## **Satmar Kolel** **Report and Financial Statements For The Year Ended 31 July 2020 Charity Number 1169555** ## **Satmar Kolel** |Contents|| |---|---| ||Page| |Legal and Administrative Information|1| |Report of The Trustees|2 and 3| |Statement Of Financial Activities|4| |Balance Sheet|5| |Notes forming part of the financial statements|6 and 7| |Accountants' Reoprt|8| **Satmar Kolel** ## **Trustees** Mr. Manuel Eckstein Mr. Elchonon Berger Mr. Moishe Taub Mr.Pinchas Benedikt ## **Administration Address** 23 St Kildas Road Clapton London E5 9AZ **Charity Number 1169555** Page 1 ## **Satmar Kolel** ## **Report of the Trustees** The Trustees present their annual report with accounts of the Charity for the Year Ended 31 July 2020. ## **Status and Administration** The Charity, constituted by trust deed, dated 5th December 2007, and is a Registered Charity. ## **Charitable Objects** 1) The advancement of the Orthodox Jewish faith and Orthodox Jewish religious education in particular but not exclusively by supporting the charitable activities of the institute and - 2) The advancement of such other purposes as are charitable according to English Law. ## **Trustees** The Trustees in office throughout the year were Mr. Manuel Eckstein Mr. Elchonon Berger Mr. Moishe Taub Mr.Pinchas Benedikt ## **Reserves Policy** The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they feel to be appropriate. Page 2 ## **Satmar Kolel** ## **Report of the Trustees** ## **Responsibilities of the Trustees** Charity Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year. In preparing those financial statements, the Trustees should follow best practice and a. Select suitable accounting policies and the apply them consistently. b. Make judgements and estimates that are reasonable and prudent. c. Follow applicable accounting standards and the Charities SORP 2005, disclosing and explaining any departures in the financial statements. d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Trustees to ensure that the financial statements comply with the Charity Law. The Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities. ## **Board Of Trustees** The members of the Board Of Trustees are set out on Page 1. ## **Political and Charitable Donations** During the year, the Charity made grants and donations of £52,135 (2019 £180,020) Approved by The Trustees of Satmar Kolel and signed on behalf of them all. on 12 May 2021, Trustee Mr. Manuel Eckstein Page 3 ## **Satmar Kolel** ## **Statement Of Financial Activities** **For The Year Ended 31 July 2020** ||Notes|Unrestricted|_2020_|_2019_| |---|---|---|---|---| |||Funds|Total Funds|_Total Funds_| |||£|£|£| |**INCOMING RESOURCES**||||| |**Activities to further the Charity's**||||| |**Objects**|2|734,300|734,300|968,286| |**Investment Income and Interest**||0|0|0| |||734,300|734,300|968,286| |**Donations**||0|0|0| |**Total Incoming Resources**||**734,300**|**734,300**|**968,286**| |**RESOURCES EXPENDED**||||| |**Costs of Generating Funds**||||| |Fund Raising Costs||0|**0**|**0**| |**Net Incoming Resources Available**||||| |**For Charitable Application**||**734,300**|**734,300**|**968,286**| |**Charitable Expenditure**||||| |Cost of Actvities In Furtherance||721,129|721,129|945,025| |of the Charity's Objects||||| |Support Costs||||| |Interest on Charity's Property|3|0|0|0| |Governance Costs|3|1,701|1,701|1,431| |**Total Charitable Expenditure**||**722,830**|**722,830**|**946,456**| |**Total Resources Expended**|3|**722,830**|**722,830**|**946,456**| |**Net Movement In Funds**||**11,470**|**11,470**|**21,830**| |**Total Funds**
**31 July 2019**||**25,632**|**25,632**|**3,802**| |**Transfer To / (From) Reserves**||0|0|0| |**Total Funds**
**31 July 2020**|7|**£ 37,102**|**£ 37,102**|**£ 25,632**| Page 4 Bal￿¢& Sh••t at 31 Juty 2020 2020 2019 Curront A•￿ts Debtors Cash at Bank in Hand 25,8 25,800 82,502 25.982 Cr•ditorn An￿nts falling due vnthin one year 14•t Curr•nt A•••t• l (Llabllltl••) Totsl A••ots IH• Cwr•nt Ll•blllO Not Amots 1 lua￿1￿￿•> £37102 £25632 Unro8trlct•d FurMIs Total Fund• £37102 £25632 Apwoved by thè TnJste68 on 12 May2021. d win&1 on boh8llr* th•m all. TN$lee Mf. Moi8h6 Taub Tho rKrt•8 ￿ pag•J O •rKI 7 lom) 01th￿8 a￿0￿rts. Pag8 5 **Satmar Kolel** ## **Notes To The Accounts - 31 July 2020** ## **1) Principal Accounting Policies** ## **Basis of Accounting** The Accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (effective from April 2015). ## **Cash Flow** The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement. ## **Donations and Fund Accounting** Donations received for the general and main purposes of the Charity is included as unrestricted funds in the Statement of Financial Activities when receivable. Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees. ## **Resources Expended** Governance Costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. The irrecoverable element of VAT is included with the item of expense to which it relates. |**2)** Donations Received
**3) Analysis of Total Resources Expended**
**Charitable Activities**
Cost of Actvities In Furtherance
of the Charity's Objects
Donations to Individuals and Communities
Educational Grant
Kol Mevaser
Relief of Poverty
Wedding Total
Operational Costs
Total Cost of Furtherance Of Charitable Objects
Support Costs
Interest on Charity's Property
Governance Costs
**Cost of Generating Funds**
**Total Cost of Actvities In Furtherance**
**of Charitable Objects**
**4) Governance Costs**
Accounting
Bank Charges and Interest
Formation and Deed of Trust
**5) Debtors**
Other Debtors|
**£**|_2020_
£
734,300
**734,300**
_2020_
£
52,135
241,660
31,544
253,970
136,550
5,270
721,129
0
1,701
**722,830**
0
**722,830**
350
1,351
0
**£ 1,701**
_2020_
£
25,800
**£ 25,800**|_2019_
£
968,286
**£ 968,286**|_2019_
£
968,286
**£ 968,286**| |---|---|---|---|---| |||||**968,286**| ||
**£**||_2019_
£
180,020
473,680
45,363
144,362
101,600
0
945,025
0
1,431
**946,456**
0
**£ 946,456**|| ||||350
1,081
0
**£ 1,431**
_2019_
£
25,800
**£ 25,800**|350
1,081
0
**£ 1,431**| Page 6 ## **Satmar Kolel** ## **Notes To The Accounts - 31 July 2020** ## **5) Creditors: Amounts falling due within one year** |Bank Loans and Overdrafts
Debt due within one year
Other Creditors
Accruals and Provisions|_2020_
_2019_
£
£
0
0
0
0
45,050
0
350
350
**£ 45,400**
**£ 350**| |---|---| ## **6) Net Assets of The Charity's Funds** |||||**Net Current**|||| |---|---|---|---|---|---|---|---| |||**Fixed**||**Assets /**|**Long Term**||**Fund**| |||**Assets**||**(Liabilities)**|**Liabilities**||**Balances**| |||£||£|£||£| |**Restricted Funds**|||0|0||0|0| |**Unrestricted Funds**|||0|37,102||0|37,102| |**Total Funds**|||**£ 0**|**£ 37,102**||**£ 0**|**£ 37,102**| |**Unrestricted Funds**|||||**Transfers and**||| ||||||**Investment**||| ||**Balance at**||||**Gains**||**Balance at**| ||**31 July 2019**|**Income**||**Expended**|**and Losses**||**31 July 2020**| ||£|£||£|||£| |General Reserve|25,632|734,300||722,830||0|37,102| |**Total Funds**|**£ 25,632**|**£ 734,300**||**£ 722,830**||**£ 0**|**£ 37,102**| ## **7) Unrestricted Funds** ## **8) Related Party Transactions** No trustee nor any person connected with them received any remuneration, or claimed any expense, during the year, from this or any related Charity. There were no Related Party Transactions in the Year. Page 7 ## **Accountants Report to the Trustees on the Unaudited Accounts of the Charity Satmar Kolel For the Year Ended 31 July 2020** We report on the financial statements of Satmar Kolel for the Year Ended 31 July 2020 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. These financial statements have been prepared, under the historical cost convention, and in accordance with the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (Issued 2015), and the Financial Reporting Standard for Smaller Entities 102 (effective 2016), and the accounting policies set out therein. ## **Respective Responsibilities Of Trustees and Reporting Accountants** As described on page 3, the trustees of the charity are responsible for the preparation of the accounts, and they consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 144 of the Act, whether particular matters have come to our attention. ## **Basis of Accountant's Report** Our 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. These procedures provide only the assurance expressed in our opinion. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts. ## **Opinion** In our opinion, no matter has come to our attention, - 1) which gives us reasonable cause to believe that, in any material respect, the requirements a) to keep accounting records in accordance with section 130 of the Act; and - b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or - 2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date 12 May 2021 ## **Reporting Accountant** Carl Rosen 50 Craven Park Road South Tottenham London N15 6AB Page 8