THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
CHARITY NUMBER 265502
B OLSBERG & CO CHARTERED ACCOUNTANTS ENTERPRISE HOUSE 3 MIDDLETON ROAD MANCHESTER M8 5DT
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Contents
Trustees Report 3 Independent Examiners Report 6 Statement of Financial Activities 7 Balance Sheet 8 Notes to the Accounts 9
2
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees have pleasure in presenting their report and the financial statements of the charitable trust for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005 in preparing the financial statements of the Charity
REFERENCE AND ADMINISTRATIVE DETAIL
Trustees Rabbi S. Geller D Lobenstein Chief Executive Officer D. Lobenstein Correspondent Mrs S. Masher Charity Address 6 Bispham Grove Salford M7 4DL Charity Number 265502 Independent Examiner B Olsberg Enterprise House, 3 Middleton Road Manchester M8 5DT
OBJECTIVES AND ACTIVITIES OF THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
The Friends of the Centre for Torah Education Trust is constituted by trust deed dated 15 February 1973 and its objects are:
To assist any organization in Israel whose sole purpose is to promote orthodox Jewish religious education. The Charity raises funds in the UK to be used primarily but not exclusively to support the organization in Israel.
3
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
LEGAL STATUS
The charitable trust is constituted by trust deed dated 15 February 1973 which has not been amended.
TRUSTEES
The board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
TRUSTEES INDUCTION AND TRAINING
Most trustees are already familiar with the practical work of the charity having received guidance from the existing trustees prior to appointment. New trustees are further encouraged to attend training sessions organised by the charity.
PRINCIPAL ACTIVITY AND REVIEW OF THE YEAR
The principal activity of the Charity in the year under review was raising funds from donations for the purposes of its objects.
ORGANISATION
The charity is managed by the trustees of the charity.
INVESTMENT POWERS AND RESTRICTIONS
The trustees are authorised to make and hold investments using the general fund of the charity but no investments are currently held.
REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS
The financial statements for the year show a net surplus of £1,386 (2020 – Deficit £1,005). The trustees consider the financial position of the charity to be satisfactory.
The financial statements conform to current statutory requirements and comply with the Charity's governing documents.
RESERVES POLICY
The charity reduced its reserves by making distributions to its fullest extent.
4
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
PUBLIC BENEFIT
The trustees confirm that they have referred to guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance when reviewing the charity’s aims and objectives and in planning future activities.
REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS
The Friends of the Centre for Torah Education Trust continued the raising of funds for the purposes of later distributions in accordance with its objects. During the year under review the trustees received donations of £38,791 and paid over £37,000 to support the organisation in Israel.
RESPONSIBILITIES OF THE TRUSTEES
The Charities Act 2011 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 at the end of the year and of the net incoming or outgoing resources for the year then ended.
In preparing those financial statements, the trustees are required to select suitable accounting policies, as described on page 9, and then apply them on a consistent basis, making judgements and estimates that are reasonable and prudent. The trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will be able to continue.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the detection of fraud and other irregularities.
SIGNED ON BEHALF OF THE TRUSTEES:
……………………………………………… Rabbi S Geller – Trustee Dated: 24 January 2022
5
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I report to the trustees of The Friends of The Centre For Torah Education Trust on the accounts for year ended 31 March 2021 set out on pages 7-10.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES 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(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act;
-
To follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 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 the general Directions given by the Charity. 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 seek explanations from you as 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.
INDEPENDENT EXAMINER'S STATEMENT
In the course of my examination, no matter has come to my attention.
-
which gives me reasonable cause to believe that in any material respect the requirement:
-
to keep accounting records in accordance with Section 130 of the 2011 Act and
-
to prepare accounts which accord with the accounting records and comply with the requirements of the 2011 Act.
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
B Olsberg FCA Enterprise House 3 Middleton Road Manchester M8 5DT
24 January 2022
6
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Note Income and Expenditure Incoming Resources Donations Received1 Less Resources Expended Direct charitable expenditure Donations made2 Management & Administration Travel Sundry Bank Interest and Charges Accountancy Net Movement of Funds For the Year Income/ (deficit) Funds brought forward Funds Carried Forward |
2021 UNRESTRICTED FUNDS £ £ £ 38,791 37,000 39,385 - 3,385 - - 105 90 300 420 405 37,405 3,895 1,386 1,873 3,259 |
2020 £ 42,275 43,280 (1,005) 2,878 1,873 |
|---|---|---|
7
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
BALANCE SHEET AS AT 31 MARCH 2021
| Note Fixed Assets Equipment 4 Debtors Bank Current Accounts CREDITORS: Due within 1 year5 Net Current Assets Unrestricted Funds Signed on behalf of the board of trustees ____ Trustee S Geller Date 24 January 2022 The notes form part of these accounts. |
£ 2,550 1,277 3,827 1,152 |
2021 £ 584 2,675 3,259 3,259 |
£ 2,550 11 2,561 1,272 |
2020 £ 584 1,289 1,873 2,878 |
||
|---|---|---|---|---|---|---|
8
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 . ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and comply with the Statement of Recommended Practice 2005 'Accounting and Reporting by Charities'.
Incoming Resources
Voluntary income is received by way of donations and gifts and is included gross in the Statement of Financial Activities.
Unrestricted Fund
Unrestricted funds are donations and other income received or generated for the charitable purposes.
Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Management and administration
Management and administration costs of the charity relate to the central costs of management including the costs of meetings, audit and statutory compliance.
2. DIRECT CHARITABLE EXPENDITURE
Merkaz Lechinuch Torani £37,000
3. STAFF COSTS
No staff were employed during the year
The trust did not use any unpaid volunteers. No trustee received or waived any remuneration during the year, nor was any trustee reimbursed for any out of pocket expenses incurred.
9
THE FRIENDS OF THE CENTRE FOR TORAH EDUCATION TRUST
| 4. FIXED ASSETS Equipment cost brought forward Addition in year 5. CREDITORS Accruals 6. CONTROLLING PARTY |
£ 584 - 584 2021 £ 1,152 |
2020 £ 1,272 |
|---|---|---|
The trust is controlled by the trustees.
10