REGISTERED CHARITY NUMBER: 1110620
MISGOV LADOCH
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
MISGOV LADOCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 to | 3 |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Cash Flow Statement | 7 | |
| Notes to the Cash Flow Statement | 8 | |
| Notes to the Financial Statements | 9 to | 12 |
MISGOV LADOCH
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2022
TRUSTEES
TRUSTEES A Blonder C Goldfinger M Grunfeld F Kupeczyk (appointed 1.2.22) PRINCIPAL ADDRESS 23 Paget Road London N16 5ND REGISTERED CHARITY 1110620 NUMBER
INDEPENDENT EXAMINER Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
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MISGOV LADOCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
The trustees present their report with the financial statements of the charity for the year ended 31 July 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).
Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity of the relief of poverty, the advancement of the Orthodox Jewish Religion and the advancement of Orthodox Jewish Religious Education. The charity carries out its objects by grantmaking. The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
Grantmaking
In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available. Applications by individuals must be accompanied by a letter of recommendation by the applicant's minister or other known religious leader.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity is reliant on voluntary income. Donations increased by about 21% and the trustees increased grantmaking by nearly 32%. The trustees are pleased with results of the year in which the helped many more individuals and families in need. The deficit for the year was funded from reserves held.
FINANCIAL REVIEW
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 £32,626 (2021 - £52,259).
FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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 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 management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees 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).
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MISGOV LADOCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 5 September 2023 and signed on its behalf by:
A Blonder - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MISGOV LADOCH
Independent examiner's report to the trustees of Misgov Ladoch
I report to the charity trustees on my examination of the accounts of Misgov Ladoch (the Trust) for the year ended 31 July 2022.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
E Meyer FCA BSc
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
5 September 2023
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MISGOV LADOCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 603,105 EXPENDITURE ON Raising funds 14,555 Charitable activities 2 Grantmaking 607,283 Support costs 900 Total 622,738 NET INCOME/(EXPENDITURE) (19,633) RECONCILIATION OF FUNDS Total funds brought forward 52,259 TOTAL FUNDS CARRIED FORWARD 32,626 |
2021 Total funds £ 499,120 |
|---|---|
| 12,198 460,803 720 |
|
| 473,721 | |
| 25,399 26,860 |
|
| 52,259 |
The notes form part of these financial statements
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MISGOV LADOCH
BALANCE SHEET 31 JULY 2022
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 7 Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 35,547 (2,921) 32,626 32,626 32,626 32,626 32,626 |
2021 Total funds £ 54,599 (2,340) 52,259 52,259 52,259 52,259 52,259 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 5 September 2023 and were signed on its behalf by:
A Blonder - Trustee
The notes form part of these financial statements
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MISGOV LADOCH
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating 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 £ (19,052) (19,052) (19,052) 54,599 35,547 |
2021 £ 27,019 |
|---|---|---|
| 27,019 | ||
| 27,019 27,580 |
||
| 54,599 |
The notes form part of these financial statements
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MISGOV LADOCH
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||
|---|---|---|
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Increase in creditors Net cash (used in)/provided by operations |
2022 £ (19,633) 581 (19,052) |
2021 £ 25,399 1,620 |
| 27,019 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.8.21 | Cash flow | At 31.7.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 54,599 | (19,052) | 35,547 |
| 54,599 | (19,052) | 35,547 | |
| Total | 54,599 | (19,052) | 35,547 |
The notes form part of these financial statements
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MISGOV LADOCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
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. Income received by way of donations is accounted for when received.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Grants are only recognised in the accounts when paid.
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 tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. CHARITABLE ACTIVITIES COSTS
| Grantmaking Support costs |
Grant funding of activities (see note 3) £ 607,283 - 607,283 |
Support costs (see note 4) £ - 900 900 |
Totals £ 607,283 900 |
|---|---|---|---|
| 608,183 |
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MISGOV LADOCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
3. GRANTS PAYABLE
| Grantmaking The total grants paid to institutions during the year was as follows: Relief of poverty Advancement of education Advancement of religion The total grants paid to individuals during the year was as follows: Relief of poverty SUPPORT COSTS Support costs Support costs, included in the above, are as follows: Independent examiner's fee Independent examiner's other fees |
2022 2021 £ £ 607,283 460,803 2022 2021 £ £ 19,962 - 8,378 - 4,302 - 32,642 - 2022 2021 £ £ 574,641 460,803 Governance costs £ 900 2022 2021 Support Total costs activities £ £ 450 360 450 360 900 720 |
|---|---|
4. SUPPORT COSTS
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.
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MISGOV LADOCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
| 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.8.21 £ Unrestricted funds General fund 52,259 TOTAL FUNDS 52,259 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 603,105 TOTAL FUNDS 603,105 Comparatives for movement in funds At 1.8.20 £ Unrestricted funds General fund 26,860 TOTAL FUNDS 26,860 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 499,120 TOTAL FUNDS 499,120 |
2022 2021 £ £ 2,921 2,340 Net movement At in funds 31.7.22 £ £ (19,633) 32,626 (19,633) 32,626 Resources Movement expended in funds £ £ (622,738) (19,633) (622,738) (19,633) Net movement At in funds 31.7.21 £ £ 25,399 52,259 25,399 52,259 Resources Movement expended in funds £ £ (473,721) 25,399 (473,721) 25,399 |
|---|---|
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MISGOV LADOCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2022.
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