CHARrrY REGISTRATION NUMBER: 1153160 Kollel Satmar Unaudited Financial Statements 31 January 2024 BR DLEY Chartered accountants 103 High Street Waltham Cross Herts FNA 7ANJ Kollel Satmar Flnanclal Ststements Year ended 31 January 2024 Page Trustees, annual report Independent examiner's report lo the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements Kollel Satmar Trustees. Annual Report Year ended 31 January 2024 The twstees present th8ir report and the unaudited financial statements of the charity for th8 year ended 31 January 2024. Reforen¢e and admlnlstratlve detalls Reglstered charfty name Kollel Satmar Charlty reglstration number 1153160 Principal office 57 Jessam Avenue London E5 9DU Thè Irustegs Samuel Tambur Yechiel Mich81 Bernat Ind•pendent examlner Charles Goldstein FCA 103 Hlgh Street Waltharn Cross Herts EN8 7AN Structure, governance and manag8menl Kollel Satmar is a Charttable Incorporated Organisation, registered with the Charlty Commission and govemed by its constitutlon dated 31 July 2023. Recrullment and appolntment ol trustses It is not currently the intention of the trustees of the charity to appoint new truslees. shou￿ thls situation change in the future, the truste8s will apply suitable recruitment and Iralnlng procedures. R8lat8d partl8S Related party disclosures are made in the notes to the financial statements. Kollel Satmar Trustèes. Annual Report {¢ontlnu•dJ Year ended 31 January 2024 Oblecllves and a¢tlvltles The principal objectives ol the charity are., 1. Advaiicemeril of the Orthodox Jewish Religion, Orthodox Jewish Education and EdLFcation in general. 2. The relief ol poverty, sickness an(J snlirmtty lor the public benelil. In order lo achieve these obieclives. Ihe charlly collects donations and distributes them lo valo c￿.anIable orgahisallons Elnd indiifjduals whose aim and objeclives closety align with the charily itsell. Publ1¢ Benelll The truslees have laken due heed of Iheir rtiligalions relaling to Public Benefit Duty affecling charilies, as well as to their obligaiiDns under the Fqualiiies Ad 2010. The IrLlSlees are satÈsfied that they meet their obligalions. Grantmaking Granls are made 81 Ihe discrelion of the Irustees and in accord8n¢e with the principal objeclives ol the charily. Achlevemenis and performen¢e Dui ing Ihe year under review, Ihe ¢liar¢ly received donailons amounting to £999.44412023: £702.9551 and made conlribthions lo chaYitabEe aclivilies totalling £1.052.627 {2023: £768.544). Financial review The charity is prlncipally funded through finanual support of individuals and entilies close to the trustees. ReseNes policy The charitys reserves policy is to hold suffiGlent unrestricled funds to meel Ihe ongoing linancial obligation and charilable commitmènts loi the period of a month. Plans for fulure perlods No changes are envisaged for the lulure. The trLiStees' annual report was approved on 28 November 2024 and signed on behalf of the board ol Iwstees by: Samuel TambLir Trustee Kollel Satmar Indepondenl Examiner's Report to the Trusiees of Kollel Satmar Year ended 31 January 2024 I reporl to the trustees on my examination of th8 financial statements of Kollel Satmar Ilhe charity,) for the year ended 31 January 2024. Responslblllties and basis of report As the trustees of the charty you are responsible for the preparation of the linancial statements in accordance with the requirements of the Charities Act 2011 ('Ihe A¢t'l. I report in respect of my examination of the Charty's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions gtven by the Charity Commission under section 14515)Ib) of the ACL Independenl examlner's slal•menl Since the charity's gross income exceeded £250.000 your 8xaminer must be a rnember Of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a memter of the Instilule of Chartered Accountants in England and Wales (ICAEWI, vthich is one of the listed bodies. I have complet&J my examination. I confimi that no materlal matters have come to my attention in connectlon wlth the examination giving me Cause to believe that in any mat8rial respect: accounting records were not kept in respect of the charity as required by section 130 of the the financial statements do not accord with those records: or the financial stalements do not comply with the applicable requirements concerning the form and content of accounts set out in the Chaiiiies {Accounls and Reports) Regulations 2008 other than any requirement that the a￿oUnts give a 'true and fair, view which is not a malter considered as part of an independent examination. I have no concems 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. Charles Goldstein FCA Independent Examiner 103 Hlgh Street Wallham Cross Herts EN8 7AN 28 November 2024 Kollel Satmar Statement of Financlal Activities Year ended 31 January 2024 2024 Unrestricted funds Total lunds Total funds 2023 Income and endowments Donations and legacies Tolal income 999.444 999,444 999,444 702,955 702.955 999,444 Expenditure Expenditure on charitable activities Total expenditure 5,6 1,074,358 1.074.358 1.074,358 1,074,358 825,097 825,097 Nel expendlture and net movemenl in funds {74.914) {74.914) 1122.142) Reconclliatlon ol funds Total funds brought forward Total funds Carrfed forward {103,170) (103,170) 18,972 (178.084) 1178.084) (103.170) The statement of financial activities includes all gains and losses recognised in the year. All incom8 and expenditu￿ derive from continuing activities. The noles on pages 7 to 11 form part ol these financial statsment8. Kollel Satmar Statement of Financial Posltion 31 January 2024 2024 2023 Note Currenl assets .Deblors Cash al bank and in hand 10 1.455 32.898 2Q,668 468 34.353 21.IS6 Creditors: amounts falling due wlthln one year Net current Ilabllllies 11 212,437 124.306 178,084 103.170 Total assets less current liabilities {178,0841 (103.170) 1178,0841 {103,170) ljet Ilabilltles Funds of th? charity Unrestrict8d lunds (178.0841 (103.1701 1178.084) 1103.1701 Totsl charlty lunds 12 Thèse flnancial statements were approved by the board of trustees and authorised lor 1ssU8 on 28 November 2024, and are signed on behalf ol the board by: Samuel Tambur Trustee The notrs on page5 7 to 11 form part ol the8e Ilnanclal staiemenlg. Kollel Satmar Stalemenl of Cash Flows Year ended 31 January 2024 2024 2023 Cash flows from operating actlvlties Net expenditure {74.914) {122,142) Adjustments lor.. Interest payabl8 and similar charges Accrued {income)lexpenses 121 {2.550) 33 3,450 Changes In.. Trade and other debtors Trade and other creditors 19,213 90,681 (20,668) 120.856 Cash generated from operations 32,551 118.471) Interesi paid Nel cash fromllused in) operating activiiies (121) 32.430 (33) (18.504) Net increasel{decrease) In cash and cash equlvalenls Cash and cash equivalents al beginning of year Cash and cash equlvalenls at end ol year 32,430 468 {18,504) 32,898 {18,504) Th8 nole6 on pages 7 to 11 fomi part of thosè flnanclal gtstements. Kollel Satmar Notes to the Financial Statements Year ended 31 January 2024 General Information The charity is a public benefit entity and a registered charity in England and Wales arKI is unincorporated. The address of the principal office is 57 Jessam Avenue. London, E5 9DU. Statement of compllance These financial statements have been prepa￿1 in compliance with FRS 102, The Financial ReportirNJ Standard applicable in the UK the Republic of. Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance Viith the Financial Reporting Standard applicable in the UK and R8public of Ireland (FRS 102) {Charities SORP {FRS 102)) and the Charities Act 2011. Accountlng pollcles Basls ol preparatlon The flnanclal slatemenls have been prepared on the hlstorical cost basis, as modified by the revaluation of c8rtain financial assèts and liabilities and investment propertles measured at fair value through Income or expenditure. The flnanclal statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainties aboLrt the charitys abilty to continue. Judgements and key sources of estimation uncertalnly There are no judgements and eslimales. Fund aecountlng Unrestrict￿￿ funds are available for use at the discrelion of the trustees to further any of the charitys PUTPOS8S. Designated funds are unreslricted funds earmarked by the trust88s for partlcular future project or commitment. Restrlcted fu￿lS are subjected to restrictions on their expendlture d8clared by the donor or through the t@mis of an appeal. and fall inlo one of two sub-classes: restricted income funds or endowment funds. Kollel Satmar Notes lo the Flnanclal Statomenls {conWnu Year ended 31 January 2024 Accountlng policies (6onUnued) Incoming resources All incoming resources are included in the slatement of financial activities when entitlement has passed lo the charity,. it is probable that the economic benefils associated with the transactton will Ilow to the charity and the amount can be reliably measured. The following speGrfic Fxjlicies are applied to particular categories of income: income trom donations or grants is recognised when there is evidence of entillement to the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and entillement is established. income from donated goods is measured at the fair value of thg goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the dOI￿r or the estimated resale value. Donated facilities and services are recognised in Ihe accounts when received Ff the value can b8 reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognlsed with the delivery of the contracted service. This is classified as unrestricted funds unl8ss there is a contractual requirement for it lo be spent on a particular purpose and returned If unspent, in which cas8 t may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannol be fully recovered. and is classified under headlngs of the statement of flnanclal actlvlties to which it relates: expenditure on raising funds includes the costs of all fundraising activities, 8venls. non- charitable trading activities, and the sale of donated gocds. expenditure on charitable activities incl￿eS all costs incurred by a charity in undertaking activiiies that further ils charitable aims for the benefit of its beneficiaries, including those SUF¥)Ort costs and costs relating to the governance of the charity aFPOrtioned to charitable activities. other expenditure indudes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expendilure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to Ihal activity. Shared cosls are apporiioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Flnanclal instruments A financial asset or a finan¢lal Ilabilty is recognised only when the charty 1￿comeS a paty to the contractual provisions of the instrument. Basic financial instruments ar8 initially r8cognised at the amount receivable or payable including any related transaction costs. Kollel Salmar Notes to Ihe Flnanclal Statemenls (wntlnued) Year ended 31 January 2024 Aecountlng pollcle8 (contIn￿d) Flnanclal Instruments (conllnu•d) Current assets and cu￿ent liabilities are subsequently measured at the cash or other consideration expecled to be paid or received and not discounted. Debt instruments are subsequenty measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investment is subsequently measured al fair value with changes in fair value recognised in inGorne and expenditure. All other such investments are subsequenlly measured at cost less impairment. 0th8r financial instrumenls. including derivatives, are initially re¢ognis8d at fair value. unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present valu8 of the future payments discounted at a market rate of interest for a similar debt inslrument. Other financial instruments are subs8quently measured at fair value, wlth any changes recognised in the statement of financial activilles, with the exception of hedging instnjments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objectlve evidence of impairment at the end of each reporting date. If there is objective evidence of impairment. an impairment loss is recognised under the 8ppropriate heading in the statement of flnancial activiti8s in which the initial gain was reccgnised. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assess￿ individually for impairTnenL Other financial assets are ef(her ass8ssed individually or grouped on the basis of similar credit risk characleristics. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacles UnTestricted Tolal Fun(ts Unrestricted Total Funds Funds 2024 Funds 2023 Donallons Donations 999.444 999.444 702.955 702,955 Expendilure on charltable actlvllles by fund type Unrestricted Total Funds Unrestricted Total Funds FurKIs 2024 Funds 2023 Charitable activities Support costs 1.052,627 21,731 1,074.358 1,052,627 21,731 1.074,358 823.164 1.933 823,164 1,933 825.097 825,097 Kollel Satmar Notes to the Flnancial Slatements (conllnuod) Year ended 31 January 2024 6. Expendllure on charltable activilies by acllvlly type Activities urKlertaken directly Support costs Total funds 2024 Total fund 2023 Charitable activitles Governance costs 1,052,627 1,052,627 21,731 1,074,358 823,164 1,933 825,097 21,731 21,731 1,052.627 Independent examination 18es 2024 2023 Fees payable lo Ihe independent examiner for: Independent examination of the financial statements 900 1,800 Staff costs The average head count of employees during th8 year was Nil {2023: Nil). No employee received employee benefits ot more than £60.000 during the year (2023.. Nil). Trustee remunerallon and expense8 There We￿ no trustees, remuneration or other benefits during the year ended 31 January 2024. There wer8 no trustees. expenses paid for during the year ended 31 January 2024. 10. Debtors 2024 2023 Other debtors 1,455 20,668 11. Creditors: amounls falllng due withln one year 2024 2023 Accruals and deferred income Other cr8ditors 900 211,537 3,450 120,856 124,306 212.437 Kollel Satmar Notes to the Flnanclal Statements (contlnuedl Year ended 31 January 2024 12. Analysis of charilable funds Unrestricted funds At 31 J8nuary 2 024 1 February 20 Income Expenditure General funds (103,170) 999.444 (1,074,358) (178.084} At 1 February 20 22 At 31 January 20 23 Income Expenditure General funds 18,972 702,955 {825.097} {103,1701 13. Analysls ol net assets between funds Unr8Stricled Total Funds Funds 2024 Current assets Creditors less than 1 year Net Ilabllltleg 34,353 34,353 1212,437) (212.4371 1178.084) 1178,084) Unr8stricled Total Funds Funds 2023 Current assets Creditors less than 1 year Net liabilltles 21,136 21,136 (124,306) (124.306) (103,1701 1103,170) 14. Anatysis of changes In net debt At At l Feb 2023 Cash flows 31 Jan 2024 Cash at bank and in hand 468 32,430 32,898 15. Relatsd parties There were no related party transactions during the year ended 31 January 2024. 11