**Charity Number 1136991**
## **MIFAL TOV VACHESED**
**FINANCIAL STATEMENTS 31 MARCH 2024**
**MIFAL TOV VACHESED**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
|**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|
**- 1 -**
## **MIFAL TOV VACHESED TRUSTEES ANNUAL REPORT** _**(continued)**_ **YEAR ENDED 31 MARCH 2024**
The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
## **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.
We have also started now providing special events for orphans. The charity received £78,359 donations during the year. The unrestricted fund balance of the company was £10.202.
**- 2 -**
## **MIFAL TOV VACHESED TRUSTEES ANNUAL REPORT** _**(continued)**_ **YEAR ENDED 31 MARCH 2024**
## **RESERVES**
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure, however this year the amount was lower because of the new services we offer.
We hope to have it back to the required level the following year.
## **PLANS FOR THE FUTURE**
Our plan is to expand our services by adding additional programs , activities and help for the needy.
Signed on behalf of the trustees
## **Trustee**
30 December 2024
**- 3 -**
## **MIFAL TOV VACHESED**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## **YEAR ENDED 31 MARCH 2024**
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.
**- 4 -**
**MIFAL TOV VACHESED**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
I report on the accounts of the charity for the year ended 31 March 2024 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
30 December 2024
-5-
## **MIFAL TOV VACHESED**
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024
|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 2024
£
£
78,359
78,359|Total 2023
£
110,272|
|---|---|---|
||78,359
78,359
19,809
19,809
125,115
125,115
2,734
2,734
147,658
147,658
-69,299
-69,299
79,501
79,501
**10,202**
**10,202**|110,272
13,778
56,267
2,214|
|||72,259
38,013
41,488|
|||**79,501**|
The Notes form part of the financial statements
**-6-**
## MIFAL TOV VACHESED
|2024
Notes
£
£
FIXED ASSETS
Fixtures & Fittings
5
709
709
CURRENT ASSETS:
Debtors
6
0
Cash at bank and in hand
10,093
10,093
CREDITORS: amounts falling
due within one year
7
-600
Net Current assets/(liabilities)
10,202
NET ASSETS:
10,202
FUNDS
8
Unrestricted funds
10,202
TOTAL FUNDS
10,202
Approved by the board of Trustees on:
And signed on their behalf by:
30 December 2024
BALANCE SHEET
31-Mar-24|2023
£
£
66
66
2,350
77,625
79,975
-540
79,501
79,501
79,501
79,501|2023
£
£
66
66
2,350
77,625
79,975
-540
79,501
79,501
79,501
79,501|
|---|---|---|
||||
|||79,501|
|||79,501|
|||79,501|
||||
Trustee
The Notes form part of these financial statements
-7-
## MIFAL TOV VACHESED
NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 March 2024
## 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 2024.
## Trustees Expenses
There were no trustees expenses paid for the year ended 31March 2024.
-8-
## **MIFAL TOV VACHESED**
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024
## **INCOMING RESOURCES**
|**Incoming resources from generated funds**
3
Grants and donations
**Total incoming resources**
4
**RESOURCES EXPENDED**
Fundraising Costs
**Services running Cost**
Grants made
Activities
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
£
78,359
78,359
19,809
84,916
40,022
177
144,924
600
938
545
651
2,734
147,658
**-69,299**
-69,299
79,501
10,202|Total 2024
£
78,359
78,359
19,809
84,916
40,022
177
144,924
600
938
545
651
2,734
147,658
**-69,299**
-69,299
79,501
10,202|Total 2023
£
110,272|
|---|---|---|---|
||||110,272
13,778
56,251
0
16|
||||70,045
540
650
390
634|
||||2,214|
||||72,259
**38,013**
38,013
41,488|
||||79,501|
**-9-**
## MIFAL TOV VACHESED
## NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024
## 5 FIXED ASSETS
|5
FIXED ASSETS||||
|---|---|---|---|
|COST:
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION:
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUE:
At 31 March 2024
At 31 March 2023
6
DEBTORS
Other debtors
7
CREDITORS
DUE WITHIN ONE YEAR
Accruals
8
FUNDS
Unrestricted funds
General fund
TOTAL FUNDS|At 1.04.23
£
79,501|Fixture and
fittings
£
312
820
1,132|Totals
£
312
820|
||||1,132|
|||246
177
423
709|246
177|
||||423
709|
|||66|66|
|||2024
£
0
0
2024
£
600
600
Net movement
in funds
£
-69,299
-69,299|2023
£
2,350|
||||2,350|
||||2023
£
540|
||||540|
||||At 31.03.24
£
10,202|
||79,501||10,202|
Net movement in funds, included in the above are as follows:
|Unrestricted funds
General fund
TOTAL FUNDS|Incoming
Rescources
resources
expended
£
£
78,359
147,658
78,359
147,658|Movement in
funds
£
-69,299|
|---|---|---|
|||-69,299|
-10-