CHARITY REGISTRATION NUMBER: 1070877
BRITISH FRIENDS OF MOSDOS TCHERNOBEL
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
31 MARCH 2024
CHS ACCOUNTANTS LIMITED
45 STAMFORD HILL
LONDON N16 5SR
BRITISH FRIENDS OF MOSDOS TCHERNOBEL
BRITISH FRIENDS OF MOSDOS TCHERNOBEL CHARITABLE TRUST FINANCIAL STATEMENTS 31 MARCH 2024
| Pages | |
|---|---|
| Trustees' Annual Report | 2 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Statement of Cash flows | 7 |
| Notes to the Accounts | 8 |
Page 1
BRITISH FRIENDS OF MOSDOS TCHERNOBEL TRUSTEES ANNUAL REPORT
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1070877
Principal and Registered Office
160 Holmleigh Road
London
N16 5PY
Trustees
The following trustees served during the year:
A Schechter
N B Bindiger
Independent Examiners
CHS Accountants Limited
45 Stamford Hill
London N16 5SR
OBJECTIVES AND ACTIVITIES
The charity's objectives are (a) the advancement of the Orthodox Jewish religion (b) the advancement of Orthodox Jewish religious education and education generally (c) the relief of poverty (d) such other charitable objects as the Trustees from time to time determine.
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives in planning future events.
ACHIEVEMENTS AND PERFORMANCE
The charity employs its funds and resources to advance the Orthodox Jewish Religion, Orthodox Jewish Education and the Relief of Poverty.
During the year the charity made grants totalling £853,393 (2023: £1,070,095)
The financial results for the year to 31 March 2024 are fully reflected in the attached Financial Statements and the Notes thereon.
FINANCIAL REVIEW
Reserves Policy
The charity's policy is to maintain Unrestricted funds at a level which the trustees deem appropriate after considering future commitments and the likely costs for the next year.
As at 31 March 2024 the charity had a deficit of Unrestricted Funds of £63,300 (2023 deficit £121,519). This is expected to be rectified in the current year.
Grant Making Policy
The charity makes grants in furtherance of its charitable objectives.
In making these grants the trustees use their personal knowledge and experience of the causes and institutions supported. The trustees monitor the application of funds by regular formal and informal correspondence.
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BRITISH FRIENDS OF MOSDOS TCHERNOBEL TRUSTEES ANNUAL REPORT
PRINCIPAL RISKS AND UNCERTAINTIES
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed, in particular operational and financial risks and are satisfied that appropriate systems are in place to manage and mitigate these risks.
PLANS FOR FUTURE PERIODS
The charity plans to continue its current activities in future periods.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a registered charity (charity number 1070877) and is governed by a Trust Deed dated 6 April 1998.
The trustees administer the day-to-day affairs of the charity. None of the Trustees have beneficial interest in the charity.
STATEMENT OF COMPLAINCE
The charity is a public benefit entity, a registered charity in England and Wales and is unincorporated. The address of the principal office is 16 Holmleigh Road, London N16 5PY.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
A Schechter Trustee
30 January 2025
Page 3
BRITISH FRIENDS OF MOSDOS TCHERNOBEL INDEPENDENT EXAMINERS REPORT
Independent Examiner's Report to the trustees of BRITISH FRIENDS OF MOSDOS TCHERNOBEL
I report to the trustees on my examination of the financial statements of BRITISH FRIENDS OF MOSDOS TCHERNOBEL for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
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.
Independent examiner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW.
I have completed my examination. I can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
P Shebson ACA
CHS Accountants Limited 45 Stamford Hill London N16 5SR 30 January 2025
Page 4
BRITISH FRIENDS OF MOSDOS TCHERNOBEL STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
| Notes Income and endowments from: Donations and legacies 3 Other 4 Total Expenditure on: Raising funds 5 Charitable activities 6 Other 8 Total Net losses on investments Net income/(expenditure) 9 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds |
|---|---|---|---|
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| 957,211 | 957,211 | 999,108 | |
| 159 | 159 | - | |
| 957,370 | 957,370 | 999,108 | |
| 20,331 | 20,331 | 50,722 | |
| 856,393 | 856,393 | 1,070,095 | |
| 22,427 | 22,427 | 21,830 | |
| 899,151 | 899,151 | 1,142,647 | |
| - | - | (407) | |
| 58,219 | 58,219 | (143,946) | |
| 58,219 | 58,219 | (143,946) | |
| (121,519) | (121,519) | 22,427 | |
| (63,300) | (63,300) | (121,519) | |
Page 5
BRITISH FRIENDS OF MOSDOS TCHERNOBEL BALANCE SHEET
AS AT 31 MARCH 2024
| Charity No. 1070877 Current assets Debtors 11 Cash at bank and in hand Creditors: Amount falling due within one year 12 Net current liabilities Total assets less current liabilities Creditors: Amounts falling due after more than one year 13 Total net liabilities The funds of the charity Unrestricted funds 14 General funds Designated funds Total funds |
2024 £ 19,720 47,868 67,588 (120,216) (52,628) (52,628) (10,672) (63,300) (63,300) - (63,300) (63,300) |
2023 £ 19,720 67,584 |
|---|---|---|
| 87,304 (185,448) |
||
| (98,144) (98,144) (23,375) |
||
| (121,519) | ||
| (121,519) - |
||
| (121,519) | ||
| (121,519) |
Approved by the trustees on 30 January 2025
And signed on their behalf by:
A Schechter Trustee 30 January 2025
Page 6
BRITISH FRIENDS OF MOSDOS TCHERNOBEL STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
| Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Increase in trade and other receivables (Decrease)/Increase in trade and other payables Net cash used in operating activities Cash flows from investing activities Proceeds from sales of property, plant and equipment Dividends, interest and rents from investments Net cash from investing activities Cash flows from financing activities Repayment of borrowings Net cash (used in)/from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2024 £ 58,219 (159) - (63,026) (4,966) - 159 159 (14,909) (14,909) (19,716) 67,584 47,868 |
2023 £ (143,946) - (19,720) 139,800 |
|---|---|---|
| (23,866) 2,849 - |
||
| 2,849 | ||
| 34,023 | ||
| 34,023 | ||
| 13,006 | ||
| - | ||
| 13,006 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 47,868 | 67,584 |
| Bank overdrafts | - | - |
| 47,868 | 67,584 |
Page 7
BRITISH FRIENDS OF MOSDOS TCHERNOBEL NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of income Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is reported gross expenditure in the SoFA.
Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the gift/donation to donations and gifts which it relates. Donated services and These are only included in income (with an equivalent amount in expenditure) where the facilities benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. This includes any gain or loss resulting from revaluing investments to market value at the Gains/(losses) on end of the year. revaluation of fixed assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
BRITISH FRIENDS OF MOSDOS TCHERNOBEL NOTES TO THE ACCOUNTS
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot expenditure be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on raising These comprise the costs associated with attracting voluntary income, fundraising trading funds costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and services charitable activities in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation where relevant is provided in order to write off each asset over its estimated useful life.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Intangible fixed assets and amortisation
Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 9
BRITISH FRIENDS OF MOSDOS TCHERNOBEL NOTES TO THE ACCOUNTS
3 Income from donations and legacies
| Donations 4 Other income Bank Interest |
Unrestricted £ 957,211 957,211 Unrestricted £ 159 159 |
Restricted £ - - Restricted £ - - |
Endowment £ - - Endowment £ - - |
Total 2024 £ 957,211 957,211 Total 2024 £ 159 159 |
Total 2023 £ 999,108 |
|---|---|---|---|---|---|
| 999,108 | |||||
| Total 2023 £ - |
|||||
| - | |||||
| Total 2023 £ 50,722 |
|||||
| 50,722 | |||||
| Total 2023 £ 1,070,095 1,980 |
Page 10
BRITISH FRIENDS OF MOSDOS TCHERNOBEL NOTES TO THE ACCOUNTS
- 7 Analysis of grants
| Analysis of grants | |||||||
|---|---|---|---|---|---|---|---|
| Grants to | Grants to | Support | |||||
| Activity or programme | Institutions | Individuals | Costs | Total | Total | ||
| 2024 | 2023 | ||||||
| £ | £ | £ | £ | £ | |||
| Grants to institutions | 853,393 | - | - | 853,393 | 1,070,095 | ||
| 853,393 | - | - | 853,393 | 1,070,095 |
£
| Gaon Tzvi Yisamach Lev Merkaz De Chasidei Tchernobel Other grants |
524,255 238,500 35,650 54,988 |
|---|---|
| 853,393 |
Grants are made to institutions in the UK and overseas whose objectives are in line with the charity's own.
8 Other expenditure
| Unrestricted £ Bank loan and overdraft interest payable 739 Other interest payable 6,160 Motor and travel costs 1,700 Premises costs 6,064 General administrative costs 5,340 Legal and professional costs 2,424 22,427 Net income/(expenditure) before transfers This is stated after charging: Depreciation of owned fixed assets Independent Examiner's fee |
Restricted £ - - - - - - - |
Endowment £ - - - - - - - 2024 £ - 3,000 |
Total 2024 £ 739 6,160 1,700 6,064 5,340 2,424 22,427 |
Total 2023 £ - - - - 19,850 1,980 |
|---|---|---|---|---|
| 21,830 | ||||
| 2023 £ - 1,980 |
9 Net income/(expenditure) before transfers
10 Trustee remuneration and expenses
None of the trustees have been paid any remuneration in the current or prior periods.
None of the trustees have been paid any expenses in the current or prior periods.
11 Debtors
| Other debtors | 2024 £ 19,720 19,720 |
2023 £ 19,720 |
|---|---|---|
| 19,720 |
Page 11
BRITISH FRIENDS OF MOSDOS TCHERNOBEL NOTES TO THE ACCOUNTS
12 Creditors:
amounts falling due within one year
| Creditors: amounts falling due within one year |
||||
|---|---|---|---|---|
| Bank loans and overdrafts Trade creditors Other creditors |
2024 £ 8,442 4,185 104,589 |
2023 £ 10,648 4,131 168,689 |
||
| Accruals | 3,000 | 1,980 | ||
| Creditors: amounts falling due after more than one year Bank loans and overdrafts Movement in funds At 1 April 2023 Unrestricted funds: General funds (121,519) Total funds (121,519) Analysis of net assets between funds Net current assets Creditors due in more than one year and provisions |
Incoming resources (including other gains/losses) £ 957,370 957,370 Unrestricted funds £ (52,628) (10,672) (63,300) |
120,216 2024 £ 10,672 10,672 Resources expended £ (899,151) (899,151) Restricted funds £ - - - |
Gross transfers £ - - Endowment funds £ - - - |
185,448 |
| 2023 £ 23,375 |
||||
| 23,375 | ||||
| At 31 March 2024 £ (63,300) |
||||
| (63,300) | ||||
| Total £ (52,628) (10,672) |
||||
| (63,300) |
13 Creditors:
14 Movement in funds
15 Analysis of net assets between funds
16 Related party disclosures
Other than any mentioned above there were no related party transactions during the year.
Page 12