REGISTERED CHARITY NUMBER: 313836
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
THE YESHIVO HOROMO TALMUDICAL COLLEGE
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
THE YESHIVO HOROMO TALMUDICAL COLLEGE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Statement of Cash Flows | 7 | ||
| Notes to the Financial Statements | 8 | to | 14 |
THE YESHIVO HOROMO TALMUDICAL COLLEGE
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024
TRUSTEES
Rabbi E Schlesinger Rabbi M Schlesinger Rabbi E Schlesinger (appointed 1.6.25)
PRINCIPAL ADDRESS
PRINCIPAL ADDRESS 100 Fairholt Road London N16 5HN REGISTERED CHARITY 313836 NUMBER INDEPENDENT EXAMINER Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Page 1
THE YESHIVO HOROMO TALMUDICAL COLLEGE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charitable objects are:
i) to promote theological and Talmudical research and
ii) to provide educational facilities, scholarships and maintenance for any needy students.
Significant activities
The charity was set up to support and promote the educational activities of the college. These activities were undertaken for public benefit and to further the charity's objectives. The charity provided scholarships during the year under review in accordance with the charity's objectives to promote education and theological research amongst members of the Jewish faith in need of assistance in order to continue their education.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and in particular to its supplementary public benefit guidance on advancing education, when reviewing the charity's aims and objectives, and in planning future activities and setting grant making policy for the year.
Grantmaking
The trustees obtain details of all requests for assistance and ensure that good recommendations are received before any payments are made.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
During the year under review the charity received donations that amounted to £804,102 (2023: £747,786).
During the year under review the charity paid for books and provided scholarships to various students that amounted to £660,100 (2023: £595,095).
Investment performance
During the year under review the charity received rental income that amounted to £159,380 (2023: £134,228).
FINANCIAL REVIEW
Financial position
The college is reliant on donations in order to provide scholarships for students in need. The trustees are satisfied with the results of the charity for the year under review.
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income in order to meet the working capital needs and future commitments of the college.
FUTURE PLANS
There are no current plans to change the activities or modus operandi in the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Page 2
THE YESHIVO HOROMO TALMUDICAL COLLEGE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The charity has assessed the major risks to which the charity is exposed, in particular those to the operations and finances of the charity, and is satisfied systems are in place to mitigate its exposure to those risks.
Approved by order of the board of trustees on 16 October 2025 and signed on its behalf by:
Rabbi E Schlesinger - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE YESHIVO HOROMO TALMUDICAL COLLEGE
Independent examiner's report to the trustees of The Yeshivo Horomo Talmudical College
I report to the charity trustees on my examination of the accounts of The Yeshivo Horomo Talmudical College (the Trust) for the year ended 31 December 2024.
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 member of the 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
M A Venitt
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
16 October 2025
Page 4
THE YESHIVO HOROMO TALMUDICAL COLLEGE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Talmudical education Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.12.24 Unrestricted funds £ 804,102 159,380 963,482 52,929 874,795 3,240 930,964 32,518 2,216,032 2,248,550 |
31.12.23 Total funds £ 747,786 134,571 |
|---|---|---|
| 882,357 | ||
| 63,993 812,846 4,773 |
||
| 881,612 | ||
| 745 2,215,287 |
||
| 2,216,032 |
The notes form part of these financial statements
Page 5
THE YESHIVO HOROMO TALMUDICAL COLLEGE
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Investments 12 Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 14 NET ASSETS FUNDS 16 Unrestricted funds TOTAL FUNDS |
31.12.24 Unrestricted funds £ 2,954,170 40,000 38,531 78,531 (97,244) (18,713) 2,935,457 (686,907) 2,248,550 2,248,550 2,248,550 |
31.12.23 Total funds £ 2,956,865 40,000 50,600 90,600 (129,250) (38,650) 2,918,215 (702,183) 2,216,032 2,216,032 2,216,032 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 October 2025 and were signed on its behalf by:
E Schlesinger - Trustee
M Schlesinger - Trustee
The notes form part of these financial statements
Page 6
THE YESHIVO HOROMO TALMUDICAL COLLEGE
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Cash flows from operating activities Cash generated from operations 18 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of fixed asset investments Interest received Net cash provided by/(used in) investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.12.24 £ 59,530 (56,322) 3,208 - - - (15,277) (15,277) (12,069) 50,600 38,531 |
31.12.23 £ 112,033 (46,093) 65,940 (40,000) 343 (39,657) (12,561) (12,561) 13,722 36,878 50,600 |
|---|---|---|
The notes form part of these financial statements
Page 7
THE YESHIVO HOROMO TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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
All income is recognized in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when receivable.
Rental income is shown as receivable excluding VAT.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Charitable activities
Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance cost comprise all costs involving the public accountability of the charity and its compliance withregulation of good practice. The cost include costs related to statutory audit and direct governing costs.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Improvements to property - not provided Fixtures and fittings - 15% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 8
THE YESHIVO HOROMO TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 2. DONATIONS AND LEGACIES Donations and grants 3. INVESTMENT INCOME Rents received Deposit account interest 4. RAISING FUNDS Raising donations and legacies Cost of generating funds Investment management costs Property repairs Aggregate amounts 5. CHARITABLE ACTIVITIES COSTS Talmudical education 6. GRANTS PAYABLE Talmudical education |
Direct Costs £ 133,170 |
Grant funding of activities (see note 6) £ 660,100 |
31.12.24 £ 804,102 31.12.24 £ 159,380 - 159,380 31.12.24 £ 23,445 31.12.24 £ 29,484 52,929 Support costs (see note 7) £ 81,525 31.12.24 £ 660,100 |
31.12.23 £ 747,786 |
|---|---|---|---|---|
| 31.12.23 £ 134,228 343 |
||||
| 134,571 | ||||
| 31.12.23 £ 37,728 31.12.23 £ 26,265 63,993 Totals £ 874,795 |
||||
| 31.12.23 £ 595,095 |
continued...
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THE YESHIVO HOROMO TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
7. SUPPORT COSTS
| Management £ Other resources expended - Talmudical education 15,531 15,531 |
Governance Finance costs £ £ - 3,240 62,123 3,871 62,123 7,111 |
Totals £ 3,240 81,525 |
|---|---|---|
| 84,765 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
9. STAFF COSTS
10.
| Wages and salaries The average monthly number of employees during the year was as follows: Staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Talmudical education Other Total |
31.12.24 £ 119,150 119,150 31.12.24 16 |
31.12.23 £ 132,452 132,452 31.12.23 16 Unrestricted funds £ 747,786 134,571 |
|---|---|---|
| 882,357 | ||
| 63,993 812,846 4,773 |
||
| 881,612 |
continued...
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THE YESHIVO HOROMO TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 11. TANGIBLE FIXED ASSETS COST At 1 January 2024 and 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 12. CURRENT ASSET INVESTMENTS Unlisted investments |
Freehold property £ 2,100,000 - - - 2,100,000 2,100,000 |
Improvements to property £ 838,906 - - - 838,906 838,906 |
Fixtures and fittings £ 186,199 168,240 2,695 170,935 15,264 17,959 31.12.24 £ 40,000 |
Unrestricted funds £ 745 2,215,287 |
|
|---|---|---|---|---|---|
| 2,216,032 | |||||
| Totals £ 3,125,105 168,240 2,695 170,935 2,954,170 2,956,865 31.12.23 £ 40,000 |
|||||
continued...
Page 11
THE YESHIVO HOROMO TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 £ Other creditors 97,244 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.24 £ Bank loans (see note 15) 650,804 Other creditors 36,103 686,907 15. LOANS An analysis of the maturity of loans is given below: 31.12.24 £ Amounts falling due between two and five years: Other loans - 2-5 years 36,103 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 217,131 Repayable otherwise than by instalments: Bank loans 433,673 16. MOVEMENT IN FUNDS Net movement At 1.1.24 in funds £ £ Unrestricted funds General fund 2,216,032 32,518 TOTAL FUNDS 2,216,032 32,518 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 963,482 (930,964) TOTAL FUNDS 963,482 (930,964) |
31.12.23 £ 129,250 31.12.23 £ 662,202 39,981 702,183 31.12.23 £ 39,981 228,529 433,673 At 31.12.24 £ 2,248,550 2,248,550 Movement in funds £ 32,518 32,518 |
|---|---|
continued...
Page 12
THE YESHIVO HOROMO TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 2,215,287 2,215,287 |
Net movement in funds £ 745 745 |
At 31.12.23 £ 2,216,032 |
|---|---|---|---|
| 2,216,032 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 882,357 882,357 |
Resources Movement expended in funds £ £ (881,612) 745 (881,612) 745 |
Resources Movement expended in funds £ £ (881,612) 745 (881,612) 745 |
|---|---|---|---|
| 745 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 2,215,287 2,215,287 |
Net movement in funds £ 33,263 33,263 |
At 31.12.24 £ 2,248,550 |
|---|---|---|---|
| 2,248,550 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,845,839 | (1,812,576 ) | 33,263 |
| TOTAL FUNDS | 1,845,839 | (1,812,576 ) | 33,263 |
continued...
Page 13
THE YESHIVO HOROMO TALMUDICAL COLLEGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
17. RELATED PARTY DISCLOSURES
During the period the charity received £84,833 in donations from Tevini. The charity and Tevini share a common trustee.
18. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Interest paid Decrease in debtors (Decrease)/increase in creditors Net cash provided by operations |
31.12.24 £ 32,518 2,696 - 56,322 - (32,006) 59,530 |
31.12.23 £ 745 3,169 (343) 46,093 40,000 22,369 112,033 |
|---|---|---|
19. ANALYSIS OF CHANGES IN NET DEBT
| At 1.1.24 | Cash flow | At 31.12.24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 50,600 | (12,069) | 38,531 |
| 50,600 | (12,069) | 38,531 | |
| Liquid resources | |||
| Deposits included in cash | - | - | - |
| Current asset investments | 40,000 | - | 40,000 |
| 40,000 | - | 40,000 | |
| Debt | |||
| Debts falling due after 1 year | (702,183) | 15,276 | (686,907) |
| (702,183) | 15,276 | (686,907) | |
| Total | (611,583) | 3,207 | (608,376) |
Page 14