**REGISTERED CHARITY NUMBER: 802125** **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021** **FOR** ## **TOMCHEI TORAH CHARITABLE TRUST** Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH **TOMCHEI TORAH CHARITABLE TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Report of the Independent Auditors**|3 to 4| |**Statement of Financial Activities**|5| |**Balance Sheet**|6| |**Notes to the Financial Statements**|7 to 9| ## **TOMCHEI TORAH CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021** The trustees present their report with the financial statements of the charity for the year ended 5 April 2021. 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 activities** The Trustees have had regard to the Charity Commission's guidance on public benefit. The charity's objects are the relief of poverty, the advancement of education and religion and ant other charitable purpose beneficial to the community. The Trustees have unrestricted power to apply Trust funds towards these charitable objectives. ## **Significant activities** During the year a donation of £1,200,000 was made to Keren Habinyan, a school in Zurich, Switzerland in order to support their efforts to build a new facility.The trustees considered the charity's grant-making policy and are confident that the money will be used for its intended charitable purpose. The trustees will monitor progress of the construction project and its use once constructed in order to ensure that the donation is used for its intended charitable purpose. ## **Public benefit** The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grantmaking policy. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** During the year the charity made charitable grants totalling £1,245,708 (2020: £731,082). ## **Internal and external factors** The Trustees have considered the potential impact of the Covid-19 pandemic, which has been spreading since early 2020, on the Charity's activities. The Trustees have taken appropriate action to mitigate the effects of Covid-19 on the finances of the charity. ## **FINANCIAL REVIEW** ## **Reserves policy** The charity received donations in the year of 943,934 (2020: £765,880). Investment and other income generated in the year totalled £22 (2020: £9). Grants made in the year to charitable institutions totalled £1,245,708 (2020: £731,082). It is the general policy of the charity that unrestricted funds which have not been designated for a specific use are maintained at a level which the Trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity next year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity was established by a charitable trust deed on 1st September 1989. The Trustees who served during the year were: Mr I. J. Kohn Mrs S. M. Kohn Mr D. Netzer Mr I. J. Kohn is the founding trustee and he has the sole power of appointment of new trustees. The Trust's day to day activities are administered by the Trustees, as the Trust employs no staff. The Trustees who receive no remuneration for their services are solely responsible for the consideration and authorisation of the charitable grants and donations made by the Trust. The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Page 1 REPORT OF THE TRu￿EEs FOR THE YEAR ENDED S APRIL 2021 REFERENCE AND ADMINIsfRATIVE ￿AILs Re9iStered Charity number 802125 Prinupal address 49 King Ethard Road met Hertfordshire EN5 SAS Trustees MrIJKohn m￿5mKohft Mr D Netser Audltors Mr Daniel Fine, FCA Melinek Fine LLP (hartered Accourtsw First Fknor, Winston House 349 Regents Park RoBd London N3 IDH STATEMENT OF TRusfEES' RESPONSIBILITIES The tnjstees are respK)nyble for preparirvJ the Repxxt (* the Tntstees and the finarKial statements in accordance with applicable law and United Kingjom N£cwntiThJ Stsndards {UniW Generalty A￿pted Accounting pr&b￿). The law ap￿icabLe to char￿.e5 in EroLaThJ and Wales. the 0￿rIbeS 2011. (Ykirity {p£Cc￿nts and Rep)rts) Regulations 2008 and the prow$￿n5 c>f the tru* deed requires the trustee5 to p￿pa￿ finanaal statements for each financial year which 9ive a and fair view of the state of affairs of the dwnty and of the incomirv4 resol￿￿ and application of resources, including tl* income and exttndittjre, of the thrity for that In prepariThJ those finano7al statements, the tsvstees are wuired to select yjitable ￿MUnting ￿laeS a￿1 then aFvly them c(¥Lsiaenty' observe the meth(M15 and principle5 the Charity SORP; make judgements and estimates that are reaSona￿e ￿tht; state whether applicable accounting *andarts ha¥e Mlowal, ￿b]'ect to any materwl departures dI￿sed and explained in the financial statements. prepare the finanaal on ttie wng concem basi's it is 1nap[￿oprlate to presume that the thanty Mll onb.nue in bjgness. The trustrees a￿ ￿P)nsIb￿ for keerAng prO￿r accountiwj whith di9Yose with rea￿nable accuracy at any time the financial postion of the charity and to enable them to en￿￿ that ￿ financial statements cotnply with the char￿leS Art 2011, the Charfity {ACc￿ntS and Re￿ts) R￿jUlati(￿lS 2008 the pYovi5ions of the trust d*1. They are a respKJnsible safeguarding the aS￿ts of the he￿￿ ￿ takn.ng rea9Jnable steps for the prevention and deteth.on of fraud and irrgjukrrtie AA)roved by order of the tM)ard of trustses (ffi ......... . Si￿ed on ts behalf by: Nrlj hn-T **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TOMCHEI TORAH CHARITABLE TRUST** ## **Opinion** We have audited the financial statements of Tomchei Torah Charitable Trust (the 'charity') for the year ended 5 April 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). - In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 5 April 2021 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. Page 3 REPORTOFTHE INDEPENDENT AUDITORS TO THE TRUSTEES OF TOMCHEI TORAH CHARITABLE TRUST Responsibilities of trustees As explained more fully In the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of finar)cial statements that are free from material misstatement, whether due to fraud or error. In preparing the financlal ststements, the trustees ale responsible for assessbng the charlty's ability to continue as a going concern, (Jisclosing, as applicable, rnatteis related to going concern and Us￿n9 the going concem basis of accounting unless the tIU51ees either intend to liquidate the charity or to cea* operations, or have no realistic alternaty've but to do so. Our responsibilities for the audit of the financial statements We have been appointed a5 auditors under Section 144 of the Charities Act 2011 and report in accordance with the Art and relevant regulations made or having effett thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with JSAS (UK) will always detect a material m155tatement when it exists. Mlsstatements can arise from fraud or error and are considered materlal If, Individually or in the aggregate, they could reasonabSy be expected to influen the economic decisions of users taken on the basis of the￿ financial statements. A further description of our responsibilities for the audit of the financial statetnents is located on the Financial Reporting Council's website at www.frc.org.uklaudiiorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report 15 made solely to the charity's Iruslees, as a tK>dy, in accordance with Part 4 of the chariti￿ (Accounts and Reports) Regulations 2008. Our aLJdit work h35 been undertaken so that we might state to the charity's trustees those atters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not ac￿pt or assume respoT)sibility to anyone other than the charity and the charity's trustee5 a5 a bodyi for our audit work, for this report, or for the opinions we have formed. Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 IDH Date.. Page 4 ## **TOMCHEI TORAH CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
**Charitable activities**
4
Charitable activities
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**2021**
**Unrestricted**
**fund**
**£**
**1,177,482**
**22**
**1,177,504**
**1,253,531**
**(76,027)**
**338,961**
**262,934 **|2020
Total
funds
£
953,379
9
953,388
733,050
220,338
118,623
338,961| |---|---|---| The notes form part of these financial statements Page 5 TOMCHEI TORAH CIIARTfABLE TRL BALANCE SHEEr 5 APRIL 2021 2021 Unrestricted fund 2020 Totsl funds FIXED ASSErs Tangible assets 323,759 323,759 CURREKf ASSETS Debtors Cash at bank 192,750 9.240 214.658 CREDITORS Am4bnts fallirKJ due wrthin ￿ year io (70,065) (199,45S) CURRENT ASSErs 262.934 338,961 26 338961 FUNDS Unrestrkted funds 26 338 961 TOTAL FUNDS 338 961 The financral ststements ap[YO￿ ty the of TnL£tees and a￿Or1*d for issue sjn 24 J.anuary. 2022 .. and were on ts Lthlf by: MrI Kohn - Trustee nLrte5 fomi part of t￿ finanoal siatuna **TOMCHEI TORAH CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021** ## **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. ## **Financial reporting standard 102 - reduced disclosure exemptions** The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Income** All income is recognised 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. ## **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. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **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. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. DONATIONS AND LEGACIES** |Donations
Gift aid|**2021**
**£**
**943,934**
**233,548**
**1,177,482**|2020
£
765,879
187,500
953,379| |---|---|---| continued... Page 7 ## **TOMCHEI TORAH CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021** |**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
Direct
(see note
Costs
5)
£
£
Charitable activities
**3,035**
**1,245,708**
**5.**
**GRANTS PAYABLE**
Charitable activities
A summary of grants made to institutions during the year is as follows:
Name of institution
Keren Habinyan
Friends of Mir
The Sanz Foundation
Other
Total
**6.**
**SUPPORT COSTS**
Finance
£
Charitable activities
**48**|**2021**
**£**
**22**
Support
costs (see
note 6)
£
**4,788**
**2021**
**£**
**1,245,708**
Governance
costs
£
**4,740**||2020
£
9
Totals
£
**1,253,531 **
2020
£
731,082
Amount (£)
1,200,000
18,100
5,000
22,608
1,245,708
Totals
£
**4,788**| |---|---|---|---| ||||| ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 5 April 2021 nor for the year ended 5 April 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 5 April 2021 nor for the year ended 5 April 2020. continued... Page 8 **TOMCHEI TORAH CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021** ## **8. TANGIBLE FIXED ASSETS** |**COST**
At 6 April 2020 and 5 April 2021
**NET BOOK VALUE**
At 5 April 2021
At 5 April 2020
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors|**2021**
**£**
**-**
**2021**
**£**
**70,065**|Freehold
property
£
**323,759**
**323,759**
323,759
2020
£
192,750
2020
£
199,456| |---|---|---| ## **11. RELATED PARTY DISCLOSURES** At 5 April 2021 I.J. Kohn, one of the trustees, had a loan balance of £63,226 (2020: £197,357) to the charity. This loan is interest free and included in other creditors. Page 9