COMPANY REGISTRATION NUMBER: 09725776 CHARITY REGISTRATION NUMBER: 1164794
Kehilas Kol Yaakov Limited Company Limited by Guarantee Unaudited Financial Statements
31 August 2023
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2023
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 8 |
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.
Reference and administrative details
Registered charity name Kehilas Kol Yaakov Limited
Charity registration number 1164794 Company registration number 09725776 Principal office and registered 17 Stanley Street office Manchester M8 8SH The trustees C Hibbert S Lederberger C D Nissenbaum S Rose Z Hirsch Independent examiner Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
Kehilas Kol Yaakov Limited is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 10 August 2015 as a company and the company number is 09725776. It was registered as a charity on 10 December 2015 with a charity number 1164794.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
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 operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Objectives and activities
The objectives of the charity are;
To advance the Jewish religion in North Manchester for the benefit of the public through the provision of facilities and holding of prayer meetings, study sessions, lectures and celebrations of Jewish religious events;
The furtherance of other charitable purposes as the trustees shall in their absolute discretion from time to time think fit and is charitable according to the laws of England and Wales.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Donations receivable in the year amounted to £87,924 and £53,383 was paid out in synagogue expenses and support costs. These payments were made in line with the stated objects of the charity.
Included within donations receivable is £4,975 of restricted income relating to the CST security grants. This was mostly spent in the year.
The charity bought a plot of land as well as some portacabins during in the previous year as detailed in the notes to the accounts. This was for the building of the new Synagogue that the charity inaugurated during the year. Further work was done during this year.
The charity incurred governance costs comprising professional fees during the year.
There were no investments made during the year.
Grants over £1,000 made during the year are as detailed in the accounts.
Related party transactions are as disclosed in the accounts.
There was an overall net income and net movement in funds for the year amounting to £34,546 all of is attributable to the unrestricted fund, apart from £141.
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Financial review
The trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
Reserves policy
As at 31 August 2023 the charity held free reserves, being net current liabilities of the charity, of (£37,646) (2022:£114,255).
The net current liabilities are primarily due to a loan from a trustee, on an interest free basis amounting to £24,000. The trustee has confirmed that he will not call it in to the detriment of the cash flow of the charity. It is appropriate to account for the charity on a going concern basis.
The unrestricted fund represents the unrestricted funds arising from past operating results. The trustees wish to keep reserves as low as possible in order to maximise charitable activities.
In considering the limited financial obligations of the charity, the trustees have resolved to maintain a minimum reserve practical for donations which are seasonal.
The trustees' annual report and the strategic report were approved on 5 June 2024 and signed on behalf of the board of trustees by:
Z Hirsch Trustee
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Kehilas Kol Yaakov Limited
Year ended 31 August 2023
I report to the trustees on my examination of the financial statements of Kehilas Kol Yaakov Limited ('the charity') for the year ended 31 August 2023.
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 - matter of concern identified
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
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
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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.
Mr Howard Schwalbe ACA
Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
5 June 2024
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 82,949 | 4,975 | 87,924 | 117,806 |
| Investment income | 6 | 5 | – | 5 | 4 |
| ---------------------------- | ----------------------- | ---------------------------- | -------------------------------- | ||
| Total income | 82,954 | 4,975 | 87,929 | 117,810 | |
| ============================ | ======================= | ============================ | ================================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 7,8 | 48,549 | 4,834 | 53,383 | 34,355 |
| ---------------------------- | ----------------------- | ---------------------------- | -------------------------------- | ||
| Total expenditure | 48,549 | 4,834 | 53,383 | 34,355 | |
| ============================ | ======================= | ============================ | ================================ | ||
| ---------------------------- | ----------------------- | ---------------------------- | -------------------------------- | ||
| Net income and net movement in | funds | 34,405 | 141 | 34,546 | 83,455 |
| ============================ | ======================= | ============================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 233,742 | – | 233,742 | 150,287 | |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 268,147 | 141 | 268,288 | 233,742 | |
| ================================ | ======================= | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form part of these financial statements.
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 15 | 393,634 | 347,997 | |
| Current assets | ||||
| Debtors | 16 | 1,200 | – | |
| Cash at bank and in hand | 954 | 22,374 | ||
| ----------------------- | ---------------------------- | |||
| 2,154 | 22,374 | |||
| Creditors: amounts falling due within one year | 17 | 39,800 | 136,629 | |
| ---------------------------- | -------------------------------- | |||
| Net current liabilities | 37,646 | 114,255 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 355,988 | 233,742 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 18 | 87,700 | – | |
| -------------------------------- | -------------------------------- | |||
| Net assets | 268,288 | 233,742 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Restricted funds | 141 | – | ||
| Unrestricted funds | 268,147 | 233,742 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 19 | 268,288 | 233,742 | |
| ================================ | ================================ |
For the year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 8 to 15 form part of these financial statements.
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of trustees and authorised for issue on 5 June 2024, and are signed on behalf of the board by:
Z Hirsch Trustee
The notes on pages 8 to 15 form part of these financial statements.
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 17 Stanley Street, Manchester, M8 8SH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The charity has net current liabilities at the year end.
The net current liabilities are primarily due to a loan from a trustee, on an interest free basis amounting to £24,000. The trustee has confirmed that he will not call it in to the detriment of the cash flow of the charity.
It is appropriate to account for the charity on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Expenditure also includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Governance costs are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property - 2% straight line Library - 15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. 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 £10.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 82,949 | – | 82,949 | ||
| Grants | |||||
| CST | – | 4,975 | 4,975 | ||
| ---------------------------- | ----------------------- | ---------------------------- | |||
| 82,949 | 4,975 | 87,924 | |||
| ============================ | ======================= | ============================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 111,407 | – | 111,407 | ||
| Grants | |||||
| CST | – | 6,399 | 6,399 | ||
| -------------------------------- | ----------------------- | -------------------------------- | |||
| 111,407 | 6,399 | 117,806 | |||
| ================================ | ======================= | ================================ | |||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 5 | 5 | 4 | 4 | |
| ============== | ============== | ============== | ============== |
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
7. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Charitable activities | 44,008 | 4,834 | 48,842 |
| Support costs | 4,541 | – | 4,541 |
| ---------------------------- | ----------------------- | ---------------------------- | |
| 48,549 | 4,834 | 53,383 | |
| ============================ | ======================= | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Charitable activities | 25,297 | 6,399 | 31,696 |
| Support costs | 2,659 | – | 2,659 |
| ---------------------------- | ----------------------- | ---------------------------- | |
| 27,956 | 6,399 | 34,355 | |
| ============================ | ======================= | ============================ |
8. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding |
Support |
Total funds | Total fund | |
| directly | of activities |
costs |
2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Charitable activities | 33,473 | 15,369 |
3,642 |
52,484 | 33,454 |
| Governance costs | – | – |
899 |
899 | 901 |
| ---------------------------- | ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | |
| 33,473 | 15,369 |
4,541 |
53,383 | 34,355 | |
| ============================ | ============================ | ======================= | ============================ | ============================ | |
| Analysis of support | costs | ||||
| Analysis of | |||||
| support costs | Total 2023 | Total 2022 | |||
| £ | £ | £ | |||
| General office | 3,642 | 3,642 | 1,758 | ||
| Governance costs | 899 | 899 | 901 | ||
| ----------------------- | ----------------------- | ----------------------- | |||
| 4,541 | 4,541 | 2,659 | |||
| ======================= | ======================= | ======================= |
9. Analysis of support costs
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
10. Analysis of grants
| 10. | Analysis of grants | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Grants to institutions | |||
| Bederech Kovod | 2,600 | – | |
| Grants under £1000 | 1,350 | 1,200 | |
| ----------------------- | ----------------------- | ||
| 3,950 | 1,200 | ||
| Grants to individuals | |||
| Grants to individuals | 11,419 | 2,591 | |
| ---------------------------- | ----------------------- | ||
| Total grants | 15,369 | 3,791 | |
| ============================ | ======================= | ||
| 11. | Net income | ||
| Net income is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 8,232 | 115 | |
| ======================= | ============== | ||
| 12. | Independent examination fees | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 900 | 900 | |
| ============== | ============== |
13. Staff costs
The average head count of employees during the year was Nil (2019: Nil).
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
15. Tangible fixed assets
| Land and | ||||
|---|---|---|---|---|
| buildings | Library | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 September 2022 | 347,343 | 914 | 348,257 | |
| Additions | 53,027 | 842 | 53,869 | |
| -------------------------------- | ----------------------- | -------------------------------- | ||
| At 31 August 2023 | 400,370 | 1,756 | 402,126 | |
| ================================ | ======================= | ================================ | ||
| Depreciation | ||||
| At 1 September 2022 | – | 260 | 260 | |
| Charge for the year | 8,007 | 225 | 8,232 | |
| -------------------------------- | ----------------------- | -------------------------------- | ||
| At 31 August 2023 | 8,007 | 485 | 8,492 | |
| ================================ | ======================= | ================================ | ||
| Carrying amount | ||||
| At 31 August 2023 | 392,363 | 1,271 | 393,634 | |
| ================================ | ======================= | ================================ | ||
| At 31 August 2022 | 347,343 | 654 | 347,997 | |
| ================================ | ======================= | ================================ | ||
| 16. | Debtors | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Other debtors | 1,200 | – | ||
| ======================= | ============== | |||
| 17. | Creditors: amounts falling due within one year | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Accruals and deferred income | 1,800 | 1,929 | ||
| Other creditors | 38,000 | 134,700 | ||
| ---------------------------- | -------------------------------- | |||
| 39,800 | 136,629 | |||
| ============================ | ================================ |
Other creditors represent loans to the charity that are interest free and repayable on demand.
18. Creditors: amounts falling due after more than one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other creditors | 87,700 | – |
| ============================ | ============== |
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | 01 | At 31 | ||||
| Sep 2022 | Income | Expenditure | Aug 2023 | |||
| £ | £ | £ | £ | |||
| General funds | 233,742 | 82,954 | (48,549) | 268,147 |
||
| ================================ | ============================ | ============================ | ================================ | |||
| At | 01 | At 31 | ||||
| Sep 2021 | Income | Expenditure | Aug 2022 | |||
| £ | £ | £ | £ | |||
| General funds | 150,287 | 111,411 | (27,956) | 233,742 |
||
| ================================ | ================================ | ============================ | ================================ | |||
| Restricted funds | ||||||
| At | 01 | At 31 | ||||
| Sep 2022 | Income | Expenditure | Aug 2023 | |||
| £ | £ | £ | £ | |||
| Grants receivable | – | 4,975 | (4,834) | 141 |
||
| ============== | ======================= | ======================= | ============== | |||
| At | 01 | At 31 | ||||
| Sep 2021 | Income | Expenditure | Aug 2022 | |||
| £ | £ | £ | £ | |||
| Grants receivable | – | 6,399 | (6,399) | – |
||
| ============== | ======================= | ======================= | ============== | |||
| 20. | Analysis of net assets between funds | |||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2023 | ||||
| £ | £ | £ | ||||
| Tangible fixed assets | 393,634 | – | 393,634 | |||
| Current assets | 2,013 | 141 | 2,154 | |||
| Creditors less than 1 year | (39,800) | – | (39,800) | |||
| Creditors greater than 1 year | (87,700) | – | (87,700) | |||
| -------------------------------- | -------------- | -------------------------------- | ||||
| Net assets | 268,147 | 141 | 268,288 | |||
| ================================ | ============== | ================================ | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2022 | ||||
| £ | £ | £ | ||||
| Tangible fixed assets | 347,997 | – | 347,997 | |||
| Current assets | 22,374 | – | 22,374 | |||
| Creditors less than 1 year | (136,629) | – | (136,629) | |||
| Creditors greater than 1 year | – | – | – | |||
| -------------------------------- | -------------- | -------------------------------- | ||||
| Net assets | 233,742 | – | 233,742 | |||
| ================================ | ============== | ================================ |
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Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
21. Related parties
C D Nissenbaum, a trustee of the charity, lent £120,000 to the charity on an interest free basis in a previous year. There were repayments of £24,000 and further loans of £10,000. The amount owing at the year-end was £96,700.
Z Hirsch, a trustee of the charity, lent £15,000 to the charity on an interest free basis during the year. The amount owing at the year-end was £15,000.
During the year, donations totalling £18,170 were received from trustees.
22. Taxation
Kehilas Kol Yaakov Ltd is a registered charity and therefore is not liable to income tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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