**REGISTERED CHARITY NUMBER: 1182965** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **FOR** ## **KINYAN HATORAH UK** DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11D London N4 1TJ **KINYAN HATORAH UK** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** |||**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| ## **KINYAN HATORAH UK** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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 objectives are to further those purposes both in the United Kingdom and abroad recognised as charitable by English Law. The primary objective of the charity, although not restricted to, is the advancement of the Jewish faith through establishing, managing and supporting a Jewish education centre in North West London and through the holding of educational events, public lectures, educational trips to Israel and celebrations of religious festivals. The charity receives income mainly from charitable donations, which it utilises in the provision and distribution of grants and donations. The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities. ## **Grantmaking** Grants are made to needy individuals in accordance with the objects of the charity. In making decisions in regards to the allocation of grants and donations, the trustees use their personal knowledge of the individuals. The amount of the grant and donation granted is based on the level of funds available. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** During the year the charity pursued its charitable objects. Income from donations aggregated £187,723 (2022: £146,320) and total resources expended was £184,064 (2022: £140,215) resulting in a net surplus of £3,659 (2022: £6,105). ## **FINANCIAL REVIEW** ## **Financial position** The financial results of the charity for the year ending 31 March 2023 are fully reflected in the attached Financial Statements together with the Notes thereon. The trustees are satisfied with the results for the year. As at 31 March 2023, the charity had unrestricted funds of £19,265 (2022: £15,606). ## **Reserves policy** It is the policy of the charity to maintain unrestricted funds, which include the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely costs of the charity for the next year. ## **FUTURE PLANS** The future plans of the charity are to continue supporting the advancement of the Jewish faith and religion, whilst ensuring that the ability to generate sufficient income is maintained to achieve that end. Page 1 **KINYAN HATORAH UK** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ## **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** New trustees are appointed based on personal competence, specialist skills and availability. New trustees are inducted into the workings of the charity by the existing trustees. The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Charity number** 1182965 ## **Principal address** First floor, 12 Russell Parade Golders Green Road London NW11 9NN ## **Trustees** Mr L M Isaacs Mr J D Ben-Zion Mr B J Cohen ## **Independent Examiner** Pesach Davidoff FCCA DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11D London N4 1TJ Approved by order of the board of trustees on 25 January 2024 and signed on its behalf by: Mr L M Isaacs - Trustee Page 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KINYAN HATORAH UK** ## **Independent examiner's report to the trustees of Kinyan Hatorah UK** I report to the charity trustees on my examination of the accounts of Kinyan Hatorah UK (the Trust) for the year ended 31 March 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) 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 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. Pesach Davidoff FCCA DAS Accounting Services Ltd 105 Eade Road OCC Building A 2nd Floor Unit 11D London N4 1TJ 25 January 2024 Page 3 ## **KINYAN HATORAH UK** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |**2023**
**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
187,723
**EXPENDITURE ON**
**Charitable activities**
2
Charitable activities
184,064
**NET INCOME**
3,659
**RECONCILIATION OF FUNDS**
Total funds brought forward
15,606
**TOTAL FUNDS CARRIED FORWARD**
19,265|**2022**
**Total**
**funds**
**£**
146,320
140,215
6,105
9,501
15,606| |---|---| The notes form part of these financial statements Page 4 ## **KINYAN HATORAH UK** ## **BALANCE SHEET 31 MARCH 2023** |**Notes**
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
8
Unrestricted funds
**TOTAL FUNDS**|**2023**
**Total**
**funds**
**£**
25,918
(6,653)
19,265
19,265
19,265
19,265
19,265|**2022**
**Total**
**funds**
**£**
17,541
(1,935)
15,606
15,606
15,606
15,606
15,606| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 25 January 2024 and were signed on its behalf by: Mr L M Isaacs - Trustee The notes form part of these financial statements Page 5 **KINYAN HATORAH UK** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **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. ## **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. ## **Governance costs** Governance costs include cost of the preparation and independent examination of financial statements and cost of any legal advice to trustees on governance or constitutional matters. ## **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. The charity had no restricted funds as at the Balance Sheet date. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Financial instruments** Basic financial instruments are classified at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. continued... Page 6 ## **KINYAN HATORAH UK** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **2. CHARITABLE ACTIVITIES COSTS** |**CHARITABLE ACTIVITIES COSTS**||||| |---|---|---|---|---| |Charitable activities
**SUPPORT COSTS**
**Management**
**£**
Charitable activities
13,410
**INDEPENDENT EXAMINER'S REMUNERATION**|**Support**
**Direct**
**costs (see**
**Costs**
**note 3)**
**£**
**£**
161,240
22,824
**Governance**
**Other**
**costs**
**£**
**£**
6,024
3,390||**Totals**
**£**
184,064
**Totals**
**£**
22,824|| |Fees payable for the independent examination of the charity's financial statement||||£
1,500| ## **3.** ## **4. INDEPENDENT EXAMINER'S REMUNERATION** Fees payable for the independent examination of the charity's financial statement ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **6. STAFF COSTS** The average monthly number of employees during the year were 5. Total wages and salaries costs for the period was £23,357 (2022: £15,491). continued... Page 7 ## **KINYAN HATORAH UK** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** |**7.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE**|**YEAR**|||| |---|---|---|---|---|---| |||||**2023**|**2022**| |||||**£**|**£**| ||Trade creditors|||939|39| ||Other creditors|||5,714|1,896| |||||6,653|1,935| |**8.**|**MOVEMENT IN FUNDS**||||| ||**Unrestricted funds**|**At 1.4.22**
**£**||**Net**
**movement**
**in funds**
**£**|**At**
**31.3.23**
**£**| ||General fund||15,606|3,659|19,265| ||**TOTAL FUNDS**||15,606|3,659|19,265| ||Net movement in funds, included in the above are as follows:||||| ||**Unrestricted funds**|**Incoming**
**resources**
**£**||**Resources**
**expended**
**£**|**Movement**
**in funds**
**£**| ||General fund||187,723|(184,064)|3,659| ||**TOTAL FUNDS**||187,723|(184,064)|3,659| ||**Comparatives for movement in funds**||||| ||**Unrestricted funds**|**At 1.4.21**
**£**||**Net**
**movement**
**in funds**
**£**|**At**
**31.3.22**
**£**| ||General fund||9,501|6,105|15,606| ||**TOTAL FUNDS**||9,501|6,105|15,606| continued... Page 8 ## **KINYAN HATORAH UK** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **8. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
146,320
146,320|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(140,215)
6,105
(140,215)
6,105| |---|---|---| ## **9. RELATED PARTY DISCLOSURES** No related party transactions were undertaken for the year ended 31 March 2023 that are required to be disclosed under the Charities SORP (FRS102). Page 9