REGISTERED CHARITY NUMBER: 1068307
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2021
for
Makor Charitable Trust
Leon & Company Chartered Accountants 100 High Ash Drive Alwoodley Leeds West Yorkshire LS17 8RE
Makor Charitable Trust
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Makor Charitable Trust
Report of the Trustees
for the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1068307
Principal address
MAZC Centre 311 Stonegate Road Leeds West Yorkshire LS17 6AZ
Trustees
Mrs S Woolf S M Cundle I H Delroy
Independent Examiner
Leon & Company Chartered Accountants 100 High Ash Drive Alwoodley Leeds West Yorkshire LS17 8RE
Approved by order of the board of trustees on 24 August 2022 and signed on its behalf by:
S M Cundle - Trustee
Page 1
Independent Examiner's Report to the Trustees of Makor Charitable Trust
Independent examiner's report to the trustees of Makor Charitable Trust
I report to the charity trustees on my examination of the accounts of Makor Charitable Trust (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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 Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts 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.
Jack Posner Leon & Company Chartered Accountants 100 High Ash Drive Alwoodley Leeds West Yorkshire LS17 8RE
24 August 2022
Page 2
Makor Charitable Trust
Statement of Financial Activities
for the Year Ended 31 December 2021
| 31.12.21 | 31.12.20 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 23,102 | - | 23,102 | 20,630 | |
| Charitable activities | |||||
| Administration | 2,292 | - | 2,292 | 4,959 | |
| Other trading activities | 2 | 7,346 | - | 7,346 | 14,249 |
| Investment income | 3 | 3 | - | 3 | 3 |
| Total | 32,743 | - | 32,743 | 39,841 | |
| EXPENDITURE ON | |||||
| Raising funds | - | - | - | 450 | |
| Charitable activities | |||||
| Administration | 15,688 | - | 15,688 | - | |
| Cultural Activities | 16,751 | - | 16,751 | 30,649 | |
| Total | 32,439 | - | 32,439 | 31,099 | |
| NET INCOME | 304 | - | 304 | 8,742 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 23,791 | - | 23,791 | 15,049 | |
| TOTAL FUNDS CARRIED FORWARD | 24,095 | - | 24,095 | 23,791 |
The notes form part of these financial statements
Page 3
Makor Charitable Trust
Balance Sheet
31 December 2021
| 31.12.21 | 31.12.20 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 7 | 230 | - | 230 | 439 |
| CURRENT ASSETS | |||||
| Debtors | 8 | 10,244 | - | 10,244 | 1,785 |
| Cash at bank and in hand | 18,248 | - | 18,248 | 28,050 | |
| 28,492 | - | 28,492 | 29,835 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 9 |
(4,627) | - | (4,627) | (6,483) |
| NET CURRENT ASSETS | 23,865 | - | 23,865 | 23,352 | |
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 24,095 | - | 24,095 | 23,791 |
| NET ASSETS | 24,095 | - | 24,095 | 23,791 | |
| FUNDS | 10 | ||||
| Unrestricted funds | 24,095 | 23,791 | |||
| TOTAL FUNDS | 24,095 | 23,791 |
The financial statements were approved by the Board of Trustees and authorised for issue on 24 August 2022 and were signed on its behalf by:
S M Cundle - Trustee
The notes form part of these financial statements
Page 4
Makor Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2021
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Language school | - | 185 |
| Cultural activities | 7,346 | 12,464 |
| Overseas visits | - | 1,600 |
| 7,346 | 14,249 |
Page 5
continued...
Makor Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
3. INVESTMENT INCOME
Deposit account interest
----- Start of picture text -----
31.12.21 31.12.20
£ £
3 3
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4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| 31.12.21 31.12.20 Administration 1 2 No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total fund fund funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 20,630 - 20,630 Charitable activities Administration 4,959 - 4,959 Other trading activities 14,249 - 14,249 Investment income 3 - 3 Total 39,841 - 39,841 EXPENDITURE ON Raising funds 450 - 450 Charitable activities Cultural Activities 30,649 - 30,649 Total 31,099 - 31,099 NET INCOME 8,742 - 8,742 RECONCILIATION OF FUNDS Total funds brought forward 15,049 - 15,049 |
31.12.21 31.12.20 Administration 1 2 No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total fund fund funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 20,630 - 20,630 Charitable activities Administration 4,959 - 4,959 Other trading activities 14,249 - 14,249 Investment income 3 - 3 Total 39,841 - 39,841 EXPENDITURE ON Raising funds 450 - 450 Charitable activities Cultural Activities 30,649 - 30,649 Total 31,099 - 31,099 NET INCOME 8,742 - 8,742 RECONCILIATION OF FUNDS Total funds brought forward 15,049 - 15,049 |
31.12.21 31.12.20 Administration 1 2 No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total fund fund funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 20,630 - 20,630 Charitable activities Administration 4,959 - 4,959 Other trading activities 14,249 - 14,249 Investment income 3 - 3 Total 39,841 - 39,841 EXPENDITURE ON Raising funds 450 - 450 Charitable activities Cultural Activities 30,649 - 30,649 Total 31,099 - 31,099 NET INCOME 8,742 - 8,742 RECONCILIATION OF FUNDS Total funds brought forward 15,049 - 15,049 |
|---|---|---|
| 39,841 450 30,649 |
||
| 31,099 | ||
| 8,742 15,049 |
Page 6
continued...
Makor Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| fund | fund | funds | ||
| £ | £ | £ | ||
| TOTAL FUNDS CARRIED FORWARD | 23,791 | - | 23,791 | |
| 7. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and | Computer | |||
| fittings | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 January 2021 and 31 December 2021 | 10,752 | 2,354 | 13,106 | |
| DEPRECIATION | ||||
| At 1 January 2021 | 10,685 | 1,982 | 12,667 | |
| Charge for year | 23 | 186 | 209 | |
| At 31 December 2021 | 10,708 | 2,168 | 12,876 | |
| NET BOOK VALUE | ||||
| At 31 December 2021 | 44 | 186 | 230 | |
| At 31 December 2020 | 67 | 372 | 439 | |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Other debtors | 9,967 | 1,500 | ||
| Prepayments | 277 | 285 | ||
| 10,244 | 1,785 | |||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Taxation and social security | 2,013 | 2,744 | ||
| Other creditors | 2,614 | 3,739 | ||
| 4,627 | 6,483 |
Page 7
continued...
Makor Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||
|---|---|---|
| Net | ||
| movement | At | |
| At 1.1.21 | in funds | 31.12.21 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 23,791 |
304 | 24,095 |
| TOTAL FUNDS 23,791 |
304 | 24,095 |
| Net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 32,743 |
(32,439) | 304 |
| TOTAL FUNDS 32,743 |
(32,439) | 304 |
| Comparatives for movement in funds | ||
| Net | ||
| movement | At | |
| At 1.1.20 | in funds | 31.12.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 15,049 |
8,742 | 23,791 |
| TOTAL FUNDS 15,049 |
8,742 | 23,791 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 39,841 |
(31,099) | 8,742 |
| TOTAL FUNDS 39,841 |
(31,099) | 8,742 |
Page 8
continued...
Makor Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.1.20 in funds 31.12.21 £ £ £ 15,049 9,046 24,095 15,049 9,046 24,095 |
Net movement At At 1.1.20 in funds 31.12.21 £ £ £ 15,049 9,046 24,095 15,049 9,046 24,095 |
|---|---|---|
| 24,095 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 72,584 | (63,538) | 9,046 |
| TOTAL FUNDS | 72,584 | (63,538) | 9,046 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 9
Makor Charitable Trust
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2021 | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 23,102 | 20,630 |
| Other trading activities | ||
| Language school | - | 185 |
| Cultural activities | 7,346 | 12,464 |
| Overseas visits | - | 1,600 |
| 7,346 | 14,249 | |
| Investment income | ||
| Deposit account interest | 3 | 3 |
| Charitable activities | ||
| Grants | 2,292 | 4,959 |
| Total incoming resources | 32,743 | 39,841 |
| EXPENDITURE | ||
| Other trading activities | ||
| Language School | - | 450 |
| Charitable activities | ||
| Wages | 15,688 | 19,879 |
| Other operating leases | 10,477 | 2,500 |
| Insurance | 839 | 836 |
| Telephone | 594 | 438 |
| Postage and stationery | 1,060 | 2,130 |
| Advertising | 69 | 129 |
| Travel and subsistence | - | 1,200 |
| Performers and event costs | 1,915 | 1,522 |
| Films and books | 104 | 359 |
| Repairs and renewals | 104 | 217 |
| Depn of fixtures & fittings | 23 | 23 |
| Depn of computer equipment | 186 | 186 |
| 31,059 | 29,419 | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 1,380 | 1,230 |
| Total resources expended | 32,439 | 31,099 |
| Net income | 304 | 8,742 |
This page does not form part of the statutory financial statements
Page 10