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2021-08-31-accounts

Nesivos Hatorah Limited

Company limited by guarantee

Annual Report and Financial Statements

For year ended 31 August 2021

Charity Registration Number 1172367 Company Number 10344435

Accounts & Business Solutions Limited

158 Cromwell Road Salford M6 6DE

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NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS

FOR YEAR ENDED 31 AUGUST 2021

Contents

Page
Charity Information 3
Report of the Directors/Trustees 4 - 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes forming part of the financial statements 10 - 11
Detailed profit and loss account and Statement
of financial activities 12

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NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2021

Charity Information

Board of Trustees

Mr Michael Bodner - Trustee Mr Netanel Feiger - Director and Trustee Mr Simon Kaufman - Trustee

Administration Address

50 Grasmere Street West Gateshead NE8 1TS

Charity Number

1172367

Company Registration Number

10344435 (England and Wales)

Company registered office

50 Grasmere Street West Gateshead NE8 1TS

Accountants

Accounts & Business Solutions 158 Cromwell Road Salford M6 6DE

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NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2021

Report of the Directors/Trustees

The Directors/Trustees have pleasure in presenting their Report and Financial Statements of the Company/Charity for the year ended 31 August 2021.

Reference and Administration

Reference and Administration details are shown in the schedule of members of the board and professional advisers on page 3 of the financial statements.

Trustees

The trustees who served throughout the year were:

Mr Michael Bodner - Trustee

Mr Netanel Feiger - Director and Trustee

Mr Simon Kaufman - Trustee

The above are still in post at the date of the approval of the accounts. All trustees serve at their post

for this charity voluntarily. There are no trustees employed by, or have any beneficial interest in the charity. Details of any related party transactions are disclosed as applicable in the notes to the accounts. Trustees have been advised of any defects or omissions and have ensured that they are corrected.

Structure, governance and management

Nesivos Hatorah Ltd is a company limited by guarantee incorporated on 24 August 2016 and is governed by its memorandum and articles of association.

The Director/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors/ Trustees' meetings.

Day to day management of activities is the responsibility of the manager, supported by administrative staff and a team of professionals and volunteers.

Charitable Objects

I. The advancement of the Orthodox Jewish Religion.

II. The advancement of Orthodox Jewish religious education in particular but not exclusively by the management and maintenance of the Talmudical college known as Nesivos Hatorah Ltd in Gateshead, Tyne and Wear.

III. The advancement of such other objects as are for the benefit of the public and are charitable according to the laws of England and Wales.

Page 5

NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2021

Report of the Directors/Trustees (continued)

Achievements

The Trustees are pleased to report Nesivos Hatorah Ltd successful accomplishments during the year. These include:

Public benefit

In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on fee-charging.

Although we ask for a contribution towards the costs of our services, we have given careful consideration to enable individuals on low income to access our services.

Since we are committed to enabling as many students as possible to benefit from the support that the charity offers, we welcome all children regardless of the students' personal financial circumstances.

Financials

This year's total incoming resources were £294,163 (2020: £159,327), the trustees are satisfied with the financial results for the year, with a net surplus for the year of £169,826 (2020: £60,673).

Funds are available to permit the charity to continue in operation in the medium to long term and to continue to fund worthwhile projects.

The staff and trustees have continued working hard to keep costs and overheads to a minimum without compromising on our high standard of service and professionalism.

We give credit for our achievements to the remarkable effort made by the staff.

Reserves as stated in the accounts are as follows:

Unrestricted funds
Restricted funds
Total		 £
398,005
0
398,005

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NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS

FOR YEAR ENDED 31 AUGUST 2021

Report of the Directors/Trustees (continued)

Investment policy and returns

Under the memorandum and articles of association, the charity has the power to make any investment which the trustees see fit.

Reserves Policy

The trustees retain reserves as necessary and where appropriate, consolidate funds in order to enable the charity to meet future needs or to make more substantial grants which they feel to be appropriate.

Responsibilities of the Director/Trustees

Company Law requires the directors 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 Directors/Trustees should follow best practice and

The Directors/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 Directors/Trustees to ensure that the financial statements comply with the Company Law.

The Directors/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.

Approved by The Directors/Trustees on 27 April 2022

N Feiger Trustee and Director

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NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2021

Independent Examiner's Report to the Trustees / Director

I report to the trustees on my examination of the financial statements of Nesivos Hatorah Ltd ('the charity') for the year ended 31 August 2021.

Responsibilities and basis of report

As the trustees of the company (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 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 the 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 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 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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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

  4. the financial statements 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.

H Davies FCCA Accounts & Business Solutions Limited 158 Cromwell Road Salford M6 6DE Date: 27 April 2022

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NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS

FOR YEAR ENDED 31 AUGUST 2021

Statement of Financial Activities

Income and expenditure account

Incoming Resources
Direct costs
Gross Surplus
Overheads
Support costs
Governance Costs
Operating Surplus
Net Surplus for the year
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Notes 2021
£
39,242
2,869		 2021
£
294,163
(82,226)
211,937
(42,111)
169,826
169,826
228,179
398,005		 2020
£
26,967
3,159		 2020
£
159,327
(68,528)
90,799
(30,126)
60,673
60,673
167,506
228,179
6
7
8
9

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NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS

FOR YEAR ENDED 31 AUGUST 2021

Balance Sheet

At 31 August 2021

eet Abbreviated Balance Sheet
Fixed Assets
Office equipment
Current Assets
Cash at Bank and in hand
Creditors
Amounts due within one year
Net current assets
Net Assets
Accumulated Funds
Restricted
Unrestricted		 Notes 2021
£
400,266
(3,153)		 2021
£
892
397,113
398,005
0
398,005
398,005		 2020
£
230,988
(3,068)		 2020
£
259
227,920
228,179
0
228,179
228,179
5
4

In approving these financial statements as directors of the company we hereby confirm:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the board and signed on behalf of them all.

Date: 27 April 2022

N Feiger Trustee and Director

The notes attached form part of the these accounts

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NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2021

Notes To The Accounts

1) Principal Accounting Policies

Basis of Accounting

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW), effective January 2016, and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

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

Rental Income 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

Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year. These estimates are based on the time and level of activity as appropriate.

Management and administration 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) Taxation

The Charitable Company is exempt from taxation on its charitable activities.

3) Incoming Resources

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

4)
Creditors
Accruals
Wages		 2021
£
1,300
1,853
3,153		 2020
£
650
2,418
3,068

Page 11

NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2021

Notes to the accounts (continued)

5) Fixed assets

Fixed assets
Cost
At 1 September 2020
Additions
Depreciation
At 1 September 2020
Charge for the year
Net Book Value
At 1 September 2020
At 31 August 2021
At 31 August 2021
At 31 August 2021		 Equipment
£
433
975
1,408
172
344
516
261
892

Page 12

NESIVOS HATORAH LTD Company limited by guarantee FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2021

Detailed profit and loss account and Statement of financial activities

Incoming Resources
6
Sponsorships & Donations
Grants
Parental contributions
Resources Expended
7
Charitable Activities
Cost of Activities In Furtherance
of the Charity's Objects
Books and Publications
Food and Consumables
Wages, staff recruitment and fees
Support costs
8
Cleaning expenses
Travel
Depreciation
Rent and Rates
Repairs and Renewals
Bank Charges
Miscellaneous
Printing, postage and stationery
Fundraising and incentives
Utilities
Telephone
Governance Costs
Independent Examiner Fees
9
Legal and Professional fees
Total Funds Expended
Accumulated Funds
Net surplus for the year
Balance brought forward
Balance carried forward		 2021
Unrestricted
£
244,923
3,000
46,240
294,163
1,347
58,917
21,962
82,226
225
2,039
344
13,845
2,407
431
218
771
15,741
1,402
1,819
39,242
650
2,219
2,869
124,337
169,826
228,179
398,005		 2021
Total
£
244,923
3,000
46,240
294,163
1,347
58,917
21,962
82,226
225
2,039
344
13,845
2,407
431
218
771
15,741
1,402
1,819
39,242
650
2,219
2,869
124,337
169,826
228,179
398,005		 2020
Unrestricted
£
117,778
2,179
39,370
159,327
547
37,676
30,305
68,528
35
5,843
86
13,760
2,336
305
32
434
590
2,506
1,040
26,967
650
2,509
3,159
98,654
60,673
167,506
228,179