## 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<br>Incoming Resources<br>Donations Received<br>Less Resources Expended<br>Direct Charitable Expenditure<br>Grants<br>Rent & Rates<br>Light & Heat<br>Requisites<br>Repairs, Maintenance & Cleaning<br>Printing, Postage, Stationery, Advertising & Sundry<br>Travel<br>Professional Fees<br>Bank Charges<br>TOTAL RESOURCES EXPENDED<br>Income Balance<br>Balance B/f<br>Balance C/f|2024<br>£<br>51,270<br>7,880<br>6,135<br>-<br>8,260<br>5,704<br>2,503<br>1,000<br>1,800<br>81<br>33,363<br>17,907<br>12,539<br>30,446|2023<br>£<br>24,215|
|---|---|---|
|||8,250<br>7,241<br>-<br>5,745<br>4,433<br>2,358<br>-<br>-<br>34|
|||28,061|
|||(3846)|
|||16, 385|
|||12,539|



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## TORAS CHAIM 

## BALANCE SHEET AS AT 31 DECEMBER 2024 

|Note2024<br>£<br>Fixed Assets<br>Fixtures & Fittings<br>4,371<br>Library Books etc<br>3,410<br>7,781<br>Current Assets<br>Cash at bank and in hand<br>22,665<br>Creditors:<br>Payable within one year<br>2<br>-<br>Net Current Asset<br>22,665<br>Net Assets<br>30,446<br>Represented by:<br>Unrestricted Funds<br>30,446<br>Signed on behalf of the board of trustees<br>J J SPIRO<br>A Y ADLER<br>Trustee<br>Trustee<br>Dated: 31 October 2025||2023<br>£<br>4,371<br>3,410|
|---|---|---|
|||7,781|
|||5,264<br>(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<br>Bank Overdraft|2024<br>£<br>-<br>-|2023<br>£<br>506<br>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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