Charity Registration No. 1176439 SHALSHELES Trustees, Report and Financial Statements For the year ended 31 August 2023 SEFfoN YODAIKEN & CO. LTD CHARTERED ACcOUNTAs Fainvays House l)restwich Manchester M25 9WS
•Shalsheles• CONTENTS Page Trustees, report Statement of financial activities Balance sheet Notes to the accounts 7-10 Independent examiners report 11
•Shalsheles' Annual Report of the Trustees For the year ended 31 August 2023 The TrLtsteel present their annual report for the year ended 31 August 2023 under the Charities Act 2011, together with the unaudited accounts for the year, and confirni that the latter comply with the requirements of the Act, the Trnst Deed and the Charities SORP FRSIOI REFERENCE AND ADMINISTRATIVE FORmATIoN The charity registration number is 1176439 Trnstees: Mr Aryeh khonberg Mr Abraharn Posen Mr Zvi Abenson Charity offi. 4 Middleton Road Manchester M8 SDS Accountants: Sefton Yodaiken &T Co. Ltd Fairways House George Street M25 9WS STRuclluiL G0vERNANCEAT MANAGEMWf Governing Body and Appointment of Trustee8 The structure of the charity consists of one set of lrnstees. The ira of trustees is authorised to appoint new trustees. Rlsk Management The iTUStees are responsible for the managenTrt of the risk8 faced by the charity. The trustees meet TegularIy every month to review the risk management procesge8. Financial and operational risks are considered ateach nwnthly meeting and mitigating actions have been put in pjace where necessary. Objects, aims, objectives and activities The charity is constituted by trust deed and its obiects are to provide the choice of 7 A levels and 4 level 3 quaIifAcations for 8irls between the ages of 1&18. A variety of vocational courses offered hairdTessing. aerobics, nutrition etc. Nurtures theAr physical and emotional developmenL Small in numbers so can provide indtvidual help and can follow carefully their standard. Gives them an understanding and appreciation of their heritage. Teaches girls life Bkills to prepare them for their future careers and lifegoals. Provide extra curricula activities induding trAps both in the UK and abroad to develop the girls in all areas. Teaches them to reach out and feel responsible for the wider conunurrity. Includes activities that our students offer for younger girls (8-13) to help them Overcon social challenges, EncouTage girls to think independently and develop their critical thinkins Skills. Personal and emotional development improving their characters to help them become capable responsible adults and outstanding menthers of society.
•Shalsheles' Annual Report of the Trnstees For the year ended 31 August 2023 Statement of Trustees, Responsibilitie8 The Trnstee's are required under the Charities Act 2011 to prepare financial statements for each financ1 year whÈch gKve a true and fair view of the charitys financial activities during the year and its flnancial position at the end of the financ year. In preparing those financial statements giving a true and fair view. the board of trustees should follow best pract1 and: Select suitable accounting policies and then apply them consistently; Make iudgenients and estinteS that are reasonable and prudent State whether applicable accounting standards and statements of reconunended practice have been followed, subject to any departures diselosed and explained in the financial statements; Prepare the financial ststernents on the going concem basis unless it is inappropriate to presume that the charity will continue to operate. The trustees are al80 responsÈble for keeping proper accounting records which disdose rea80nable accuracy the financial wysition of the charity and which enable them to ascertain the financÈal position of the charity to ensure that the finanaal statements comply with the requirenients of applicable law and regulation8. They are also responsibIe for safeguarding the assets 0£ the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The report was approved by the tsustees on and signed on their behaIf: Mr A Posen Trnstee
•ShalsheLes• Statement of Financial Activitie8 For the year ended 31 August 2023 UnTestricted funds Restricted funds 2023 Total funds Totsl funds 2022 Notes Donations and legaaes Other income Surplus on sale of propety 50,0 50.750 281A59 84,962 467,859 467,859 Total income 467859 50,000 517*59 417.171 Expenditure Expenditure on charitable activities Exceptional costs Grants distributed 316,793 32J17 316,793 32?07 240,090 33394 203 Total expenditure 349,1(Kl 349,1(Xl 273,687 Net income and net llement in funds RecottciliAtio# offvmls Total funds broughtforward 118.759 50,000 168,759 143A84 261,n9 150,0(X) 411,n9 268,235 Totsl funds carried forward 380,478 200,(XM) 580.478 411,719
•Shalsheles• Balance Sheet As at 31 August 2023 Notes 2023 2022 Fixed a$8ets Tangible assets 1,259,128 1,170573 Current a88ets Debtor8 io 33,997 31150 30,854 66,147 (650) 30,854 (650) Creditors: due in one year li Net current assets 65,497 30,204 Total assets less current liabilities 1,324,625 1,200,777 credit due after one year 12 (744.147) (789,058) 580A78 411,n9 Funds of the charity Restricted funds Unrestricted funds 200,(KKi 380A78 150,(KKi 261,719 580.478 411.n9 The fInarla1 statements were approved by the board of tsustee8 and authorized for i58ue on and are signed on Ed]alf of the EM)ard ty. Mr A Posen Trustee
*ShalsheIes• Notes to the Financial Statements For the year ended 31 August 2023 General inforniation The charity is a public entity and a registered charity in England and Wales and is unincorporated. The principal office is 4 Middleton Road Salford M8 SDS. Statement of compliance The8e financial ststements have been prepared in comp]lan with FRS 102, 'The Financlal Reporting Standard applicable in the UK and the RepubIic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (Clwities RP (FRS 102)) and the Charities Act 2010. Accountxng Policies Basis of preparation The financial statements have been prepared on the historical cost baBi8. Going eoncem There are no material uncetieS about the charitys ability to continue. Fund accounting UnrestrACted funds are those available for use for general Purp( at the discretion of the charity trnstees arld governors in TtheTanCe of the charitrfs objects. Incomirtg resources All incoming resources are included in the Statenlt of financial aclivities when entitlement has passed to the charity. Lt 18 probable that the economic benefits assoclated with the transaction will flow to the clwlty and the amount can be re]iably measured. The following specific policles are applied to particular categories of income: Income from donations or 8rants is recolsed Wh there is evidence of entitIennt to the gfjt, receipt is probable and its amount can be measured reliably. Fees and registration fees relate to parentat contribution and are accounted where there is evidence of entitlenient and can be measured reliably. Resources Expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure indudes any VAT which cannot be fully recovered. All costs are allocated to expenditure categories refiecting the use of the resource. Tansible assets Tangible assets are inittally recorded at cost and subsequently stated atCO8t less any accumulated depreciation and impairment losses.
.Shalsheles• Notes to the Financial Statements For the year ended 31 August 2023 Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset less its residual value over the useful economic life of that asset as fo]lows: Fixtures and fittings-15% reducing balance Computer equipment- 15% reducing balance Defined Contribution plans Contributions to ddined contribution plans are recognised as an expense in the period in which the related service is provided. Donations and legacies Unrestricted funds Restricted Total funds Total £unds funds 2023 Donations 50,(XK) 50,750 Other income Unrestricted funds 2023 Unrestricted funds 2022 Student fees Government funding 2023/22 CST security grant Government furlough ants 183,818 263,189 20,852 IiO,W4 170,759 467,859 281,459
.Shalsheles• Notes to the Financial Statements For the year ended 31 August 2023 Analysis of expendlture Support costs 2023 2022 Staff costs 119288 48,462 110 17,919 2,083 7(M) 48250 s50 5,001 5,239 2,777 20,617 21090 524 780 1,606 650 1,310 229 1288 IA56 7,500 1,953 1.411 98,053 30,778 160 8A15 1,414 3,294 32,158 12,448 2,476 2,080 Advertising Cleaning and waste Telephone and internet Repairs Extracurricular activities Exam registration fees Insurance Postagei printin& stationery Rates General office and supplies Travel Water Governance costs Bank and sitnilar charges Training costs Equipment leasing Professional fees Library costs Heat and light- current Heat and light- hÉstoric Depreciation Sundry 6,736 29,406 362 1,701 2,812 989 693 2,253 316,793 240,090 Exceplional costs 2022 Rent Other interest payable Consultancy fees Lenders fees tegal fees T Security costs IK)ss due fraud Purchase extension fee 10.000 6.774 975 20,852 io,(K)o 1,620 32207 33394
•Shalsheles • Notes to the Financial Statements For the year ended 31 August 2023 Staff costs 2022 Wages and salaries tECturers S()cial security costs Employer pension contributions 116,465 48,462 95296 30,778 1,743 1,014 1fi90 167,750 I2831 No employee received employee benefits 0£ more than £60,0(K) during the year Particulars of employees The average nunther OE employees during the year was as follows: Teaching and administrative staff Trustee remuneratl(m and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the Trnstees. Tangible Assets Land & buildings Computer Fixtures and £ Eqwpment Fitting Total Cost B/F AddifiCS Refurbishments Portacabins 1.166fi46 15,935 57A76 8,000 4,919 1.735 1,173JOO 25.032 57A76 1,248,057 4.919 10,832 1,263308 DePrlation B/F Charge foT the year I98 453 829 1,500 2,727 1,953 2,351 2J29 4,680 Carrying amount At 31 August 2023 1,248.057 2,568 83 1,259.128 At 31 August 2022 1,166,646 3,021 1,170573 io
•Shalsheles• Notes to the Financial Statements For the year ended 31 August 2023 Debtors: amounts due in one year io. 2022 2021 New building deposit Other debtOTS 36.IK)O 771 33,997 33,997 36,771 ii. Creditors: amounts due in one year 2023 2022 Trade creditors 650 650 Credit¢)rs: anwunts due after one year 2023 Bank loans Other credAtors and accrnals 28,026 716,121 37fi51 751,207 744,147 789,058
•Shalsheles• Independent examiners report for the trustees For the year ended 31 August 2023 I report on the accounts of the Trust for the year ended 31 August 2023 which are set out on pages 7 to 8. Respective re8ponsxbilitie8 of trnstees and examiner As the charity's trustee5 you are responsible for the preparation of the accounts. You corLsider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act, whether particular matters have Come to my attention. Basi8 0£ independent examinerfs report My 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 indudes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently do not express an audit opinion on the view given by the accounts. Independent ekniminerfs statement In connectton with my examinatio no matter has come to my attentio (l) Which gives me reasonable cause to believe that in any material respect the requirements (I) (u) to keep accounting records in accordance with section 130 of the Act. and to prepare accounts which accord with the accounting records and to compIy with the accounting requirement of the Act have not been met. or (2) to whiclL in my opinion, attention should be drawn An order to enable a proper understanding of the accounts to be reached. Mr. Sefton Yodaiken 12