KEREM SHLOIME LIMITED
LIMITED BY GUARANTEE
DIRECTORS’ AND TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
Company No. 7408775 (England and Wales) Charity Number: 1149401
KEREM SHLOIME LIMITED
Company Information
Directors and Trustees
Rabbi Eliyohu Levy Mr Joseph Leitner Mr Abraham Silbiger
Company Number 7408775 (England and Wales) Charity Number 1149401
Registered Office Room 9, Enterprise House 3 Middleton Road Manchester M8 5DT
KEREM SHLOIME LIMITED
Contents
| Report of the trustees and directors | 4 |
|---|---|
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 |
| Independent Examiners Report | 10 |
KEREM SHLOIME LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020
The trustees of the charity present their annual report under the Charities Act 2011 and the financial statements for the year ended 31 October 2020 and confirm that the latter comply with the requirements of the Act, the Trust Deed and the Charities SORP 2005.
REFERENCE AND ADMINISTRATIVE INFORMATION
The Charity was incorporated under the name Kerem Shloime Limited on 15 October 2010 and is now registered at the Charity Commission. The Trustees, directors, secretary and principal addresses of the Charity are as listed on page 1.
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association dated 14 October 2010.
GOVERNING BODY
The structure of the Charity consists of three trustees who are also directors of the company and a company secretary. The board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing trustee.
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 actively review the major risks which the charity faces on a regular basis and believe that an annual review of the controls over key financial systems, will be sufficient to ensure continuity in the event of adverse conditions.
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
The charity is constituted as a company limited by guarantee and its objects are to encourage and support the furtherance of Orthodox Jewish Religious Education and in line with this objective the charity runs a school, kindergarten and childcare programme.
The charity is organised so that the trustees meet regularly to manage its affairs. The charity is not dependent on voluntary assistance. Administration of the charity is dealt with by the trustees.
It is intended to continue with the Charities activities.
PUBLIC BENEFIT
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity’s aims and objectives and in planning future activities.
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KEREM SHLOIME LIMITED
REPORT OF THE TRUSTEES FOR THE
YEAR ENDED 31 OCTOBER 2020 (CONT…)
AIMS AND INTENDED IMPACT
Within these objects, the trustees’ aim is to continue to run the school and to provide funds.
OBJECTIVES FOR THE YEAR
The aim this year is to continue to give support to the running of the school.
STRATEGIES TO ACHIEVE THE YEAR'S OBJECTIVES
These included meetings with parents and potential donors to obtain funds for the running of the school.
PRINCIPAL ACTIVITIES
The charity collected funds during the year which were sufficient to meet the needs of the school.
GRANT MAKING POLICY
The policy is to provide funds for the running of the school.
REVIEW AND ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR
FINANCIAL REVIEW
Transactions and Financial Position
The Statement of Financial Activities shows a total income of £703,891 and resources expended were £587,113 resulting in a surplus of £116,778 (2019 - £8,551) for the year.
Funds becoming available after the year are sufficient to permit the charity to continue in operation and to carry on the same level of funding for the school.
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
The Trustees consider that the performance of the charity this year has been satisfactory. There were no significant changes in the year. The school was in need of larger premises. It approached a charity who had acquired a property suitable for school use and offered to help finance with appropriate security, the purchase and subsequent refurbishment.
As at 31 October 2020 the charity had lent £252,492 to a charity.
RESERVES POLICY
The trustees intend to fully maintain the school. The trustees are hoping to create a reserve fund.
INVESTMENT POLICY AND OBJECTIVES
Under the Trust Deed the charity has the power to make any investment which the trustees see fit but no investments are currently held.
FUTURE PLANS
The trustee's plans are to continue to collect donations to support the school.
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KEREM SHLOIME LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 (CONT…)
ACCOUNTING AND REPORTING RESPONSIBILITIES
The trustees are required by Charity law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of the year. In preparing those financial statements the trustees are required to:
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(a) select suitable accounting policies and apply them consistently;
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(b) make judgements and estimates that are reasonable and prudent;
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(c) follow applicable accounting standards and statements of recommended practice, disclosing and explaining any departures in the financial statements.
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(d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which 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. They 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.
APPROVAL
The report was approved by the board of directors and trustees on 10 September 2021 and signed on its behalf.
………………………………..
Trustee
Date:
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KEREM SHLOIME LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 OCTOBER 2020
| Note INCOME RESOURCES Donations, childcare, and sundry funding RESOURCES EXPENDED Direct Charitable Expenditure Wages 2 School Requisites and Activities Administration Rent, Rates & Utilities Repairs, Maintenance & Cleaning Telephone Printing, Stationery & Advertising Sundry Legal and Professional Insurance Security Accountancy Bank Charges Computer & Software TOTAL RESOURCES EXPENDED NET INCOME Funds balance brought forward Funds balance carried forward |
2020 £ 703,891 399,893 65,462 465,355 29,931 24,479 2,691 18,917 910 4,422 6,000 28,368 1,560 47 4,433 121,758 587,113 116,778 281,816 398,594 |
2019 £ 652,596 |
|---|---|---|
| 448,475 104,129 |
||
| 552,604 | ||
| 17,487 24,371 1,222 7,778 56 6,886 3,111 28,910 1,560 60 - |
||
| 91,441 644,045 |
||
| 8,551 | ||
| 273,265 | ||
| 281,816 |
There were no recognized gains and losses for 2020 or 2019 other than those included in above Statement of Financial Activities.
The notes form part of these accounts
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KEREM SHLOIME LIMITED
BALANCE SHEET AS AT 31 OCTOBER 2020
| Note FIXED ASSET Furniture and Equipment 4 CURRENT ASSETS Debtors Stock Bank CREDITORS Amounts due within one year 3 Net Current Assets/Liabilities Net Assets FUNDS Income account |
2020 £ 40,232 252,492 18,000 144,301 414,793 (56,431) 358,362 398,594 398,594 |
2019 £ 30,465 |
|---|---|---|
| 275,413 18,000 10,961 |
||
| 304,374 (53,023) |
||
| 251,351 | ||
| 281,816 | ||
| 281,816 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that the members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The Accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 10 September 2021 and signed on its behalf by;
………….…………………………………………
E P Levy
Director
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KEREM SHLOIME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
1 Accounting policies
1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005) and the Charities Act 2011.
1.2 Income
Voluntary income, contributions and donations are accounted for as received by the charity. No permanent endowments have been received in the year.
| 2020 £ 2. Wages Salaries 363,085 Pension 4,013 Outside Assistance & Training 80,835 447,933 Less Furlough Grants Received 48,040 399,893 Teachers 63 Management 3 66 3. Creditors:Amounts falling due within one year Loans 27,900 Accruals and income received in advance 23,591 Social Security and Other Taxes 4,940 56,431 4. Furniture and Equipment Cost brought forward 30,465 Additions in year 9,777 40,232 |
2020 £ 363,085 4,013 80,835 |
2019 £ 381,133 2,514 64,828 |
|---|---|---|
| 447,933 48,040 |
448,475 - |
|
| 399,893 | 448,475 | |
| 63 3 |
||
| 66 | ||
| 27,900 25,123 - |
||
| 53,023 | ||
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
KEREM SHLOIME LTD
I report on the accounts of the Charitable Company for the year ended 31 October 2020 which are set out on pages 7-8.
Respective responsibilities of trustees and examiner
The trustees (who are also directors of the company for the purpose of company law) are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed. The Charity is required by law to prepare accrued accounts and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants (England & Wales).
Having been satisfied that the charity is not subject to audit under company law and is eligible for independent examination it is my responsibility to:
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(i) examine the accounts under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that, in any material respect, the requirements:
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(i) to keep accounting records in accordance with section 386 of the Companies Act 2006;and
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(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2005)have not been met; or
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(b) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Bernard Olsberg B Olsberg & Co Institute of Chartered Accountants (England & Wales) Enterprise House 3 Middleton Road Manchester M8 5DT
10 September 2021
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