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2021-06-30-accounts

KEREN MOSHE YOSEF LIMITED (A company limited by guarantee)

Trustees' report and financial statements for the year ended 30 June 2021

KEREN MOSHE YOSEF LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

Contents

Charity Information 2
Trustees Report 3
Independent examiners report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-9
Detailed Statement of Financial Activities 10

KEREN MOSHE YOSEF LTD

CHARITY INFORMATION

Trustees

Mr. M. H. Kahn Mr E M Berkowitz (deceased 22/01/2021) Mr. G. Spitzer (resigned (22/01/2021) Mr S I Stein (appointed 22/01/2021) Mr Y Arberman (appointed 22/01/2021)

Secretary Mr. M. H. Kahn

Charity Address 17 Stamford Hill Mansions Stamford Hill London N16 5TN Company Number 5857344 Charity Number 1115622 Accountants JS&Co Accountants Ltd 26 Theydon Road London E5 9NA

2

KEREN MOSHE YOSEF LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021

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 30 June 2020. 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 2015).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is a charitable company limited by guarantee and was set up on the 26 June 2007. It is governed by a Memorandum and Articles of Association

Organisational Structure

The charity is managed exclusively by the trustees.

Election of New Trustees

No new trustees were appointed during the year. Should there be a need for a new trustee, the existing trustee will appoint the new trustee.

Induction and Training of Trustees

The charity's trustees periodically evaluate possible training requirements to best suit the charity's objectives.

Training will be given by in-house services and these will be available to existing and new trustees on an ad hoc or demand basis.

Risk Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Governance and Internal Control

The trustees meet four times during the year to review the strategy and performance of the charity's activities.

Statement of Trustees Responsibilities

Company and Charity 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 charity and of its results for that period.

In preparing these financial statements, the trustees are required to:

a) select suitable accounting policies and then apply them consistently;

b) make judgments and estimates that are reasonable and prudent;

c) state whether the policies adopted are in accordance with the Companies Act 2006 and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;

d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in business

The trustees have overall responsibility for assuring that the charity has appropriate systems of controls, financial and otherwise.

3

KEREN MOSHE YOSEF LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021

They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity

and enable them to ensure that the financial statements comply with the Companies Act 2006. 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 and to provide assurance that:-

(i) the charity is operating efficiently and effectively

(ii) the assets are safeguarded against unauthorised use or disposition

(iii) proper records are maintained and financial information used within the charity is reliable

(iv) the charity complies with relevant laws and regulations.

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material mis-statement or loss. They include:-

1) a strategic plan, closely monitored

2) regular reviews and consideration by trustees of financial results

3) identification and management of risk. The trustees have introduced a formal risk management process to assess business risks and implement risk management strategies.

This involved identifying the types of risks the charity faces, prioritising them in terms of potential impacts and likelihood of occurrence and identifying means of mitigating the risks. As part of this process, the trustees have reviewed the adequacy of the charity's current internal controls. The trustees are pleased to report that the charity's internal financial controls in particular, conform with the guidelines issued by the Charity Commission.

OBJECTIVES AND ACTIVITIES

The objects of the charity are to advance religion in accordance with the Orthodox Jewish Faith and to support other charitable activities as are recognised under English Law. The charity supports the needy and disadvantaged people of the community. All the incomes received during the year were from kind donations from individuals and institutions. The total income for the year was £70,714.

ACHIEVEMENTS AND PERFORMANCE

The charity has achieved its objectives during the year by supporting charitable causes and by maximising income from its available resources with the minimum of risk.

FINANCIAL REVIEW AND FUTURE PLANS

The charity is satisfied that it maximised the income it received by way of donations from various sources. It is also happy to have been able to make substantial grants to further its main objects.

PLANS FOR THE FUTURE

The trustees plan for the charity to continue its charitable activities in a similar way to the current year, and hopes to be able to expand on its current base of donors so that the charity can increase its future charitable activities.

ON BEHALF OF THE BOARD:

M H Kahan – Trustee

13 February 2022

3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KEREN MOSHE YOSEF LIMITED

Independent examiner's report to the trustees of KEREN MOSHE YOSEF LIMITED ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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

JS & CO ACCOUNTANTS LTD 26 Theydon Road London, E5 9NA

13 February 2022

KEREN MOSHE YOSEF LTD

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 30 June 2021

Notes
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary Income
RESOURCES EXPENDED
Fundraising costs
Cost of generating funds
Cost of generating voluntary income
Governance costs
Total resources expended
NET INCOMING/(OUTGOING)
RESOURCES
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2021
£
70,714
70,714
16,000
78,246
742
94,988
-24,274
33,667
9,393		 2020
£
239,040
239,040
262,558
2,120
264,678
-25,638
59,305
33,667

The Notes form part of the financial statements

Page 6

KEREN MOSHE YOSEF LTD

BALANCE SHEET 30-Jun-21

Notes
CURRENT ASSETS:
Debtors
3
Cash at bank and in hand
CREDITORS: amounts falling
due within one year
4
Net Current assets/(liabilities)
NET CURRENT ASSETS:
FUNDS
5
Unrestricted funds
TOTAL FUNDS		 2021
£
£
10,000
0
10,000
-607
9,393
9,393
9,393
9,393		 2020
£
£
35,000
660
35,660
-1,993
33,667
33,667
33,667
33,667		 2020
£
£
35,000
660
35,660
-1,993
33,667
33,667
33,667
33,667
33,667
33,667
33,667

The Charitable company is entitled to exemption from audit under section 477 of Companies Act 2006 for the year ended 30 June 2021.

The trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with section 476 of Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial reporting Standard for smaller entities (effective April 2008)

Approved by the board of Trustees on: And signed on their behalf by:

13 February 2022

M H Kahan - Trustee

Page 7

KEREN MOSHE YOSEF LTD

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2021

1 ACCOUNTING POLICIES

Accounting convention

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 2015)', 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

Incoming resources

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on accurals 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 consitent with the use of resources

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.

2 TRUSTEES REMUNERATION AND BENEFITS

There where no trustees remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.

Trustees Expenses

There where no trustees expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.

Page 8

KEREN MOSHE YOSEF LTD

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2021

3 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DUE WITHIN ONE YEAR
Other Debtors
4
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR		 2021
£
10,000		 2020
£
35,000
10,000 35,000
Accruals 2021
£
607		 2020
£
1,993
607 1,993

5 MOVEMENTS IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.07.20
£
33,667
33,667		 Net movement
in funds
£
-24,274		 At 30.06.21
£
9,393
-24,274 9,393

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
70,714
70,714		 Rescources
expended
£
94,988		 Movement in
funds
£
-24,274
94,988 -24,274

6 RELATED PARTY DISCLOSURES

During the period the charity paid a total of £12,146 to Superglatt Ltd. This was in respect of the provision of food to those in poverty. Mr M H Kahan, a trustee of the charity, is a director of Superglatt Ltd.

Page 9

KEREN MOSHE YOSEF LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 June 2021

INCOMING RESOURCES
Voluntary Income
Donation:
Total incoming resources
RESOURCES EXPENDED
Costs of generating voluntary income
Charitable Activities
Fundraising costs
Fundraising costs
Governance costs
Accountancy
Professional fees
Sundries
Bank charges
Total resources expended
NET INCOME FOR THE YEAR
RECONCILIATION OF FUNDS
NET INCOME FOR YEAR
Total Funds Brought Forward
Total Funds Carried Forward		 2021
£
70,714
70,714
78,246
78,246
16,000
540
67
135
742
94,988
-24,274
-24,274
33,667
9,393		 2020
£
239,040
239,040
262,558
262,558
720
1,100
67
233
2,120
264,678
-25,638
-25,638
59,305
33,667

This page does not form part of the financial statment

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