2022-03-31-accounts - Mifal Tov Vachesed

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Charity Number 1136991

MIFAL TOV VACHESED

FINANCIAL STATEMENTS 31 MARCH 2022

MIFAL TOV VACHESED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

CONTENTS	PAGE
Trustees and professional advisers	1
Trustees Annual Report	2
Statement of Trustees responsibilities	4
Independent examiner statement	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8-10

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 2022

The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2022.

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 £90,198 donations during the year. The unrestricted fund balance of the company was £41,488.

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MIFAL TOV VACHESED TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 31 MARCH 2022

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

12 January 2023

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MIFAL TOV VACHESED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

YEAR ENDED 31 MARCH 2022

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

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

I report on the accounts of the charity for the year ended 31 March 2022 set out on pages 6 to 10.

Respective Responsibilities of Trustees and Independent Examiner

The charity’s trustees 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 (“the Act”) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Act;
to follow the procedures laid down in the general directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act); and
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 the 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:

a) which gives me reasonable cause to believe that, in any material respect, the requirements:
to keep accounting records in accordance with Section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Js&Co Accountant Ltd 26 Theydon Road London E5 9NA

12 January 2023

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MIFAL TOV VACHESED

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022

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 2022 £ £ 90,198 90,198	Total 2021 £ 95,088
	90,198 90,198 14,576 14,576 35,966 35,966 1,403 1,403 51,945 51,945 38,253 38,253 3,235 3,235 41,488 41,488	95,088 16,032 86,327 2,064
		104,423 -9,335 12,570
		3,235

The Notes form part of the financial statements

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MIFAL TOV VACHESED

2022 Notes £ £ FIXED ASSETS Fixtures & Fittings 5 82 82 CURRENT ASSETS: Cash at bank and in hand 41,946 41,946 CREDITORS: amounts falling due within one year 6 -540 Net Current assets/(liabilities) 41,488 NET ASSETS: 41,488 FUNDS 7 Unrestricted funds 41,488 TOTAL FUNDS 41,488 Approved by the board of Trustees on: And signed on their behalf by: 12 January 2023 BALANCE SHEET 31-Mar-22	2021 £ £ 102 102 4,165 4,165 -1,032 3,235 3,235 3,235 3,235	2021 £ £ 102 102 4,165 4,165 -1,032 3,235 3,235 3,235 3,235

		3,235
		3,235
		3,235

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 2022

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 2022.

Trustees Expenses

There were no trustees expenses paid for the year ended 31March 2022.

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MIFAL TOV VACHESED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

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 £ 90,198 90,198 14,576 35,946 20 50,542 540 429 434 1,403 51,945 38,253 38,253 12,570 50,823	Total 2022 £ 90,198 90,198 14,576 35,946 20 50,542 540 0 429 434 1,403 51,945 38,253 38,253 3,235 41,488	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

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MIFAL TOV VACHESED

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2022

7 FIXED ASSETS

7 FIXED ASSETS
COST: At 1 April 2021 Additions At 31 March 2022 DEPRECIATION: At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE: At 31 March 2022 At 31 March 2021 8 CREDITORS DUE WITHIN ONE YEAR Accruals Unrestricted funds General fund TOTAL FUNDS	At 1.04.21 £ 3,235	Fixture and fittings £ 312 0 312	Totals £ 312 0
			312
		210 20 230 82	210 20
			230 82
		102	102
		2022 £ 540 540 Net movement in funds £ 38,253 38,253	2021 £ 528
			528
			At 31.03.22 £ 41,488
	3,235		41,488

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

Unrestricted funds General fund TOTAL FUNDS	Incoming Rescources resources expended £ £ 90,198 51,945 90,198 51,945	Movement in funds £ 38,253
		38,253

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