**Charity registration number 285513**
**Company registration number 01657236 (England and Wales)**
## **DAJTRAIN LIMITED**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2021**
## **DAJTRAIN LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|The Trustee's Report report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Statement of financial position|6|
|Notes to the financial statements|7 - 11|
## **DAJTRAIN LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|M Saberski|
|---|---|
||C D Schlaff|
||J Schlaff|
||R Schlaff|
||Z Schlaff|
|**Charity number**|285513|
|**Company number**|01657236|
|**Registered office**|5 Technology Park|
||Colindeep Lane|
||Colindale|
||London|
||United Kingdom|
||NW9 6BX|
## **DAJTRAIN LIMITED**
## **THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
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 2021. 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**
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 the 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.
Grants and donations in the year totalled £365,155 (2020 - £283,390)
## **Financial review**
## **Financial position**
The financial position of the charity is satisfactory.
The charity's Statement of Financial Activities show a net surplus of £183,994 (2020 - £55,825 net deficit) and total reserves of £1,869,070 (2020 - £1,685,076).
## **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 the 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 the present balance of distributable reserves is sufficient to support anticipated expenditure.
## **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.
- 1 -
## **DAJTRAIN LIMITED**
## **THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **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 Trustees, who are also the directors for the purpose of company law, and who served during the Year and up to the date of signature of the financial statements were:
M Saberski
C D Schlaff
J Schlaff R Schlaff Z Schlaff
## **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.
## **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.
## **Organisational structure**
The charity is administered by the governors who are all trustees. Every trustee holds offices until he/she dies or shall cease to hold office by virtue of the Articles 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.
- 2 -
## **DAJTRAIN LIMITED**
## **THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
**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 Schlaff Trustee Z Schlaff Trustee R Schlaff Trustee
**Company Secretary** N Schlaff
## **Independent Examiner**
Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX
Approved by order of the board of trustees on 28 June 2022 and signed on its behalf by:
C D Schlaff
**Trustee**
28 June 2022
- 3 -
## **DAJTRAIN LIMITED**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF DAJTRAIN LIMITED**
I report to the Trustees on my examination of the financial statements of Dajtrain Limited (the charity) for the Year ended 30 September 2021.
## **Responsibilities and basis of report**
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
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 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements 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 financial statements to be reached.
**Gedalia Waldman BA FCA Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX**
Dated: 29 June 2022
- 4 -
## **DAJTRAIN LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2021**
**2020**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
433,500
111,900
Investments
**3**
120,014
120,000
**Total income**
553,514
231,900
**Expenditure on:**
Raising funds
**4**
183
303
Charitable activities
**5**
369,337
287,422
**Total expenditure**
369,520
287,725
**Net income/(expenditure) for the Year/**|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2021**
**2020**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
433,500
111,900
Investments
**3**
120,014
120,000
**Total income**
553,514
231,900
**Expenditure on:**
Raising funds
**4**
183
303
Charitable activities
**5**
369,337
287,422
**Total expenditure**
369,520
287,725
**Net income/(expenditure) for the Year/**|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2021**
**2020**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
433,500
111,900
Investments
**3**
120,014
120,000
**Total income**
553,514
231,900
**Expenditure on:**
Raising funds
**4**
183
303
Charitable activities
**5**
369,337
287,422
**Total expenditure**
369,520
287,725
**Net income/(expenditure) for the Year/**|
|---|---|---|
||**funds**||
||**2021**||
||**£**||
|**Income from:**|||
|Donations and legacies
**2**|433,500||
|Investments
**3**|120,014||
||||
|**Total income**|553,514||
|**Expenditure on:**|||
|Raising funds
**4**|183||
||||
|Charitable activities
**5**|369,337||
||||
|**Total expenditure**|369,520||
|**Net income/(expenditure) for the Year/**|||
|**Net movement in funds**|183,994|(55,825)|
|||1,740,901
1,685,076|
|Fund balances at 1 October 2020|1,685,076||
||||
|**Fund balances at 30 September 2021**|1,869,070||
The statement of financial activities includes all gains and losses recognised in the Year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **DAJTRAIN LIMITED**
## **STATEMENT OF FINANCIAL POSITION**
## _**AS AT 30 SEPTEMBER 2021**_
|**Notes**
**Current assets**|**2021**||**2020**||
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
||180,000
1,500,000
192,621
1,872,621
(3,551)|1,869,070
1,869,070
1,869,070|180,000
1,500,000
8,627
1,688,627
(3,551)||
|Debtors
**9**|||||
|Investments
**10**|||||
|Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**11**|||||
||||||
|Net current assets||||1,685,076|
||||||
||||||
|**Income funds**|||||
|Unrestricted funds||||1,685,076|
||||||
||||||
|||||1,685,076|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the Year ended 30 September 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 28 June 2022
C D Schlaff
**Trustee**
**Company registration number 01657236**
- 6 -
## **DAJTRAIN LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
Dajtrain Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, Colindale, London, NW9 6BX, United Kingdom.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
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. The principal accounting policies adopted are set out below.
## **1.2 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 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.
## **1.3 Income**
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.
## **1.4 Expenditure**
## **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.
## **1.5 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.
- 7 -
## **DAJTRAIN LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
**1 Accounting policies**
**(Continued)**
## **1.6 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.
## _**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.
## **1.7 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **1.8 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
- 8 -
## **DAJTRAIN LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**2**|**Donations and legacies**|**Donations and legacies**|**Donations and legacies**|**Donations and legacies**|**Donations and legacies**|
|---|---|---|---|---|---|
||**Unrestricted**
Unrestricted
**funds**
funds
**2021**
2020
**£**
£|||||
|||||**funds**|funds|
|||||||
|||||**2021**|2020|
|||||**£**|£|
|||||||
||Donations and gifts|||433,500|111,900|
|||||||
|||||||
|**3**|**Investments**|||||
||**Unrestricted**
Unrestricted
**funds**
funds
**2021**
2020
**£**
£|||||
|||||**funds**|funds|
|||||||
|||||**2021**|2020|
|||||**£**|£|
|||||||
||Interest receivable|||120,014|120,000|
|||||||
|||||||
|**4**|**Raising funds**|||||
||**Unrestricted**
Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Fundraising and publicity|||||
|||||**funds**|funds|
|||||||
|||||**2021**|2020|
|||||**£**|£|
|||||||
||Other fundraising costs|||183|303|
|||||||
|||||||
|||||183|303|
|||||||
|||||||
|**5**|**Charitable activities**|||||
||**Donations**
**Donations**
**2021**
**2021**
**£**
**£**|||||
|||||**Total**
**2021**
**Donations**
**2020**||
|||**2021**|||**2020**|
|||**£**|**£**|**£**|**£**|
|||||||
||Grant funding of activities (see note 6)|354,280|10,875|365,155|283,390|
||Share of governance costs (see note 7)|4,182|-|4,182|4,032|
|||||||
|||||||
|||358,462|10,875|369,337|287,422|
- 9 -
## **DAJTRAIN LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **6 Grants payable**
|**Donations**
**Donations**
Donations
**2021**
**2021**
2020
**£**
**£**
£
Grants to institutions:|**Donations**
**Donations**
Donations
**2021**
**2021**
2020
**£**
**£**
£
Grants to institutions:|**Donations**
**Donations**
Donations
**2021**
**2021**
2020
**£**
**£**
£
Grants to institutions:|**Donations**
**Donations**
Donations
**2021**
**2021**
2020
**£**
**£**
£
Grants to institutions:|
|---|---|---|---|
||**2021**|**2021**|2020|
||**£**|**£**|£|
|||||
|Grants to institutions:||||
|Other|354,280|-|283,390|
|||||
|Grants to individuals|-|10,875|-|
|||||
|||||
||354,280|10,875|283,390|
-
## **7 Support costs**
|**Support costs**|**Support costs**|**Support costs**|||||
|---|---|---|---|---|---|---|
|**Support costs**
**Governance**
**costs**
**£**
**£**|||**2021**
Support costs
Governance
costs|||2020|
||||||||
||**£**|**£**|**£**|£|£|£|
||||||||
|Accountancy|-|4,182|4,182|-|4,032|4,032|
||||||||
||||||||
||-|4,182|4,182|-|4,032|4,032|
||||||||
||||||||
|Analysed between|||||||
|Charitable activities|-|4,182|4,182|-|4,032|4,032|
Governance costs includes payments to the auditors of £4,182 (2020- £4,032) for independent examiners fees.
## **8 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the Year.
|**9**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income|||
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
||||
||60,000|60,000|
||120,000|120,000|
||||
||||
||180,000|180,000|
- 10 -
## **DAJTRAIN LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**10**
**Current asset investments**|||
|---|---|---|
|Unlisted investments
**11**
**Creditors: amounts falling due within one year**|**2021**|**2020**|
||**£**|**£**|
||||
||1,500,000|1,500,000|
||||
||||
|Other creditors
Accruals and deferred income|**2021**|**2020**|
||**£**|**£**|
||||
||192|192|
||3,359|3,359|
||||
||||
||3,551|3,551|
## **12 Related party disclosures**
Included within current asset investments is an amount of £1,500,000 (2020 - £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 £433,500 (2020 - £111,900) were received from companies under common control and directorship.
- 11 -