REGISTERED CHARITY NUMBER: 1154995
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Statement of Cash Flows | 6 | ||
| Notes to the Statement of Cash Flows | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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
Objectives and aims
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.
Significant activities
The charity collected donations totalling £950,514 [2023 - £781,769] to achieve it's charitable objectives.
The charity made donations totalling £963,356 [2023 - £632,143] to needy individuals and charitable institutions.
Public benefit
The Trustees have taken due heed of their obligations relating to Public Benefit Duty affecting charities, as well as to their obligations under the Equalities Act 2010. The Trustees are satisfied that they meet their obligations.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the company.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The main activities undertaken by the charity to further its purpose of public benefit are as below:
-
The charity provides grants and donations to needy individuals.
-
The charity provides charitable donations to organisations whose mission, vision and objective closely aligns with that of itself.
FINANCIAL REVIEW
Reserves policy
The charity aims to hold reserves equal to three months working capital requirement.
Going concern
The trustees are confident that the charity will continue to operate for the foreseeable future,
FUTURE PLANS
No change is envisaged in the operation of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Machsikei Yeshive is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission and governed by its constitution dated 29th November 2013.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Related parties
Related party transactions, balances and events that require disclosure are provided in Notes to the Financial Statements.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1154995
Principal address
69 LORDSHIP ROAD London N16 0QX
Trustees
S Tambur Y M Bernat C Kahan (appointed 12.8.24)
Independent Examiner
Malcolm Venitt ACA Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 27 November 2025 and signed on its behalf by:
S Tambur - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION
(C.I.O)
Independent examiner's report to the trustees of Machsikei Yeshive CHARITY INCORPORATED ORGANISATION (C.I.O)
I report to the charity trustees on my examination of the accounts of Machsikei Yeshive CHARITY INCORPORATED ORGANISATION (C.I.O) (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the 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.
Malcolm Venitt ACA
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
27 November 2025
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 950,514 | 781,769 |
| EXPENDITURE ON | |||
| Charitable activities | 3 | ||
| Advancement of education | 64,855 | 69,840 | |
| Alleviation of poverty | 611,886 | 635,137 | |
| Advancement of religion | 301,199 | 9,458 | |
| Other | 14,195 | 2,144 | |
| Total | 992,135 | 716,579 | |
| NET INCOME/(EXPENDITURE) | (41,621) | 65,190 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 29,462 | (35,728) | |
| TOTAL FUNDS CARRIED FORWARD | (12,159) | 29,462 |
The notes form part of these financial statements
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 22,842 | 59,502 | |
| CREDITORS | |||
| Amounts falling due within one year | 8 | (35,001) | (30,040) |
| NET CURRENT ASSETS/(LIABILITIES) | (12,159) | 29,462 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | (12,159) | 29,462 | |
| NET ASSETS | (12,159) | 29,462 | |
| FUNDS | 9 | ||
| Unrestricted funds | (12,159) | 29,462 | |
| TOTAL FUNDS | (12,159) | 29,462 |
The financial statements were approved and authorized for issue by the Board of Trustees and authorised for issue on 27 November 2025 and were signed on its behalf by:
S Tambur - Trustee
The notes form part of these financial statements
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | (36,660) | 42,350 |
| Net cash (used in)/provided by operating activities | (36,660) | 42,350 | |
| Change in cash and cash equivalents in the | |||
| reporting period | (36,660) | 42,350 | |
| Cash and cash equivalents at the beginning | |||
| of the reporting period | 59,502 | 17,152 | |
| Cash and cash equivalents at the end of the | |||
| reporting period | 22,842 | 59,502 |
The notes form part of these financial statements
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||
|---|---|---|
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Increase/(decrease) in creditors Net cash (used in)/provided by operations |
31.12.24 £ (41,621) 4,961 (36,660) |
31.12.23 £ 65,190 (22,840) |
| 42,350 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.24 | Cash flow | At 31.12.24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 59,502 | (36,660) | 22,842 |
| 59,502 | (36,660) | 22,842 | |
| Total | 59,502 | (36,660) | 22,842 |
The notes form part of these financial statements
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Donations | 950,514 | 781,769 |
continued...
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. CHARITABLE ACTIVITIES COSTS
| Advancement of education Alleviation of poverty Advancement of religion GRANTS PAYABLE Advancement of education Alleviation of poverty Advancement of religion SUPPORT COSTS Other resources expended |
Grant funding of activities Direct (see note Costs 4) £ £ 4,135 60,720 10,449 601,437 - 301,199 14,584 963,356 31.12.24 £ 60,720 601,437 301,199 963,356 Governance Finance costs £ £ 116 14,079 |
Totals £ 64,855 611,886 301,199 |
|---|---|---|
| 977,940 | ||
| 31.12.23 £ 47,965 574,720 9,458 |
||
| 632,143 | ||
| Totals £ 14,195 |
4. GRANTS PAYABLE
5. SUPPORT COSTS
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
continued...
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 781,769 | |||
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Advancement of education | 69,840 | |||
| Alleviation of poverty | 635,137 | |||
| Advancement of religion | 9,458 | |||
| Other | 2,144 | |||
| Total | 716,579 | |||
| NET INCOME | 65,190 | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | (35,728) | |||
| TOTAL FUNDS CARRIED FORWARD | 29,462 | |||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.24 | 31.12.23 | |||
| £ | £ | |||
| Other creditors | 35,001 | 30,040 | ||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.24 | in funds | 31.12.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 29,462 | (41,621) | (12,159) | |
| TOTAL FUNDS | 29,462 | (41,621) | (12,159) |
continued...
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 950,514 TOTAL FUNDS 950,514 Comparatives for movement in funds At 1.1.23 £ Unrestricted funds General fund (35,728) TOTAL FUNDS (35,728) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 781,769 TOTAL FUNDS 781,769 A current year 12 months and prior year 12 months combined position is as follows: At 1.1.23 £ Unrestricted funds General fund (35,728) TOTAL FUNDS (35,728) |
Resources Movement expended in funds £ £ (992,135) (41,621) (992,135) (41,621) Net movement At in funds 31.12.23 £ £ 65,190 29,462 65,190 29,462 Resources Movement expended in funds £ £ (716,579) 65,190 (716,579) 65,190 Net movement At in funds 31.12.24 £ £ 23,569 (12,159) 23,569 (12,159) |
|---|---|
continued...
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MACHSIKEI YESHIVE CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,732,283 | (1,708,714 ) | 23,569 |
| TOTAL FUNDS | 1,732,283 | (1,708,714 ) | 23,569 |
10. RELATED PARTY DISCLOSURES
Donations totalling £19,880 [2023 - £1,800] were received from charities with common trustees.
Other creditor includes £32,601 [2023 - £28,001] payable to charities with common trustees.
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