CHARITY REGISTRATION NUMBER: 312845 Law of Truth Talmudical College Unaudited Financial Statements 31 March 2024 BRINDLEY GOLDSTEIN LIMITED Chartered accountants 103 High Street Waltham Cross Herts EN8 7AN
Law of Truth Talmudical College Financial Statements Year ended 31 March 2024 Page TTUStees' annual report Independent examiner's report to the trustees Statement of financial actNlties Statement of financial position Statement of cash flows Notes to the financial statements
Law of Truth Talmudical College Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited financial statem8nts of the charity for the year ended 31 March 2024. Reference and administrative details Registered charity name Law of Truth Talmudical College Charity registration number 312845 Principal office 31 Leadale Road London N186BZ The trustees Mrs C E Halpem Mr E Halpern Mr M Halpern Mr M Landau Independent examiner Brindley Goldstein Limited 103 High Street Waliham Cross Herts EN8 7AN stwcture, governance and management Management The charity is managed by trustees who have many years, experience in running ntreS for talmudical studies. Regular meetings are held to discuss and review the achievements. Reserves The trustees try to ensure that the charity has reserves sufficient to cover anticipated outgoings for at least one month. Rlsk control The trustees regularly examine any requests and ensure any risks are identified and systems are in place to protect the charity. Public benefit The trustees confirm that they have referred to the guidance contained in Ihe Charity Commission's general guidance on public benefrt when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. Governing document The charity is governed by its Deed of Trust dated 25th November 1965.
Law of Truth Talmudical College Trustees, Annual Report (continuedj Year ended 31 March 2024 Objectives and activities To provide a learning centre for talmudical students. Achlevements and performance The centre continued its activities enabling more students to continue their studies. Financial review Grants The charity provides scholarships and grants to serious talmudical students as well as senior scholars. Premlses The charity rents premises al a very low rent and is responsible for the upkeep including repairs. Plans for future periods The trustees plan to continue its activities in accordance with its grant making policy and to ensure that an appropriate level of reserves is maintained. The trustees. annual report was approved on 3 June 2024 and signed on behalf of the board of trustees by.. nqu.O Mr M Halpern Trustee
Law of Truth Talmudical College Independent Examiner's Report to the Trustees of Law of Truth Talmudical College Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Law of Truth Talmudical College ('the charity,) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 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 gtven by the Charity Commission under section 145(5)(b) of th8 Act. Independent examiner's statement Since the charl$ 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 l am qualified to undertake the examination because l 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 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- accounting records were not kept In respect of the charity as required by s8Ction 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 conceming the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Yrue 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. Brindley Goldstein Limited Independent Examiner 103 High Street Waltham Cross Herts EN8 7AN
Law of Truth Talmudical College ststement of Financial Activities Year ended 31 March 2024 2024 Unrestricted funds Total funds Tot81 funds 2023 Note Income and endowments Donations and legacies Total income 517,295 517,295 612,060 517,295 517,295 612,060 Expenditure Expenditure on charitable activities Total expenditure 493.555 493,555 612,507 493,555 493,555 612.507 Net incomel(expenditure) and net movement in funds 23,740 23,740 (447) Reconciliation of funds Total funds brought fonward Totsl funds carried forward 17,128 17,128 17,575 40,868 40,868 17,128 The statement of financial activiiies includes all gains and losses recognised in the year. All income and expenditure derive from continuing acliviiies. The notes on pages 7 to 10 forni part of these financial statements.
Law of Truth Talmudical College Statement of Financial Position 31 March 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 10 5,000 36,768 17,128 41,768 17,128 Creditors: amounts falling due within one year Net current assets 11 900 40,868 17,128 Total assets less current liabilities 40,868 17.128 Net assets 40,868 17.128 Funds of the charity Unrestricted funds 40,868 17,128 Total charlty funds 12 40.888 17,128 These financial statements were approved by the board of trustees and authorised for issue on 3 June 2024, and are signed on behalf of the board by.. Mr M Halper Trustee The notes on pages 7 to 10 form part of these financial statements.
Law of Truth Talmudical College Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operatlng actlvltles Net incomel{exp8nditur8) 23,740 (447) Adjustments for.. Accrued expenses 900 Ch8nges in.. Trade and other debtors (5.000) 19,640 Cash generated from operations Net cash froml(used in) operating adivities (447) (447) 19.640 Net Increasel(decrease) in cash and cash equlvalents Cash and cash equlvalents at beginnlng of year Cash and cash equlvalents at end of year 19.640 17.128 {447) 17,575 36,768 17.128 The note5 on pages 7 to 10 form part of those financial statements.
Law of Truth Talmudical College Notes to the Financial Statements Year ended 31 March 2024 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 31 Leadsle Road, London, N16 6BZ. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financlal Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP IFRS 102)} and the Charities Act 2011. Accountlng pollcles Basis of preparatlon The financial statements have been prepared on the historic81 cost basis, as modified by the revaluation of certain financial assets and liabilities and investment propertie5 measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sourc88 of estlmatlon uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable underthe circumstances. In the process of applying the entity's accounting policies no significant judgements or key sources of estimation were made by management that have any significant effect on the amounts recognised in the financial ststements. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds ar8 unrestricted funds earmarked by the trustees for particular fLrture project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds.
Law of Truth Talmudical College Notes to the Financial Statements (continued) Year ended 31 March 2024 Accountlng pollcles (contlnued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity" it is probable that the economic benefrts associated wtth the transaction will flow to the charty and the amount can be reliably measured. The following specrfic policies are applied to particular categories of income= income from donations or grants is recognised when there is evidence of entitlement to the gift, 1pt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated good5 is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value 15 derived from the cost to the donor or the estimat8d resale value. Donated facilitES and seNices are recognised in the accounts when received rf the value can be reliabty measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted seNic8. This is Classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is reccgnised 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 fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charty 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 chariiable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expendiiure on chariiable activities. All costs are allocated to expenditure categorie5 refiecting the use of the resource. Direct Costs attributable to a single activity are altocated directly to that activity. Shared costs are apportioned between the adivities they contribute to on a reasonable, justifiable and consistent basi5. Donations and legacles Unrestrict8d Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Gifts and Donations Income 517,295 517.295 612,060 612,060
Law of Truth Talmudical College Notes to the Flnancial Statements (¢ontlnue Year ended 31 March 2024 Expenditure on charitsble activities by fund type Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable activities Support costs 492.655 900 492,655 900 612.507 612,507 493.555 493,555 612.507 612,507 Expenditure on charllable activities by activity type Activities undertaken directty Support Total funds costs 2024 Total fund 2023 Charitable activities Governance costs 492,655 492.655 900 612,507 900 492,655 900 493,555 612,507 Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 900 Stsff costs The average head count of employees during the year was Nil (2023: Nil). No employee received employee benefit5 of more than £60,000 during the year (2023= Nil). Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 10. Debtors 2024 2023 Other debtors 5,000 11. Creditors: amounts falling due within one year 2024 2023 AccrLJals and deferred income 900
Law of Truth Talmudical College Notes to the Financial Statements (conlinued) Year ended 31 March 2024 12. Analysis of charitable funds Unrestrlcted funds At 31 March 20 At 1 April 2023 Income Expenditure General funds 17,128 517,295 (493,555) 40.868 At 31 March 20 23 At 1 April 2022 Income Expenditure General funds 17,575 612.060 (612,507) 17,128 13. Analysis of net assets between funds Unrestricted Totsl Funds Funds 2024 Current assels Credrtors less than 1 year Net assets 41,768 (900) 40,868 41,768 {900) 40,868 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 17.128 17,128 17,128 17,128 14. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 17,128 19,640 36,768 10