2021-04-30-accounts - Belz Machnovka (M/c) Ltd

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BELZ MACHNOVKA (M/C) LTD

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021 (LIMITED BY GUARANTEE)

COMPANY REGISTRATION NUMBER 6561919 CHARITY NUMBER 1124718

BELZ MACHNOVKA (M/C) LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

	Page
Company Information	1
Report of the trustees	2
Statement of financial activities	4
Balance sheet	5
Notes to the financial statements	6
Independent Examiners report	8

BELZ MACHNOVKA (M/C) LTD COMPANY INFORMATION FOR THE YEAR ENDED 30 APRIL 2021

REGISTERED CHARITY NAME: Belz Machnovka (M/C) Ltd CHARITY NUMBER: 1124718 DIRECTORS/TRUSTEES: Shimon Y Brander Abraham E Waldman David Spitzer REGISTERED OFFICE: Enterprise House 3 Middleton Road Manchester M8 5DT REGISTERED NUMBER: 6561919 (England and Wales) ACCOUNTANTS: B Olsberg & Co Enterprise House 3 Middleton Road Manchester M8 5DT

BANKERS:

INDEPENDENT EXAMINER:

Barclays Bank 51 Mosley Street Manchester BX3 2BB B Olsberg & Co Chartered Accountant Enterprise House 3 Middleton Road Manchester M8 5DT

-1-

BELZ MACHNOVKA (M/C) LTD REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 APRIL 2021

The trustees, who are also directors of the Charity for the purpose of the Companies Act have pleasure in presenting their report and financial statements of the charitable company for the year ended 30 April 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005 in preparing the financial statements of the Charity.

OBJECTIVES OF BELZ MACHNOVKA (M/C) LTD

Belz Machnovka (M/c) Limited is governed by its Memorandum and Articles of Association and its main objective is to operate a synagogue and associated activities.

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 charity’s aims and objectives and in future planning activities. In particular we have referred to the specific guidance on charities for the advancement of religion.

LEGAL STATUS

The company is limited by guarantee and is governed by its memorandum and articles of association dated 10 April 2008. The company is a registered charity - number 1124718.

PRINCIPAL ACTIVITY AND REVIEW OF THE YEAR

The principal activity of the Charity in the period under review was to provide premises to be used as a synagogue and the running thereof. It also provided funds to help the needy.

ORGANISATION

The charity is managed by a committee of the trustees who are also the company directors.

INVESTMENT POWERS AND RESTRICTIONS

The trustees have wide-ranging investment powers to invest the Charity's assets as they see fit in the furtherance of the Charity's objectives but no investments are currently held.

REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS

The financial statements for the year show a surplus of £14,246 (2020 surplus £18,241). The trustees consider the financial position of the charity to be satisfactory, on the basis of substantial retained reserves.

The financial statements conform to current statutory requirements and comply with the Charity's governing documents.

RESERVES POLICY

The charity was holding reserves at the year end to cover future running costs of the synagogue and for the eventual repayment of the mortgage.

REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS

Belz Machnovka (M/c) Ltd acquired a property for use as a synagogue which was refurbished for use.. The charity bears the synagogue’s running costs.

THE TRUSTEES

The trustees who served the charitable company during the year were:A Hoffman S Y Brander A E Waldman

BELZ MACHNOVKA (M/C) LTD REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 APRIL 2021

RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also the directors of Belz Machnovka (M/C) Ltd (Limited by Guarantee) for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company 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 in the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK 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 charitable company will continue in operation.

RESPONSIBILITES OF THE TRUSTEES

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies and the Statement of Recommended Practice (SORP) 2005 'Accounting and Reporting by Charities'.

SIGNED ON BEHALF OF THE TRUSTEES:

S Y BRANDER

…………………………………………………

Dated 29 April 2022

BELZ MACHNOVKA (M/C) LTD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2021

INCOME AND EXPENDITURE ACCOUNT

108,887 5,220 114,107	108,887 5,220 114,107	108,887 5,220 114,107
66,330 22,578 6,958 95,866 18,241 167,226	66,330 22,578
	6,958 95,866	6,958
185,467

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of all the recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

BELZ MACHNOVKA (M/C) LTD

BALANCE SHEET AS AT 30 APRIL 2021

Note FIXED ASSETS 2 CURRENT ASSETS: Bank Debtors LESS CREDITORS:Due within one year 5 LESS CREDITORS:Due beyond one year 6 TRUST FUNDS: Unrestricted Funds	2021 £ £ 326,827 7,049 - 7,049 (19,360) (12,311) 314,516 (114,802) 199,714 199,714	£ 1,440 4,500 5940 (16,960)	2020 £ 328,370 (11,020) 317,350 (131,883)	2020 £ 328,370 (11,020) 317,350 (131,883)
				185,467
				185,467

The trustees/directors are satisfied that the charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The trustees acknowledge their responsibilities for:

(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and
(ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.

These financial statements were approved by the trustees on 29 April 2022 and signed on its behalf by:

S Y BRANDER Director

Company Registration Number: 6561919

BELZ MACHNOVKA (M/C) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets, and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice “Accounting and Reporting by Charities” issued in March 2005 (SORP 2005) and the Companies Act 2006.

Change in basis of Accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

Change to previous accounts

No changes have been made to accounts for previous years.

INCOMING RESOURCES

Recognition of incoming resources

These are included in the Statements of Financial Activities (SOFA) when:

The charity becomes entitled to the resources;
The trustees are virtually certain they will receive the resources; and The monetary value can be measured with sufficient reliably.

Incoming resources with related expenditure

Where incoming resources have related expenditure (as with fundraising Contract or investment income) the incoming resources and related Expenditure are reported gross in SOFA.

Fund Accounting

General unrestricted funds compromise the accumulated surplus of 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.

Restricted funds are funds subject to specific restricted conditions imposed by donors. There are no restricted funds as at the Balance Sheet date.

Designated funds are funds which have been set aside at the discretion of the Trustees for specific purposes. There are no designated funds as at the Balance Sheet date.

BELZ MACHNOVKA (M/C) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

2.

FIXED ASSETS	Freehold	Furniture	TOTAL
(For use by the Charity)	Property	Fixtures &
		Fittings &
		Library
	£	£	£
Cost
As at 1 May 2020	312,940	30,531	343,471
Additions	-	-	-
As at 30 April 2021	312,940	30,531	343,471
Depreciation
As at 1 May 2020	-	15,101	15,101
Charge for the year	-	1,543	1,543
As at 30 April 2021	-	16,644	16,644
Written Down Value
As at 30 April 2021 30 April 2020	312,940 312,940	13,887 15,430	326,827 328,370

3. TRUSTEES REMUNERATION AND EXPENSE

No remuneration directly or indirectly out of the funds of the charitable company, was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them.

4. EMPLOYEE COSTS

The Charity had no employees in the year and incurred no employee costs.

5. CREDITORS : Amounts falling due within one year.

Bank Loan Expenses Accrued Loan 6. CREDITORS: Due beyond one year Bank Loan secured on freehold property	2021 £ 14,000 3,860 _1,500 19,360 114,802	2020 £ 11,000 4,460 1,500 16,960 131,883

7. CONTROL

The Charity is controlled by its trustees.

BELZ MACHNOVKA (M/C) LTD INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BELZ MACHNOVKA (M/C) LTD

I report on the accounts of the charity for the year ended 30 April 2021 which are set out on pages 4-7.

RESPECTIVE RESPONSIBILITES OF TRUSTEES AND INDEPENDENT EXAMINER

The trustees (who are also the directors of Belz Machnovka (M/C) Limited ( Limited by Guarantee) for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed. The Charity is required by law to prepare accrued accounts and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants of England & Wales.

Having been satisfied that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5) of the 2011 Act; and
to state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with s386 of the Companies Act 2006; and
to prepare accounts which accord with the accounting records, and to comply with the accounting requirements of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2005) have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Bernard Olsberg B Olsberg & Co FCA Enterprise House, 3 Middleton Road, Manchester M8 5DT

29 April 2022