REGISTERED CHARITY NUMBER: 1117809
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
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 2022
| 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 8 |
CMSB CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022
The trustees present their report with the financial statements of the charity for the year ended 31 August 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives for which the charity is established are as follows:
(1) the advancement and furtherance of the Jewish religion and Jewish religious education and the alleviation of 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.
The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
Activities
This charity makes grants and donations to other charitable organisations, which accord with the objects of the charity, and to needy individuals in the community.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grantmaking policy.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The main areas of charitable activity are the provision of financial support to Jewish organisations engaging in 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
In accordance with the trust deed, the trustees have the power to make any investment which the trustees see fit. 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.
The demands on the charity's funds were within expectation with charitable donations for the year totalling £109,332 (2021 - £96,427).
Reserves Policy
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely governance costs of the charity for the next year.
FUTURE PLANS
The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory incoming resources.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The official name of the charity is CMSB Charitable Trust. The charity is governed by its Trust Deed and was formed 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 2022
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.
It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in 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
The trustees have identified and reviewed the major risks to which the charity is exposed, in particular those related 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 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 12 June 2023 and signed on its behalf by:
Mr B Bard - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CMSB CHARITABLE TRUST
Independent examiner's report to the trustees of CMSB Charitable Trust
I report to the charity trustees on my examination of the accounts of CMSB Charitable Trust (the Trust) for the year ended 31 August 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
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 Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Aryeh Melinek FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
12 June 2023
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CMSB CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 110,000 EXPENDITURE ON Charitable activities Donations 109,332 Charitable activities 1,758 Total 111,090 NET INCOME/(EXPENDITURE) (1,090) RECONCILIATION OF FUNDS Total funds brought forward (63,811) TOTAL FUNDS CARRIED FORWARD (64,901) |
2021 Total funds £ 94,000 96,427 1,686 98,113 (4,113) (59,698) (63,811) |
|---|---|
The notes form part of these financial statements
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CMSB CHARITABLE TRUST
BALANCE SHEET
31 AUGUST 2022
| 2022 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 5,349 CREDITORS Amounts falling due within one year 5 (1,500) NET CURRENT ASSETS 3,849 TOTAL ASSETS LESS CURRENT LIABILITIES 3,849 CREDITORS Amounts falling due after more than one year 6 (68,750) NET ASSETS (64,901) FUNDS Unrestricted funds (64,901) TOTAL FUNDS (64,901) |
2021 Total funds £ 7,939 (3,000) 4,939 4,939 (68,750) (63,811) (63,811) (63,811) |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 June 2023 and were signed on its behalf by:
Mr B Bard - Trustee
The notes form part of these financial statements
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CMSB CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 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.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial 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
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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals 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 consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
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.
2. DONATIONS AND LEGACIES
| Donations 3. GRANTS PAYABLE Donations |
2022 £ 110,000 2022 £ **109,332 ** |
2021 £ 94,000 2021 £ 96,427 |
|---|---|---|
The total grants paid to institutions during the year was £109,332 (2021 - £96,427). A summary of grants made to institutions during the year is as follows:
| Name of institution | Amount (£) |
|---|---|
| Mercaz Hatorah Belz Machnovke | 29,960 |
| Beis Ahron Trust | 14,356 |
| Friends of Collel Chibath Yerushalayim | 10,100 |
| College for Higher Rabbinical Studies | 10,000 |
| Belz Synag | 5,000 |
| Mifal Hachesed Vehatzedokoh | 2,000 |
continued...
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CMSB CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022
3. GRANTS PAYABLE - continued
| Bonei Olam | 960 |
|---|---|
| Friends of KH | 1,000 |
| M.L.T. Belz | 2,250 |
| Chevras Mo'oz Ladol | 320 |
| CPHS | 5,000 |
| Start Upright | 5,000 |
| ZSU | 1,310 |
| Yershiva Gedolah | 2,000 |
| TTBA Belz | 1,740 |
| Tchaba Kollel | 5,180 |
| Other Smaller Donations | 12,656 |
| Total | 109,332 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
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 |
2022 £ 1,500 2022 £ 68,750 2022 £ 68,750 |
2021 £ 3,000 2021 £ 68,750 |
2021 £ 3,000 |
|---|---|---|---|
| 2021 £ 68,750 |
continued...
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CMSB CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022
8. RELATED PARTY DISCLOSURES
Other long-term creditors is comprised of £68,750 (2021 - £68,750) owed to a company which is controlled by one of the trustees.
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