Charity number: 1119479
FRIENDS OF MOSDOS TORAH VEYIRAH
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
FRIENDS OF MOSDOS TORAH VEYIRAH
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 |
| Independent examiner's report | 3 - 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
FRIENDS OF MOSDOS TORAH VEYIRAH
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021
Trustees Joseph Alexander Goldstein Chaskel Berger Charity registered number 1119479 Principal office 1st Floor Unit 1 Grosvenor Way London E5 9ND Accountants Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB Bankers Barclays Bank plc 1 Churchill Place London E14 5HP
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FRIENDS OF MOSDOS TORAH VEYIRAH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their annual report together with the financial statements of Friends of Mosdos Torah Veyirah (the charity) for the year ended 31 March 2021. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and follow the Charities SORP (FRS 102).
STATEMENT OF FINANCIAL ACTIVITIES
The Trust continued in its main activity of raising funds on behalf of Mosdos Torah Veyirah, Jerusalem (the Institution).
OBJECTIVES AND ACTIVITIES
The objects of the charity are the advancement of Orthodox Religious Jewish Education, the Orthodox Jewish Faith, and the relief of the poor, sick and feeble amongst persons of the Jewish faith in any part of the world.
The trustees confirm that they have given due regard to the Charity Commission's guidance on public benefit.
GRANT MAKING POLICIES
The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income and all or such parts of the capital at such time or times and in such manner as the Trustees may in their absolute discretion think fit for or towards such of the objects of the Charity as the Trustees may from time to time at their absolute discretion determine including payments by way of gift or loan (with or without interest) to individual persons in any part of the world provided that such persons qualify as objects of the Charity according to English law and in particular for the charitable activities of "Mosdos Torah Veyirah", an educational organisation in Israel.
RESERVES POLICY
It is the policy of the Trustees to distribute grants as and when the need arises and thus no provision for future funding is applicable.
RISK REVIEW
The Trustees confirm that there are no major risks to which the Trust is exposed.
This report was approved by the Trustees on 3rd February 2022 and signed on their behalf by:
................................................
C. Berger
Trustee
Approved by order of the members of the board of Trustees on 3 February 2022 and signed on their behalf by:
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FRIENDS OF MOSDOS TORAH VEYIRAH
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021
Independent examiner's report to the Trustees of Friends of Mosdos Torah Veyirah ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of FCCA, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 charity as required by section 130 of the 2011 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.
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FRIENDS OF MOSDOS TORAH VEYIRAH
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Signed:
Daniel Wolffe
Dated: 3 February 2022
FCCA
34 Braydon Road London N16 6QB
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FRIENDS OF MOSDOS TORAH VEYIRAH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities Other expenditure 3 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 676,621 676,621 627,000 719 627,719 48,902 (93,114) 48,902 (44,212) |
Total funds 2021 £ 676,621 676,621 627,000 719 627,719 48,902 (93,114) 48,902 (44,212) |
Total funds 2020 £ 824,816 824,816 909,995 595 910,590 (85,774) (7,340) (85,774) (93,114) |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 11 form part of these financial statements.
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FRIENDS OF MOSDOS TORAH VEYIRAH
BALANCE SHEET AS AT 31 MARCH 2021
| Note Fixed assets Current assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current liabilities Total assets less current liabilities Net liabilities excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
- 53,073 53,073 (97,285) |
2021 £ - (44,212) (44,212) (44,212) (44,212) - (44,212) (44,212) |
14,520 271 14,791 (107,905) |
2020 £ - (93,114) (93,114) (93,114) (93,114) - (93,114) (93,114) |
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees on 03 February 2022 and signed on their behalf by:
The notes on pages 7 to 11 form part of these financial statements.
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FRIENDS OF MOSDOS TORAH VEYIRAH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Friends of Mosdos Torah Veyirah meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
1.4 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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FRIENDS OF MOSDOS TORAH VEYIRAH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting policies (continued)
1.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
2. Income from donations and legacies
| Donations Donations |
Unrestricted funds 2021 £ 676,621 Unrestricted funds 2020 £ 824,816 |
Total funds 2021 £ 676,621 |
|---|---|---|
| Total funds 2020 £ 824,816 |
3. Other expenditure
| Bank charges Accountancy fees Independant examiner's fees |
Unrestricted funds 2021 £ 52 517 150 719 |
Total funds 2021 £ 52 517 150 |
|---|---|---|
| 719 |
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FRIENDS OF MOSDOS TORAH VEYIRAH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
3. Other expenditure (continued)
| General expenses Bank charges Accountancy fees Independant examiner's fee |
Unrestricted funds 2020 £ 228 67 150 150 595 |
Total funds 2020 £ 228 67 150 150 |
|---|---|---|
| 595 |
4. Analysis of expenditure by activities
| Grants to Institutions Torah Veyirah, Israel Grants to Institutions Torah Veyirah, Israel |
Grant funding of activities 2021 £ 627,000 Grant funding of activities 2020 £ 909,995 |
Total funds 2021 £ 627,000 |
|---|---|---|
| Total funds 2020 £ 909,995 |
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FRIENDS OF MOSDOS TORAH VEYIRAH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
5. Debtors
| 2021 £ Due within one year Other debtors - - 6. Creditors: Amounts falling due within one year 2021 £ Other creditors 97,285 7. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2021 £ Current assets 53,073 Creditors due within one year (97,285) Total (44,212) Analysis of net assets between funds - prior year Unrestricted funds 2020 £ Current assets 14,791 Creditors due within one year (107,905) Total (93,114) |
2020 £ 14,520 |
|---|---|
| 14,520 | |
| 2020 £ 107,905 |
|
| Total funds 2021 £ 53,073 (97,285) (44,212) Total funds 2020 £ 14,791 (107,905) (93,114) |
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FRIENDS OF MOSDOS TORAH VEYIRAH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
8. Related party transactions
During the period under review, the charity received donations totalling £21,450 (£2020: £35,270) from companies controlled by Mr C Berger, a trustee.
Loan balances amounting to £40,090 were owed to 2 companies controlled by Mr Berger at the balance sheet date.
9. Controlling party
The charity is controlled by the trustees.
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