## **SATMAR TORAH TRUST LTD** (Limited by guarantee) ## Financial Statements For the period 31 January 2024 Company Number 08445194 (England and Wales) Charity number 1151807 **Whiteside and Davies Chartered Certified Accountants** 158 Cromwell Road Salford M6 6DE **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 Page 2 ## **Contents** ||**Page**| |---|---| |Charity Information|3| |Report of the Directors/Trustees|4 - 6| |Independent Examiner's Report|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes forming part of the financial statements|10 - 12| **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 Page 3 ## **Charity Information** ## **Board of Trustees and directors** Chaim Shimen Lebrecht Joel Grunhut Berusch Krausz Yidel Weissman Eliezer Weissman ## **Registered address** 158 Cromwell Road 158 Cromwell Road Salford M6 6DE ## **Operating address** 7 Cliff Grange Bury New Road Salford M7 4EZ ## **Charity Number** 1151807 ## **Company Registration Number** 08445194 ## **Accountants and Independent examiner** David Pollak Whiteside and Davies Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE ## **Bankers** Cashplus Bank Cottons Centre, Cottons Lane London SE1 2QG Page 4 ## **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Report of the Directors/Trustees** The Directors/Trustees have pleasure in presenting their Report and Financial Statements of the Company/Charity for the period from 1 April 2022 to 31 January 2024. The financial statements have been prepared in accordance with the accounting policies set out in the accounts and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102)" . ## **Trustees and Governors** The Trustees in office throughout the year are listed on page 2. They are all also directors for the purposes of company law. All trustees give of their time freely and no trustee remuneration was paid in the year. ## **Reference and Administration** Reference and Administration details are shown in the schedule of members of the board and professional advisers on page 2 of the financial statements. ## **Structure, governance and management** SATMAR TORAH TRUST LTD is a charity constituted as a company limited by guarantee and as such, is governed by its memorandum and articles of association. The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors'/ trustees' meetings. ## **Charitable Objects** The charity/company is established for the purpose of: To relieve the physical, emotional and psychological pain and stress of people who are sick, disabled, handicapped, in poor physical or mental health and elderly by the provision of support, sustenance, medical and financial assistance, facilities, counselling and services for such persons. The promotion and protection of good physical, mental and emotional health by the provision of counselling, guidance and support. The relief of financial hardship to families affected by sickness, poor physical or mental health. ## **Achievements** During the year, the charity received all of its income from voluntary donations received. All grants made by the Charity were charitable in accordance to Charity Commission guidance and with the charity's objects totalling £132,139 (2023: £54,320) was distributed. The trustees are grateful to the donors for the increased income that enabled the large increase in distributions. Page 5 ## **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Report of the Directors/Trustees (continued)** The trustees plan to continue making similar grants and to ensure that an appropriate level of reserves is maintained. In setting objectives and reviewing the Charity's aims and plans, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. ## **Risk Management** The Trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the investments and finance of the Charity. The Trustees are satisfied that these systems and procedures mitigate any perceived risks. ## **Going Concern** The accounts have been prepared on a going concern basis as the directors have been assured of the continuing support from the company/charity's creditors. The trustees are confidant that these loans are indeed long term and the creditors are committed to not take any action for the recovery of these loans if the continued operation of the charity / company is compromised. ## **Reserves Policy** The trustees retain reserves of £2,000 and where appropriate, consolidate funds in order to enable the charity to meet future needs or to make more substantial grants which they feel to be appropriate. ## **Responsibilities of the Directors/Trustees** Company Law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the Balance Sheet date, and of its incoming resources, including income and expenditure for the financial year. Page 6 ## **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 ## FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Report of the Directors/Trustees (continued)** ## **Financial statements** In preparing those financial statements, the Directors/Trustees should follow best practice and - a. Select suitable accounting policies and apply them consistently. - b. Make judgments and estimates that are reasonable and prudent. - c. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements. - d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation. The Directors/Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Directors/Trustees to ensure that the financial statements comply with the Company Law. The Directors/Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities. Approved by The Directors/Trustees on 5 December 2024 Yidel Weissman - Director and Trustee Page 7 ## **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Independent Examiner's Report to the Trustees** I report on the financial statements of SATMAR TORAH TRUST LTD for the period ended 31 January 2024. ## **Responsibilities and basis of report** As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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** 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 charity as required by section 386 of the 2006 Act; or **2.** the financial statements do not accord with those records; or **3.** the financial statements 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 financial statements 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. David Pollak Whiteside and Davies Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE Date: 5 December 2024 Page 8 COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 ## **SATMAR TORAH TRUST LTD** ## CHARITY NUMBER 1151807 ## FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Statement of Financial Activities** |**Incoming Resources**
**Expenditure**
Charitable Activities
**Gross Income**
**Governance costs**
**Support costs**
**Net income / surplus for the year**
**Fund balances at brought forward**
**Fund balances carried forward**|_Notes_
_10_
_11_
_12_
_13_|**_2023_**
**_£_**
**174,580**
**(132,138)**
**42,442**
**(1,540)**
**(27,085)**
**13,817**
**0**
**13,817**|10 Months
_2023_
_£_
49,306
(54,320)| |---|---|---|---| ||||(5,014)
(971)
(2,400)| ||||(8,385)| ||||0| ||||(8,385)| **SATMAR TORAH TRUST LTD** Page 9 ## COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 ## FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Balance Sheet At 31 January 2023** |**BalaAbbreviated Balance Sheet**||||| |---|---|---|---|---| |**Fixed Assets**
**Current Assets**
Cash at Bank
**Creditors**
Amounts due within one year
**Net current assets**
**Net Assets**
**Accumulated Funds**
Unrestricted funds|_Notes_
7
_8_
_9_|**_2023_**
**_2023_**
**_£_**
**25,268**
**2,854**
**(1,100)**
**1,754**
**27,022**
**27,022**|_2023_
_2023_
_£_
9,600
4,505
(900)
3,605
13,205
13,205|| |||||| |||||| |||||13,205| In approving these financial statements as directors of the company we hereby confirm: - a. that for the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006 ; - b. that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the year ended 31 January 2024; and - c. that we acknowledge our responsibilities for: 1. ensuring that the company keeps accounting records which comply with Section 386 ; and 2. preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. Approved by the board and signed on behalf of them all. 05 December 2024 Yidel Weissman - Director and Trustee The notes on the attached pages form part of the accounts Page 10 ## **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Notes to the Accounts** ## **1. Principal Accounting Policies** ## Basis of Accounting The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in h UK d ROI (FRS 102)" The Charity is a Public Benefit Entity as defined by FRS 102 ## Cash Flow The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement. ## Donations and Fund Accounting Donations and Grants received for the general and main purposes of the Charity are included as unrestricted funds in the Statement of Financial Activities when receivable. Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees. ## Resources Expended Resources expended are accounted for on an accruals basis. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. The irrecoverable element of VAT is included with the item of expense to which it relates. ## **2. Taxation** The Charitable Company is exempt from taxation on its charitable activities. ## **3. Incoming Resources** The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK. ## **4. Company limited by Guarantee** The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. ## **5. Control** The company is incorporated for charitable purposes and has no controlling party. ## **6. Going concern** There are no material uncertainties about the charity's ability to continue. **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 CHARITY NUMBER 1151807 Page 11 ## FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Notes to the Accounts (continued)** ## **7 Tangible fixed assets** |**Furniture,**
**fixtures and**
**fittings etc**
**£**
**Cost**
**15,000**
Additions
**21,985**
Disposals
**-**
**36,985**
**Depreciation**
**5,400**
Charge for the period
**6,317**
**11,717**
**Net book value**
**25,268**
**9,600**
**_2023_**
**_2023_**
**_£_**
**_£_**
**8.**
**Creditors**Amounts due within one year
Accrued expenses
**1,100**
**900**
**1,100**
**900**
**Total**
**Total**
**Charitable funds**
**Charitable funds**
**_£_**
**_£_**
**9.**
**Unrestricted funds**
**13,205**
**21,590**
Net surplus for the year
**13,817**
**(8,385)**
**27,022**
**13,205**
At 01 February 2023
At 31 January 2023
At 01 February 2023
At 01 February 2023
At 31 January 2023
At 31 January 2023
At 31 January 2023
At 31 January 2022||**_2023_**
**_£_**
**900**| |---|---|---| |||**900**| ||**13,205**|| Page 12 ## **SATMAR TORAH TRUST LTD** COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 08445194 ## CHARITY NUMBER 1151807 ## FINANCIAL STATEMENTS FOR YEAR ENDED 31 JANUARY 2024 ## **Notes to the Accounts (continued)** |**_2023_**
**_2023_**
**_Total_**
**_Total_**
**_£_**
**10. Incoming Resources**
Donations Received
**174,576**
Interest Received
**4**
**174,580**
**11. Resources Expended**
Charitable Activities
_Cost of Activities In Furtherance_
_of the Charity's Objects_
Grants and donations paid
to UK registered charities
Medical and financial assistance
**(132,138)**
**(132,138)**
**12. Governance Costs**
Accountancy/ Independent Examiner fe
**(1,200)**
Bank charges and interest
**(340)**
**(1,540)**
**13. Support costs**
Consultancy fees
**(2,950)**
Fundraising costs
**(1,894)**
Wages and salaries
**(13,843)**
Other legal and professional fees
**(984)**
Repairs and maintenance
**(990)**
Subscriptions
**(107)**
Depreciation
**(6,317)**
**(27,085)**
**Total Funds Expended**
**(160,763)**
**Accumulated Funds**
Net income / surplus for the year
**13,817**
Balance brought forward
**13,205**
Balance carried forward
**27,022**|10 Months
10 Months
_2023_
_2023_
_Total_
_Total_
_£_
49,306
(54,320)
-54320
(900)
(71)
(971)
0
0
0
0
0
0
(2,400)
(2,400)
(57,691)
(8,385)
21,590
13,205|10 Months
10 Months
_2023_
_2023_
_Total_
_Total_
_£_
49,306
(54,320)
-54320
(900)
(71)
(971)
0
0
0
0
0
0
(2,400)
(2,400)
(57,691)
(8,385)
21,590
13,205| |---|---|---| |||| |||(8,385)
21,590| |||13,205|