REGISTERED COMPANY NUMBER: 09842626 (England and Wales) REGISTERED CHARITY NUMBER: 1175576
Report of the Trustees and
Unaudited Financial Statements FOR THE YEAR ENDED 31 October 2024 for
BEIS HAMEDRASH IMREI SHEFER LIMITED
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
BEIS HAMEDRASH IMREI SHEFER LIMITED
Contents of the Financial Statements FOR THE YEAR ENDED 31 OCTOBER 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
BEIS HAMEDRASH IMREI SHEFER LIMITED (REGISTERED NUMBER: 09842626)
Report of the Trustees FOR THE YEAR ENDED 31 OCTOBER 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2024. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity’s core objective is to promote the Orthodox Jewish religion. This is achieved primarily through the operation and maintenance of a synagogue, which serves as a centre for communal prayer, religious worship, and Torah study. The charity also works to alleviate hardship within the community through the relief of poverty.
Public benefit
The trustees confirm that they have had regard to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives, and when planning its current and future activities. They remain committed to ensuring that all of the charity’s work continues to deliver clear and meaningful benefit to the public in line with its charitable purposes.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, the charity successfully maintained and operated its synagogue, offering regular services that were attended by an increasing number of participants. It continued to provide religious education and hosted a range of lectures and events, including public talks by the Rabbi that attracted strong attendance and engagement. Alongside its religious activities, the charity remained active in its charitable giving, providing grants to individuals in need.
FINANCIAL REVIEW
Financial position
During the year, the charity received total income of £154,871, compared to £199,434 in the previous year. This consisted primarily of donations and legacies amounting to £142,288, alongside investment income of £12,583, most of which derived from rental income.
Total expenditure for the year was £145,185, an increase from £129,830 in 2023. The main areas of spending included synagogue running costs of £53,192, events and educational activities totalling £45,286, and charitable grants and other forms of support amounting to £46,707.
The year closed with a surplus of £9,686, down from £69,604 in the prior year. As a result, total funds at the year-end stood at £1,309,416, all of which were held as unrestricted reserves.
The most significant asset held by the charity remains its freehold property, which is valued at £1,713,855 and serves as the central premises for the synagogue and associated community activities.
Reserves policy
The charity aims to maintain sufficient reserves to continue operations in the event of reduced income or unexpected costs. The trustees are satisfied with the current level of reserves.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The charity is managed by its trustees, who also serve as directors of the charitable company. The trustees take an active role in overseeing the day-to-day and strategic operations of the charity. They meet regularly throughout the year to discuss the charity’s financial position, review ongoing activities, and make key decisions regarding future plans and priorities.
All significant matters, including financial commitments, charitable initiatives, and property matters, are considered collectively, either at trustee meetings or by unanimous written resolution where appropriate. The trustees bring a range of experience and community insight to their roles and act in accordance with the charity’s governing document, ensuring that all decisions align with its objectives and serve the best interests of its beneficiaries.
Page 1
BEIS HAMEDRASH IMREI SHEFER LIMITED (REGISTERED NUMBER: 09842626)
Report of the Trustees FOR THE YEAR ENDED 31 OCTOBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
New trustees are appointed in accordance with the charity’s Articles of Association and are given appropriate information and guidance to ensure they are aware of their responsibilities and understand the work of the charity.
Risk management
The trustees recognise the importance of identifying and managing the key risks to which the charity is exposed. As part of their oversight responsibilities, they review the principal risks on a regular basis and take steps to ensure that appropriate controls and procedures are in place to mitigate them.
The main areas of risk include financial sustainability, given the reliance on voluntary donations, and the ability to meet ongoing loan repayments. The trustees actively monitor income and expenditure to ensure that the charity remains in a stable financial position. In addition, operational risks such as health and safety, safeguarding, and the maintenance of the property are considered as part of routine management.
Where appropriate, the trustees seek professional advice and maintain insurance cover to protect the charity’s assets and activities. Overall, the trustees are satisfied that reasonable measures are in place to manage the charity’s risks proportionately and effectively.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
09842626 (England and Wales)
Registered Charity number
1175576
Registered office
First Floor Winston House 349 Regents Park Road London N3 1DH
Trustees
Mr S Leitner Mr A Moore
Independent Examiner
Aryeh Melinek, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 28 July 2025 and signed on its behalf by:
Mr S Leitner - Trustee
Page 2
Independent Examiner's Report to the Trustees of Beis Hamedrash Imrei Shefer Limited (Registered number: 09842626)
Independent examiner's report to the trustees of Beis Hamedrash Imrei Shefer Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts 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
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the accounts 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.
Aryeh Melinek, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
28 July 2025
Page 3
BEIS HAMEDRASH IMREI SHEFER LIMITED
Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 OCTOBER 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Charitable activities Synagogue running costs Events Other charitable activities Grants to individuals Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Unrestricted fund £ 142,288 12,583 154,871 53,192 45,286 40,707 6,000 145,185 9,686 1,299,730 1,309,416 |
2023 Total funds £ 188,911 10,523 199,434 47,607 38,105 39,218 4,900 129,830 69,604 1,230,126 1,299,730 |
|---|---|---|
The notes form part of these financial statements
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BEIS HAMEDRASH IMREI SHEFER LIMITED (REGISTERED NUMBER: 09842626)
Balance Sheet 31 OCTOBER 2024
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2024 Unrestricted fund £ 1,723,080 26,562 4,573 31,135 (14,098) 17,037 1,740,117 (430,701) 1,309,416 1,309,416 1,309,416 |
2023 Total funds £ 1,695,748 15,232 39,122 54,354 (9,505) 44,849 1,740,597 (440,867) 1,299,730 1,299,730 1,299,730 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 July 2025 and were signed on its behalf by:
Mr S Leitner - Trustee
The notes form part of these financial statements
Page 5
BEIS HAMEDRASH IMREI SHEFER LIMITED
Notes to the Financial Statements FOR THE YEAR ENDED 31 OCTOBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Legal status of the charity
The charity is a company limited by guarantee and has no share capital. Liability of each member in the event of winding-up is limited to £1.
Financial Instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.
continued...
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BEIS HAMEDRASH IMREI SHEFER LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 OCTOBER 2024
2. INVESTMENT INCOME
| Rents received Deposit account interest |
2024 £ 12,500 83 12,583 |
2023 £ 10,500 23 |
|---|---|---|
| 10,523 |
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 1,037 | 1,005 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| Employees No employees received emoluments in excess of £60,000. TANGIBLE FIXED ASSETS COST At 1 November 2023 Additions At 31 October 2024 DEPRECIATION At 1 November 2023 Charge for year At 31 October 2024 NET BOOK VALUE At 31 October 2024 At 31 October 2023 |
Freehold property £ 1,686,700 27,155 1,713,855 - - - 1,713,855 1,686,700 |
2024 2 Fixtures and fittings £ 10,053 1,214 11,267 1,005 1,037 2,042 9,225 9,048 |
2023 2 Totals £ 1,696,753 28,369 |
|
|---|---|---|---|---|
| 1,725,122 | ||||
| 1,005 1,037 |
||||
| 2,042 | ||||
| 1,723,080 | ||||
| 1,695,748 |
continued...
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BEIS HAMEDRASH IMREI SHEFER LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 OCTOBER 2024
| 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 10) Trade creditors 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 10) 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 11. SECURED DEBTS The following secured debts are included within creditors: Bank loans |
2024 £ 26,562 2024 £ 10,153 3,945 14,098 2024 £ 430,701 2024 £ 10,153 11,278 39,332 380,091 2024 £ 440,854 |
2023 £ 15,232 2023 £ 8,164 1,341 9,505 2023 £ 440,867 2023 £ 8,164 9,325 33,168 398,374 2023 £ 449,031 |
|---|---|---|
continued...
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BEIS HAMEDRASH IMREI SHEFER LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 OCTOBER 2024
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2024.
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