial statements
Page 6
LONDON RABBINICAL
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 August 2020
1 ACCOUNTING POLICIES
Accounting convention
These accounts have been prepared in accordance with the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015). In preparing the accounts, the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP) issued in March 2005. Where there is a conflict between the FRSSE and the SORP, the SORP has been adopted in accordance with paragraph 419ff of the SORP.
Incoming resources
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on accurals 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 consitent with the use of resources Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
2 VOLUNTARY INCOME
| trustees. 2 VOLUNTARY INCOME |
|
|---|---|
| Donations received 3 OTHER INCOME Furlough income 4 FUNDRAISING COSTS Fundraising Costs |
Restricted Funds Unrestricted Funds Total Funds 2020 Total Funds 2019 ££££221,136 221,136 236,254 |
| £ 10,246 Restricted Funds Unrestricted Funds Total Funds 2020 Total Funds 2019 ££££0 3,121 3,121 18,193 |
|
| 0 3,121 3,121 18,193 |
5 COSTS OF CHARITABLE ACTIVITIES
| Sudent Grants Donations College running costs Rent Activities Wages |
Restricted Funds Unrestricted Funds Total Funds 2020 Total Funds 2019 ££££127,448 127,448 176,945 0 9,256 26,851 26,851 0 26,994 26,994 0 4,247 4,247 0 32,520 32,520 52,221 |
|---|---|
| 0 218,060 218,060 238,422 |
Page 7
LONDON RABBINICAL
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 August 2020
6 GOVERNANCE COSTS
| 6 GOVERNANCE COSTS |
|||
|---|---|---|---|
| Accountancy Professional fees Postage Office Supplies Cleaning Sundries Travel 7 INVESTMENTS UK Investment Property |
Restricted Funds Unrestricted Funds ££0 576 0 378 0 0 1,894 0 1,092 419 0 1,828 |
Total Funds 2020 £576 378 0 1,894 1,092 419 1,828 6,187 2020 £ 119,000 |
Total Funds 2019 £540 288 54 2,671 1,310 0 1,072 |
| 0 6,187 |
5,935 | ||
| 2019 £ 119,000 |
The fixed asset investment is held primarily to provide an investment return for the charity and is valued at historical cost.
8 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DUE WITHIN ONE YEAR | ||
|---|---|---|
| Accurals Bank loans and overdrafts Other Creditors |
2020 £ 576 4,659 33,488 38,723 |
2019 £ 540 2,672 40,786 |
| 43,998 |
9 MOVEMENTS IN FUNDS
| At 1.09.19 Net movement in funds Restricted funds £ £ Grants 0 0 Unrestricted funds General fund 75,002 5,275 TOTAL FUNDS 75,002 5,275 Net movement in funds, included in the above are as follows: Incoming Rescources resources expended Restricted funds £ £ Grants 0 0 Unrestricted funds General fund 232,643 227,368 TOTAL FUNDS 232,643 227,368 |
At 31.08.2020 0 80,277 |
|---|---|
| 80,277 | |
| Movement in funds £ 0 5,275 |
|
| 5,275 |
Page 8
LONDON RABBINICAL
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 August 2020
10 TAXATION
London Rabbinical is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
Page 9