Oholei Yosef Yitzchok Lubavitch Schools Charity Accounts

COMPANY REGISTRATION NUMBER: 09858903

CHARITY REGISTRATION NUMBER: 1168395

Oholei Yosef Yitzchok Lubavitch Schools

Company Limited by Guarantee

Unaudited Financial Statements

31 August 2025

Oholei Yosef Yitzchok Lubavitch Schools

Company Limited by Guarantee

Financial Statements

Year ended 31 August 2025

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	5

Statement of financial activities (including income and expenditure account)	7

Statement of financial position	8

Notes to the financial statements	9

Oholei Yosef Yitzchok Lubavitch Schools

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2025

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 2025 .

Reference and administrative details

Registered charity name	Oholei Yosef Yitzchok Lubavitch Schools

Charity registration number	1168395

Company registration number	09858903

Principal office and registered	460 Bury New Road
office	Salford
	M7 4LH

The trustees

	Rabbi Y A Cohen
	E Eidelman
	D M Hickson

Independent examiner	Mr Howard Schwalbe ACA
	2nd Floor - Parkgates
	Bury New Road
	Prestwich
	Manchester
	M25 0TL

Structure, governance and management

Oholei Yosef Yitzchok Lubavitch Schools is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 05 November 2015 as a company and the company number is 9858903. It was registered as a charity on 22 July 2016 with a charity number being 1168395 .

Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.

There is no chief executive officer. The day to day affairs are undertaken by Mrs S Klyne on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.

Training and induction of trustees is applied as applicable.

Risk review

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.

The risks faced by the trust are principally operational risks from ineffective running of the school. These risks are managed by the trustees ensuring the right staff are utilised and the right policies are implemented.

Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all aspects of the school management.

Risk Management

The process of examining the risks to which the Charity is exposed is ongoing and the trustees are planning to further develop systems to monitor and control these risks in order to lessen their potential impact on the Charity.

Public Benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity’s aims and objectives and in planning future activities.

Objectives and activities

The objects of the charity are: (i) for the public benefit to promote the education (including social and leisure aspects of education) of people under the age of 25 years in the North of England in such ways as the charity trustees think fit, including awarding to such persons scholarships, maintenance allowances or grants; or by grants to charities or other organisations that provide education; or by the provision of education. (ii) The prevention or relief of poverty or financial hardship in the North of England by providing grants or loans to individuals in need and / or charities or other organisations working to prevent or relieve poverty or financial hardship.

Aims

The main aim of the Charity continued to be the provision of a preschool nursery, and educational facilities to Jewish girls, for children aged 2 to 17.

Objectives for the year

This year, the focus has been on the continued achievement of academic performance.

Principal Activities of the year

The nursery and girl's school provided education to 90 children aged 2 to 17. This was achieved by the charity managing a preschool nursery and girls' school.

Grant making policy

The charity would give out grants in line with the above objects.

There were no individual or institutional grants made during the year.

The trustees consider they have met the public benefit test and outline these achievements below.

The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

Results for the year

Donation income in the year amounted to £38,083 (2024: £23,202). Income in respect of voluntary contributions and childcare amounted to £142,314 (2024: £160,578). Grants receivable amounted to £110,797 (2024: £94,754). Bank Interest receivable during the year amounted to £1,016 (2024: £1,445).

Direct educational expenditure in the year amounted to £312,427 (2024: £280,188).

The charity incurred support and governance costs in the year amounting to £13,562 (2024: £12,726). The majority of the support costs can be attributed to administrative wages.

A portion of the above income relates to restricted funds received from the Community Security Trust and Salford City Council. We refer the users of the accounts to note 18 for an amalgamated figure of the restricted income received and its subsequent expenditure.

The school building is owned by a different charity. The trustees are grateful for the use of the building to enable this charity to dispense education to children as outlined above.

There were no investments made during the year.

Related party transactions in the reporting period are as disclosed in the notes to the accounts.

The school was subject to an OFSTED inspection in a previous year. The trustees are proud to report that the school attained a GOOD grading from the inspectors.

There was a net expenditure and net movement in funds for the year amounting to £31,524 (2024: £12,435).

There was a net expenditure in the unrestricted fund amounting to £23,788 (2024: £22,385) and a net expenditure of £7,736 attributable to the restricted fund (2024: £9,950 of net income).

Financial review

Reserves Policy

The trustees have reviewed the level of reserves held by the Charity. The review has concluded that to allow the Charity to be managed efficiently and to provide a buffer for uninterrupted services the level of free reserves, being those not tied up in fixed assets, needs to be maintained at not less than six months expenditure.

The total funds held by the charity at the yearend were £80,346 (2024: £111,870) being the net current assets of the charity. £2,214 (2024: £9,950) of these funds are restricted and £78,132 (2024: £101,920) are unrestricted.

The trustees' annual report and the strategic report were approved on 22 April 2026 and signed on behalf of the board of trustees by:

Rabbi Y A Cohen

Trustee

Oholei Yosef Yitzchok Lubavitch Schools

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Oholei Yosef Yitzchok Lubavitch Schools

Year ended 31 August 2025

I report to the trustees on my examination of the financial statements of Oholei Yosef Yitzchok Lubavitch Schools ('the charity') for the year ended 31 August 2025.

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

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 the Institute of Chartered Accountants in England and Wales (ICAEW), 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:

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

22 April 2026

Oholei Yosef Yitzchok Lubavitch Schools

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 August 2025

	2025			2024
	Unrestricted funds	Restricted funds	Total funds	Total funds
Note	£	£	£	£

Income and endowments

Donations and legacies	5	38,083	110,797	148,880	117,956
Investment income	6	1,016	–	1,016	1,445
Other income	7	144,569	–	144,569	164,246
		---------	---------	---------	---------
Total income		183,668	110,797	294,465	283,647
		---------	---------	---------	---------

Expenditure

Expenditure on charitable activities	8,9	207,456	118,533	325,989	296,082
		---------	---------	---------	---------
Total expenditure		207,456	118,533	325,989	296,082
		---------	---------	---------	---------

	---------	---------	---------	---------
Net expenditure and net movement in funds	( 23,788)	( 7,736)	( 31,524)	( 12,435)
	---------	---------	---------	---------

Reconciliation of funds

Total funds brought forward	101,920	9,950	111,870	124,305
	---------	---------	---------	---------
Total funds carried forward	78,132	2,214	80,346	111,870
	---------	---------	---------	---------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Oholei Yosef Yitzchok Lubavitch Schools

Company Limited by Guarantee

Statement of Financial Position

31 August 2025

	2025		2024
Note	£	£	£

Current assets

Debtors	15	–	7,800
Cash at bank and in hand		95,610	119,162
		--------	---------
		95,610	126,962

Creditors: amounts falling due within one year	16	15,264		15,092
		--------		---------
Net current assets			80,346	111,870
			--------	---------
Total assets less current liabilities			80,346	111,870
			--------	---------
Net assets			80,346	111,870
			--------	---------

Funds of the charity

Restricted funds		2,214	9,950
Unrestricted funds		78,132	101,920
		--------	---------
Total charity funds	18	80,346	111,870
		--------	---------

For the year ending 31 August 2025 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.

These financial statements were approved by the board of trustees and authorised for issue on 22 April 2026 , and are signed on behalf of the board by:

Rabbi Y A Cohen

Trustee

Oholei Yosef Yitzchok Lubavitch Schools

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 August 2025

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 460 Bury New Road, Salford, M7 4LH.

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

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

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 those available for use for general purposes at the discretion of the charity trustees and governors in furtherance of the charity's objects. Restricted funds are from grants received and must be used in line with the grant funder's instructions.

Incoming resources

All incoming resources are 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. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity 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. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

Oholei Yosef Yitzchok Lubavitch Schools is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10.

5. Donations and legacies

Unrestricted Funds	Restricted Funds	Total Funds 2025
£	£	£

Donations

	Donations	38,083	–	38,083

Grants

Salford CC	–	85,047	85,047
Security grants - CST	–	25,750	25,750
National Lottery Grant	–	–	–
	--------	---------	---------
	38,083	110,797	148,880
	--------	---------	---------

Unrestricted Funds	Restricted Funds	Total Funds 2024
£	£	£

Donations

	Donations	23,202	–	23,202

Grants

Salford CC	–	60,995	60,995
Security grants - CST	–	23,809	23,809
National Lottery Grant	–	9,950	9,950
	--------	--------	---------
	23,202	94,754	117,956
	--------	--------	---------

6. Investment income

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Bank interest receivable	1,016	1,016	1,445	1,445
	-------	-------	-------	-------

7. Other income

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Voluntary contributions	51,162	51,162	75,260	75,260
Childcare	91,152	91,152	85,318	85,318
Other income	2,255	2,255	3,668	3,668
	---------	---------	---------	---------
	144,569	144,569	164,246	164,246
	---------	---------	---------	---------

8. Expenditure on charitable activities by fund type

	Unrestricted Funds	Restricted Funds	Total Funds 2025
	£	£	£
OYY Lubavitch Girls School	193,894	118,533	312,427
Support costs	13,562	–	13,562
	---------	---------	---------
	207,456	118,533	325,989
	---------	---------	---------

	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
OYY Lubavitch Girls School	198,551	84,804	283,356
Support costs	12,727	–	12,726
	---------	--------	---------
	211,278	84,804	296,082
	---------	--------	---------

9. Expenditure on charitable activities by activity type

	Activities undertaken directly	Grant funding of activities	Support costs	Total funds 2025	Total fund 2024
	£	£	£	£	£
OYY Lubavitch Girls School	312,047	380	11,461	323,888	291,982
Governance costs	–	–	2,101	2,101	4,100
	---------	----	--------	---------	---------
	312,047	380	13,562	325,989	296,082
	---------	----	--------	---------	---------

10. Analysis of support costs

	Analysis of support costs	Total 2025	Total 2024
	£	£	£
Staff costs	9,600	9,600	8,626
General office	1,861	1,861	–
Governance costs	2,101	2,101	4,100
	--------	--------	--------
	13,562	13,562	12,726
	--------	--------	--------

11. Analysis of grants

	2025	2024
	£	£

Grants to individuals

Grants to individuals	380	–
	----	----
Total grants	380	–
	----	----

12. Independent examination fees

	2025	2024
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	2,101	2,100
	-------	-------

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2025	2024
	£	£
Wages and salaries	227,615	183,779
Employer contributions to pension plans	921	543
	---------	---------
	228,536	184,322
	---------	---------

The average head count of employees during the year was 28 (2024: 19 ). The average number of full-time equivalent employees during the year is analysed as follows:

	2025	2024
	No.	No.
Number of teaching staff	27	18
Number of administrative staff	1	1
	----	----
	28	19
	----	----

No employee received employee benefits of more than £60,000 during the year (2024: 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. Debtors

	2025	2024
	£	£
Other debtors	–	7,800
	----	-------

16. Creditors: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	2,100	2,100
Social security and other taxes	651	471
Other creditors	12,513	12,521
	--------	--------
	15,264	15,092
	--------	--------

17. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 921 (2024: £ 543 ).

18. Analysis of charitable funds

Unrestricted funds

	At 1 September 2024	Income	Expenditure	At 31 August 2025
	£	£	£	£
General funds	101,920	183,668	(207,456)	78,132
	---------	---------	---------	--------

	At 1 September 2023	Income	Expenditure	At 31 August 2024
	£	£	£	£
General funds	124,305	188,893	(211,278)	101,920
	---------	---------	---------	---------

Restricted funds

	At 1 September 2024	Income	Expenditure	At 31 August 2025
	£	£	£	£
Restricted funds - grants received	9,950	110,797	(118,533)	2,214
	-------	---------	---------	-------

	At 1 September 2023	Income	Expenditure	At 31 August 2024
	£	£	£	£
Restricted funds - grants received	–	94,754	(84,804)	9,950
	----	--------	--------	-------

19. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2025
	£	£
Current assets	95,610	95,610
Creditors less than 1 year	(15,264)	(15,264)
	--------	--------
Net assets	80,346	80,346
	--------	--------

	Unrestricted Funds	Total Funds 2024
	£	£
Current assets	126,962	126,962
Creditors less than 1 year	(15,092)	(15,092)
	---------	---------
Net assets	111,870	111,870
	---------	---------

20. Related parties

Rabbi Y A Cohen , trustee of Oholei Yosef Yitzchok Lubavitch Schools , is also a trustee of Beis Menachem Chabad Lubavitch. During the year Oholei Yosef Yitzchok Lubavitch Schools received a donation of £1,000 from Beis Menachem Chabad Lubavitch.

21. Taxation

Oholei Yosef Yitzchok Lubavitch Schools is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.