REGISTERED COMPANY NUMBER: 07954378 (England and Wales) REGISTERED CHARITY NUMBER: 1168328
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 28 February 2025
for
YESHIVAS TORAS CHESED
London Accounting Group Ltd 5 North End Road London NW11 7RJ
YESHIVAS TORAS CHESED
Contents of the Financial Statements for the Year Ended 28 February 2025
| 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 | 10 |
YESHIVAS TORAS CHESED
Report of the Trustees for the Year Ended 28 February 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2025. 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
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.
ACHIEVEMENT AND PERFORMANCE
The charity continued its activities in this year and the trustees are satisfied with the results.
FINANCIAL REVIEW
Financial position
The charity relied on donations received and outgoings were in line with the funds available.
Reserves policy
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.
FUTURE PLANS
The charity plans to continue its activities subject to satisfactory incoming resources.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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 management
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07954378 (England and Wales)
Registered Charity number
1168328
Registered office
118 Cazenove Road London N16 6AD
Page 1
YESHIVAS TORAS CHESED
Report of the Trustees
for the Year Ended 28 February 2025
Trustees
Ms C Babad Director Rabbi C Babad Director S Friedman Director O Schreiber Director
Company Secretary
Independent Examiner
Mr Samuel Feigenblatt ACCA London Accounting Group Ltd 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on 24 November 2025 and signed on its behalf by:
Ms C Babad - Trustee
Page 2
Independent Examiner's Report to the Trustees of YESHIVAS TORAS CHESED
Independent examiner's report to the trustees of YESHIVAS TORAS CHESED ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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
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 member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts 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
-
the accounts 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.
Mr Samuel Feigenblatt ACCA
London Accounting Group Ltd 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
YESHIVAS TORAS CHESED
Statement of Financial Activities for the Year Ended 28 February 2025
| 28.2.25 | 29.2.24 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 831,158 | 810,041 | |
| EXPENDITURE ON | |||
| Raising funds | 5,318 | 2,068 | |
| Charitable activities | |||
| Direct charitable expenses | 798,526 | 779,229 | |
| Other | 24,861 | 21,947 | |
| Total | 828,705 | 803,244 | |
| NET INCOME | 2,453 | 6,797 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (136) | (6,933) | |
| TOTAL FUNDS CARRIED FORWARD | 2,317 | (136) |
The notes form part of these financial statements
Page 4
YESHIVAS TORAS CHESED
Balance Sheet 28 February 2025
| 28.2.25 | 29.2.24 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 16,094 | 19,543 |
| CURRENT ASSETS | |||
| Cash at bank | 1,392 | 7,004 | |
| CREDITORS | |||
| Amounts falling due within one year | 6 | (2,160) | (3,540) |
| NET CURRENT ASSETS | (768) | 3,464 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 15,326 | 23,007 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 7 | (13,009) | (23,143) |
| NET ASSETS | 2,317 | (136) | |
| FUNDS | 9 | ||
| Unrestricted funds | 2,317 | (136) | |
| TOTAL FUNDS | 2,317 | (136) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 24 November 2025 and were signed on its behalf by:
C Babad - Trustee
The notes form part of these financial statements
Page 5
YESHIVAS TORAS CHESED
Notes to the Financial Statements for the Year Ended 28 February 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation 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. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 28.2.25 | 29.2.24 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 3,449 | 3,449 |
Page 6
continued...
YESHIVAS TORAS CHESED
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2025 nor for the year ended 29 February 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2025 nor for the year ended 29 February 2024.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 810,041 |
| EXPENDITURE ON | |
| Raising funds | 2,068 |
| Charitable activities | |
| Direct charitable expenses | 779,229 |
| Other | 21,947 |
| Total | 803,244 |
| NET INCOME | 6,797 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | (6,933) |
| TOTAL FUNDS CARRIED FORWARD | (136) |
continued...
Page 7
YESHIVAS TORAS CHESED
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
5. TANGIBLE FIXED ASSETS
| COST At 1 March 2024 and 28 February 2025 DEPRECIATION At 1 March 2024 Charge for year At 28 February 2025 NET BOOK VALUE At 28 February 2025 At 29 February 2024 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 8) 8. LOANS An analysis of the maturity of loans is given below: Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal |
28.2.25 £ - 2,160 2,160 28.2.25 £ 13,009 28.2.25 £ 13,009 |
Fixtures and fittings £ 37,481 |
|---|---|---|
| 17,938 3,449 |
||
| 21,387 | ||
| 16,094 | ||
| 19,543 | ||
| 29.2.24 £ 1,500 2,040 3,540 29.2.24 £ 23,143 |
||
| 29.2.24 £ 23,143 |
continued...
Page 8
YESHIVAS TORAS CHESED
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
9. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||
|---|---|---|
| Net | ||
| movement | ||
| At 1/3/24 | in funds | At 28/2/25 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund (136) |
2,453 | 2,317 |
| TOTAL FUNDS (136) |
2,453 | 2,317 |
| Net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 831,158 |
(828,705) | 2,453 |
| TOTAL FUNDS 831,158 |
(828,705) | 2,453 |
| Comparatives for movement in funds | ||
| Net | ||
| movement | ||
| At 1/3/23 | in funds | At 29/2/24 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund (6,933) |
6,797 | (136) |
| TOTAL FUNDS (6,933) |
6,797 | (136) |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 810,041 |
(803,244) | 6,797 |
| TOTAL FUNDS 810,041 |
(803,244) | 6,797 |
continued...
Page 9
YESHIVAS TORAS CHESED
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| At Unrestricted funds General fund TOTAL FUNDS |
Net movement 1/3/23 in funds At 28/2/25 £ £ £ (6,933) 9,250 2,317 (6,933) 9,250 2,317 |
Net movement 1/3/23 in funds At 28/2/25 £ £ £ (6,933) 9,250 2,317 (6,933) 9,250 2,317 |
|---|---|---|
| 2,317 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,641,199 | (1,631,949 ) | 9,250 |
| TOTAL FUNDS | 1,641,199 | (1,631,949 ) | 9,250 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2025.
Page 10