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2022-12-31-accounts

REGISTERED COMPANY NUMBER: 04332855 (England and Wales) REGISTERED CHARITY NUMBER: 1096711

ICHUD MOSDOS GUR LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS

ICHUD MOSDOS GUR LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Report of the Independent Auditors 4 to 6
Statement of Financial Activities 7
Statement of Financial Position 8
Statement of Cash Flows 9
Notes to the Statement of Cash Flows 10
Notes to the Financial Statements 11 to 15

ICHUD MOSDOS GUR LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022

TRUSTEES

J Goldman A Kahn J Levy I N Perlberger A Jacubowitsch C Abramzyk

REGISTERED OFFICE First Floor 94 Stamford Hill London N16 6XS REGISTERED COMPANY 04332855 (England and Wales) NUMBER

REGISTERED CHARITY 1096711 NUMBER AUDITORS Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS

Page 1

ICHUD MOSDOS GUR LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. 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

Objects for public benefit

The objects of the charity are:

The trustees have considered the Charity Commission's general guidance on public benefit.

Grantmaking policy

In the main grants are made to Ichud Mosdos Gur, Israel (known as The United Institutions of Gur in Israel). However whilst not actively inviting applications the trustees are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In the year under review the charity continued its philanthropic activities and maintained its support of organisations engaging in education and the advancement of religion. Events were held both for fundraising and to raise awareness of the charity and its beneficiaries.

FINANCIAL REVIEW

Performance

The charity is reliant on income from voluntary donations which rose by nearly 50%. This was due to the various events held during the course of the year and the trustees feel justified in the increase in fundraising expenditure. The trustee are pleased to report a similar increase in grantmaking. The charity had surplus for the year.

Reserves policy

The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £26,720 (2021 - £10,164).

FUTURE PLANS

The charity plans to continue its activities subject to satisfactory income.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 3 December 2001.

Organisational structure

The day-to-day affairs of the company are administered by the trustees. The power to appoint new trustees is vested in the continuing board. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees.

Risk review

The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.

Page 2

ICHUD MOSDOS GUR LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Ichud Mosdos Gur Limited for the purposes of company law) 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 17 October 2023 and signed on its behalf by:

A Kahn - Trustee

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ICHUD MOSDOS GUR LIMITED

Opinion

We have audited the financial statements of Ichud Mosdos Gur Limited (the 'charitable company') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 charitable company 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 charitable company'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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ICHUD MOSDOS GUR LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ICHUD MOSDOS GUR LIMITED

Our responsibilities for the audit of the financial statements

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.

In performing an audit, we exercise professional judgment and maintain professional scepticism throughout the audit.

We also identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. The risk of not detecting a material misstatement resulting from fraud is higher than one for one resulting from error, as fraud may involve collusion, forgery, intentional omissions misrepresentation or override of internal control.

We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of charity's internal control.

We evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements

We concluded whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about charity's ability to continue as a going concern for a reasonable period of time.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

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.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Emanuel Meyer FCA BSc (Senior Statutory Auditor) for and on behalf of Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS

17 October 2023

Page 6

ICHUD MOSDOS GUR LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Grantmaking
Support
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
2,052,282
33
2,052,315
58,572
1,961,608
15,579
2,035,759
16,556
10,164
26,720		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-		 2022
Total
funds
£
2,052,282
33
2,052,315
58,572
1,961,608
15,579
2,035,759
16,556
10,164
26,720		 2021
Total
funds
£
1,372,020
107
1,372,127
45,112
1,313,194
15,653
1,373,959
(1,832)
11,996
10,164

The notes form part of these financial statements

Page 7

ICHUD MOSDOS GUR LIMITED (REGISTERED NUMBER: 04332855)

STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2022

Notes
CURRENT ASSETS
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds:
General fund
TOTAL FUNDS		 2022
£
81
32,578
32,659
(5,939)
26,720
26,720
26,720
26,720
26,720		 2021
£
7,250
8,134
15,384
(5,220)
10,164
10,164
10,164
10,164
10,164

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 17 October 2023 and were signed on its behalf by:

A Kahn - Trustee

The notes form part of these financial statements

Page 8

ICHUD MOSDOS GUR LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Interest received
Net cash provided by 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		 2022
£
24,411
24,411
33
33
24,444
8,134
32,578		 2021
£
(9,189)
(9,189)
107
107
(9,082)
17,216
8,134

The notes form part of these financial statements

Page 9

ICHUD MOSDOS GUR LIMITED

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Interest received
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by/(used in) operations		 2022
£
16,556
(33)
7,169
719
24,411		 2021
£
(1,832)
(107)
(7,250)
-
(9,189)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.22
Cash flow
At
£
£
Net cash
Cash at bank
8,134
24,444
8,134
24,444
Total
8,134
24,444		 31.12.22
£
32,578
32,578
32,578

The notes form part of these financial statements

Page 10

ICHUD MOSDOS GUR LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. 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. Donations are accounted for when received. All other income is recognised on a receivable basis.

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.

Raising funds comprise the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Support costs are those incurred to assist the work of the charity but are not direct charitable activities.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Going concern

There are no material uncertainties about the charity's ability to continue.

2. DONATIONS AND LEGACIES

2022 2021
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Donations 2,052,282 - 2,052,282 1,372,020

Page 11

ICHUD MOSDOS GUR LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

3. INVESTMENT INCOME

Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
33
-
4.
RAISING FUNDS
Raising donations and legacies
Unrestricted
Restricted
funds
funds
£
£
Rent, rates and office expenses
18,208
-
Printing postage & advertising
13,440
-
Hotel and travel
4,110
-
Function
20,691
-
Credit card charges
2,123
-
58,572
-
5.
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
6)
£
Grantmaking
1,961,608
Support
-
1,961,608
6.
GRANTS PAYABLE
Grantmaking
The total grants paid to institutions during the year was as follows:
Advancement of education
Advancement of religion
Relief of poverty
Ichud Mosdos Gur Israel
Others (below £10,000)
Total		 2022
Total
funds
£
33
2022
Total
funds
£
18,208
13,440
4,110
20,691
2,123
58,572
Support
costs (see
note 7)
£
-
15,579
15,579
2022
£
1,961,608
2022
£
1,952,608
9,000
-
1,961,608
1,945,753
15,855
1,961,608		 2021
Total
funds
£
107
2021
Total
funds
£
18,143
7,590
5,722
12,107
1,550
45,112
Totals
£
1,961,608
15,579		 2021
Total
funds
£
107
2021
Total
funds
£
18,143
7,590
5,722
12,107
1,550		 2021
Total
funds
£
107
45,112
1,977,187
2021
£
1,313,194
2021
£
1,305,369
-
7,825
1,313,194

Page 12

ICHUD MOSDOS GUR LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

7. SUPPORT COSTS

Finance
£
Support
9,802
Support costs, included in the above, are as follows:
Finance
Wages
Bank charges
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit
work
General expenses
8.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Auditors' remuneration for non audit work		 Governance
Other
costs
Totals
£
£
£
262
5,515
15,579
2022
2021
Total
Support
activities
£
£
9,061
7,779
741
717
9,802
8,496
2022
2021
Total
Support
activities
£
£
2,400
2,340
2,340
2,880
775
511
5,515
5,731
2022
2021
£
£
2,400
2,340
2,340
2,880

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Page 13

ICHUD MOSDOS GUR LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

10. STAFF COSTS

The average monthly number of employees during the year was as follows:

2022 2021
Office 1 1
No employees received emoluments in excess of £60,000.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Accruals 81 7,250
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Accruals and deferred income 5,939 5,220
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
£ £ £ £
Current assets 32,659 - 32,659 15,384
Current liabilities (5,939) - (5,939) (5,220)
26,720 - 26,720 10,164
14. MOVEMENT IN FUNDS
Net
movement At
At 1.1.22 in funds 31.12.22
£ £ £
Unrestricted funds
General fund 10,164 16,556 26,720
TOTAL FUNDS 10,164 16,556 26,720
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 2,052,315 (2,035,759) 16,556
TOTAL FUNDS 2,052,315 (2,035,759) 16,556

Page 14

ICHUD MOSDOS GUR LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.21
£
11,996
11,996
are as follows:
Incoming
resources
£
1,372,127
1,372,127		 Net
movement
in funds
£
(1,832)
(1,832)
Resources
expended
£
(1,373,959)
(1,373,959)		 At
31.12.21
£
10,164
10,164
Movement
in funds
£
(1,832)
(1,832)

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

Page 15