ABS TRAINING LTD
Annual Report and Financial Statements
For year ended 28 February 2022
Charity Number
1155462
Company Number 11203319
Accounts and Business Solutions 158 Cromwell Road Salford M6 6DE
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ABS TRAINING LTD
Charity Number 1155462 Company Number 11203319 Financial Statements For Year Ended 28 February 2022
Contents
| Charity Information Report of the Directors / Trustees Independent Examiner's Report to the Trustees Statement of Financial Activities Balance Sheet Notes forming part of the financial statements Detailed profit and loss account and statement of activities |
Page |
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| 3 4-5 6 7 8 9-10 11 |
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ABS TRAINING LTD
Charity Number 1155462 Company Number 11203319 Financial Statements For Year Ended 28 February 2022
Charity Information
Board of Directors and Trustees
Osher Jung Isaac Goldberg Avrom Worch
Administration Address
10 Leicester Avenue Salford M7 4HA
Charity Number
1189584
Company Number
11203319
Accountants
Accounts and Business Solutions 158 Cromwell Road Salford M6 6DE
Bankers
National Westminster Bank Plc (NatWest) Chorlton-cum-Hardy Branch 438 Barlow Moor Road Chorlton-cum-Hardy Manchester M21 0NW
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ABS TRAINING LTD Charity Number 1155462 Company Number 11203319 Financial Statements For Year Ended 28 February 2022
Report of the Directors / Trustees
Structure, governance and management
ABS Training Ltd is a company limited by guarantee incorporated on 13th February 2018 and is governed by its amended memorandum and articles of association, dated at 5th February 2019, registered by the Charity Commission on 20th May 2020.
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.
Directors / Trustees
The Directors / Trustees in office throughout the year were:
Mr Osher Jung
Mr Isaac Goldberg Mr Avrom Worch
The above are still in post at the date of the approval of the accounts. All trustees serve at their post for this charity voluntarily. There are no trustees employed by, or have any beneficial interest in the charity.
Details of any related party transactions are disclosed as applicable in the notes to the accounts. The trustees have been advised of any defects or omissions and have ensured that they are corrected.
No trustee nor any person connected with them received any remuneration during the year.
Charitable Objects
The object of the charity is:
The advancement of education by maintaining the establishment of an academy for the schooling of secular and religious studies.
Public benefit
The Directors / 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.
Reserves Policy
The Directors / Trustees retain reserves as necessary and where appropriate, consolidate funds in order to enable the charity to meet future needs or to make more substantial grants which they feel to be appropriate.
Financials
This year's total incoming resources were £95,455 (2021: £243,421), the trustees are satisfied with the financial results for the year, with a net surplus for the year of £53,160 (2021: £209,395). Funds are available to permit the charity to continue in operation in the medium to long term and to continue to fund worthwhile projects.
The Directors / Trustees have continued working hard to keep costs and overheads to a minimum without compromising on our high standard of service and professionalism.
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ABS TRAINING LTD Charity Number 1155462 Company Number 11203319 Financial Statements For Year Ended 28 February 2022
Report of the Directors / Trustees (continued)
Responsibilities of the Trustees
Company Law requires the Directors / Trustees 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.
In preparing those financial statements, the Directors / Trustees should follow best practice and
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a. Select suitable accounting policies and apply them consistently.
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b. Make judgments and estimates that are reasonable and prudent.
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c. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements.
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d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
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 Trustees on 29th December 2022
Osher Jung - Director / Trustee
ABS TRAINING LTD Charity Number 1155462 Company Number 11203319 Financial Statements For Year Ended 28 February 2022
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Independent Examiner's Report to the Trustees
I report on the financial statements of ABS Training Ltd for the year ended 28 February 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:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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;
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Accounts and Business Solutions 158 Cromwell Road Salford M6 6DE
Date: 29th December 2022
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ABS TRAINING LTD
Charity Number 1155462 Company Number 11203319 Financial Statements For Year Ended 28 February 2022
Statement of Financial Activities
| Incoming Resources Donations Received Rental Income Covid 19 Grant Net incoming resources available for charitable application Less: Charitable expenditure Cost of ActivitiesIn Furtherance of the Charity's Objects Governance costs Accumulated Funds Net Surplus for the year Balance brought forward Balance carried forward |
Notes 3) |
Unrestricted funds £ 46,455 49,000 0 95,455 95,455 10,428 31,867 53,160 216,765 269,925 |
2022 Total £ 46,455 49,000 0 95,455 95,455 10,428 31,867 53,160 216,765 269,925 |
2021 Total £ 182,962 50,459 10,000 243,421 243,421 23,027 10,999 209,395 7,370 216,765 |
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The notes on page 9 form part of these accounts.
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ABS TRAINING LTD
Charity Number 1155462 Company Number 11203319 Financial Statements
For Year Ended 28 February 2022
Balance Sheet At 28 February 2022
| Notes Fixed Assets 4) Land and Building Building improvements Flooring Furniture Plant and machinery Current Assets 5) Related Party Transactions Other Debtors Cash at Bank Current Liabilities 6) Accruals Related party transactions Other creditors Long-term Liabilities 7) Bank loans > 1 year Creditors > 1 year Net Assets Accumulated Funds Restricted Unrestricted |
2022 £ 692,209 48,698 5,684 888 2,750 33,005 86,985 311,536 (480) 0 (180) (405,456) (505,714) |
2022 £ 750,229 431,526 (660) (911,170) 269,925 0 269,925 269,925 |
2021 £ 692,209 26,753 5,000 0 0 0 0 17,224 (420) (18,287) 0 (505,714) |
2021 £ 723,962 17,224 (18,707) (505,714) 216,765 0 216,765 216,765 |
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Approved by the Trustees on 29th December 2022 and signed on behalf of them all.
Osher Jung - Director / Trustee
Date: 29th December 2022
The notes on page 9 form part of these accounts.
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ABS TRAINING LTD Charity Number 1155462 Company Number 11203319 Financial Statements
For Year Ended 28 February 2022
Notes To The Accounts
1) Principal Accounting Policies
Basis of Accounting
The Accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities (Effective April 2008), and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice (Issued March 2005).
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
Rental Income received for the general and main purposes of the Charity is 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 Directors / Trustees.
Resources Expended
Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year. These estimates are based on the time and level of activity as appropriate.
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.
Support costs
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
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) | Fixed Assets Cost 01/03/2021 Additions 28/02/2022 Depreciation 01/03/2021 Charge 28/02/2022 NBV 28/02/2021 28/02/2022 |
Land and building 718,962 21,945 740,907 0 0 0 718,962 740,907 |
Fixture & Fittings 5,000 1,572 6,572 0 0 0 5,000 6,572 |
Plant & Machinery 0 2,750 2,750 0 0 0 0 2,750 |
Total £ 723,962 26,267 750,229 0 0 0 723,962 750,229 |
Total | |||
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ABS TRAINING LTD
Charity Number 1155462 Company Number 11203319 Financial Statements For Year Ended 28 February 2022
Notes To The Accounts (continued)
| 5) Debtors Related party transactions Other Debtors 6) Current Liabilities Accruals Related party transactions Other creditors 7) Long-term Liabilities Bank loans > 1 year Creditors > 1 year |
2022 £ 33,005 86,985 119,990 2022 £ 480 0 180 660 2022 £ 405,456 505,714 911,170 |
2021 £ 0 0 0 2021 £ 420 18,287 0 18,707 2021 £ 0 505,714 505,714 |
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ABS TRAINING LTD
Charity Number 1155462 Company Number 11203319 Financial Statements
For Year Ended 28 February 2022
Detailed profit and loss account and statement of financial activities
| Incoming Resources Donations Received Rental Income Covid 19 Grant Net incoming resources available for charitable application Less: Charitable expenditure Cost of ActivitiesIn Furtherance of the Charity's Objects Direct educational costs Training and equipment Venue hire Support costs Subsistence Governance costs Advertising Independent Examiner's fees Bank charges Insurance Interest Expense Other legal and professional Repairs and maintenance Service charges Consultancy fees Accumulated Funds Net Surplus for the year Balance brought forward Balance carried forward |
Notes 2 |
Unrestricted funds £ 46,455 49,000 0 95,455 95,455 1,964 7,194 1,270 0 0 10,428 0 480 53 1,776 8,619 16,819 4,120 0 0 31,867 53,160 216,764 269,924 |
2022 Total £ 46,455 49,000 0 95,455 95,455 1,964 7,194 1,270 0 0 10,428 0 480 53 1,776 8,619 16,819 4,120 0 0 31,867 53,160 216,764 269,924 |
2021 Total £ 182,962 50,459 10,000 243,421 243,421 1,346 1,589 0 20,000 92 23,027 1,425 420 32 0 0 2,458 5,914 0 750 10,999 209,395 7,369 216,764 |
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