CHARITY REGISTRATION NUMBER: 1053970
The Friends of Maase Tsedokoh Unaudited Financial Statements 31 March 2024
HAFFNER HOFF LTD
Chartered accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
The Friends of Maase Tsedokoh
Financial Statements
Year ended 31 March 2024
| Pages | |
|---|---|
| Trustees' annual report | 1 to 2 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 to 10 |
The Friends of Maase Tsedokoh
Trustees' Annual Report
Year ended 31 March 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
| Registered charity name | The Friends of Maase Tsedokoh |
|---|---|
| Charity registration number | 1053970 |
| Principal office | 43 Northumberland Street |
| Salford | |
| M7 4DQ | |
| The trustees | |
| B D Warfman | |
| H Warfman | |
| Independent examiner | D Schwarz FCCA |
| 2nd Floor - Parkgates | |
| Bury New Road | |
| Prestwich | |
| Manchester | |
| M25 0TL |
Structure, governance and management
The Friends of Maaseh Tsedokoh is a charitable trust constituted by a Deed of Trust dated 31 January 1996 and is a registered charity, number 1060090.
Both trustees have held office since the Trust was established. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Objectives and activities
The objectives of the charity are to benefit charitable purposes and charitable institutions, and in particular to support and further the objects of the Registered Charity in Israel, known as “Maase Tsedokoh”, a charity set up for the relief of poverty.
The policy of the charity continues to be to seek donations from companies and individuals to be transferred to the above charity. The trustees meet regularly to consider such issues as grant making and reserves and to review feedback.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
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The Friends of Maase Tsedokoh
Trustees' Annual Report (continued)
Year ended 31 March 2024
Achievements and performance
During the year the charity made grants totalling £169,000 to institutions in accordance with its objects.
Financial review
As at 31 March 2024 The charity held free reserves of (£30,032) (2023: -£37,498).
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the charity's policy to maintain cash reserves of approximately two months of their average annual grants, to enable the charity to continue making grants.
Risk Management
The trustees regularly review any risks the charity faces and maintain a cash reserve at a level sufficient to meet short-term adverse conditions. The charity has borrowed monies to enable the charity to continue to make grants (see note 17 to the accounts).
The trustees' annual report was approved on 21 January 2025 and signed on behalf of the board of trustees by:
B D Warfman Trustee
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The Friends of Maase Tsedokoh
Independent Examiner's Report to the Trustees of The Friends of Maase Tsedokoh
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of The Friends of Maase Tsedokoh ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material 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 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
21 January 2025
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The Friends of Maase Tsedokoh
Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 177,375 | 177,375 | 357,620 |
| Investment income | 5 | 66 | 66 | 10 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 177,441 | 177,441 | 357,630 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 169,975 | 169,975 | 361,359 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 169,975 | 169,975 | 361,359 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income/(expenditure) and net movement in funds | 7,466 | 7,466 | (3,729) | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | (37,498) | (37,498) | (33,769) | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | (30,032) | (30,032) | (37,498) | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 10 form part of these financial statements.
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The Friends of Maase Tsedokoh
Statement of Financial Position
31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 11,683 | 9,947 | ||
| Creditors: amounts falling due within one year | 13 | 41,715 | 47,445 | |
| ---------------------------- | ---------------------------- | |||
| Net current liabilities | 30,032 | 37,498 | ||
| ---------------------------- | ---------------------------- | |||
| Total assets less current liabilities | (30,032) | (37,498) | ||
| ---------------------------- | ---------------------------- | |||
| Net liabilities | (30,032) | (37,498) | ||
| ============================ | ============================ | |||
| Funds of the charity | ||||
| Unrestricted funds | (30,032) | (37,498) | ||
| ---------------------------- | ---------------------------- | |||
| Total charity funds | 14 | (30,032) | (37,498) | |
| ============================ | ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 21 January 2025, and are signed on behalf of the board by:
B D Warfman Trustee
The notes on pages 6 to 10 form part of these financial statements.
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The Friends of Maase Tsedokoh
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 43 Northumberland Street, Salford, M7 4DQ.
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 Charities Act 2011.
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 at the year end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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The Friends of Maase Tsedokoh
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Charitable activities are made up of grants to individuals.
Expenditure also includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Governance costs are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 177,375 | 177,375 | 357,620 | 357,620 | |
| ================================ | ================================ | ================================ | ================================ | ||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 66 | 66 | 10 | 10 | |
| ============== | ============== | ============== | ============== |
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The Friends of Maase Tsedokoh
Notes to the Financial Statements (continued)
Year ended 31 March 2024
6. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds |
Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 |
Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Charitable activities | 169,000 | 169,000 |
360,400 | 360,400 | |
| Support costs | 975 | 975 |
959 | 959 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 169,975 | 169,975 |
361,359 | 361,359 | ||
| ================================ | ================================ | ================================ | ================================ | ||
| 7. | Expenditure on charitable activities by activity type | ||||
| Grant funding | Support |
Total funds | Total fund | ||
| of activities | costs |
2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Support Costs | – | 105 |
105 | 90 | |
| Charitable activities | 169,000 | – |
169,000 | 360,400 | |
| Governance costs | – | 870 |
870 | 869 | |
| -------------------------------- | -------------- | -------------------------------- | -------------------------------- | ||
| 169,000 | 975 |
169,975 | 361,359 | ||
| ================================ | ============== | ================================ | ================================ | ||
| 8. | Analysis of support costs | ||||
| Analysis of | |||||
| support costs | Total 2024 | Total 2023 | |||
| £ | £ | £ | |||
| General office | 105 | 105 | 90 | ||
| Governance costs | 870 | 870 | 870 | ||
| -------------- | -------------- | -------------- | |||
| 975 | 975 | 960 | |||
| ============== | ============== | ============== | |||
| 9. | Analysis of grants | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Grants to institutions | |||||
| Maase Tzedokoh | 169,000 | 360,400 | |||
| -------------------------------- | -------------------------------- | ||||
| Total grants | 169,000 | 360,400 | |||
| ================================ | ================================ |
Maase Tzedokoh is a registered charity in Israel, set up for the relief of poverty.
The above grants were made to institutions and went towards the following purposes; the relief of poverty, relief of those in need by reason of ill health or disability, the advancement of Jewish religion and the advancement of Jewish religious education.
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The Friends of Maase Tsedokoh
Notes to the Financial Statements (continued)
Year ended 31 March 2024
10. Independent examination fees
Fees payable to the independent examiner for: Independent examination of the financial statements
| 2024 | 2023 |
|---|---|
| £ | £ |
| 870 | 870 |
| ============== | ============== |
11. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: 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. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,865 | 995 |
| Other creditors | 39,850 | 46,450 |
| ---------------------------- | ---------------------------- | |
| 41,715 | 47,445 | |
| ============================ | ============================ |
14. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | April 2023 | Income | Expenditure | 31 March 24 | |
| £ | £ | £ | £ | ||
| General funds | (37,498) | 177,441 | (169,975) | (30,032) |
|
| ============================ | ================================ | ================================ | ============================ | ||
| At | At | ||||
| 1 | April 2022 | Income | Expenditure | 31 March 23 | |
| £ | £ | £ | £ | ||
| General funds | (33,769) | 357,630 | (361,359) | (37,498) |
|
| ============================ | ================================ | ================================ | ============================ |
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The Friends of Maase Tsedokoh
Notes to the Financial Statements (continued)
Year ended 31 March 2024
15. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Current assets | 11,683 | 11,683 |
| Creditors less than 1 year | (41,715) | (41,715) |
| ---------------------------- | ---------------------------- | |
| Net liabilities | (30,032) | (30,032) |
| ============================ | ============================ | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Current assets | 9,947 | 9,947 |
| Creditors less than 1 year | (47,445) | (47,445) |
| ---------------------------- | ---------------------------- | |
| Net liabilities | (37,498) | (37,498) |
| ============================ | ============================ |
16. Related parties
Other creditors includes £10,000 owing to Wilkincroft Ltd, a company which B Warfman is a director, £20,850 to The Friends Of Asos Chesed, a charity of which B D Warfman is a trustee, and £9,000 owing to Daas Kedoshim Foundation, a charity of which Mrs H Warfman is a trustee. The loans are interest free and repayable on demand.
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