## **MERCAZ HATORAH NETZACH YISROEL**
**Charity No. 1161222**
**Annual report and financial statements For the year ended 31[st] December 2022**
**Mercaz Hatorah Netzach Yisroel For the year ended 31st December 2022**
|**Contents**||
|---|---|
||**Page**|
|**Reference and administrative information**|**1**|
|�✁✂✄☎✆
✆✄✝
✞✟✟✂✞✠
✁✆✡
☛✁☎|**2 - 4**|
|**Independent auditors' report**|**5 -7**|
|**Statement of financial activities**|**8**|
|(incorporating an income and expenditure account)||
|**Balance sheet**|**9**|
|**Statement of cash flows**|**10**|
|**Notes to the financial statements**|**11-18**|
**Mercaz Hatorah Netzach Yisroel Reference and administrative information For the year ended 31[st] December 2022**
|**Trustees:**|D Markovic|
|---|---|
||M Strom|
||Mrs. C P Spitzer|
||J Cope|
|**Charity number:**|1161222|
|**Registered office:**|81 Leeside Crescent, London, NW11 0JL|
|**Auditors:**|Goldwins Limited|
||75 Maygrove Road|
||West Hampstead|
||London NW6 2EG|
||www.goldwins.co.uk|
1
**Mercaz Hatorah Netzach Yisroel** �✁✂✄☎✆✆✄✝ ✁✆✡☛✁☎ **For the year ended 31st December 2022** The trustees present their report together with the financial statements of the charity for the year ended 31st December 2022. 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 The principal objectives of the charity are:** To advance the orthodox Jewish faith in such ways as the trustees think fit, including by awarding scholarships, maintenance allowances or grants to students to enable them to pursue further studies at an Institute of Advanced Jewish Studies. **Public benefit** The trustees have considered the Charity Commission's general guidance on public benefit in deciding what activities the charity should undertake. As stated on the 'Objectives and Activities' section, the charity provides education and supports poverty and illness amongst members of the Jewish faith. The trustee consider that the activities explained above, satisfy the public benefit requirement. **Achievements and performance** During the year, the charity has continued to operate the charitable activities and meet its objectives. �✁✂ ✄✁☎✆✝✞✟✠✡ supporters have rallied around to ensure the charity's ability to continue as a going concern for the next twelve months. The trustees are exceptionally grateful to all of the organisations and individuals for their continued support of the charity. The plans for the coming financial year are very ambitious but the trustees are working hard to ensure that financial supporters are kept informed of the charity's progress and the funds pledged for the year will allow the trustees to carry out their plans. **Financial review Financial position** The statement of financial activities shows net incoming resources for the year of a revenue nature of £1,157,075 (2021: £976,473) and net realised outgoing resources of £1,135,230 (2021 - £965,913) resulting in a surplus of £21,845 (2021: surplus of £10,560). The total reserves at the year end are £37,186 (2021 - £15,341). **Reserves policy**
The statement of financial activities shows net incoming resources for the year of a revenue nature of £1,157,075 (2021: £976,473) and net realised outgoing resources of £1,135,230 (2021 - £965,913) resulting in a surplus of £21,845 (2021: surplus of £10,560). The total reserves at the year end are £37,186 (2021 - £15,341).
The reserves policy takes into account the need to deal with short-term volatility of income without having to suddenly cut expenditure.
The trustees would aim to retain funds equivalent to 3-6 months expenditure to take account of any potential short fall in donations in future. The reserves policy and target level are reviewed by the trustees on an annual basis, together with any steps necessary to align the actual level with the target over time.
"!
**Mercaz Hatorah Netzach Yisroel** �✁✂✄☎✆✆✄✝ ✁✆✡☛✁☎ **For the year ended 31st December 2022 Plans for the future** The need for our services is increasing and we plan to continue doing what we can to assist. However, the trustees realise that we must use the resources we have wisely and so we will continue to target those problems where we have expertise to make the most difference. We therefore intend to continue our approach of education and training with further projects to build on the previous ones. **Structure, governance and management Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. **Statement of responsibilities of the trustees** �✁✂ ✞✆� ✡✞✂✂✡ ☎✆✂ ✆✂✡ ✁✂✄✡ ✝☎✆✂ ✝✂ ✆ ✁ ✆✂✁☎✆✝✄✞ ✞✁✂ ✞✆� ✡✞✂✂✡ ✠ ☎ ✄✄�☎ ✆ ✆✂✁✂✆✞ ☎ ✄✟ ✞✁✂ ✝ ✝✄☎ ✄✄ ✝☎ ✆ ✡ ✞☎✞✂✠ ✂ ✄✞✡ in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: ✡ Select suitable accounting policies and then apply them consistently ✡ Observe the methods and principles in the Charities SORP ✡ Make judgements and estimates that are reasonable and prudent ✡ State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements ✡ Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) ☛ ✂✞�✆☎ ✞✝✂✄✡ ☞✌✌✍ ☎ ✄✟ ✞✁✂ ✁ ✆✂ ✎ ✝✡ ✝✂ ✄✡ ✂ ✝ ✞ ✁✂ ✄ ✁☎ ✆✝✞✟ ✠✡ constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. #!
**Mercaz Hatorah Netzach Yisroel** �✁✂✄☎✆✆✄✝ ✁✆✡☛✁☎ **For the year ended 31st December 2022 Statement as to disclosure to our auditors** In so far as the trustees are aware: ✡ There is no relevant audit information of which the ✄✁☎✆✝✞✟✠✡ auditors are unaware; and ✡ The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. **Auditors** Goldwins Limited were appointed as the auditors of the charity during the year and have expressed their willingness to continue in that capacity. �✁✂ ✞✆ �✡✞ ✂✂✡✠ ☎ ✄✄� ☎ ✆ ✆✂✁✂ ✆✞ ✁☎✡ ☎ ✂✂ ✄ ☎ ✁✁✆✂ ✎✂✟ ☎✟ ✞ ✁✂ ✞✆�✡ ✞✂✂✡ ✂ ✄ 12 February 2024 and signed on their behalf by; ���� ��� ��� �� ��✁ M Strom ✂ Trustee
$!
## **INDEPENDENT AUDITORʼS REPORT TO THE TRUSTEES OF MERCAZ HATORAH NETZACH YISROEL**
## **Opinion**
We have audited the financial statements of Mercaz Hatorah Netzach Yisroel (the ‘Charity’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## **In our opinion, the financial statements:**
- give a true and fair view of the state of the Charity’s affairs as at 31 December 2022 and of its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorʼs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditorʼs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we required to determine whether there is a material misstatement in the financial statements or a material
5
## **INDEPENDENT AUDITORʼS REPORT TO THE TRUSTEES OF MERCAZ HATORAH NETZACH YISROEL**
misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Charity and environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
- sufficient accounting records have not been kept;
- the financial statements are not in agreement with the accounting records and returns; or
- we have not obtained all the information and explanations necessary for the purposes of our audit.
## **Responsibilities of the trustees**
As explained more fully in the trusteesʼ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures:
- We inspected the minutes of meetings of those charged with governance.
- We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
- We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
6
## **INDEPENDENT AUDITORʼS REPORT TO THE TRUSTEES OF MERCAZ HATORAH NETZACH YISROEL**
- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
- In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councilʼs website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditorʼs report.
## **Use of our report**
This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
**Goldwins Limited Statutory Auditor and Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG**
## **12 February 2024**
�✁✂✄☎✆✝✞ ✟✆✠✆✡☛✄ ✆✞ ☛✂ ✆☞✆ ✌✂ ☛ ✍✁✎ ✏✑ ✑✁✆✝✡✠☛✝ ✡ ✏✞ ✏ ✒✄✆✡✁ ✎ ✁✍ ✡✓ ☛ ✔✓✏✎✆✡✕ ✌ ✕ ✖ ✆ ✎✡✒☛ ✁✍ ✆✡✞ ☛✂ ✆☞ ✆ ✌✆✂ ✆✡✕ ✍✁✎ ✏ ✑✑✁ ✆✝ ✡✠☛✝✡ ✏✞ ✏✒✄✆✡ ✁✎ ✁✍ ✏ ✔✁ ✠✑✏ ✝ ✕ ✒ ✝✄ ☛✎ ✞ ☛✔✡✆✁ ✝ ✗✘✗ ✘ ✁✍ ✡✓☛ ✙✁✠✑✏✝ ✆☛✞ ✚✔✡ ✘✛✛ ✜✢
7
Mercaz Hatorah Netzach Ylsroel
Statement of financial activities lincorporaiing an income and expenditure account)
For the
ear ended 31 December 2022
2022
2021
Unrestricted
Fund
Restricted
Fund Total Fund
Toial Fund
Note
Income from..
Donation5 and legacies
,157.075
1,157,075
976,473
Total income
1 157.075
1,157,075
976,473
Expenditure on..
Raising funds
Charitable aciiviiie5
35.555
1,099.675
35,555
1,099,675
3,806
962,107
Total expendlture
1,135,230
1,135,230
965,913
Net income l {expenditurel for the year
21.845
21.845
10,560
Transfers between funds
Net income I lexpenditurel before other
recognised gains and losses
21.845
21,845
10,560
Net movement in funds
21,845
21,845
10,560
Reconciliarion of funds..
Total funds brought forward
15.341
15.341
4,781
Total funds carried forward
37.186
37.186
15,341
All of the above result5 are derived from continuing activiries. There were no other recognised gains or losses other than those
siaied above. Movements in fund5 are disclosed In Noie 12 to the financial 5taiement5.
Mercaz Hatorah Netzach Yisroel
Balance sheet
As at 31 December 2022
2022
2021
Note
Current assets..
Debtors
Cash at bank and IN hand
i 00.000
786
16,041
100,786
16,041
Crediiors.. amounts falling due wiihin one year
63,600
700
Net current a55ets
37,186
15,341
Total assets less current liabilities
37,186
15,341
Total net a55et5
37,186
15.341
The funds of the charity..
Unrestricted income funds".
General funds
37,186
15,341
Total unrestricted funds
37.186
15,341
Total charity funds
37,186
15,341
The financial statements were approved by the tru5tee5 on 12 February 2024 and signed on their behalf by
M Strom
Trustee
Mercaz Hatorah Netzach Yisroel
Statement of cash flows
For the
ear ended 31 December 2022
Noie
2022
2021
Cash flows from operatlng actlvltles
Net cash provided by I Iu5ed inl operating activitie5
115,2551
10,560
Cash flows from Investlng actlvltles..
Dividends. interest and rents from investments
Net cash provlded by / (used Inl Investlng actlvltles
Net cash provided by I (used inl financing activities
Change in cash and cash equivalent5 in the year
115.2551
10,560
Cash and cash equivalents at the beginning of the
year
16,041
5.481
Cash and cash equivalents at the end of the year
786
16,041
Mercaz Hatorah Netzach Yisroel
Notes to the financial statements
For the
ear ended 31 December 2022
Accounting policies
a) Basi5 of preparation
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charitie5 preparing their account5 in accordance with
the Financial Reporting Standard appliiable in the UK and Republic of Ireland IFRS 1021 (effective I
January 20191,. Financial Reporting Standard 102 The Finaniial Reporting Standard applicable in the UK
and Republic of Ireland, and the Charities Act 201 l . The financial statements have been prepared under
the historical cost convention.
bl Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a
going concern. The trustees do not consider that there are any sources of estimation uncertainty at the
reporting date that have a significant risk of causing a material adjustment to the carrying amounts of
asset5 and liabilitie5 Wlthin the next reporting period.
cl Income
Income is recognised when the charity has entitlement to the funds, any performance ionditions
attached to the income have been met. it 15 probable that the income will be received and that the
amount can be measLJred reliably.
dl Donations of gifts, services and facilitie5
Donated professional services and donated facilities are recognised as income when the charity has
control over the item or received the service, any conditions associated with the donation have been met.
the receipt of economic benefit from the use by the charity of the item 15 probable and that economic
benefit can be measured reliably- In accordance with the Charities SORP IFRS 1021, volunteer time is not
recognised so refer to the trustees, annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on rhe basis of the
value of the gift to the charity which is the amount the charity would have been willing to pay to obtain
services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then
recognised in expenditure in the period of receipt.
el Interest recelvable
Inrerest on funds held on deposit is included when receivable and the amount can be measured reliably
by the charity,. this is normally upon notif ication of the interest paid or payable by rhe bank.
Q Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which
meets these criteria is charged to the fund.
Unrestricted f unds are donations and other incoming resources received or generated for the charitable
purposes.
Designated funds are unrestricted f unds earmarked by the trustees for particular purposes.
gl Expenditure and irrecoverable VAT
ExpenditLJre is recognised once there is a legal or constructive obligation to make a payment to a third
party, it Is probable that settlement will be required and the amount of the obligation can be measured
reliably. Expenditure is classified under the following activity headings..
Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make
voluntary contributions to it, as well as the cost of any activities Wlth a fundraising purpose
Mercaz Hatorah Netzach Yisroel
Notes to the financial statements
For the
ear ended 31 December 2022
Accounting policie5 {continued)
Expenditure on charitable activities includes the costs of delivering services, undertaken to further
the purposes of the charity and their associated support costs.
Other expenditure represents those items not falling into any other heading
Grant5 offered 5ubjert to condition5 which have not been met at the year end date are noted as a
commitment but not accrued as expenditure.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Allocation of support COStS
Expenditure is accounted for on an accrua15 basis and ha5 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.
i) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
i) Tangible fixed assets
Depreciation costs are allocated to activities on the basis of the use of the related assets in those
activities. A55et5 are reviewed for impairment if circumstances indicate their carrying value may exceed
their net realisable value and value in use.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual
value over its expected usef ul life.
kl Debtor5
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
l) Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account. Cash balances exclude any f unds held on behalf of service users.
ml Creditors and provision5
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are normally recogni5ed at
their settlement amount after allowing for any trade discounts due.
n) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic fi nancial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loan5 which are subsequently measured at
amortlsed c05t using the effective interest method.
o) Pensions
The charity does not operate a stakeholder pension scheme.
Mercaz Hatorah Netzach Yisroel
Notes to the financial statements
For the
ear ended 31 December 2022
2 Detalled comparatlves for the statement of flnanclal actlvltles
2021
Total
Unrestricted
Restricted
Income from..
Donations and legacies
Charitable activities
Investment5
976,473
976,473
Total income
976.473
976,473
Expenditure on..
Raising funds
Charitable activiries
-student Grants
3,806
3,806
962,107
962,107
Total expenditure
965,913
965,913
Net income / expenditure before gains I Ilossesl on
Net gains 11105sesl on investments
10,560
10,560
Net income ] expenditure
Transfers between funds
10,560
10,560
Net movement in funds
Total funds brought forward
10,560
4,781
10,560
4,781
Total funds carried forward
15.341
15,341
Mercaz Hatorah Netzach Yisroel
Notes to the financial statements
For the
ear ended 31 December 2022
3 Income from donations and legacies
2022
Total
2021
Total
Unrestricted
Restricted
Donations
1,157,075
1.157,075
976,473
1,157,075
1.157,075
976,473
Mercaz Hatorah Netzach Yisroel
Note5 to the financial statements
For the year ended 31 December 2022
4 Analy515 of expenditure
Cost of
raising Charitable
funds
activities
Support
costs 2022 Total 2021 Total
Fundraising events
35.555
35,555
3,806
Postage and stationery
Advertising
Study books and reference materials
Travel costs
Student grants
Accoutancy
Bank charges
Audit fees
2,100
2,533
3,009
1,047
1,084,798
2,100
2,533
3,009
1,047
1.084,798
700
88
5,400
1,195
2,942
2,754
666
953,845
700
700
88
5,400
35,555 1,093,487
6,188
6,188 1,135,230
16,1881
965,913
Support Costs
Total expenditure 2022
35.555 1.099,675
1,135.230
Total expenditure 2021
3.806
962,107
965,913
The total expenditure £1 .13 5,230 was unrestricted12021 .. £965.9131.
Analy515 of expenditure (prior year)
Cost of
raising Charitable
funds
activities
Support
costs
2021
Total
Fund raising events
Direct cost
Postage and stationery
Advertising
Study books and reference materials
Travel costs
Student granrs
Support costs
Accoutancy
Bank charges
3.806
3,806
1,195
2,942
2,754
666
953,845
1,195
2,942
2,754
666
953,845
700
700
3,806
961 ,402
705
705
965,913
Support costs
17051
Total expenditure 2021
3,806
962,107
965.913
Mercaz Hatorah Netzach Yisroel
Notes to the financial statements
For the year ended 31 December 2022
Net incomlng resources for the year
This is stated after charging I crediting..
2022
2021
Auditors, remuneration (excluding VAT)..
Audit
4,500
Analysis of staff c05tS, trustee remuneration and expenses. and the cost of key management
personnel
The charity did not employ staff during the year12021 '. Nill.
The charity trustees were not paid or received any other benefits from employment with the
chariry in the year12021 '. £nill. No trustees received payment for professional or other services
supplied to the charity12021 '. £nill.
Trustees. reimbursement of travel and subsistence costs is £Nil
Related party transactions
There are no related party transactions to disclose for 2022 12021-. none).
Taxation
The charity is exempt from tax on its charitable activitie5.
Debtors
2022
2021
Other debtors
i 00.000
i 00,000
l O Creditors.. amounts falling due within one year
2022
2021
Loan
Accruals
57,500
6.100
700
63,600
700
Mercaz Hatorah Netzach Yisroel
Notes to the financial statements
For the year ended 31 December 2022
l Analysis of net assets between funds
General
unrestricted
Designated
Restricted Total funds
Current assets
Current liabilities
100,786
163,6001
100,786
163.6001
Net assets at the end of the year
37.186
37,186
Comparative for analysi5 of net assets between funds (prior yearl
General
Designated
Restricted Total funds
Current assets
Current liabilities
16,041
17001
16,041
1700)
Net assets at the end of the year
15,341
15,341
2 Movements in fund5
Incoming
At the start resources &
of the year
gains
Outgoing
resources &
losses
At the end
of the year
Transfers
Unrestricted funds:
General funds
15,341
1,157.075
{1.135,2301
37,186
Total unrestricted
15.341
1,157.075
11.135.230)
37.186
Total funds
15,341
1,157.075
{1.135,2301
37,186
Comparative for movement in funds Iprior yearl
Incoming
At the Start resources &
of the year
gains
Outgoing
resource5 &
losse5
At the end
of the year
Transfers
Unrestricted funds..
General funds
4,781
976.473
1965.913)
15,341
Total unrestricted funds
4,781
976.473
1965.913)
15,341
Total funds
4,781
976.473
1965.9131
15,341
Mercaz Hatorah Netzach Yisroel
Notes to the financial statements
For the year ended 31 December 2022
3 Reconclllatlon of net Income / lexpendlture) to net cash flow from operatlng actlvltles
2022
2021
Net income l (expenditure) for the reporting period
las per the statement of financial activities)
Depreciation charges
Dividends. interest and rent from investments
Ilncreaselldecrease in debtors
Increaselldecreasel in creditors
21.845
10,560
1100.0001
62.900
Net cash provided by / (used in) operating artivities
115,255)
10,560
4 Analysis of cash and cash equivalents
At31
December
2022
At l January
2022
Other
changes
Cash flow5
Cash in hand
16,041
115.2551
786
Total cash and cash equivalents
16,041
115,2551
786