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2020-09-30-accounts

REGISTERED COMPANY NUMBER: 00981941 (England and Wales) REGISTERED CHARITY NUMBER: 1157859

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

MATONOT LIMITED

Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH

MATONOT LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to 9

MATONOT LIMITED (REGISTERED NUMBER: 00981941)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2020. 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 activities

The objectives of the charity are to advance religion in accordance with the Orthodox Jewish faith, the relief of poverty, and to support other charitable activities as are recognised by English law as charitable.

In furtherance of its objectives the charity continues to advance and donate funds and support to other charities with similar activities with similar objectives to those meeting the charity's objectives.

Public benefit

Each year the trustees review their objectives to ensure that they continue to reflect the trustees' and the charity's aims. in carrying out their review the trustees have considered the Charity Commission's general guidance on public benefit and in particular to its supplementary guidance, with focused regard towards the advancement of the Orthodox Jewish faith and all its facets for the public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Given the currently depressed economic conditions in both the UK and worldwide, the trustees regard the performance of the charity during the current year as satisfactory, and will look to an improvement in economic confidence to boost the charity's performance in the future.

FINANCIAL REVIEW

Financial position

The Trustees consider that the charity has met its charitable objectives for the year and look to ways in which charitable contributions for the future can be sustained and increased, subject to restraints imposed by the continuingly depressed economic conditions.

Grant Making Policy

The charity accepts applications from representatives of various charities which are reviewed by the trustees on a regular basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

The charity is a company limited by guarantee. The charity is managed exclusively by 5 trustees. The day to day activities of the charity are managed by Mr J Lipschitz. the power of the the appointment and removal of trustees vests with the board of trustees.

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 Company number

00981941 (England and Wales)

Registered Charity number

1157859

Page 1

MATONOT LIMITED (REGISTERED NUMBER: 00981941)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2020

Registered office

First Floor, Winston House 349 Regents Park Road London N3 1DH

Trustees

J Lipschitz A Lipschitz R P Twerski M Twerski M Brander

Company Secretary Mrs F Lipschitz

Independent Examiner

Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH

Approved by order of the board of trustees on 7 June 2021 and signed on its behalf by:

J Lipschitz - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MATONOT LIMITED

Independent examiner's report to the trustees of Matonot Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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 Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts 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

  3. the accounts 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.

Danny Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH

7 June 2021

Page 3

MATONOT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
2
Total
EXPENDITURE ON
Raising funds
3
Charitable activities
Charitable activities
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2020
Unrestricted
fund
£
37,000
9,167
46,167
-
69,179
69,179
(23,012)
1,266,611
1,243,599		 2019
Total
funds
£
71,125
5,500
76,625
6,900
70,559
77,459
(834)
1,267,445
1,266,611

The notes form part of these financial statements

Page 4

MATONOT LIMITED (REGISTERED NUMBER: 00981941)

BALANCE SHEET 30 SEPTEMBER 2020

Notes
FIXED ASSETS
Investment property
6
CURRENT ASSETS
Debtors
7
Cash at bank
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
9
NET ASSETS
FUNDS
Unrestricted funds
TOTAL FUNDS		 2020
Unrestricted
fund
£
80,000
1,193,378
3,119
1,196,497
(6,898)
1,189,599
1,269,599
(26,000)
1,243,599
1,243,599
1,243,599		 2019
Total
funds
£
80,000
1,193,378
131
1,193,509
(6,898)
1,186,611
1,266,611
-
1,266,611
1,266,611
1,266,611

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 5

MATONOT LIMITED (REGISTERED NUMBER: 00981941)

BALANCE SHEET - continued 30 SEPTEMBER 2020

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

The financial statements were approved by the Board of Trustees and authorised for issue on 7 June 2021 and were signed on its behalf by:

J Lipschitz - Trustee

The notes form part of these financial statements

Page 6

MATONOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. 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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INVESTMENT INCOME

INVESTMENT INCOME
2020 2019
£ £
Rents received 9,167 5,500

continued...

Page 7

MATONOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

3. RAISING FUNDS

Investment management costs

2020 2019
£ £
Property repairs - 6,900
GRANTS PAYABLE
2020 2019
£ £
Charitable activities 67,147 67,840

4. GRANTS PAYABLE

The total grants paid to institutions during the year was £66,197 (2018: £67,840). A summary of grants made to institutions during the year is as follows:

institutions during the year is as follows:
Name of institution Amount (£)
MLT 1,340
Friends of Belz Machnofka 1,350
CML 1,760
UTA 1,884
Belz Synagouge 3,800
CYD 4,000
Yad Vochessed 5,000
Kolel Reb Meir Bal Hanes Chibus Yerushlim 5,750
Friends of Beis Aharon 6,500
MHBM 17,805
Other 17,008
Total grants to institutions £66,197

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2020 nor for the year ended 30 September 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2020 nor for the year ended 30 September 2019.

6. INVESTMENT PROPERTY

FAIR VALUE
At 1 October 2019
and 30 September 2020
NET BOOK VALUE
At 30 September 2020
At 30 September 2019		 £
80,000
80,000
80,000

continued...

Page 8

MATONOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income
9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 10)
10.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
11.
RELATED PARTY DISCLOSURES		 2020
£
1,193,378
2020
£
5,098
1,800
6,898
2020
£
26,000
2020
£
5,200
15,600
5,200		 2019
£
1,193,378		 2019
£
1,193,378		 2019
£
1,193,378
2019
£
-
6,898
6,898
2019
£
-
2019
£
-
-
-

The following donations were received during the year from related parties who are under common control:

Name of Related Party Amount (£)
Bellamore Trading Ltd 20,100
Maplecroft Consultants Ltd 10,300
ontinental Im 600
Total related party transactions 31,000

Page 9