TORAS CHAIM FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
CHARITY NUMBER 1147957
TORAS CHAIM
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Contents
Trustees Report Statement of Financial Activities Balance Sheet Notes to the Accounts
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TORAS CHAIM
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees have pleasure in presenting their report and the financial statements of the charitable trust for the year ended 31 December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' 2005 in preparing the financial statements of the Charity.
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees Jacob Joseph Spiro Samuel Kaufman Avrohom Adler
Correspondent B Olsberg
Charity Address B Olsberg & Co
Enterprise House 3 Middleton Road Manchester M8 5DT
Charity Number 1147957 Accountants B Olsberg & Co Enterprise House Chartered Accountants 3 Middleton Road Manchester M8 5DT
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The charity is governed by its Trust Deed dated 11 August 2011 which has not been amended.
GOVERNING BODY
The structure of the Charity consists of three trustees. The board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Trustee Induction and Training
Most trustees are already familiar with the practical work of the charity having received guidance from the existing trustees prior to appointment. New trustees are further encouraged to attend training sessions organised by the charity.
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TORAS CHAIM
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024 (cont…)
ORGANISATIONAL MANAGEMENT
The trustees of the charity are legally responsible for the overall management and control of the charity and meet regularly.
RISK MANAGEMENT
The trustees do not feel that the charity is exposed to any major risks.
OBJECTIVES OF TORAS CHAIM
The Charity runs a college for religious studies and a synagogue.
Toras Chaim is constituted by trust deed dated 11 August 2011 and its objects are:
To promote and advance religion in accordance with the doctrines and principles of orthodox Judaism.
OBJECTIVES FOR THE YEAR
The aim this year is to raise funds for its objectives as above.
STRATEGIES TO ACHIEVE THE YEAR'S OBJECTIVES
These included meetings with potential donors to obtain funds for its objectives.
LEGAL STATUS
The Charitable Trust is constituted by trust deed dated 11 August 2011 which has not been amended.
PRINCIPAL ACTIVITY AND REVIEW OF THE YEAR
The principal activity of the Charity in the year under review was the running of a synagogue and study hall.
ORGANISATION
The charity is managed by a committee of the trustees of the Charity.
PUBLIC BENEFIT
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charitable Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year.
INVESTMENT POWERS AND RESTRICTIONS
The trustees are authorised to make and hold investments using the general funds of the charity, but no investments are currently held.
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TORAS CHAIM
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024 (cont…)
REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS
The financial statements for the year show a net surplus of £17,907 (2023 – deficit of £3,846). The trustees consider the financial position of the charity to be satisfactory. The financial statements conform to current statutory requirements and comply with the Charity's governing documents.
RESERVES POLICY
The charity was holding reserves at the year end to cover running costs and expenditure.
REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS Toras Chaim continued the raising of funds for the purposes of its objects.
RESPONSIBILITIES OF THE TRUSTEES
The Charities Act 2011 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 at the end of the year and of the net incoming or outgoing resources for the year then ended.
In preparing those financial statements, the trustees are required to select suitable accounting policies, as described on page 8, and then apply them on a consistent basis, making judgements and estimates that are reasonable and prudent. The trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will be able to continue.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the detection of fraud and other irregularities.
SIGNED ON BEHALF OF THE TRUSTEES:
……………………………………………… A Y Adler Trustee
Dated: 31 October 2025
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TORAS CHAIM
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
| UNRESTRICTED FUNDS Incoming Resources Donations Received Less Resources Expended Direct Charitable Expenditure Grants Rent & Rates Light & Heat Requisites Repairs, Maintenance & Cleaning Printing, Postage, Stationery, Advertising & Sundry Travel Professional Fees Bank Charges TOTAL RESOURCES EXPENDED Income Balance Balance B/f Balance C/f |
2024 £ 51,270 7,880 6,135 - 8,260 5,704 2,503 1,000 1,800 81 33,363 17,907 12,539 30,446 |
2023 £ 24,215 |
|---|---|---|
| 8,250 7,241 - 5,745 4,433 2,358 - - 34 |
||
| 28,061 | ||
| (3846) | ||
| 16, 385 | ||
| 12,539 |
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TORAS CHAIM
BALANCE SHEET AS AT 31 DECEMBER 2024
| Note2024 £ Fixed Assets Fixtures & Fittings 4,371 Library Books etc 3,410 7,781 Current Assets Cash at bank and in hand 22,665 Creditors: Payable within one year 2 - Net Current Asset 22,665 Net Assets 30,446 Represented by: Unrestricted Funds 30,446 Signed on behalf of the board of trustees J J SPIRO A Y ADLER Trustee Trustee Dated: 31 October 2025 |
2023 £ 4,371 3,410 |
|
|---|---|---|
| 7,781 | ||
| 5,264 (506) |
||
| 4,758 | ||
| 12,539 | ||
| 12,539 |
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TORAS CHAIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 2024
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and comply with the Statement of Recommended Practice 2005 'Accounting and Reporting by Charities'.
Incoming Resources
Voluntary income is received by way of donations and gifts and is included gross in the Statement of Financial Activities.
Unrestricted Fund
Unrestricted funds are donations and other income received or generated for the charitable purposes of the trust.
Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Management and administration
Management and administration costs of the charity relate to the central costs of management including the costs of meetings and statutory compliance.
2. CREDITORS:
| Amounts falling due within one year Bank Overdraft |
2024 £ - - |
2023 £ 506 506 |
|---|---|---|
3. STAFF COSTS
There were no staff costs for the year and the trust did not use any unpaid volunteers. No trustee received or waived any remuneration during the year.
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