MERCAZ HATORAH NETZACH YISROEL
Charity No. 1161222
Annual report and financial statements For the year ended 31[st] December 2023
Mercaz Hatorah Netzach Yisroel For the year ended 31st December 2023
Contents
| Contents | |
|---|---|
| Page | |
| Reference and administrative information | 1 |
| Trustees’ annual report | 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 2023
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 Trustees’ report For the year ended 31st December 2023
The trustees present their report together with the financial statements of the charity for the year ended 31st December 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
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. The charity’s 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 £1,285,376 (2022: £1,157,075) and net realised outgoing resources of £1,252,402 (2022 £1,135,230) resulting in a surplus of £32,974 (2022: surplus of £21,845). The total reserves at the year end are £70,160 (2022 - £37,186).
Reserves policy
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.
2
Mercaz Hatorah Netzach Yisroel Trustees’ report For the year ended 31st December 2023
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
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with 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).
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 judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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) Regulations 2008 and the provisions of the trust deed/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.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
3
Mercaz Hatorah Netzach Yisroel Trustees’ report For the year ended 31st December 2023
Statement as to disclosure to our auditors
In so far as the trustees are aware:
-
●There is no relevant audit information of which the charity’s 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 reappointed as the auditors of the charity during the year and have expressed their willingness to continue in that capacity.
The trustees’ annual report has been approved by the trustees on 29 October 2024 and signed on their behalf by;
…………………………………….
M Strom – Trustee
4
INDEPENDENT AUDITOR ʼS 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 2023 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 2023 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
5
INDEPENDENT AUDITOR ʼS REPORT TO THE TRUSTEES OF MERCAZ HATORAH NETZACH YISROEL
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 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:
6
INDEPENDENT AUDITOR ʼS REPORT TO THE TRUSTEES OF MERCAZ HATORAH NETZACH YISROEL
-
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.
-
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
29 October 2024
Goldwins Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
7
Mercaz Hatorah Netzach Yisroel
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 December 2023
| Note Income from: 3 4 4 5 Reconciliation of funds: Total income Expenditure on: Donations and legacies Raising funds Net income / (expenditure) for the year Total expenditure Charitable activities Transfers between funds Net income / (expenditure) before other recognised gains and losses Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Fund £ 1,285,376 |
Restricted Fund £ - |
2023 Total Fund £ 1,285,376 |
2022 Total Fund £ 1,157,075 |
|---|---|---|---|---|
| 1,285,376 | - | 1,285,376 | 1,157,075 | |
| 28,828 1,223,574 |
- - |
28,828 1,223,574 |
35,555 1,099,675 |
|
| 1,252,402 | - | 1,252,402 | 1,135,230 | |
| 32,974 - |
- - |
32,974 - |
21,845 - |
|
| 32,974 | - | 32,974 | 21,845 | |
| 32,974 37,186 |
- - |
32,974 37,186 |
21,845 15,341 |
|
| 70,160 | - | 70,160 | 37,186 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 12 to the financial statements.
8
Mercaz Hatorah Netzach Yisroel Balance sheet
As at 31 December 2023
| Note £ Current assets: 9 78,050 2,910 80,960 Liabilities: 10 10,800 12 70,160 Total unrestricted funds Cash at bank and in hand Total charity funds Unrestricted income funds: General funds The funds of the charity: Total net assets Debtors Creditors: amounts falling due within one year Net current assets Total assets less current liabilities |
Note £ Current assets: 9 78,050 2,910 80,960 Liabilities: 10 10,800 12 70,160 Total unrestricted funds Cash at bank and in hand Total charity funds Unrestricted income funds: General funds The funds of the charity: Total net assets Debtors Creditors: amounts falling due within one year Net current assets Total assets less current liabilities |
2023 £ 70,160 |
£ 100,000 786 |
2022 £ 37,186 |
|---|---|---|---|---|
| 80,960 10,800 |
100,786 63,600 |
|||
| 70,160 | 37,186 | |||
| 70,160 | 37,186 | |||
| 70,160 | 37,186 | |||
| 70,160 | 37,186 | |||
| 70,160 | 37,186 |
The financial statements were approved by the trustees on 29 October 2024 and signed on their behalf by
M Strom Trustee
9
Mercaz Hatorah Netzach Yisroel Statement of cash flows
For the year ended 31 December 2023
| Note £ £ 13 2,124 - - - 2,124 786 14 2,910 Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Net cash provided by / (used in) financing activities Change in cash and cash equivalents in the year 2023 Cash flows from operating activities Net cash provided by / (used in) investing activities Net cash provided by / (used in) operating activities Cash flows from investing activities: Dividends, interest and rents from investments |
Note £ £ 13 2,124 - - - 2,124 786 14 2,910 Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Net cash provided by / (used in) financing activities Change in cash and cash equivalents in the year 2023 Cash flows from operating activities Net cash provided by / (used in) investing activities Net cash provided by / (used in) operating activities Cash flows from investing activities: Dividends, interest and rents from investments |
Note £ £ 13 2,124 - - - 2,124 786 14 2,910 Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Net cash provided by / (used in) financing activities Change in cash and cash equivalents in the year 2023 Cash flows from operating activities Net cash provided by / (used in) investing activities Net cash provided by / (used in) operating activities Cash flows from investing activities: Dividends, interest and rents from investments |
£ £ (15,255) - - - (15,255) 16,041 786 2022 |
£ £ (15,255) - - - (15,255) 16,041 786 2022 |
|---|---|---|---|---|
| 2,124 786 |
(15,255) 16,041 |
|||
| 2,910 | 786 |
10
Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the year ended 31 December 2023
1 Accounting policies
a) Basis 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 (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.
b) 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 assets and liabilities within the next reporting period.
c) Income
- Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
d) Donations of gifts, services and facilities
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 is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), 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 the 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.
e) Interest receivable
- Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
f) 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 funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
g) Expenditure and irrecoverable VAT
Expenditure 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 with a fundraising purpose
11
Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the year ended 31 December 2023
1 Accounting policies (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
-
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.
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 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.
i) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
j) Tangible fixed assets
Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets 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 useful life.
k) Debtors
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 funds held on behalf of service users.
m) Creditors and provisions
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 recognised 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 financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
o) Pensions
The charity does not operate a stakeholder pension scheme.
12
Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the year ended 31 December 2023
2 Detailed comparatives for the statement of financial activities
| Transfers between funds Net income / expenditure Total funds carried forward Net movement in funds Total expenditure Net gains / (losses) on investments Total funds brought forward Investments Donations and legacies Charitable activities Expenditure on: Net income / expenditure before gains / (losses) on investments -Student Grants Total income Raising funds Charitable activities Income from: |
£ 1,157,075 - 1,157,075 35,555 1,099,675 1,135,230 21,845 - 21,845 - 21,845 15,341 37,186 Unrestricted |
Restricted £ - - - - - - - - - - - - - |
2022 Total £ 1,157,075 - |
|---|---|---|---|
| 1,157,075 | |||
| 35,555 1,099,675 |
|||
| 1,135,230 | |||
| 21,845 - |
|||
| 21,845 - |
|||
| 21,845 15,341 |
|||
| 37,186 |
3 Income from donations and legacies
| Donations | Unrestricted £ 1,285,376 1,285,376 |
£ - - Restricted |
2023 Total £ 1,285,376 1,285,376 |
2022 Total £ 1,157,075 |
|---|---|---|---|---|
| 1,157,075 |
13
Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the year ended 31 December 2023
4 Analysis of expenditure
| Fundraising events Telephone Postage and stationery Advertising Study books and reference materials Travel costs Student grants Support costs Accoutancy Bank charges Audit fees Support costs Total expenditure 2023 Total expenditure 2022 The total expenditure £1,252,402 w |
Cost of raising funds £ 28,828 - - - - - - - - - |
Charitable activities £ - 334 979 2,182 677 15,272 1,198,826 - - - |
Support costs £ - - - - - - - (100) 4 5,400 |
2023 Total £ 28,828 334 979 2,182 677 15,272 1,198,826 (100) 4 5,400 |
2022 Total £ 35,555 - 2,100 2,533 3,009 1,047 1,084,798 700 88 5,400 |
|---|---|---|---|---|---|
| 28,828 - |
1,218,270 5,304 |
5,304 (5,304) |
1,252,402 - |
1,135,230 | |
| 28,828 | 1,223,574 | - | 1,252,402 | ||
| 35,555 | 1,099,675 | - | 1,135,230 | ||
| as unrestricted (2022: £1,135,230). |
Analysis of expenditure (prior year)
| Analysis of expenditure (prior year) | ||||
|---|---|---|---|---|
| Fund raising events Direct cost Postage and stationery Advertising Study books and reference materials Travel costs Student grants Support costs Accoutancy Bank charges Audit fees Support costs Total expenditure 2022 |
Cost of raising funds £ 35,555 - - - - - - - |
Charitable activities £ - 2,100 2,533 3,009 1,047 1,084,798 - - - |
Support costs £ - - - - - - 700 88 5,400 |
2022 Total £ 35,555 2,100 2,533 3,009 1,047 1,084,798 700 88 5,400 |
| 35,555 - |
1,093,487 6,188 |
6,188 (6,188) |
1,135,230 - |
|
| 35,555 | 1,099,675 | - | 1,135,230 |
15
Mercaz Hatorah Netzach Yisroel Notes to the financial statements
For the year ended 31 December 2023
5 Net incoming resources for the year
This is stated after charging / crediting:
| Net incoming resources for the year This is stated after charging / crediting: |
||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Auditors' remuneration (excluding VAT): | ||
| Audit | 4,500 | 4,500 |
6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
The charity did not employ staff during the year (2022: Nil).
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil). No trustees received payment for professional or other services supplied to the charity (2022: £nil).
Trustees' reimbursement of travel and subsistence costs is £Nil .
7 Related party transactions
There are no related party transactions to disclose for 2023 (2022: none).
8 Taxation
The charity is exempt from tax on its charitable activities.
9 Debtors
| Debtors | ||
|---|---|---|
| Loan Other debtors Creditors: amounts falling due within one year Accruals |
2023 £ 78,050 |
2022 £ 100,000 |
| 78,050 | 100,000 | |
| 2023 £ - 10,800 |
2022 £ 57,500 6,100 |
|
| 10,800 | 63,600 |
10 Creditors: amounts falling due within one year
16
Mercaz Hatorah Netzach Yisroel Notes to the financial statements
For the year ended 31 December 2023
11 Analysis of net assets between funds
| General unrestricted £ £ 80,960 - (10,800) - 70,160 - Comparative for analysis of net assets between funds (prior year) General £ £ 100,786 - (63,600) - 37,186 - 12 At the start of the year Incoming resources & gains Outgoing resources & losses £ £ £ General funds 37,186 1,285,376 (1,252,402) 37,186 1,285,376 (1,252,402) 37,186 1,285,376 (1,252,402) Total funds funds Unrestricted funds: Current assets Current assets Net assets at the end of the year Movements in funds Designated Current liabilities Designated Current liabilities Net assets at the end of the year |
General unrestricted £ £ 80,960 - (10,800) - 70,160 - Comparative for analysis of net assets between funds (prior year) General £ £ 100,786 - (63,600) - 37,186 - 12 At the start of the year Incoming resources & gains Outgoing resources & losses £ £ £ General funds 37,186 1,285,376 (1,252,402) 37,186 1,285,376 (1,252,402) 37,186 1,285,376 (1,252,402) Total funds funds Unrestricted funds: Current assets Current assets Net assets at the end of the year Movements in funds Designated Current liabilities Designated Current liabilities Net assets at the end of the year |
General unrestricted £ 80,960 (10,800) |
£ - - Designated |
Restricted £ - - |
Total funds £ 80,960 (10,800) |
|---|---|---|---|---|---|
| 70,160 | - | - | 70,160 | ||
| Restricted £ - - |
Total funds £ 100,786 (63,600) |
||||
| 37,186 | - | - | 37,186 | ||
| Incoming resources & gains £ 1,285,376 |
Outgoing resources & losses £ (1,252,402) |
Transfers £ - |
At the end of the year £ 70,160 |
||
| 37,186 | 1,285,376 | (1,252,402) | - | 70,160 | |
| 37,186 | 1,285,376 | (1,252,402) | - | 70,160 |
Comparative for movement in funds (prior year)
| General funds Total unrestricted funds Total funds Unrestricted funds: |
At the start of the year £ 15,341 |
Incoming resources & gains £ 1,157,075 |
Outgoing resources & losses £ (1,135,230) |
Transfers £ - |
At the end of the year £ 37,186 |
|---|---|---|---|---|---|
| 15,341 | 1,157,075 | (1,135,230) | - | 37,186 | |
| 15,341 | 1,157,075 | (1,135,230) | - | 37,186 |
17
Mercaz Hatorah Netzach Yisroel Notes to the financial statements
For the year ended 31 December 2023
13 Reconciliation of net income / (expenditure) to net cash flow from operating activities
| Net income / (expenditure) for the reporting period (as per the statement of financial activities) Depreciation charges (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by / (used in) operating activities 14 Analysis of cash and cash equivalents At 1 January 2023 £ Cash in hand 786 Total cash and cash equivalents 786 |
Net income / (expenditure) for the reporting period (as per the statement of financial activities) Depreciation charges (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by / (used in) operating activities 14 Analysis of cash and cash equivalents At 1 January 2023 £ Cash in hand 786 Total cash and cash equivalents 786 |
Cash flows £ 2,124 |
2023 £ 32,974 - 21,950 (52,800) |
2022 £ 21,845 - (100,000) 62,900 |
|---|---|---|---|---|
| 2,124 | (15,255) | |||
| Other changes £ - |
£ 2,910 At 31 December 2023 |
|||
| 786 | 2,124 | - | 2,910 |
18