2021-03-31-accounts - Mifal Tov Vachesed

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Charity Number 1136991

MIFAL TOV VACHESED

FINANCIAL STATEMENTS 31 MARCH 2021

MIFAL TOV VACHESED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

CONTENTS	PAGE
Trustees and professional advisers	1
Trustees Annual Report	2
Statement of Trustees responsibilities	4
Statement of financial activities	5
Balance sheet	6
Notes to the financial statements	7-8
Detailed statement of financial activities	9

MIFAL TOV VACHESED

TRUSTEES AND PROFESSIONAL ADVISERS

Registered charity name	MIFAL TOV VACHESED
Charity number	1136991
Principal office	Woodberry Manor
	Woodberry Close
	Canvey island SS8 9PP
Trustees	J Sofer
	J Gross
	G Tesler
Accountant	JS&Co Accountants Ltd
	26 Theydon Road
	London
	E5 9NA
Bankers	HSBC

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MIFAL TOV VACHESED TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 31 MARCH 2021

The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the financial statements.

THE TRUSTEES

The trustees who served the company during the period were as follows:

J Sofer J Gross G Tesler

All major decisions are taken collectively by the trustees.

The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Mifal Tov Vachesed is constituted under a deed dated 14 March 2010. It is a registered charity number 1136991 and was registered on 21 July 2010.

Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.

RISK REVIEW

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.

OBJECTIVES AND ACTIVITIES

To relive poverty sickness and infirmity, in the orthodox Jewish faith around the world. and for such other purposes as for the benefit of the public, and as recognized as charitable, according to the English law.

RISK MANAGEMENT

The trustees have put in place systems to identify risks and review the systems regularly.

A REVIEW OF OUR ACHIEVEMENTS AND PERFORMANCES

We had very good reviews of our achievements and are pleased with the donations that we have received from our generous donors. This helped us to increase the grants to many more needy people in our community.

The charity received £95,088 in donations during the year. The unrestricted fund balance of the company was £3,235.

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MIFAL TOV VACHESED TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 31 MARCH 2021

RESERVES

The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure, and they feel fortunate in having been able to maintain that level of reserves.

PLANS FOR THE FUTURE

Our plan is to be able to resume with our current programmes in the future and continue to assist the needy.

We hope to get more donations to enable us to support even more of the needy.

Signed on behalf of the trustees

Trustee

19 January 2022

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MIFAL TOV VACHESED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

YEAR ENDED 31 MARCH 2021

The charity's trustees 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).

The law applicable to charities in England and Wales 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 of the charity 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 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 operation.

The trustees are responsible for keeping proper accounting records that 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 and the Charity (Accounts and Reports) Regulations 2008. The trustees 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.

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MIFAL TOV VACHESED

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2021

Notes INCOMING RESOURCES Incoming resources from generated funds Grants and donations 3 Total Incoming resources RESOURCES EXPENDED 4 Cost of Generating funds Fundraising Costs Costs of charitable activities Services running Cost Governance costs Total resources expended NET INCOMING/(OUTGOING) RESOURCES RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds Total 2021 £ £ 95,088 95,088	Total 2020 £ 110,382
	95,088 95,088 16,032 16,032 86,327 86,327 2,064 2,064 104,423 104,423 -9,335 -9,335 12,570 12,570 3,235 3,235	110,382 17,990 84,072 1,634
		103,696 6,686 5,884
		12,570

The Notes form part of the financial statements

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MIFAL TOV VACHESED

2021 Notes £ £ FIXED ASSETS Fixtures & Fittings 5 102 102 CURRENT ASSETS: Cash at bank and in hand 4,165 4,165 CREDITORS: amounts falling due within one year 6 -1,032 Net Current assets/(liabilities) 3,235 NET ASSETS: 3,235 FUNDS 7 Unrestricted funds 3,235 TOTAL FUNDS 3,235 Approved by the board of Trustees on: And signed on their behalf by: 19 January 2022 BALANCE SHEET 31-Mar-21	2020 £ £ 128 128 12,946 12,946 -504 12,570 12,570 12,570 12,570	2020 £ £ 128 128 12,946 12,946 -504 12,570 12,570 12,570 12,570

		12,570
		12,570
		12,570

Trustee

The Notes form part of these financial statements

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MIFAL TOV VACHESED

NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 March 2021

1 ACCOUNTING POLICIES

Accounting convention

These accounts have been prepared in accordance with the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015). In preparing the accounts, the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP) issued in March 2005. Where there is a conflict between the FRSSE and the SORP, the SORP has been adopted in accordance with paragraph 419ff of the SORP.

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on accurals 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 consitent with the use of resources

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost residual value of each asset over its expected useful life, as follows:

Fixture and fittings - 20% reducing balance

2 TRUSTEES REMUNERATION AND BENEFITS

There were no trustees remuneration or other benefits for the year ended 31 March 2021.

Trustees Expenses

There were no trustees expenses paid for the year ended 31March 2021.

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MIFAL TOV VACHESED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021

INCOMING RESOURCES

Incoming resources from generated funds 3 Grants and donations Total incoming resources 4 RESOURCES EXPENDED Fundraising Costs Services running Cost Grants made Depreciation Governance costs Accountancy Professional fees Telephone Bank charges Total resources expended NET INCOME FOR THE YEAR RECONCILIATION OF FUNDS NET INCOME FOR YEAR Total Funds Brought Forward Total Funds Carried Forward	Unrestricted funds £ 95,088 95,088 16,032 86,301 26 102,359 528 650 399 487 2,064 104,423 -9,335 -9,335 12,570 3,235	Total 2021 £ 95,088 95,088 16,032 86,301 26 102,359 528 650 399 487 2,064 104,423 -9,335 -9,335 12,570 3,235	Total 2020 £ 110,382
			110,382 17,990 84,040 32
			102,062 504 0 338 792
			1,634
			103,696 6,686 6,686 5,884
			12,570

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MIFAL TOV VACHESED

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2021

7 FIXED ASSETS

7 FIXED ASSETS
COST: At 1 April 2020 Additions At 31 March 2021 DEPRECIATION: At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE: At 31 March 2021 At 31 March 2020 8 CREDITORS DUE WITHIN ONE YEAR Accruals Unrestricted funds General fund TOTAL FUNDS	At 1.04.20 £ 12,570	Fixture and fittings £ 312 0 312	Totals £ 312 0
			312
		184 26 210 102	184 26
			210 102
		128	128
		2021 £ 528 528 Net movement in funds £ -9,335 -9,335	2020 £ 504
			504
			At 31.03.21 £ 3,235
	12,570		3,235

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming Rescources resources expended £ £ 95,088 104,423 95,088 104,423	Movement in funds £ -9,335
		-9,335

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