OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-02-28-accounts

Company Number 07954378 Charity Number 1168328

YESHIVAS TORAS CHESED Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS 28 FEBRUARY 2022

YESHIVAS TORAS CHESED

FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2022

CONTENTS PAGE
Trustees and professional advisers 1
Trustees Annual Report
 2-3
Independent examiner`s report to the trustees 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7-9

YESHIVAS TORAS CHESED

TRUSTEES AND PROFESSIONAL ADVISERS

Registered charity name
YESHIVAS TORAS CHESED
Charity number 1168328
Company reg number 07954378
Principal office 118 Cazenove Road
London
N16 6AD
Trustees Rabbi C Babad
Mrs C Babad
Mr S Friedman
Mr O Schreiber
Accountant Js& Co Accountants Ltd
26 Theydon Road
London
E5 9NA

- 1 -

YESHIVAS TORAS CHESED

TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 28 FEBRUARY 2022

The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 28 February 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the financial statements.

THE TRUSTEES

The trustees who served the company during the period were as follows:

Rabbi C Babad Mrs C Babad Mr S Friedman Mr O Schreiber

All major decisions are taken collectively by the trustees.

The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity was constituted by Memorandum and Articles of Association dated 17th February 2012.

Organisational structure

The charity is controlled by local trustees who are very familiar with all the charitable causes that the charity supports. Regular meetings are held to review and discuss the charity's activities

RISK REVIEW

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.

OBJECTIVES AND ACTIVITIES

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. The charity acts as a college for young men of the Orthodox Jewish faith.

RISK MANAGEMENT

The trustees have put in place systems to identify risks and review the systems regularly.

ACHIEVEMENTS AND PERFORMANCES

The charity continued its activities in this year and the trustees are satisfied with the results

FINANCIAL REVIEW

The charity relied on donations received and outgoings were in line with the funds available.

- 2 -

YESHIVAS TORAS CHESED TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 28 FEBRUARY 2022

RESERVES

The trustees try to ensure that the charity retains sufficient funds to cover immediate anticipated outgoings. They have contacts at all times with potential donors who are able to assist with the charity's requirements.

PLANS FOR THE FUTURE

The charity plans to continue its activities subject to satisfactory incoming resources.

Signed on behalf of the trustees

Trustee

8[th] November 2022

- 3 -

ESHIVAS TORAS CHESED INDEPENDENT EXAMINER`S REPORT TO THE TRUSTEES OF YESHIVAS TORAS CHESED YEAR ENDED 28 FEBRUARY 2022

I report to the trustees on my examination of the financial statements of Yeshivas Toras Chesed ('the charity') for the year ended 28 February 2022.

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

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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. 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

  4. 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

Balazs Nezmi FCCA Chartered accountant

Js& Co Accountants Ltd 26 Theydon Road London E5 9NA

8[th] November 2022

- 4 -

YESHIVAS TORAS CHESED

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 28 February 2022

Notes
INCOMING RESOURCES
Incoming resources from generated funds
Donations and legacies
3
Government grants
Total Incoming resources
RESOURCES EXPENDED
Fundraising costs
Expenditure on charitable activities
4,5
Governance costs
Total resources expended
NET INCOMING/(OUTGOING)
RESOURCES
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 £
£
£
Unrestricted
funds
Total 2022
Total 2021
730,829
730,829
580,303
27,843
730,829
730,829
608,146
19,900
19,900
4,075
685,206
685,206
621,621
21,707
21,707
14,121
726,812
726,812
639,817
4,017
4,017
-31,672
3,536
3,536
35,207
7,553
7,553
3,536

-5-

YESHIVAS TORAS CHESED

2022
Notes
£
£
FIXED ASSETS
Fixtures & Fittings
6
27,049
27,049
CURRENT ASSETS:
Cash at bank and in hand
36,266
36,266
CREDITORS: Amounts falling
due within one year
7
-13,261
Net Current assets/(liabilities)
50,053
CREDITORS: Amounts falling d
8
after more than one year
-42,500
NET ASSETS:
7,553
FUNDS
9
Unrestricted funds
7,553
TOTAL FUNDS
7,553
BALANCE SHEET
28-Feb-22		 2021
£
£
16,483
16,483
41,565
41,565
-4,512
53,536
-50,000
3,536
3,536
3,536		 2021
£
£
16,483
16,483
41,565
41,565
-4,512
53,536
-50,000
3,536
3,536
3,536
-50,000
3,536
3,536
3,536

The Charitable company is entitled to exemption from audit under section 477 of Companies Act 2006 for the year ended 28 February 2022.

The trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with section 476 of Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial reporting Standard for smaller entities (effective April 2008)

Approved by the board of Trustees on: And signed on their behalf by:

08 November 2022

Rabbi C Babad - Trustee

-6-

YESHIVAS TORAS CHESED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 28 February 2022

1 ACCOUNTING POLICIES

Accounting convention

These accounts have been prepared in accordance with the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015). In preparing the accounts, the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP) issued in March 2005. Where there is a conflict between the FRSSE and the SORP, the SORP has been adopted in accordance with paragraph 419ff of the SORP.

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on 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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost residual value of each asset over its expected useful life, as follows:

Fixture and fittings -15% reducing balance

2 TRUSTEES REMUNERATION AND BENEFITS

There were no trustees remuneration or other benefits for the year ended 28 February 2022 or 28 February 2021

Trustees Expenses

There were no trustees expenses paid for the year ended 28 February 2022 or 28 February 2021

3 DONATIONS AND LEGACIES

A list of donations and legacies received are available from the office upon request in writing.

-7-

YESHIVAS TORAS CHESED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 28 February 2022

INCOMING RESOURCES

INCOMING RESOURCES
Incoming resources from generated funds
3
Donations and legacies
Government grants
Total incoming resources
4
Expenditure on charitable activities by fund type
Unrestricted
Funds
£
College expenditure
432,826
Fundraising costs
19,900
Camp
58,230
Support costs
77,745
Grants to Institutions
46,972
Grants to Individuals
91,140
TOTAL
726,813
Activities
undertaken
directly
Grant
funding of
activities
College expenditure
432,826
Fundraising costs
19,900
Camp
58,230
Governance costs
Grants to Institutions
46,972
Grants to Individuals
91,140
629,168
19,900
5
Analysis of support costs
Communications and IT
General office
Accountancy fee
Publicity costs
Paperware and toileteries
Depreciation
Governance cost -Motor and travel cost
Governance cost -Legal and professional fees
Governance cost -Printing postage and stationery
Governance cost -Other finance costs		 Unrestricted
funds
£
730,829
730,829
Total Funds
2022
£
432,826
19,900
58,230
77,745
46,972
91,140
726,813
Support
costs
56,038
21,707
77,745
College
Costs
£
1,976
1,060
1,980
14,958
33,271
4,773
1,300
1,097
7,436
9,894
77,745		 Total 2022
£
730,829
0
730,829
Unrestricted
Funds
£
372,062
4,075
51,943
51,615
69,530
90,593
639,818
Total 2022
£
488,864
19,900
58,230
21,707
46,972
91,140
726,813
Total 2022
£
1,976
1,060
1,980
14,958
33,271
4,773
1,300
1,097
7,436
9,894
77,745		 Total 2021
£
580,303
27,843
608,146
Total Funds
2021
£
372,062
4,075
51,943
51,615
69,530
90,593
639,818
Total 2021
£
409,555
4,075
51,943
14,121
69,530
90,593
639,818
Total 2021
£
3,711
5,145
1,200
4,198
21,531
2,909
1,875
192
3,817
7,037
51,615

-8-

YESHIVAS TORAS CHESED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 28 February 2022

for the year ended 28 February 2022
College costs
Food
Wages
L&H
Repairs
Commission & tips
Camp
Rent
Rates
Books		 Unrestricted
Total 2022
£
£
160,406
160,406
138,488
138,488
3,728
3,728
79,209
79,209
0
58,230
58,230
32,500
32,500
16,622
16,622
1,874
1,874
491,056
491,056		 Total 2021
£
139,017
113,680
8,164
63,436
7,250
51,943
30,000
3,042
7,473
424,005

Average number of employees, during the year was as follows: 20 (2021: 19)

6 FIXED ASSETS

6
FIXED ASSETS		 6
FIXED ASSETS
COST:
At 1 March 2021
Additions
At 28 February 2022
DEPRECIATION:
At 1 March 2021
Charge for year
At 28 February 2022
NET BOOK VALUE:
At 28 February 2022
At 28 February 2021
7
CREDITORS
DUE WITHIN ONE YEAR
Accruals
Social security and other taxes
Other creditors
8
CREDITORS
DUE AFTER ONE YEAR
Repayable by instalments: Bank loans more 5 yr by instal
At 1.3.21
£
9
Unrestricted funds
General fund
3,536
TOTAL FUNDS
3,536
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
730,829
TOTAL FUNDS
730,829		 Fixture and
fittings
£
22,142
15,339		 Totals
£
22,142
15,339
37,481
5,659
4,773
10,432
27,049
16,483		 37,481
5,659
4,773
10,432
27,049
16,483
2022
£
1,500
11,761
13,261
2022
£
42,500
42,500
Net movement
in funds
£
4,017
4,017
Rescources
expended
£
726,812
726,812		 2021
£
3,744
169
600
4,513
2021
£
50,000
50,000
At 28.02.22
£
7,553
3,536 7,553
re as follows:
Incoming
resources
£
730,829		 Movement in
funds
£
4,017
730,829 4,017

-9-