Charity number: 1137199
MIZRACHI (UK) ISRAEL SUPPORT TRUST
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

MIZRACHI IUKI ISRAEL SUPPORT TRUST
CONTENTS
Page
Reference and Administrative Details of the Charity. its Trustees and Advisers
Trustees. Report
Independent Examiner's Report
10
statement of Financial Activities
Balanco Sheot
12
Statement of Cash Flows
13
Notes to the Flnanclal Ststements
14-29

MIZRACHI IUKI ISRAEL SUPPORT TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
D D Morris
S Blumgart
G Kurland
M Fruhman
S Melnick
M Bauernfreund
A Harris
J Silberstein lappointed 8 July 2024}
Charity registered
number
1137199
Registered address
2 Hallswelle Road
London
NW11 ODJ
Principal operating
office
44a Albert Road
London
NW4 2SJ
Chief executive officer
Rabbi A Shaw
Independent Examiner
lan Saunderson FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Page 1

MIZRACHI IUKI ISRAEL SUPPORT TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the financial statements of the Charity for the year to 31
December 2023.
Objectives and activities
a. Polieies and objectives
The objectives of the charity are to further promote the work of Mizrachi by working in schools, communities and
Campus to strengthen the Jewish community's connection to Modern Orthodoxy and a strong eonnection to the
Stale of Israel.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit." running a
charity IPB21'.
b. Strategies for achieving objeetives
Mizrachi UK primarily focuses on strengthening Jewish identity within the UK and providing SUPFX)rt to Israel in
areas of greatest need. Additionally, we periodically collaborate with other partners and communities, with
particular emphasis on the UK Jewish community-
c. Activities undertaken to achieve objeetives
Leadership Programming
Mizrachi UK is committed lo identifying, training, and deploying young British men and women to serve 8S the
next generation of Rabbis and female educators through the Mizrachi Rabbinic81 Fellowship Programme. This
initiative aims to equip p8rtiClP8nts with the skills and knowledge necessary to lead within the UK Jewish
community.
Community Engagement
We facilitate a diverse range of programming throughout the UK, which includes speaker tours, localized
cultural aclivilies, and unique productions. Our flagship events, such as the Weekend of Inspiration and Day of
Inspiration, are designed to foster engagement and conneetion within the community, providing enriching
experiences for all p8rtiClP8nts.
Yehudi
The Yehudi programme aims lo promote positive Jewish experiences that enhance the Jewish identity of youth
through peer-to-peer leadership. This initiative involves eonnecting young people with inspiring madriehim
during 8 variety of events and activities. Additionally, we focus on recruiting, training, and mentoring sixlh-form
and university students to become madrichim and mentors, thereby e￿aling pathways for leadership
opportunities within the Jewish educational sector.
d. Grant-making policies
The Mizrachi Rabbinical Fellowship Programme provides educational opportunities for young British men and
women through their studies in Israel. Applicants musl meet rigorous criteria to qualify for the programme.
Those who are SUC￿ssful and demonslrale a need for financial support are awarded grants to help cover their
living expenses while studying in Israel. These grants are provided with the understanding that recipients will
return lo the UK lo become the next generation of Rabbis and female educators.
Page 2

MIZRACHI IUKI ISRAEL SUPPORT TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Objectives and activities leontinuedl
e. Volunteers
In 2023, the Yehudi Year 6 progomme rectuited 85 Year 12 volunteers to setve 8S youth leaders Imadrichiml
for Year 6 parbcipants completing their primary eduealion. These volunteers provide programming for over 330
Year 6 students and are supported by 18 mentors and three senior leaders.
The previous Cohort of Year 12 volunteers transitioned to Year 13 and continued their volunteering involvement
with the programme, facilitating sessions for over 480 Year 7 students, with similar mentor and senior leader
SUPFX)rt structures in place.
The programming will extend through to Year 11, when it is expected that these students will re-enler the
Yehudi framework as madrichim when they reach Year 12. Similady, Year 12 madrichim will have opportunities
lo progress into mentorship roles, preparing them for future leadership positions within the community and
possible entry into the Mizrachi Fellowship Programme.
To enhance their training and leadership skills, the volunteers participated in training sessions and attended
regular meetings with their mentors.
The charity is guided by a board of seven ttustees Ilisled belowl, who provide oversight to the executive team in
making effective decisions, fulfilling the charity's mission, maintaining financial accountability, and ensuring
compliance with our goveming documents and legal reqU1￿MentS.
Trustees formally meet with the executive team approximately three to four times 8 year, along with inform81
discussions throughout the year.
Grant allocations are discussed at least monthly between these Trustees and the Executive Director.
f. Main activities undertaken to further the Charty's purposes for the public benefit
Leadership P[￿ramMIng
Mizrachi UK is committed lo identifying, training, and deploying young British men and women to serve 8S the
next generation of Rabbis and female educators through the Mizrachi Rabbinical Fellowship Programme. This
initiative aims to equip participants with the skills and knowledge necessary to lead within the Jewish
community-
Community Engagement
We facilitate a diverse range of programming throughout the UK, which includes speaker tours, localised
cultural aclivilies, and unique productions. Our flagship events, such as the Weekend of Inspiration and Day of
Inspiration, are designed to foster engagement and connection within the community, providing enriching
experiences for all p8rtiClP8nts.
Yehudi
The Yehudi programme aims lo promote positive Jewish experiences that enhance the Jewish identity of youth
through peer-to-peer leadership. This initiative involves eonnecting young people with inspiring madriehim
during 8 variety of events and activities. Additionally, we focus on recruiting, training, and mentoring sixlh-form
and university students to become madrichim, mentors, and members of the senior leadership team, thereby
creating pathways for leadership opportunities within the Jewish educational sector.
Page 3

MIZRACHI IUKI ISRAEL SUPPORT TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Aehievements and performance
a. Key performance indicators
Leadershi
Pro
ramme
Twelve graduate couples have successfully completed the Rabbinical Fellowship Programme since its
In￿ptIOn in September 2016.
Graduate couples have suc￿SsfUllY been recruited and employed by notable UK Jewish Synagogue and
Communal organisalions where they work tirelessly lo strengthen engagement within the community.
Mizrachi UK introduced the Alumni Programme in September 2023 to foster a supportive network among
Fellows, enhan￿ support for Current 8nd former Fellows 8nd to track the long-term impact of Fellows on
their communities
Al 31 December 2023 two participant couples are currently enrolled in the Fellowship programme.
One Shlichim couple lives and works in the Manchester community and are engaged in strengthening local
communities connection lo Israel.
Communi
En
ement
Mizrachi UK hosted a four-day event, Weekend of Inspiration and Day of Inspiration, from Thursday 16 to
Sunday 19 May 2024, featuring 33 scholars and educators from Israel.
11 included Shabbat programming in over 49 communities and a Day of Inspiration on Sunday, with keynote
addresses and workshops for hundreds of attendees partiClP8nts in London and Manchester communities
3,000 people have opted in lo receive the weekly emailed journal
Sludenl Bel Midrash Programming impacts between 50 10 90 secondary school and university students on
a weekly basis
The weekly Bet Midrash Programming effects 30 10 40 adults on a weekly basis
Our publications continue lo be produced and enjoyed.
The Hamizrachi magazine published for Chagim was made available online with over 25,000 printed copies
distributed lo over 40 communities across the UK.
Yehudi
85 Year 12 volunteers ￿truited madrichim to deliver content to over 330 Year 6 students, supported by 18
mentors and three senior leaders
60 Yar 13 volunteers facilitating sessions for over 460 Year 7 students, with similar mentor and senior
leader support structures in pla￿.
18 posl-gap year students were identified and appointed as mentors lo support the new cohort of Year 12
madrichim. Existing mentors remained in situ to support the Year 13 volunteers.
A mix of 80 youth leaders, mentors and senior leaders attended a successful weekend residential as part of
the volunteer onboarding process.
Page 4

MIZRACHI IUKI ISRAEL SUPPORT TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Aehievements and performance Icontinuedl
b. Review of activities
Mizrachi UK continues lo work with the community to strengthen Jewish identity and its support for Israel.
Through its work in schools, shuls and campuses across the country Mizrachi UK delivers ils three core
elements of Leadership Programming, Community Engagement and Yehudi.
Leadershi
Pro
ramme
The Mizrachi Rabbinical Fellowship Programme galvanises UK Jewish communities, schools and communal
organisations through Semicha and leadership education training of young British men and women through their
studies in Israel. 11 is expected that they return lo the UK as strong Rabbinical leaders and female educators lo
inspire and strengthen communal engagement.
Two graduate couples of the programme returned to the UK in 2023. They were SUC￿ssfUllY placed within the
community, bringing the total graduate couples working in the UK community lo ￿e1Ve.
We look forward to welcoming back to the UK further graduate couples in 2024.
Communi
En
emenl P
ramme
Mizrachi UK runs an array of community engagement programming across the UK. The programming includes
speaker tours featuring local and international educators, publications such as Hamizrachi and the Tzurba
HaRabbanim learning programme, as well as bespoke localised community cultural activities.
c. Factors relevant to achieve objectives
External Challenges..
Economic Un￿rtaInty and geopolitical conflict will impact on the charity's ability to function effectively. These
factors can influence community engagement and overall operational effectiveness as charitable giving by
supporters may be diverted elsewhere.
Programme Recruitment Difficulties..
Effective recruitment of Yehudi volunteers and Fellowship candidates is crucial for maintaining leadership
quality and ensuring programming delivery.
Importance of Core Work..
The strategic focus on core wort< (Leadership Programming, Community Engagement, and Yehudil may
need to be re-aligned with effective planning and resour￿ allocation.
The need for adequate staffing and infrastructure can impact our capacity lo support programme delivery
and volunteer management.
Community Collaboration..
The commitment lo continue working with schools, synagogues, and community organisations reflects the
importance of stskeholder engagement, which is vital for achieving objectives related to Jewish identity and
engagement.
d. Fundraising activities and income generation
The charity will continue to secure funding through existing donor re18tionships as well as bmnching out lo new
trusts and foundations. New donor relationships are actively being explored. Notwithstanding the cost of living
crisis, conflict in the Middle E8St and Ukraine, presenting a fundraising challenge, MErachi UK plans to run a
crowdfunding campaign in December 2024.
Page 5

MIZRACHI IUKI ISRAEL SUPPORT TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial review
a. Going coneem
After making appropriate enquiries the Trustees have 8 reasonable expectation that the Charity has adequate
resources to continue in operation81 existence for the foreseeable future following the support provided by the
Trustees. For this reason, they continue lo adopt the going concern basis in preparing the financial stalèmenls.
Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The reserves policy of the Charity requires a three month reserve. As of 31 December 2022 the reserves we
in 8 deficit. Therefore reliance on the charity being a going coneern has been placed on the support of the
Iruslees.
c. Financial position at the year end
During the year, the Charity received donations and other income of £ 897,38612022 - £ 739,9281. Expenditure
in the year lotalled £ 1,066,70012022 £ 1,107,916) leaving an in year deficit of £ 169,31412022 £1367,98811.
Reserves at the year end stood at a deficit of £ 337,26012022 - £ 167,9461. As detailed above, the trustees aim
lo improve the financial standing of the Charity-
Page 6

MIZRACHI IUKI ISRAEL SUPPORT TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
d. Principal risks and uncertainties
The events of October 7th, coupled with the unp￿eedented rise in antisemitism, are expected to have a
profound and18Sting impact on our community. Increased safely and security concerns regarding events and
activities may foster feelings of vulnembility and lead lo potenti81 withdrawal from community engagement and
the 8rr8y of programming offerings.
As antisemitism rises, community members may find themselves reassessing their Jewish identity. In response,
Mizrachi UK must be prepared to foster communal solidarity and provide additional programmes, events and
sources 10 address these challenges, thereby pulling further pressure on existing staffing and fi'nancial
sources. There is a concern that fundraising will be challenging as charitable giving will be diverted to
supported Israeli based charities instead of local Jewish charities.
The ongoing difficulties in recruiting high-caliber eandidales for the Mizr8chi R8bbinic81 Fellowship may impede
effective suecession planning, complicating our efforts lo p￿pare future leaders and maintain continuity within
the community. Attr8Cting lop-lier candidates often requires competitive grant packages, which may be
challenging for our charity in the current economic climate. A lack of qualified candidates can diminish the
quality of leadership, ultimately 8ffecting the effectiveness of our programmes and initiatives.
As we expand, the need for sufficient staffing and infrastructure to support Yehudi and its volunteers is
becoming increasingly essential. Additionally, il is imFlOrtanl to streamline volunteering opportunities to facilitate
easier connections and encoufftge ongoing commitment.
In this conlexl, the work Mizrachi UK does in ils three core areas-Leadership Programming, Community
Engagement, and Yehudi-has never been MO￿ essential, despite the dwindling resources available to deliver
these vital services.
Mizrachi UK will continue to collaborate with schools, synagogues, and community organisations to strengthen
Jewish engagement and identity. By ￿vitalIZIng grassroots leadership and identifying enterprising and talented
young individuals early on, we aim to cultlV8te a strong pool of passionate and committed future leaders and
educators.
e. Financial risk management objectives and polieies
The Trustees have examined the major strategic, business and opemtional risks which the charity fa￿S and
confi'rm that systems are in place to protect the charity's assets.
f. Principal funding
The charity is reliant on donations for the funding of the charity. These resources allow the charity lo continue its
significant plans to give grants to good causes throughout the community, run educational activities and soci81
events surrounding the Slate of Israel.
Structure, govemance and management
a. Constitution
The Charity is a ch8riL9ble trust formed under a trust deed dated 5th February 2010. 11 is registered with the
Charity Commission of Eng18nd and Wales, Charity Number 1137199.
Page 7

MIZRACHI IUKI ISRAEL SUPPORT TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure, govemance and management Icontinuedl
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed.
c. Organisational structure and deeision-making policies
The Trustees are involved with governance, major fundraising activities and donor relationships, senior staff
appointments, ad hoe matters esc81aled by the Chief Executive. Day to day running of the charity is delegated
lo the Chief Executive Officer.
Trustees".
The￿ are 8 Trustees
D Morris
S Blumgart
G Kurland
M Fruhman
S Melnick
M BaUernf￿Und
A Harris
J Silberstein lappointed 8 July 20241
d. Policies adopted for the induction and training of Trustees
All new Trustees ￿te1ve specialist tfftining to the role that they hold, provided by existing Trustees. New
Trustees are encouraged lo review the most recent financial statements to famili8rise themselves with the day
lo day running of the charity.
e. Pay policy for key management personnel
The pay awards are reviewed anually by the Trustees. Pay is normally considered in accordance with similar
roles in other comparable org8nisations.
f. Related party relationships
Mizrachi UK works closely with Mizrachi Worldwide. They facilitate the Rabbinical Fellowship Programme in
Israel and assist Mizrachi UK in supporting the delivery of sludenl trips lo Israel. There is a shared ethos but
they are separate entities.
Relationships with Bnei Akiva Worldwide and Bnei Akiva UK also exist with respect lo Mizrachi UK support of
their Shlchim Programme. There is a shared ethos bul they are separate entities.
g. Financial risk management
The Trustees have assessed the major slralegic, business, and operational risks which the charity faces and
confirm that systems are in pla￿ to protect the charity's assets. The Trustees believe that by ensuring controls
exist over key financial systems, and by examining the operational and business risks faced by the charity, they
have established effective systems to mitigate those risks.
Page 8

MIZRACHI IUKI ISRAEL SUPPORT TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Plans for future periods
Mizrachi UK is actively fundmising to support the 8re8s of Leadership Progmmming, Community Engagement
and to grow the Yehudi Programme.
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Gener811y Accepted
Accounting Praclicel.
The law applicable to ch8rilies in England & Wales requires the Trustees lo prepare financial statements for
each financial which give a true and fair view of the stale of affairs of the Charity and of its incoming resources
and application of resources, including its income and expenditure, for that period. In preparing these finanei81
statements, the Trustees are required to".
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021",
make judgments and accounting estimates that are reasonable and prudent",
stale whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject lo 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 adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Charity
and 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.
Approved by order of the members of the board of Trustees and signed on their behalf by..
J Silberstein
Trustee
Dale.. 3011012024
Page 9

MIZRACHI IUKI ISRAEL SUPPORT TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent Examinerfs Report to the Trustees of Mizrachi IUKI Israel Support Trust I'the
Charity'l
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31
December 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in 8ecord8nce with the
requirements of the Charities Act 2011 I'the 2011 ACVI.
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income exceeded £250,000 your examiner musl be 8 member of 8 body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member
of the Institute of Chartered Accounlanls in England and Wales., which is one of the listed bodies.
I have completed my examination. I confirm that no matters, other than those fully detailed below, have come lo
my allenlion in connection with the examination giving me reasonable cause lo believe that in any material
respect..
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act", or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements conceming the form and Content of
accounts set out in the Ch8rilies (Aceounls and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and f81¢ view which is not a matter considered as part of an independent
examinab'on.
I confirm that there are no other matters to which your attention should be drawn lo enable a proper
understanding of the accounts to be reached.
Disclosure Section
We draw allenlion lo the disclosures around going cOn￿M in the Iruslees, report and note 1.2 in the financial
slalements, which indicate that the funds of the charity do not cover the commilled expenditure for the first
months of 2024. These events or conditions indicate that the charity is reliant on the support of the trustees in
order lo remain a going concern.
This report is made solely to the Charity's Trustees, as a body, in aecordance with Part 4 of the Charities
IAecounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the Charity's
Trustees those matters l am required to slate to them in an Independent Examiner's Report and for no other
purpose. To the fullest exlenl permitted by 18w, I do not accept or assume rèsponsibility to anyone other than
the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
/A*> SAwzJ&rM*&
Dated.. 3011012024
lan Saunderson FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Page 10

MIZRACHI IUKI ISRAEL SUPPORT TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Charitable activities
601.441
277.121
18,824
620.265
277.121
578.344
761,584
Total income
878,562
18,824
897,386
739,928
Expenditure on:
Charitable activities
1,057.903
8.797
1,066.700
1,107,916
Total expendlture
1,057.903
8.797
1,066.700
1,107,916
Net movement in funds
1179.3411
10.027
1169.3141
(367,988)
Reconciliation of funds..
Total funds brought forward
Nel movement in funds
(198.013)
1179,3411
30.067
10.027
(167.946)
1169,3141
200,042
(367,988)
Total funds carrigd forward
1377.3541
40.094
1337.2601
(167,946J
The Ststemenl of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 14 to 29 form part of these financial statements.
Page11

MIZRACHI IUKI ISRAEL SUPPORT TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Tangible assets
10
2,727
2,047
2,727
2.047
Current assets
Debtors
Cash al bank and in hand
11
15,029
10.259
3,054
72, 792
25.288
T5,846
Creditors." amounts falling due within one
year
12
1350,4701
(220, 893)
Net current liabilities
1325,182)
(145.047)
Total assets less current liabilities
1322.455}
(143,000)
Creditors." amounts falling due after more
than one year
13
{14,805}
124,946)
Total net assets
1337,260)
(167.946)
Charity funds
Reslricled funds
Unrestricted funds
14
40,094
1377.354}
30,067
(198,013)
14
Totsl funds
1337.260}
(167.946)
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
J Silberstein
Trustee
Dale. 3011012024
The notes on pages 14 to 29 form part of these fin8nci81 statements.
Page 12

MIZRACHI IUKI ISRAEL SUPPORT TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Cash flows from operatlng actlvltles
Nel cash used in operating activities
1100,3971
(121.091)
Purchase of tangible fixed assets
Cash flows from financing activities
Cash inflows from new borrowing
Repayments of borrowing
other non-cash movements
12,2461
50,000
19,8901
100,000
(89.646)
(19,479)
Net cash provlded byllused Inl flnanclng actlvltles
40,110
{9.1251
Change in eash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
162,5331 1130,2161
72,792
203.008
Cash and cash equlvalents at the end ofthe year
10,259
72, 792
The notes on pages 14 to 29 form part of these financial statements
Page 13

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
1.1 Basis of preparation of financial ststements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
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 IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Mizrachi IUKI Israel Support Trust meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are Initially recognised al historical cost or transaction value unless otherwise
stated in the relevant accounting policy.
1.2 Going concern
Al the balance sheet date of the charity, ils nel funds did not cover ils committed expenditure for the
first 3 months of 2024. However, the Trustees have prepared the accounts on a going concern
basis, due to a commitment from the Trustees to support the charity.
As such, the trLJStees consider that the charity is able to continue ils activities for a period of at least
twelve months from the date of signature of these accounts and the accounts have therefore been
prepared on a going concem basis.
1.3 Income
All income is recognised once the Charity has entillemenl lo the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations reTrived under Gift ikn'd or deeds of covenant is
recognised at the lime of the donation.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic
benefit lo a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. ExpenditLJre is classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs inVo￿ed in undertaking each activity. Direct costs attributable lo a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned between those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of lime spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable aclivib.es is incurred on direcUy undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer Is made except in those cases where the
offer is conditional, such grants being recognised as expenditure when the conditions allaching are
fulfilled. Grants offered subject to conditions which have not been met al the year end are noted as a
commitment, bul not accrued as expenditure.
Page 14

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinuedl
1.4 Expenditure {continued)
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charity,. this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capilalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model,
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into ils intended working
condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their eslimaled useful lives,
Depreciation is provided on the following bases..
Fixtures and fittings
Computer equipment
33D/o straight line
33Q/o straight line
1.7 Debtors
Trade and other debtors are recognised at the selllemenl amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the dale of acquisition or opening of the deposit or similar
account.
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet dale as a result of a past
event, il is probable that a transfer of economic benefit will be required in selllemenl, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised al the amount that the Charity anlicipales il will pay to sellle the debt or the
amount il has received as advanced payments for the goods or services it musl provide.
Provisions are measured al the best estimate of the amounts required to sellle the obligation. Where
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted al the pre-tax discount rale that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Page 15

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinuedl
1.10 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Restricted fvnds are funds which are lo be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes lo the financial statements.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Donations
Grants
590,941
10,500
590.941
29.324
18,824
601,441
18,824
620.265
Unrestricted
funds
2022
Restrictgd
funds
2022
Total
funds
2022
Donations
Grants
519,589
25.000
519,589
58. 755
33, 155
544,589
33, 755
578,344
Page 16

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from charitable activities
Unrestricted
funds
2023
Total
funds
2023
Events
Teaching
Educational Programme
Book sales
Magazine income
177,427
96,950
1,744
1,000
177,427
96.950
1.744
1.000
Total 2023
277,121
277.121
Unrestrictgd
funds
2022
Total
funds
2022
Income from charitsble activities - Events
Events
Educational programs
Book sales
Magazine income
500
10,418
86,547
1, 064
3, 055
5QO
70.418
86,547
1.064
3,055
Total 2022
161,584
161,584
Analysls of grants
Grants to
Individuals
2023
Total
funds
2023
Israel scholarships
110,153
110,153
Page 17

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of grants Icontinuedl
GTrnts lo
Individuals
2022
Total
funds
2022
Israel scholarships
128, 603
128,603
Analysis of gxpenditure on charitable activitios
Unrestrictod Restricted
funds
funds
2023
2023
Total
2023
Support costs
Direct costs
202,714
745,036
110,153
202.714
753,833
110,153
8,797
Grants
1,057,903
8,797
1,066.700
Unrestricted
funds
2022
Restricted
funds
2022
Tol81
2022
Support costs
Direct costs
Grants
315.619
650.269
128,603
315.619
663.694
128,603
13,425
1.094.491
13,425
1, 107.916
Page 18

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure on charitable activities Icontinuedl
Summary by expenditure type
Staff costs Depreciation Other costs
2023
2023
2023
Total
2023
Events
Teaching
Mizrachi Fellowship Programme Expenses
48,009
340,374
1,566
153,139
413,459
110,153
202.714
753,833
110.153
388,383
1,566
676,751
1,066.700
Staff costs Depreciation
2022
2022
Other wsts
2022
Total
2022
Events
Teaching
Mizrachi Fellowship Programme Expenses
76.013
338,694
1, 796
237,810
325, 000
128, 603
315,619
663.694
128,603
414.707
1. 796
691,413
1, 107,916
Analysls of expendlture by actlvltles
Activities
undertaken
directty
2023
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Events
202,714
202,714
753.833
110.153
Teaching
Mizrachi Fellowship Programme Expenses
753,833
110,153
753,833
110,153
202,714
1,066,700
Page 19

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities Icontinuedl
Activities
undertaken
directly
2022
Grant
funding ol
activities
2022
Support
costs
2022
Total
funds
2022
Events
Teaching
Mizrachi Fellowship Programme Expenses
315, 619
315,619
663,694
128.603
663,694
128,603
663,694
128,603
315, 619
1, 107,916
Anatysis of direct costs
Advancing
ot Jewish
Religion
2023
Total
funds
2023
staff costs
340,374
34,020
332,876
46,563
340.374
34.020
332,876
46,563
Educational programme
Events
Magazine expenses
753,833
753.833
AdvancNng of
Jewish
Religion
2022
Total
funds
2022
Stsff costs
Educational programme
Guest speakers and trips
Magazine Èxpenses
338,694
16,259
262,482
46,259
338,694
16,259
262,482
46,259
663.694
663,694
Page 20

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities Icontinuedl
Analysis of support costs
Advancing
of Jewish
Religion
2023
Total
funds
2023
Staff costs
Depreciation
Rent
IT Costs
Phone charges
Bank charges
General expenses
Literature, publishing and printing
Travel
48,009
1,566
20,205
16,424
4,078
250
48,009
1,566
20,205
16.424
4,078
250
43,671
79
4,243
7,384
48,939
43,671
79
4,243
7,384
48,939
Accounting fees
Shaliach expenses
Loan interest
li
253
253
Postage
Advertising
Stsff training
1,478
3,906
2,229
1,478
3,906
2,229
202,714
202,714
Page 21

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities Icontinuedl
Analysis of support costs Icontinuedl
Advancing of
Jewish
Religion
2022
Total
funds
2022
Staff costs
Depreciab'on
Rent
IT Costs
Phone charges
Bank charges
General expenses
76.013
1, 796
18.720
11,362
2, 726
311
76,013
7,796
18,720
11,362
2, 726
311
40.699
40,699
k- li
Literature publishing and printing
Travel
Accounting fees
Shaliach expenses
Loan interest
118
2,677
6,182
126.873
1,002
20,813
307
118
2,677
6,182
126,873
1,002
20,813
307
Bad debt
Postage
Advertising
Legal expenses
Motor vehicle expenses
Staff training
2.122
1, 715
479
1, 704
2,122
1,715
479
1,704
315,619
315,619
Independent examinerfs remuneration
2023
2022
Fees payable lo the Charity's independent examiner for the independent
examination of the Charity's annual accounts
Fees payable to the Charity's independent examiner in respect of".
All other servi￿$ not included above
3,970
3,434
1,872
1.060
Page 22

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
staff costs
2023
2022
Wages and salaries
Social security costs
Contribution lo defined contribution pension schemes
327,056
13,318
48,009
338.486
23.625
52,596
388,383
414,707
The average number of persons employed by the Charity during the year was as follows..
2023
No.
2022
No.
Employees
14
27
The number of employees whose employee benefits {excluding employer pension costs) exceeded
£60,000 was..
2023
No.
2022
No.
From £140,001 10 £150,000
The lolal amount of employee remuneration benefits received by key management personnel was
£190,91312022. £192,689).
Trustees. remuneration and expensos
During the year, no Trustees re￿iVed any remuneration or other benefits (2022- £NIL).
During the year ended 31 December 2023, no Trustee expenses have been incurred (2022- £NILJ.
Page 23

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Tangible fixed assets
Fixtures and
fittings
Computer
equipment
Total
Cost or valuatlon
At 1 January 2023
Additions
10,211
2,026
10,211
2,246
220
At 31 December 2023
220
12,237
12,457
Depreciation
At 1 January 2023
Charge for the year
8,164
1,493
8,164
1,566
73
At 31 December 2023
73
9,657
9,730
Net book value
At 31 December 2023
147
2,580
2,727
At 31 De￿￿tser 2022
2,047
2,047
11. Debtors
2023
2022
Due within ong ygar
Trade debtors
12,034
2,995
465
Other debtors
2,589
15,029
3,054
Page 24

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Creditors: Amounts falling due within one year
2023
2022
Bank loans
other loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
10,142
150,000
121,152
53,161
3,662
12,353
9.891
100.000
41,031
41,652
4.077
24.242
350,470
220,893
13.
Creditors: Amounts falling due after more than one year
2023
2022
Bank loans
14,805
24,946
Page 25

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
14. Statement of funds
statement of funds - current year
Balance at
31
December
2023
Balance at 1
January
2023
Income Expenditure
Unrestricted funds
General funds
1198.013)
878.562 11.057.903)
(377.354)
Restrlcted funds
Chidon Hatsnach
Mizrachi Fellowship Programme
3.307
26.760
6,324
12.500
18.7971
834
39.260
30,067
18,824
18,7971
40,094
Total of funds
1167.946)
897,386 11,066,700)
1337.2601
Chidon Halanach.. The aim of Chidon HaTanach is to promote and celebrate Tanach study amongst
Jewish youth lo both deepen Torah knowledge and strengthen Jewish identity.
Yeshiva & Seminary fundraising campaign.. The aim of the fundraising campaign was to assist Yeshivol
and Seminaries in Israel offset the increased infrastructure costs associated with operating their
programs during the pandemic. These are the educational establishments where our Fellows study.
The Mizrachi Fellowship Programmes creates the next generation of Modern Orthodox Religious Zionist
Rabbis and Educators. They are funded through three lo five years of study in Israel to obtain the
necessary qualifications with the expectation they return lo the UK live and work in our communities,
partner organisalions and schools.
Page 26

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
14. Statement of funds (continued)
statement of funds - prior year
Balance at
31
December
2022
Balance al
1 January
2022
Incon7e Expenditure
Unrestricted funds
General Funds - all funds
190,305
706, 173
(1,094,491)
(198,013)
Restrlcted funds
Chidon Hatsnach
Mizrachi Fellowship Programme
697
9,040
16,035
17,720
f13,425)
3.307
26, 760
9,737
33, 755
(13,425)
30,067
Total of funds
200.042
739,928 fl, 107,916)
(167.946)
15.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
2,727
114,8061
1350,4701
114,8051
2.727
25.288
1350,4701
114.8051
40,094
Totsl
1377,3541
40,094
{337.2601
Page 27

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
15. Analysis of net assets between funds {continuedl
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
Reslricled
funds
2022
Total
funds
2022
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
2.047
45,779
(220.893)
{24,946J
2.047
30,067
75,846
(220,893)
(24.946)
Total
(198,013)
30,067
(167,946)
16.
Re¢on¢iliation of net movement in fvnds to net cash flow from operating activities
2023
2022
Nel expenditure for the year las per Slalement of Financial Aclivitiesl
1169,3141
(367,988)
Adjustments for:
Depreciation charges
Decreasellincreasel in debtors
Increase in creditors
1,566
(11,9751
79,326
143, 796
59,969
Net cash used in operating activities
1100,3971
(164.223)
17.
Analysis of cash and cash equivalents
2023
2022
Cash in h8nd
10,259
72, 792
Total cash and cash equivalents
10,259
72. 792
Page 28

MIZRACHI IUKI ISRAEL SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
18. Analysis of changes in net debt
At1
January
2023 Cash flows
At31
December
2023
Cash al bank and in hand
Debt due within 1 year
Debt due after 1 year
72,792
1109.8911
{24,9461
162.5331
150.2511
10,141
10.259
(160.1421
114,8051
{62.0451
{102,6431
1164.6881
19. Related party transactions
Included in other creditors is a balance of £Nil 12022.. £5051 owed to Rabbi Andrew Shaw, the Chief
Executive Officer.
During the year, donations tolalling £272,504 12022.. £368,000) were received from the trustees and
companies owned by the trustees.
Included in other loans is a balance of £150,00012022.' £100,000) owed to a Iruslee.
Page 29