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2021-10-31-accounts

KEREM SHLOIME LIMITED

LIMITED BY GUARANTEE

DIRECTORS’ AND TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

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 2021

The trustees of the charity present their annual report under the Charities Act 2011 and the financial statements for the year ended 31 October 2021 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.

KEREM SHLOIME LIMITED

REPORT OF THE TRUSTEES FOR THE

YEAR ENDED 31 OCTOBER 2021 (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 £792,244 and resources expended were £778,763 resulting in a surplus of £13,481 (2020 - £116,778) 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 2021 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.

KEREM SHLOIME LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2021 (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:

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 31 August 2022 and signed on its behalf.

………………………………..

Trustee

Date:

KEREM SHLOIME LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 OCTOBER 2021

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
Service
TOTAL RESOURCES EXPENDED
NET INCOME
Funds balance brought forward
Funds balance carried forward		 2021
£
792,244
792,244
489,339
89,041
578,380
30,391
93,287
2,627
15,708
2,787
8,294
6,126
36,217
1,320
-
2,670
946
200,383
778,763
13,481
398,594
412,075		 2020
£
703,891
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

There were no recognized gains and losses for 2021 or 2020 other than those included in above Statement of Financial Activities.

The notes form part of these accounts

KEREM SHLOIME LIMITED

BALANCE SHEET AS AT 31 OCTOBER 2021

Note
FIXED ASSET
Furniture and Equipment
4
CURRENT ASSETS
Debtors
Stock
Bank
Less Furlough Grants Received
Amounts due within one year
3
Net Current Assets/Liabilities
Net Assets
FUNDS
Income account		 2021
£
72,636
252,492
18,000
105,770
376,262
-
376,262
(36,823)
339,439
412,075
412,075		 2020
£
40,232
252,492
18,000
144,301
414,793
48,040
399,893
(56,431)
358,362
398,594
398,594

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 31 August 2022 and signed on its behalf by;

………….………………………………………… E P Levy

Director

KEREM SHLOIME LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

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.

2021
£
2.
Wages
Salaries
387,386
Pension
10,167
Outside Assistance & Training
76,844
474,397
Teachers
63
Management
3
66
3.
Creditors:Amounts falling due within one year
Loans
-
Accruals and income received in advance
35,839
Social Security and Other Taxes
984
36,823
4.
Furniture and Equipment
Cost brought forward
40,232
Additions in year
32,404
72,636		 2021
£
387,386
10,167
76,844		 2020
£
363,085
4,013
80,835
474,397 447,933
63
3
66
27,900
23,591
4,940
56,431

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 2021 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:

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:

Bernard Olsberg B Olsberg & Co Institute of Chartered Accountants (England & Wales) Enterprise House 3 Middleton Road Manchester M8 5DT

31 August 2022