2020-08-31-accounts - Cmsb Charitable Trust

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REGISTERED CHARITY NUMBER: 1117809

`REPORT OF THE TRUSTEES AND`

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2020

FOR

CMSB CHARITABLE TRUST

Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road

London

N3 1DH

CMSB CHARITABLE TRUST

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020`

		`Page`
`Report of the Trustees`	`1`	`to`	`2`
`Independent Examiner's Report`		`3`
`Statement of Financial Activities`		`4`
`Balance Sheet`		`5`
`Notes to the Financial Statements`	`6`	`to`	`7`

CMSB CHARITABLE TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020`

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31August2020. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

The objectives for which the charity is established are as follows:

(1)theadvancementandfurtheranceoftheJewishreligionandJewishreligiouseducationandthealleviationof poverty
among the Jewish community throughout the world.

(2) the advancement of such other charitable purposes as the trustees may from time to time determine.

TheTrusteesconfirmtheircompliancewiththedutytohavedueregardtothepublicbenefitguidancepublishedby the
Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.

`Activities`

Thischaritymakesgrantsanddonationstoothercharitableorganisations,whichaccordwiththeobjectsofthe charity,
and to needy individuals in the community.

`Public benefit`

TheTrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on
publicbenefitwhenreviewingtheTrust'saimsandobjectivesandinplanningfutureactivitiesandsetting the
grantmaking policy.

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

ThemainareasofcharitableactivityaretheprovisionoffinancialsupporttoJewishorganisationsengagingin education,
advancement of religion in accordance with the Jewish faith and the granting of philanthropic aid to Jewish needy.

`FINANCIAL REVIEW`

`Investment Powers, Policy and Objectives`

Inaccordancewiththetrustdeed,thetrusteeshavethepowertomakeanyinvestmentwhichthetrusteesseefit. The
trustees regularly review the charity's position and needs in respect of the investment policy.

`Financial review`

The charity is dependent upon donations from individuals and other charitable organisations.

Thedemandsonthecharity'sfundswerewithinexpectationwithcharitabledonationsfortheyeartotalling £149,764
(2019: £175,495).

`Reserves Policy`

Itisthepolicyofthecharitytomaintainunrestrictedfunds,whicharefreereservesofthecharity,atalevelwhich the
trusteesthinkappropriateafterconsideringthefuturecommitmentsofthecharityandthelikelygovernancecostsof the
charity for the next year.

`FUTURE PLANS`

Thecharityplanscontinuingtheactivitiesoutlinedaboveintheforthcomingyearssubjecttosatisfactory incoming
resources.

The Trustees are confident that despite Covid-19, the Charity will be able to continue its objectives.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

TheofficialnameofthecharityisCMSBCharitableTrust.ThecharityisgovernedbyitsTrustDeedandwasformed on
the 15 September 2006. The charity was registered with the Charity Commission on the 2 February 2007.

Page 1

CMSB CHARITABLE TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020`

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Appointment, Training and Recruitment of Trustees`

All current trustees are honorary members. The trustees administer the day to day affairs of the charity.

Itisnottheintentionofthetrusteesofthecharitytoappointanynewtrustees.Shouldthesituationchangein the
future, the trustees will apply suitable recruitment training and induction procedures.

None of the trustees have any beneficial interest in the charity.

`Risk management`

Thetrusteeshaveidentifiedandreviewedthemajorriskstowhichthecharityisexposed,inparticularthoserelated to
those operations and finance of the charity, and are satisfied that systems are in place to mitigate those risks.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Charity number`

`Principal address`

14 St. Kilda's Road
London
N16 5BP

`Trustees`

Mr B Bard
Mr S Sinitsky (resigned 1.1.20)
Mr B Mandel

`Independent Examiner`

Aryeh Melinek FCA
Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

`Bankers`

Lloyds Bank
Highbury Corner
31-33 Holloway Road
London
Greater London
N7 8JU

Approved by order of the board of trustees on 24 June 2021 and signed on its behalf by:

Mr B Bard - Trustee

Page 2

`INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF`

`CMSB CHARITABLE TRUST`

`Independent examiner's report to the trustees of CMSB Charitable Trust`

IreporttothecharitytrusteesonmyexaminationoftheaccountsofCMSBCharitableTrust(theTrust)forthe year
ended 31 August 2020.

`Responsibilities and basis of report`

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').

IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActandincarrying out
myexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionundersection145(5)(b)of the
Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

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

3. 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.

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Aryeh Melinek FCA
Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

24 June 2021

Page 3

CMSB CHARITABLE TRUST

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020`

2020
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
145,300
EXPENDITURE ON
Charitable activities
Donations
149,764
Charitable activities
1,960
Total
151,724
Net gains on investments
-
NET INCOME/(EXPENDITURE)
(6,424)
RECONCILIATION OF FUNDS
Total funds brought forward
(53,274)
TOTAL FUNDS CARRIED FORWARD
(59,698) 2019
Total
funds
£
109,500
175,495
1,887
177,382
16,585
(51,297)
(1,977)
(53,274)

The notes form part of these financial statements

Page 4

CMSB CHARITABLE TRUST

`BALANCE SHEET 31 AUGUST 2020`

2020
Unrestricted
fund
Notes
£
CURRENT ASSETS
Cash at bank
10,552
CREDITORS
Amounts falling due within one year
5
(1,500)
NET CURRENT ASSETS
9,052
TOTAL ASSETS LESS CURRENT LIABILITIES
9,052
CREDITORS
Amounts falling due after more than one year
6
(68,750)
NET ASSETS
(59,698)
FUNDS
Unrestricted funds
(59,698)
TOTAL FUNDS
(59,698) 2019
Total
funds
£
16,976
(1,500)
15,476
15,476
(68,750)
(53,274)
(53,274)
(53,274)

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon24June2021and were
signed on its behalf by:

Mr B Bard - Trustee

The notes form part of these financial statements

Page 5

CMSB CHARITABLE TRUST

`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Charities
Act 2011. The financial statements have been prepared under the historical cost convention.

`Financial reporting standard 102 - reduced disclosure exemptions`

Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthesefinancial statements,
as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.

Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Generalunrestrictedfundscomprisetheaccumulatedsurplusordeficitonincomeandexpenditureaccount. They
are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

`2. DONATIONS AND LEGACIES`

`3.`

`Donations` `GRANTS PAYABLE` `Donations`	`2020` `£` `145,300` `2020` `£` `149,764`	`2019` `£` `109,500`
		`2019` `£` `175,495`

Thetotalgrantspaidtoinstitutionsduringtheyearwas£149,764(2019:£175,495).Asummaryofgrants made
to institutions during the year is as follows:

`Name of institution`	`Amount (£)`
`Mercaz Hatorah Belz Machnovke`	`63,330`
`Vaad Lehatzolas Botei Olmin B'Europa`	`17,551`
`Beis Ahron Trust`	`17,200`
`Chevras Mo'oz Ladol`	`8,320`
`Friends of Collel Chibath Yerushalayim`	`5,620`
`Beis Kosov`	`5,000`

continued...

Page 6

CMSB CHARITABLE TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020`

`3. GRANTS PAYABLE - continued`

`Friends of Beis Chinuch Lebonos`	`5,000`
`Belz Synagogue`	`4,630`
`Hadras Kodesh`	`4,000`
`Shaarei Chessed`	`4,000`
`CYD Trust`	`3,500`
`Other smaller donations`	`11,613`
`Total`	`149,764`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2020norfortheyear ended
31 August 2019.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31August2020norfortheyear ended
31 August 2019.

`5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`6.`

`7.`

`Other creditors` `CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR` `Other creditors` `LOANS` `An analysis of the maturity of loans is given below:` `Amounts falling between one and two years:` `Other loans more than 1 year`	`2020` `£` `1,500` `2020` `£` `68,750` `2020` `£` `68,750`	`2019` `£` `1,500` `2019` `£` `68,750`	`2019` `£` `1,500`
		`2019` `£` `68,750`

`8. RELATED PARTY DISCLOSURES`

Otherlong-termcreditorsiscomprisedof£68,750(2019:£68,750)owedtoacompanywhichiscontrolledby one
of the trustees.

Page 7