## **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
Page 2
## **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**|
|---|---|
||3
4-5
6
7
8
9-10
11|
Page 3
## **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
Page 4
**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.
Page 5
**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
- a. Select suitable accounting policies and apply them consistently.
- b. Make judgments and estimates that are reasonable and prudent.
- c. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements.
- 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
Page 6
## **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:
- examine the accounts under section 145 of the Charities Act,
- 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;
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
- have not been met; or
2. 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
Page 7
## **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 Activities**In 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|
|---|---|---|---|---|
The notes on page 9 form part of these accounts.
Page 8
## **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|
|---|---|---|---|---|
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.
Page 9
## **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**|
|---|---|---|---|---|---|---|---|---|---|
|||||||||||
Page 10
## **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|
|---|---|---|
Page 11
## **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 Activities**In 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|
|---|---|---|---|---|