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COMPANY REGISTRATION NUMBER: 6873619
CHARITY REGISTRATION NUMBER: 1130865
Nissim
Company Limited by Guarantee
Unaudited Financial Statements
31 August 2025
Nissim
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)
6
Statement of financial position
7
Notes to the financial statements
8
Nissim
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
Nissim
Charity registration number
1130865
Company registration number
6873619
Principal office and registered
2nd Floor - Parkgates
office
Bury New Road
Prestwich
Manchester
M25 0TL
The trustees
I Abittan
R Brandies
R Issler
Independent examiner
Mr Howard Schwalbe ACA
2nd Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
Structure, governance and management
Nissim is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 08 April 2009 as a company and the company number is 6873619 . It was registered as a charity on 30 July 2009 with a charity number 1130865 .
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 Mr R Brandeis 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.
There are no policies for the induction or training of new trustees.
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 grant making and ineffective management of the building.
These risks are managed by the trustees researching potential beneficiaries before granting donations and ensuring appropriate personnel are managing the building.
Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.
Objectives and activities
Objects
The objects of the charity are: (i) the relief of poverty, in particular but not exclusively, of the Jewish community; (ii) the advancement of education according to the beliefs and values of the Jewish Faith; (iii) to relieve persons, in particular but not exclusively, of the Jewish community suffering from ill health and (iv) any charitable purpose at the discretion of the trustees for the benefit of the community.
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 and setting grant making policy for the year.
Grant making policy
The charity is funded by donations. The charity primarily provides grants towards education and education based projects.
There were no grants paid to individuals during the year.
The application of the funds by way of grants to either institutions or individuals and is almost always to institutions.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.
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
The charity received £37,868 (2024: £57,880) in donations during the year.
The charity paid out £43,103 (2024: £45,920) by way of educational expenses and support costs. The charity paid for various property expenses during the year that were educational in nature. This expenditure was made in line with the stated objects of the charity and was for maintenance of a property that houses a boy's primary school in the Manchester area.
The charity has governance costs that comprise professional fees.
All other office costs are borne by a local benefactor and the trustees wish to record their appreciation to the benefactor for the free use of their offices.
There were no material fundraising costs during the year.
There were no related party transactions during the year.
There was an overall net expenditure and net movement in funds for the year amounting to £5,235 (2024: income of £11,960).
Financial review
The trustees feel that the activity reflects the profile and standing within the local community. The impact for future years' expenditure is self evident and the trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.
Reserves policy
The unrestricted fund represents the unrestricted funds arising from past operating results.
The free reserves, being the net current assets of the charity stand at £33,482 (2024: £43,265) all of which is attributable to the unrestricted fund.
The trustees' annual report and the strategic report were approved on 22 April 2026 and signed on behalf of the board of trustees by:
I Abittan
Trustee
Nissim
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Nissim
Year ended 31 August 2025
I report to the trustees on my examination of the financial statements of Nissim ('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
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
Nissim
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 August 2025
2025
2024
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
37,868
37,868
57,880
--------
--------
--------
Total income
37,868
37,868
57,880
--------
--------
--------
Expenditure
Expenditure on charitable activities
6,7
43,103
43,103
45,920
--------
--------
--------
Total expenditure
43,103
43,103
45,920
--------
--------
--------
--------
--------
--------
Net (expenditure)/income and net movement in funds
( 5,235)
( 5,235)
11,960
--------
--------
--------
Reconciliation of funds
Total funds brought forward
742,933
742,933
730,973
---------
---------
---------
Total funds carried forward
737,698
737,698
742,933
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Nissim
Company Limited by Guarantee
Statement of Financial Position
31 August 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible fixed assets
13
1,086,056
1,110,439
Current assets
Cash at bank and in hand
80,733
110,383
Creditors: amounts falling due within one year
14
47,251
67,118
--------
---------
Net current assets
33,482
43,265
------------
------------
Total assets less current liabilities
1,119,538
1,153,704
Creditors: amounts falling due after more than one year
15
381,840
410,771
------------
------------
Net assets
737,698
742,933
------------
------------
Funds of the charity
Unrestricted funds
737,698
742,933
---------
---------
Total charity funds
16
737,698
742,933
---------
---------
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:
I Abittan
Trustee
Nissim
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 2nd Floor - Parkgates, Bury New Road, Prestwich, Manchester, M25 0TL.
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 held by the charity are funds that can be used in accordance with the charitable objects at the discretion of the trustees.
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.
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:
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
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.
4. Limited by guarantee
Nissim 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
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Donations
Donations
37,868
37,868
57,880
57,880
--------
--------
--------
--------
6. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Educational expenses
41,249
41,249
44,540
44,540
Support costs
1,854
1,854
1,380
1,380
--------
--------
--------
--------
43,103
43,103
45,920
45,920
--------
--------
--------
--------
7. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2025
Total fund 2024
£
£
£
£
Educational expenses
41,249
774
42,023
44,839
Governance costs
–
1,080
1,080
1,081
--------
-------
--------
--------
41,249
1,854
43,103
45,920
--------
-------
--------
--------
8. Analysis of support costs
Analysis of support costs activity 1
Total 2025
Total 2024
£
£
£
General office
774
774
299
Governance costs
1,080
1,080
1,081
-------
-------
-------
1,854
1,854
1,380
-------
-------
-------
9. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2025
2024
£
£
Depreciation of tangible fixed assets
24,383
24,983
--------
--------
10. Independent examination fees
2025
2024
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,080
1,080
-------
-------
11. Staff costs
The average head count of employees during the year was Nil (2024: Nil).
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2024 and 31 August 2025
1,234,154
------------
Depreciation
At 1 September 2024
123,715
Charge for the year
24,383
------------
At 31 August 2025
148,098
------------
Carrying amount
At 31 August 2025
1,086,056
------------
At 31 August 2024
1,110,439
------------
The building is wholly owned by the charity and is being used by a school for educational purposes.
14. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
28,282
27,579
Accruals and deferred income
510
1,080
Other creditors
18,459
38,459
--------
--------
47,251
67,118
--------
--------
15. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
231,340
260,271
Other creditors
150,500
150,500
---------
---------
381,840
410,771
---------
---------
16. Analysis of charitable funds
Unrestricted funds
At 1 September 2024
Income
Expenditure
At 31 August 2025
£
£
£
£
General funds
742,933
37,868
(43,103)
737,698
---------
--------
--------
---------
At 1 September 2023
Income
Expenditure
At 31 August 2024
£
£
£
£
General funds
730,973
57,880
(45,920)
742,933
---------
--------
--------
---------
17. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2025
£
£
Tangible fixed assets
1,086,056
1,086,056
Current assets
80,733
80,733
Creditors less than 1 year
(47,251)
(47,251)
Creditors greater than 1 year
(381,840)
(381,840)
------------
------------
Net assets
737,698
737,698
------------
------------
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
1,110,439
1,110,439
Current assets
110,383
110,383
Creditors less than 1 year
(67,118)
(67,118)
Creditors greater than 1 year
(410,771)
(410,771)
------------
------------
Net assets
742,933
742,933
------------
------------
18. Related parties
Mr R Issler , a trustee of the charity, lent £8,000 to the charity in a previous year, on an interest free basis. This amount is still outstanding at the year end.
19. Taxation
Nissim 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.