CHARITY REGISTRATION NUMBER: 1101793 FIUENDS OF MOSDOS BELZ MACHNOVKA Unaudited Financial Statements For the year ended 31 March 2024 COHEN ARNOLD CHARTERED ACCOUNTANTS LONDON NWI I OPU FRIENDS OF MOSDOS BELZ MACHNOVKA Financial Statements Year ended 31 March 2024 PAGES Trustees, Annual Report Ito2 Independent examiner's report to the trustees Statement of Financial Activities Statement of Financial Position Not¢$ to the Financial Ststements 6t09 FRIENDS OF MOSDOS BELZ MACHNOVKA 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 Charity registration number Principal oifice Friends of Mosdos Belz Machnovka 1101793 136 Clapton Common London E5 9AR The Trustees Mr E Englander (Chairnian) Mr J Lipschitz Mr B Bard Mr J L Weiss Illdepcndent Examiner Asher Sternlicht FCA Coh¢n Arnold Chartered Accountants New Burlington House I075 Finchley Road LONDON NWII OPU Structure? governance and managemeDt Governing Doclln)eDt The organisation is governed by a Trust De￿ dated 18 January 2004. Appointment and Recruitment of Trustees The Trustees administer the day-to-day affairs of the charity. Every Trustee holds offi¢¢ until he/she shall die or shall cease to hold office by virtue of the Trust Deed. None of the trustees have any beneficial interest in the charity. Where there is a requirement for new Trustees, these would be identified and appointed by the remaining Trustees. The Chairnian of the Trustee5 would be responsible for the induction of any new Trustee, which involves awareness of a Trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the Charity. A new Trustee would receive copies of the previous year, s annual report and accounts with detailed explanation thereof. Risk Management The trustees have identified and reviewed the major risks to which the Charity is exposed, in particular those related to the operations and finance of the Charity, and are satisfied that systems are in place to mitigate those risks. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. FRIENDS OF MOSDOS BELZ MACHNOVKA Trustees, Annual Report (continued) Year ended 31 March 2024 Objectives and activities The Charity is established to further those purposes both in the United Kingdom and abroad recognised as charitable by English Law. Pursuant to the objects and having regard to the guidance of the Charity Commission relating to Public Benefit, the Trustees raise funds in support of Belz Machnovka Institutions in Israel. Grant Making Policy The Trustees are approached for donations by a wide variety of charitable institutions operating in the United Kingdom and abroad. The Trustees consider all requests which they receive and make donations based on the level of funds available. Grants and donations in the year totalled £296,000 (2023: £140,000). Financial review Income from investments and donations aggregated £219,092. Total resources expended were £303,959 resulting in a net deficit of £84,867, The Charity's Statement of Financial Activities shows a net deficit of £84,867 (2023.. £91,787 surplus) and total reserves of £6,545 (2023: £91,412). The financial results of the Charity's activities for the year to 31 March 2024 are fully reflected in the attached Financial Statements together with the Notes thereon. Reserves Policy The Reserves Policy of the Trustees is to maintain unrestricted funds, which are the free reserves of the Charity. at a level they consider appropriate to the Charity's needs taking into account likely future requirements. Plans for future periods The Trustees plan to continue making distributions in accordance with their grant-making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end. The trustees, annual report was approved on £4.S>wry.9o¥and signed on behalf of th¢ board of trustees by: Mr E Englander Trustee FRIENDS OF MOSDOS BELZ MACHNOVKA Independent Examiner's Report to the Trustees of Friends of Mosdos Belz Machnovka Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Friends of Mosdos Belz Machnovka ('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 accordanc¢ 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 201 l 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 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 the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements concerning the forni 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 fail view which is not a matter considered &$ part of an independent examinalion. I have no concerns and have come across no other matters in connection with the examination to which altention should be drawn in this report in order to enable a proper Unde￿tandIng of the accounts to be reached. Asher St¢rnlicht FCA Independent examiner COHEN ARNOLD Chartered Accountants New Burlington House 1075 Finchley Road LONDON NWII OPU 2025 FRIENDS OF MOSDOS BELZ MACHNOVKA Statement of Financial Activities 31 March 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Investment income 218,311 781 218Jll 781 233.451 284 Total income 219,092 219,092 233,735 Expenditure Expenditure on charitable activities Total expenditure 303,959 303,959 303,959 141,948 303,959 141,948 Net (expenditureyincome and net movement in funds (84,867) (84,867) 91,787 Reconciliation of funds Total funds brought forward Total funds earried forward 91,412 91,412 6,545 (375) 91,412 6,545 Th¢ statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes pages 6 to 9 form part of these finaneial ststements. FIUENDS OF MOSDOS BELZ MACHNOVKA Statement of Financial Position 31 March 2024 2024 2023 Current assets Cash at bank 9J95 95,Ol2 Creditors: aniounts falling due Ivithin one year Net current assets 11 (2,850) (3,600) 6,545 91,412 Total assets less current liabilities 6￿45 91,412 Net assets 6J45 91,412 Funds of the Charity Unrestricted funds 6,545 91,412 91.412 Tolal charity funds 12 6,545 These financial statements were approved by the board of trustees and authorised for issue on are signed on behalf of the board by: Mr E Englander Trustee The Dotes on pages 6 to 9 form part of these financial ststement5. FRJENDS OF MOSDOS BELZ MACHNOVKA Notes to the Financial Statements Year ended 31 March 2024 General information The charity is registered charity in England and Wales and is unincorporated. The address of the principal office is 136 Clapton Common, London, E5 9AR. 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. Accounting polieies 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 measured at fair value through incoffie or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires managemcnt to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are funds subject to specific restricted conditions imposed by donors. There are no restricted funds as at the Balance Sheet date. Designated funds ar¢ funds which have been set aside at the discretion of the trustees for specific purposes. There are no designated funds as at the Balanc¢ Sheet date. Incoming resources All incoming resources are 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 atnount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. FRIENDS OF MOSDOS BELZ MACHNOVIL4 Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policies fconlirtued) IDcoming resources (conilnued) income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the Costs of all fundraising activities. events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of it5 beneficiaries. including those support costs and costs relating to th¢ governance of the charity apportioned to charitable aotlvities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Taxation The Charity is not liable to direct t&xation (income tax) on its income as It falls within the various exemptions available to registered Charities. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is reeognised at the present value of the future payments discounted at a market rate of intcrcst for a sitnilar debt instrument. Cu￿¢llt assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairnient, an impairnient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. Any reversals of impaimient are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carying amount would have been had the impairn]ent not previously been recognised. FIUENDS OF MOSDOS BELZ MACHNOVKA Notes to the Financial Statements (confinued) Year ended 31 March 2024 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 218.311 218Jll 233,451 233,451 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Paid Support and governance costs 296,000 7,959 303,959 296,000 7,959 140,000 1,948 140,000 1,948 303,959 141,948 141,948 Expenditure on charitable activfitles by activity type Grant Support & funding of governance Total funds Total funds activities costs 2024 2023 Donations Paid Governance costs 296,000 296,000 7,959 140.000 1,948 7,959 296,000 7,959 303,959 141,948 Analysis of grants 2024 2023 GrAnts to institutions Donations Paid 296,000 140,000 Total grants 296,000 140,000 All donations were made to charities whose objectives are in line with the objectives of the charity. The composition of donations is shown below. Mosdos Toras Aharon of Belz Machnivka Lomdei Torah Other grants 151,000 140,000 5,000 296,000 FRIENDS OF MOSDOS BELZ MACHNOVKA Notes to the Financial Statements (eonilnued) Year ended 31 March 2024 Independent examination fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 7,665 1,800 Staff costs No salaries or wages have been paid to employees during the year. No staff w¢r¢ employed by the charity during the reporting period. 10. Trustee remuneration And expenses No salaries or wages have been paid to employees, including the trustees, during the year. The charity did not meet any individual expenses ineurred by the trustees for services provided to the charity. I l. Creditors: amounts falllng due within one year 2024 2023 Other creditors £2,850 £3.600 12. Analysis of charitydble funds Unrestricted funds Atl April 2023 At31 Income Exp¢nditure Marcb 2024 General funds 91,412 219,092 (303,959) 6,545 Atl April 2022 At31 Income Expenditure March 2023 General funds (375) 233,735 (141.948) 91,412 FRIENDS OF MOSDOS BELZ MACHNOVKA Notes to tbe Financial Statements {condKued) Year ended 31 March 2024 13. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than one year Net liabilities 9,395 (2,850) 6,545 9,395 (2,850) 6,545 Unrestricted Total Funds Funds 2023 Current assets Creditors less than one year Net liabilitles 95,012 (3,600) 91,412 95.012 (3,600) 91,412 14. Related parties There have been no related party transactions in the reporting period that require disclosure. io