CHARITY REGISTRATION NUMBER: 528049
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Unaudited Financial Statements
31 March 2022
ACCOUNTS & BUSINESS SOLUTIONS LIMITED
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Financial Statements
Year ended 31 March 2022
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 7 |
| Notes to the financial statements | 8 |
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Trustees' Annual Report
Year ended 31 March 2022
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.
Reference and administrative details
Registered charity name SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE Charity registration number 528049 Principal office Prince Consort Road Gateshead Tyne & Wear NE8 4DE
The trustees
G Levin M Schleider Y Mankoff
Independent examiner H Davies FCCA
Structure, governance and management
Constitution, Objects and Policies
The charity is constituted as a charitable trust and is therefore governed by a trust deed. The constitution was adopted on 25th September 1949 and amended 1st June 1949.
Objectives and activities
The charity's objectives are:
-
To promote theological and talmudical research.
-
To provide such educational facilities as will enable the students to become rabbis, minister, readers and hebrew teachers for Jewish communities
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To provide scholarships during their stay at the college for such students as require it.
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To acquire property and anything necessary for the maintenance of the institution.
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To collect the money needed for the achievement of these aims.
In the furtherance of these charitable objects, the charity is to raise funds and invite and receive from any person or persons whatsoever by way of subscription, donation and otherwise, provided that the charity does not undertake any permanent trading activities in raising funds for their charitable objects.
1
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Trustees' Annual Report (continued)
Year ended 31 March 2022
Achievements and performance
We are able to report that our students attained a high standard in their studies with many progressing to prestigious positions as Rosh Hayishivos, Rabbonim, Melamdim and communal Askonim.
During the year the charity continued its building renovation program enhancing its residential, kitchen and study areas. This has enabled the students and users to study and relax in more suitable and congenial surroundings.
The charity increased its student role during the year and currently has in excess of 110 students, furthermore educational programs have been enhanced.
The college has continued to help necessitous students pursue their studies by means of scholarships and grants.
The charity expresses its appreciation to the CST (Community Security Trust) for its support in maintaining security at the college to enable it to operate in a safe environment.
Financial review
Donations have decreased over the year. The reduction was due to a one-off building fund campaign in the previous year.
Direct charitable expenditure has increased by £155,221. This is due to reduced spending in the prior year, due to the college operating on a reduced basis due to COVID.
Governance costs have remained in line with previous years.
The trustees report a small surplus of £13,086 during the year. This reflects the efforts of the committee and volunteers who have worked hard during the year to cover the costs of the charitable activities.
Funds are available to permit the charity to continue in operation in the medium to long term and to continue to fund worthwhile projects.
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.
Investments
The charity invested in property syndicates during the year, the details of which can be found within the notes to the accounts.
The investments have provided a return of 5.3% which the trustees deem satisfactory.
Plans for future periods
The trustees plan to continue raising funds for projects in line with the trust deed and pursue those objectives and projects with all the resources available to the charity.
2
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Trustees' Annual Report (continued)
Year ended 31 March 2022
The trustees' annual report was approved on 14 November 2022 and signed on behalf of the board of trustees by:
Y Mankoff Trustee
3
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Independent Examiner's Report to the Trustees of SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Year ended 31 March 2022
I report to the trustees on my examination of the financial statements of SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE ('the charity') for the year ended 31 March 2022.
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 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 a member of the Association of Chartered Certified Accountants, 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
H Davies FCCA Independent Examiner
158 Cromwell Road Salford M6 6DE
4
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Statement of Financial Activities
Year ended 31 March 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 532,736 | 103,160 | 635,896 | 771,654 |
| Charitable activities | 5 | 84,748 | – | 84,748 | 108,081 |
| Investment income | 6 | 16,138 | – | 16,138 | 23 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 633,622 | 103,160 | 736,782 | 879,758 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 7 | 6,241 | – | 6,241 | 29,321 |
| Expenditure on charitable activities | 8,9 | 614,295 | 103,160 | 717,455 | 562,234 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 620,536 | 103,160 | 723,696 | 591,555 | |
| ================================ | ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income | 13,086 | – | 13,086 | 288,203 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Transfers between funds | 58,235 | (58,235) | – | – | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net movement in funds | 71,321 | (58,235) | 13,086 | 288,203 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 971,801 | 1,180,000 | 2,151,801 | 1,863,598 | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 1,043,122 | 1,121,765 | 2,164,887 | 2,151,801 | |
| ========================================= | ========================================= | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 18 form part of these financial statements.
5
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Statement of Financial Position
31 March 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 1,668,507 | 1,625,739 |
| Investments | 300,396 | – | |
| ----------------------------------------- | ----------------------------------------- | ||
| 1,968,903 | 1,625,739 | ||
| Current assets | |||
| Debtors | 17 | 16,436 | 15,000 |
| Cash at bank and in hand | 183,237 | 522,678 | |
| -------------------------------- | -------------------------------- | ||
| 199,673 | 537,678 | ||
| Creditors: amounts falling due within one year | 18 | 3,689 | 11,616 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 195,984 | 526,062 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total assets less current liabilities | 2,164,887 | 2,151,801 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Net assets | 2,164,887 | 2,151,801 | |
| ========================================= | ========================================= | ||
| Funds of the charity | |||
| Restricted funds | 1,121,765 | 1,180,000 | |
| Unrestricted funds | 1,043,122 | 971,801 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total charity funds | 21 | 2,164,887 | 2,151,801 |
| ========================================= | ========================================= |
These financial statements were approved by the board of trustees and authorised for issue on 14 November 2022, and are signed on behalf of the board by:
Y Mankoff Trustee
The notes on pages 8 to 18 form part of these financial statements.
6
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Statement of Cash Flows
Year ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 13,086 | 288,203 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 200 | – |
| Government grant income | – | (28,434) |
| Dividends, interest and rents from investments | (16,132) | – |
| Other interest receivable and similar income | (6) | (23) |
| Interest payable and similar charges | 472 | 1,399 |
| Accrued (income)/expenses | (6,480) | 1,371 |
| Changes in: | ||
| Trade and other debtors | (1,436) | 300,000 |
| Trade and other creditors | (1,447) | (31) |
| ---------------------------- | -------------------------------- | |
| Cash generated from operations | (11,743) | 562,485 |
| Interest paid | (472) | (1,399) |
| Interest received | 6 | 23 |
| ---------------------------- | -------------------------------- | |
| Net cash (used in)/from operating activities | (12,209) | 561,109 |
| ============================ | ================================ | |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 16,132 | – |
| Purchase of tangible assets | (42,968) | (991,499) |
| Purchases of other investments | (313,509) | – |
| Proceeds from sale of other investments | 13,113 | – |
| -------------------------------- | -------------------------------- | |
| Net cash used in investing activities | (327,232) | (991,499) |
| ================================ | ================================ | |
| Cash flows from financing activities | ||
| Government grant income | – | 28,434 |
| -------------------------------- | -------------------------------- | |
| Net cash from financing activities | – | 28,434 |
| ================================ | ================================ | |
| Net decrease in cash and cash equivalents | (339,441) | (401,956) |
| Cash and cash equivalents at beginning of year | 522,678 | 924,634 |
| -------------------------------- | -------------------------------- | |
| Cash and cash equivalents at end of year | 183,237 | 522,678 |
| ================================ | ================================ |
The notes on pages 8 to 18 form part of these financial statements.
7
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements
Year ended 31 March 2022
1. 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 Prince Consort Road, Gateshead, Tyne & Wear, NE8 4DE.
2. 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 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation 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 charity's ability to continue.
Judgements and key sources of estimation 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 under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future 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.
8
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
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 benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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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.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on 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 initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
9
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Tangible assets (continued)
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 impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying 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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 20% reducing balance
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
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.
Investment 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.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
10
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity 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.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
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SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Financial instruments (continued)
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions 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 present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 532,736 | – | 532,736 |
| Grants | |||
| Grants receivable | – | 103,160 | 103,160 |
| Government grant income | – | – | – |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 532,736 | 103,160 | 635,896 | |
| ================================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 643,505 | – | 643,505 |
| Grants | |||
| Grants receivable | – | 99,715 | 99,715 |
| Government grant income | 28,434 | – | 28,434 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 671,939 | 99,715 | 771,654 | |
| ================================ | ============================ | ================================ |
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SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Fees income | 84,748 | 84,748 | 108,081 | 108,081 | |
| ============================ | ============================ | ================================ | ================================ | ||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Income from investment properties | 16,132 | 16,132 | – | – | |
| Bank interest receivable | 6 | 6 | 23 | 23 | |
| ---------------------------- | ---------------------------- | -------------- | -------------- | ||
| 16,138 | 16,138 | 23 | 23 | ||
| ============================ | ============================ | ============== | ============== | ||
| 7. | Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and | |||||
| legacies - Donations | 6,241 | 6,241 | 29,321 | 29,321 | |
| ======================= | ======================= | ============================ | ============================ | ||
| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Provision of religious education and college facilities | 611,539 | 103,160 | 714,699 | ||
| Support costs | 2,756 | – | 2,756 | ||
| -------------------------------- | -------------------------------- | -------------------------------- | |||
| 614,295 | 103,160 | 717,455 | |||
| ================================ | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Provision of religious education and college facilities | 461,269 | 99,715 | 560,984 | ||
| Support costs | 1,250 | – | 1,250 | ||
| -------------------------------- | ---------------------------- | -------------------------------- | |||
| 462,519 | 99,715 | 562,234 | |||
| ================================ | ============================ | ================================ |
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SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
9. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding |
Support | Total funds | Total fund | |
| directly | of activities |
costs | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Provision of religious | |||||
| education and college | |||||
| facilities | 483,812 | 230,887 |
– | 714,699 | 560,984 |
| Governance costs | – | – |
2,756 | 2,756 | 1,250 |
| -------------------------------- | -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | |
| 483,812 | 230,887 |
2,756 | 717,455 | 562,234 | |
| ================================ | ================================ | ======================= | ================================ | ================================ | |
| Analysis of grants | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Grants to individuals | |||||
| Grants to individuals | 230,887 | 183,774 | |||
| -------------------------------- | -------------------------------- | ||||
| Total grants | 230,887 | 183,774 | |||
| ================================ | ================================ | ||||
| Net income | |||||
| Net income is stated after | charging/(crediting): | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 200 | – | |||
| ============== | ============== | ||||
| Independent examination fees | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination | of the financial statements | 1,250 | 1,250 | ||
| ======================= | ======================= |
10. Analysis of grants
11. Net income
12. Independent examination fees
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 127,919 | 120,278 |
| Employer contributions to pension plans | 84 | 149 |
| -------------------------------- | -------------------------------- | |
| 128,003 | 120,427 | |
| ================================ | ================================ |
The average head count of employees during the year was 17 (2021: 14).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
14
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
14. Trustee remuneration and expenses
No remuneration, directly or indirectly out of the funds of the charity, was paid or payable, to any trustee or to any persons known to be connected with any of them. No reimbursement of expenses has been made, or is due to be made, to any of the trustees in respect of the period.
15. Tangible fixed assets
| Freehold | Fixtures and | ||
|---|---|---|---|
| property | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 April 2021 | 1,624,927 | 54,028 | 1,678,955 |
| Additions | 42,968 | – | 42,968 |
| ----------------------------------------- | ---------------------------- | ----------------------------------------- | |
| At 31 March 2022 | 1,667,895 | 54,028 | 1,721,923 |
| ========================================= | ============================ | ========================================= | |
| Depreciation | |||
| At 1 April 2021 | – | 53,216 | 53,216 |
| Charge for the year | – | 200 | 200 |
| ----------------------------------------- | ---------------------------- | ----------------------------------------- | |
| At 31 March 2022 | – | 53,416 | 53,416 |
| ========================================= | ============================ | ========================================= | |
| Carrying amount | |||
| At 31 March 2022 | 1,667,895 | 612 | 1,668,507 |
| ========================================= | ============================ | ========================================= | |
| At 31 March 2021 | 1,624,927 | 812 | 1,625,739 |
| ========================================= | ============================ | ========================================= |
16. Investments
Joint property syndicates
| 2022 | |
|---|---|
| £ | |
| Capital introduced | 297,377 |
| Surplus/(Deficit) | 16,132 |
| Drawings | (13,113) |
| -------------------------------- | |
| Carried forward | 300,396 |
| ================================ |
Investments in UK investment property represents capital introduced by the charity into the syndicate plus accrued surpluses less deficiencies but without revaluing the syndicate properties. The syndicates in which the charity is a participator have borrowings that are secured on the syndicate property. The charity accounts for its syndicate investments under the equity accounting basis and thus the charity's share of the borrowings are not included in these financial statements. Valuation of the syndicate property is at fair value of the syndicate property in the opinion of the trustees. The percentage holding ranges from 1% to 10%. The trustees consider that they do not have significant influence over the operating and financial policy of the undertaking.
15
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
17. Debtors
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Other debtors | 16,436 | 15,000 |
| ============================ | ============================ | |
| Creditors: amounts falling due within one year | ||
| 2022 | 2021 | |
| £ | £ | |
| Accruals and deferred income | 3,689 | 10,169 |
| Social security and other taxes | – | 1,447 |
| ----------------------- | ---------------------------- | |
| 3,689 | 11,616 | |
| ======================= | ============================ |
18. Creditors: amounts falling due within one year
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 £84 (2021: £149).
20. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | – | 28,434 |
| ============== | ============================ |
16
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
21. Analysis of charitable funds
Unrestricted funds
| At | At | ||||
|---|---|---|---|---|---|
| 1 April 2021 | Income | Expenditure | Transfers | 31 March 22 | |
| £ | £ | £ | £ | £ | |
| General funds | 971,801 | 633,622 | (620,536) | 58,235 | 1,043,122 |
| ================================ | ================================ | ================================ | ============================ | ========================================= | |
| At | At | ||||
| 1 April 2020 | Income | Expenditure | Transfers | 31 March 21 | |
| £ | £ | £ | £ | £ | |
| General funds | 683,598 | 780,043 | (491,840) | – | 971,801 |
| ================================ | ================================ | ================================ | ============== | ================================ | |
| Restricted funds | |||||
| At | At | ||||
| 1 April 2021 | Income | Expenditure | Transfers | 31 March 22 | |
| £ | £ | £ | £ | £ | |
| Restricted Fund | 1,180,000 | 103,160 | (103,160) | (58,235) | 1,121,765 |
| ========================================= | ================================ | ================================ | ============================ | ========================================= | |
| At | At | ||||
| 1 April 2020 | Income | Expenditure | Transfers | 31 March 21 | |
| £ | £ | £ | £ | £ | |
| Restricted Fund | 1,180,000 | 99,715 | (99,715) | – | 1,180,000 |
| ========================================= | ============================ | ============================ | ============== | ========================================= | |
| Analysis of net assets between funds | |||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 634,040 | 1,034,467 | 1,668,507 | ||
| Investments | 300,396 | – | 300,396 | ||
| Current assets | 112,465 | 87,208 | 199,673 | ||
| Creditors less than 1 year | (3,689) | – | (3,689) | ||
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | |||
| Net assets | 1,043,212 | 1,121,675 | 2,164,887 | ||
| ========================================= | ========================================= | ========================================= | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 634,240 | 991,499 | 1,625,739 | ||
| Investments | – | – | – | ||
| Current assets | 349,177 | 188,501 | 537,678 | ||
| Creditors less than 1 year | (11,616) | – | (11,616) | ||
| -------------------------------- | ----------------------------------------- | ----------------------------------------- | |||
| Net assets | 971,801 | 1,180,000 | 2,151,801 | ||
| ================================ | ========================================= | ========================================= |
22. Analysis of net assets between funds
17
SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE
Notes to the Financial Statements (continued)
Year ended 31 March 2022
23. Analysis of changes in net debt
| At | |||||
|---|---|---|---|---|---|
| At | 1 | Apr 2021 | Cash flows | 31 Mar 2022 | |
| £ | £ | £ | |||
| Cash at bank and in hand | 522,678 | (339,441) | 183,237 |
||
| ================================ | ================================ | ================================ |
18