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REGISTERED COMPANY NUMBER: 13336522 (England and Wales)
REGISTERED CHARITY NUMBER: 999999















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

VISHNITZ SEMINARY LTD

VISHNITZ SEMINARY LTD






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 11

VISHNITZ SEMINARY LTD (REGISTERED NUMBER: 13336522)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024


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 year ended 30 April 2024. 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 aims
For the public benefit to advance in life and help Orthodox Jewish girls under the age of 25 years in the United Kingdom in such ways as the charity sees fit, including but not limited to:

a) Providing training and courses to advance their higher and further education to prepare for entry to any occupation, trade or profession;

b) Awarding to such persons scholarships, maintenance allowance or grants tenable at any university, college or institution of higher or further education;

c) Providing recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;

d) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

Significant activities
The financial results of the Company's activities for the period ended 30 April 2024 are fully reflected in the attached financial statements together with the notes thereon.

The trustees are satisfied with the results and activities of the company for the year and do not anticipate any significant changes in the forthcoming year

Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aims and objectives and planning future activities and setting the grant making policy for the year.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year under review the charity received donations that amounted to £237,691 (2023: £5,280) and spent £221,242 (2023: £nil) on charitable activities in line with its charitable objectives.

FINANCIAL REVIEW
Reserves policy
The charity maintains unrestricted free reserve at a level adequate to meet its short term operational obligation.

Going concern
The trustees believe that the charity has enough resources to continue for the foreseeable future.

FUTURE PLANS
There are no current plans to change the activities or modus operandi of the group for the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

VISHNITZ SEMINARY LTD (REGISTERED NUMBER: 13336522)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
There are three trustees who also act as directors. They meet on a regular basis to discuss the affairs of the charity. All decisions are based on a majority decision of the directors but in almost all cases the votes are unanimous.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
13336522 (England and Wales)

Registered Charity number
999999

Registered office
115 Craven Park Road
London
N15 6BL

Trustees
G Berger Director
M Steren Business Person
Mrs L Weiss Head Teacher

Independent Examiner
M A Venitt, A.C.A
Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

Approved by order of the board of trustees on 1 November 2024 and signed on its behalf by:





G Berger - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
VISHNITZ SEMINARY LTD

Independent examiner's report to the trustees of VISHNITZ SEMINARY LTD ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2024.

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.








M A Venitt, A.C.A

Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

1 November 2024

VISHNITZ SEMINARY LTD

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2024

30.4.24 30.4.23
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 237,691 5,280

EXPENDITURE ON
Charitable activities
Charitable activities 221,242 -

Other 2,790 300
Total 224,032 300

NET INCOME 13,659 4,980


RECONCILIATION OF FUNDS
Total funds brought forward 4,980 -

TOTAL FUNDS CARRIED FORWARD 18,639 4,980

VISHNITZ SEMINARY LTD (REGISTERED NUMBER: 13336522)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 6 3,820 -

CURRENT ASSETS
Cash at bank 42,979 5,280

CREDITORS
Amounts falling due within one year 7 (28,160 ) (300 )

NET CURRENT ASSETS 14,819 4,980

TOTAL ASSETS LESS CURRENT
LIABILITIES

18,639

4,980

NET ASSETS 18,639 4,980
FUNDS 8
Unrestricted funds 18,639 4,980
TOTAL FUNDS 18,639 4,980

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.


VISHNITZ SEMINARY LTD (REGISTERED NUMBER: 13336522)

BALANCE SHEET - continued
30 APRIL 2024

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 1 November 2024 and were signed on its behalf by:





G Berger - Trustee





M Steren - Trustee





L Weiss - Trustee

VISHNITZ SEMINARY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

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
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.


Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
The charity is exempt from corporation 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.


VISHNITZ SEMINARY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

30.4.24 30.4.23
£    £   
Depreciation - owned assets 1,580 -

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.


4. STAFF COSTS

The average monthly number of employees during the year was as follows:

30.4.24 30.4.23
Staff 24 -

No employees received emoluments in excess of £60,000.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 5,280

EXPENDITURE ON


Other 300

NET INCOME 4,980

TOTAL FUNDS CARRIED FORWARD 4,980


VISHNITZ SEMINARY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 1,120 4,280 5,400
DEPRECIATION
Charge for year 168 1,412 1,580
NET BOOK VALUE
At 30 April 2024 952 2,868 3,820
At 30 April 2023 - - -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Social security and other taxes 572 -
Other creditors 26,208 -
Accrued expenses 1,380 300
28,160 300

8. MOVEMENT IN FUNDS
Net
movement At
At 1.5.23 in funds 30.4.24
£    £    £   
Unrestricted funds
General fund 4,980 13,659 18,639

TOTAL FUNDS 4,980 13,659 18,639

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 237,691 (224,032 ) 13,659

TOTAL FUNDS 237,691 (224,032 ) 13,659


VISHNITZ SEMINARY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.5.22 in funds 30.4.23
£    £    £   
Unrestricted funds
General fund - 4,980 4,980

TOTAL FUNDS - 4,980 4,980

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 5,280 (300 ) 4,980

TOTAL FUNDS 5,280 (300 ) 4,980

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.5.22 in funds 30.4.24
£    £    £   
Unrestricted funds
General fund - 18,639 18,639

TOTAL FUNDS - 18,639 18,639

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 242,971 (224,332 ) 18,639

TOTAL FUNDS 242,971 (224,332 ) 18,639


VISHNITZ SEMINARY LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. RELATED PARTY DISCLOSURES

During the period the charity received donations from Vishnitz Girls Schools Ltd that amounted to £77,500 (2023: £5,000). The charity and Vishnitz Girls Schools Ltd share a common trustee.