Yeshiva Gedola Nezer Hatorah 


Trustees' Report and Unaudited Accounts 

31 March 2022 



Yeshiva Gedola Nezer Hatorah Contents 

||Pages|
|---|---|
|Trustees'AnnualReport|2 to 3|
|Statement of FinancialActivities|4|
|BalanceSheet|5|
|Notesto the Accounts|6 to 11|
|DetailedStatement of FinancialActivities|12 to 13|



Page 1 



Yeshiva Gedola Nezer Hatorah Trustees Annual Report 

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2022. 

REFERENCE AND ADMINISTRATIVE DETAILS 

Charity No. 1180499 

Principal Office 

82 Bensham Road 

Gateshead 

NE8 1PS 

Trustees 

The following trustees served during the year: 

J. Brand 

Z. Winegarten 

S. Zahn 


Accountants 

S J Sheldon Ltd 

20 Clarence Road 

Hale 

Cheshire WA15 8SG 

Bankers 

Barclays Bank 

OBJECTIVES AND ACTIVITIES 

The purpose of the charity is set out in its governing document, constituted by trust deed on the 15th March 2018. 

During the year the charity received £507,079 in donations (2021: £560,008) and grants of £157,671 (2021: £94,962) 

Yeshiva Gedola Nezer Hatorah was set up to advance education and training of young people in subjects which will develop their capacity and skills to reach their full potential. The Charity also helps relieve financial hardship in particular but not exclusively by the provision of grants. 

Expenditure on charitable activities in the year was £640,589 (2021: £341,016) 

## ACHIEVEMENTS AND PERFORMANCE 

The trustees are satisfied with the performance in the year. 

A larger charity must provide an explanation of any material expenditure occurred to raise income in the future... 

FINANCIAL REVIEW 

Page 2 



Yeshiva Gedola Nezer Hatorah 

Trustees Annual Report 

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust and are satisfied that systems are in place to manage the charities exposure to those risks. 

The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure and they feel fortunate in having been able to maintain that level of reserves. 

## PLANS FOR FUTURE PERIODS 

As part of ongoing plans for the future, we are looking to carry on with our successful work and are constantly fundraising to cover our expenses. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation. 

## Statement of trustees' responsibilities in relation to the financial statements 

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. 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. 

Signed on behalf of the charity's trustees 

J. Brand Trustee 

23 November 2022 

Page 3 



Yeshiva Gedola Nezer Hatorah Statement of Financial Activities 

for the year ended 31 March 2022 

|for the year ended 31 March 2022|||||
|---|---|---|---|---|
|Notes<br>Income and endowments<br>from:<br>Donationsandlegacies<br>3<br>Other<br>4<br>Total<br>Expenditure on:<br>Grantsandgovernance<br>5<br>Charitableactivities<br>7<br>Total<br>Netgainsoninvestments<br>Netincome<br>8<br>Transfersbetweenfunds<br>Netincome before other<br>gains/(losses)<br>Othergainsandlosses<br>Net movementinfunds<br>Reconciliation of funds:<br>Totalfundsbroughtforward<br>Totalfundscarriedforward||Unrestricted<br>funds|Totalfunds|Totalfunds|
|||2022|2022|2021|
|||£|£|£|
||||||
|||507,079|507,079|560,008|
|||157,671|157,671|94,980|
|||664,750|664,750|654,988|
||||||
|||2,350|2,350|42,582|
|||640,589|640,589|341,016|
|||642,939|642,939|383,598|
|||-|-|-|
|||21,811|21,811|271,390|
|||-|-|-|
|||21,811|21,811|271,390|
||||||
|||21,811|21,811|271,390|
||||||
|||326,093|326,093|54,703|
|||347,904|347,904|326,093|
||||||
||||||
||||||



Page 4 



Yeshiva Gedola Nezer Hatorah Balance Sheet 

at 31 March 2022 

|at 31 March 2022|||
|---|---|---|
|Charity No.1180499<br>Fixed assets<br>Tangibleassets<br>10<br>Current assets<br>Cashat bankandin hand<br>Creditors: Amountfallingdue within one year<br>11<br>Netcurrent assets<br>Totalassets lesscurrentliabilities<br>Creditors: Amountsfallingdueafter more than one year<br>12<br>Net assetsexcludingpension asset orliability<br>Totalnet assets<br>Thefundsofthecharity<br>Restrictedfunds<br>13<br>Unrestrictedfunds<br>13<br>Generalfunds<br>Reserves<br>13<br>Totalfunds|2022<br>£<br>527,633<br>527,633<br>154,389<br>154,389<br>(13,284)<br>141,105<br>668,738<br>(320,834)<br>347,904<br>347,904<br>347,904<br>347,904<br>347,904|2021<br>£<br>384,058|
|||384,058<br>311,719|
|||311,719<br>(8,270)|
|||303,449<br>687,507<br>(361,414)|
|||326,093|
|||326,093|
|||326,093|
|||326,093|
|||326,093|



Approved by the trustees on 23 November 2022 

And signed on their behalf by: 

J. Brand Trustee 23 November 2022 

Page 5 



Yeshiva Gedola Nezer Hatorah 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 Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. 

## 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 6 



Yeshiva Gedola Nezer Hatorah 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 tax on its charitable activities. 

## Freehold investment property 

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. 

## Stocks 

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. 

## 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. 

Page 7 



Yeshiva Gedola Nezer Hatorah 

Notes to the Accounts 

## 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 Statement of Financial Activities - prior year 

|2<br>Statement ofFinancialActivities-prior year||||
|---|---|---|---|
|Income and endowmentsfrom:<br>Donationsandlegacies<br>Other<br>Total<br>Expenditure on:<br>Charitableactivities<br>Other<br>Total<br>Netincome<br>Netincome before other<br>gains/(losses)<br>Othergainsandlosses:<br>Net movementinfunds<br>Reconciliation of funds:<br>Totalfundsbroughtforward<br>Totalfundscarriedforward<br>3<br>Incomefrom donationsandlegacies<br>4<br>Otherincome<br>Grants<br>HMRCGrants<br>Bankloyalty reward|Unrestricted<br>£<br>507,079<br>507,079<br>Unrestricted<br>£<br>157,671<br>-<br>-<br>157,671|Unrestricted<br>funds<br>2021<br>£<br>560,008<br>94,980<br>654,988<br>42,582<br>341,016<br>383,598<br>271,390<br>271,390<br>271,390<br>54,703<br>326,093<br>Total<br>2022<br>£<br>507,079<br>507,079<br>Total<br>2022<br>£<br>157,671<br>-<br>-<br>157,671|Totalfunds<br>2021<br>£<br>560,008<br>94,980|
||||654,988<br>42,582<br>341,016|
||||383,598|
||||271,390|
||||271,390|
||||271,390<br>54,703|
||||326,093|
||||Total<br>2021<br>£<br>560,008|
||||560,008|
||||Total<br>2021<br>£<br>80,750<br>14,212<br>18|
||||94,980|



Page 8 



Yeshiva Gedola Nezer Hatorah Notes to the Accounts 

- 5 Grants and governance 

|5<br>Grantsandgovernance||||
|---|---|---|---|
|Expenditureoncharitable<br>activities<br>Grantsmade<br>Governancecosts<br>Fundraising<br>Professionalfees<br>Bankcharges<br>6<br>Analysisof grants<br>Activity or programme<br>Grantsmade<br>Activity or programme<br>Grantsmade<br>Charitableactivities|Unrestricted<br>£<br>2,350<br>-<br>-<br>-<br>2,350<br>Grantsto<br>Individuals<br>£<br>2,350<br>2,350<br>Grant<br>fundingof<br>activities<br>£<br>2,350<br>640,589<br>642,939|Total<br>2022<br>£<br>2,350<br>-<br>-<br>-<br>2,350<br>Total<br>2022<br>£<br>2,350<br>2,350<br>Total<br>2022<br>£<br>2,350<br>640,589<br>642,939|Total<br>2021<br>£<br>-<br>33,515<br>3,097<br>5,970|
||||42,582|
||||Total<br>2021<br>£<br>-|
||||-|
||||Total<br>2021<br>£|
||||-|
||||-|
||||-|



Page 9 



Yeshiva Gedola Nezer Hatorah 

Notes to the Accounts 

7 Charitable activities and running costs 

|7<br>Charitable activitiesand runningcosts||||
|---|---|---|---|
|Food & refreshments<br>Activities<br>Recreation<br>Employeecosts<br>Motorand travelcosts<br>Premises costs<br>Amortisation,depreciation,<br>impairment,profit/losson<br>disposalof fixedassets<br>Generaladministrativecosts<br>Legaland professionalcosts<br>8<br>Netincome before transfers<br>Thisis statedaftercharging:<br>Depreciation ofownedfixedassets<br>9<br>Staffcosts<br>Salariesand wages<br>No employee received emolumentsin excessof£60,000.<br>10 Tangiblefixed assets<br>Cost or revaluation<br>At 1 April2021<br>Additions<br>At 31 March 2022<br>Depreciation and<br>impairment<br>At 1 April2021<br>Depreciationchargefor the<br>year<br>At 31 March 2022<br>Net bookvalues<br>At 31 March 2022<br>At 31 March 2021|Unrestricted<br>£<br>128,727<br>38,892<br>11,287<br>161,696<br>4,549<br>283,686<br>467<br>8,364<br>2,921<br>640,589<br>2022<br>£<br>467<br>2022<br>161,696<br>161,696<br>£<br>381,722<br>144,042<br>525,764<br>-<br>-<br>-<br>525,764<br>381,722|Total<br>2022<br>£<br>128,727<br>38,892<br>11,287<br>161,696<br>4,549<br>283,686<br>467<br>8,364<br>2,921<br>640,589<br>£<br>4,561<br>-<br>4,561<br>2,225<br>467<br>2,692<br>1,869<br>2,336|Total<br>2021<br>£<br>102,966<br>-<br>2,727<br>99,838<br>-<br>129,429<br>583<br>5,473<br>-|
||||341,016|
||||2021<br>£<br>583<br>2021<br>99,838|
||||99,838|
||||£<br>386,283<br>144,042|
||||530,325|
||||2,225<br>467|
||||2,692|
||||527,633|
||||384,058|



Page 10 



Yeshiva Gedola Nezer Hatorah Notes to the Accounts 

## 11 Creditors: 

amounts falling due within one year 

|11 Creditors:<br>amountsfallingdue within one year||||
|---|---|---|---|
|Bankloansand overdrafts<br>Othercreditors<br>12 Creditors:<br>amountsfallingdueafter more than one year<br>Bankloansand overdrafts<br>13 Movementinfunds<br>At 1 April<br>2021<br>Restrictedfunds:<br>Unrestrictedfunds:<br>Generalfunds<br>326,093<br>Totalfunds<br>326,093<br>14 Analysisofnet assetsbetweenfunds<br>Fixedassets<br>Netcurrentassets<br>Creditorsduein more than one yearand<br>provisions<br>15 Reconciliation ofnet debt<br>Cashandcash equivalents<br>Bankloans<br>Net debt|2022<br>£<br>5,000<br>8,284<br>13,284<br>2022<br>£<br>320,834<br>320,834<br>Incoming<br>resources<br>(including<br>other<br>gains/losses<br>)<br>£<br>664,750<br>664,750<br>At 1 April<br>2021<br>£|Resources<br>expended<br>£<br>(642,939)<br>(642,939)<br>Unrestricted<br>funds<br>£<br>527,633<br>141,105<br>(320,834)<br>347,904<br>Cashflows<br>£|2021<br>£<br>-<br>8,270|
||||8,270|
||||2021<br>£<br>361,414|
||||361,414|
||||At 31<br>March<br>2022<br>£<br>347,904|
||||347,904|
||||Total<br>£<br>527,633<br>141,105<br>(320,834)|
||||347,904|
||||At 31<br>March<br>2022<br>£|
||311,719|(157,330)|154,389|
||311,719<br>(361,414)|(157,330)|154,389<br>(325,834)|
|Bankloans||35,580||
|Net debt|(361,414)<br>(49,695)|35,580<br>(121,750)|(325,834)|
||||(171,445)|



Page 11 



Yeshiva Gedola Nezer Hatorah
Notes to the Accounts
Page 12

Yeshiva Gedola Nezer Hatorah Statement of Cash flows for the year ended 31 March 2022 

|Cashflowsfrom operatingactivities<br>Netincome perStatement ofFinancialActivities<br>Adjustmentsfor:<br>Depreciation ofproperty,plantand equipment<br>Dividends,interestand rentsfrominvestments<br>Increase/(Decrease)in tradeand other payables<br>Netcash usedin operatingactivities<br>Cashflowsfrominvestingactivities<br>Paymentsfor property,plantand equipment<br>Dividends,interestand rentsfrominvestments<br>Netcashfrom/(usedin)investingactivities<br>Cashflowsfromfinancingactivities<br>Repayment ofborrowings<br>Netcash(usedin)/fromfinancingactivities<br>Net(decrease)/increaseincash andcash equivalents<br>Cash andcash equivalentsat the beginningofthe year<br>Cash andcash equivalentsat the end ofthe year|2022<br>£<br>21,811<br>467<br>(157,671)<br>14<br>(135,379)<br>(144,042)<br>157,671<br>13,629<br>(35,580)<br>(35,580)<br>(157,330)<br>311,719<br>154,389|2021<br>£<br>271,390<br>583<br>(94,980)<br>(199,999)|
|---|---|---|
|||(23,006)<br>(130,000)<br>94,980|
|||(35,020)|
|||361,414|
|||361,414|
||||
|||303,388|
|||8,331|
|||311,719|
||||
|Componentsofcash andcash equivalents|||
|Cashand bankbalances|154,389|311,719|
||||
||154,389|311,719|



Page 13 



Yeshiva Gedola Nezer Hatorah Detailed Statement of Financial Activities 

## for the year ended 31 March 2022 

|for the year ended 31 March 2022||||
|---|---|---|---|
|Income and endowmentsfrom:<br>Donationsandlegacies<br>Other<br>Grants<br>HMRCGrants<br>Bankloyalty reward<br>Total income and endowments<br>Expenditure on:<br>Charitableactivities<br>Grantsmade<br>Governancecosts<br>Fundraising<br>Professionalfees<br>Bankcharges<br>Totalofexpenditure oncharitable<br>activities<br>Other expenditure<br>Food & refreshments<br>Activities<br>Recreation<br>Employeecosts<br>Salaries/wages<br>Motorand travelcosts<br>Travelandsubsistence<br>Premises costs<br>Rent<br>Rates<br>Light,heatand power<br>Premises cleaning<br>Premisesinsurances|Unrestricted<br>funds<br>2022<br>£<br>507,079<br>507,079<br>157,671<br>-<br>-<br>157,671<br>664,750<br>2,350<br>2,350<br>-<br>-<br>-<br>-<br>2,350<br>128,727<br>38,892<br>11,287<br>178,906<br>161,696<br>161,696<br>4,549<br>4,549<br>5,340<br>2,514<br>14,549<br>1,422<br>3,357|Totalfunds<br>2022<br>£<br>507,079<br>507,079<br>157,671<br>-<br>-<br>157,671<br>664,750<br>2,350<br>2,350<br>-<br>-<br>-<br>-<br>2,350<br>128,727<br>38,892<br>11,287<br>178,906<br>161,696<br>161,696<br>4,549<br>4,549<br>5,340<br>2,514<br>14,549<br>1,422<br>3,357|Totalfunds<br>2021<br>£<br>560,008|
||||560,008|
||||80,750<br>14,212<br>18|
||||94,980|
||||654,988<br>-|
||||-|
||||33,515<br>3,097<br>5,970|
||||42,582|
||||42,582<br>102,966<br>-<br>2,727|
||||105,693|
||||99,838|
||||99,838|
||||-|
||||-|
||||4,766<br>2,070<br>8,133<br>1,813<br>-|



Page 14 



## Yeshiva Gedola Nezer Hatorah 

Detailed Statement of Financial Activities 

|Yeshiva Gedola Nezer Hatorah<br>DetailedStatement ofFinancialActivities||||
|---|---|---|---|
|Premisesrepairsand<br>maintenance<br>Other premises costs<br>Generaladministrativecosts,<br>includingdepreciationand<br>amortisation<br>Depreciation of<br>Bankcharges<br>General insurances<br>Postageandcouriers<br>Software,ITsupportand related<br>costs<br>Stationeryand printing<br>Sundry expenses<br>Telephone,fax and broadband<br>Legaland professionalcosts<br>Otherlegaland professional<br>costs<br>Totalofexpenditure ofothercosts<br>Totalexpenditure<br>Netgainsoninvestments<br>Netincome<br>Netincome before other<br>gains/(losses)<br>Other Gains<br>Net movementinfunds<br>Reconciliation of funds:<br>Totalfundsbroughtforward<br>Totalfundscarriedforward|107,253<br>149,251<br>283,686<br>467<br>1,475<br>-<br>22<br>373<br>410<br>5,208<br>876<br>8,831<br>2,921<br>2,921<br>640,589<br>642,939<br>-<br>21,811<br>21,811<br>-<br>21,811<br>326,093<br>347,904|107,253<br>149,251<br>283,686<br>467<br>1,475<br>-<br>22<br>373<br>410<br>5,208<br>876<br>8,831<br>2,921<br>2,921<br>640,589<br>642,939<br>-<br>21,811<br>21,811<br>-<br>21,811<br>326,093<br>347,904|96,266<br>16,381|
||||129,429|
||||583<br>-<br>3,631<br>336<br>438<br>-<br>54<br>1,014|
||||6,056|
||||-|
||||-|
|||||
||||341,016|
||||383,598<br>-|
||||271,390|
||||271,390<br>-|
||||271,390|
||||54,703|
||||326,093|



Page 15