2021-08-31-accounts - London Rabbinical

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Charity Number 1143411

LONDON RABBINICAL

FINANCIAL STATEMENTS 31 AUGUST 2021

LONDON RABBINICAL FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2021

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

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LONDON RABBINICAL

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 AUGUST 2021

The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 August 2021.

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.

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LONDON RABBINICAL

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2021

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 2021 the Charity had £86,690 of 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

9 June 2022

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LONDON RABBINICAL

TRUSTEES RESPONSIBILITIES

YEAR ENDED 31 AUGUST 2021

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.

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LONDON RABBINICAL

STATEMENT OF FINANCIAL ACTIVITIES for the year ending 31 August 2021

Notes INCOMING RESOURCES Incoming resources from generated funds Investment Income 7 Voluntary Income 2 OTHER INCOME 3 JRS Grant 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 2021 £ £ £ 0 0 227,148 227,148 0 227,148 227,148 19,986 19,986 0 247,134 247,134 4,880 4,880 227,970 227,970 7,871 7,871 0 240,721 240,721 0 6,413 6,413 0 80,277 80,277 0 86,690 86,690	Total 2020 £ 1,261 221,136
		222,397 10,246
		232,643 3,121 218,060 6,187
		227,368 5,275 75,002
		80,277

The Notes form part of the financial statements

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LONDON RABBINICAL

2021 Notes £ £ FIXED ASSETS Investments 7 119,000 CURRENT ASSETS: Cash at bank and in hand 4,738 4,738 CREDITORS: amounts falling due within one year 8 -37,048 Net Current assets/(liabilities) 86,690 NET CURRENT ASSETS: 86,690 FUNDS 9 Unrestricted funds 86,690 TOTAL FUNDS 86,690 Approved by the board of Trustees on: And signed on their behalf by: 09 June 2022 BALANCE SHEET 31-Aug-21	2020 £ £ 119,000 0 0 -38,723 80,277 80,277 80,277 80,277	2020 £ £ 119,000 0 0 -38,723 80,277 80,277 80,277 80,277

		80,277
		80,277
		80,277

Trustee

The Notes form part of these financial statements

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LONDON RABBINICAL

NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 August 2021

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

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

VOLUNTARY INCOME
Donations received OTHER INCOME JRS Grant FUNDRAISING COSTS Fundraising Costs	Restricted Funds £	Unrestricted Funds Total Funds 2021 Total Funds 2020 £ £ £ 227,148 227,148 221,136
	Restricted Funds £ 0	2021 2020 £ £ 19,986 19,986 10,246
		Unrestricted Funds Total Funds 2021 Total Funds 2020 £ £ £ 4,880 4,880 3,121
	0	4,880 4,880 3,121

3 OTHER INCOME

4 FUNDRAISING COSTS

5 COSTS OF CHARITABLE ACTIVITIES

Sudent Grants College running costs Rent Water rates Heat & Light Activities Wages	Restricted Funds Unrestricted Funds Total Funds 2021 Total Funds 2020 £ £ £ £ 68,945 68,945 127,448 66,158 66,158 26,851 24,000 24,000 26,994 328 328 0 5,376 5,376 0 36,600 36,600 4,247 26,563 26,563 32,520
	0 227,970 227,970 218,060

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LONDON RABBINICAL

NOTES TO THE FINANCIAL STATEMENTS

for the year ending 31 August 2021

6 GOVERNANCE COSTS

GOVERNANCE COSTS
Accountancy Professional fees Office Supplies Cleaning Bank charges Sundries Travel INVESTMENTS UK Investment Property	Restricted Funds Unrestricted Funds `£` `£` 624 1,368 1,550 3,814 60 455	Total Funds 2021 `£` 624 1,368 1,550 3,814 60 0 455 7,871 2021 £ 119,000	Total Funds 2020 `£` 576 378 1,894 1,092 0 419 1,828
	0 7,871		6,187
			2020 £ 119,000

7 INVESTMENTS

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
2021 £ Accurals 624 Bank loans and overdrafts Other Creditors 36,424 37,048 MOVEMENTS IN FUNDS At 1.09.2020 Net movement in funds Restricted funds £ £ Grants 0 0 Unrestricted funds General fund 80,277 6,413 TOTAL FUNDS 80,277 6,413 Net movement in funds, included in the above are as follows: Incoming Rescources resources expended Restricted funds £ £ Grants 0 0 Unrestricted funds General fund 247,134 240,721 TOTAL FUNDS 247,134 240,721	2020 £ 576 4,659 33,488
	38,723
	At 31.08.2021 0 86,690
	86,690
	Movement in funds £ 0 6,413
	6,413

9 MOVEMENTS IN FUNDS

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LONDON RABBINICAL

NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 August 2021

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.

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