**REGISTERED COMPANY NUMBER: 07703604 (England and Wales) REGISTERED CHARITY NUMBER: 1147131** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 JULY 2021** ## **FOR** ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Statement of Financial Position**|6|to|7| |**Statement of Cash Flows**||8|| |**Notes to the Statement of Cash Flows**||9|| |**Notes to the Financial Statements**|10|to|17| ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The principal objectives of the charity are: ->The Advancement of the Orthodox Jewish Faith ->The provision of educational services and facilities (Including without prejudice to the generality of foregoing the provision of instructed adventure and other activities.) In order to achieve these charitable objectives, the charity provided activities based learning environment to under privileged Jewish children. ## **Aims, objective and activities for public benefit** The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aims and objectives and planning future activities and setting the grant making policy for the year. The charity was set up to support the activities of religious Jewish organisations especially in the field of education. The trustees identify institutions and organisations which meet its criteria and regularly support a number of these institutions and organisations, which themselves are growing not only in England but also worldwide. The charity is also supportive of organisations which are solely committed to the relief of poverty. Such organisations assist needy Jewish families financially and also through the distribution of basic necessities. The income of the charity is derived from donations. The trustees continued their support of those organisations deemed to promote the objects of this charity. ## **Grantmaking** The charity accepts applications for grants from representatives of various charities, which are reviewed by the trustees on a regular basis. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** During the year under review, the charity provided activity based educational and learning environment to many under privileged Jewish children. The charity also provided donation to various institutions whose objective closely aligned with its own totalling £159,656 (2020 - £222,104). ## **FINANCIAL REVIEW** ## **Principal funding sources** The charity is principally funded by donation from various local business and individual associated with the trustees. ## **Reserves policy** The trustees try to ensure that the charity retains sufficient funds to cover immediate anticipated outgoings. They have contacts at all times with potential donors who are able to assist with the charity's requirements. ## **Going concern** The trustees are confident that the charity will continue in operational existence for foreseeable future. ## **FUTURE PLANS** The charity plans to continue the activities in the coming years subject to incoming resources being maintained at a satisfactory level. Page 1 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association. ## **Recruitment and appointment of new trustees** As set out in the Articles of Association the number of trustees shall be not less than three and not more than ten in number. The charity may by ordinary resolution appoint a person who is willing to act, to be a trustee, either to fill a vacancy or as an additional trustee. A trustee shall cease to hold office by virtue of the Article 48 of Articles of Association. It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures. The quorum for the transaction of the business of the trustees may be fixed by the trustees but shall not be less than the majority of their number or two trustees, whichever is the greater. None of the trustees have any beneficial interest in the charity. ## **Related parties** Related party transaction and balances are disclosed in the notes to the financial statements. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 07703604 (England and Wales) ## **Registered Charity number** 1147131 ## **Registered office** 57 Jessam Avenue Clapton London E5 9DU ## **Trustees** E Tambur S Tambur Mrs M Tambur J Tambur ## **Independent Examiner** M A VENITT A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL Approved by order of the board of trustees on 31 May 2022 and signed on its behalf by: Page 2 YESHIVA GE￿LAH TORAH IEYIRAH SEVEN OAKS LDIITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 J[￿y 2021 S Tambur- Trnsiee Page 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **Independent examiner's report to the trustees of Yeshiva Gedolah Torah Veyirah Seven Oaks Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of A.C.A which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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. M A VENITT A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL 31 May 2022 Page 4 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2021** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
**Charitable activities**
4
Charitable
Other
**Total**
**NET INCOME**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|31.7.21
Unrestricted
fund
£
997,993
-
997,993
678,902
51,087
729,989
268,004
-
268,004
1,335,080
1,603,084|31.7.20
Total
funds
£
892,338
45,000| |---|---|---| |||937,338
751,870
48,841| |||800,711| |||136,627
975,435| |||1,112,062
223,018| |||1,335,080| The notes form part of these financial statements Page 5 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **STATEMENT OF FINANCIAL POSITION 31 JULY 2021** |Notes
**FIXED ASSETS**
Tangible assets
11
**CURRENT ASSETS**
Debtors
12
Cash at bank
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
14
**NET ASSETS**
**FUNDS**
16
Unrestricted funds
**TOTAL FUNDS**|31.7.21
Unrestricted
fund
£
3,012,268
1,289
366,931
368,220
(903,481)
(535,261)
2,477,007
(873,923)
1,603,084
1,603,084
1,603,084|31.7.20
Total
funds
£
2,519,135
241,279
36,272
277,551
(597,477)
(319,926)
2,199,209
(864,129)
1,335,080
1,335,080
1,335,080| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 6 continued... ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **STATEMENT OF FINANCIAL POSITION - continued 31 JULY 2021** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved and authorized for issue by the Board of Trustees and authorised for issue on 31 May 2022 and were signed on its behalf by: M Tambur - Trustee S Tambur - Trustee The notes form part of these financial statements Page 7 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2021** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Rent received
Net cash (used in)/provided by investing activities
**Cash flows from financing activities**
New loans in year
Loan repayments in year
Net cash provided by financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.7.21
£
835,978
(10,733)
825,245
(504,380)
-
(504,380)
9,794
-
9,794
330,659
36,272
366,931|31.7.20
£
(40,758)
(21,224)
(61,982)
-
45,000
45,000
50,000
(28,727)
21,273
4,291
31,981
36,272| |---|---|---| The notes form part of these financial statements Page 8 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2021** |**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**| |---|---|---|---| |||31.7.21|31.7.20| |||£|£| ||**Net income for the reporting period (as per the Statement of Financial**||| ||**Activities)**|268,004|136,627| ||**Adjustments for:**||| ||Depreciation charges|11,247|3,377| ||Interest paid|10,733|21,224| ||Rent received|-|(45,000)| ||Decrease/(increase) in debtors|239,990|(199,069)| ||Increase in creditors|306,004|42,083| ||**Net cash provided by/(used in) operations**|835,978|(40,758)| ## 2. **ANALYSIS OF CHANGES IN NET DEBT** ||At 1.8.20|Cash flow|At 31.7.21| |---|---|---|---| ||£|£|£| |**Net cash**|||| |Cash at bank|36,272|330,659|366,931| ||36,272|330,659|366,931| |**Debt**|||| |Debts falling due after 1 year|(864,129)|(9,794)|(873,923)| ||(864,129)|(9,794)|(873,923)| |**Total**|(827,857)|320,865|(506,992)| The notes form part of these financial statements Page 9 **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals 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 consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Governance costs** Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and includes the independent examination fees and costs linked to the strategic management of the charity. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - not provided Improvements to property - not provided Fixtures and fittings - 15% on reducing balance ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 10 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021** ## **2. DONATIONS AND LEGACIES** |31.7.21
£
Donations
993,989
Grants
4,004
997,993
Grants received, included in the above, are as follows:
31.7.21
£
Other grants
4,004
Grants receivable is the amount received under Coronavirus Job Retention Scheme (CJRS).
**INVESTMENT INCOME**
31.7.21
£
Rents received
-
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
5)
note 6)
£
£
£
Charitable
495,351
159,656
23,895
**GRANTS PAYABLE**
31.7.21
£
Charitable
159,656|31.7.20
£
889,424
2,914| |---|---| ||892,338| ||31.7.20
£
2,914
31.7.20
£
45,000
Totals
£
678,902| ||31.7.20
£
222,104| ## **3. INVESTMENT INCOME** ## **4. CHARITABLE ACTIVITIES COSTS** ## **5. GRANTS PAYABLE** continued... Page 11 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021** ## **6. SUPPORT COSTS** |**SUPPORT COSTS**||| |---|---|---| |Management
£
Other resources expended
24,769
Charitable
-
24,769|Information
Governance
Finance
technology
costs
£
£
£
11,471
-
14,847
-
23,895
-
11,471
23,895
14,847|Totals
£
51,087
23,895| |||74,982| ## **7. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||31.7.21|31.7.20| |---|---|---| ||£|£| |Independent examination fees|3,600|3,600| |Depreciation - owned assets|11,247|3,377| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020. ## **9. STAFF COSTS** |**STAFF COSTS**||| |---|---|---| ||31.7.21|31.7.20| ||£|£| |Wages and salaries|13,334|12,433| ||13,334|12,433| |The average monthly number of employees during the year was as follows:||| ||31.7.21|31.7.20| |Admin|2|2| No employees received emoluments in excess of £60,000. continued... Page 12 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021** ## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|892,338| |Investment income|45,000| |**Total**|937,338| |**EXPENDITURE ON**|| |**Charitable activities**|| |Charitable|751,870| |Other|48,841| |**Total**|800,711| |**NET INCOME**|136,627| |**Other recognised gains/(losses)**|| |Gains on revaluation of fixed assets|975,435| |**Net movement in funds**|1,112,062| |**RECONCILIATION OF FUNDS**|| |**Total funds brought forward**|223,018| |**TOTAL FUNDS CARRIED FORWARD**|1,335,080| continued... Page 13 ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021** ## **11. TANGIBLE FIXED ASSETS** |Improvements
Freehold
to
property
property
£
£
**COST**
At 1 August 2020
2,423,656
76,344
Additions
-
448,532
At 31 July 2021
2,423,656
524,876
**DEPRECIATION**
At 1 August 2020
-
-
Charge for year
-
-
At 31 July 2021
-
-
**NET BOOK VALUE**
At 31 July 2021
2,423,656
524,876
At 31 July 2020
2,423,656
76,344
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
VAT
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses||Fixtures
and
fittings
£
53,714
55,848
109,562
34,579
11,247
45,826
63,736
19,135
31.7.21
£
-
1,289
1,289
31.7.21
£
13,910
1,097
799,334
89,140
903,481|Totals
£
2,553,714
504,380|Totals
£
2,553,714
504,380| |---|---|---|---|---| ||||3,058,094|| ||||34,579
11,247|| ||||45,826|| ||||3,012,268|| ||||2,519,135|| |||||31.7.20
£
239,990
1,289| |||||241,279| |||||31.7.20
£
6,615
1,097
573,325
16,440| |||||597,477| continued... Page 14 **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021** ## **14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** |Bank loans (see note 15)
Other loans (see note 15)|31.7.21
£
824,862
49,061
873,923|31.7.20
£
814,129
50,000| |---|---|---| |||864,129| Other creditors includes £50,000 received under Bounceback Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government. ## **15. LOANS** An analysis of the maturity of loans is given below: |Amounts falling due between two and five years:
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.8.20
£
1,335,080
1,335,080
Incoming
resources
£
997,993
997,993||31.7.21
£
49,061
824,862
Net
movement
in funds
£
268,004
268,004
Resources
expended
£
(729,989)
(729,989)|31.7.20
£
50,000
814,129
At
31.7.21
£
1,603,084|31.7.20
£
50,000| |---|---|---|---|---|---| |||||1,603,084|| |||||Movement
in funds
£
268,004
268,004|| ||||||268,004| ## **16. MOVEMENT IN FUNDS** Page 15 continued... ## **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021** ## **16. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |At 1.8.19
£
**Unrestricted funds**
General fund
223,018
**TOTAL FUNDS**
223,018
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
937,338
(800,711)
**TOTAL FUNDS**
937,338
(800,711)|Net
movement
in funds
£
1,112,062
1,112,062
Gains and
losses
£
975,435
975,435|At
31.7.20
£
1,335,080| |---|---|---| |||1,335,080| |||Movement
in funds
£
1,112,062
1,112,062| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.8.19
£
223,018
223,018|Net
movement
in funds
£
1,380,066
1,380,066|At
31.7.21
£
1,603,084| |---|---|---|---| ||||1,603,084| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
1,935,331
(1,530,700)
**TOTAL FUNDS**
1,935,331
(1,530,700)|Gains and
Movement
losses
in funds
£
£
975,435
1,380,066
975,435
1,380,066| |---|---| Page 16 continued... **YESHIVA GEDOLAH TORAH VEYIRAH SEVEN OAKS LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021** ## **17. RELATED PARTY DISCLOSURES** There were no related party transactions or balances that required disclosure for the year ended 31 October 2021. Page 17