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REGISTERED COMPANY NUMBER: 06791037 (England and Wales)
REGISTERED CHARITY NUMBER: 1128361



















THE KOLEL LIMITED
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS
FOR THE PERIOD
1 FEBRUARY 2022 TO 30 JANUARY 2023

THE KOLEL LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2022 TO 30 JANUARY 2023




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 9

THE KOLEL LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE PERIOD 1 FEBRUARY 2022 TO 30 JANUARY 2023



TRUSTEES M Eichenstein
M Freund
L Rabinowitz


REGISTERED OFFICE First Floor
94 Stamford Hill
London
N16 6XS


REGISTERED COMPANY
NUMBER
06791037 (England and Wales)


REGISTERED CHARITY
NUMBER
1128361


INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS


BANKERS Barclays Bank plc
Plaistow Branch
London
E13

THE KOLEL LIMITED (REGISTERED NUMBER: 06791037)

REPORT OF THE TRUSTEES
FOR THE PERIOD 1 FEBRUARY 2022 TO 30 JANUARY 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 February 2022 to 30 January 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).

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 objects of the charity are:-
The advancement of Orthodox Jewish Religious education primarily but not exclusively by the establishing and maintaining an institute for advanced Talmudic Studies and providing there at facilities and courses for such studies; the advancement of the Orthodox Jewish Faith and the advancement of such other objects as are for the benefit of the public and are charitable according to English Law.

The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE
Review
The charity's income and expenditure were materially the same as the previous year; the charity incurred a small deficit.

FINANCIAL REVIEW
Reserves policy
The charity does not have a specific reserve policy. Grants are made according to the availability of funds. Reserves at the year end stood at £2,556 deficit (2022 - £2,759 surplus).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 14 January 2009.

Recruitment and appointment of new trustees
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 confirmed that there are no major risks to which the charity is exposed.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 4 March 2024 and signed on its behalf by:





M Eichenstein - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE KOLEL LIMITED

Independent examiner's report to the trustees of The Kolel Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the period 1 February 2022 to 30 January 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

4 March 2024

THE KOLEL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE PERIOD 1 FEBRUARY 2022 TO 30 JANUARY 2023

PERIOD
1.2.22
TO YEAR ENDED
30.1.23 31.1.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 141,500 143,096

Investment income 2 64 -
Total 141,564 143,096

EXPENDITURE ON
Charitable activities 3
Grantmaking 141,817 143,363
College running costs 2,197 -
Support costs 2,865 3,111
Total 146,879 146,474

NET INCOME/(EXPENDITURE) (5,315 ) (3,378 )


RECONCILIATION OF FUNDS
Total funds brought forward 2,759 6,137

TOTAL FUNDS CARRIED FORWARD (2,556 ) 2,759

THE KOLEL LIMITED (REGISTERED NUMBER: 06791037)

BALANCE SHEET
30 JANUARY 2023

2023 2022
Total Total
funds funds
Notes £    £   
CURRENT ASSETS
Cash at bank 1,075 6,036

CREDITORS
Amounts falling due within one year 8 (3,631 ) (3,277 )

NET CURRENT ASSETS/(LIABILITIES) (2,556 ) 2,759

TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,556

)

2,759

NET ASSETS (2,556 ) 2,759
FUNDS
Unrestricted funds:
General fund (2,556 ) 2,759
TOTAL FUNDS (2,556 ) 2,759

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 January 2023.


The members have not required the company to obtain an audit of its financial statements for the period ended 30 January 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 4 March 2024 and were signed on its behalf by:





M Eichenstein - Trustee

THE KOLEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2022 TO 30 JANUARY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Raising funds comprise the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Grants are only recognised in the accounts when paid.

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.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Going concern
There are no material uncertainties about the charity's ability to continue.

2. INVESTMENT INCOME
PERIOD
1.2.22
TO YEAR ENDED
30.1.23 31.1.22
Unrestricted Total
funds funds
£    £   
Deposit account interest 64 -


THE KOLEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 30 JANUARY 2023

3. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 4) note 5) Totals
£    £    £    £   
Grantmaking - 141,817 - 141,817
College running costs 2,197 - - 2,197
Support costs - - 2,865 2,865
2,197 141,817 2,865 146,879

4. GRANTS PAYABLE
PERIOD
1.2.22
TO YEAR ENDED
30.1.23 31.1.22
£    £   
Grantmaking 141,817 143,363
The total grants paid to institutions during the period was as follows:
PERIOD
1.2.22
TO YEAR ENDED
30.1.23 31.1.22
£    £   
Study and lecture grants - 2,100
Relief of poverty 12,290 25,036
Advancement of education 19,022 4,465
Advancement of religion 23,080 1,786
Social welfare 1,378 118
55,770 33,505

Mifal Tzedoko Vochesed 16,000
Yeshiva Toras Chemed 7,000
Amud Hatzdokoh Trust 5,865
Yeshiva Torah Vodaath 3,418
Nachlas Beis Yaakov 3,000
North West Sephardish Synagogue 2,500
Others under £2,500 17,987
55,770

THE KOLEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 30 JANUARY 2023

4. GRANTS PAYABLE - continued

The total grants paid to individuals during the period was as follows:
PERIOD
1.2.22
TO YEAR ENDED
30.1.23 31.1.22
£    £   
Study and lecture grants 56,500 86,500
Relief of poverty 29,547 23,358
86,047 109,858

5. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Support costs 794 2,071 2,865

Support costs, included in the above, are as follows:

Governance costs
PERIOD
1.2.22
TO YEAR ENDED
30.1.23 31.1.22
Support Total
costs activities
£    £   
Independent examiner's fee 780 780
Independent examiner's other fees 780 780
General expenses 511 668
2,071 2,228

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 January 2023 nor for the year ended 31 January 2022.


Trustees' expenses

There were no trustees' expenses paid for the period ended 30 January 2023 nor for the year ended 31 January 2022.



THE KOLEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 30 JANUARY 2023

7. AVERAGE STAFF NUMBERS

The average number of staff in the year was NIL (2022 - NIL)

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Accruals and deferred income 3,631 3,277

9. RELATED PARTY DISCLOSURES

The charity received unrestricted donations of £133,500 (2022 - £138,000) from charities and companies in which trustees and/or close relatives have an interest.