**Charity number: 281540**
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2023**
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Independent examiner's report**|4|
|**Statement of financial activities**|5|
|**Balance sheet**|6|
|**Notes to the financial statements**|7 - 10|
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023**
**Trustees** Chaskel Rand, Trustee Stephen Greenman, Trustee
**Charity registered number** 281540 **Principal office** 10 Palm Court Queen Elizabeth's Walk London N16 5XA **Accountants** Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB **Bankers** Lloyds Bank plc Hoe Street Walthamstow London E17 4RS
Page 1
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees present their annual report together with the financial statements of the The Friends of Ohr Elchonon Yeshiva Trust for the 1 April 2022 to 31 March 2023.
## **Objectives and activities**
## **Policies and objectives**
The objective of the Charity is the promotion of Jewish religious education.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **Review of activities**
The Charity raises funds on behalf of the Ohr Elchonon Yeshivah Talmudical College in Israel. During the year the Charity gave of grant of £28,000 to the Ohr Elchonon Yeshivah Talmudical College.
## **Financial review**
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.
## **Structure, governance and management**
## **Constitution**
The Friends of Ohr Elchonon Yeshiva Trust is a registered charity, number 281540, and is constituted under a Trust deed.
## **Financial risk management**
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 2
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **Statement of Trustees' responsibilities**
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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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.
Approved by order of the members of the board of Trustees on 18 January 2024 and signed on their behalf by:
**Chaskel Rand** Trustee
Page 3
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **Independent examiner's report to the Trustees of The Friends of Ohr Elchonon Yeshiva Trust ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Charity has prepared the accounts 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) 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Signed:
Dated: 18 January 2024
D Wolffe FCCA
34 Braydon Road London N16 6QB
Page 4
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**Note**
**Income from:**
Donations and legacies
3
**Total income**
**Expenditure on:**
Charitable activities
Other expenditure
4
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**31,570**
**31,570**
**28,000**
**178**
**28,178**
**3,392**
**20,460**
**3,392**
**23,852**|**Total**
**funds**
**2023**
**£**
**31,570**
**31,570**
**28,000**
**178**
**28,178**
**3,392**
**20,460**
**3,392**
**23,852**|_Total_
_funds_
_2022_
_£_
_21,060_
_21,060_
_37,000_
_221_
_37,221_
_(16,161)_
_36,621_
_(16,161)_
_20,460_|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 10 form part of these financial statements.
Page 5
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **BALANCE SHEET AS AT 31 MARCH 2023**
|**Note**
**Fixed assets**
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within one
year
6
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
Unrestricted funds
**Total funds**|**24,202**
**24,202**
**(350)**|**2023**
**£**
**-**
**23,852**
**23,852**
**23,852**
**23,852**
**-**
**23,852**
**23,852**|_20,660_
_20,660_
_(200)_|_2022_
_£_|
|---|---|---|---|---|
|||||_-_
_20,460_|
|||||_20,460_|
|||||_20,460_|
||||||
|||||_20,460_|
|||||_-_
_20,460_|
||||||
|||||_20,460_|
The financial statements were approved and authorised for issue by the Trustees on 18 January 2024 and signed on their behalf by:
## **Chaskel Rand**
## Trustee
The notes on pages 7 to 10 form part of these financial statements.
Page 6
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. General information**
The objective of the Charity is the promotion of Jewish religious education.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Friends of Ohr Elchonon Yeshiva Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.3 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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
## **2.4 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 7
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. Accounting policies (continued)**
## **2.5 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
## **2.6 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2023**
**£**
Donations
31,570
_Unrestricted_
_funds_
_2022_
_£_
Donations
_21,060_|**Total**
**funds**
**2023**
**£**
**31,570**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_21,060_|
## **4. Other expenditure**
|**Unrestricted**
**funds**
**2023**
**£**
Bank Charges
28
Accountancy Fees
150
178|**Total**
**funds**
**2023**
**£**
**28**
**150**|
|---|---|
||**178**|
Page 8
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **4. Other expenditure (continued)**
|Bank Charges
Accountancy Fees|_Unrestricted_
_funds_
_2022_
_£_
_21_
_200_
_221_|_Total_
_funds_
_2022_
_£_
_21_
_200_|
|---|---|---|
|||_221_|
## **5. Analysis of expenditure by activities**
|Grants to Ohr Elchonon Yeshiva
Grants to Ohr Elchonon Yeshiva|**Activities**
**undertaken**
**directly**
**2023**
**£**
28,000
_Activities_
_undertaken_
_directly_
_2022_
_£_
_37,000_|**Total**
**funds**
**2023**
**£**
**28,000**|
|---|---|---|
|||_Total_
_funds_
_2022_
_£_
_37,000_|
Page 9
## **THE FRIENDS OF OHR ELCHONON YESHIVA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **6. Creditors: Amounts falling due within one year**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**350**|_200_|
|**7.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current year**
**Unrestricted**
**funds**
**2023**
**£**
Current assets
24,202
Creditors due within one year
(350)
**Total**
23,852
**Analysis of net assets between funds - prior year**
_Unrestricted_
_funds_
_2022_
_£_
Current assets
_20,659_
Creditors due within one year
_(200)_
**Total**
_20,459_|**Total**
**funds**
**2023**
**£**
**24,202**
**(350)**|
|---|---|
||**23,852**|
||_Total_
_funds_
_2022_
_£_
_20,659_
_(200)_|
||_20,459_|
Page 10