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2022-11-30-accounts

KOLEL TORAH VYIREH LTD

Formerly 'Kolel L.Z. Ltd' (Limited by guarantee)

Financial Statements

For the Year ended 30 November 2022

Company Number 11702974 (England and Wales) Charity number 1185354

Whiteside and Davies Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE

Page 2

COMPANY LIMITED BY GUARANTEE

KOLEL TORAH VYIREH LTD

COMPANY NUMBER 11702974 CHARITY NUMBER 1185354 FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Contents

Charity Information
Report of the Directors/Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes forming part of the financial statements
 Page
3
4 - 5
6
7
8
9 - 11

KOLEL TORAH VYIREH LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 11702974 CHARITY NUMBER 1185354 FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Page 3

Charity Information

Board of Trustees

Eli Glausiusz Yitzchok Cohen Joel Grunhut

Directors

Eli Glausiusz Yitzchok Cohen Joel Grunhut

Organisation type

Charitable company

Registered office

158 Cromwell Road Salford M6 6DE

Charity Number

1185354

Company Registration Number

11702974 (England and Wales)

Accountants and Independent examiner

David Pollak Whiteside and Davies Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE

Administration address

22f Devonshire Street Salford M7 4RF

Bankers

Lloyds bank Andover BX1 1LT

KOLEL TORAH VYIREH LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 11702974 CHARITY NUMBER 1185354 FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Page 4

Report of the Directors/Trustees

The Directors/Trustees take pleasure in presenting their Report and Financial Statements of the Company/Charity for the year ended 30 November 2022.

The financial statements have been prepared in accordance with the accounting policies set out in the accounts and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102)" .

Trustees and Governors

The trustees in office throughout the year were Arnold Leon Cohen, Joel Grunhut and Pinchos Cohen. In April 2021 Yitzchok Cohen was asked to accept the appointment of trustee and director due to his understanding of the responsibilities and the running of a charity. He kindly accepted the appointment of which the trustees are very grateful for.

All trustees are also directors for the purposes of company law.

All trustees give of their time freely and no trustee remuneration was paid in the year.

Reference and Administration

Reference and Administration details are shown in the schedule of members of the board and professional advisers on page 3 of the financial statements.

Structure, governance and management

KOLEL TORAH VYIREH LTD is a charity constituted as a company limited by guarantee and as such, is governed by its memorandum and articles of association.

The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors'/ trustees' meetings.

Charitable Objects

The charity/company is established for the purpose of 'The advancement of education by maintaining the establishment of an academy for the learning of higher rabbinical studies and Jewish learning in accordance with Jewish orthodox law and tradition' and 'relief of poverty'.

Achievements

During the year, the charity received all of its income from voluntary donations.

During the year, the charity received donations totalling £67,926 (2020: £168,515) of which £64,110 (2020: £134,225) where used for the direct purpose of the charity as detailed in the ensuing pages, in accordance to the charity objects. Sadly the funds raised were far less than in the first year. The trustees believe that the first year income was exceptional and expect future year's income to be similar to this year.

In setting objectives and reviewing the Charity's aims and plans, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit.

KOLEL TORAH VYIREH LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 11702974 CHARITY NUMBER 1185354

Page 5

FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Report of the Directors/Trustees (continued)

Risk Management

The Trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the investments and finance of the Charity. The Trustees are satisfied that these systems and procedures mitigate any perceived risks.

Going Concern

The accounts have been prepared on a going concern basis as the directors have been assured of the continuing support from the company/charity's creditors.

Reserves Policy

The trustees retain reserves of at least £1,000, in order to enable the charity to meet future needs which they feel to be appropriate.

Responsibilities of the Directors/Trustees

Company Law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year.

Financial statements

In preparing those financial statements, the Directors/Trustees should follow best practice and

The Directors/Trustees are responsible for maintaining proper accounting records which

disclose with reasonable accuracy at any time the financial position of the charity and to enable

them as Directors/Trustees to ensure that the financial statements comply with the Company Law.

The Directors/Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.

Approved by The Directors/Trustees on 8 November 2023

Yitzchok Cohen - Director and Trustee

Page 6

KOLEL TORAH VYIREH LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 11702974 CHARITY NUMBER 1185354 FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Independent Examiner's Report to the Trustees

I report on the financial statements of KOLEL TORAH VYIREH LTD for the year ended 30 November 2022.

Respective Responsibilities of Governors and Examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

to state whether particular matters have come to my attention.

Basis of Independent Examiner's Report

My examination was carried out in accordance with general Directions given by the Charity Commission. 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 includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

In connection with my examination, no matter has come to my attention;

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

David Pollak Whiteside and Davies 158 Cromwell Road Salford M6 6DE

Date: 8 November 2023

Page 7

COMPANY LIMITED BY GUARANTEE

KOLEL TORAH VYIREH LTD

COMPANY NUMBER 11702974 CHARITY NUMBER 1185354

FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Statement of Financial Activities

Incoming Resources
Expenditure
Charitable Activities
Gross Income
Overheads
Support costs
Governance costs
Net income (expenditure) for the year
Fund balances at 1st December 2020
Fund balances at 30 November 2021		 Notes
10
11
12
13		 2022
2022
£
£
90,135
(46,181)
43,954
(32,279)
(1,084)
(33,363)
10,591
130
10,721		 2021
2021
£
£
70,067
(64,110)
5,957
(31,092)
(1,750)
(32,842)
(26,885)
27,015
130		 2021 2021
£
70,067
(64,110)
(26,885)
27,015
130

Page 8

COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 11702974

KOLEL TORAH VYIREH LTD

CHARITY NUMBER 1185354

FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Balance Sheet At 30 November 2022

BalaAbbreviated Balance Sheet
Tangible fixed assets
Current Assets
Cash at Bank
Creditors
Amounts falling due within one year
Net current assets (liabilities)
Total Assets less Current liabilities
Creditors
Amounts falling due after one year
Net Assets
Accumulated Funds
Unrestricted funds		 Notes
6
7
8
9		 2022
£
55,483
2,400
(6,084)
(3,684)
51,799
(41,078)
10,721
10,721		 2021
£
49,694
5,548
(8,947)
(3,399)
46,295
(46,165)
130
130
130
130

In approving these financial statements as directors of the company we hereby confirm:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the board and signed on behalf of them all.

Date: 8 November 2023

Yitzchok Cohen - Director and Trustee

The notes on the following pages form part of the accounts

KOLEL TORAH VYIREH LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 11702974 CHARITY NUMBER 1185354 FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Page 9

Notes to the Accounts

1. Principal Accounting Policies

Basis of Accounting

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 ROI (FRS 102)" .

The Charity is a Public Benefit Entity as defined by FRS 102.

Cash Flow

The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.

Donations and Fund Accounting

Donations and Grants received for the general and main purposes of the Charity are included as unrestricted funds in the Statement of Financial Activities when receivable.

Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its

d f l lif f ll Leasehold land and buildings over the lease term Fixtures, fittings and equipment 20% reducing balance

Resources Expended

Resources expended are accounted for on an accruals basis.

Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

The irrecoverable element of VAT is included with the item of expense to which it relates.

2. Taxation

The Charitable Company is exempt from taxation on its charitable activities.

3. Incoming Resources

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

4. Company limited by Guarantee

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

5. Control

The company is incorporated for charitable purposes and has no controlling party.

Page 10

KOLEL TORAH VYIREH LTD COMPANY LIMITED BY GUARANTEE COMPANY NUMBER 11702974 CHARITY NUMBER 1185354

FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Notes to the Accounts (continued)

6. Tangible fixed assets

Cost
At 1 December 2021
Additions
At 30 November 2022
Depreciation
At 1 December 2021
Charge for the year
At 30 November 2022
Net book value
At 30 November 2022
At 30 November 2021
7.
CreditorsAmounts due within one year
Accrued expenses
Trustee's Loan
Wages control account
8.
CreditorsAmounts due after one year
Bank loan
9.
Unrestricted funds
Net Surplus (deficit) for the year
At 01 December 2021
At 30 November 2022		 Investment
property
Equipment,
furniture,
fixtures and
fittings
Total
£
£
£
49,694
-
49,694
-
7,236
7,236
49,694
7,236
56,930
-
-
-
-
1,447
1,447
-
1,447
1,447
49,694
5,789
55,483
49,694
-
49,694
2022
2021
£
£
1,000
1,275
5,084
4,375
0
3,297
6,084
8,947
41,078
46,165
Total
Total
Charitable funds Charitable funds
£
£
130
27,015
10,591
(26,885)
10,721
130		 Total
£
49,694
7,236
56,930
-
1,447
1,447
55,483
49,694
2021
£
1,275
4,375
3,297
8,947
46,165
130

Page 11

KOLEL TORAH VYIREH LTD

COMPANY LIMITED BY GUARANTEE

COMPANY NUMBER 11702974 CHARITY NUMBER 1185354

FINANCIAL STATEMENTS FOR YEAR ENDED 30 NOVEMBER 2022

Notes to the Accounts (continued)

2022
2022
£
£
10. Incoming Resources
Rental income
3,576
HMRC JRS Grants
0
Donations Received
86,559
90,135
11. Resources Expended
Charitable Activities
Cost of Activities In Furtherance
of the Charity's Objects
Distributions for scholarship and studies
(46,181)
12. Support costs
Bank and card processing charges
(777)
Interest paid
(1,423)
Depreciation
(1,447)
Fundraising costs
(8,613)
Office Expenses
(350)
Wages
(19,669)
(32,279)
13. Governance Costs
Accountancy/ Independent Examiner fees
(1,000)
Other legal and Professional fees
(84)
(1,084)
Total Funds Expended
(79,544)
Accumulated Funds
Net Surplus (deficit) for the year
10,591
Balance brought forward
130
Balance carried forward
10,721		 2021
2021
£
£
723
1,418
67,926
70,067
(64,110)
(36)
(625)
(1,017)
(730)
(28,684)
(31,092)
(1,000)
-750
(1,750)
(96,952)
(26,885)
27,015
130		 2021 2021
£
723
1,418
67,926
(96,952)
(26,885)
27,015
130