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REGISTERED COMPANY NUMBER: 03638569 (England and Wales)
REGISTERED CHARITY NUMBER: 1078584














Report of the Trustees and

Financial Statements for the Year Ended 31 March 2024

for

Moreshet Hatorah Ltd

Moreshet Hatorah Ltd

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Report of the Trustees 1 to 2

Report of the Independent Auditors 3 to 5

Statement of Financial Activities 6

Balance Sheet 7

Cash Flow Statement 8

Notes to the Cash Flow Statement 9

Notes to the Financial Statements 10 to 17

Moreshet Hatorah Ltd (Registered number: 03638569)

Report of the Trustees
for the Year Ended 31 March 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 31 March 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
The charity was formed for the advancement of the education of persons expressing the orthodox Jewish faith, the advancement of the orthodox Jewish faith, and the relief of poverty in the orthodox Jewish community.

The charity incorporates the activities of Belz Yeshiva, TTMH Belz Day School and Belz Day Nursery, and an adult education programme. The charity is also actively involved in raising funds for general education, and relief of poverty, and to this end has made substantial grants in the year under review.

The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.

ACHIEVEMENT AND PERFORMANCE
During the year the charity raised substantial funds, and has applied almost all of the funds in grants in furtherance of its objectives.

FINANCIAL REVIEW
During the period, the charity's incoming resources exceeded the outgoing resources, as disclosed in the financial statements, and the unrestricted reserves stood at £754,762. The trustees are satisfied with the results for the period. The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.

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

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a limited company limited by guarantee, and as such, its governing documents are its Memorandum and Articles of Association. The company was formed on 25 September 1998. The charity is managed and controlled by the directors who are the trustees, who meet regularly.

Induction and training of new trustees
It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment training and induction procedures.

Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed, both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures help them manage any perceived risks.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03638569 (England and Wales)

Registered Charity number
1078584

Registered office
1 Belz Terrace
London
E5 9AL


Moreshet Hatorah Ltd (Registered number: 03638569)

Report of the Trustees
for the Year Ended 31 March 2024


Trustees
J Baumgarten
M Moskowits

Auditors
Martin+Heller
Chartered Accountants
and Registered Auditor
5 North End Road
London
NW11 7RJ

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Moreshet Hatorah Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Martin+Heller, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 30 January 2025 and signed on its behalf by:





J Baumgarten - Trustee

Report of the Independent Auditors to the Members of
Moreshet Hatorah Ltd


Opinion
We have audited the financial statements of Moreshet Hatorah Ltd (the 'charitable company') for the year ended 31 March 2024 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 charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, 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 Companies Act 2006.

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 charitable company 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 charitable company'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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Moreshet Hatorah Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements
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 ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Report of the Independent Auditors to the Members of
Moreshet Hatorah Ltd

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We assess compliance with applicable laws and regulations that could reasonably be expected to have a
material effect on the financial statements. The key laws and regulations we have considered in this context included the Charities SORP (FRS 102). In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.We discussed with management the extent of compliance with those laws and regulations as part of our audit procedures.

- We address the risk of fraud through management override of controls, by obtaining an understanding of internal control and by designing audit procedures that are appropriate and sufficient. We evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and judgements made by management. We identified and assessed any significant transactions that are unusual or outside the normal course of business, and we incorporated testing of manual journal entries and corrections into our audit approach.

-Our audit procedures were designed to identify and assess risks of material misstatement in the financial
statements, whether due to fraud or error. The risk of not detecting a material misstatement due to fraud is higher
than the risk of not detecting one resulting from error, as fraud may involve collusion, forgery, omissions, misrepresentations, or management override of controls. We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations.

-There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion. Our responsibility is to conclude whether the financial statements represent the underlying financial position and activities of the charity and to ensure that the overall content and presentation of the financial statements gives a fair view.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters 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 accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr A Heller FCA (Senior Statutory Auditor)
for and on behalf of Martin+Heller
Chartered Accountants
and Registered Auditor
5 North End Road
London
NW11 7RJ

30 January 2025

Moreshet Hatorah Ltd

Statement of Financial Activities
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 5,646,313 - 5,646,313 5,587,615

Investment income 3 78,572 - 78,572 106,543
Total 5,724,885 - 5,724,885 5,694,158

EXPENDITURE ON
Charitable activities 4
Charitable activities 5,618,110 - 5,618,110 5,537,239

Other 98,483 - 98,483 128,318
Total 5,716,593 - 5,716,593 5,665,557

NET INCOME 8,292 - 8,292 28,601


RECONCILIATION OF FUNDS
Total funds brought forward 746,470 - 746,470 717,869

TOTAL FUNDS CARRIED FORWARD 754,762 - 754,762 746,470

Moreshet Hatorah Ltd (Registered number: 03638569)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 11 274,394 - 274,394 365,860

CURRENT ASSETS
Debtors 12 2,149,550 - 2,149,550 1,695,030
Cash at bank 685 - 685 861
2,150,235 - 2,150,235 1,695,891

CREDITORS
Amounts falling due within one year 13 (1,643,297 ) - (1,643,297 ) (1,283,155 )

NET CURRENT ASSETS 506,938 - 506,938 412,736

TOTAL ASSETS LESS CURRENT
LIABILITIES

781,332

-

781,332

778,596

CREDITORS
Amounts falling due after more than one year 14 (26,570 ) - (26,570 ) (32,126 )

NET ASSETS/(LIABILITIES) 754,762 - 754,762 746,470
FUNDS 16
Unrestricted funds 754,762 746,470
TOTAL FUNDS 754,762 746,470

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 30 January 2025 and were signed on its behalf by:





J Baumgarten - Trustee

Moreshet Hatorah Ltd

Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £ £

Cash flows from operating activities
Cash generated from operations 1 (5,275 ) (55,669 )
Net cash used in operating activities (5,275 ) (55,669 )

Cash flows from financing activities
Loan repayments in year (5,555 ) (6,671 )
Net cash used in financing activities (5,555 ) (6,671 )

Change in cash and cash equivalents in
the reporting period

(10,830

)

(62,340

)
Cash and cash equivalents at the
beginning of the reporting period

2

(65,840

)

(3,500

)
Cash and cash equivalents at the end of
the reporting period

2

(76,670

)

(65,840

)

Moreshet Hatorah Ltd

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024


1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.3.24 31.3.23
£ £
Net income for the reporting period (as per the Statement of Financial
Activities)

8,292

28,601
Adjustments for:
Depreciation charges 91,465 121,954
Increase in debtors (454,520 ) (158,896 )
Increase/(decrease) in creditors 349,488 (47,328 )
Net cash used in operations (5,275 ) (55,669 )

2. ANALYSIS OF CASH AND CASH EQUIVALENTS
31.3.24 31.3.23
£ £
Notice deposits (less than 3 months) 685 861
Overdrafts included in bank loans and overdrafts falling due within one year (77,355 ) (66,701 )
Total cash and cash equivalents (76,670 ) (65,840 )



3. ANALYSIS OF CHANGES IN NET DEBT

At 1/4/23 Cash flow At 31/3/24
£ £ £
Net cash
Cash at bank 861 (176 ) 685
Bank overdrafts (66,701 ) (10,654 ) (77,355 )
(65,840 ) (10,830 ) (76,670 )

Debt
Debts falling due within 1 year (7,500 ) - (7,500 )
Debts falling due after 1 year (32,126 ) 5,556 (26,570 )
(39,626 ) 5,556 (34,070 )
Total (105,466 ) (5,274 ) (110,740 )

Moreshet Hatorah Ltd

Notes to the Financial Statements
for the Year Ended 31 March 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.


Short leasehold - 10% on cost
Fixtures & equipment - 25% 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 details of the movements in each fund is included in the notes to the financial statements.


Moreshet Hatorah Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. DONATIONS AND LEGACIES
31.3.24 31.3.23
£ £
Donations 2,632,250 2,837,159
Grants 951,824 865,676
Admission fees 2,062,239 1,841,324
Other income - 43,456
5,646,313 5,587,615

Grants received, included in the above, are as follows:

31.3.24 31.3.23
£ £
Other grants 951,824 865,676

3. INVESTMENT INCOME
31.3.24 31.3.23
£ £
Rents received 78,572 106,543

4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
Direct (see note
Costs 5) Totals
£ £ £
Charitable activities 2,620,848 2,997,262 5,618,110

5. GRANTS PAYABLE
31.3.24 31.3.23
£ £
Charitable activities 2,997,262 2,583,678

Donations paid to institutions during the year amounted to £2,362,955


Belz Foundation Ltd 55,623
Dover Sholem Community Trust 927,808
Fundd 224,241
Hatzolas Yisroel Darizal 65,783
Maseh Rockeach 891,760
Donations less than £50,000 197,740
2,362,955


Moreshet Hatorah Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Other resources expended 91,465 7,018 98,483

7. NET INCOME/(EXPENDITURE)

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

31.3.24 31.3.23
£ £
Audit fees 3,600 3,600
Depreciation - owned assets 91,466 121,953

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


9. STAFF COSTS
31.3.24 31.3.23
£ £
Wages and salaries 1,388,088 1,476,957
1,388,088 1,476,957

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

31.3.24 31.3.23
Lecturers and researchers 2 2
Teachers & carers 83 85
85 87

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




Moreshet Hatorah Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 5,584,740 2,875 5,587,615

Investment income 106,543 - 106,543
Total 5,691,283 2,875 5,694,158

EXPENDITURE ON
Charitable activities
Charitable activities 5,534,364 2,875 5,537,239

Other 128,318 - 128,318
Total 5,662,682 2,875 5,665,557

NET INCOME 28,601 - 28,601


RECONCILIATION OF FUNDS
Total funds brought forward 717,869 - 717,869

TOTAL FUNDS CARRIED FORWARD 746,470 - 746,470

11. TANGIBLE FIXED ASSETS
Short Fixtures &
leasehold equipment Totals
£ £ £
COST
At 1 April 2023 and 31 March 2024 691,476 1,974,407 2,665,883
DEPRECIATION
At 1 April 2023 691,477 1,608,546 2,300,023
Charge for year - 91,466 91,466
At 31 March 2024 691,477 1,700,012 2,391,489
NET BOOK VALUE
At 31 March 2024 (1 ) 274,395 274,394
At 31 March 2023 (1 ) 365,861 365,860


Moreshet Hatorah Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 271,299 102,327
Other debtors 1,878,251 1,592,703
2,149,550 1,695,030

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans and overdrafts (see note 15) 84,855 74,201
Trade creditors 257,479 91,612
Social security and other taxes (33,575 ) (36,198 )
Other creditors 1,326,178 1,142,260
Accruals and deferred income 8,360 11,280
1,643,297 1,283,155

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans (see note 15) 26,570 32,126

15. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£ £
Amounts falling due within one year on demand:
Bank overdrafts 77,355 66,701
Bank loans 7,500 7,500
84,855 74,201
Amounts falling between one and two years:
Bank loans - 1-2 years 10,000 10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 16,570 22,126


Moreshet Hatorah Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


16. MOVEMENT IN FUNDS
Net
movement
At 1/4/23 in funds At 31/3/24
£ £ £
Unrestricted funds
General fund 746,470 8,292 754,762

TOTAL FUNDS 746,470 8,292 754,762

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 5,724,885 (5,716,593 ) 8,292

TOTAL FUNDS 5,724,885 (5,716,593 ) 8,292


Comparatives for movement in funds

Net
movement
At 1/4/22 in funds At 31/3/23
£ £ £
Unrestricted funds
General fund 717,869 28,601 746,470

TOTAL FUNDS 717,869 28,601 746,470

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 5,691,283 (5,662,682 ) 28,601

Restricted funds
Restricted fund 2,875 (2,875 ) -

TOTAL FUNDS 5,694,158 (5,665,557 ) 28,601

Moreshet Hatorah Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


16. MOVEMENT IN FUNDS - continued

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

Net
movement
At 1/4/22 in funds At 31/3/24
£ £ £
Unrestricted funds
General fund 717,869 36,893 754,762

TOTAL FUNDS 717,869 36,893 754,762

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 11,416,168 (11,379,275 ) 36,893

Restricted funds
Restricted fund 2,875 (2,875 ) -

TOTAL FUNDS 11,419,043 (11,382,150 ) 36,893

17. RELATED PARTY DISCLOSURES

Donations received by the charity include the following amounts which were received from charities which have trustees in common with Moreshet Hatorah Limited:

Cosmon (Belz) Ltd2,875


Donations paid by the charity include the following amounts which were paid to charities which have trustees in common with Moreshet Hatorah Limited:

The Talmud Torah Machzikei Hadass Trust28,054
Chevras Mooz Ladol13,000


Other debtors include the following loans due from charities which have trustees in common with Moreshet Hatorah Limited:

Cosmon (Belz) Ltd500,221
The Talmud Torah Machzikei Hadass Trust747,525

Other creditors include the following loans due to charities which have trustees in common with Moreshet Hatorah Limited:

Clapton Common Boys Club86,050


Moreshet Hatorah Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


17. RELATED PARTY DISCLOSURES - continued

At the year end, the charity owed £250,000 to J Baumgarten.

18. COMPANY LIMITED BY GUARANTEE

The charity company is limited by guarantee and does not have a share capital. The articles of association of the company preclude the distribution of assets to the members of the company and accordingly a reconciliation of shareholders' funds is inappropriate. The liability of each member in the event of a winding up is limited to £1.