**REGISTERED CHARITY NUMBER: 289483**
## **THE YESHIVAS OHEL SHIMON TRUST**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
**THE YESHIVAS OHEL SHIMON TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
||**Page**||
|---|---|---|
|**Reference and Administrative Details**|1||
|**Report of the Trustees**|2||
|**Independent Examiner's Report**|3||
|**Statement of Financial Activities**|4||
|**Balance Sheet**|5||
|**Notes to the Financial Statements**|6 to|9|
**THE YESHIVAS OHEL SHIMON TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022**
**TRUSTEES** M Soffer D Spitzer Y M Ciment **PRINCIPAL ADDRESS** 37 Moresby Road London E5 9LE **REGISTERED CHARITY** 289483 **NUMBER INDEPENDENT EXAMINER** Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS **BANKERS** Barclays Bank Plc Kingsland London E8 2JT
Page 1
## **THE YESHIVAS OHEL SHIMON TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 March 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).
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
The information is shown on page 1 of the financial statements and forms part of this report.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are the promotion of Orthodox Jewish religion and Orthodox Jewish education as well as the general relief of poverty.
The charity raises funds for the Great Yeshiva Ohel Shimon of Erlau and associated Institutions in Israel. This incorporates a large and growing network of educational and social institutions throughout the country. The funds are used to finance the building of new schools and colleges, contribute towards ongoing running costs and subsidise many welfare programmes.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
## **FINANCIAL REVIEW**
## **Performance**
The trustees are satisfied with the results of the year.There was an decrease of some 10% in income and 13% in grantmaking. There was a surplus for the year.
## **Reserves policy**
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £90,573 (2021 - £82,721).
## **FUTURE PLANS**
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity was established by Declaration of Trust on the 8th May 1984
## **Recruitment and appointment of new trustees**
It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
## **Risk management**
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
Approved by order of the board of trustees on 30 January 2023 and signed on its behalf by:
M Soffer - Trustee
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE YESHIVAS OHEL SHIMON TRUST**
## **Independent examiner's report to the trustees of The Yeshivas Ohel Shimon Trust**
I report to the charity trustees on my examination of the accounts of The Yeshivas Ohel Shimon Trust (the Trust) for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the 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.
E Meyer FCA BSc Institute of Chartered Accountants in England and Wales Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
30 January 2023
Page 3
## **THE YESHIVAS OHEL SHIMON TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
414,338
**EXPENDITURE ON**
Raising funds
14,826
**Charitable activities**
Grantmaking
390,400
Support costs
1,260
**Total**
406,486
**NET INCOME**
7,852
**RECONCILIATION OF FUNDS**
Total funds brought forward
82,721
**TOTAL FUNDS CARRIED FORWARD**
90,573|**Restricted**
**fund**
**£**
-
-
-
-
-
-
-
-|**2022**
**Total**
**funds**
**£**
414,338
14,826
390,400
1,260
406,486
7,852
82,721
90,573|**2021**
**Total**
**funds**
**£**
460,997|
|---|---|---|---|
||||9,069
449,000
2,372|
||||460,441|
||||556
82,165|
||||82,721|
The notes form part of these financial statements
Page 4
## **THE YESHIVAS OHEL SHIMON TRUST**
## **BALANCE SHEET 31 MARCH 2022**
|**Notes**
**CURRENT ASSETS**
Debtors
6
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
9
Unrestricted funds
**TOTAL FUNDS**|**2022**
**£**
40,000
52,463
92,463
(1,890)
90,573
90,573
90,573
90,573
90,573|**2021**
**£**
55,000
28,981
83,981
(1,260)
82,721
82,721
82,721
82,721
82,721|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 January 2023 and were signed on its behalf by:
M Soffer - Trustee
The notes form part of these financial statements
Page 5
**THE YESHIVAS OHEL SHIMON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
Donations are included in full in the Statement of Financial Activities when received.
## **Expenditure**
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **2. GRANTS PAYABLE**
|**GRANTS PAYABLE**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Grantmaking|390,400|449,000|
All grant were given to Yeshivas Ohel Shimon of Erlau - Israel
Page 6
**THE YESHIVAS OHEL SHIMON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **3. SUPPORT COSTS**
|**SUPPORT COSTS**||||
|---|---|---|---|
||||**Governance**|
||||**costs**|
||||**£**|
|Support costs|||1,260|
|Support costs, included in the above, are as follows:||||
|**Other**||||
||**2022**||**2021**|
||**Total**||**Total**|
||**activities**||**activities**|
||**£**||**£**|
|Sundry expenses||-|590|
|**Governance costs**||||
||**2022**||**2021**|
||**Support**||**Total**|
||**costs**||**activities**|
||**£**||**£**|
|Independent examiner's fee|420||420|
|Independent examiner's other fees|840||840|
|General expenses||-|522|
||1,260||1,782|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||**2022**|**2021**|
|---|---|---|
|Fundraising|2|2|
No employees received emoluments in excess of £60,000.
Page 7
## **THE YESHIVAS OHEL SHIMON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
|**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**8.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Unrestricted**
**Restricted**
**fund**
**fund**
**£**
**£**
Current assets
92,463
-
Current liabilities
(1,890)
-
90,573
-
**9.**
**MOVEMENT IN FUNDS**
**At 1.4.21**
**£**
**Unrestricted funds**
General fund
82,721
**TOTAL FUNDS**
82,721
Net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
414,338
**TOTAL FUNDS**
414,338|**2022**
**2021**
**£**
**£**
40,000
55,000
**2022**
**2021**
**£**
**£**
1,890
1,260
**2022**
**2021**
**Total**
**Total**
**funds**
**funds**
**£**
**£**
92,463
83,981
(1,890)
(1,260)
90,573
82,721
**Net**
**movement**
**At**
**in funds**
**31.3.22**
**£**
**£**
7,852
90,573
7,852
90,573
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(406,486)
7,852
(406,486)
7,852|
|---|---|
Page 8
## **THE YESHIVAS OHEL SHIMON TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **9. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**At 1.4.20**
**£**
**Unrestricted funds**
General fund
82,165
**TOTAL FUNDS**
82,165
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
459,499
**Restricted funds**
Restricted fund
1,498
**TOTAL FUNDS**
460,997|**Net**
**movement**
**At**
**in funds**
**31.3.21**
**£**
**£**
556
82,721
556
82,721
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(458,943)
556
(1,498)
-
(460,441)
556|
|---|---|
## **10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2022.
Page 9