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2022-09-30-accounts

Charity registration number 285513

Company registration number 01657236 (England and Wales)

DAJTRAIN LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

DAJTRAIN LIMITED

CONTENTS

Page
The Trustee's Report report 1 - 4
Independent auditor's report 5 - 7
Statement of financial activities 8
Statement of financial position 9
Notes to the financial statements 10 - 15

DAJTRAIN LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Saberski
C D Schlaff
J Schlaff
R Schlaff
Z Schlaff
Secretary N Schlaff
Charity number 285513
Company number 01657236
Registered office 5 Technology Park
Colindeep Lane
London
United Kingdom
NW9 6BX
Auditor Grunberg & Co Limited
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 2022

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 2022. 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).

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 Companies Act 2006 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).

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 £870,120 (2021 - £365,155)

Financial review

Financial position

The financial position of the charity is satisfactory.

The charity's Statement of Financial Activities show a net surplus of £481,931 (2021 - £183,994) and total reserves of £2,351,001 (2021 - £1,869,070).

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.

DAJTRAIN LIMITED

THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

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.

DAJTRAIN LIMITED

THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

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

Auditor

Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX

DAJTRAIN LIMITED

THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Statement of The trustee's report responsibilities

The Trustees, who are also the directors of Dajtrain Limited for the purpose of company law, are responsible for preparing the The Trustee's Report Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law 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, including the income and expenditure, of the charitable company for that year.

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

The Trustees are responsible for keeping adequate 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 Companies Act 2006. 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.

Auditor

In accordance with the company's articles, a resolution proposing that Grunberg & Co Limited be reappointed as auditor of the company will be put at a General Meeting.

Approved by order of the board of Trustees on 28 June 2023 and signed on its behalf by:

Z Schlaff

Trustee

26 June 2023

DAJTRAIN LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF DAJTRAIN LIMITED

Opinion

We have audited the financial statements of Dajtrain Limited (the ‘charity’) for the year ended 30 September 2022 which comprise the statement of financial activities, the statement of financial position 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 The trustee's report 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.

DAJTRAIN LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DAJTRAIN LIMITED

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 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of The trustee's report responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, 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 liquidate the charitable company or 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.

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

The financial statements for the year ended 30 September 2021, forming comparative figures of the financial statements for the year ended 30 September 2022, are unaudited.

DAJTRAIN LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DAJTRAIN LIMITED

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.

Gedalia Waldman BA FCA (Senior Statutory Auditor) for and on behalf of Grunberg & Co Limited

30 June 2023

Chartered Accountants Statutory Auditor

5 Technology Park Colindeep Lane Colindale London United Kingdom NW9 6BX

DAJTRAIN LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Unrestricted Unrestricted
funds funds
2022 2021
Notes £ £
Income from:
Donations and legacies 2 1,237,126 433,500
Investments 3 120,303 120,014
Total income 1,357,429 553,514
Expenditure on:
Raising funds 4 263 183
Charitable activities 5 935,235 369,337
Total expenditure 935,498 369,520
Net income for the year/
Net movement in funds 421,931 183,994
Fund balances at 1 October 2021 1,869,070 1,685,076
Fund balances at 30 September 2022 2,291,001 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.

DAJTRAIN LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2022

Notes
Current assets
Debtors
9
Investments
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Income funds
Unrestricted funds		 2022
£
120,000
1,500,000
674,552
2,294,552
(3,551)		 £
2,291,001
2,291,001
2,291,001		 2021
£
180,000
1,500,000
192,621
1,872,621
(3,551)		 £
1,869,070
1,869,070
1,869,070

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 2022, although an audit has been carried out under section 144 of the Charities Act 2011.

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 under the requirements of the Companies Act 2006, 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 26 June 2023

Z Schlaff

Trustee

Company registration number 01657236

DAJTRAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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, 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.

DAJTRAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

DAJTRAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2
3
4		 Donations and legacies
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Donations and gifts
1,237,126
433,500
Investments
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Interest receivable
120,303
120,014
Raising funds
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Fundraising and publicity
Other fundraising costs
263
183
263
183		 Donations and legacies
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Donations and gifts
1,237,126
433,500
Investments
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Interest receivable
120,303
120,014
Raising funds
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Fundraising and publicity
Other fundraising costs
263
183
263
183
183

DAJTRAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

5
Charitable activities
Donations
Donations
Charitable
Expenditure
2022
2022
2022
£
£
£
Charitable
expenditure
-
-
60,000
Grant funding
of activities
(see note 6)
827,400
42,720
-
Share of
governance
costs (see note
7)
5,115
-
-
832,515
42,720
60,000
6
Grants payable
Donations
Donations
2022
2022
£
£
Grants to institutions:
Other
827,400
-
Grants to individuals
-
42,720
827,400
42,720		 Total
2022
Donations
Donations
2021
2021
£
£
£
60,000
-
-
870,120
354,280
10,875
5,115
4,182
-
935,235
358,462
10,875
Total
2022
Donations
Donations
2021
2021
£
£
£
827,400
354,280
-
42,720
-
10,875
870,120
354,280
10,875		 Total
2021
£
-
365,155
4,182
369,337
Total
2021
£
354,280
10,875
365,155

DAJTRAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

7 Support costs

Support costs
Support costs
Governance
costs
£
£
Accountancy
-
5,115
-
5,115
Analysed between
Charitable activities
-
5,115		 2022
£
5,115
5,115
5,115		 2021
£
4,182
4,182
4,182

Governance costs includes payments to the auditors of £5,115 (2021- £4,182) 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
10
Current asset investments
Unlisted investments
11
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2022
£
-
120,000
120,000
2022
£
1,500,000
2022
£
192
3,359
3,551		 2021
£
60,000
120,000
180,000
2021
£
1,500,000
2021
£
192
3,359
3,551

DAJTRAIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2022

12 Related party disclosures

Included within current asset investments is an amount of £1,500,000 (2021 - £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 £1,230,000 (2021 - £433,500) were received from companies under common control and directorship. Additionally, donations of £30,000 (2021 - £nil) were paid to institutions under common control and directorship