2020-12-31-accounts - Keren Ezra Mimtzika

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Keren Ezra Mimtzika

Charity No. 1160871

Trustees' Report and Unaudited Accounts

31/12/2020

Keren Ezra Mimtzika Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Accounts	7 to 10

Page 1

Keren Ezra Mimtzika Trustees Annual Report

The Trustees present their report with the unaudited financial statements of the charity for the period ended 31/12/2020.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1160871

Principal Office

11Linthorpe Road Stamford Hill London N16 5RE

Trustees

The following Trustees served during the year:

Y. March N. Padwa P. Weinburg

Accountants

S J Sheldon Ltd 20 Clarence Road Hale Cheshire WA15 8SG

Bankers

Barclays Kingsland Branch London E8 2JT

OBJECTIVES AND ACTIVITIES

The Charity is constituted by Trust Deed dates the 12th March 2015 and was registered on the 12th March 2015

The charity was set up for the advancement of the Orthodox Jewish Faith, advancement of Orthodox Jewish religious education, the relief of poverty, sickness and infirmity amongst members of the Jewish faith and such purposes as are charitable according to the laws of England and Wales.

ACHIEVEMENTS AND PERFORMANCE

During the year the Charity made donations of £784,307 (2019 £804,359)

FINANCIAL REVIEW

The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they deem to be appropriate.

Statement of trustees' responsibilities in relation to the financial statements

Page 2

Keren Ezra Mimtzika Trustees Annual Report

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

P. Weinburg Trustee 31/08/2021

Page 3

Keren Ezra Mimtzika Independent Examiners Report

Independent Examiner's Report to the trustees of Keren Ezra Mimtzika

I report to the trustees on my examination of the accounts of Keren Ezra Mimtzika for the period ended 31/12/2020 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by being a qualified member of Member of the Institute of Financial Accountants.

I have completed my examination. I can 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:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those 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.

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.

Simon Sheldon Member of the Institute of Financial Accountants S J Sheldon Ltd 20 Clarence Road Hale Cheshire

WA15 8SG 31/08/2021

Page 4

Keren Ezra Mimtzika Statement of Financial Activities for the period ended 31/12/2020

Unrestricted funds 31/12/2020 £ 722,512 -	Total funds 31/12/2020 £ 722,512 -	Total funds 31/12/2019 £ 776,872 415
722,512 786,969 828	722,512 786,969 828	777,287 806,165 1,140
787,797 -	787,797 -	807,305 -
(65,285) -	(65,285) -	(30,018) -
(65,285)	(65,285)	(30,018)
(65,285) 45,984	(65,285) 45,984	(30,018) 76,002
(19,301)	(19,301)	45,984

Page 5

Keren Ezra Mimtzika Balance Sheet

at 31/12/2020

Charity No. 1160871 Current assets Debtors 7 Cash at bank and in hand Creditors:Amount 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 (liabilities)/assets excluding pension asset or liability Total net (liabilities)/assets The funds of the charity Restricted funds 10 Unrestricted funds 10 General funds Reserves 10 Total funds Approved by the trustees on 31/08/2021	31/12/2020 £ 420 34,419 34,839 (4,140) 30,699 30,699 (50,000) (19,301) (19,301) (19,301) (19,301) (19,301)	31/12/2019 £ 420 46,104
		46,524 (540)
		45,984 45,984 -
		45,984
		45,984
		45,984
		45,984
		45,984

And signed on their behalf by:

P. Weinburg Trustee 31/08/2021

Page 6

Keren Ezra Mimtzika Notes to the Accounts

for the period ended 31/12/2020

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Keren Ezra Mimtzika Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Income from donations and legacies

3 Other income

Unrestricted £ 722,512 722,512	Total 31/12/2020 £ 722,512 722,512 Total 31/12/2020 £ - -	Total 31/12/2019 £ 776,872
		776,872
		Total 31/12/2019 £ 415
		415

Page 8

Keren Ezra Mimtzika

Notes to the Accounts

4 Expenditure on charitable activities

Expenditure on charitable activities Donations made Governance costs Bank charges CHAPS fees Consultancy fees 5 Other expenditure General administrative costs Legal and professional costs 6 Staff costs No employee received emoluments in excess of £60,000. 7 Debtors Other debtors 8 Creditors: amounts falling due within one year Other loans Accruals and deferred income	Unrestricted £ 784,307 1,952 360 350 786,969 Unrestricted £ 828 - 828 31/12/2020 £ 420 420 31/12/2020 £ 3,600 540 4,140	Total 31/12/2019 £ 804,359 1,576 - 230
		806,165
		Total 31/12/2019 £ 600 540
		1,140
		31/12/2019 £ 420
		420
		31/12/2019 £ - 540
		540

9 Creditors: amounts falling due after more than one year Bank loans and overdrafts	31/12/2020 £ 50,000 50,000	31/12/2019 £ -
		-

Page 9

Keren Ezra Mimtzika Notes to the Accounts

10 Movement in funds

Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds 11 Analysis of net assets between funds Net current assets Creditors due in more than one year and provisions 12 Reconciliation of net debt Cash and cash equivalents	Incoming resources (including other gains/losses ) £ 722,512 722,512 At 1 January 2020 £	Resources expended £ (787,797) (787,797) Unrestricte d funds £ 30,699 (50,000) (19,301) Cash flows £	At 31/12/2020 £ (19,301)
			(19,301)
			Total £ 30,699 (50,000)
			(19,301)
			At 31/12/2020 £
	46,104	(11,685)	34,419
	46,104 - -	(11,685)	34,419 (3,600) (50,000)
Borrowings		(3,600)
Bank loans		(50,000)
Net debt	- 46,104	(53,600) (65,285)	(53,600)
			(19,181)

Page 10

Keren Ezra Mimtzika Detailed Statement of Financial Activities

for the period ended 31/12/2020

Income and endowments from: Donations and legacies Other Total income and endowments Expenditure on: Charitable activities Donations made Governance costs Bank charges CHAPS fees Consultancy fees Total of expenditure on charitable activities General administrative costs, including depreciation and amortisation Information and publications Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains	Unrestricted funds 31/12/2020 £ 722,512 722,512 - - 722,512 784,307 784,307 1,952 360 350 2,662 786,969 - 644 184 828 - - 828 787,797 - (65,285) (65,285) -	Total funds 31/12/2020 £ 722,512 722,512 - - 722,512 784,307 784,307 1,952 360 350 2,662 786,969 - 644 184 828 - - 828 787,797 - (65,285) (65,285) -	Total funds 31/12/2019 £ 776,872
			776,872
			415
			415
			777,287 804,359
			804,359
			1,576 - 230
			1,806
			806,165 251 224 125
			600
			540
			540

			1,140
			807,305 -
			(30,018)
			(30,018) -

Page 11

Keren Ezra Mimtzika Detailed Statement of Financial Activities

Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	(65,285) 45,984 (19,301)	(65,285) 45,984 (19,301)	(30,018)
			76,002
			45,984

Page 12