REGISTERED CHARITY NUMBER: 1044649
Report of the Trustees and
Financial Statements FOR THE YEAR ENDED 31 August 2024
for
MENORAH FOUNDATION
Melinek Fine LLP Chartered Accountants Statutory Auditors First Floor, Winston House 349 Regents Park Road London N3 1DH
MENORAH FOUNDATION
Contents of the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Report of the Independent Auditors | 4 to 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Cash Flow Statement | 9 |
| Notes to the Cash Flow Statement | 10 |
| Notes to the Financial Statements | 11 to 15 |
| Detailed Statement of Financial Activities | 16 |
MENORAH FOUNDATION
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 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 Objectives and aims
The objectives of the charity are as follows:
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To advance Orthodox Jewish Education, including, in particular, but without prejudice, as to the generality of the aforegoing, providing financial support to the Menorah Foundation School.
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To advance the religion of the Jewish faith in accordance with Orthodox practice.
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Other purposes as are recognised by the law of England and Wales as charitable.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trustees consider that the performance of the Charity this year has been satisfactory.
The Trustees are pleased to report that the charity has continued to be able to support the Menorah Foundation School, with increased donations during the year.
The School continues to develop, and the Trustees are proud to be able to support the institution. Particularly, the Trustees were happy to be able to continue to develop the school site, with additional air conditioning plant, a renewal of the school hall ceiling and additional office space development.
FINANCIAL REVIEW
Financial position
The Statement of Financial Activities shows a surplus of £88,681 for the year (2023: £54,355). As at the year end, our reserves stand at a surplus of £2,616,992 (2023: £2,528,311). These surplus funds have been invested into the school building to enhance facilities for pupils at the school.
The Trustees consider that the performance of the Charity this year has been satisfactory. During the year the Charity has raised £1,109,683 (2023: £1,358,619) from donations and gifts. The Charity's cash reserves stood at £122,821 (unrestricted fund) and £18,586 (restricted fund).
Additional funds have subsequently been raised to enable the Charity to continue in operation for the foreseeable future.
Reserves policy
The charity's reserves policy is to maintain sufficient reserves to enable the charity to continue its activities and services at a meaningful level, should there be a drop in income. As all income is derived from voluntary donations, the trustees review this position on a regular basis.
In view of this the trustees aim to maintain a level of reserves sufficient to provide financial stability and flexibility.
FUTURE PLANS
Across the education sector, funding is becoming an increasing challenge. The trustees are determined that the level of education in the school should not be affected by the reduced resources offered by the government. To this end, the trustees are working on fundraising to enable the charity to continue to make donations to support the school's educational activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity was established by a Trust Deed dated 10th April 1992 as amended by a Supplemental Deed dated 14th February 1995.
Page 1
MENORAH FOUNDATION
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
Appointment of Trustees is governed by the Trust Deed of the Charity. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Trustee. The Trust Deed authorises the Trustees to make and hold investments using the general funds of the Charity, but no such investments are presently held.
Induction and training of new trustees
Any new trustees would upon appointment be fully trained by existing trustees and external training courses to ensure they achieve and maintain the high standards that are expected of them.
Risk management
The principal risks facing the Charity stem from the economic strength of the U.K. economy, which has a direct impact upon the level of donations it receives from its donors. The trustees have due regard to the level of donations received when determining the Charity's financial capacity to support its key beneficiary.
The Trustees actively review the major risks which the Charity faces on a regular basis and believe that maintaining reserves at current levels, combined with annual reviews of key financial systems, will provide sufficient resources in the event of adverse conditions.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1044649
Principal address
13 Beaufort Gardens London NW4 3QN
Trustees
Mr A M Jacobs, BEM Mr A Korman (appointed 1.11.23) Mr N B Jackson (appointed 1.11.23) Mrs D M Meshulam (appointed 1.11.23) Mr D Wulwick Mr P M Kreditor (resigned 12.2.24) Mr S J Goldberg (resigned 12.2.24) Mr B M Finger (appointed 12.2.24) Mr B M Stern (appointed 12.2.24) Mr J Kon (resigned 1.11.23) Mr A J Perrin (resigned 1.11.23)
Auditors
Melinek Fine LLP Chartered Accountants Statutory Auditors First Floor, Winston House 349 Regents Park Road London N3 1DH
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees 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).
Page 2
MENORAH FOUNDATION
Report of the Trustees
FOR THE YEAR ENDED 31 AUGUST 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 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 charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
23/06/25
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. AdwanGacebe Mr A M Jacobs, BEM - Trustee
Page 3
Report of the Independent Auditors to the Trustees of Menorah Foundation
Opinion
We have audited the financial statements of Menorah Foundation (the 'charity') for the year ended 31 August 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).
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In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 August 2024 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
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 charity 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 charity'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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Page 4
Report of the Independent Auditors to the Trustees of Menorah Foundation
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the trustees and other management (as required by auditing standards).
We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting (including related legislation) and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statements items.
With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the trustees and management.
We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that 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 deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.
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.
Page 5
Report of the Independent Auditors to the Trustees of Menorah Foundation
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Aryeh Melinek (Jun 23, 2025 11:10 GMT+1)
Melinek Fine LLP Chartered Accountants Statutory Auditors First Floor, Winston House 349 Regents Park Road London N3 1DH Date: ............................................. 23/06/25
Page 6
MENORAH FOUNDATION
Statement of Financial Activities
FOR THE YEAR ENDED 31 AUGUST 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Charitable activities 4 Grants to Menorah Foundation School Other charitable activities Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 1,234,629 2,084 1,236,713 992,216 155,816 1,148,032 88,681 2,463,311 2,551,992 |
Restricted fund £ - - - - - - - 65,000 65,000 |
2024 Total funds £ 1,234,629 2,084 1,236,713 992,216 155,816 1,148,032 88,681 2,528,311 2,616,992 |
2023 Total funds £ 1,553,183 1,147 1,554,330 1,372,487 127,488 1,499,975 54,355 2,473,956 2,528,311 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 7
MENORAH FOUNDATION
Balance Sheet
31 AUGUST 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 11 | 2,430,886 | 46,414 | 2,477,300 | 2,339,724 |
| CURRENT ASSETS | |||||
| Debtors | 12 | 4,885 | - | 4,885 | 2,523 |
| Cash at bank | 122,821 | 18,586 | 141,407 | 206,464 | |
| 127,706 | 18,586 | 146,292 | 208,987 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 13 | (6,600) | - | (6,600) | (20,400) |
| NET CURRENT ASSETS | 121,106 | 18,586 | 139,692 | 188,587 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 2,551,992 | 65,000 | 2,616,992 | 2,528,311 | |
| NET ASSETS | 2,551,992 | 65,000 | 2,616,992 | 2,528,311 | |
| FUNDS | 14 | ||||
| Unrestricted funds | 2,551,992 | 2,463,311 | |||
| Restricted funds | 65,000 | 65,000 | |||
| TOTAL FUNDS | 2,616,992 | 2,528,311 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 23/06/25
............................................. Adan acaba Mr A M Jacobs, BEM - Trustee
The notes form part of these financial statements
Page 8
MENORAH FOUNDATION
Cash Flow Statement
FOR THE YEAR ENDED 31 AUGUST 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2024 £ 148,897 148,897 (216,038) 2,084 (213,954) (65,057) 206,464 141,407 |
2023 £ 144,961 144,961 (152,886) 1,147 (151,739) (6,778) 213,242 206,464 |
|---|---|---|
The notes form part of these financial statements
Page 9
MENORAH FOUNDATION
Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 AUGUST 2024
| 1. | RECONCILIATION OF NET INCOME TO NET CASH | FLOW FROM OPERATING ACTIVITIES | FLOW FROM OPERATING ACTIVITIES | |
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement of | ||||
| Financial Activities) | 88,681 | 54,355 | ||
| Adjustments for: | ||||
| Depreciation charges | 78,461 | 76,691 | ||
| Interest received | (2,084) | (1,147) | ||
| (Increase)/decrease in debtors | (2,361) | 8,462 | ||
| (Decrease)/increase in creditors | (13,800) | 6,600 | ||
| Net cash provided by operations | 148,897 | 144,961 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.9.23 | Cash flow | At 31.8.24 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 206,464 | (65,057) | 141,407 | |
| 206,464 | (65,057) | 141,407 | ||
| Total | 206,464 | (65,057) | 141,407 |
The notes form part of these financial statements
Page 10
MENORAH FOUNDATION
Notes to the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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.
| Long leasehold | - 2% on cost |
|---|---|
| Plant and machinery | - 20% on reducing balance |
| Fixtures and fittings | - 25% on reducing balance |
| Computer equipment | - 33% on cost |
Taxation
The charity is exempt from 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 explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| Donations Gift aid Grants Grants received, included in the above, are as follows: Department of Education grant for capital improvements |
2024 £ 1,040,106 69,461 125,062 1,234,629 2024 £ 125,062 |
2023 £ 1,281,429 77,190 194,564 1,553,183 2023 £ 194,564 |
|---|---|---|
Grants received, included in the above, are as follows:
continued...
Page 11
MENORAH FOUNDATION
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
| 3. | INVESTMENT INCOME | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Deposit account interest | 2,084 | 1,147 |
4. CHARITABLE ACTIVITIES COSTS
| Grants to Menorah Foundation School Other charitable activities |
Direct Costs £ - 142,565 142,565 |
Grant funding of activities (see note 5) £ 992,216 6,363 998,579 |
Support costs (see note 6) £ - 6,888 6,888 |
Totals £ 992,216 155,816 |
|---|---|---|---|---|
| 1,148,032 |
Included within other charitable activities are depreciation charges of £78,462 (2023: £78,452), a breakdown of which can be found in note 11.
| 5. GRANTS PAYABLE Grants to Menorah Foundation School Other charitable activities |
2024 £ 992,216 6,363 998,579 |
2023 £ 1,372,487 280 |
|---|---|---|
| 1,372,767 |
6. SUPPORT COSTS
7.
| SUPPORT COSTS | |||
|---|---|---|---|
| Bank | Governance | ||
| charges | costs | Totals | |
| £ | £ | £ | |
| Other charitable activities | 288 | 6,600 | 6,888 |
| AUDITORS' REMUNERATION | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the charity's auditors for the audit of the charity's financial | |||
| statements | 4,800 | 4,800 | |
| Auditors' remuneration for non audit work | 1,800 | 1,800 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
continued...
Page 12
MENORAH FOUNDATION
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
9. STAFF COSTS
There were no staff costs for the year ended 31 August 2024 nor for the year ended 31 August 2023.
10. FINANCIAL INSTRUMENTS
The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried al amortised cost using the effective interest method, less any impairment.
11. TANGIBLE FIXED ASSETS
| COST At 1 September 2023 Additions At 31 August 2024 DEPRECIATION At 1 September 2023 Charge for year At 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023 |
Assets under construction £ 46,414 - 46,414 - - - 46,414 46,414 |
Long leasehold £ 2,890,910 216,038 3,106,948 662,344 62,139 724,483 2,382,465 2,228,566 |
Plant and machinery £ 145,338 - 145,338 108,043 7,459 115,502 29,836 37,295 |
|---|---|---|---|
continued...
Page 13
MENORAH FOUNDATION
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
11. TANGIBLE FIXED ASSETS - continued
| 11. | TANGIBLE FIXED ASSETS - continued | ||||
|---|---|---|---|---|---|
| Fixtures | |||||
| and | Computer | ||||
| fittings | equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 September 2023 | 51,572 | 58,303 | 3,192,537 | ||
| Additions | - | - | 216,038 | ||
| At 31 August 2024 | 51,572 | 58,303 | 3,408,575 | ||
| DEPRECIATION | |||||
| At 1 September 2023 | 32,131 | 50,295 | 852,813 | ||
| Charge for year | 4,861 | 4,003 | 78,462 | ||
| At 31 August 2024 | 36,992 | 54,298 | 931,275 | ||
| NET BOOK VALUE | |||||
| At 31 August 2024 | 14,580 | 4,005 | 2,477,300 | ||
| At 31 August 2023 | 19,441 | 8,008 | 2,339,724 | ||
| The assets under construction account pertains to the ongoing | construction of a new school | hall. | As of the | ||
| balance sheet date, the construction had not been completed. Consequently, the asset has not been subjected to | |||||
| depreciation. Additionally, the previously recorded depreciation related to this asset has been reversed. | |||||
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Other debtors | 4,885 | 2,523 | |||
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Other creditors | 6,600 | 20,400 | |||
| 14. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.9.23 | in funds | 31.8.24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 2,463,311 | 88,681 | 2,551,992 | ||
| Restricted funds | |||||
| Restricted fund | 65,000 | - | 65,000 | ||
| TOTAL FUNDS | 2,528,311 | 88,681 | 2,616,992 |
continued...
Page 14
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
MENORAH FOUNDATION
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 1,236,713 1,236,713 |
Resources expended £ (1,148,032) (1,148,032) |
Movement in funds £ 88,681 88,681 |
|---|---|---|---|
Comparatives for movement in funds
| At 1.9.22 £ Unrestricted funds General fund 2,408,956 Restricted funds Restricted fund 65,000 TOTAL FUNDS 2,473,956 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 1,554,330 TOTAL FUNDS 1,554,330 |
Net movement in funds £ 54,355 - 54,355 Resources expended £ (1,499,975) (1,499,975) |
At 31.8.23 £ 2,463,311 65,000 2,528,311 Movement in funds £ 54,355 54,355 |
|---|---|---|
15. RELATED PARTY DISCLOSURES
Grants totalling £992,216 (2023: £1,372,487) were made during the year to Menorah Foundation School, a Voluntary Aided School. The Trustees of Menorah Foundation appoint the majority of the Governors of Menorah Foundation School.
Menorah Foundation School occupies the premises of the leasehold property held by the charity at Abbots Road, Edgware, Middlesex, on a rent free basis.
Page 15
MENORAH FOUNDATION
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Legal and professional fees Educational resources Sundries Depn assets under construction Depn of long leasehold Depn of security equipment Depn of plant & machinery Depn of fixtures & fittings Depn of computer equipment Grants to institutions Support costs Bank charges Bank charges Governance costs Auditors' remuneration Auditors' remuneration for non audit work Total resources expended Net income |
2024 £ 1,040,106 69,461 125,062 1,234,629 2,084 1,236,713 17,347 44,758 1,999 - 62,139 - 7,459 4,860 4,003 998,579 1,141,144 288 4,800 1,800 6,600 1,148,032 88,681 |
2023 £ 1,281,429 77,190 194,564 1,553,183 1,147 1,554,330 11,119 28,576 3,962 (833) 57,717 3,847 9,324 2,633 4,003 1,372,767 1,493,115 260 4,800 1,800 6,600 1,499,975 54,355 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
Menorah Foundation Year End Accounts-
Final Audit Report
2025-06-23
Created: 2025-06-23 By: Yehuda Neuberger (businessmanager@menorahfoundation.co.uk) Status: Signed Transaction ID: CBJCHBCAABAA5rd9HszxmzKKSh8_X-fKAX3cNpE76imY
"Menorah Foundation Year End Accounts-" History
Document created by Yehuda Neuberger (businessmanager@menorahfoundation.co.uk) 2025-06-23 - 9:26:37 AM GMT- IP address: 5.150.99.34
Document emailed to Adrian Jacobs BEM (adrian@adrianjacobs.co.uk) for signature
2025-06-23 - 9:26:43 AM GMT
Document emailed to aryeh@melinekfine.com for signature
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- Email viewed by Adrian Jacobs BEM (adrian@adrianjacobs.co.uk)
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- Document e-signed by Adrian Jacobs BEM (adrian@adrianjacobs.co.uk)
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Email viewed by aryeh@melinekfine.com
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- Signer aryeh@melinekfine.com entered name at signing as Aryeh Melinek
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- Document e-signed by Aryeh Melinek (aryeh@melinekfine.com)
Signature Date: 2025-06-23 - 10:10:08 AM GMT - Time Source: server- IP address: 31.94.31.63
Agreement completed.
2025-06-23 - 10:10:08 AM GMT