REGISTERED CHARITY NUMBER: 802125
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2023
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 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
TOMCHEI TORAH CHARITABLE TRUST
Report of the Trustees FOR THE YEAR ENDED 5 APRIL 2023
The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. 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.
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 £13,374 (2022: £15,530).
Internal and external factors
There were no specific factors to report.
FINANCIAL REVIEW
Reserves policy
The charity received donations and gift aid in the year of £45,476 (2022: £4,700). Investment and other income generated in the year totalled £10 (2022: £1). Grants made in the year to charitable institutions totalled £13,374 (2022: £15,530).
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
802125
Page 1
TOMCHEI TORAH CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 5 APRIL 2023
Principal address
36 Cranbourne Gardens London NW11 0HP
Trustees
Mr I J Kohn Mrs S M Kohn Mr D Netzer
Independent Examiner
Mr Daniel Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 15 January 2024 and signed on its behalf by:
Mr I J Kohn - Trustee
Page 2
Independent Examiner's Report to the Trustees of Tomchei Torah Charitable Trust
Independent examiner's report to the trustees of Tomchei Torah Charitable Trust
I report to the charity trustees on my examination of the accounts of Tomchei Torah Charitable Trust (the Trust) for the year ended 5 April 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Daniel Fine, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
18 January 2024
Page 3
TOMCHEI TORAH CHARITABLE TRUST
Statement of Financial Activities
FOR THE YEAR ENDED 5 APRIL 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 45,726 Investment income 2 10 Total 45,736 EXPENDITURE ON Charitable activities Charitable activities 15,601 NET INCOME/(EXPENDITURE) 30,135 RECONCILIATION OF FUNDS Total funds brought forward 250,091 TOTAL FUNDS CARRIED FORWARD 280,226 |
2022 Total funds £ 4,700 1 4,701 17,544 (12,843) 262,934 250,091 |
|---|---|
The notes form part of these financial statements
Page 4
TOMCHEI TORAH CHARITABLE TRUST
Balance Sheet 5 APRIL 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 323,759 CURRENT ASSETS Cash at bank 7,292 CREDITORS Amounts falling due within one year 6 (50,825) NET CURRENT ASSETS (43,533) TOTAL ASSETS LESS CURRENT LIABILITIES 280,226 NET ASSETS 280,226 FUNDS Unrestricted funds 280,226 TOTAL FUNDS 280,226 |
2022 Total funds £ 323,759 5,097 (78,765) (73,668) 250,091 250,091 250,091 250,091 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 15 January 2024 and were signed on its behalf by:
Mr I J Kohn - Trustee
The notes form part of these financial statements
Page 5
TOMCHEI TORAH CHARITABLE TRUST
Notes to the Financial Statements FOR THE YEAR ENDED 5 APRIL 2023
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. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Deposit account interest | 10 | 1 |
continued...
Page 6
TOMCHEI TORAH CHARITABLE TRUST
Notes to the Financial Statements - continued FOR THE YEAR ENDED 5 APRIL 2023
3. GRANTS PAYABLE
| Charitable activities A summary of grants made to institutions during the year is as follows: Name of institution Menorah High School for Girls Yeshiva Lezeirim Tiferes Yaacov Yeshivas Beis Dovid The Bridge Lane Beth Hamedrash Other Total |
2023 2022 £ £ 13,374 15,530 Amount (£) 4,500 4,300 2,000 1,000 1,574 13,374 |
2022 £ 15,530 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
5. TANGIBLE FIXED ASSETS
6.
| COST At 6 April 2022 and 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2023 £ 50,825 |
Freehold property £ 323,759 323,759 323,759 2022 £ 78,765 |
|---|---|---|
7. RELATED PARTY DISCLOSURES
At 5 April 2023 I.J. Kohn, one of the trustees, had a loan balance of £47,226 (2022: £72,226) to the charity. This loan is interest free and included in other creditors.
Page 7