Satmar Kolel
Report
and
Financial
Statements
For The Year Ended
31 July 2021 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 2021.
Status and Administration
The Charity, constituted by trust deed, dated 10th October 2016, 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
Satsmar Kolel Report oftre Trust¢¢s Re5pon$lbllltles of th• Trustees Charity Law requires the Trustee¥ to prepare financi81 statements for èa¢h finanrAal yearwhich gNe true and feirview ol the slats of affairs of the ehwty as atthe Ba1ce Sheet Date, and of its kncoming rgsources, NKluthng irKome eXpenrf forthe finanaal year. In preparing those financsd atements. the Trustees thould follow W F&athce and . Seleetsurtable coun.g policae5 the thtsrn congstth. b. Make jud9ernents and esb"rTs lJ)at are reasonable wudent c. Follow 4)pJic8ble COUn11n0 standards and the CharÉbas SORP 2005, ¢knIng explaining any deparknres in the financ491 Strtsnts. d. Prepgre the finarrial statemen15 the wing nCern basis unless it is inapprowiate to assume that the chity wll ctsn'nue in operJ"on. The Trustees are resP&ble for mantsrning proper Ounts"ng re¢ord5 whh thsdose with reasC8b1e &YoJiacy at time the fin)oal posrtion of the charty and to enable Ihem a5 Trustees tD er)sure that the fin8rKia $14teffftts coryjlywth the Chalty Lthy. The Trustees are also responsble for saf8guthng the th8riVs assets ¥¢d hewKe for taknng re8sOftae steps for the preven¥on deteGlion of frd other rogulanb"e8. Board Of Tru$tet5 Thg members ofthe B08rd OfTrustee5 we s&1 tyjt on Page l. Polltkal Charltable Donatk>ns During th? year, the Charty ma<le grants donations of £178,503 I20 £52,13SI Approved by The Tnjstees of Satm* Kol dswed ¢n behdfofthem dl. on e May 2022. Trustee Ir. Manu8t Eckstein Page 3
Satmar Kolel
Statement Of Financial Activities
For The Year Ended 31 July 2021
| Notes | Unrestricted | 2021 | 2020 | 2020 | |
|---|---|---|---|---|---|
| Funds | Total Funds | Total Funds | |||
| £ | £ | £ | |||
| INCOMING RESOURCES | |||||
| Activities to further the Charity's | |||||
| Objects | 2 | 764,439 | 764,439 | 734,300 | |
| Investment Income and Interest | 0 | 0 | 0 | ||
| 764,439 | 764,439 | 734,300 | |||
| Donations | 0 | 0 | 0 | ||
| Total Incoming Resources | 764,439 | 764,439 | 734,300 | ||
| RESOURCES EXPENDED | |||||
| Costs of Generating Funds | |||||
| Fund Raising Costs | 3,748 | 3,748 | 0 | ||
| Net Incoming Resources Available | |||||
| For Charitable Application | 760,691 | 760,691 | 734,300 | ||
| Charitable Expenditure | |||||
| Cost of Actvities In Furtherance | 794,541 | 794,541 | 721,129 | ||
| of the Charity's Objects | |||||
| Support Costs | |||||
| Interest on Charity's Property | 3 | 0 | 0 | 0 | |
| Governance Costs | 3 | 2,489 | 2,489 | 1,701 | |
| Total Charitable Expenditure | 797,030 | 797,030 | 722,830 | ||
| Total Resources Expended | 3 | 800,778 | 800,778 | 722,830 | |
| Net Movement In Funds | (36,339) | (36,339) | 11,470 | ||
| Total Funds 31 July 2020 |
37,102 | 37,102 | 25,632 | ||
| Transfer To / (From) Reserves | 0 | 0 | 0 | ||
| Total Funds 31 July 2021 |
7 | £ 763 | £ 763 | **£ ** | 37,102 |
Page 4
Satmar Kolel
Balance Sheet at 31 July 2021
| Balance Sheet at 31 July 2021 |
||
|---|---|---|
| Notes 2021 £ Current Assets Debtors 5 0 Cash at Bank and in Hand 1,513 1,513 Creditors :Amounts falling due within one year 5 (750) Net Current Assets / (Liabilities) 763 Total Assets less Current Liabilities 763 Net Assets / (Liabilities) 6 £ 763 Unrestricted Funds 7 763 Total Funds 7 £ 763 |
2020 £ 25,800 56,702 82,502 (45,400) |
|
| **£ ** | 37,102 | |
| 37,102 | ||
| 37,102 | ||
| **£ ** | 37,102 | |
| 37,102 |
Approved by the Trustees on 6 May 2022, and signed on behalf of them all.
Trustee
Mr. Moishe Taub
The notes on pages 6 and 7 form part of these accounts.
Page 5
Satmar Kolel
Notes To The Accounts - 31 July 2021
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 |
**£ ** |
2021 2020 £ £ 764,439 734,300 764,439 £ 734,300 2021 2020 £ £ 178,503 52,135 353,310 241,660 20,833 31,544 159,160 253,970 74,700 136,550 8,035 5,270 794,541 721,129 0 0 2,489 1,701 797,030 722,830 3,748 0 800,778 £ 722,830 350 350 2,139 1,351 0 0 £ 2,489 £ 1,701 2021 2020 £ £ 0 25,800 £ 0 £ 25,800 |
2021 2020 £ £ 764,439 734,300 764,439 £ 734,300 2021 2020 £ £ 178,503 52,135 353,310 241,660 20,833 31,544 159,160 253,970 74,700 136,550 8,035 5,270 794,541 721,129 0 0 2,489 1,701 797,030 722,830 3,748 0 800,778 £ 722,830 350 350 2,139 1,351 0 0 £ 2,489 £ 1,701 2021 2020 £ £ 0 25,800 £ 0 £ 25,800 |
|---|---|---|---|
**£ ** |
|||
| 25,800 |
Page 6
Satmar Kolel
Notes To The Accounts - 31 July 2021
5) Creditors: Amounts falling due within one year
| 2021 | 2021 | 2020 | 2020 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Bank Loans and Overdrafts | 0 | 0 | |||
| Debt due within one year | 0 | 0 | |||
| Other Creditors | 400 | 45,050 | |||
| Accruals and Provisions | 350 | 350 | |||
| **£ ** | 750 | **£ ** | 45,400 |
6) Net Assets of The Charity's Funds
| Net Current | Net Current | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed | Assets / | Long Term | Fund | ||||||||
| Assets | (Liabilities) | Liabilities | Balances | ||||||||
| £ | £ | £ | £ | ||||||||
| Restricted Funds | 0 | 0 | 0 | 0 | |||||||
| Unrestricted Funds | 0 | 763 | 0 | 763 | |||||||
| Total Funds | **£ ** | 0 | **£ ** | 763 | £ 0 | **£ ** | 763 | ||||
| **7) ** | Unrestricted Funds | Transfers and | |||||||||
| Investment | |||||||||||
| Balance at | Gains | Balance at | |||||||||
| 31 July 2020 | Income | Expended | and Losses | 31 | July 2021 | ||||||
| £ | £ | £ | £ | ||||||||
| General Reserve | 37,102 | 764,439 | 800,778 | 0 | 763 | ||||||
| Total Funds | £ 37,102 | £ 764,439 | £ 800,778 | £ 0 | **£ ** | 763 |
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
Independent Exmainer's Report to the Trustees on the Unaudited Accounts of the Charity Satmar Kolel For the Year Ended 31 July 2021
We report on the financial statements of Satmar Kolel for the Year Ended 31 July 2021 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 6 May 2022
Reporting Accountant
Carl Rosen 50 Craven Park Road South Tottenham London N15 6AB
Page 8