# **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
**Trustees' report and financial statements for the year ended 31 March 2021**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Contents**
||**Page**|
|---|---|
|Reference and administrative information|**1**|
|Trustees' report|**2 - 3**|
|Independent examiner's report|**4**|
|Statement of financial activities|**5**|
|Balance sheet|**6**|
|Cash flow statement|**7**|
|Notes to the financial statements|**8 - 13**|
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Reference and administrative information**
|Trustees|P Braun|
|---|---|
||A Friesel|
||A Steinmetz|
|Charity number|296915|
|Office|47 East Bank|
||London N16 5RJ|
|Independent examiner|E Meyer FCA BSc|
||Sugarwhite Meyer Accountants Ltd|
||Chartered Accountants|
||First Floor|
||94 Stamford Hill|
|Bankers|Santander UK plc|
||Bootle|
||Merseyside L30 4GB|
**Page 1**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Trustees' report for the year ended 31 March 2021**
The trustees present their annual report and financial statements for the year ended 31 March 2021.
## **Reference and administrative information**
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
## **Constitution**
The charity is constituted by Declaration of Trust dated 12 November 1986.
## **Organisation**
The power to appoint new trustees is vested in the board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures. The day to day running of the school is delegated to school administrators.
## **Objects for public benefit**
The objects of the charity are to provide a place of worship, the provision of a school for the advancement of Orthodox Jewish religious education and grantmaking for the relief of poverty and the advancement of Orthodox Jewish religious education.
Fees are charged but those in financial hardship are given an allowance or are fully funded, according to circumstances. No child is refused education because of an inability to pay.
The trustees confirm that they have given due regard to the Charity Commission's guidance on public benefit and in particular the guidance on advancing education and fee charging.
## **Grantmaking policy**
In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available.
Applications by individuals must be accompanied by a letter of recommendation by the applicant's minister or other known religious leader.
## **Review of activities and achievements**
The trustees are extremely satisfied with the results for the year, especially in the Covid climate. Government funding made up for the drop in donations and overall, income was at a similar level to last year. The charity increased grantmaking to help famiilies suffering from the effects of Covid.
In excess of 200 pupils attend the school which has three departments for nursery, primary and secondary education in Stamford Hill, London N16.
The annual school intake is steadily increasing, reflecting the growth of the community which the trust serves. The school continues to invest in new textbooks and teaching aids so that educational materials are of the highest standard. A varied programme of school outings and activities are arranged for the pupils.The teaching staff and trustees are pleased with the achievements and standards attained. The trustees are grateful to the Hackney Learning Trust their grants. The charity also received Covid related Government grants
## **Reserve policy**
The trustees do not seek to maintain reserves other than to ensure that they can continue the activities of the charity. Unrestricted reserves at the year end were £67,592 (2021 - £44,788) and restricted rserves £13,403 (2021 - £14,891).
**Page 2**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Trustees' report for the year ended 31 March 2021**
## **Risk review**
The trutees have identified and assessed the major risks to which the charity is exposed, in particular those of safety and protection of the vulnerable young adults whilst in the charity's care as well as the finances of the charity. The trustees are satisfied that systems are in place and routinely assessed including procedures for Child Protection, Health and Safety, Vulnerable Adults Policy and Financial Management and Controls
## **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.
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' Annual 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 and Wales 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 of the charity for that period. In preparing those financial statements, the trustees are required to;
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which 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 (Account and Reports) Regulations 2008, and 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.
This report was approved by the trustees on 30 December 2002 and signed on their behalf by
**A Friesel Trustee**
**Page 3**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
Independent examiner's report to the trustees on the unaudited financial statements of TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST
I report to the trustees on my examination of the financial statements of Toldos Yaakov Yosef Institutions Trust for the year ended 31 March 2021.
## **Respective responsibilities of trustees and examiner**
As the charity trustees of the trust you are are responsible for the preparation of the finacial statements 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 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 member of The Insitute of Chatered 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 account do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities ( Account and Reports) Regulations 2008 other than any requirement that accounts give a 'true and fair view' which is not a matter considered as part of the independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention sholuld be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**E Meyer FCA BSc The Insitute of Chatered Accountants in England and Wales Sugarwhite Meyer Accountants Ltd Chartered Accountants First Floor 94 Stamford Hill London N16 6XS 30 January 2022**
**Page 4**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Statement of financial activities for the year ended 31 March 2021**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Income**
_Donations_
77,067
-
_Goverment Grant_
-
104,504
_Grants for Nursery_
130,771
29,182
_Other grants_
8,022
1,680
_Charitable activities_
483,095
-
**Total income**
698,955
135,366
**Expenditure**
_Cost of raising funds_
2
)
(12,991
-
_Charitable activities_
Grants
3
)
(111,630
-
School running expenses
4
)
(269,854
)
(68,427
Nursery running expenses
4
)
(281,678
)
(68,427
**Total expenditure**
)
(676,153
)
(136,854
**Net income/(expenditure)**
22,802
)
(1,488
**Reconciliation of funds**
Total funds brought forward
44,790
14,891
**Total funds carried forward**
67,592
13,403|**2021**
**Total**
**£**
77,067
104,504
159,953
9,702
483,095
834,321
)
(12,991
)
(111,630
)
(338,281
)
(350,105
)
(813,007
21,314
59,681
80,995|**2020**
**Total**
**£**
152,712
-
111,533
81,457
488,093
833,795
)
(23,190
)
(48,871
)
(404,962
)
(333,812
)
(810,835
22,960
36,720
59,680|
|---|---|---|
**The notes on pages 8 to 13 form an integral part of these financial statements.**
**Page 5**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Balance sheet as at 31 March 2021**
|**Notes**
**Fixed assets**
Tangible assets
**8**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling**
**due within one year**
**10**
**Net current assets**
**Net assets**
**Funds of the charity**
Unrestricted funds
Restricted funds
**Total charity funds**|**2021**
**£**
58,674
4,203
62,877
)
(18,942|**£**
37,060
43,935
80,995
67,592
13,403
80,995|**2020**
**£**
63,028
10,192
73,220
)
(29,971|**£**
16,430
43,249|
|---|---|---|---|---|
|||||59,679|
|||||44,788
14,891|
|||||59,679|
The financial statements were approved by the trustees on 30 December 2002 and signed on their behalf by
**A Friesel Trustee**
**The notes on pages 8 to 13 form an integral part of these financial statements.**
**Page 6**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Cash flow statement**
## **for the year ended 31 March 2021**
|**Cash generated from operations**
**Operating gain**
Reconciliation to cash generated from operations:
Depreciation
Decrease in other debtors
(Decrease) in trade creditors
(Decrease) in other creditors
**Cash from other sources**
Proceeds from sales of tangible fixed assets
**Application of cash**
Purchase of tangible fixed assets
**Net decrease in cash in the year**
Cash at bank and in hand less
overdrafts at beginning of year
**Cash at bank and in hand less**
**overdrafts at end of year**
Consisting of:
Cash at bank and in hand
Overdrafts|**2021**
**£**
21,315
7,365
4,354
)
(9,488
)
(1,772
1,390
)
(29,385|**£**
21,774
1,390
)
(29,385
)
(6,221
10,192
3,971
4,202
)
(231
3,971|**2020**
**£**
22,958
2,166
)
(28,726
9,433
)
(266
-
)
(840|**£**
5,565
-
)
(840
4,725
5,467
10,192
10,192
-
10,192|
|---|---|---|---|---|
**Page 7**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Notes to the financial statements for the year ended 31 March 2021**
## **1. Accounting policies**
## **1.1. Accounting convention**
The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared under the historical cost convention and 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 (Charities SORP FRS 102 - effective 1 January 2019)' and the Charities Act 2011.
## **1.2. Income**
Income received by way of donations is accounted for when received
Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
Income from charitable activities is included in the year in which it is receivable.
## **1.3. Expendture**
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 costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## **1.4. Tangible fixed assets and depreciation**
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 10% net book value Fixtures, fittings and equipment - 25% net book value Motor vehicles - 20% net book value
## **1.5. Going concern**
There are no material uncertainties about the charity's ability to continue.
**Page 8**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Notes to the financial statements for the year ended 31 March 2021**
|**2.**
**Cost of raising donations**
Advertising
Telephone
Travelling
Function
**3.**
**Grants**
Institutions - religious education
Institutions - poor and needy
Institutions - advancement of religion
Individuals - poor and needy
Instituional grants include the following:
Tchabe Kollel
Beis Trana
Others under £3,000|**2021**
**£**
321
-
5,408
7,262
12,991
**2021**
**£**
5,725
-
17,939
87,966
111,630
5,000
3,350
15,314
23,664|**2020**
**£**
7,618
4,126
5,171
6,275|
|---|---|---|
|||23,190|
|||**2020**
**£**
32,006
2,795
2,875
11,195
48,871|
**Page 9**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Notes to the financial statements for the year ended 31 March 2021**
## **4. Charitable activities**
|**School**
**Nursery**
**£**
**£**
Staff costs
120,772
120,772
Professional staff
29,986
39,542
Rent and rates
35,915
20,640
Insurance
8,092
5,125
Light and heat
2,505
2,505
Cleaning
8,659
8,659
Repairs and maintenance
35,809
42,454
Books toys and educational equipment
7,006
9,355
Motor expenses
10,125
10,125
Outings
13,937
24,739
Food and kitchenware
35,503
33,333
Legal and professional
8,256
10,636
Security
2,663
2,663
Profit disposal of asset
695
695
Depreciation
3,683
3,683
Support
13,355
13,859
Governance
1,320
1,320
338,281
350,105|**2021**
**£**
241,544
69,528
56,555
13,217
5,010
17,318
78,263
16,361
20,250
38,676
68,836
18,892
5,326
1,390
7,366
27,214
2,640
688,386|**2020**
**£**
238,929
93,696
66,702
28,909
8,808
4,938
57,953
15,452
17,090
18,444
79,724
2,940
78,457
-
2,166
21,866
2,700
738,774|
|---|---|---|
## **5. Governance costs**
|**Governance costs**|||
|---|---|---|
|Independent examiner's fee
Independent examiner's other fee|**2021**
**£**
540
2,160
2,700|**2020**
**£**
480
2,040|
|||2,520|
**Page 10**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Notes to the financial statements for the year ended 31 March 2021**
## **6. Employees**
## **Number of employees**
|**Number of employees**||||||
|---|---|---|---|---|---|
|The average monthly numbers of employees||**2021**||**2020**||
|during the year were:|**Number**||**Number**|||
|Teachers||34|||41|
|Office||2|||2|
|Maintenance||2|||2|
|||38|||45|
|**Employment costs**||||||
|||**2021**||**2020**||
|||**£**||**£**||
|Wages and salaries||241,544||238,292||
|Social security costs||-|||637|
|No employee received more than £60,000.||||||
## **7. Trustees' emoluments**
No trustee received remuneration, allowance for or reimbursement of expenses.
**Page 11**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Notes to the financial statements for the year ended 31 March 2021**
|**Fixtures,**
**8.**
**Tangible fixed assets**
**Plant and**
**fittings and**
**machinery**
**equipment**
**£**
**£**
**Cost**
At 1 April 2020
24,494
33,017
Additions
-
-
Disposals
-
-
At 31 March 2021
24,494
33,017
**Depreciation**
At 1 April 2020
9,604
32,867
On disposals
-
-
Charge for the year
1,488
-
At 31 March 2021
11,092
32,867
**Net book values**
At 31 March 2021
13,402
150
At 31 March 2020
14,890
150
**9.**
**Debtors**
Other debtors
**10.**
**Creditors: amounts falling due**
**within one year**
Bank overdraft
Trade creditors
Other taxes and social security costs
Other creditors
Accruals|**Motor**
**vehicles**
**£**
2,640
29,385
)
(2,640
29,385
1,250
)
(1,250
5,877
5,877
23,508
1,390
**2021**
**£**
58,674
**2021**
**£**
231
13,655
1,503
-
3,553
18,942|**Total**
**£**
60,151
29,385
)
(2,640
86,896
43,721
)
(1,250
7,365
49,836
37,060
16,430
**2020**
**£**
63,028
**2020**
**£**
-
23,143
1,608
2,000
3,220
29,971|
|---|---|---|
**Page 12**
## **TOLDOS YAAKOV YOSEF INSTITUTIONS TRUST**
## **Notes to the financial statements for the year ended 31 March 2021**
## **11. Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
Fund balances at 31 March 2021 as represented by:
Tangible fixed assets
23,657
13,403
Current assets
62,877
-
Current liabilities
)
(18,942
-
67,592
13,403|**Total**
**funds**
**£**
37,060
62,877
)
(18,942
80,995|
|---|---|
## **12. Related party transactions**
There were no related party transactions for the year ended 31 March 2021.
**Page 13**