REGISTERED CHARITY NUMBER: 1160196
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023
for
MISASKIM
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
MISASKIM
Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 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 7 |
MISASKIM
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 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 aims
The objects of the CIO are to promote and protect mental and physical health for persons resident in London suffering from bereavement or loss by the provision of support and counselling for such persons. This object is particularly focused on addressing the religious and cultural needs of the Jewish community but is not restricted to that community.
The relief of financial hardship by the provision of assistance to persons who, through lack of means or other incapacity, would otherwise be unable to obtain such support.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity commission's general guidance to public benefit when reviewing the charity's aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE Internal and external factors
There are no specific factors to report.
The charity continued its charitably activities by providing support for bereaved people.
The charity purchased a new van which has enabled the charity to increase its effectiveness in the pursuit of its objectives.
FINANCIAL REVIEW
Financial position
During the year the charity received donations from the public totalling £65,866 (2022: £68,735) and expenditure in pursuit of its charitable activities was £70,236 (2022: £58,996), giving the charity a net deficit of £4,370 (2022: £9,739 surplus). At the balance sheet date the charity had total unrestricted funds of £148,564 (£152,934).
Reserves policy
The present level of funding is adequate to meet the trustees objectives. The trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
The trustees plan to continue to pursue its charitable objectives. The charity plans to purchase a building which will enable it to pursue its charitable objectives more efficiently.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1160196
Principal address
First Floor Winston House 349 Regents Park Road London N3 1DH
Page 1
MISASKIM
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023
Trustees
Mr A H Vorhand Mr B Korman Mr B Grossnass Mr S Levy
Independent Examiner
Mr Aryeh Melinek, FCA 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 24 January 2024 and signed on its behalf by:
Mr A H Vorhand - Trustee
Page 2
Independent Examiner's Report to the Trustees of Misaskim
Independent examiner's report to the trustees of Misaskim
I report to the charity trustees on my examination of the accounts of Misaskim (the Trust) for the year ended 31 March 2023.
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
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Mr Aryeh Melinek, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
24 January 2024
Page 3
MISASKIM
Statement of Financial Activities
FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 65,866 EXPENDITURE ON Charitable activities Charitable activities 70,236 NET INCOME/(EXPENDITURE) (4,370) RECONCILIATION OF FUNDS Total funds brought forward 152,934 TOTAL FUNDS CARRIED FORWARD 148,564 |
2022 Total funds £ 68,735 58,996 9,739 143,195 152,934 |
|---|---|
The notes form part of these financial statements
Page 4
MISASKIM
Balance Sheet 31 MARCH 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 3 80,963 CURRENT ASSETS Debtors 4 264 Cash at bank 68,087 68,351 CREDITORS Amounts falling due within one year 5 (750) NET CURRENT ASSETS 67,601 TOTAL ASSETS LESS CURRENT LIABILITIES 148,564 NET ASSETS 148,564 FUNDS Unrestricted funds 148,564 TOTAL FUNDS 148,564 |
2022 Total funds £ 89,636 310 63,738 64,048 (750) 63,298 152,934 152,934 152,934 152,934 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 24 January 2024 and were signed on its behalf by:
Mr A H Vorhand - Trustee
The notes form part of these financial statements
Page 5
MISASKIM
Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2023
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.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost Motor vehicles - at varying rates on cost
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. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
continued...
Page 6
MISASKIM
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023
3. TANGIBLE FIXED ASSETS
| COST At 1 April 2022 Additions At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
Fixtures and fittings £ 95,236 7,342 102,578 16,700 13,240 29,940 72,638 78,536 |
Motor vehicles Totals £ £ 22,200 117,436 - 7,342 22,200 124,778 11,100 27,800 2,775 16,015 13,875 43,815 8,325 80,963 11,100 89,636 2023 2022 £ £ 264 310 2023 2022 £ £ 750 750 |
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6. RELATED PARTY DISCLOSURES
Other creditors is comprised of a loan made by one of the trustees to the charity.
7. FINANCIAL INSTRUMENTS
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit or loss.
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