Kollel Tchernobel Trust
Report and Financial Statements
For The Year Ended
31 March 2023
Charity Number 1145977
Kollel Tchernobel Trust
| Contents | |
|---|---|
| Page | |
| Legal and Administrative Information | 1 |
| Report of The Trustees | 2 and 3 |
| Statement Of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes forming part of the financial statements | 6 and 7 |
| Independent Exmainer's Report | 8 |
Kollel Tchernobel Trust
Trustees
Mr. Chaim Josefovitz Mr.David Kuflik Mr. Abraham Spitzer Mr.Jacob Ollech
Administration Address
161 Wargrave Avenue South Tottenahm London E5 9AZ
Charity Number 1145977
Page 1
Kollel Tchernobel Trust Report of the Trustees
The Trustees present their annual report with accounts of the Charity for the Year Ended 31 March 2023.
Status and Administration
The Charity, constituted by trust deed, dated 17th February 2012, and is a Registered Charity.
Charitable Objects
1) The advancement of the Orthodox Jewish faith and Orthodox Jewish religious education in particular but not exclusively by supporting the charitable activities of the institute and
- 2) The advancement of such other purposes as are charitable according to English Law.
Trustees
The Trustees in office throughout the year were Mr. Chaim Josefovitz Mr.David Kuflik Mr. Abraham Spitzer Mr.Jacob Ollech
Reserves Policy
The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they feel to be appropriate.
Page 2
Kollel Tchernobel Trust
Report of the Trustees
Responsibilities of the Trustees
Charity Law 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 as at the Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year.
In preparing those financial statements, the Trustees should follow best practice and
a. Select suitable accounting policies and the apply them consistently.
b. Make judgements and estimates that are reasonable and prudent.
c. Follow applicable accounting standards and the Charities SORP 2015, disclosing and explaining any departures in the financial statements.
d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Trustees to ensure that the financial statements comply with the Charity Law.
The Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.
Board Of Trustees
The members of the Board Of Trustees are set out on Page 1.
Political and Charitable Donations
During the year, the Charity made grants and donations of
£47,552 (2022 £56,097)
Approved by The Trustees of Kollel Tchernobel Trust on 11 June 2023, and signed on behalf of them all.
Trustee Mr. Chaim Josefovitz
Page 3
Kollel Tchernobel Trust
Statement Of Financial Activities
For The Year Ended 31 March 2023
| Notes | Unrestricted | 2023 | 2022 | |
|---|---|---|---|---|
| Funds | Total Funds | Total Funds | ||
| £ | £ | £ | ||
| INCOMING RESOURCES | ||||
| Activities to further the Charity's | ||||
| Objects | 2 | 64,897 | 64,897 | 52,600 |
| Investment Income and Interest | 10,000 | 10,000 | 0 | |
| 74,897 | 74,897 | 52,600 | ||
| Donations | 0 | 0 | 0 | |
| Total Incoming Resources | 74,897 | 74,897 | 52,600 | |
| RESOURCES EXPENDED | ||||
| Costs of Generating Funds | ||||
| Fund Raising Costs | 2,700 | 2,700 | 0 | |
| Net Incoming Resources Available | ||||
| For Charitable Application | 72,197 | 72,197 | 52,600 | |
| Charitable Expenditure | ||||
| Cost of Activities In Furtherance | 66,154 | 66,154 | 56,097 | |
| of the Charity's Objects | ||||
| Support Costs | ||||
| Interest on Charity's Property | 3 | 0 | 0 | 0 |
| Governance Costs | 3 | 88 | 88 | 0 |
| Total Charitable Expenditure | 66,242 | 66,242 | 56,097 | |
| Total Resources Expended | 3 | 68,942 | 68,942 | 56,097 |
| Net Movement In Funds | 5,955 | 5,955 | (3,497) | |
| Total Funds 31 March 2022 |
(1,704) | (1,704) | 1,793 | |
| Transfer To / (From) Reserves | 0 | 0 | 0 | |
| Total Funds 31 March 2023 |
7 | £ 4,251 | £ 4,251 | £(1,704) |
Page 4
Kollel Tchernobel Trust
Balance Sheet at 31 March 2023
| Notes | 2023 | 2023 | 2022 | |
|---|---|---|---|---|
| £ | £ | |||
| Current Assets | ||||
| Cash at Bank and in Hand | 9,601 | 3,646 | ||
| 9,601 | 3,646 | |||
| Creditors :Amounts falling due |
||||
| within one year | 5 | (5,350) | (5,350) | |
| Net Current Assets / (Liabilities) | 4,251 | (1,704) | ||
| Total Assets less Current Liabilities | 4,251 | (1,704) | ||
| Net Assets / (Liabilities) | 6 | £ | 4,251 | £(1,704) |
| Unrestricted Funds | 7 | 4,251 | (1,704) | |
| Total Funds | 7 | £ | 4,251 | £(1,704) |
Approved by the Trustees on 11 June 2023, and signed on behalf of them all.
Trustee
Mr. Abraham Spitzer
The notes on pages 6 and 7 form part of these accounts.
Page 5
Notes To The Accounts - 31 March 2023
Kollel Tchernobel Trust
1) Principal Accounting Policies
Basis of Accounting
The Accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (effective from April 2015).
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.
Donations and Fund Accounting
Donations received for the general and main purposes of the Charity is included as unrestricted funds in the Statement of Financial Activities when receivable.
Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.
Resources Expended
Governance Costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The irrecoverable element of VAT is included with the item of expense to which it relates.
| 2) Donations Received Grants Received 3) Analysis of Total Resources Expended Charitable Activities Cost of Activities In Furtherance of the Charity's Objects Donations to Individuals and Communities Advertising Weekend Club Printing Total Cost of Furtherance Of Charitable Objects Support Costs Interest on Charity's Property Governance Costs Cost of Generating Funds Total Cost of Activities In Furtherance of Charitable Objects 4) Governance Costs Bank Charges and Interest |
2023 2022 £ £ 64,897 52,600 10,000 0 £ 74,897 £ 52,600 87,598 2023 2022 £ £ 47,552 56,097 0 0 18,135 0 467 0 66,154 56,097 0 0 88 0 66,242 56,097 2,700 0 £ 68,942 £ 56,097 88 0 £ 88 £ 0 |
|---|---|
Page 6
Kollel Tchernobel Trust
Notes To The Accounts - 31 March 2023
5) Creditors: Amounts falling due within one year
| 2023 | 2022 | 2022 | ||
|---|---|---|---|---|
| £ | £ | |||
| Bank Loans and Overdrafts | 0 | 0 | ||
| Debt due within one year | 0 | 0 | ||
| Other Creditors | 5,000 | 5,000 | ||
| Accruals and Provisions | 350 | 350 | ||
| £ 5,350 | £ | 5,350 |
6) Net Assets of The Charity's Funds
| Net Current | |||||||
|---|---|---|---|---|---|---|---|
| Fixed | Assets / | Long Term | Fund | ||||
| Assets | (Liabilities) | Liabilities | Balances | ||||
| £ | £ | £ | £ | ||||
| Restricted Funds | 0 | 0 | 0 | 0 | |||
| Unrestricted Funds | 0 | 4,251 | 0 | 4,251 | |||
| Total Funds | £ | 0 | £ 4,251 | £ 0 | £ 4,251 | ||
| Unrestricted Funds | Transfers and | ||||||
| Investment | |||||||
| Balance at | Gains | Balance at | |||||
| 31 March 2022 | Income | Expended | and Losses | 31 March 2023 | |||
| £ | £ | £ | £ | ||||
| General Reserve | (1,704) | 74,897 | 68,942 | 0 | 4,251 | ||
| Total Funds | £(1,704) | £ 74,897 | £ 68,942 | £ 0 | £ 4,251 |
7) Unrestricted Funds
8) Related Party Transactions
No trustee nor any person connected with them received any remuneration, or claimed any expense, during the year, from this or any related Charity.
There were no Related Party Transactions in the Year.
Page 7
Independent Exmainer's Report to the Trustees on the Unaudited Accounts of the Charity Kollel Tchernobel Trust For the Year Ended 31 March 2023
We report on the financial statements ofKollel Tchernobel Trust for the Year Ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
These financial statements have been prepared, under the historical cost convention, and in accordance with the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (Issued 2015), and the Financial Reporting Standard for Smaller Entities 102 (effective 2016), and the accounting policies set out therein.
Respective Responsibilities of the Trustees and Independent Exmainer
As described on page 3, the trustees of the charity are responsible for the preparation of the accounts, and they consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 144 of the Act, whether particular matters have come to our attention.
Basis of Independent Exmainer's Report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners.
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. These procedures provide only the assurance expressed in our opinion.
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Opinion
In our opinion, no matter has come to our attention,
-
1) which gives us reasonable cause to believe that, in any material respect, the requirements a) to keep accounting records in accordance with section 130 of the Act; and
-
b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
-
2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date 11 June 2023
Independent Exmainer
C. Rosen & Co
Page 8