**LUBAVITCH KOLLEL ( Charitable Incorporated Organisation CIO)**
**Trustees' report and financial statements for the year ended 31 March 2023**
## **LUBAVITCH KOLLEL**
## **Contents**
||**Page**|
|---|---|
|Reference and administrative information|**1**|
|Trustees' report|**2 - 3**|
|Independent examiner's report|**4**|
|Statement of financial activities|**5**|
|Balance sheet|**6**|
|Notes to the financial statements|**7 - 8**|
## **LUBAVITCH KOLLEL**
## **Reference and administrative information**
|Trustees|Dayan LY Raskin|
|---|---|
||Mr B Davidoff|
||Mr E Potash|
|Charity number|1166002|
|Office|37 Norfolk Avenue|
||London N15 6JX|
|Independent examiner|B G Mordfield FMAAT|
||11 Hurstdene Gardens|
||London N15 6NA|
|Bankers|TSB Bank plc|
||Chippenham|
**Page 1**
## **LUBAVITCH KOLLEL**
## **Trustees' report for the year ended 31 March 2023**
## **Reference and administrative information**
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
## **Constitution**
The charity was registered on 11 March 2016 and is constituted as a Charitable Incorporated Organisation.
## **Organisation**
The power to appoint new trustees is vested in the board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
## **Objects for public benefit**
The objects of the charity are the advancement of the Orthodox Jewish Religion, Orthodox Jewish Education and the relief of poverty amongst those of the Jewish faith. In carrying out the objects the charity provides classes and a library for study. Financial support is given for study and research and grants to the poor and needy.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
## **Review and activities**
The trustees are pleased with the results for the year. There was an increase in donations which enabled extra rooms for education to be refurbished. The charity also increased religious education courses with the employment of an extra lecturer and continued to awarding study grants, The charity had the use of a mobile library with classroom to bring educational facilities to a wider audience. Functions were held at appropriate times in the Jewish calendar. The charity was left with a surplus for the year.
## **Reserve policy**
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £4,022 (2022 - £3,171).
## **Risk review**
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are required to;
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
**Page 2**
## **LUBAVITCH KOLLEL**
## **Trustees' report**
## **for the year ended 31 March 2023**
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the trustees and signed on their behalf on 30 January 2024 by
## **Dayan LY Raskin Trustee**
**Page 3**
## **LUBAVITCH KOLLEL**
## **Independent examiner's report to the trustees on the unaudited financial statements of LUBAVITCH KOLLEL Charitable Incorporated Organisation(the CIO)**
I report to the trustees on my examination of the financial statements of the CIO for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity trustees of the CIO you are are responsible for the preparation of the finacial statements in accordance with the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the CIO's accounts carried out under section 145 of the Act. In carrying out my examination I have followed all the applicable 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 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 as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the account do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Account and Reports) Regulations 2008 other than any requirement that accounts give a 'true and fair view' which is not a matter considered as part of the independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention sholuld be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **B G Mordfield FMAAT 11 Hurstdene Gardens London N15 6NA**
## **30 January 2024**
**Page 4**
## **LUBAVITCH KOLLEL**
## **Statement of financial activities for the year ended 31 March 2023**
|**2023**
**(unrestricted)**
**Total**
**Notes**
**£**
**Income**
_Donations_
72,952
_Fee income from religious education_
16,298
_Income from investments_
3
**Total income**
89,253
**Expenditure**
_Cost of raising funds_
)
(808
_Charitable activities_
2
)
(87,594
**Total expenditure**
)
(88,402
**Net income for the year**
851
**Reconciliation of funds**
Total funds brought forward
3,171
**Total funds carried forward**
4,022|**2022**
**Total**
**£**
59,231
18,647
-
77,878
)
(3,110
)
(74,145
)
(77,255
623
2,548
3,171|
|---|---|
**The notes on page 7 form an integral part of these financial statements.**
**Page 5**
## **LUBAVITCH KOLLEL**
## **Balance sheet as at 31 March 2023**
|**Notes**
**Current assets**
Cash at bank and in hand
**Net current assets**
**Net assets**
**Funds of the charity**
Unrestricted funds|**2023**
**£**
4,022
4,022|**£**
4,022
4,022
4,022
4,022|**2022**
**£**
3,171
3,171|**£**
3,171|
|---|---|---|---|---|
|||||3,171|
|||||3,171|
|||||3,171|
The financial statements were approved by the trustees on 30 January 2024 and signed on their behalf by
## **Dayan LY Raskin Trustee**
**The notes on page 7 form an integral part of these financial statements.**
**Page 6**
## **LUBAVITCH KOLLEL**
## **Notes to the financial statements for the year ended 31 March 2023**
## **1. Accounting policies**
## **1.1. Accounting convention**
- The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared under the historical cost convention and in accordancewith 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 (Charities SORP FRS 102- effective 1 January 2019) and the Charities Act 2011.
## **1.2. Income**
Income received by way of donations is accounted for when received.
## **1.3. Expenditure**
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT.
## Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
## **1.4. Going concern**
There are no material uncertainties about the charity’s ability to continue.
## **2. Charitable activities**
|Study grants
Grants to individuals - poor and needy
Grants to institutions - advancement of religion
Educational classes & religious functions
Support costs|**2023**
**£**
42,688
2,573
2,171
28,086
12,076
87,594|**2022**
**£**
58,159
2,350
-
5,879
7,758|
|---|---|---|
|||74,146|
**Page 7**
## **LUBAVITCH KOLLEL**
## **Notes to the financial statements for the year ended 31 March 2023**
## **3. Employees**
## **Number of employees**
**----- Start of picture text -----**
The average monthly numbers of employees 2023 2022
(excluding the trustees) during the year were: Number Number
2 1
Employment costs
2023 2022
£ £
Wages and salaries 17,700 9,363
**----- End of picture text -----**
## **4. Trustees' emoluments**
No trustee received remuneration, allowance for or reimbursement of expenses.
## **5. Related party transactions**
Two sons of a trustee received study grants and wages, the total sum being £8,694 (2022 - £17,983).
**Page 8**