Charity number: 1145744
MISHKAN ME'AT
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
MISHKAN ME'AT
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 3 |
| Independent Examiner's Report | 4 - 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 11 |
MISHKAN ME'AT
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021
Trustees
Dr Rosa Anne Freedman Seth Freedman Andrew Marc Davis
Charity registered number 1145744 Principal office 38 Chandos Road Borehamwood WD6 1UY Accountants Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS
Page 1
MISHKAN ME'AT
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their annual report together with the financial statements of the Mishkan Me'at for the year 1 January 2021 to 31 December 2021.
Objectives and activities
a. Policies and objectives
The Trustees continue to advance the Jewish religion by using donations to purchase religious artefacts and make these available for Jewish religious services, prayer and religious instruction.
The trustees confirm that they referred to the guidance contained in the Charity Commission's general guidance on public benefit by reviewing the charity's aims and objectives and in planning future activities.
Achievements and performance
a. Main achievements of the Charity
During 2021 the Trustees received a substantial donation which enabled them to purchase a new Torah Scroll and the appropriate accessories. Delivery was taken in 2022. The scroll has been on loan to a Synagogue in Hertfordshire for some months, and has been used for ad hoc services in Bedfordshire.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
a. Constitution
Mishkan Me'at is a registered charity, number 1145744, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The Trustees who served during the year were:
Dr Rosa Anne Freedman Seth Freedman Andrew Marc Davis
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Under the Trust deed, Trustees must be appointed by a resolution of the Trustees passed at a special meeting.
In selecting individuals for appointment as Trustees, the Trustees consider the skills, knowledge and experience needed for the effective administration of the Charity. This enables the Trustees to fulfill their role in line with the Charities Act 2011.
Page 2
MISHKAN ME'AT
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Structure, governance and management (continued)
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
The Trustees are not planning any further substantial purposes in the immediate future.
The Trustees will continue to loan Torah Scrolls and other artifacts to Jewish religious groups who need them for services and ceremonies, and for prayer study and praise. They will also go on permitting the use of trust property for religious instruction and supervision.
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 (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & 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 its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) 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 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 at any time 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 on 26 October 2022 and signed on their behalf by:
Dr Rosa Anne Freedman
Page 3
MISHKAN ME'AT
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
Independent Examiner's Report to the Trustees of Mishkan Me'at ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2021.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
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 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 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 concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Page 4
MISHKAN ME'AT
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Signed:
Isabella Segal
Dated: 26 October 2022
FCA
124 Finchley Road London NW3 5JS
Page 5
MISHKAN ME'AT
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Note Income from: Charitable activities 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2021 £ 30,000 30,000 30,000 30,000 - - - - |
Unrestricted funds 2021 £ - - 88 88 (88) 355 (88) 267 |
Total funds 2021 £ 30,000 30,000 30,088 30,088 (88) 355 (88) 267 |
Total funds 2020 £ - - 60 60 (60) 415 (60) 355 |
|---|---|---|---|---|
The notes on pages 8 to 11 form part of these financial statements.
Page 6
MISHKAN ME'AT
BALANCE SHEET AS AT 31 DECEMBER 2021
| Note Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 7 Unrestricted funds 7 Total funds |
267 267 |
2021 £ 267 267 267 - 267 267 |
355 355 |
2020 £ 355 |
|---|---|---|---|---|
| 355 | ||||
| 355 | ||||
| - 355 |
||||
| 355 |
The financial statements were approved and authorised for issue by the Trustees on 26 October 2022 and signed on their behalf by:
Dr Rosa Anne Freedman
The notes on pages 8 to 11 form part of these financial statements.
Page 7
MISHKAN ME'AT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. General information
Mishkan Me'at is a Charity registered in England and Wales. The address of its registered office is 38 Chandos Road, Borehamwood, WD6 1UY.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Mishkan Me'at meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The trustees have reviewed the circumstances of the charity and consider that adequate resources will continue to be available both to fund the future activities of the charity and to service debt incurred for the foreseeable future. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.4 Expenditure
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 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 date of acquisition or opening of the deposit or similar account.
2.6 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 8
MISHKAN ME'AT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
2. Accounting policies (continued)
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to 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 to the financial statements.
3. Income from charitable activities
| Restricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| £ | £ | £ | |
| Donations | 30,000 | 30,000 | - |
4. Analysis of expenditure on charitable activities
Summary by fund type
| Direct costs Direct costs |
Restricted funds 2021 £ 30,000 |
Unrestricted funds 2021 £ 88 Unrestricted funds 2020 £ 60 |
Total funds 2021 £ 30,088 |
|---|---|---|---|
| Total funds 2020 £ 60 |
Page 9
MISHKAN ME'AT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
5. Analysis of expenditure by activities
| Direct costs Direct costs Analysis of direct costs Sefer Torah Scroll |
Activities undertaken directly 2021 £ 30,000 Activities 2021 £ 30,000 |
Support costs 2021 £ 88 Support costs 2020 £ 60 Total funds 2021 £ 30,000 |
Total funds 2021 £ 30,088 |
|---|---|---|---|
| Total funds 2020 £ 60 |
|||
| Total funds 2020 £ - |
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 December 2021, no Trustee expenses have been incurred.
Page 10
MISHKAN ME'AT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
7. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds Restricted Funds - all funds Total of funds |
Balance at 1 January 2021 £ 355 - 355 |
Income £ - 30,000 30,000 |
Expenditure £ (88) (30,000) (30,088) |
Balance at 31 December 2021 £ 267 |
|---|---|---|---|---|
| - | ||||
| 267 |
During 2021 the Trustees received a substantial donation which enabled them to purchase a new Torah Scroll and the appropriate accessories.
8. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Total |
Unrestricted funds 2021 £ 267 267 |
Total funds 2021 £ 267 |
|---|---|---|
| 267 |
Page 11