**REGISTERED COMPANY NUMBER: 06473395 (England and Wales) REGISTERED CHARITY NUMBER: 1123360** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **FOR** ## **FRIENDS OF MAYANEI HAYESHUA MEDICAL CENTER LIMITED** Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH **FRIENDS OF MAYANEI HAYESHUA MEDICAL CENTER LIMITED** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ||**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| ## **FRIENDS OF MAYANEI HAYESHUA MEDICAL CENTER LIMITED (REGISTERED NUMBER: 06473395)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. 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 activities** The main purpose of the charity is to relieve sickness and to treat patients and former patients of Mayanei Hayeshua Medical Center who are sick, convalescent, disabled, handicapped or infirm and to generally support the charitable work of Mayanei Hayeshua Medical Center. ## **Significant activities** - to raise funds for the refurbishment and construction of new departments within the existing buildings. - to further the research in medical issues under orthodox Jewish law in relation to the hospital. - to provide funds to the hospital for meeting the ongoing costs. ## **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. ## **Grantmaking** The charity provides grants to Mayanei Hayeshua Medical Center in Israel. ## **ACHIEVEMENT AND PERFORMANCE** ## **Achievements and performance** During the year a successful fundraising campaign was held which helped increase the charity's income significantly. The charity continued its grant-making activities, donating £75,000 (2020: £40,000) to Mayanei Hayeshua Medical Centre in Israel. ## **Fundraising activities** - The Charity had a London event in order to raise awareness of the objectives of the Charity in terms of its continued financial assistance to the Mayanei Hayeshua Medical Center in Bnei Brak, Israel. ## **Internal and external factors** The Trustees have considered the potential impact of the Covid-19 pandemic, which has been spreading since early 2020, on the Charity's activities. The Trustees have taken appropriate action to follow government guidance and to mitigate the effects of Covid-19 on the finances of the charity. ## **FINANCIAL REVIEW** ## **Financial position** The trustees are satisfied with the Charity's financial position as at the year end of 31 March 2021. The charity had £109,117 unrestricted funds (2020: £38,695). ## **Reserves policy** There are no restricted reserves and all funds are available for distribution for qualifying purposes. All reserves will now remain distributable for qualifying purposes. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Page 1 **FRIENDS OF MAYANEI HAYESHUA MEDICAL CENTER LIMITED (REGISTERED NUMBER: 06473395)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Recruitment and appointment of new trustees** The trustees will be the present and past CEO of the hospital. They are appointed by the trustees of the Mayanei Hayeshua Medical Center. Bankers - HSBC plc, 88 The Broadway, London N10 3RX Solicitors - Elysium Law, Eastham Hall, 109 Eastham Village Road, Wirral, CH62 0AF ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 06473395 (England and Wales) ## **Registered Charity number** 1123360 ## **Registered office** Ground Floor, Sutherland House Northern & Midland Holdings Limited 70/78 West Hendon Broadway London NW9 7BT ## **Trustees** Mr G Lider Director Mr S Z Rotshild Director Dr R Landau Director ## **Independent Examiner** Aryeh Melinek FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH The charity's website is www.mayaneihayeshua.org Approved by order of the board of trustees on 30 December 2021 and signed on its behalf by: Dr R Landau - Trustee Page 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF MAYANEI HAYESHUA MEDICAL CENTER LIMITED** ## **Independent examiner's report to the trustees of Friends Of Mayanei Hayeshua Medical Center Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** 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: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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 30 December 2021 Page 3 ## **FRIENDS OF MAYANEI HAYESHUA MEDICAL CENTER LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021** |**2021**
**Unrestricted**
**fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**219,786**
**EXPENDITURE ON**
Raising funds
**21,014**
**Charitable activities**
Charitable activities
**53,350**
Grants to Mayanei Hayeshua Medical Center,
Israel
**75,000**
**Total**
**149,364**
**NET INCOME/(EXPENDITURE)**
**70,422**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**38,695**
**TOTAL FUNDS CARRIED FORWARD**
**109,117**|2020
Total
funds
£
15,369
4,835
4,619
40,000
49,454
(34,085)
72,780
38,695| |---|---| The notes form part of these financial statements Page 4 ## **FRIENDS OF MAYANEI HAYESHUA MEDICAL** ## **CENTER LIMITED (REGISTERED NUMBER: 06473395)** ## **BALANCE SHEET 31 MARCH 2021** |**2021**
**Unrestricted**
**fund**
Notes
**£**
**CURRENT ASSETS**
Cash at bank
**110,872**
**CREDITORS**
Amounts falling due within one year
5
**(1,755)**
**NET CURRENT ASSETS**
**109,117**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**109,117**
**NET ASSETS**
**109,117**
**FUNDS**
Unrestricted funds
**109,117**
**TOTAL FUNDS**
**109,117**|2020
Total
funds
£
40,195
(1,500)
38,695
38,695
38,695
38,695
38,695| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. ## The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 30 December 2021 and were signed on its behalf by: Dr R Landau - Trustee The notes form part of these financial statements Page 5 **FRIENDS OF MAYANEI HAYESHUA MEDICAL CENTER LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** Gross income represents the value of donations received, whether in money or kind. ## **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 corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Financial instruments** The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors and loans from banks. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in Statement of Financial Activities. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Legal status of the charity** The liability of each member is limited to £1, being the amount that each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year after he ceases to be a member. continued... Page 6 ## **FRIENDS OF MAYANEI HAYESHUA MEDICAL CENTER LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021** |**2.**
**GRANTS PAYABLE**
Grants to Mayanei Hayeshua Medical Center, Israel|**2021**
**£**
**75,000**|2020
£
40,000| |---|---|---| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: ## **5.** |Employees
No employees received emoluments in excess of £60,000.
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Pension
Accruals and deferred income||**2021**
**1**
**2021**
**£**
**255**
**1,500**
**1,755**|2020
-
2020
£
-
1,500
1,500|2020
-
2020
£
-
1,500
1,500| |---|---|---|---|---| |||||| |||||1,500| ## **6. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2021. Page 7