REGISTERED CHARITY NUMBER: 1158689
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
FOR
REB SHAYALE'S TZEDUKE
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
REB SHAYALE'S TZEDUKE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
REB SHAYALE'S TZEDUKE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
The trustees present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objects are the advancement of the Orthodox Jewish religion, Orthodox Jewish education and educational in general. The relief of poverty, sickness and infirmity for the public benefit, and other such purposes that are charitable according to English Law as the trustees may determine from time to time.
Significant activities
The financial results of the charity's activities for the period ended 31 July 2024 are fully reflected in the attached financial statements together with the notes thereon.
The trustees are satisfied with the results and activities of the company for the period and do not anticipate any significant changes in the forthcoming year.
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 charity's aims and objectives and planning future activities and setting the grant making policy for the year.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity received donations that amounted to £949,890 (2023: £820,378) and spent £1,022,958 (2023: £729,693) on charitable activities.
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.
FUTURE PLANS
The charity plans to continue its activities subject to satisfactory incoming resources.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1158689
Principal address
60 Fairholt Road London N16 5HN
Page 1
REB SHAYALE'S TZEDUKE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
Trustees
Y B Rosenbaum P S Rottenberg
Independent Examiner
M A Venitt, A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 29 May 2025 and signed on its behalf by:
P S Rottenberg - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REB SHAYALE'S TZEDUKE
Independent examiner's report to the trustees of Reb Shayale's Tzeduke
I report to the charity trustees on my examination of the accounts of Reb Shayale's Tzeduke (the Trust) for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
M A Venitt, A.C.A The Institute of Chartered Accountants in England and Wales
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
29 May 2025
Page 3
REB SHAYALE'S TZEDUKE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 EXPENDITURE ON Charitable activities 3 Charitable activities Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.7.24 Unrestricted fund £ 949,890 1,022,958 - 1,022,958 (73,068) 103,184 30,116 |
31.7.23 Total funds £ 820,378 |
|---|---|---|
| 729,693 9,300 |
||
| 738,993 | ||
| 81,385 21,799 |
||
| 103,184 |
The notes form part of these financial statements
Page 4
REB SHAYALE'S TZEDUKE
BALANCE SHEET 31 JULY 2024
| 31.7.24 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 750 CURRENT ASSETS Debtors 8 - Cash at bank 32,966 32,966 CREDITORS Amounts falling due within one year 9 (3,600) NET CURRENT ASSETS 29,366 TOTAL ASSETS LESS CURRENT LIABILITIES 30,116 NET ASSETS 30,116 FUNDS 10 Unrestricted funds 30,116 TOTAL FUNDS 30,116 |
31.7.23 Total funds £ 750 78,836 25,397 104,233 (1,799) 102,434 103,184 103,184 103,184 103,184 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 May 2025 and were signed on its behalf by:
Y B Rosenbaum - Trustee
P S Rottenberg - Trustee
The notes form part of these financial statements
Page 5
REB SHAYALE'S TZEDUKE
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2024
| 31.7.24 | 31.7.23 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 7,568 | 4,349 |
| Net cash provided by operating activities | 7,568 | 4,349 | |
| Cash flows from financing activities | |||
| New loans in year | - | (1) | |
| Loan repayments in year | 1 | - | |
| Net cash provided by/(used in) financing activities | 1 | (1) | |
| Change in cash and cash equivalents in | |||
| the reporting period | 7,569 | 4,348 | |
| Cash and cash equivalents at the | |||
| beginning of the reporting period | 25,397 | 21,049 | |
| Cash and cash equivalents at the end of | |||
| the reporting period | 32,966 | 25,397 |
The notes form part of these financial statements
Page 6
REB SHAYALE'S TZEDUKE
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2024
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| OPERATING ACTIVITIES | ||
|---|---|---|
| 31.7.24 | 31.7.23 | |
| £ | £ | |
| Net (expenditure)/income for the reporting period (as per the | ||
| Statement of Financial Activities) | (73,068) | 81,385 |
| Adjustments for: | ||
| Decrease/(increase) in debtors | 78,836 | (78,836) |
| Increase in creditors | 1,800 | 1,800 |
| Net cash provided by operations | 7,568 | 4,349 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.8.23 Cash flow At £ £ Net cash Cash at bank 25,397 7,569 25,397 7,569 Total 25,397 7,569 |
31.7.24 £ 32,966 |
|---|---|
| 32,966 | |
| 32,966 |
The notes form part of these financial statements
Page 7
REB SHAYALE'S TZEDUKE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - not provided
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.7.24 | 31.7.23 | |
| £ | £ | |
| Donations | 949,890 | 820,378 |
continued...
Page 8
REB SHAYALE'S TZEDUKE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
3. CHARITABLE ACTIVITIES COSTS
| Charitable activities SUPPORT COSTS Charitable activities |
Direct Costs £ 1,021,158 |
Support costs (see note 4) £ 1,800 |
Totals £ 1,022,958 Governance costs £ 1,800 |
|---|---|---|---|
4. SUPPORT COSTS
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 820,378 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable activities | 729,693 |
| Other | 9,300 |
| Total | 738,993 |
| NET INCOME | 81,385 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 21,799 |
| TOTAL FUNDS CARRIED FORWARD | 103,184 |
continued...
Page 9
REB SHAYALE'S TZEDUKE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
7. TANGIBLE FIXED ASSETS
| COST At 1 August 2023 and 31 July 2024 NET BOOK VALUE At 31 July 2024 At 31 July 2023 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1.8.23 £ Unrestricted funds General fund 103,184 TOTAL FUNDS 103,184 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 949,890 TOTAL FUNDS 949,890 |
31.7.24 £ - 31.7.24 £ 3,600 Net movement in funds £ (73,068) (73,068) Resources expended £ (1,022,958 ) (1,022,958 ) |
Plant and machinery £ 750 750 750 31.7.23 £ 78,836 31.7.23 £ 1,799 At 31.7.24 £ 30,116 30,116 Movement in funds £ (73,068) (73,068) |
|---|---|---|
continued...
Page 10
REB SHAYALE'S TZEDUKE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.22 | in funds | 31.7.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 21,799 | 81,385 | 103,184 |
| TOTAL FUNDS | 21,799 | 81,385 | 103,184 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 820,378 820,378 |
Resources Movement expended in funds £ £ (738,993) 81,385 (738,993) 81,385 |
Resources Movement expended in funds £ £ (738,993) 81,385 (738,993) 81,385 |
|---|---|---|---|
| 81,385 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.22 £ 21,799 21,799 |
Net movement in funds £ 8,317 8,317 |
At 31.7.24 £ 30,116 |
|---|---|---|---|
| 30,116 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 1,770,268 1,770,268 |
Resources expended £ (1,761,951 ) (1,761,951 ) |
Movement in funds £ 8,317 |
|---|---|---|---|
| 8,317 |
continued...
Page 11
REB SHAYALE'S TZEDUKE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2024.
Page 12