``` 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`** ``` 1117809 ``` ## **`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 ```