2023-03-31-accounts

CHARITY REGISTRATION NUMBER: 528049

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Unaudited Financial Statements

31 March 2023

WHITESIDE AND DAVIES LTD

Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Financial Statements

Year ended 31 March 2023

	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 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

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:

1. To promote theological and talmudical research.

2. To provide such educational facilities as will enable the students to become rabbis, minister, readers and hebrew teachers for Jewish communities

3. To provide scholarships during their stay at the college for such students as require it.

4. To acquire property and anything necessary for the maintenance of the institution.

5. 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 2023

Achievements and performance

As we reflect upon the past year, the Yeshiva is proud to present our annual report showcasing the remarkable achievements and milestones that have shaped our institution. Through unwavering commitment to excellence in education, community engagement, and spiritual development, we have continued to make significant strides in fulfilling our mission:

Spiritual Development.

Religious Studies Programs:

1. Enriched religious studies programs to deepen students understanding of their faith and heritage.

2. Hosted renowned scholars and religious leaders to provide spiritual guidance and insight.

Campus Facilities:

1. Upgraded and expanded campus facilities to provide a more comfortable and conducive learning environment.

2. Implemented eco-friendly initiatives to contribute to sustainability efforts.

The college has continued to help necessitous students pursue their studies by means of scholarships and grants.

Looking Ahead:

As we celebrate the accomplishments of the past year, Sunderland Jewish boys hostel and talmudical college remains committed to continuous improvement and the pursuit of excellence. Looking ahead, we are excited about the opportunities for further growth, collaboration, and impact on the lives of our students and the broader community.

We extend our gratitude to the entire Yeshiva community-students, faculty, staff, donors, and supporters-for their dedication and contributions to our shared success. Additionally, 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 increased over the year by £82,249.

Direct charitable expenditure has increased by £32,277. This is due to rising prices in particular for food.

Governance costs have remained in line with previous years.

The trustees report a surplus of £68,676 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.

2

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Trustees' Annual Report (continued)

Year ended 31 March 2023

Financial review (continued)

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 7.86% 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.

The trustees' annual report was approved on 5 December 2023 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 2023

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 2023.

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:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. 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 2023

			2023		2022
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	612,685	105,460	718,145	635,896
Charitable activities	5	74,059	–	74,059	84,748
Investment income	6	33,082	–	33,082	16,138
		--------------------------------	--------------------------------	--------------------------------	--------------------------------
Total income		719,826	105,460	825,286	736,782
		================================	================================	================================	================================
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies	7	6,878	–	6,878	6,241
Expenditure on charitable activities	8,9	744,132	5,600	749,732	717,455
		--------------------------------	--------------------------------	--------------------------------	--------------------------------
Total expenditure		751,010	5,600	756,610	723,696
		================================	================================	================================	================================
		--------------------------------	--------------------------------	--------------------------------	--------------------------------
Net income and net movement in	funds	(31,184)	99,860	68,676	13,086
		================================	================================	================================	================================
Reconciliation of funds
Total funds brought forward		1,043,122	1,121,765	2,164,887	2,151,801
		-----------------------------------------	-----------------------------------------	-----------------------------------------	-----------------------------------------
Total funds carried forward		1,011,938	1,221,625	2,233,563	2,164,887
		=========================================	=========================================	=========================================	=========================================

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 2023

		2023	2022
	Note	£	£
Fixed assets
Tangible fixed assets	15	1,668,507	1,668,507
Investments	16	418,818	300,396
		-----------------------------------------	-----------------------------------------
		2,087,325	1,968,903
Current assets
Debtors	17	15,237	16,436
Cash at bank and in hand		168,390	183,237
		--------------------------------	--------------------------------
		183,627	199,673
Creditors: amounts falling due within one year	18	37,389	3,689
		--------------------------------	--------------------------------
Net current assets		146,238	195,984
		-----------------------------------------	-----------------------------------------
Total assets less current liabilities		2,233,563	2,164,887
		-----------------------------------------	-----------------------------------------
Net assets		2,233,563	2,164,887
		=========================================	=========================================
Funds of the charity
Restricted funds		1,221,625	1,121,765
Unrestricted funds		1,011,938	1,043,122
		-----------------------------------------	-----------------------------------------
Total charity funds	20	2,233,563 =========================================	2,164,887 =========================================

These financial statements were approved by the board of trustees and authorised for issue on 5 December 2023, 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 2023

	2023	2022
	£	£
Cash flows from operating activities
Net income	68,676	13,086
Adjustments for:
Depreciation of tangible fixed assets	–	200
Dividends, interest and rents from investments	(32,942)	(16,132)
Other interest receivable and similar income	(140)	(6)
Interest payable and similar charges	668	472
Accrued expenses/(income)	700	(6,480)
Changes in:
Trade and other debtors	1,199	(1,436)
Trade and other creditors	33,000	(1,447)
	----------------------------	----------------------------
Cash generated from operations	71,161	(11,743)
Interest paid	(668)	(472)
Interest received	140	6
	----------------------------	----------------------------
Net cash from/(used in) operating activities	70,633	(12,209)
	============================	============================
Cash flows from investing activities
Dividends, interest and rents from investments	32,942	16,132
Purchase of tangible assets	–	(42,968)
Purchases of other investments	(148,027)	(313,509)
Proceeds from sale of other investments	29,605	13,113
	--------------------------------	--------------------------------
Net cash used in investing activities	(85,480)	(327,232)
	================================	================================
Net decrease in cash and cash equivalents	(14,847)	(339,441)
Cash and cash equivalents at beginning of year	183,237	522,678
	--------------------------------	--------------------------------
Cash and cash equivalents at end of year	168,390	183,237
	================================	================================

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 2023

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 2023

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:

• 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.

• legacy income is recognised when receipt is probable and entitlement is established.

• 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.

• 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:

• 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 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.

• 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 2023

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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

10

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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.

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.

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.

11

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Financial instruments (continued)

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.

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	Total Funds
	Funds	Funds		2023
	£	£		£
Donations
Donations	612,685	5,600		618,285
Grants
Grants receivable	–	99,860		99,860
	--------------------------------	--------------------------------		--------------------------------
	612,685	105,460		718,145
	================================	================================		================================

12

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Notes to the Financial Statements (continued)

Year ended 31 March 2023

4. Donations and legacies (continued)

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
			£	£	£
	Donations
	Donations		532,736	–	532,736
	Grants
	Grants receivable		–	103,160	103,160
			--------------------------------	--------------------------------	--------------------------------
			532,736	103,160	635,896
			================================	================================	================================
5.	Charitable activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Fees income	74,059	74,059	84,748	84,748
		============================	============================	============================	============================
6.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Income from investment properties	32,942	32,942	16,132	16,132
	Bank interest receivable	140	140	6	6
		----------------------------	----------------------------	----------------------------	----------------------------
		33,082	33,082	16,138	16,138
		============================	============================	============================	============================
7.	Costs of raising donations and legacies
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Costs of raising donations and
	legacies - Donations	6,878	6,878	6,241	6,241
		=======================	=======================	=======================	=======================

13

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Notes to the Financial Statements (continued)

Year ended 31 March 2023

8. Expenditure on charitable activities by fund type

				Unrestricted	Restricted	Total Funds
				Funds	Funds	2023
				£	£	£
Provision of religious education and college facilities				741,293	5,600	746,893
Support costs				2,839	–	2,839
				--------------------------------	-----------------------	--------------------------------
				744,132	5,600	749,732
				================================	=======================	================================
				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
				================================	================================	================================
Expenditure on charitable activities		by activity type
	Activities
	undertaken	Grant funding		Support	Total funds	Total fund
	directly	of activities		costs	2023	2022
	£		£	£	£	£
Provision of religious
education and college
facilities	535,176	211,717		–	746,893	714,699
Governance costs	–		–	2,839	2,839	2,756
	--------------------------------	--------------------------------		-----------------------	--------------------------------	--------------------------------
	535,176	211,717		2,839	749,732	717,455
	================================	================================		=======================	================================	================================
Analysis of grants
					2023	2022
					£	£
Grants to individuals
Grants to individuals					206,117	230,887
Restricted grants to individuals					5,600	–
					--------------------------------	--------------------------------
					211,717	230,887
					--------------------------------	--------------------------------
Total grants					211,717	230,887
					================================	================================
Net income
Net income is stated after charging/(crediting):
					2023	2022
					£	£
Depreciation of tangible fixed assets					– ==============	200 ==============

9. Expenditure on charitable activities by activity type

10. Analysis of grants

11. Net income

14

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Notes to the Financial Statements (continued)

Year ended 31 March 2023

12. Independent examination fees

	2023	2022
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	1,250 =======================	1,250 =======================

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2023	2022
	£	£
Wages and salaries	135,264	127,919
Employer contributions to pension plans	–	84
	--------------------------------	--------------------------------
	135,264	128,003
	================================	================================

The average head count of employees during the year was 17 (2022: 17).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

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 2022 and 31 March 2023	1,667,895	54,028	1,721,923
	=========================================	============================	=========================================
Depreciation
At 1 April 2022 and 31 March 2023	–	53,416	53,416
	=========================================	============================	=========================================
Carrying amount
At 31 March 2023	1,667,895	612	1,668,507
	=========================================	============================	=========================================
At 31 March 2022	1,667,895	612	1,668,507
	=========================================	============================	=========================================

15

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Notes to the Financial Statements (continued)

Year ended 31 March 2023

16. Investments

	Joint
	property
	syndicates
	£
Cost or valuation
At 1 April 2022	300,396
Additions	115,085
Acquisitions through business combinations	32,942
Disposals	(29,605)
	--------------------------------
At 31 March 2023	418,818
	================================
Impairment
At 1 April 2022 and 31 March 2023
Carrying amount
At 31 March 2023	418,818
	================================
At 31 March 2022	300,396
	================================

All investments shown above are held at valuation.

Joint property syndicates

	2023
	£
Brought forward	300,396
Capital introduced	115,085
Surplus/(Deficit)	32,942
Drawings	(29,605)
	--------------------------------
Carried forward	418,818
	================================

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.

17. Debtors

	2023	2022
	£	£
Other debtors	15,237	16,436
	============================	============================

16

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Notes to the Financial Statements (continued)

Year ended 31 March 2023

18. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	4,389	3,689
Other creditors	33,000	–
	----------------------------	-----------------------
	37,389	3,689
	============================	=======================

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 £Nil (2022: £84).

20. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At				At
	1 April 2022	Income	Expenditure	Transfers	31 March 23
	£	£	£	£	£
General funds	1,043,122	719,826	(751,010)	–	1,011,938
	=========================================	================================	================================	==============	=========================================
	At				At
	1 April 2021	Income	Expenditure	Transfers	31 March 22
	£	£	£	£	£
General funds	971,801	633,622	(620,536)	58,235	1,043,122
	================================	================================	================================	============================	=========================================
Restricted funds
	At				At
	1 April 2022	Income	Expenditure	Transfers	31 March 23
	£	£	£	£	£
Restricted Fund	1,121,765	105,460	(5,600)	–	1,221,625
	=========================================	================================	=======================	==============	=========================================
	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
	=========================================	================================	================================	============================	=========================================

17

SUNDERLAND JEWISH BOYS HOSTEL AND TALMUDICAL COLLEGE

Notes to the Financial Statements (continued)

Year ended 31 March 2023

21. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Tangible fixed assets	634,040	1,034,467	1,668,507
Investments	418,818	–	418,818
Current assets	96,419	87,208	183,627
Creditors less than 1 year	(37,389)	–	(37,389)
	-----------------------------------------	-----------------------------------------	-----------------------------------------
Net assets	1,111,888	1,121,675	2,233,563
	=========================================	=========================================	=========================================
	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
	=========================================	=========================================	=========================================
Analysis of changes in net debt
			At
	At 1 Apr 2022	Cash flows	31 Mar 2023
	£	£	£
Cash at bank and in hand	183,237	(14,847)	168,390
	================================	============================	================================

22. Analysis of changes in net debt

18