**REGISTERED CHARITY NUMBER: 1124174** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **FOR** ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Statement of Trustees' Responsibilities**||3|| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Statement of Financial Position**||6|| |**Statement of Cash Flows**||7|| |**Notes to the Statement of Cash Flows**||8|| |**Notes to the Financial Statements**|9|to|14| **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** The charity was constituted by Declaration of Trust dated 11th April 2008. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** ## Charitable objects The objects of the charity are the furtherance of the Orthodox Jewish religion by way of support to educational institutions, assisting in the reduction of poverty and granting help for charitable causes at the discretion of the trustees. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. ## Synagogue The charity is responsible for the maintenance of premises used as a synagogue. The property is used rent free but any maintenance and repairs are the responsibility of the charity. Extensive expenditure was and will continue to be incurred in order to make the property suitable for use as a synagogue. The property is owned by another charity. The synagogue is used as a study hall and food is now provided to those requiring the facilities. ## Summer camp The charity assists with the finance of a summer camp for youth who are connected with the local Satmar community. This includes paying for the rent of suitable premises for the camp as well as for food and transport. ## Medical assistance The charity assists when requested with medical expenses incurred by individuals who are unable to pay. ## Grants The charity makes grants to charitable causes both in the UK and overseas. Such grants are made after extensive enquiries by the trustees and following satisfactory recommendations. ## **Grantmaking** The charity is controlled by local trustees who are very familiar with all the charitable causes that the charity supports. Regular meetings are held to review and discuss the charity's activities. ## **ACHIEVEMENT AND PERFORMANCE** ## **Fundraising activities** The charity received £532,256 (2023: £641,183) in donations during the year. With the increase in donations received the charity was able to provide grants amounting to £554,544 (2023: £646,047). There were fundraising costs incurred during the year amounting to £5,444 (2023: £9,499). ## **Internal and external factors** The trustees have put in place systems to identify risks and review the systems regularly. ## **FINANCIAL REVIEW** The charity's income increased during the year and accordingly the charity was able to make substantial increases in the grants made. The reserves have increased and will be carried forward. ## **FUTURE PLANS** The charity plans to continue its activities subject to satisfactory incoming resources ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Recruitment and appointment of new trustees** It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures Page 1 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Organisational structure** The charity is controlled by local trustees who are very familiar with all the charitable causes that the charity supports. Regular meetings are held to review and discuss the charity's activities. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1124174 ## **Principal address** 66A Chardmore Road London N16 6JH ## **Trustees** S Gross M Rothbart ## **Independent Examiner** Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL Approved by order of the board of trustees on 24 January 2025 and signed on its behalf by: M Rothbart - Trustee Page 2 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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. Page 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **Independent examiner's report to the trustees of Congregation Vyoel Moshe D'Satmer Charit able Trust** I report to the charity trustees on my examination of the accounts of Congregation Vyoel Moshe D'Satmer Charit able Trust (the Trust) for the year ended 31 March 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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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. Malcolm A Venitt The Institute of Chartered Accountants in England and Wales Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL 24 January 2025 Page 4 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** |31.3.24
Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
532,256
Investment income
3
18
**Total**
532,274
**EXPENDITURE ON**
**Raising funds**
Raising donations and legacies
4
5,444
5,444
**Charitable activities**
5
Charitable activities
554,544
Other
5,159
**Total**
565,147
**NET INCOME/(EXPENDITURE)**
(32,873)
**RECONCILIATION OF FUNDS**
Total funds brought forward
45,237
**TOTAL FUNDS CARRIED FORWARD**
12,364|31.3.23
Total
funds
£
641,183
21
641,204
9,499
9,499
646,710
6,224
662,433
(21,229)
66,466
45,237| |---|---| The notes form part of these financial statements Page 5 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **STATEMENT OF FINANCIAL POSITION 31 MARCH 2024** |||31.3.24|31.3.23| |---|---|---|---| |||Unrestricted|Total| |||funds|funds| ||Notes|£|£| |**FIXED ASSETS**|||| |Tangible assets|10|9,234|10,864| |**CURRENT ASSETS**|||| |Debtors|11|36,500|44,010| |Cash at bank and in hand||14,553|22,054| |||51,053|66,064| |**CREDITORS**|||| |Amounts falling due within one year|12|(47,923)|(31,691)| |**NET CURRENT ASSETS**||3,130|34,373| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||12,364|45,237| |**NET ASSETS**||12,364|45,237| |**FUNDS**|13||| |Unrestricted funds||12,364|45,237| |**TOTAL FUNDS**||12,364|45,237| The financial statements were approved by the Board of Trustees and authorised for issue on 24 January 2025 and were signed on its behalf by: M Rothbart - Trustee S Gross - Trustee The notes form part of these financial statements Page 6 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024** |||31.3.24|31.3.23| |---|---|---|---| ||Notes|£|£| |**Cash flows from operating activities**|||| |Cash generated from operations|1|(7,519)|(18,547)| |Net cash used in operating activities||(7,519)|(18,547)| |**Cash flows from investing activities**|||| |Interest received||18|21| |Net cash provided by investing activities||18|21| ||||| |**Change in cash and cash equivalents in the**|||| |**reporting period**||(7,501)|(18,526)| |**Cash and cash equivalents at the beginning**|||| |**of the reporting period**||22,054|40,580| |**Cash and cash equivalents at the end of the**|||| |**reporting period**||14,553|22,054| The notes form part of these financial statements Page 7 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024** ## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES** ||31.3.24|31.3.23| |---|---|---| ||£|£| |**Net expenditure for the reporting period (as per the Statement of**||| |**Financial Activities)**|(32,873)|(21,229)| |**Adjustments for:**||| |Depreciation charges|1,630|1,917| |Interest received|(18)|(21)| |Decrease in debtors|7,510|-| |Increase in creditors|16,232|786| |**Net cash used in operations**|(7,519)|(18,547)| ## **2.** ## **ANALYSIS OF CHANGES IN NET FUNDS** |At 1.4.23
Cash flow
At
£
£
**Net cash**
Cash at bank and in hand
22,054
(7,501)
22,054
(7,501)
**Total**
22,054
(7,501)|31.3.24
£
14,553| |---|---| ||14,553| ||14,553| The notes form part of these financial statements Page 8 **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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. ## **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. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 15% on reducing balance ## **Taxation** The charity is exempt from 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. ## **2. DONATIONS AND LEGACIES** ||31.3.24|31.3.23| |---|---|---| ||£|£| |Donations|532,256|641,183| continued... Page 9 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **3. INVESTMENT INCOME** |31.3.24
£
Deposit account interest
18
**4.**
**RAISING DONATIONS AND LEGACIES**
31.3.24
£
Hire Equipments
3,518
Print
1,500
Other office expenses
426
5,444
**5.**
**CHARITABLE ACTIVITIES COSTS**
Charitable activities
**6.**
**SUPPORT COSTS**
Governance
Management
Finance
costs
£
£
£
Other resources expended
417
1,112
3,630|31.3.23
£
21
31.3.23
£
8,603
539
357
9,499
Direct
Costs
£
554,544| |---|---| ||Totals
£
5,159| ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. continued... Page 10 **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **8. STAFF COSTS** |Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
The average employee during the year
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
**Raising funds**
Raising donations and legacies
**Charitable activities**
Charitable activities
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.3.24
31.3.23
£
£
147,360
145,535
616
919
147,976
146,454
31.3.24
31.3.23
16
15
Unrestricted
funds
£
641,183
21
641,204
9,499
9,499
646,710
6,224
662,433
(21,229)
66,466
45,237| |---|---| ## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** continued... Page 11 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **10. TANGIBLE FIXED ASSETS** |**10.**|**TANGIBLE FIXED ASSETS**|||| |---|---|---|---|---| |||||Fixtures| |||||and| |||||fittings| |||||£| ||**COST**|||| ||At 1 April 2023 and 31 March 2024|||60,637| ||**DEPRECIATION**|||| ||At 1 April 2023|||49,773| ||Charge for year|||1,630| ||At 31 March 2024|||51,403| ||**NET BOOK VALUE**|||| ||At 31 March 2024|||9,234| ||At 31 March 2023|||10,864| |**11.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| ||||31.3.24|31.3.23| ||||£|£| ||Other debtors||36,500|44,010| |**12.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| ||||31.3.24|31.3.23| ||||£|£| ||Taxation and social security||615|(1,235)| ||Other creditors||47,308|32,926| ||||47,923|31,691| |**13.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.4.23|in funds|31.3.24| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|45,237|(32,873)|12,364| ||**TOTAL FUNDS**|45,237|(32,873)|12,364| continued... Page 12 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **13. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
532,274
**TOTAL FUNDS**
532,274
**Comparatives for movement in funds**
At 1.4.22
£
**Unrestricted funds**
General fund
66,466
**TOTAL FUNDS**
66,466
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
641,204
**TOTAL FUNDS**
641,204
A current year 12 months and prior year 12 months combined position is as follows:
At 1.4.22
£
**Unrestricted funds**
General fund
66,466
**TOTAL FUNDS**
66,466|Resources
Movement
expended
in funds
£
£
(565,147)
(32,873)
(565,147)
(32,873)
Net
movement
At
in funds
31.3.23
£
£
(21,229)
45,237
(21,229)
45,237
Resources
Movement
expended
in funds
£
£
(662,433)
(21,229)
(662,433)
(21,229)
Net
movement
At
in funds
31.3.24
£
£
(54,102)
12,364
(54,102)
12,364| |---|---| continued... Page 13 ## **CONGREGATION VYOEL MOSHE D'SATMER CHARIT ABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **13. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|1,173,478|(1,227,580 )|(54,102)| |**TOTAL FUNDS**|1,173,478|(1,227,580 )|(54,102)| ## **14. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2024. Page 14