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 2023
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 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 8 |
MATONOT LIMITED (REGISTERED NUMBER: 00981941)
Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2023
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 2023. 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 2023
Registered office
First Floor, Winston House 349 Regents Park Road London N3 1DH
Trustees
J Lipschitz A Lipschitz R P Twerski (resigned 1.7.24) M Twerski (resigned 21.2.23) M L Brander (resigned 21.2.23)
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 18 July 2024 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 2023.
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:
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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
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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
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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
18 July 2024
Page 3
MATONOT LIMITED
Statement of Financial Activities
FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Charitable activities Charitable activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 55,390 8,590 63,980 55,620 8,360 1,245,889 1,254,249 |
2022 Total funds £ 72,120 8,611 80,731 77,990 2,741 1,243,148 1,245,889 |
|---|---|---|
The notes form part of these financial statements
Page 4
MATONOT LIMITED (REGISTERED NUMBER: 00981941)
Balance Sheet 30 SEPTEMBER 2023
| Notes FIXED ASSETS Investment property 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 80,000 1,195,528 575 1,196,103 (13,241) 1,182,862 1,262,862 (8,613) 1,254,249 1,254,249 1,254,249 |
2022 Total funds £ 80,000 1,193,378 4 1,193,382 (13,241) 1,180,141 1,260,141 (14,252) 1,245,889 1,245,889 1,245,889 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 18 July 2024 and were signed on its behalf by:
J Lipschitz - Trustee
The notes form part of these financial statements
Page 5
MATONOT LIMITED
Notes to the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2023
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
| Rents received 3. GRANTS PAYABLE Charitable activities |
2023 £ 8,590 2023 £ 52,749 |
2022 £ 8,611 2022 £ 76,320 |
|---|---|---|
The total grants paid to institutions during the year was £49,773 (2022: £54,389). A summary of grants made to institutions during the year is as follows:
| Name of institution | Amount (£) |
|---|---|
| Friends of Beir Avrohom | 9,803 |
| Kolel Chibas Yerushalayim | 6,000 |
| Beis Aharon Trust | 5,860 |
| Synagogue D'Chasdei Belz | 5,300 |
| Mercaz Hatorah Belz Machnovke | 4,828 |
continued...
Page 6
MATONOT LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
3. GRANTS PAYABLE - continued
| Heichalei Hakodesh Centre Machnovke Belz | 4,000 |
|---|---|
| Amud Hatzdokoh Trust | 2,258 |
| Chevras Mo'oz Ladol | 1,443 |
| Machzikei Lomdei Torah | 1,342 |
| Yesamach Levav | 1,014 |
| Other | 7,393 |
| Total grants to institutions | 49,773 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.
5. INVESTMENT PROPERTY
| FAIR VALUE At 1 October 2022 and 30 September 2023 NET BOOK VALUE At 30 September 2023 At 30 September 2022 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 9) Trade creditors Other creditors Accruals and deferred income |
2023 £ 1,195,528 2023 £ 5,005 5,736 1,000 1,500 13,241 |
£ 80,000 80,000 80,000 2022 £ 1,193,378 2022 £ 5,005 5,736 1,000 1,500 13,241 |
|---|---|---|
continued...
Page 7
MATONOT LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 9) 9. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans 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 |
2023 £ 8,613 2023 £ 5,005 5,005 3,608 |
2022 £ 14,252 2022 £ 5,005 5,005 9,247 |
|
|---|---|---|---|
10. RELATED PARTY DISCLOSURES
The following donations were received during the year from related parties who are under common control:
| Name of Related Party | Amount (£) |
|---|---|
| Maplecroft Consultants Ltd | 23,000 |
| Bellamore Trading Ltd | 21,880 |
| Beis Aharon Charitable Trust Ltd | 6,850 |
| Grovepalm Ltd | 2,480 |
| Yad Vochessed Association Ltd | 580 |
| Continental Imports | 150 |
| Parkring Ltd | 50 |
| Total related party transactions | 54,990 |
Page 8