CHARITY REGISTRATION NUMBER: 312232
TREE OF LIFE TALMUDICAL COLLEGE
UNAUDITED FINANCIAL STATEMENTS
31 DECEMBER2023
COHEN ARNOLD
Chartered accountants
New Burlington House
1075 Finchley Road
London
NWII OPU

TREE OF LIFE TALMUDICAL COLLEGE
FIIYANCIAL STATEMENrs
YEAR ENDED 31 DECEMBER 2023
PAGE
Trustees, annual report
Independent examiner's report to the trustees
Statement of financial activities
Statement of financial position
Notes to the financial statements

TREE OF LIFE TALMUDICAL COLLEGE
TRUSTEES, ANNUAL REPORT
YEAR EIYDED 31 DECEMBER 2023
The trustees present their report and the unaudited financial statements of the charity for the year
ended 31 December 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name
Charity registration number
Principal olTice
Tree of Life Talmudical Colleg¢
312232
85 Bridge Lane
London
NWII OEE
THE TRUSTEES
Rabbi S I Freshwater
Mr D Rabson
Rabbi A Weisz
Independent Examiner
David Goldberg FCA DChA
New Burlington House
1075 Finchley Road
London
NWI I OPU
STRUCTURE. GOVERIYANCE AND MANAGEMENT
The charity is an unincorporated charity registered with the Charity Commission (Registration No.
312232. The charity is governed by a declaration of tr￿St dated 13 July 1913, as amended on 18
January 1970.
The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial
interest in the charity.
It is not cuffently the intention of the trustees of the charity to appoint new trustees. Should the
situation change in the future, the trustees will apply suitable recruitment training procedures.
OBJECTIVES AND ACTIVITIES
The charity is established to teach its pupils the written & oral Torah (Jewish faith) & to inspire them
with ethical character.
The trustees established a synagogue at 83 Bridge Lane providing facilities for prayer, religious
studies and communal activities.
The Tree of Life College (also known as Etz Chaim Yeshiva) has, during the year, continued to carry
out its charitable objects (as it has done since 1903) by facilitatlng Talmudic study at its premises and
providing a library and religious appurtenances for that purpose. In addition, the presence of scholars
of Talmudic distinction in ils premises has enhanced the quality of Torah study. Furtherniore, the
college has continued to provide assistsnce to students of Talmud by way of scholarships. The college,
its library and synagogue (services of which are open to the public) have continued to operate
throughout the day and late into the evening and continue to be utilised by persons interested in the
use of its facilities for the study of Talmud. Students have, during the year, taken part in programmes
of Tallnudic lectures in subjects which also attracted significant numbers of members of the
community.

TREE OF LIFE TALMUDICAL COLLEGE
TRUSTEES, ANNUAL REPORT (
eonilllued)
YEAR ENDED 31 DECEMBER 2023
ftonil#itedJ
The charity raises funds from individuals and other charitable organisations. Income is also received
from its investment properties.
The trustees confirni that they have referred to the guidance contained in the Charity Commission's
general guidance on public benefit when reviewing the charity's aims and objectives and in planning
future activities and setting the grant making policy for the year.
ACHIEVEMENTS AND PERFORMANCE
During the year, the charity continued its charitable activities in support of its objects and has reported
expenditure of £228,231 (2022: £206,099) providing for talmudical study at its premises and
scholarships to students.
FINANCIAL REVIEW
The financial results of the charity's activities for the year 31 December 2023 are fully reflected in the
attached financial statements together wilh the notes thereon.
Reserve Pollcy
It is the policy of the charity to maintain unreslricted funds, at a level which the trustees think
appropriate, after considering the future commilments of the charity and the likely costs of the charity
for the next year.
As at 31 D￿ernber 2023 the charity has total funds of £1,624,471, all of which are free reserves.
Investment Policy
The charity has the power to make any investment, which the trustees consider appropriate. The
trustees regularly review the charity's position and needs in respect of the investment policy.
Principal risks and uncertainties
The trustees have identified and reviewed the major risks to which the charity is exposed, in particular
those related to the operatio￿8 and finance of the charity, and are satisfied that systems are in place to
manage those risks.
PLANS FOR FUTURE PERIODS
The trustees plan to continue to
vide for the facilitating of talmudic study and prayer.
The trustees, annual repo
was approved on 9 October 2024 and signed on behalf of the board of
trustees by:
RABBI S I FRESHWATER
Trustee

TREE OF LIFE TALMUDICAL COLLEGE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TREE OF LIFE
TALMUDICAL COLLEGE
YEAR ENDED 31 DECEMBER 2023
I report to the trustees on my examination of the financial statements of Tree of Life Talmudical
College ('the charity,) for the year ended 31 December 2023.
RESPONSIBILITIES AND BASIS OF REPORT
As the truslees of the charity you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Aci 2011 ('the Act,).
I report in respect of my examination of the charity's financial statements 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 confimi that l am qualified to undertake the examination because I
am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one
of the listed bodies.
I have completed my examination. I confinn that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by seclion 130 of the
Act; or
the financial statements do not accord with those records: or
the financial statements do not comply with the applicable requirements concerning the
forni and content of accounts set out in the Charities (Accounls and Reports) Regulations
2008 other than any requirement thal the accounts give a 'true and fair, view which is not a
matter considered &$ part of an independent examination.
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 underslanding of the
a¢counts io be reached.
DA
LDBERG FCA DCHA
ependenl Examiner
New Burlington House
1075 Finchley Road
London
NWII OPU

TREE OF LIFE TALMUDICAL COLLEGE
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2023
2023
Unrestricted
funds Total funds Total funds
2022
Note
INCOME AND ENDOWMENTS
Donations
Investment income
272.552
23,846
272,552
23,846
210.309
19.614
TOTAL INCOME
296,398
296,398
229,923
EXPENDITURE
Expenditure on raising ￿nds.
Costs of raising donations
Investment management costs
Expenditure on charitable activities
TOTAL EXPENDITURE
(600)
(600)
(4,971)
(2,218)
(2,218)
(7,792)
(228,231) (228,231) (210,929)
(231,049) (231,049) (223,692)
Net income and net movement In funds
65,349
65,349
6,231
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
1,559,122
1,559,122
1,624,471
1,552,891
1,559,122
1,624,471
The statement of financial aclivities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 6 to 12 forni part of th¢s¢ financial statements.

TREE OF LIFE TALMUDICAL COLLEGE
STATEMENT OF FINANCIAL POSITION
31 DECEKBER 2023
2023
2022
Note
FIXED ASSETS
Tangible fixed assets
Investments
15
16
16,914
1,446,500
16,914
1.446.5(X)
1,463,414
1,463,414
CURRENT ASSETS
Debtors
Cash at bank and in hand
17
27.970
137,887
11,342
89,166
165,857
100,508
CREDITORS: amounts falling due
within one year
NET CURRENT ASSETS
18
(4,800)
(4,800)
161,057
95,708
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,624,471
1,624,471
1,559,122
1.559,122
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted funds
1.624.471
1,559,122
1,559,122
TOTAL CHARITY FUNDS
20
1,624,471
These financial statements were approved by the board of trustees and authorised for issue on 9
October 2024, and are signed on behalf of the board by:
RABBI S I FRESH
Trustee
TER
RABBI A WEISZ
Trusfre
The notes page5 6 10 12 form part of these fingncial 5ta¢emeDt&

TREE OF LIFE TALTrtUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
GENERAL INFORMATION
The charity is a public benefit entity and a registered charity in England and Wales and is
unincorporated. The address of the principal office is 85 Bridge Lane, London, NW I I OEE.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Stalement 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) (Charities
SORP (FRS 102)) and the Charities Act 2011.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on ihe historical cost basis. as modified by the
revalualion of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the clwity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estiTnates
and assumptions that affect the amount5 reported. These estimates and judgements are
continually reviewed and are based on experience and other faclors, including expectations of
future events that are believed to be reasonable under the circumstances.
Judgements made by the trustees in the application of these accounting policies that have
significant effect on the financial statements and estimates with a significant risk of material
adjustment in the next year are as follows:
Property valuatlon
The valuation of the charity's investmeni properties is inherently subjective, depending on many
factors, including the individual nature of each property, its location and expected future net
rental values, market yields and comparable market transactions. Therefore the valuations are
subject to a degree of uncertainty and are made on the basis of assumptions which may not prove
to be accurate, particularly in periods of difficult market or economic conditions.
Fund ac¢ounting
Unrestricted funds are available for use at the discretion of the trustee5 to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
ommitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the ternis of an appeal. and fall into one of two sub-classes: restricted income funds or
endowment funds.

TREE OF LIFE TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (eo
IlnuÉd)
YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES (eomilftued)
Incoming resources
All income is included in the statement of financial artivities when entitlement has passed to the
charity, it is probable that the economic benefits associated with the transaction will flow to the
charity and the amount can be reliably measured.
Income from donations or grants is recognised when there is evidenc¢ of entitlement to the gift
receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates:
Expenditure on raising funds includes the costs of all fundrdising activities, events, noncharitable
trading activities, and the sale of donaled goods.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are inilially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairnient losses. Any tangible assets carried at revalued amounts
are recorded at the fair value at the date of revaluation less any subsequent arxumulated
depreciation and subsequent accumulated impainnent losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses. unless it reverses a charge for impainnent thal has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carryTng
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair
value. If fair value cannot be reliably measured, assets are me&sured at cost less impainnent.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly
attributable expenditure.

TREE OF LIFE TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (coftlinued)
YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES (colllinued)
Investment property (colllinH¢d)
Inveslment property is revalued to its fair value at each reporting date and any changes in fair
value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item
of investment property, it shall be transferred to tangible assets and treated as such until it is
expected that fair value will be reliably measurable on an on-going basis.
Financial inslruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the
contractual Provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs, unless the arrangement constitutes a financing Iransaction, where it
is recognised at the present value of the future payments discounted at a market rate of interest
for a similar debt instrument.
Current assets and current liabilities are subs4uently measured at the cash or other consideration
expeded to k paid or received and not discounted.
Debt instruments are subs4uently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid conlribulions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted presenl value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
DONATIONS
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
DONATIONS
Donations
272,552
272.552
210,309
210,309
INVESTMENT INCOME
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Income from investment properties
23,846
23,846
19,614
19,614

TREE OF LIFE TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (con¢1n￿edJ
YEAR ENDED 31 DECEMBER 2023
COSTS OF RAISING DONATIONS
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Costs of raising donations
600
600
4,971
4,971
INVESTMENT MANAGEMENT COSTS
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Investment management costs
2,218
2.218
7,792
7,792
EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Provision of synagogue facilities for
prayer, religious sludies and
communal use
Grants and scholarships
Support cos15
12.890
210,540
4.801
12,890
210,540
4,801
5,545
200,554
4,830
5,545
200,554
4,830
228,231
228,231
210,929
210,929
EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Activities
undertaken
directly Support costs
Total funds
2023
Total fund
2022
Provision of synagogue facilities for
prayer, religious studies and
communal use
Grants and scholarships
Governance Costs
12,890
210,540
12,890
210,540
4,801
5,545
200,554
4,830
4,801
223,430
4,801
228,231
210,929
10. ANALYSIS OF SUPPORT COSTS
Accounlancy
fees Totsl 2023 Total 2022
Governance costs
4.800
4.800
4,830

TREE OF LIFE TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (coMlih&ed)
YEAR ENDED 31 DECEMBER 2023
11. ANALYSIS OF GRANTS
2023
2022
GRANTS TO INSTITUTIONS
ETC Youth Ltd
The Jewish Home
Etz Chaim Shul
Friends of Tiferes Ltd
String of Pearls
21,150
i 0.000
5,500
4,500
2,500
500
43,650
500
GRANTS TO INDIVIDUALS
Scholarships to individuals
Total grants
166,890
200,054
200,554
210,540
12. INDEPENDENT EXAMINATION FEES
2023
2022
Fees payable to the independent examiner for:
Independent examination of the financial stst¢ments
4.800
4.800
13. STAFF COSTS
The total staff costs and employee benefits for the reporting period are analysed as follows:
2023
2022
Wages and salaries
Employer contributions to pension plans
6,209
302
1,079
302
6,511
1,381
The average head count of employees during the year was 2 (2022: 2).
No employee received employee benefits of more than £60,000 during the year (2022.. Nil).
14. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits from employment with the charity OT a related entity were
received by the tr￿tees.
The charity did not meet any expenses incurred by the trustee for services provided to the charity
(2022: £Nil)
io

TREE OF LIFE TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS {conÉ
inued)
YEAR ENDED 31 DECEMBER 2023
15. TANGIBLE FIXED ASSETS
Freehold
property
Cost
At l January 2023 and 31 December 2023
Carrying amount
At 31 December 2023
16,914
16,914
16,914
At 31 December 2022
The trustees are of the opinion that the open market value of the p￿miseS is at least equal to its
catrying value in the accounts.
I& I]YVESTMENTS
Investment
properties
Cost or valuation
At l January 2023 and 31 December 2023
Impairment
At l January 2023 and 31 December 2023
Carrying amount
At 31 December 2023
1,446,500
1,446,500
At 31 December 2022
1,446,500
All investments shown above are held at valuation.
Investment propertles
The investment properties are stated at trustees, valuation as at 31 December 2023, based on
RICS qualified valuations carried out in 2019 and post balance sheet date.
The historical cost of the investment properties at 31 December 2023 is £28,548.
17. DEBTORS
2023
2022
Trade debtors
Other debtors
1.034
26.936
796
10,546
11,342
27,970
18. CREDITORS: amounts falling due within one year
2023
2022
Accruals and deferred income
4,8(M)
4,800

TREE OF LIFE TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (eonrfnued)
YEAR ENDED 31 DECEMBER 2023
19. PENSIONS AND OTHER POST RETIREMENT BENEFITS
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £302 (2022: £302).
20. ANALYSIS OF CHARITABLE FUNDS
Unrestricted fund5
At
l January
2023
At
31 December
2023
Income Exi)enditure
General funds
,559.122
296,398
(231,049) 1,624,471
At
l January
2022
At
31 December
2022
Income Expenditure
General funds
1,552,891
229,923
(223,692) 1,559,122
21. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Investments
Current assels
Creditors less than l year
Net gssets
16.914
1,446,5(Kl
165,857
(4,800)
1,624,471
16,914
1,446,500
165,857
(4,800)
1,624,471
Unrestricted Total Funds
Funds
2022
Tangible fixed assets
Investments
Current assets
Creditors less than l year
Net assets
16,914
1,446,500
100,508
(4,800)
1,559,122
16,914
1,446,500
100,508
(4,800)
1,559,122
22. RELATED PARTIES
There were no related party transactions in the year under review.
12