CHARITY REGISTRATION NUMBER: 1168607
YOSHOR TRUST Unaudited Financial Statements 30 September 2024
WHITESIDE AND DAVIES LTD
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
YOSHOR TRUST
Financial Statements
Year ended 30 September 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
YOSHOR TRUST
Trustees' Annual Report (continued)
Year ended 30 September 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 30 September 2024.
Reference and administrative details
Registered charity name YOSHOR TRUST Charity registration number 1168607 Principal office 24 ST. ALBANS TERRACE GATESHEAD NE8 4HA The trustees Mr E Schleider Mr J Schleider Mr M Schleider Mr Sholem Schleider Mr Y Schleider Mr Saul Schleider Independent examiner Ian Graff FCCA 158 Cromwell Road Salford M6 6DE
Structure, governance and management
Yoshor Trust was constituted by CIO - Foundation Registered 4 August 2016 and is a Registered Charity. The trustees who served the charity during the period were as follows: Mr Joseph Schleider, Mr Yehuda Schleider, Mr Eli Schleider, Mr Moshe Schleider, Mr Saul Schleider & Mr Sholem Schleider. There is no executive officer nor any other staff employed in the charity. The day-to-day affairs are undertaken by Mr Jeremy Bernstein on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give their time freely.
Recruitment and appointment of new trustees is in line with the memorandum and articles of association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
Objectives and activities
The objects of the charity are:
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The relief of poverty amongst persons in need and hardship in the Jewish community.
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The advancement of education according to the beliefs and values of the orthodox Jewish faith.
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The advancement of the Jewish Orthodox religion.
To further such general charitable purposes as the trustees may in their absolute discretion determine. The charity has established its grant making policy to achieve its objects for the public benefit. The charity provides funding to relieve poverty of individuals and families who are unable to sustain themselves. The charity provides the funding either directly to those in need or to organisations who provide the support. The trustees consider they have met the public benefit test and outline these achievements below.
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YOSHOR TRUST
Trustees' Annual Report (continued)
Year ended 30 September 2024
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The charity received £24,432 (2023 - £35,020) in donations during the year and paid out £51,676 by way of support to charitable institutions (2023 - £30,545). The charity has low support and governance costs comprising bank charges, sundry administrative and office costs. Support was awarded to institutions in the year in accordance with the charity's objectives and as detailed in the notes to the financial statements. There were no material fundraising costs during the year.
Financial review
There was an overall net deficit of resources during the year amounting to £27,244 (2023 - surplus of £3,751). Unrestricted funds carried forward to next year is £7,531 (2023 - £34,775). The trustees feel that the activity reflects the profile and standing within the local community and its continued level of activities is dependent on the ability of the trustees to attract the required funding.
The trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.
Reserves policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results. It is the policy of the charity to maintain its unrestricted funds at a level to cover six months overheads and to have sufficient funds to generally distribute funds in accordance with the wishes of the donors. The Trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
Plans for future periods
The trustees plan to continue raising funds for projects in line with the trust deed and peruse those objectives and projects with all the resources available to the charity.
The trustees' annual report was approved on 27 December 2024 and signed on behalf of the board of trustees by:
Mr J Schleider Trustee
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YOSHOR TRUST
Independent Examiner's Report to the Trustees of YOSHOR TRUST
Year ended 30 September 2024
I report to the trustees on my examination of the financial statements of YOSHOR TRUST ('the charity') for the year ended 30 September 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
Ian Graff FCCA Independent Examiner
158 Cromwell Road Salford M6 6DE
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YOSHOR TRUST
Statement of Financial Activities
Year ended 30 September 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 24,432 | 24,432 | 35,020 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 24,432 | 24,432 | 35,020 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 51,676 | 51,676 | 31,269 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 51,676 | 51,676 | 31,269 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net (expenditure)/income and net movement in funds | (27,244) | (27,244) | 3,751 | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 34,775 | 34,775 | 31,024 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total funds carried forward | 7,531 | 7,531 | 34,775 | |
| ============================ | ============================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 11 form part of these financial statements.
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YOSHOR TRUST
Statement of Financial Position
30 September 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 12 | 5,000 | 35,000 |
| Cash at bank and in hand | 4,931 | 2,175 | |
| ----------------------- | ---------------------------- | ||
| 9,931 | 37,175 | ||
| Creditors: amounts falling due within one year | 13 | 2,400 | 2,400 |
| ----------------------- | ---------------------------- | ||
| Net current assets | 7,531 | 34,775 | |
| ----------------------- | ---------------------------- | ||
| Total assets less current liabilities | 7,531 | 34,775 | |
| ----------------------- | ---------------------------- | ||
| Net assets | 7,531 | 34,775 | |
| ======================= | ============================ | ||
| Funds of the charity | |||
| Unrestricted funds | 7,531 | 34,775 | |
| ----------------------- | ---------------------------- | ||
| Total charity funds | 14 | 7,531 ======================= |
34,775 ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 27 December 2024, and are signed on behalf of the board by:
Mr J Schleider Trustee
The notes on pages 6 to 11 form part of these financial statements.
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YOSHOR TRUST
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 24 ST. ALBANS TERRACE, GATESHEAD, NE8 4HA.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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YOSHOR TRUST
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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YOSHOR TRUST
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 24,432 | 24,432 | 35,020 | 35,020 |
| ============================ | ============================ | ============================ | ============================ |
5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable activity | 51,071 | 51,071 | 30,545 | 30,545 |
| Support costs | 605 | 605 | 724 | 724 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 51,676 | 51,676 | 31,269 | 31,269 | |
| ============================ | ============================ | ============================ | ============================ |
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YOSHOR TRUST
Notes to the Financial Statements (continued)
Year ended 30 September 2024
6. Expenditure on charitable activities by activity type
| Grant funding | Support |
Total funds | Total fund | ||
|---|---|---|---|---|---|
| of activities | costs | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Charitable activity | 51,071 | 5 | 51,076 | 30,669 | |
| Governance costs | – | 600 | 600 | 600 | |
| ---------------------------- | -------------- | ---------------------------- | ---------------------------- | ||
| 51,071 | 605 | 51,676 | 31,269 | ||
| ============================ | ============== | ============================ | ============================ | ||
| 7. | Analysis of support costs | ||||
| Analysis of | |||||
| support costs | Total 2024 | Total 2023 | |||
| £ | £ | £ | |||
| Finance costs | 5 | 5 | 124 | ||
| Governance costs | 600 | 600 | 600 | ||
| -------------- | -------------- | -------------- | |||
| 605 | 605 | 724 | |||
| ============== | ============== | ============== | |||
| 8. | Analysis of grants | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Grants to institutions | |||||
| Ateres | – | 2,800 | |||
| Beis Soro Schneirer | 8,000 | 3,250 | |||
| Brongate Ltd | 3,750 | 4,100 | |||
| I Kaufman Charitable Trust | – | 5,000 | |||
| Yeshiva Gedola Nezer Hatorah | – | 5,000 | |||
| Sunderland Kolel | – | 2,600 | |||
| Grants less than £2,000 | 8,085 | 7,795 | |||
| Beth Medrash Lemoroth | 3,300 | – | |||
| Gateshead Kehilla Ltd | 4,900 | – | |||
| Hatzolo Gateshead | 2,000 | – | |||
| Kanfei Yona | 5,000 | – | |||
| Maalos Hatorah | 2,000 | – | |||
| YAMF | 14,036 | – | |||
| ---------------------------- | ---------------------------- | ||||
| 51,071 | 30,545 | ||||
| ---------------------------- | ---------------------------- | ||||
| Total grants | 51,071 | 30,545 | |||
| ============================ | ============================ | ||||
| 9. | Independent examination fees | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Fees payable to the independent | examiner for: | ||||
| Independent examination of the financial statements | 600 | 600 | |||
| ============== | ============== |
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YOSHOR TRUST
Notes to the Financial Statements (continued)
Year ended 30 September 2024
10. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
12. Debtors
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other debtors | 5,000 | 35,000 | |
| ======================= | ============================ | ||
| 13. | Creditors: amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruals and deferred income | 2,400 | 2,400 | |
| ======================= | ======================= |
14. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | |||||||
| At | 30 | September | |||||
| 1 | October | 23 | Income | Expenditure | 2024 | ||
| £ | £ | £ | £ | ||||
| General funds | 34,775 | 24,432 | (51,676) | 7,531 | |||
| ============================ | ============================ | ============================ | ======================= | ||||
| At | |||||||
| At | 30 | September | |||||
| 1 | October | 22 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||||
| General funds | 31,024 | 35,020 | (31,269) | 34,775 | |||
| ============================ | ============================ | ============================ | ============================ |
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YOSHOR TRUST
Notes to the Financial Statements (continued)
Year ended 30 September 2024
15. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Current assets | 9,931 | 9,931 |
| Creditors less than 1 year | (2,400) | (2,400) |
| ----------------------- | ----------------------- | |
| Net assets | 7,531 | 7,531 |
| ======================= | ======================= | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Current assets | 37,175 | 37,175 |
| Creditors less than 1 year | (2,400) | (2,400) |
| ---------------------------- | ---------------------------- | |
| Net assets | 34,775 | 34,775 |
| ============================ | ============================ |
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