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COMPANY REGISTRATION NUMBER: 09725776
CHARITY REGISTRATION NUMBER: 1164794
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 August 2024
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2024
Pages
Trustees' annual report (incorporating the director's report)
1 to 3
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6 to 7
Notes to the financial statements
8 to 14
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2024 .
Reference and administrative details
Registered charity name
Kehilas Kol Yaakov Limited
Charity registration number
1164794
Company registration number
09725776
Principal office and registered
17 Stanley Street
office
Manchester
M8 8SH
The trustees
C Hibbert
S Lederberger
C D Nissenbaum
S Rose
Z Hirsch
Independent examiner
Mr Howard Schwalbe ACA
2nd Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
Structure, governance and management
Kehilas Kol Yaakov Limited is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 10 August 2015 as a company and the company number is 09725776. It was registered as a charity on 10 December 2015 with a charity number 1164794.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
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 mitigate any perceived risks.
Objectives and activities
The objectives of the charity are;
To advance the Jewish religion in North Manchester for the benefit of the public through the provision of facilities and holding of prayer meetings, study sessions, lectures and celebrations of Jewish religious events;
The furtherance of other charitable purposes as the trustees shall in their absolute discretion from time to time think fit and is charitable according to the laws of England and Wales.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Donations receivable in the year amounted to £79,122 (2023:£87,924) and £45,114 (2023:£53,383) was paid out in synagogue expenses and support costs. These payments were made in line with the stated objects of the charity.
Included within donations receivable is £6,554 (2023:£4,975) of restricted income relating to the CST security grants. This was all spent in the year.
The charity bought a plot of land as well as some portacabins during a previous year as detailed in the notes to the accounts. This was for the building of the new Synagogue that the charity inaugurated during that year. Further work was done during this year.
The charity incurred governance costs comprising professional fees during the year.
There were no investments made during the year.
Grants over £1,000 made during the year are as detailed in the accounts.
Related party transactions are as disclosed in the accounts.
There was an overall net income and net movement in funds for the year amounting to £34,030 (2023:£34,546) all of is attributable to the unrestricted fund.
Financial review
The trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
Reserves policy
As at 31 August 2024 the charity held free reserves, being net current liabilities of the charity, of (£2,579) (2023:£37,646).
The net current liabilities are primarily due to a loan on an interest free basis amounting to £5,000. The lender has confirmed that he will not call it in to the detriment of the cash flow of the charity. It is appropriate to account for the charity on a going concern basis.
The unrestricted fund represents the unrestricted funds arising from past operating results. The trustees wish to keep reserves as low as possible in order to maximise charitable activities.
In considering the limited financial obligations of the charity, the trustees have resolved to maintain a minimum reserve practical for donations which are seasonal.
The trustees' annual report and the strategic report were approved on 26 May 2025 and signed on behalf of the board of trustees by:
Z Hirsch
Trustee
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Kehilas Kol Yaakov Limited
Year ended 31 August 2024
I report to the trustees on my examination of the financial statements of Kehilas Kol Yaakov Limited ('the charity') for the year ended 31 August 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 - matter of concern identified
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 charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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 financial statements 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.
Mr Howard Schwalbe ACA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
26 May 2025
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 August 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
72,568
6,554
79,122
87,924
Investment income
6
22
22
5
--------
-------
--------
--------
Total income
72,590
6,554
79,144
87,929
--------
-------
--------
--------
Expenditure
Expenditure on charitable activities
7,8
38,560
6,554
45,114
53,383
--------
-------
--------
--------
Total expenditure
38,560
6,554
45,114
53,383
--------
-------
--------
--------
--------
-------
--------
--------
Net income and net movement in funds
34,030
34,030
34,546
--------
-------
--------
--------
Reconciliation of funds
Total funds brought forward
268,147
268,147
233,742
---------
-------
---------
---------
Total funds carried forward
302,177
302,177
268,288
---------
-------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible fixed assets
15
392,456
393,634
Current assets
Debtors
16
1,200
Cash at bank and in hand
3,580
954
-------
-------
3,580
2,154
Creditors: amounts falling due within one year
17
6,159
39,800
-------
--------
Net current liabilities
2,579
37,646
---------
---------
Total assets less current liabilities
389,877
355,988
Creditors: amounts falling due after more than one year
18
87,700
87,700
---------
---------
Net assets
302,177
268,288
---------
---------
Funds of the charity
Restricted funds
141
Unrestricted funds
302,177
268,147
---------
---------
Total charity funds
19
302,177
268,288
---------
---------
For the year ending 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of trustees and authorised for issue on 26 May 2025 , and are signed on behalf of the board by:
Z Hirsch
Trustee
Kehilas Kol Yaakov Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 17 Stanley Street, Manchester, M8 8SH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The charity has net current liabilities at the year end. The net current liabilities are primarily due to a loan on an interest free basis amounting to £5,000. The lender has confirmed that he will not call it in to the detriment of the cash flow of the charity. It is appropriate to account for the charity on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Expenditure also includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Governance costs are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Library
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
5. Donations and legacies
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Donations
Donations
72,568
72,568
Grants
CST
6,554
6,554
--------
-------
--------
72,568
6,554
79,122
--------
-------
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Donations
Donations
82,949
82,949
Grants
CST
4,975
4,975
--------
-------
--------
82,949
4,975
87,924
--------
-------
--------
6. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable
22
22
5
5
----
----
----
----
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Charitable activities
36,008
6,554
42,562
Support costs
2,552
2,552
--------
-------
--------
38,560
6,554
45,114
--------
-------
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Charitable activities
44,008
4,834
48,842
Support costs
4,541
4,541
--------
-------
--------
48,549
4,834
53,383
--------
-------
--------
8. Expenditure on charitable activities by activity type
Activities undertaken directly
Grant funding of activities
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
£
Charitable activities
29,057
13,505
1,652
44,214
52,484
Governance costs
900
900
899
--------
--------
-------
--------
--------
29,057
13,505
2,552
45,114
53,383
--------
--------
-------
--------
--------
9. Analysis of support costs
Analysis of support costs
Total 2024
Total 2023
£
£
£
General office
1,652
1,652
3,642
Governance costs
900
900
899
-------
-------
-------
2,552
2,552
4,541
-------
-------
-------
10. Analysis of grants
2024
2023
£
£
Grants to institutions
Bederech Kovod
2,600
Grants under £1000
1,100
1,350
T T T
5,075
-------
-------
6,175
3,950
Grants to individuals
Grants to individuals
7,330
11,419
--------
--------
Total grants
13,505
15,369
--------
--------
11. Net income
Net income is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
8,178
8,232
-------
-------
12. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
900
900
----
----
13. Staff costs
The average head count of employees during the year was Nil (2019: Nil).
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Tangible fixed assets
Land and buildings
Library
Total
£
£
£
Cost
At 1 September 2023
400,370
1,756
402,126
Additions
7,000
7,000
---------
-------
---------
At 31 August 2024
407,370
1,756
409,126
---------
-------
---------
Depreciation
At 1 September 2023
8,007
485
8,492
Charge for the year
7,988
190
8,178
---------
-------
---------
At 31 August 2024
15,995
675
16,670
---------
-------
---------
Carrying amount
At 31 August 2024
391,375
1,081
392,456
---------
-------
---------
At 31 August 2023
392,363
1,271
393,634
---------
-------
---------
16. Debtors
2024
2023
£
£
Other debtors
1,200
----
-------
17. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
900
1,800
Other creditors
5,259
38,000
-------
--------
6,159
39,800
-------
--------
Other creditors represents loans to the charity that are interest free and repayable on demand.
18. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
87,700
87,700
--------
--------
19. Analysis of charitable funds
Unrestricted funds
At 1 September 2023
Income
Expenditure
At 31 August 2024
£
£
£
£
General funds
268,147
72,590
(38,560)
302,177
---------
--------
--------
---------
At 1 September 2022
Income
Expenditure
At 31 August 2023
£
£
£
£
General funds
233,742
82,954
(48,549)
268,147
---------
--------
--------
---------
Restricted funds
At 1 September 2023
Income
Expenditure
At 31 August 2024
£
£
£
£
Grants receivable
6,554
(6,554)
----
-------
-------
----
At 1 September 2022
Income
Expenditure
At 31 August 2023
£
£
£
£
Grants receivable
4,975
(4,834)
141
----
-------
-------
----
20. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
392,456
392,456
Current assets
3,580
3,580
Creditors less than 1 year
(6,159)
(6,159)
Creditors greater than 1 year
(87,700)
(87,700)
---------
----
---------
Net assets
302,177
302,177
---------
----
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
393,634
393,634
Current assets
2,013
141
2,154
Creditors less than 1 year
(39,800)
(39,800)
Creditors greater than 1 year
(87,700)
(87,700)
---------
----
---------
Net assets
268,147
141
268,288
---------
----
---------
21. Related parties
C D Nissenbaum , a trustee of the charity, lent £120,000 to the charity on an interest free basis in a previous year. There were repayments of £26,000 and further loans of £2,000. The amount owing at the year end was £72,700. Z Hirsch , a trustee of the charity, lent £15,000 to the charity on an interest free basis in a previous year. The amount owing at the year end was £15,000. Durung the year, donations totalling £15,475 were received from trustees.
22. Taxation
Kehilas Kol Yaakov Ltd is a registered charity and therefore is not liable to income tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.