MASIM TOVIM
CHARITY INCORPORATED ORGANISATION (“CIO”)
CHARITY REGISTRATION NUMBER 1154439
TRUSTEES’ REPORT
- and -
UNAUDITED ACCOUNTS
FROM 1 FEBRUARY 2024
TO
31 JANUARY 2025
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
| Contents | Page |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees’ Annual Report | 2 - 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Unaudited Accounts | 8 - 11 |
Page 1
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
REFERENCE AND ADMINISTRATIVE DETAILS
TRUSTEES
P. Wanevitch Mrs. C. Wanevitch Mrs. L. Makovetsky
CHARITY’S PRINCIPAL ADDRESS AND CONTACT
P. Wanevitch 22 Heathland Road London N16 5NH
DETAILS OF FORMATION
The CIO was formed by Constitution dated 17 October 2013 and was registered with the Charity Commission on 1 November 2013 under Charity Registration Number 1154439
BANKERS
Barclays Bank plc
INDEPENDENT EXAMINER
Stephen Sacks FCA for Shears & Partners Limited Chartered Accountants 7 Craven Park Court Craven Park Road London N15 6AA
Page 2
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
TRUSTEES’ ANNUAL REPORT
The Trustees present their Annual Report of the Charitable Incorporated Organisation (“the CIO”) along with the Unaudited Accounts of the CIO (“the Accounts”) for the year from 1 February 2024 to 31 January 2025. The Accounts have been prepared in accordance with the Accounting Policies set out on Pages 8 and 9 and comply with the Constitution of the CIO (“the Constitution”) and applicable law.
OBJECTIVES AND ACTIVITIES
The objects of the CIO are as follows:
-
The advancement of the Orthodox Jewish religion, Orthodox Jewish education and education in general.
-
The relief of poverty, sickness and infirmity for the public benefit.
-
Such other purposes as are Charitable according to English Law as the Trustees may from time to time in their absolute discretion determine.
-
Nothing in the Constitution shall authorise an application of the property of the CIO for purposes which are not charitable.
Grant Making Policy
To act according to the Constitution which enables grants to be made from both income and capital. All applications to the CIO for grants, donations or loans are considered carefully by the Trustees at regular meetings. On most occasions, if the Trustees feel that the application meets their approval in principle, they will meet the applicants face to face and discuss with them the most effective way of providing assistance. The Trustees usually then have a further meeting before making a decision as to whether assistance should be granted, and if so, in what form and to what level.
The Trustees find that, in most cases, this is the most effective way of aiding Charitable Institutions and Beneficiaries as it allows the Trustees a degree of flexibility in terms of deciding whether they will assist by way of a Donation or a Charitable Loan and also ensures that each application to the CIO is considered fairly.
Charities and Public Benefit
The Trustees have considered the Charity Commission’s general guidance on public benefit and are satisfied that the CIO complies with that guidance.
Page 3
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
TRUSTEES’ ANNUAL REPORT (Continued)
ACHIEVEMENTS AND PERFORMANCE
The Trustees support has been substantially to other UK Registered Charities who themselves support Institutions caring for the poor and sick, who qualify as Charitable Beneficiaries under English Law because they are UK Registered Charities.
The CIO also supported institutions in Israel who the Trustees were satisfied qualified as Charitable Beneficiaries in accordance with English Law.
During the current year, the Trustees are delighted to announce that the CIO made donations of £213,232 in the year ended 31 January 2025 (2024: £305,340) to Charitable Beneficiaries and Institutions that support such Beneficiaries.
Monies are raised by way of Charitable Donations received from other Charitable Trusts, Corporate Donors and Individuals.
FINANCIAL REVIEW
Review of the Charity’s Financial Position
The Charity’s Incoming Resources amounted to some £221k ( 2024: £286k ). Resources Expended amounted to some £217k ( 2024: £313k ) and hence there was a surplus/(deficit) for the year of some £4k ( 2024: Deficit £(27k) ). The Charity’s Funds increased/(decreased) by the same amount ( 2024: increased/(decreased) by the same amount).
Reserves Policy
The CIO does not normally retain cash, however, at the Balance Sheet date it had £9k ( 2024: £6k) in the bank together with Other Debtors less Creditors of £(143) (2024: £(1,269) .
Going Concern
The Trustees have prepared the Accounts on a going concern basis because in their opinion it is appropriate to presume that the Charity will continue in operation.
Investments Policy
The CIO owns Current and Savings Bank Accounts on which interest is earned but no interest was receivable in this accounting period.
Page 4
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
TRUSTEES’ ANNUAL REPORT (Continued)
Risk Management
The Trustees regularly undertake a review of the major risks to which the Charity is exposed, and systems designed to mitigate those risks are considered on an ongoing basis.
There is one key risk which the Trustees have currently identified. The risk is a fall in donations received. This is largely beyond the control of the Trustees as the level of donations is very much dependent on the generosity and financial situation of donors.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The CIO is governed by its Constitution dated 17 October 2013 and was registered with the Charity Commission on 1 November 2013 under Charity Registration Number 1154439.
The Trustees in office in the year were as follows:
P. Wanevitch Mrs. C. Wanevitch Mrs. L. Makovetsky
The power of appointing new Trustees or a new Trustee thereof shall be exercisable by the persons who are, for the time being, the Trustees hereof.
Reference and Administrative Details are set out on Page 1 and form part of this report.
The Trustees declare that they have approved the Trustees’ Report above.
Signed on behalf of the CIO’s Trustees.
P. WANEVITCH
Trustee
Date: 25 November 2025
Page 5
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF
MASIM TOVIM (“the CIO”)
ON THE UNAUDITED ACCOUNTS
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
FOR THE YEAR 1 FEBRUARY 2024 TO 31 JANUARY 2025
I report to the Trustees of Masim Tovim, a Charity Incorporated Organisation (“the CIO”), on my examination of the Unaudited Accounts (“the Accounts”) of the CIO for the year ended 31 January 2025.
Responsibilities and Basis of Report
As the Trustees of the CIO, you are responsible for the preparation of the Accounts in accordance with the Charities Act 2011 (“the 2011 Act”).
Having satisfied myself that the Accounts of the CIO are not required to be audited for this year under Section 144 of the 2011 Act and are eligible for Independent Examination, I report in respect of my examination of the Accounts of the CIO as carried out under Section 145 of the 2011 Act. In carrying out my examination, I have followed the all the applicable 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 material matters have come to my attention which gives me cause to believe that:
-
the accounting records were not kept in accordance with Section 130 of the 2011 Act; or
-
the Accounts did not accord with the accounting records; or
-
the Accounts did 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;
-
the Accounts have not been prepared in accordance with the Charities SORP (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.
Stephen Sacks FCA
For SHEARS & PARTNERS LIMITED Chartered Accountants
7 Craven Park Court Craven Park Road London N15 6AA
Date: 25 November 2025
Page 6
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
STATEMENT OF FINANCIAL ACTIVITIES
FROM 1 FEBRUARY 2024 TO 31 JANUARY 2025
| Note | 2025 | 2024 | |
|---|---|---|---|
| £ | £ | ||
| INCOMING RESOURCES | |||
| INCOME AND ENDOWMENTS from: | |||
| Donations and Legacies | (4) | 220,514 | 286,236 |
| ______ | __ | ||
| Total | (10) | 220,514 | 286,236 |
| ______ | __ | ||
| RESOURCES EXPENDED | |||
| EXPENDITURE on: | |||
| RAISING FUNDS | (5) | (2,264) | (6,846) |
| CHARITABLE ACTIVITIES | (6) | (213,232) | (305,340) |
| OTHER | (7) | (1,020) | (1,020) |
| Total | (10) | (216,516) | (313,206) |
| ______ | __ | ||
| NET INCOME/(EXPENDITURE) BEFORE | |||
| INVESTMENT GAINS | 3,998 | (26,970) | |
| ____ | _ | ||
| NET INCOMING/(OUTGOING) RESOURCES | 3,998 | (26,970) | |
| Total Funds Brought Forward | (10) | 4,864 | 31,834 |
| Total Funds Carried Forward | (10) | £8,862 | £4,864 |
| ==== | ==== |
The Notes on Pages 8 to 11 form part of the Unaudited Accounts.
Page 7
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
BALANCE SHEET
AS AT 31 JANUARY 2025
| Note | 2025 | 2024 | |
|---|---|---|---|
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors | (8) | 937 | 711 |
| Cash at Bank and in Hand | 9,005 | 6,133 | |
| 9,942 | 6,844 | ||
| CREDITORS: Amounts falling due within one | |||
| year | (9) | (1,080) | (1,980) |
| NET CURRENT ASSETS/(LIABILITIES) | 8,862 | 4,864 | |
| ____ | ______ | ||
| TOTAL NET ASSETS/(LIABILITIES) | £8,862 | £4,864 | |
| ==== | ==== | ||
| FUNDS OF THE CIO | |||
| Unrestricted Funds | (10) | £8,862 | £4,864 |
| ==== | ==== |
The Accounts were approved on 25 November 2025 and signed by the Trustee below on behalf of all of the Trustees.
________ Trustee
P. WANEVITCH
The Notes on Pages 8 to 11 form part of the Unaudited Accounts.
Page 8
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
NOTES TO THE UNAUDITED ACCOUNTS – 31 JANUARY 2025
1. STATUTORY INFORMATION
Masim Tovim (“the Charity”) is a Charity Incorporated Organisation domiciled in England and Wales, Charity Registration Number 1154439. The Charity’s Contact and Address are P. Wanevitch, 22 Heathland Road, London, N16 5NH.
2. COMPLIANCE WITH ACCOUNTING STANDARDS
The Unaudited Accounts (“the Accounts”) have been prepared in accordance with the provisions of FRS 102 SORP and the Charities SORP Update Bulletin 2 issued on 5 October 2018.
There were no material departures from the above Accounting Standard.
3. ACCOUNTING POLICIES
- a. Basis of Accounting
The Accounts have been prepared in accordance with the historical cost convention and in accordance with:
-
The Charities Act 2011 (“the 2011 Act”)
-
The Financial Reporting Standard applicable in the UK FRS 102 (“FRS 102”)
-
The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK FRS 102 issued on 16 July 2014 the FRS 102 SORP (“the SORP”).
-
The Charities SORP (FRS 102) Update Bulletin 2 issued on 5 October 2018 (“the Charities SORP FRS 102”)
-
The Charities Act 2022 (“the 2022 Act”)
The Charity constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the ability of the Charity to continue as a going concern.
- b. Income
Grants and Donations
Grants and Donations accounted for in the Statement of Financial Activities (“SOFA”) when the CIO becomes entitled to the donation and any conditions for receipt are met.
- c. Expenditure and Liabilities/Grants Payable without Performance Conditions
Charitable Activities represents Grants and Donations payable and are charged in the year in which payment of funds is conveyed to the recipient.
d. Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the CIO to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Page 9
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
NOTES TO THE UNAUDITED ACCOUNTS – 31 JANUARY 2025 (Continued)
3. ACCOUNTING POLICIES (Continued)
e. Other
Other comprises Governance Costs which include the cost of the preparation and examination of the Accounts, and the cost of any legal advice to Trustees on Governance and Constitutional matters.
f. Assets
Debtors
Debtors (including loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the CIO. Subsequently they are measured at the cash or other consideration expected to be received.
g . Liabilities
Creditors
The CIO has Creditors which are measured at settlement amounts less any trade discounts.
ANALYSIS OF INCOMING RESOURCES
4. DONATIONS AND LEGACIES
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Charitable Foundations | 122,970 | 109,174 | |
| Corporate Donors | 62,498 | 148,971 | |
| Individuals | 35,046 | 28,091 | |
| £220,514 | £286,236 | ||
| ====== | ===== | ||
| ANALYSIS OF RESOURCES EXPENDED | |||
| 5. | RAISING FUNDS | ||
| Bank Charges and Interest | 864 | 972 | |
| Fundraising Event Costs | 381 | 4,550 | |
| Support Costs | 1,019 | 1,324 | |
| £2,264 | £6,846 | ||
| ==== | ==== |
Page 10
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
NOTES TO THE UNAUDITED ACCOUNTS – 31 JANUARY 2025 (Continued)
6. CHARITABLE ACTIVITIES
Analysis of Grants/Donations
| Education General Charitable Relief of Poverty Religious Organisations Welfare |
Year Ended 31 January 2025 | |
|---|---|---|
| Grants to Institutions Grants to Individuals Total £ £ £ 142,443 - 142,443 507 - 507 46,082 - 46,082 24,200 - 24,200 - - - £213,232 £ - £213,232 ====== == ====== |
Grants to particular Institutions that are material in the context of Grants to Institutions were made to the following Institutions for the following purposes:
| Total Number of | Total Amount of | ||
|---|---|---|---|
| Name of Institution | Purpose | Donations Paid | Donations Paid |
| £ | |||
| Mercaz Chasidei Buhush | Education | 14 | 114,146 |
| Grants immaterial to total Grants made to Institutions | 42 | 99,086 | |
| 56 | £213,232 | ||
| == | ====== |
| Education General Charitable Relief of Poverty Welfare |
Year Ended 31 January 2024 |
|---|---|
| Grants to Institutions Grants to Individuals Total £ £ £ 200,463 - 200,463 18 - 18 103,664 - 103,664 1,195 - 1,195 £305,340 £ - £305,340 ===== == ===== |
Grants to particular Institutions that are material in the context of Grants to Institutions were made to the following Institutions for the following purposes:
| Total Number of | Total Amount of | ||
|---|---|---|---|
| Name of Institution | Purpose | Donations Paid | Donations Paid |
| £ | |||
| Mercaz Chasidei Buhush | Education | 16 | 167,463 |
| 16 | 167,463 | ||
| Grants immaterial to total Grants made to Institutions | 23 | 137,877 | |
| 39 | £305,340 | ||
| == | ===== |
Page 11
MASIM TOVIM
Charity Incorporated Organisation (“CIO”) Charity Registration Number 1154439
NOTES TO THE UNAUDITED ACCOUNTS – 31 JANUARY 2025 (Continued)
7. OTHER
Governance Costs
| Governance Costs | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Independent Examiner’s fees for reporting on the Accounts | £1,020 | £1,020 |
| ==== | ==== |
The fees paid to the Independent Examiner excluding VAT and these amounted to £850 (2024: £850). There were no other fees payable to the Independent Examiner £Nil (2024: £Nil).
| 8. | DEBTORS | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Other Debtors | £937 | £711 | |
| === | === | ||
| 9. | CREDITORS:Amounts falling due within one year | ||
| Trade Creditors | - | - | |
| Other Creditors | - | - | |
| Accruals and Deferred Income | 1,080 | 1,980 | |
| £1,080 | £1,980 | ||
| ==== | ==== | ||
| 10. | UNRESTRICTED FUNDS | ||
| Statement of Financial Activities | |||
| £ | |||
| At 1 February 2024 | 4,864 | ||
| Incoming Resources | 220,514 | ||
| Resources Expended | (216,516) | ||
| At 31 January 2025 | £8,862 | ||
| ==== | |||
| 11. | TRUSTEES’ EXPENSES |
There were no expenses or remuneration paid to the Trustees in the current or previous accounting periods.
12. EMPLOYEES
The CIO had no employees in either the current or previous accounting periods.
13. RELATED PARTY TRANSACTIONS
There were no Related Party Transactions during the current or previous accounting periods.