Kollel Veyoel Moshe
Charity No. 1172072
Company No.
Trustees' Report and Unaudited Accounts
31 March 2022
Kollel Veyoel Moshe Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Statement of Cash flows | 8 | |
| Notes to the Accounts | 9 to | 13 |
| Detailed Statement of Financial Activities | 14 to | 15 |
Page 1
Kollel Veyoel Moshe Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No.
Charity No. 1172072
Principal Office
60A Knightland Road Herbert Mews London E5 9HS
Registered Office
60A Knightland Road Herbert Mews London E5 9HS
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
I. Krausz Y. Krausz S. Tambur
M. Zafir
Accountants
S J Sheldon Ltd 20 Clarence Road Hale Cheshire WA15 8SG
OBJECTIVES AND ACTIVITIES
The main objective of the charity is the advancement of Orthodox Jewish religion, Orthodox Jewish education and education in general
The charity have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the charity's future activities. The aims of the charitable company for the public benefit are detailed in the Objectives and Activities section of the report.
Page 2
Kollel Veyoel Moshe Trustees Annual Report
The charity was set up with the aim of supporting religious Jewish education institutions and charitable organisations, by making donations and grants available to them.
The financial results of the Company's activities for the year ended 31st March 2021 are fully reflected in the attached financial statements together with the notes thereon.
Grants are made at the discretion of the trustees in accordance with the principal objectives of the charity
ACHIEVEMENTS AND PERFORMANCE
The charity received donations totalling £996,935 (2021- £941,505) and made grants to various charitable institutions and individuals totalling £707,814 (2021-£867,147) for this period.
FINANCIAL REVIEW
The charity has a net deficit reserve position which is supported by a loan from the trustees. The trustees have taken necessary remedial action to bring the reserve into a sustainable surplus position.
The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity
The trustees are confident that the charity will be able to continue operating in the foreseeable future
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud or error.
The charity is financially dependent on charitable donations from associated companies.
PLANS FOR FUTURE PERIODS
The are no current future plans to change the activities or modus operandi in the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing document, a constitution and constitutes a charity incorporated organisation.
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
S. Tambur Trustee
24 February 2023
Page 3
Kollel Veyoel Moshe Independent Examiners Report
Independent Examiner's Report to the trustees of Kollel Veyoel Moshe
I report to the charity trustees on my examination of the financial statements of Kollel Veyoel Moshe for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the trustees of the charity (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 financial statements of the charity 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 financial statements 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
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Financial Accountants.
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (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 financial statements to be reached.
Simon Sheldon Institute of Financial Accountants S J Sheldon Ltd 20 Clarence Road Hale Cheshire
WA15 8SG 24 February 2023
Page 4
Kollel Veyoel Moshe Statement of Financial Activities
for the year ended 31 March 2022
| Notes Income and endowments from: Donations and legacies 4 Total Expenditure on: Charitable activities 5 Other 6 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 996,935 |
Total funds 2022 £ 996,935 |
Total funds 2021 £ 941,505 |
|---|---|---|---|
| 996,935 707,814 212,364 |
996,935 707,814 212,364 |
941,505 868,467 1,260 |
|
| 920,178 - |
920,178 - |
869,727 - |
|
| 76,757 - |
76,757 - |
71,778 - |
|
| 76,757 | 76,757 | 71,778 | |
| 76,757 (64,552) |
76,757 (64,552) |
71,778 (136,330) |
|
| 12,205 | 12,205 | (64,552) |
Page 5
Kollel Veyoel Moshe Summary Income and Expenditure Account for the year ended 31 March 2022
| Income Gross income for the year Expenditure Total expenditure for the year Net income before tax for the year Net income for the year |
2022 £ 996,935 996,935 920,178 920,178 76,757 76,757 |
2021 £ 941,505 |
|---|---|---|
| 941,505 | ||
| 869,727 | ||
| 869,727 | ||
| 71,778 | ||
| 71,778 |
Page 6
Kollel Veyoel Moshe Balance Sheet at 31 March 2022
| at 31 March 2022 | |
|---|---|
| Company No. Notes 2022 £ Current assets Debtors 8 196,672 Cash at bank and in hand 121,838 318,510 Creditors:Amount falling due within one year 9 (306,305) Net current assets/(liabilities) 12,205 Total assets less current liabilities 12,205 Net assets/(liabilities) excluding pension asset or liability 12,205 Total net assets/(liabilities) 12,205 The funds of the charity Restricted funds 10 Unrestricted funds 10 General funds 12,205 12,205 Reserves 10 Total funds 12,205 |
2021 £ 1,950 51,904 |
| 53,854 (118,406) |
|
| (64,552) (64,552) |
|
| (64,552) | |
| (64,552) | |
| (64,552) | |
| (64,552) | |
| (64,552) |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 24 February 2023
And signed on its behalf by:
S. Tambur
Trustee 24 February 2023
Page 7
Kollel Veyoel Moshe Statement of Cash flows for the year ended 31 March 2022
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Increase in trade and other receivables Increase in trade and other payables Net cash provided by operating activities Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2022 £ 76,757 (194,722) 187,899 69,934 - - 69,934 51,904 121,838 121,838 121,838 |
2021 £ 71,778 (1,950) 118,406 |
|---|---|---|
| 188,234 | ||
| - | ||
| - | ||
| 188,234 | ||
| - | ||
| 188,234 | ||
| 51,904 | ||
| 51,904 |
Page 8
Kollel Veyoel Moshe Notes to the Accounts
for the year ended 31 March 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
Kollel Veyoel Moshe Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 10
Kollel Veyoel Moshe Notes to the Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Donations 5 Expenditure on charitable activities Expenditure on charitable activities Direct costs Grants made Governance costs |
Unrestricte d £ 996,935 996,935 Unrestricte d £ 707,814 - - 707,814 |
Unrestricte d funds 2021 £ 941,505 941,505 868,467 1,260 869,727 71,778 71,778 71,778 (136,330) (64,552) Total 2022 £ 996,935 996,935 Total 2022 £ 707,814 - - 707,814 |
Total funds 2021 £ 941,505 |
| 941,505 868,467 1,260 |
|||
| 869,727 | |||
| 71,778 | |||
| 71,778 | |||
| 71,778 (136,330) |
|||
| (64,552) | |||
| Total 2021 £ 941,505 |
|||
| 941,505 | |||
| Total 2021 £ 247,193 619,954 1,320 |
|||
| 868,467 |
Page 11
Kollel Veyoel Moshe Notes to the Accounts
6 Other expenditure
| Charity food costs Charity food service Charity transport costs Legal and professional costs 7 Staff costs No employee received emoluments in excess 8 Debtors Other debtors Prepayments and accrued income 9 Creditors: amounts falling due within one year Other creditors 10 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 11 Analysis of net assets between funds Net current assets |
of £60,000. At 1 April 2021 (64,552) (64,552) |
Unrestricte d £ 159,265 700 52,399 - 212,364 2022 £ 196,672 - 196,672 2022 £ 306,305 306,305 Incoming resources (including other gains/losses ) £ 996,935 996,935 Unrestricte d funds £ 318,510 318,510 |
Total 2022 £ 159,265 700 52,399 - 212,364 Resources expended £ (920,178) (920,178) Restricted funds £ (306,305) (306,305) |
Total 2021 £ - - - 1,260 |
|---|---|---|---|---|
| 1,260 | ||||
| 2021 £ - 1,950 |
||||
| 1,950 | ||||
| 2021 £ 118,406 |
||||
| 118,406 | ||||
| At 31 March 2022 £ 12,205 |
||||
| 12,205 | ||||
| Total £ 12,205 |
||||
| 12,205 |
Page 12
Kollel Veyoel Moshe Notes to the Accounts
12 Reconciliation of net debt
| Cash and cash equivalents Net debt |
At 1 April 2021 £ |
Cash flows £ |
At 31 March 2022 £ |
|---|---|---|---|
| 51,904 | 69,934 | 121,838 | |
| 51,904 51,904 |
69,934 69,934 |
121,838 | |
| 121,838 |
13 Related party disclosures Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 13
Kollel Veyoel Moshe Detailed Statement of Financial Activities
for the year ended 31 March 2022
| Income and endowments from: Donations and legacies Donations Total income and endowments Expenditure on: Charitable activities Direct costs Grants made Governance costs Total of expenditure on charitable activities Other expenditure Charity food costs Charity food service Charity transport costs Legal and professional costs Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 996,935 996,935 996,935 707,814 - 707,814 - - 707,814 159,265 700 52,399 212,364 - - 212,364 920,178 - 76,757 76,757 - 76,757 (64,552) 12,205 |
Total funds 2022 £ 996,935 996,935 996,935 707,814 - 707,814 - - 707,814 159,265 700 52,399 212,364 - - 212,364 920,178 - 76,757 76,757 - 76,757 (64,552) 12,205 |
Total funds 2021 £ 941,505 |
|---|---|---|---|
| 941,505 | |||
| 941,505 247,193 619,954 |
|||
| 867,147 | |||
| 1,320 | |||
| 1,320 | |||
| 868,467 - - - |
|||
| - | |||
| 1,260 | |||
| 1,260 | |||
| 1,260 | |||
| 869,727 - |
|||
| 71,778 | |||
| 71,778 - |
|||
| 71,778 | |||
| (136,330) | |||
| (64,552) |
Page 14
Kollel Veyoel Moshe Detailed Statement of Financial Activities
Page 15