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2024-03-31-accounts

Charity registration number 242075 (England and Wales)

THE FRIENDS OF THE BOBOVER YESHIVA ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

THE FRIENDS OF THE BOBOVER YESHIVA

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees S Blau
L Rottenberg
Rabbi B Blum
Charity number 242075
Principal and Registered Office 87 Egerton Road
London
N16 6UE
Auditor Glazers
843 Finchley Road
London
NW11 8NA

THE FRIENDS OF THE BOBOVER YESHIVA

CONTENTS

Page
Trustees report 1 - 2
Statement of trustees responsibilities 3
Independent auditor's report 4 - 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 18

THE FRIENDS OF THE BOBOVER YESHIVA

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The Friends of the Bobover Yeshiva is constituted by Trust Deed, dated 31 March 1965, and its objects are the advancement of the Jewish religion in accordance with Orthodox Jewish tenets and provision of facilities for study of Jewish faith and the relief of poverty.

The Trustees run a school, college and library in Stamford Hill, London. many of those attending are underprivileged and as such whilst fees are charged, those in financial hardship and unable to pay are provided with full or partial scholarships dependent on the circumstances. No child is refused education due to financial hardship.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

There are currently approximately 230 children between the ages of 2 and 13 in attendance, many of whom are socially and economically underprivileged. Where possible, assistance is provided to those families studying at Higher Rabbinical Colleges under the auspices of the Grand Rabbi of Bobov

Grant making policy

Grants, as a secondary focus of the charity, are made at the discretion of the trustees and in accordance with the principal objectives of the charity.

Achievements and performance

Significant activities and achievements against objectives

The charity's primary income is from donations and grants. Contribution's towards the charity's running costs were received from parents of the Egerton Community Nursery Limited, an organisation under the auspices of the Grand Rabbi of Bobov, which shares premises with the Friends of the Bobover Yeshiva and from whom they receive meals and other services.

During the year, the charity received donations and other income totalling £1,665,779 (2023: £1,634,398), and incurred costs totalling £1,586,460 (2023: £1,657,152). This resulted in a net profit of £79,319 (2023: £22,754 deficit).

Financial review

Reserves policy

The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the immediate contingencies such as wages, utility bills etc. There are generous donors within the community who could be approached for donations should the charity be unable to meet its immediate contingencies. As of 31 March 2024 the charity has net reserves of £446,954 (2023: £367,635).

Investment policy

The Trust Deed which permits the charity's funds to be invested in securities or properties of any kind and situated anywhere in the world, controls the trustees' investment powers.

THE FRIENDS OF THE BOBOVER YESHIVA

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Major risks

The trustees have a duty to identify and review the risks to which charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Plans for future periods

The charity intends to carry on and expand upon its current activities for the foreseeable future

Structure, governance and management

The charity is controlled by its governing document, a trust deed and constitutes an unincorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were: S Blau

L Rottenberg

Rabbi B Blum

Recruitment and appointment of trustees

It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

The trustees report was approved by the Board of Trustees.

..............................

S Blau

Trustee

Date: .............................................

THE FRIENDS OF THE BOBOVER YESHIVA

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE FRIENDS OF THE BOBOVER YESHIVA

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE FRIENDS OF THE BOBOVER YESHIVA

Opinion

We have audited the financial statements of The Friends of the Bobover Yeshiva (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

THE FRIENDS OF THE BOBOVER YESHIVA

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE FRIENDS OF THE BOBOVER YESHIVA

Responsibilities of trustees

As explained more fully in the statement of trustees responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

THE FRIENDS OF THE BOBOVER YESHIVA

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE FRIENDS OF THE BOBOVER YESHIVA

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

1) Enquiries of management concerning the charity's policies and procedures relating to:

2) Discussions among the engagement team regarding how and when fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act and IFRS as issued by the IASB , 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 Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate or avoid a material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

THE FRIENDS OF THE BOBOVER YESHIVA

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE FRIENDS OF THE BOBOVER YESHIVA

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Philippe Herszaft ACA (Senior Statutory Auditor)

For and on behalf of Glazers, Statutory Auditor Chartered Accountants 843 Finchley Road London NW11 8NA Date: .........................

Glazers is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE FRIENDS OF THE BOBOVER YESHIVA

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and
legacies
3
618,742
387,452
Charitable
activities
4
659,585
-
Total income
1,278,327
387,452
Expenditure
on:
Raising funds
5
5,061
-
Charitable
activities
6
1,193,947
387,452
Total expenditure
1,199,008
387,452
Net income for the
year/
Net movement in
funds
79,319
-
Fund balances at 1 April
2023
367,635
-
Fund balances at 31
March 2024
446,954
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
1,006,194
781,599
258,746
659,585
594,053
-
1,665,779
1,375,652
258,746
5,061
11,436
-
1,581,399
1,386,970
258,746
1,586,460
1,398,406
258,746
79,319
(22,754)
-
367,635
390,389
-
446,954
367,635
-		 Total
2023
£
1,040,345
594,053
1,634,398
11,436
1,645,716
1,657,152
(22,754)
390,389
367,635

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE FRIENDS OF THE BOBOVER YESHIVA

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Fixed assets
Tangible assets
12
Current assets
Debtors
13
86,113
Cash at bank and in hand
144,345
230,458
Creditors: amounts falling due within
one year
14
(321,825)
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
15
Net assets
The funds of the charity
Unrestricted funds
16		 2023
£
£
£
584,321
585,900
100,577
73,467
174,044
(346,309)
(91,367)
(172,265)
492,954
413,635
(46,000)
(46,000)
446,954
367,635
446,954
367,635
446,954
367,635

The financial statements were approved by the trustees on .........................

..............................

S Blau Trustee

THE FRIENDS OF THE BOBOVER YESHIVA

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

2024
Notes
£
Cash flows from operating activities
Cash generated from operations
18
Net cash generated from investing activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
£
70,878
-
-
70,878
73,467
144,345		 £
29,405
-
-
29,405
44,062
73,467

THE FRIENDS OF THE BOBOVER YESHIVA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

The Friends of the Bobover Yeshiva is an unincorporated charity governed by a Trust Deed dated 31 March 1965. Its principal and registered office is at 87 Egerton Road, London N16 6UE.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE FRIENDS OF THE BOBOVER YESHIVA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Nil
Plant and equipment 10% reducing balance
Fixtures and fittings 25% reducing balance
Office equipment 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE FRIENDS OF THE BOBOVER YESHIVA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE FRIENDS OF THE BOBOVER YESHIVA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
618,742
-
Grant making trusts
-
387,452
618,742
387,452		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
618,742
781,599
-
387,452
-
258,746
1,006,194
781,599
258,746		 Total
2023
£
781,599
258,746
1,040,345

4 Charitable activities

Running of Running of
school school
2024 2023
£ £
Contributions to school running expenses 659,585 594,053

5 Raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Seeking donations, grants and legacies 5,061 11,436
5,061 11,436

THE FRIENDS OF THE BOBOVER YESHIVA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Charitable activities

Running of
school
2024
£
Staff costs
689,568
Depreciation and
impairment
1,578
School running costs
867,935
1,559,081
Grant funding of
activities (see note 7)
-
Share of governance
costs (see note 8)
12,354
1,571,435
Analysis by fund
Unrestricted funds
1,183,983
Restricted funds
387,452
1,571,435
Grants payable
Grants to institutions:
Grants to individuals		 Relief of
poverty
2024
£
-
-
-
-
9,964
-
9,964
9,964
-
9,964		 Total
2024
Running of
school
2023
£
£
689,568
698,270
1,578
1,989
867,935
938,962
1,559,081
1,639,221
9,964
-
12,354
3,354
1,581,399
1,642,575
1,193,947
1,383,829
387,452
258,746
1,581,399
1,642,575		 Relief of
poverty
2023
£
-
-
-
-
3,141
-
3,141
3,141
-
3,141
Relief of
poverty
2024
£
9,964
9,964		 Total
2023
£
698,270
1,989
938,962
1,639,221
3,141
3,354
1,645,716
1,386,970
258,746
1,645,716
Relief of
poverty
2023
£
3,141
3,141

7 Grants payable

THE FRIENDS OF THE BOBOVER YESHIVA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8 Support costs

Audit fees
Accountancy
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
-
3,000
-
9,000
-
354
-
12,354
-
12,354		 2024
£
3,000
9,000
354
12,354
12,354		 2023
£
3,000
-
354
3,354
3,354

Governance costs includes payments to the auditors of £3,000 (2023- £3,000) forr audit fees.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

Teachers, assistants and Community Support
Office and administration
Kitchen and maintenance
Total
Employment costs
Wages and salaries		 2024
Number
53
10
10
73
2024
£
689,568		 2023
Number
82
12
8
102
2023
£
698,270

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

THE FRIENDS OF THE BOBOVER YESHIVA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

12
Tangible fixed assets
Freehold land
and buildings
Plant and
equipment
Fixtures and
fittings
£
£
£
Cost
At 1 April 2023
576,469
15,091
82,372
At 31 March 2024
576,469
15,091
82,372
Depreciation and impairment
At 1 April 2023
-
9,894
78,201
Depreciation charged in the year
-
520
1,043
At 31 March 2024
-
10,414
79,244
Carrying amount
At 31 March 2024
576,469
4,677
3,128
At 31 March 2023
576,469
5,197
4,171
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
14
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
15
Creditors: amounts falling due after more than one year
Other creditors		 Office
equipment
£
3,571
3,571
3,508
16
3,524
47
63
2024
£
76,483
9,630
86,113
2024
£
2,213
216,356
78,696
24,560
321,825
2024
£
46,000		 Total
£
677,503
677,503
91,603
1,579
93,182
584,321
585,900
2023
£
100,577
-
100,577
2023
£
7,561
230,583
-
108,165
346,309
2023
£
46,000

THE FRIENDS OF THE BOBOVER YESHIVA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
367,635
1,278,327
(1,199,008)
446,954
At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
390,389
1,375,652
(1,398,406)
367,635

17 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

18 Cash generated from operations

Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
(Decrease)/increase in creditors
Cash generated from operations		 2024
£
79,319
1,578
14,465
(24,484)
70,878		 2023
£
(22,754)
1,989
4,311
45,859
29,405

19 Analysis of changes in net funds

The charity had no material debt during the year.