**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|
**- 1 -**
**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.
**- 2 -**
**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
**- 3 -**
**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.
**- 4 -**
## **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
Page 5
## 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
Page 6
## **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**
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|
Page 7
## 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
Page 8
## 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.
Page 9