TOMCHAI TORAH B ‘AM YISROEL ( T.T.B.Y )
ACCOUNTS FOR THE YEAR ENDED
31 MARCH 2024
Charity No: 1166670
SIMON TESLER & ASSOCIATES CHARTERED ACCOUNTANTS 149 ALBION ROAD LONDON N16 9JU
TOMCHAI TORAH B’AM YISROEL (T.T.B.Y)
CONTENTS
| Page | |
|---|---|
| Trustees’ Report | 2 |
| Accountants Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6-9 |
TOMCHAI TORAH B’AM YISROEL (T.T.B.Y)
TRUSTEES AND MANAGEMENT COMMITTEE:
Trustees:
B. Davidovits (Chairman) M. Margulies A. Weinberg
REGISTERED CHARITY NUMBER:
1166670
REGISTERED & PRINCIPAL OFFICE:
149 Albion Road. London N16 9JU
INDEPENDENT EXAMINER:
Simon Tesler FCA Chartered Accountant 149 Albion Road London N16 9JU
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TOMCHAI TORAH B’AM YISROEL (T.T.B.Y)
TRUSTEES’ REPORT FOR THE YEAR ENDED
31 MARCH 2024
The trustees present their report and accounts for the year ended 31 March 2024 The accounts have been prepared in accordance with the Accounting Policies set out on page 6 and comply with the Trust Deed dated 4 January 2016, and applicable law, the Charities Act 2021 and 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 (FRS102) (effective 1 January 2019)
GOVERNING DOCUMENT & TRUSTEES
The trustees named on page 1 have served throughout the year.
The charity operates purely on a voluntary basis
Appointment of trustees is governed by the Trust Deed of the charity dated 4 January 2016. The Board of Trustees is authorized to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
There are no policies adopted by the trustees for the induction and training of charity trustees. Due to the nature of the Charity’s activities, most of the day-to-day work is learned through practical exposure and ultimately experience, and all trustees are constantly encouraged to update their knowledge by reading, The Charity Commissions various publications.
INVESTMENT POWERS
The Trust Deed authorizes the trustees to make and hold investments using the general funds of the charity.
CONSTITUTION, OBJECTIVES, ACTIVITIES AND POLICIES
The Charitable Trust is constituted by a Trust Deed dated 4 January 2016.
Its objects are to relieve poverty, sickness, and infirmity amongst members of the Jewish faith, and to advance and further scholarship and education amongst the members of the Orthodox Jewish faith, in the furtherance of its religion. This is achieved, by supporting the advancement of education, in training future rabbis, judges, and well-educated community leaders and knowledgeable laymen. Persons devoted to study over a long period acquire a breath of knowledge of the faith’s views about many aspects of life, resulting from modern techniques, technology, scientific discoveries, and inventions. These matters cannot be investigated without a very through and detailed knowledge of the religious principles involved which can only be obtained by many years of devoted study.
The charity achieves its objectives principally by collecting voluntary donations and using them to pay grants
Grants are paid to Orthodox Jewish Institutions and individuals
Grants paid to institutions can be to advance religious education and /or the relief of poverty, sickness and infirmity
Grants paid to individuals are for the relief of poverty, sickness and infirmity.
The charity aims to maximize the donations it receives thereby increasing the number of grants it can pay
Donations are paid as grants as they are received
PUBLIC BENEFIT
The trustees confirm that they have referred to the guidance contained in the Charity Commissions general guidance on public benefit in planning their future activities, and setting their grant making policy for the year, when reviewing their aims and objectives
DEVELOPMENT, ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE
The trustees consider that the performance of the charity during this year has been satisfactory.
RISK MANAGEMENT
The trustees confirm that they have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. There are no major risks to which the charity is exposed
FINANCIAL REVIEW
Total incoming resources during the year amounted to £342,521 (2023 £269,310) which is attributable to donations received
Total resources expended during the year amounted to £344,569 (2023 £264,643) of which £340,466 (2023 - £261,125) were grants
At 31 March 2024 the charity had current assets of £118,912 (2023 £117,460) and creditors falling due within one year of £38,920 (£35,420) giving net current assets of £79,992 (2023- £82,040) the amount of the charity’s reserves
Office overhead expenditure were kept to a minimum during this year.
RESERVE POLICY
The charity has continued to support appropriate charitable causes. Funding for them is from donations which the charity distributes as they are received
The policy of the charity is to maximize the funds that it raises so that it can continue to meet its aims and objectives in the future
At 31 March 2024 the charity has unrestricted funds of £79,992 (£82,040)
PLANS FOR THE FUTURE
The trustees aim to maintain and develop the activities of the charity by ensuring that it is adequately funded and those funds are applied towards the objectives and activities of the charity
Funds currently available are sufficient to permit the charity to continue in operation in the medium term.
Should this support not continue in the longer term, further financial support would need to be sought to replace it
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TOMCHAI TORAH B’AM YISROEL (T.T.B.Y) TRUSTEES’ REPORT FOR THE YEAR ENDED
31 MARCH 2024
MANAGEMENT
The charity is managed exclusively by its trustees. The trustees hold two ordinary meetings each year. Other meetings take place at their discretion. Decisions are decided by majority vote
Statement of trustees' responsibilities
The trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis), and comply with the charity’s Trust Deed. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
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a) select suitable accounting policies and apply them consistently;
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b) make judgements and estimates that are reasonable and prudent;
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c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements
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d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. 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.
INDEPENDENT EXAMINER
Simon Tesler FCA has been re-appointed as independent examiner for the ensuing year
Approval
This report was approved by the Trustees on 23 December 2024 and signed on their behalf by M. Margulies.
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Trustee
INDEPENDENT EXAMINER REPORT TO THE TRUSTEES OF
TOMCHAI TORAH B’AM YISROEL (T.T.B.Y)
I report on the financial statements of the Trust for the year ended 31 March 2024 as set out on pages 4 to 9.
This report is made solely to the charity’s trustees, as a body, in accordance with the Charities Act 2011. Our work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our work, for this report, or for the opinions we have formed.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER (REPORTING
ACCOUNTANT)
The charity’s trustees are responsible for the preparation of financial statements. The charity’s trustees consider that an audit is not required for the year 31 March 2023 under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.
It is my responsibility to:
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examine the financial statements under Section 145 of the Charities Act 2011;
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follow the procedures laid down in the General Directions given by the Charity Commissioners under Section 145 (5)(b) of the 2011 Act; and
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state where particular matters have come to our attention.
Basis of INDEPENDENT REPORTING ACCOUNTANTS / EXAMINERS REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the true and fair view given by the financial statements.
REPORTING ACCOUNTANTS / INDEPENDENT EXAMINERS STATEMENT
In connection with my examination, no matter has come to my attention:
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a) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section130 of the 2011 Act; and
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to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Simon Tesler FCA
Independent Examiners Name:
Name of Firm: Simon Tesler & Associates Relevant Professional Qualification or Body: Chartered Accountants Address: 149 Albion Road, London N16 9JU Date: 23 December 2024
Date:
TOMCHAI TORAH B’AM YISROEL (T.T.B.Y) Statement of Financial Activities
For the year ended
31 March 2024
| Notes INCOMING RESOURCES Incoming Resources from Generating funds: Voluntary Income: (2) Donations & Legacies Charitable Activities Investments Other Trading Activities TOTAL INCOMING RESOURCES RESOURCES EXPENDED Direct charitable activities (3) Fund-raising and publicity (4) Administration and management of the charity(5/6 /7) Others Total Resources Used Net Income/ (Expenditure) Before Investment Gains/Losses Net Gain/Losses on Investments Transfers between Funds: Other recognized gains/ (losses) - Revaluations Net Movement in Funds Total Fund Brought Forward Total Fund Carried Forward There were no recognized gains or losses for 2024 other than those Financial Activities. - 4 - |
All Unrestricted Funds 2024 2023 342,521 269,310 - - - - - - 342,521 269,310 340,466 261,125 - - 4,103 3,517 - - 344,569 264,642 (2,048) 4,668 - - (2,048) 4,668 82,040 77,372 79, 992 82,040 included in the Statement of |
|---|---|
TOMCHAI TORAH B’AM YISROEL (T.T.B.Y)
BALANCE SHEET
| BALANCE SHEET | |||
|---|---|---|---|
| AS AT 31 MARCH 2024 Notes FIXED ASSETS Tangible Assets (8) Investments (8) CURRENT ASSETS Cash at Bank and in Hand Debtors (9) CREDITORS: amounts falling due (10) Within one year NET CURRENT ASSETS TOTAL ASSETS less CURRENT LIABILITIES REPRESENTED BY: FUNDS of the Charity Designated Restricted Funds Unrestricted Funds (11) Revaluation Reserve TOTAL FUNDS |
2024 - - 118,912 - (38,920) 79,992 - 79,992 79,992 ______ 79,992 |
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These accounts were approved by the Board of Trustees and authorized for publication on 23 December 2024 and signed on its behalf by M. Margulias
Trustee
The notes on pages 6 to 9 form part of these accounts. -5-
TOMCHAI TORAH B’AM YISROEL (T.T.B.Y) NOTES TO THE ACCOUNTS
For the year ended 31 March 2024
- 1.1 Accounting Convention and Policies
The accounts are prepared under the historical cost convention and include the results of the charity's operations which are described in the Trustees' Report and all of which are continuing. The accounts have been prepared in accordance with the Statement of Recommended Practice for charity accounts (SORP FRS102).
The charity has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cash flow statement on the grounds that it qualifies as a small charity, under - The Charities Act 2011.
- 1.2 Tangible fixed assets for use by the charity and depreciation
Tangible fixed assets for use by the charity are to be stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives. The rates used are:
Fixtures, fittings and Office Equipment 25% Motor Vehicles 25% Charitable Equipment 25%
- 1.3 Income
Voluntary income and donations are accounted for as received by the charity. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. No permanent endowments have been received in the period.
1.4 Value Added Tax
Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.
1.5 Fundraising costs
Fundraising expenditure comprises of costs incurred in inducing people and organisations to contribute financially to the charity's work. This includes the cost of advertising for donations and the staging of special fundraising events.
- 1.6 Management and administration expenditure
Expenditure on management and administration of the charity includes all expenditure on an accrual basis not directly related to the charitable activity or fundraising ventures.
- VOLOUNTRY INCOME
Donations from individuals and 342,521 269,310 From corporate sponsors Gift Aid -6-
TOMCHAI TORAH B’AM YISROEL (T.T.B.Y)
NOTES TO THE ACCOUNTS
For the year ended 31 March 2024
| 3. DIRECT CHARITABLE EXPENDITURE: Grants Made 4. FUNDRAISING AND PUBLICITY: Guest Speakers Expenses Advertising Printing Fund raising costs 5. ADMINISTRATION & MANAGEMENT: Consultancy & Staff Expenses Maintenance of Equipment Printing, Postage and Stationery Telephone & Internet Costs Secretarial & Administrators Expenses Office Expenses Refreshments Legal, Professional Rent & Utilities Support Costs Computer Costs 6. GOVERNANCE COSTS Bank Charges & Interest Accountancy Expenses -7- |
2024 340,466 - - - - - - 380 490 610 1,220 - - - - _ 2,880 423 800 |
|---|---|
2024
2023
7. STAFF COSTS & EMOLUMENTS
Total staff costs were as follows:
Wages and salaries - -
Social and Security Costs - -
Particular of employees:
The average number of employees during the year was as follows:
Number of administrative staff - -
No employee received remuneration in excess of £60,000 during the year
- TANGIBLE FIXED ASSETS
Equipment Fixtures & Fittings Investments
Cost
As at 1 April 2023 - - -
Additions
As at 31 March 2024
Depreciation
As at 1 April 2023
Charge for year
As at 31 March 2024
NET BOOK VALUE - - -
9. DEBTORS:
Prepayments
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10. CREDITORS: Amounts falling due within one year Bank Overdraft Sundry Creditors and Accruals Trustees Loan Account Other Creditors 11. UNRESTRICTED INCOME FUND: Balance at Incoming 1 April 2023 Resources General Fund 82,040 342,521 |
10. CREDITORS: Amounts falling due within one year Bank Overdraft Sundry Creditors and Accruals Trustees Loan Account Other Creditors 11. UNRESTRICTED INCOME FUND: Balance at Incoming 1 April 2023 Resources General Fund 82,040 342,521 |
2024 - 5,720 16,200 17,000 38,920 Outgoing Resources 344,569 |
2023 - 4,920 13,500 17,000 35,420 Balance at 31 March 2024 79,992 |
|---|---|---|---|
| 342,521 |
12. FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretions of the trustees.
Restrictive funds can only be used for the particular restricted purpose within the objects of the charity. Restrictive funds arise when specified by the donor or when funds are raised for a particular restricted purpose.
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