2022-12-31-accounts

COMPANY REGISTRATION NUMBER: 07538692 CHARITY REGISTRATION NUMBER: 1141629

MBD Community Mikvah Limited Company Limited by Guarantee Unaudited Financial Statements 31 December 2022

CHARTWELL ACCOUNTANTS & BUSINESS CONSULTANTS LLP

Chartered Certified Accountants 47 Bury New Road Prestwich Manchester M25 9JY

MBD Community Mikvah Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2022

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	4
Statement of financial activities (including income and
expenditure account)	5
Statement of financial position	6
Notes to the financial statements	7

MBD Community Mikvah Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 December 2022

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.

Reference and administrative details

Registered charity name MBD Community Mikvah Limited Charity registration number 1141629 Company registration number 07538692 Principal office and registered Manchester Jewish Community Centre office Bury Old Road Manchester M7 4QY The trustees Rabbi H R Royde Rabbi A Steiner Independent examiner Meir Guttentag FCCA of Chartwell Accountants and Business Consultants LLP 47 Bury New Road Prestwich Manchester M25 9JY

Structure, governance and management

MBD Community Mikvah Limited was incorporated as a limited company on 22nd February 2011 with company number 07538692. It was registered with the Charities Commission on the 28th April 2011 governed by its Memorandum and Articles. The charity registration number is 1141629.

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 exposure to the major risks.

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MBD Community Mikvah Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2022

Objectives and activities

The principal object of the Charity is to advance the Orthodox Jewish faith by maintaining and supervising a suitable mikvah (ritual bath).

In setting objectives and planning for activities, the Trustees have given dye consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public guidance on the advancement of religion for the public benefit.

The charity's objects are specifically restricted to the following:

1. To advance the Jewish faith by maintaining and supervising a suitable mikvah (ritual baths) and associated facilities specifically but not exclusively for the benefit of the Manchester Jewish community;

2. To advance the Jewish religion by educating the public to appreciate the sanctity and unique quality of the marital relationship;

3. To promote and advance the Jewish religion.

The Charity has maintained and supervised the running of a mikvah during the period. This is the sole activity of the Charity.

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 planning future activities.

Achievements and performance

The mikvah was open for use throughout the year for between 2 and 5 hours per day depending on the time of the year.

Financial review

The Charity received income of £16,247 during the year and donations of £42,239. The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.

Reserves policy

The trustees have reviewed the reserves and future requirements of the charity. All future needs are considered together with any risks or contingencies that may exist. The trustees are confident that sufficient reserves will be generated to achieve the objectives of the charity.

Plans for future periods

There are no plans to change the current operating structure in the foreseeable future.

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MBD Community Mikvah Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2022

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 11 February 2024 and signed on behalf of the board of trustees by:

Rabbi H R Royde Trustee

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MBD Community Mikvah Limited

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of MBD Community Mikvah Limited

Year ended 31 December 2022

I report to the trustees on my examination of the financial statements of MBD Community Mikvah Limited ('the charity') for the year ended 31 December 2022.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Meir Guttentag FCCA of Chartwell Accountants and Business Consultants LLP Independent Examiner

47 Bury New Road Prestwich Manchester M25 9JY

11 February 2024

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MBD Community Mikvah Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 December 2022

		2022		2021
		Unrestricted
		fundsTotal funds		Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	5	42,239	42,239	34,291
Charitable activities	6	16,247	16,247	47,008
Investment income	7	20	20	–
		────────	────────	────────
Total income		58,506	58,506	81,299
		════════	════════	════════
Expenditure
Expenditure on charitable activities	8,9	85,842	85,842	102,343
		────────	────────	─────────
Total expenditure		85,842	85,842	102,343
		════════	════════	═════════
		────────	────────	─────────
Net expenditure and net movement in funds		(27,336)	(27,336)	(21,044)
		════════	════════	═════════
Reconciliation of funds
Total funds brought forward		(199,870)	(199,870)	(178,826)
		─────────	─────────	─────────
Total funds carried forward		(227,206)	(227,206)	(199,870)
		═════════	═════════	═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 12 form part of these financial statements.

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MBD Community Mikvah Limited

Company Limited by Guarantee

Statement of Financial Position

31 December 2022

		2022	2021
	Note	£	£
Current assets
Cash at bank and in hand		375	1,047
Creditors: amounts falling due within one year	14	227,581	200,917
		─────────	─────────
Net current liabilities		227,206	199,870
		─────────	─────────
Total assets less current liabilities		(227,206)	(199,870)
		═════════	═════════
Funds of the charity
Unrestricted funds		(227,206)	(199,870)
		─────────	─────────
Total charity funds	15	(227,206) ═════════	(199,870) ═════════

For the year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 11 February 2024, and are signed on behalf of the board by:

Rabbi H R Royde Trustee

The notes on pages 7 to 12 form part of these financial statements.

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MBD Community Mikvah Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Manchester Jewish Community Centre, Bury Old Road, Manchester, M7 4QY.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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MBD Community Mikvah Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2022

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

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MBD Community Mikvah Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2022

3. Accounting policies (continued)

Financial instruments (continued)

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The Company is limited by guarantee and does not have share capital. In the event of winding up, the members are liable to an amount not exceeding £10.

5. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Donations
Donations receivable	42,239	42,239	34,291	34,291
	════════	════════	════════	════════

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MBD Community Mikvah Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2022

6. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Income from Mikvah	16,247	16,247	46,694	46,694
Charity vouchers	–	–	314	314
	────────	────────	────────	────────
	16,247	16,247	47,008	47,008
	════════	════════	════════	════════

7. Investment income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Bank interest receivable type 1	20	20	–	–
	════	════	════	════
Expenditure on charitable activities	by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Management of the Mikvah	70,454	70,454	84,779	84,779
Support costs	15,388	15,388	17,564	17,564
	────────	────────	─────────	─────────
	85,842	85,842	102,343	102,343
	════════	════════	═════════	═════════

8. Expenditure on charitable activities by fund type

9. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly	Support costs	2022	2021
	£	£	£	£
Management of the Mikvah	70,454	15,388	85,842	102,343
	════════	════════	════════	═════════
Analysis of support costs
		Analysis of
		support costs	Total 2022	Total 2021
		£	£	£
Premises		15,055	15,055	15,619
Support costs - Sundry		333	333	1,945
		────────	────────	────────
		15,388	15,388	17,564
		════════	════════	════════

10. Analysis of support costs

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MBD Community Mikvah Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2022

11. Independent examination fees

	2022	2021
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	– ════	400 ════

12. Staff costs

The average head count of employees during the year was 2 (2021: 2). The average number of full-time equivalent employees during the year is analysed as follows:

	2022	2021
	No.	No.
Number of staff - charitable	2	2
	════	════

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

13. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

14. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	–	400
Social security and other taxes	–	225
Other creditors	227,581	200,292
	─────────	─────────
	227,581	200,917
	═════════	═════════

15. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
		At			At
	1	January 202		31	December
		2	Income	Expenditure	2022
		£	£	£	£
General funds		(199,870)	58,506	(85,842)	(227,206)
		═════════	════════	════════	═════════
		At			At
	1	January 202		31	December
		1	Income	Expenditure	2021
		£	£	£	£
General funds		(178,826)	81,299	(102,343)	(199,870)
		═════════	════════	═════════	═════════

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MBD Community Mikvah Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2022

16. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2022
	£	£
Current assets	376	376
Creditors less than 1 year	(227,582)	(227,582)
	─────────	─────────
Net liabilities	(227,206)	(227,206)
	═════════	═════════
	Unrestricted	Total Funds
	Funds	2021
	£	£
Current assets	1,047	1,047
Creditors less than 1 year	(200,917)	(200,917)
	─────────	─────────
Net liabilities	(199,870)	(199,870)
	═════════	═════════

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