**REGISTERED COMPANY NUMBER: 01657236 (England and Wales) REGISTERED CHARITY NUMBER: 285513** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 30 September 2020** ## **for** ## **Dajtrain Limited** Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX **Dajtrain Limited** **Contents of the Financial Statements for the Year Ended 30 September 2020** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Statement of Financial Position**||6|| |**Notes to the Financial Statements**|7|to|11| **Dajtrain Limited (Registered number: 01657236)** ## **Report of the Trustees for the Year Ended 30 September 2020** 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 period ended 30 September 2020. 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 charity is established to further those purposes both in the United Kingdom and abroad recognised as charitable by English Law and in furtherance of the aforementioned objects, the company receives income from its cash deposits, investments and voluntary income from companies connected with the trustees which it utilises in the provision and distribution of grants and donations to organisations that fall within the objectives of the charity. It has concentrated its activities in promoting charitable activities of institutions teaching the principles of traditional Judaism, and the giving of philanthropic aid to the needy. The 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. ## **Achievements and performance** During the year the charity has continued its philanthropic activities and has maintained its support of organisations engaging in education, advancement of religion, and thc giving of philanthropic aid. The reserves remain available to organisations engaging in activities compatible with the aims and objectives of the charity. The trustees expect such demands to increase in future years. The financial results of the company are fully reflected in the attached financial statements together with the notes thereon. Grant and donations in the year totalled £283,390 (2019 - £386,740) ## **FINANCIAL REVIEW** ## **Principal funding sources** The charity's principal funding sources in the year was its investment portfolio, together with donations received from related companies. ## **Investment policy and objectives** Under the Memorandum and Articles of Association, the charity has the power to make any investment which the trustees see fit provided any moneys are not immediately required for use in connection with any of its objects. The charity's investment policy is to maximise the income and gains so that its charitable objectives be maintained and expanded. ## **Reserves policy** The Reserves Policy of the trustees is to maintain unrestricted funds, which are the free reserves of the charity, at a level they consider appropriate to the charity's needs taking into account likely future requirements. A proportion of the reserves are held in readily realisable form to cover on-going grantmaking activities and contingencies arising from additional calls made upon the charity for thc support of organisations in times of need. The charity's reserves are represented by unrestricted funds arising from past operating results. The trustees are satisfied that thc present balance of distributable reserves is sufficient to support anticipated expenditure. ## **Financial position** The financial position of the charity is satisfactory. The charity's statement of Financial activities show a net deficit of £55,825 (2019 - £6,920) and total reserves of £1,685,076 (2019 - £1,740,901). ## **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. Page 1 **Dajtrain Limited (Registered number: 01657236)** ## **Report of the Trustees for the Year Ended 30 September 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees** The charity may by ordinary resolution appoint a person who is willing to act to be a trustee either to fill a vacant or as an additional trustee. A trustee shall cease to hold office by virtue of Article 35 of the Articles of Association New trustees are appointed based on personal competence, specialist skills, local availability and from those who are able to promote the charitable activities of the charity. Induction of new trustees into the workings of the charity is undertaken by the current trustees. ## **Organisational structure** The charity is administered by the governors who are all trustees. Every trustee holds offices until he/she die or shall cease to hold office by virtue of the Article of Association. The day to day affairs of the company are administered by the trustees whose chairman is Mr C D Schlaff. As set out in the Articles of Association the number of trustees shall be not less than three but shall not be subject to a maximum. The quorum for the transaction of the business of the trustees may be fixed by the trustees but shall not be less than the majority of the number of two trustees, whichever is greater. None of the trustees have any beneficial interest in the charity. All trustees give their time voluntarily and no benefit or expenses were paid to them in the year. ## **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** 01657236 (England and Wales) ## **Registered Charity number** 285513 ## **Registered office** 5 Technology Park Colindeep Lane Colindale London NW9 6BX ## **Trustees** C D Schlaff Trustee M Saberski Trustee J J Schlaff Trustee Mrs Z I F Schlaff Trustee R Schlaff Trustee ## **Company Secretary** Mrs Z I F Schlaff ## **Independent Examiner** Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX Page 2 **Dajtrain Limited (Registered number: 01657236)** ## **Report of the Trustees** ## **for the Year Ended 30 September 2020** Approved by order of the board of trustees on 24 June 2021 and signed on its behalf by: C D Schlaff - Trustee Page 3 ## **Independent Examiner's Report to the Trustees of Dajtrain Limited** ## **Independent examiner's report to the trustees of Dajtrain Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2020. ## **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: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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. Gedalia Waldman BA FCA Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX 25 June 2021 Page 4 ## **Dajtrain Limited** ## **Statement of Financial Activities for the Year Ended 30 September 2020** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Charitable donations paid
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|2020
Unrestricted
fund
£
111,900
120,000
231,900
303
287,422
287,725
(55,825)
1,740,901
1,685,076|2019
Total
funds
£
264,000
120,000
384,000
275
390,645
390,920
(6,920)
1,747,821
1,740,901| |---|---|---| The notes form part of these financial statements Page 5 ## **Dajtrain Limited (Registered number: 01657236)** ## **Statement of Financial Position 30 September 2020** |Notes
**CURRENT ASSETS**
Debtors
7
Investments
8
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|2020
Unrestricted
fund
£
180,000
1,500,000
8,627
1,688,627
(3,551)
1,685,076
1,685,076
1,685,076
1,685,076
1,685,076|2019
Total
funds
£
241,000
1,500,000
3,452
1,744,452
(3,551)
1,740,901
1,740,901
1,740,901
1,740,901
1,740,901| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (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 24 June 2021 and were signed on its behalf by: C D Schlaff - Trustee The notes form part of these financial statements Page 6 **Dajtrain Limited** **Notes to the Financial Statements for the Year Ended 30 September 2020** ## **1. STATUTORY INFORMATION** Dajtrain Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and office address can be found on the Company Information Page. ## **2. 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. The presentation currency of the financial statements is the Pound Sterling £. ## **Financial instruments** The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, cash at bank and loans from banks and related or third parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. ## **Debtors** Basic financial assets, including trade and other debtors, are measured at transaction price, less any impairment. ## **Cash and cash equivalents** Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost. ## **Creditors** Basic financial liabilities, including trade and other creditors, are recognised at transaction price. ## **Incoming resources** Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Investment income is recognised on an accruals basis. ## **Resources expended** 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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **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. continued... Page 7 **Dajtrain Limited** ## **Notes to the Financial Statements - continued for the Year Ended 30 September 2020** ## **2. ACCOUNTING POLICIES - continued** ## **Fund accounting** Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **3. INVESTMENT INCOME** |Other interest receivable
**4.**
**GRANTS PAYABLE**
Charitable donations paid
**5.**
**SUPPORT COSTS**
Charitable donations paid|2020
2019
£
£
120,000
120,000
2020
2019
£
£
283,390
386,740
Governance
costs
£
4,032| |---|---| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 September 2020 nor for the year ended 30 September 2019. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 September 2020 nor for the year ended 30 September 2019. ## **7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---| |Other debtors
Prepayments and accrued income|2020
£
60,000
120,000
180,000|2019
£
60,000
181,000| |||241,000| continued... Page 8 **Dajtrain Limited** ## **Notes to the Financial Statements - continued for the Year Ended 30 September 2020** |**8.**
**CURRENT ASSET INVESTMENTS**
Loan investment
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
Accruals and deferred income
**10.**
**MOVEMENT IN FUNDS**
At
1.10.19
£
**Unrestricted funds**
General fund
1,740,901
**TOTAL FUNDS**
1,740,901
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
231,900
**TOTAL FUNDS**
231,900
**Comparatives for movement in funds**
At
1.10.18
£
**Unrestricted funds**
General fund
1,747,821
**TOTAL FUNDS**
1,747,821||2020
£
1,500,000
2020
£
192
3,359
3,551
Net
movement
in funds
£
(55,825)
(55,825)
Resources
expended
£
(287,725)
(287,725)
Net
movement
in funds
£
(6,920)
(6,920)||2019
£
1,500,000
2019
£
192
3,359
3,551
At
30.9.20
£
1,685,076
1,685,076
Movement
in funds
£
(55,825)
(55,825)
At
30.9.19
£
1,740,901
1,740,901| |---|---|---|---|---| |||||| |||||| |||||| |||||| continued... Page 9 **Dajtrain Limited** ## **Notes to the Financial Statements - continued for the Year Ended 30 September 2020** ## **10. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
384,000
384,000|Resources
Movement
expended
in funds
£
£
(390,920)
(6,920)
(390,920)
(6,920)|Resources
Movement
expended
in funds
£
£
(390,920)
(6,920)
(390,920)
(6,920)| |---|---|---|---| ||||(6,920)| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1.10.18
£
1,747,821
1,747,821|Net
movement
in funds
£
(62,745)
(62,745)|At
30.9.20
£
1,685,076| |---|---|---|---| ||||1,685,076| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
615,900
615,900|Resources
Movement
expended
in funds
£
£
(678,645)
(62,745)
(678,645)
(62,745)|Resources
Movement
expended
in funds
£
£
(678,645)
(62,745)
(678,645)
(62,745)| |---|---|---|---| ||||(62,745)| ## **11. RELATED PARTY DISCLOSURES** Included within current asset investments is an amount of £1,500,000 (2019 - £1,500,000) due from Sabreleague Limited, a company in which two of the trustees are directors. Interest of 8% per annum is charged on this balance. During the period under review, donations of £111,900 (2019 - £264,000) were received from companies under common control and directorship continued... Page 10 **Dajtrain Limited** ## **Notes to the Financial Statements - continued for the Year Ended 30 September 2020** ## **12. FINANCIAL ASSETS AND LIABILITIES** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |||| |Financial assets measured at amortised cost|1,688,627|1,744,452| |||| |||| |Financial liabilities measured at amortised cost|3,551|3,551| |||| Page 11