REGISTERED CHARITY NUMBER: 1191225
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
FOR
KOLLEL SHAS YIDEN C.I.O.
Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
KOLLEL SHAS YIDEN C.I.O.
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 September 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 9 |
KOLLEL SHAS YIDEN C.I.O. (REGISTERED NUMBER: CE022989)
REPORT OF THE TRUSTEES for the year ended 30 September 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. 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 objects of the charity are the advancement of the Orthodox Jewish faith in such ways as the charity trustees shall think fit and in particular but without limitation by establishing managing and supporting centres for advanced Talmudical studies to be known as Kollel Shas Yiden.
The charity receives income from voluntary donations which it utilises to provide bursaries to Talmudical students or to make grants to institutions or organisations which advance the Orthodox Jewish faith.
Public benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and 'The Advancement of Religion for the Public Benefit' in particular, when reviewing the aim and objectives and in planning the charity's future activities.The aims of the charitable company for the public benefit are detailed in the 'Objectives and Activities' section of this report and the main activities undertaken in order to carry out the charitable company's aims for the public benefit are outlined under 'Achievements and Performance' below.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity managed and operated the Kollel which is open to all mature students who wish to study and become proficient in the entire Shas (Talmud) with its principal commentaries over the course of a year at the advanced level that we aspire to achieve. Study sessions, both formal lectures and informal peer group study and tutorials run from early mornings until late evenings. Regular tests are administered as part of the programme.
FINANCIAL REVIEW
Financial position
The charity has had a successful period, raising £247,089 (2023 - £231,201) in donations, and making grants totalling £266,937 (2023 - £205,752) in accordance with the objectives of the charity.
Reserves policy
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary donations. However, as the trustees only distribute funds which have been raised and have not made funding commitments, they consider that the ideal level of reserves as at 30 September 2024 would be approximately twelve months of support costs.
Unrestricted reserves at 30 September 2024 were £650 (2023 - £22,634) which is slightly below the target figure. The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide financial stability and flexibility, and to enable the charity to expand its activities.
Going concern
The trustees are confident that the charity will be able to continue operating in the foreseeable future.
FUTURE PLANS
The charity plans to continue to manage and operate the Kollel and hopes to expand the number of full time mature students.
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KOLLEL SHAS YIDEN C.I.O. (REGISTERED NUMBER: CE022989)
REPORT OF THE TRUSTEES
for the year ended 30 September 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity is a Charitable Incorporated Organisation (CIO) governed by a constitution agreed by the trustees and registered with the Charity Commission on 9 September 2020.
Recruitment and appointment of new trustees
New trustees are appointed due to their interest in the work of the charity and their recognised experience in specific fields which will further support the work of Kollel Shas Yidden.
Induction and training of new trustees
New trustees are appointed due to their interest in the work of the charity and their recognised experience in specific fields which will further support the work of Kollel Shas Yidden. New trustees are given a full induction by the director. Trustees can retire when they wish as they do not serve under a fixed term of tenure.
Organisational structure
The board of trustees administers the charity. The board meets quarterly.
Wider network
At present Kollel Shas Yidden does not consider itself part of a wider network.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE022989 (England and Wales)
Registered Charity number
1191225
Registered office
30 Holmfield Avenue London NW4 2LN
Trustees
Mr E Meyer Mr I Moskovitz
Independent Examiner
Yedidya Zaiden FCCA Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
Approved by order of the board of trustees on 3 July 2025 and signed on its behalf by:
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KOLLEL SHAS YIDEN C.I.O. (REGISTERED NUMBER: CE022989)
REPORT OF THE TRUSTEES for the year ended 30 September 2024
Mr I Moskovitz - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KOLLEL SHAS YIDEN C.I.O.
Independent examiner's report to the trustees of Kollel Shas Yiden C.I.O. ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Yedidya Zaiden FCCA
Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
3 July 2025
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KOLLEL SHAS YIDEN C.I.O.
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 247,089 EXPENDITURE ON Charitable activities 3 Education and religious activities 269,073 NET INCOME/(EXPENDITURE) (21,984) RECONCILIATION OF FUNDS Total funds brought forward 22,634 TOTAL FUNDS CARRIED FORWARD 650 CONTINUING OPERATIONS |
2023 Total funds £ 231,201 207,770 23,431 (797) 22,634 |
|---|---|
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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KOLLEL SHAS YIDEN C.I.O. (REGISTERED NUMBER: CE022989)
BALANCE SHEET
30 September 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 2,750 CREDITORS Amounts falling due within one year 7 (2,100) NET CURRENT ASSETS 650 TOTAL ASSETS LESS CURRENT LIABILITIES 650 NET ASSETS 650 FUNDS 8 Unrestricted funds 650 TOTAL FUNDS 650 |
2023 Total funds £ 24,644 (2,010) 22,634 22,634 22,634 22,634 22,634 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 3 July 2025 and were signed on its behalf by:
Mr I Moskovitz - Trustee
The notes form part of these financial statements
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KOLLEL SHAS YIDEN C.I.O.
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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.
Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants payable are charged to the statement of financial activities once a commitment has been made to pay the grant and this has been communicated to the beneficiary or the grant has been paid, whichever is earlier.
Taxation
The charity is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
continued...
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KOLLEL SHAS YIDEN C.I.O.
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2024
2. DONATIONS AND LEGACIES
| Donations CHARITABLE ACTIVITIES COSTS Direct Costs £ Education and religious activities 266,937 The direct costs comprise grants and bursaries to students of the Kollel. |
2024 £ 247,089 Support costs (see note 4) £ 2,136 |
2023 £ 231,201 |
|---|---|---|
| Totals £ 269,073 |
||
3. CHARITABLE ACTIVITIES COSTS
4. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Education and religious activities | 36 | 2,100 | 2,136 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.
6. INDEPENDENT EXAMINERS FEES
The independent examiners fees for the period were £2,100 (2023: £2,010)
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
2024 2023 £ £ 2,100 2,010 Net At movement At 1.10.23 in funds 30.9.24 £ £ £ 22,634 (21,984) 650 22,634 (21,984) 650 |
2024 2023 £ £ 2,100 2,010 Net At movement At 1.10.23 in funds 30.9.24 £ £ £ 22,634 (21,984) 650 22,634 (21,984) 650 |
2023 £ 2,010 |
|---|---|---|---|
| 650 |
8. MOVEMENT IN FUNDS
continued...
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KOLLEL SHAS YIDEN C.I.O.
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2024
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 247,089 247,089 |
Resources Movement expended in funds £ £ (269,073) (21,984) (269,073) (21,984) |
|---|---|---|
Comparatives for movement in funds
| At 1.10.22 £ Unrestricted funds General fund (797) TOTAL FUNDS (797) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 231,201 TOTAL FUNDS 231,201 |
Net movement At in funds 30.9.23 £ £ 23,431 22,634 23,431 22,634 Resources Movement expended in funds £ £ (207,770) 23,431 (207,770) 23,431 |
|---|---|
9. RELATED PARTY DISCLOSURES
During the year the charity received donations aggregating £126,000 (2023: £74,000) from companies of which one of the trustees of this charity is a director and £10,000 (2023: 116,500) from a charity of which one of the trustees of this charity is a trustee.
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