The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "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).
The charity was established for the advancement of the Orthodox Jewish faith and does this through operating a school to provide Jewish religious education and education generally.
The charity also provides and assists in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation for children and young people of the Orthodox Jewish faith with the object of improving their conditions of life.
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 and in planning future activities.
Charitable activities
Talmud Torah London is an Orthodox Jewish school based in Hackney, North London. The school currently has 170 children enrolled in Early Years Foundation Stage, Key Stage One and Key Stage Two between the ages of 3 - 13.
In the year under review the charity generated income of £957,905 (2024: £977,448) and incurred expenses in running the school of £932,150 (2024: £899,678) resulting in net incoming resources of £25,755.
The school and nursery were rated good in their most recent Ofsted reports.
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level that the charity can fund the day to day running costs of the school.
As at 31 March 2025 the charity has total reserves of £119,880.
The trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity plans to continue to support the school and fund its activities for the foreseeable future subject to satisfactory income.
The Charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The power to appoint new trustees is vested in the current board. Induction of new trustees is mainly through discussion with the current board, supplemented, as required, by specific training relating to the responsibilities and duties of trustees.
The trustees administer the day to day running of the charity.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Talmud Torah London Limited (the Charity) for the year ended 31 March 2025.
As the trustees of the Charity (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 financial statements of the Charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.
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 that in any material respect:
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
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
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 financial statements to be reached.
J Silver FCCA
Precision Ltd
32 Castlewood Road
N16 6DW
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Talmud Torah London Limited is a public benefit entity and a private company limited by guarantee incorporated in England and Wales. The registered office is 35 Moresby Road, London, E5 9LE.
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity will continue for the foreseeable future notwithstanding the net current liability position of the charity, based upon the continued financial support from the community. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. Details of the purposes and uses of the restricted funds can be obtained from the company's registered office upon request.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income from voluntary contributions are credited to the statement of financial activities on a cash received basis.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts.
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.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.
The preparation of these financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Grants from local authority and government funding.
Charitable Income
Charitable Income
Provision of Childcare Services
Charitable Expenditure
Charitable Expenditure
Charitable expenditure
Charitable Expenditure
Bank Charges
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
The above long-term loan is guaranteed by the government under the Bounce back loan scheme.
The loan accrues interest at 2.5% p.a.
During the year, the charity occupied premises owned by a company in which one of the charity’s trustees is also a director. The premises were provided at a reduced rent of £40,000.
The nursery and school also used rent free, a building provided by a charity which the trustees are closely related to one of this charity's trustees.
The charity received income of £Nil (2024: £9,900) from a company where one of the charity’s trustees is also a director, and £1,758 from a close family member of a trustee.
The charity also paid £7,200 (2024: £5,436) for services provided by another charity that shares common trustees with this charity.
All transactions were conducted on terms that the trustees consider to be at arm’s length and in the best interests of the charity.
There were no other disclosable related party transactions during the year.