**REGISTERED CHARITY NUMBER: 1165910**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021**
**FOR**
## **KOLLEL HACHODOSH**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
**KOLLEL HACHODOSH**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Independent Examiner's Report**|3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 to 7|
**KOLLEL HACHODOSH**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2021**
The trustees present their report with the financial statements of the charity for the year ended 28 February 2021. 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 object of the charity is the advancement of Orthodox Jewish faith and the relief of poverty amongst members of the Jewish faith.
## **Significant activities**
Donations received are used to pay charitable grants to the students in the academy so as to satisfy the charitable criteria established in the objects.
## **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 and setting grant making policy.
## **Volunteers**
There were no volunteers during the year.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Board of Trustees are satisfied with the performance of the charity during the period, consider that the charity is in a position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
We had a successful crowdfunding campaign, proving public support for Kollel Hachodosh.
## **Internal and external factors**
The Trustees have considered the potential impact of the Covid-19 pandemic, which has been spreading since early 2020, on the Charity's activities. The Trustees have taken appropriate action to follow government guidance and to mitigate the effects of Covid-19 on the finances of the charity.
## **FINANCIAL REVIEW**
## **Financial position**
The charity has had a successful year, raising £376,393 (2020: £142,071 ) in donations, and making grants totalling £182,250 (2020: £156,450 ) to individuals in accordance with the objectives of the charity.
## **Principal funding sources**
The principal funding sources are donations from individuals and limited companies.
## **Reserves policy**
The present level of funding is adequate to meet the trustees objectives. The trustees consider the financial position of the charity to be satisfactory.
## **FUTURE PLANS**
The trustees plan to continue to pursue its charitable objectives.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
**KOLLEL HACHODOSH**
**FOR THE YEAR ENDED 28 FEBRUARY 2021**
## **REPORT OF THE TRUSTEES**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure**
The number of trustees must not be less than three or more than five.
Apart from the first trustees, every trustees must be appointed by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1165910
## **Principal address**
65 Highfield Gardens London NW11 9HA
## **Trustees**
Mr M Marmorstein Mr M Neumann Mr O Leichtag
## **Independent Examiner**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 23 December 2021 and signed on its behalf by:
Mr M Marmorstein - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KOLLEL HACHODOSH**
## **Independent examiner's report to the trustees of Kollel Hachodosh**
I report to the charity trustees on my examination of the accounts of Kollel Hachodosh (the Trust) for the year ended 28 February 2021.
## **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 registered member of _ 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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Mr Aryeh Melinek, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
24 December 2021
Page 3
**KOLLEL HACHODOSH**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 28 FEBRUARY 2021**
|**2021**
**Unrestricted**
**fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**376,393**
**EXPENDITURE ON**
Raising funds
**22,771**
**Charitable activities**
Charitable activity
**192,970**
**Total**
**215,741**
**NET INCOME/(EXPENDITURE)**
**160,652**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**17,624**
**TOTAL FUNDS CARRIED FORWARD**
**178,276**|2020
Total
funds
£
142,071
4,732
157,170
161,902
(19,831)
37,455
17,624|
|---|---|
The notes form part of these financial statements
Page 4
## **KOLLEL HACHODOSH**
## **BALANCE SHEET 28 FEBRUARY 2021**
|**2021**
**Unrestricted**
**fund**
Notes
**£**
**CURRENT ASSETS**
Cash at bank
**178,996**
**CREDITORS**
Amounts falling due within one year
3
**(720)**
**NET CURRENT ASSETS**
**178,276**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**178,276**
**NET ASSETS**
**178,276**
**FUNDS**
Unrestricted funds
**178,276**
**TOTAL FUNDS**
**178,276**|2020
Total
funds
£
18,344
(720)
17,624
17,624
17,624
17,624
17,624|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 23 December 2021 and were signed on its behalf by:
Mr M Marmorstein - Trustee
The notes form part of these financial statements
Page 5
**KOLLEL HACHODOSH**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021**
## **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.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **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. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 28 February 2021 nor for the year ended 29 February 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 28 February 2021 nor for the year ended 29 February 2020.
continued...
Page 6
**KOLLEL HACHODOSH**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021**
## **3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||**2021**|2020|
|---|---|---|
||**£**|£|
|Other creditors|**720**|720|
## **4. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 28 February 2021.
## **5. FINANCIAL INSTRUMENT**
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Page 7