**REGISTERED CHARITY NUMBER: 1117809** **Report of the Trustees and** **Unaudited Financial Statements FOR THE YEAR ENDED 31 August 2024** **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 2024** ||**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 2024** The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. 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. ## **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 £150,170 (2023: £162,952). ## **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. ## **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. Page 1 **CMSB CHARITABLE TRUST** ## **Report of the Trustees** ## **FOR THE YEAR ENDED 31 AUGUST 2024** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT 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** 5 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 27 June 2025 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** I report to the charity trustees on my examination of the accounts of CMSB Charitable Trust (the Trust) for the year ended 31 August 2024. ## **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: 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. 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 27 June 2025 Page 3 **CMSB CHARITABLE TRUST** ## **Statement of Financial Activities** ## **FOR THE YEAR ENDED 31 AUGUST 2024** |2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
149,000
**EXPENDITURE ON**
**Charitable activities**
Donations
150,170
Charitable activities
1,779
**Total**
151,949
**NET INCOME/(EXPENDITURE)**
(2,949)
**RECONCILIATION OF FUNDS**
Total funds brought forward
(64,874)
**TOTAL FUNDS CARRIED FORWARD**
(67,823)|2023
Total
funds
£
164,760
162,952
1,781
164,733
27
(64,901)
(64,874)| |---|---| The notes form part of these financial statements Page 4 ## **CMSB CHARITABLE TRUST** ## **Balance Sheet** ## **31 AUGUST 2024** |2024
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Cash at bank
2,427
**CREDITORS**
Amounts falling due within one year
5
(1,500)
**NET CURRENT ASSETS**
927
**TOTAL ASSETS LESS CURRENT LIABILITIES**
927
**CREDITORS**
Amounts falling due after more than one year
6
(68,750)
**NET ASSETS**
(67,823)
**FUNDS**
Unrestricted funds
(67,823)
**TOTAL FUNDS**
(67,823)|2023
Total
funds
£
6,876
(3,000)
3,876
3,876
(68,750)
(64,874)
(64,874)
(64,874)| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 27 June 2025 and 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 2024** ## **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 exemption 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** |**2.**|**DONATIONS AND LEGACIES**||| |---|---|---|---| |||2024|2023| |||£|£| ||Donations|149,000|164,760| |**3.**|**GRANTS PAYABLE**||| |||2024|2023| |||£|£| ||Donations|150,170|162,952| ||The total grants paid to institutions during the year was £150,170 (2023: £162,952). A summary||of grants ma| ||to institutions during the year is as follows:||| ||Name of institution||Amount (£)| ||One Heart Lev Echod||26,000| ||Mercaz Hatorah Belz Machnovke||19,500| ||Friends of Beis Soroh Schneirer||18,000| ||Mifal Hachesed Vehatzodako||14,000| ||Belz Synagogue||12,690| ||Beth Ahron trust||11,500| ||Chasdei Aharon Limited||6,000| The total grants paid to institutions during the year was £150,170 (2023: £162,952). A summary of grants made to institutions during the year is as follows: continued... Page 6 **CMSB CHARITABLE TRUST** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024** ## **3. GRANTS PAYABLE - continued** |Friends of Beis Chinuch Lebonos|5,000| |---|---| |Other|37,480| |Total|150,170| ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. ## **5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other creditors
**6.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other creditors
**7.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling between one and two years:
Other loans more than 1 year|2024
£
1,500
2024
£
68,750
2024
£
68,750|2023
£
3,000
2023
£
68,750|2023
£
3,000| |---|---|---|---| |||2023
£
68,750|| ## **8. RELATED PARTY DISCLOSURES** Other long-term creditors is comprised of £68,750 (2023 - £68,750) owed to a company which is controlled by one of the trustees. Page 7