Charity number: 1166002
LUBAVITCH KOLLEL
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
LUBAVITCH KOLLEL
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 10 |
LUBAVITCH KOLLEL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
Trustees Dayan LY Raskin Mr B Davidoff Mr E Potash
Charity registered number 1166002 Principal office 37 Norfolk Avenue London N15 6JX Accountants Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB Bankers TSB Bank plc Chippenham
Page 1
LUBAVITCH KOLLEL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2024 to 31 March 2025.
Objectives and activities
Policies and objectives
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.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
Review of activities
The trustees are pleased with the results for the year. It has continued its religious education courses, to award study grants and to provide assistance to the poor and needy. Functions continue to be held at appropriate times in the Jewish calendar.
Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Reserves 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 Reserves at the year end were £2,651 (2024- £74).
Principal risks and uncertainties
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
Structure, governance and management
Constitution
Lubavitch Kollel is a registered charity, number 1166002, and is constituted as a Charitable Incorporated Organisation.
Page 2
LUBAVITCH KOLLEL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management (continued)
Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these 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 (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 provisions of 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.
Approved by order of the members of the board of Trustees on 28 January 2026 and signed on their behalf by:
Dayan LY Raskin Trustee
Page 3
LUBAVITCH KOLLEL
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025
Independent examiner's report to the Trustees of Lubavitch Kollel ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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.
Signed:
Dated: 28 January 2026
D Wolffe FCCA
34 Braydon Road London N16 6QB
Page 4
LUBAVITCH KOLLEL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Note Income from: Donations and legacies Charitable activities Investments Total income Expenditure on: Raising funds Charitable activities 2 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 65,754 10,459 7 76,220 654 72,792 73,446 2,774 (123) 2,774 2,651 |
Total funds 2025 £ 65,754 10,459 7 76,220 654 72,792 73,446 2,774 (123) 2,774 2,651 |
Total funds 2024 £ 41,004 14,836 3 55,843 141 59,848 59,989 (4,146) 4,023 (4,146) (123) |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 10 form part of these financial statements.
Page 5
LUBAVITCH KOLLEL
BALANCE SHEET AS AT 31 MARCH 2025
| Note Fixed assets Current assets Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 4 Net current assets / liabilites Total assets less current liabilities Net assets / liabilites excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
3,101 3,101 (450) |
2025 £ - 2,651 2,651 2,651 2,651 - 2,651 2,651 |
327 327 (450) |
2024 £ - (123) (123) (123) (123) - (123) (123) |
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees on 28 January 2026 and signed on their behalf by:
Dayan LY Raskin
Trustee
The notes on pages 7 to 10 form part of these financial statements.
Page 6
LUBAVITCH KOLLEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Lubavitch Kollel meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
1.3 Expenditure
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
1.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Page 7
LUBAVITCH KOLLEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting policies (continued)
1.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
2. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2025 £ Study grants 22,000 Grants to individuals - poor and needy 8,539 Grants to institutions - advancement of religion 3,191 Educational classes & religious functions 30,859 Accountancy fee 450 Independent examiner's fee 323 Support costs 7,430 72,792 |
Total 2025 £ 22,000 8,539 3,191 30,859 450 323 7,430 |
|---|---|
| 72,792 |
Page 8
LUBAVITCH KOLLEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
| Study grants Grants to individuals - poor and needy Educational classes & religious functions Accountancy fee Independent examiner's fee Support costs |
Unrestricted funds 2024 £ 27,989 3,460 21,704 351 200 6,144 59,848 |
Total 2024 £ 27,989 3,460 21,704 351 200 6,144 |
|---|---|---|
| 59,848 |
3. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .
4. Creditors: Amounts falling due within one year
| Accruals and deferred income 5. Summary of funds Summary of funds - current year |
2025 £ 450 |
2024 £ 450 |
|---|---|---|
| Balance at | ||||
|---|---|---|---|---|
| Balance at 1 | 31 March | |||
| April 2024 | Income | Expenditure | 2025 | |
| £ | £ | £ | £ | |
| General funds | (123) | 76,220 | (73,446) | 2,651 |
Page 9
LUBAVITCH KOLLEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. Summary of funds (continued)
Summary of funds - prior year
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at | 31 March | ||||
| 1 | April 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | ||
| General funds | 4,023 | 55,843 | (59,989) | (123) |
6. Related party transactions
Two sons of a trustee received study grants and wages, the total sum being £14,963 (2024 - £7,224).
Page 10