**Charity registration number 1149611**
## **MI'KAMCHO CHARITABLE TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023**
## **MI'KAMCHO CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr A Bamberger Mr Y Greenberg Mr M Kahan **Charity number** 1149611 **Principal address** 6 Powis Gardens London NW11 8HH **Independent examiner** Weissbraun Emanuel 220 The Vale London NW11 8SR **Bankers** Lloyds Bank 8 Golders Green Road London NW11 8LJ
## **MI'KAMCHO CHARITABLE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 11|
## **MI'KAMCHO CHARITABLE TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
The trustees present their report and accounts for the year ended 31 October 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trustee deed, the Charities Act 2011 and "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)".
## **Objectives and activities**
The objectives of the Project, as established, continued unchanged, are:
1) To act a resource for young people and young adults by providing advice and assistance and organising programmes of physical, educational and other activities.
2) The promotion of any other exclusively charitable object and purposes such as the trustees see fit provided that they are regarded as charitable by the law of England and Wales.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## Grant Making Policy
The trustees have ultimate responsibility for all grant making decisions in line with the Charity's charitable purposes. The trustees consider all requests which they receive and make decision based on the level of funds availability.
## **Achievements and performance**
## **Financial review**
In the period under review, the Project made a surplus of £288 (2022: Deficit of £15,125).
## Reserve Policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## Investment policy
The trustees will invest any surplus funds as they see fit. Income arising from the investments will be used for charitable purpose.
## Risk factors introductions
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
Mi'Kamcho Charitable Trust is a legal registered charity (no.1149611) and constituted by Deed of Trust.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr A Bamberger Mr Y Greenberg Mr M Kahan
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## **MI'KAMCHO CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
Recruitment policy
The Charity recognizes that an effective board of trustees is essential if the charity is to be effective in achieving its objects. The board therefore always looking for the resentative of the people with whom the charity works and must have available to it all of the knowledge and skills required to run the charity. Currently, the charity believe that the current board of trustees has the necessary skills to run the Charitys' operations.
Trustees are legally responsible for the overall management control of the Charity. The day to day management of the Charity is delegated by the Trustee to Mr. Yaacov Greenberg and supported by all other trustees.
The trustees' report was approved by the Board of Trustees.
**Mr Y Greenberg** Trustee Dated: 15 July 2025
- 2 -
## **MI'KAMCHO CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF MI'KAMCHO CHARITABLE TRUST**
I report to the trustees on my examination of the financial statements of MI'KAMCHO CHARITABLE TRUST (the charity) for the year ended 31 October 2023.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all 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 financial statements in accordance with Accounting and Reporting by 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 now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with 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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
Michael Weissbraun, FCA **Weissbraun Emanuel**
220 The Vale London NW11 8SR
Dated: 15 July 2025
- 3 -
## **MI'KAMCHO CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2023**|**2022**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|44,075|35,231|
|Charitable activities|**4**|5,520|4,900|
|**Total income**||49,595|40,131|
|**Expenditure on:**||||
|Raising funds|**5**|19,134|14,321|
|Charitable activities|**6**|30,173|40,935|
|**Total expenditure**||49,307|55,256|
|**Net income/(expenditure) and movement in funds**||288|(15,125)|
|**Reconciliation of funds:**||||
|Fund balances at 1 November 2022||143|15,268|
|**Fund balances at 31 October 2023**||431|143|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **MI'KAMCHO CHARITABLE TRUST**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2023**_
|**2023**
**Notes**
**£**
**Current assets**
Cash at bank and in hand
2,890
**Creditors: amounts falling due within**
**one year**
**12**
(2,459)
**Net current assets**
**The funds of the charity**
Unrestricted funds
**13**|**2022**
**£**
**£**
1,797
(1,654)
431
431
431|**£**
143|
|---|---|---|
|||143|
|||143|
The financial statements were approved by the trustees on 15 July 2025
Mr Y Greenberg **Trustee**
- 5 -
## **MI'KAMCHO CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
## **Charity information**
MI'KAMCHO CHARITABLE TRUST is a legal entity signed by trust deed on 12 September 2011.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's trustees, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to that applicable expenditure headings.
- 6 -
## **MI'KAMCHO CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Financial assets classified as other financial assets are stated at fair value with any gains or losses arising on remeasurement recognised in profit or loss. The net gain or loss recognised in profit or loss includes any dividend or interest earned on the financial asset.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **1.7 Taxation**
The Charity is exempt from tax on its charitable activites.
## **1.8 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.9 Foreign exchange**
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 7 -
## **MI'KAMCHO CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **3 Donations and legacies**
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2023**|2022|
|||**£**|£|
||Donations and gifts|44,075|35,231|
|**4**|**Income from charitable activities**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**|**2022**|
|||**£**|**£**|
||Rental income|5,520|4,900|
|**5**|**Expenditure on raising funds**|||
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|**Fundraising and publicity**|||
|Staging fundraising events|10,044|7,061|
|Staff costs|9,090|7,260|
||19,134|14,321|
- 8 -
## **MI'KAMCHO CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **6 Expenditure on charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Activities**|**Activities**|
||**2023**|**2022**|
||**£**|**£**|
|**Direct costs**|||
|Charitable payments|7,556|15,418|
|Mentoring expenses|4,732|9,370|
||12,288|24,788|
|**Share of support and governance costs (see note 8)**|||
|Support|16,793|13,365|
|Governance|1,092|2,782|
||30,173|40,935|
|**Analysis by fund**|||
|Unrestricted funds|30,173|40,935|
## **7 Rental income**
Rental income
- 9 -
## **MI'KAMCHO CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **8 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Insurance
2,694
-
Printing, postage &
stationary
-
-
Telecommunications
1,219
-
Utilities
7,451
-
Bank charges
574
-
Rent
2,906
-
Travels
1,949
-
Accountancy
-
1,092
Bookkeeping and
secretarial services
-
-
Bank charges
-
-
Other wages
-
-
16,793
1,092
Analysed between
Charitable activities
16,793
1,092|**2023**Support costs Governance
costs
**£**
£
£
2,694
2,014
-
-
532
-
1,219
1,167
-
7,451
1,800
-
574
215
-
2,906
1,571
-
1,949
6,066
-
1,092
-
1,020
-
-
173
-
-
33
-
-
1,556
17,885
13,365
2,782
17,885
13,365
2,782|2022
£
2,014
532
1,167
1,800
215
1,571
6,066
1,020
173
33
1,556|
|---|---|---|
|||16,147|
|||16,147|
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
There were no trustees' expenses paid for the year ended 31 October 2023 nor 31 October 2022.
## **10 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
||1|1|
|**Employment costs**|**2023**|**2022**|
||**£**|**£**|
|Wages and salaries|9,090|7,260|
There were no employees whose annual remuneration was more than £60,000.
- 10 -
## **MI'KAMCHO CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **10 Employees**
## **(Continued)**
## **Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
## **11 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **12 Creditors: amounts falling due within one year**
|Other creditors
Accruals and deferred income|**2023**
**£**
(133)
2,592
2,459|**2022**
**£**
154
1,500|
|---|---|---|
|||1,654|
## **13 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1**|**Incoming**|**Resources**|**At 31 October**|
|---|---|---|---|---|
||**November**|**resources**|**expended**|**2023**|
||**2022**||||
||**£**|**£**|**£**|**£**|
|General funds|143|49,595|(49,307)|431|
|**Previous year:**|**At 1**|**Incoming**|**Resources**|**At 31 October**|
||**November**|**resources**|**expended**|**2022**|
||**2021**||||
||**£**|**£**|**£**|**£**|
|General funds|15,268|40,131|(55,256)|143|
## **14 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 11 -