**REGISTERED CHARITY NUMBER: 802390**
## **TORAH TEMIMAH TRUST**
**REPORT OF THE TRUSTEES AND**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
## **TORAH TEMIMAH TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
||**Page**||
|---|---|---|
|**Reference and Administrative Details**|1||
|**Report of the Trustees**|2||
|**Independent Examiner's Report**|3||
|**Statement of Financial Activities**|4||
|**Balance Sheet**|5||
|**Notes to the Financial Statements**|6 to|10|
## **TORAH TEMIMAH TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2022**
## **TRUSTEES**
**TRUSTEES** M M Bernath E Bernath A Grunfeld **PRINCIPAL ADDRESS** 16 Reizel Close Stoke Newington London N16 5GY **REGISTERED CHARITY** 802390 **NUMBER INDEPENDENT EXAMINER** Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS **BANKERS** TSB Bank plc 174 Clapton Common London E5 9AQ
Page 1
## **TORAH TEMIMAH TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
The information is shown on page 1 of the financial statements and forms part of this report.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity's objectives are the advancement of Orthodox Jewish religious education, and promote the Orthodox Jewish religion as the trustees shall time to time determine. The charity makes grants and in particular assisting a school in Jerusalem.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
## **FINANCIAL REVIEW**
## **Achievement and performance**
The trustees are satisfied with the results of the year. There was a reduction in donations received although there was an increase in grantmaking leaving a deficit for the year.
## **Reserves policy**
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £150,694 (2021- £155,263).
## **FUTURE PLANS**
The charity plans to continue its activities for the foreseeable future subject to satisfactory income.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Charity constitution**
The charity is constituted and governed by Declaration of Trust dated 30th October 1989.
## **Recruitment and appointment of new trustees**
The power to appoint new trustees is vested in the board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
## **Risk management**
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
Approved by order of the board of trustees on 8 March 2023 and signed on its behalf by:
M M Bernath - Trustee
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TORAH TEMIMAH TRUST**
## **Independent examiner's report to the trustees of Torah Temimah Trust**
I report to the charity trustees on my examination of the accounts of Torah Temimah Trust (the Trust) for the year ended 31 October 2022.
## **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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
E Meyer FCA BSc Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
8 March 2023
Page 3
## **TORAH TEMIMAH TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022**
|**2022**
**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
26,801
Investment income
2
6,977
**Total**
33,778
**EXPENDITURE ON**
Raising funds
3
740
**Charitable activities**
4
Charitable activities
34,260
**Total**
35,000
**NET INCOME/(EXPENDITURE)**
(1,222)
**RECONCILIATION OF FUNDS**
Total funds brought forward
151,916
**TOTAL FUNDS CARRIED FORWARD**
150,694|**2021**
**Total**
**funds**
**£**
42,492
9,960
52,452
920
59,250
60,170
(7,718)
159,634
151,916|
|---|---|
The notes form part of these financial statements
Page 4
## **TORAH TEMIMAH TRUST**
## **BALANCE SHEET 31 OCTOBER 2022**
|**Notes**
**FIXED ASSETS**
Investment property
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|**2022**
**Total**
**funds**
**£**
126,549
1,871
23,174
25,045
(900)
24,145
150,694
150,694
150,694
150,694|**2021**
**Total**
**funds**
**£**
126,549
540
25,787
26,327
(960)
25,367
151,916
151,916
151,916
151,916|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 March 2023 and were signed on its behalf by:
M M Bernath - Trustee
The notes form part of these financial statements
Page 5
**TORAH TEMIMAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
## **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, as modified by the revaluation of certain assets.
## **Judgements and key sources of estimation uncertainty**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The valuation of investment properties is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore, the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
## **Income**
Donations are included in full in the Statement of Financial Activities when received.
## **Expenditure**
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Grants are only recognised in the accounts when paid.
Raising funds comprise the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
Page 6
## **TORAH TEMIMAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022**
|**2.**
**INVESTMENT INCOME**
Rental income
**3.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**4.**
**CHARITABLE ACTIVITIES COSTS**
**Grant**
**funding of**
**activities**
**(see note**
**5)**
**£**
Charitable activities
33,300
**5.**
**GRANTS PAYABLE**
Charitable activities
Torah Temima Bet Shemesh
Springfield Trust Ltd
Others under £6,000
**6.**
**SUPPORT COSTS**
**Other**
**£**
Charitable activities
60|**2.**
**INVESTMENT INCOME**
Rental income
**3.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**4.**
**CHARITABLE ACTIVITIES COSTS**
**Grant**
**funding of**
**activities**
**(see note**
**5)**
**£**
Charitable activities
33,300
**5.**
**GRANTS PAYABLE**
Charitable activities
Torah Temima Bet Shemesh
Springfield Trust Ltd
Others under £6,000
**6.**
**SUPPORT COSTS**
**Other**
**£**
Charitable activities
60|**2022**
**£**
6,977
**2022**
**£**
740
**Support**
**costs (see**
**note 6)**
**£**
960
**2022**
**£**
33,300|**2022**
**£**
6,977
**2022**
**£**
740
**Support**
**costs (see**
**note 6)**
**£**
960
**2022**
**£**
33,300||**2021**
**£**
9,960
**2021**
**£**
920
**Totals**
**£**
34,260
**2021**
**£**
58,200|
|---|---|---|---|---|---|
|||||||
||||10,500||28,700|
||||0||10,000|
||||22,800||19,500|
|||||||
|||||||
||||33,300||58,200|
|||||||
||**Other**
**£**
60|**Governance**
**costs**
**£**
900|||**Totals**
**£**
960|
Page 7
## **TORAH TEMIMAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022**
## **6. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **Other**
|**Other**|||
|---|---|---|
||**2022**|**2021**|
||**Charitable**|**Total**|
||**activities**|**activities**|
||**£**|**£**|
|Sundries|60|90|
|**Governance costs**|||
||**2022**|**2021**|
||**Charitable**|**Total**|
||**activities**|**activities**|
||**£**|**£**|
|Independent examiner's fee|450|480|
|Independent examiner's other fees|450|480|
||900|960|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 October 2022 nor for the year ended 31 October 2021.
## **8. INVESTMENT PROPERTY**
|**FAIR VALUE**
At 1 November 2021
and 31 October 2022
**NET BOOK VALUE**
At 31 October 2022
At 31 October 2021|**£**
126,549|
|---|---|
||126,549|
||126,549|
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the trustees who are considered to have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same or similar locations.
Page 8
## **TORAH TEMIMAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022**
|**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**11.**
**MOVEMENT IN FUNDS**
**At**
**1.11.21**
**£**
**Unrestricted funds**
General fund
151,916
**TOTAL FUNDS**
151,916
Net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
33,778
**TOTAL FUNDS**
33,778
**Comparatives for movement in funds**
**At**
**1.11.20**
**£**
**Unrestricted funds**
General fund
159,634
**TOTAL FUNDS**
159,634|**2022**
**2021**
**£**
**£**
1,871
540
**2022**
**2021**
**£**
**£**
900
960
**Net**
**movement**
**At**
**in funds**
**31.10.22**
**£**
**£**
(1,222)
150,694
(1,222)
150,694
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(35,000)
(1,222)
(35,000)
(1,222)
**Net**
**movement**
**At**
**in funds**
**31.10.21**
**£**
**£**
(7,718)
151,916
(7,718)
151,916|
|---|---|
Page 9
## **TORAH TEMIMAH TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022**
## **11. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||**Incoming**|**Resources**|**Movement**|
|---|---|---|---|
||**resources**|**expended**|**in funds**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General fund|52,452|(60,170)|(7,718)|
|**TOTAL FUNDS**|52,452|(60,170)|(7,718)|
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 October 2022.
Page 10