**REGISTERED CHARITY NUMBER: 1179428**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021**
**FOR**
**BHS KOLLEL**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
**BHS KOLLEL**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021**
||**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 7|
**BHS KOLLEL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. 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 object of the CIO shall be the advancement of the Orthodox Jewish faith in such ways as the charity trustees think fit and in particular but without limitation by establishing, managing and supporting a learning centre for the public benefit known as BHS Kollel in North West London.
## **Significant activities**
Donations received are used to pay charitable grants to the students in the academy so as to satisfy the charitable criteria established in the objects.
## **Public benefit**
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy.
## **Volunteers**
There were no volunteers during the year.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Board of Trustees are satisfied with the performance of the charity during the period, consider that the charity is in a position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
## **Internal and external factors**
There are no specific factors to report.
## **FINANCIAL REVIEW**
## **Financial position**
The charity has had a successful year, raising £172,168 (2020: £98,228) in donations, and making research grants totalling £89,850 (2020: £88,457) to individuals in accordance with the objectives of the charity.
Total unrestricted funds at the year end was £75,168 (2020: £1,079).
## **Principal funding sources**
The principal funding sources are donations from individuals and limited companies.
## **Reserves policy**
At the year end, there was £84,168 (2020:£10,079) in reserves, which the trustees consider adequate.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Organisational structure**
The number of trustees must not be less than three or more than five.
Apart from the first trustees, every trustees must be appointed by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.
Page 1
**BHS KOLLEL**
**REPORT OF THE TRUSTEES**
**FOR THE YEAR ENDED 31 AUGUST 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1179428
## **Principal address**
10 Gresham Gardens London NW11 8PB
## **Trustees**
Mr J J Scharfer Mr A Ratzersdorfer Mr M S Itzinger
## **Independent Examiner**
Mr Daniel Fine, 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 29 June 2022 and signed on its behalf by:
................................................................. Mr A Ratzersdorfer - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
BHS KOLLEL
Independent examiner's report to the trustees of BHS Kollel
I report to the charity trustees on my eaMInatIon of the COUnts of BHS Kollel (the Trust) for the year ended
31 August 2021.
Responsibilities and basis of report
A5 the charity tru5tee5 01 the Trust you are responsible for the preparation of the &counts In accordance with the
requirernents of the Charities Art 2011 I'the Act,).
I report in respect of my examination of theTrusVs accounts carrSed out under section 145 of the Attand in carrySng out my
examination I have followeij all applicable Dlrections given by the CharSty Commlssion under section 14515llbl of the Act.
Independent examiner's statement
I have COTnpleted my examinètion. I confirm that no material matters have corne to my attentlon In connection with the
examinatK)n giving me cause to believe that in any material respect..
accounting records were not kept in respect ol the Trust as required by section 130 of the Act,. oi
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements Conrning the form and content of accounts set out
in the Charities IAccount5 and Report51 Regulations 2008 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.
I have no concerns and have come across no other matters in connertion with the exèminatlon to which attention should
be drawn in this report In order to enable a proper understandlng of the accounts to be reached.
Mr Daniel Fine, FCA
Melinek Fine LLP
Chartered Accountants
'rst Floor, Winston House
349 Regent5 Park Road
London
N3 IDH
Date.. 29 June 2022
Page 3
## **BHS KOLLEL**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
|**2021**
**Unrestricted**
**fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**172,169**
**EXPENDITURE ON**
Raising funds
**7,260**
**Charitable activities**
Charitable activities
**970**
Research grants
**89,850**
**Total**
**98,080**
**NET INCOME**
**74,089**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**1,079**
**TOTAL FUNDS CARRIED FORWARD**
**75,168**|2020
Total
funds
£
98,228
-
600
88,457
89,057
9,171
(8,092)
1,079|
|---|---|
The notes form part of these financial statements
Page 4
**BHS KOLLEL**
## **BALANCE SHEET**
## **31 AUGUST 2021**
|**2021**
**Unrestricted**
**fund**
Notes
**£**
**CURRENT ASSETS**
Debtors
3
**70,109**
Cash at bank
**15,559**
**85,668**
**CREDITORS**
Amounts falling due within one year
4
**(10,500)**
**NET CURRENT ASSETS**
**75,168**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**75,168**
**NET ASSETS**
**75,168**
**FUNDS**
Unrestricted funds
**75,168**
**TOTAL FUNDS**
**75,168**|2020
Total
funds
£
-
11,279
11,279
(10,200)
1,079
1,079
1,079
1,079
1,079|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 June 2022 and were signed on its behalf by:
............................................. Mr A Ratzersdorfer - Trustee
The notes form part of these financial statements
Page 5
**BHS KOLLEL**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **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 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.
## **2. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
continued...
Page 6
**BHS KOLLEL**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021**
## **3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
**4.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors|**2021**
**£**
**70,109**
**2021**
**£**
**600**
**9,900**
**10,500**|2020
£
-
2020
£
600
9,600
10,200|
|---|---|---|
## **5. RELATED PARTY DISCLOSURES**
Included in other creditors is an amount owed to one of the trustees.
Page 7