**Charity number: 1119479** ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2024** ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 3| |**Independent examiner's report**|4| |**Statement of financial activities**|5| |**Balance sheet**|6| |**Notes to the financial statements**|7 - 10| ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024** **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 Page 1 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** The Trustees present their annual report together with the financial statements of the charity for the 1 April 2023 to 31 March 2024. ## **Objectives and activities** ##  **Policies and objectives** 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 In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ##  **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. ## **Achievements and performance** ##  **Main achievements of the charity** Income from donations was £919,664 (2023 £806,271) and total resources expended were £1,172,411 (2023: £761,693) resulting in a deficit of £252,747 (2023:surplus of £44,578). The financial results of the Charity's activities for the year to 31 March 2024 are fully reflected in the attached Financial Statement together with the Notes thereon. ## **Financial review** ##  **Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ##  **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. Page 2 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **Structure, governance and management** ##  **Constitution** Friends of Mosdos Torah Veyirah is a registered charity, number 1119479, and is constituted under a Trust deed. ## **Statement of Trustees' responsibilities** The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 27 January 2025 and signed on their behalf by: ## ................................................ **Joseph Alexander Goldstein** Trustee Page 3 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **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 2024. ## **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: 1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 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. Signed: Dated: 27 January 2025 Daniel Wolffe FCCA 34 Braydon Road London N16 6QB Page 4 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** |**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**
**2024**
**£**
**919,664**
**919,664**
**1,172,263**
**148**
**1,172,411**
**(252,747)**
**227**
**(252,747)**
**(252,520)**|**Total**
**funds**
**2024**
**£**
**919,664**
**919,664**
**1,172,263**
**148**
**1,172,411**
**(252,747)**
**227**
**(252,747)**
**(252,520)**|_Total_
_funds_
_2023_
_£_
_806,271_
_806,271_
_761,325_
_368_
_761,693_
_44,578_
_(44,351)_
_44,578_
_227_| |---|---|---|---| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 7 to 10 form part of these financial statements. Page 5 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **BALANCE SHEET AS AT 31 MARCH 2024** |**Note**
**Fixed assets**
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within one
year
6
**Net current liabilities / assets**
**Total assets less current liabilities**
**Net liabilities / assets excluding pension**
**asset**
**Total net assets**
**Charity funds**
Restricted funds
Unrestricted funds
**Total funds**|**222**
**222**
**(252,742)**|**2024**
**£**
**-**
**(252,520)**
**(252,520)**
**(252,520)**
**(252,520)**
**-**
**(252,520)**
**(252,520)**|_86,645_
_86,645_
_(86,418)_|_2023_
_£_| |---|---|---|---|---| |||||_-_
_227_| |||||_227_| |||||_227_| |||||| |||||_227_| |||||_-_
_227_| |||||| |||||_227_| The financial statements were approved and authorised for issue by the Trustees on 27 January 2025 and signed on their behalf by: ## **Chaskel Berger** ## Trustee The notes on pages 7 to 10 form part of these financial statements. Page 6 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **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 2019), 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 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 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. ## **1.5 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** ||**Unrestricted**|**Total**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2024**| ||**£**|**£**| |Donations|919,664|**919,664**| Page 7 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **2. Income from donations and legacies (continued)** ||_Unrestricted_|_Total_| |---|---|---| ||_funds_|_funds_| ||_2023_|_2023_| ||_£_|_£_| |Donations|_806,271_|_806,271_| ## **3. Other expenditure** |**Unrestricted**
**funds**
**2024**
**£**
Bank charges
55
Accountancy fees
93
148
_Unrestricted_
_funds_
_2023_
_£_
Bank charges
_56_
Accountancy fees
_312_
_368_
**4.**
**Analysis of expenditure by activities**
**Grant**
**funding of**
**activities**
**2024**
**£**
Grants to Institutions Torah Veyirah, Israel
1,172,263|**Total**
**funds**
**2024**
**£**
**55**
**93**| |---|---| ||**148**| ||_Total_
_funds_
_2023_
_£_
_56_
_312_| ||_368_| ||**Total**
**funds**
**2024**
**£**
**1,172,263**| Page 8 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **4. Analysis of expenditure by activities (continued)** ||_Grant_|| |---|---|---| ||_funding of_|_Total_| ||_activities_|_funds_| ||_2023_|_2023_| ||_£_|_£_| |Grants to Institutions Torah Veyirah, Israel|_761,325_|_761,325_| ## **5. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ . During the year ended 31 March 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ . ## **6. Creditors: Amounts falling due within one year** |Other creditors
**7.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**|**2024**
**£**
**252,742**|_2023_
_£_
_86,418_| |---|---|---| |||| |**Unrestricted**
**funds**
**2024**
**£**
Current assets
222
Creditors due within one year
(252,742)
**Total**
(252,520)|**Total**
**funds**
**2024**
**£**
**222**
**(252,742)**| |---|---| ||**(252,520)**| Page 9 ## **FRIENDS OF MOSDOS TORAH VEYIRAH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **7. Analysis of net assets between funds (continued)** ## **Analysis of net assets between funds - prior period** |Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2023_
_£_
_86,645_
_(86,418)_
_227_|_Total_
_funds_
_2023_
_£_
_86,645_
_(86,418)_
_227_| |---|---|---| ## **8. Related party transactions** During the period under review, the charity received donations totalling £61,715 (2023: £34,400) from companies controlled by Mr C Berger, a trustee. Included in other creditors are amounts totalling £102,180 due to companies of which Mr C Berger is a director. ## **9. Controlling party** The charity is controlled by the trustees. Page 10