Charity number: 1175411 MIZRACHI (UK) Charitable Incorporated Organisation UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
MIZRACHI IUKI Charitable Incorporated Oryanisation CONTENTS Page Reference and admlnlstratlve detalls of the Charltable Incorporated Oryanlsatlon, Its Trustees and advisers Trustees. report ststement of financial activities 8alance sheet Notes to the financial statements 6-10
MIZRACHI IUKI Charitable Incorporated Oryanisation REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees Steven Blumgart, Chair Samuel Rubin David Daniel Morris Mathew Fruhman Grant Kurland Sean Melnick Michelle Bauernfreund Charity registered number 1175411 Principal office London School Of Jewish Studies, Sch811er House 44A Albert Road London NW4 2SJ Accountants Berg Kaprow Lewis LLP Chartered Accounlanls 35 Ballards Lane London N3 1XW Page 1
MIZRACHI IUKI Charitable Incorporated Oryanisation TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees present their annual report together with the financial ststements of the Charitable Incorporated Organisation for the 1 January 2021 10 31 December 2021. Objectives and activities a. Policies and objectives Mizrachi IUKI was sel up in anticipation of transferring the aclivilies, assets and liabilities of Mizrachi IUKI Israel Support Trust. Since this has not yel taken place, the Charitsble Incorporated Organisation remained relatively inactive throughout the period. In setting objectives and planning for aclivilies, the Trustees have given due consideration to general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a charity IP821'. . Going concem After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue In operational existence for the foreseeable future. For this reason, they continue lo adopt the going conrn basis in preparing the financial stalemenls. Further details regarding the adoption of the going COnM basis can be found in the accounting policies. Structure, governance and management a. Constitution Mizrachi {UKI is a registered charity, number 1175411, and is constituted under a Constitution. b. Methods of appointment or election of Trustees The management of the Charitable Incorporated Organisalion is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution. Page 2
MIZRACHI IUKI Charitable Incorporated Oryanisation TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 ststement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally A¢pIed Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial stslements for each financial which give a true and fair view of the slate of affairs of the Charitable Incorporated Organisalion and of its incoming resources and application of resources, Including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principle5 of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo 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 Charitsble Incorporated Organisation will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Incorporated Organisalion's transactions and disclose with reasonable accuracy at any time the financial position of the Charitsble Incorporsted Organisalion 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 Constitution. They are also responsible for safeguarding the assets of the Charitsble Incorporated Organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. S Blumgart Trustee". Dale". 3111012022 Page 3
MIZRACHI IUKI Charitable Incorporated Oryanisation STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestricted funds 2021 Total funds 2021 Total funds 2020 Note Income from: Donations and legacies 1.200 1.200 1,200 Total income 1,200 1,200 1,200 Expenditure on: Charitable activities 1.205 1.205 1,387 Total expendlture 1,205 1,205 1,387 Net movement in funds (187) Reconciliation of funds.. Total funds brought forward Nel movement in funds 15021 15021 (315) (187) Total funds carrigd forward 15071 15071 (502) The Ststemenl of Financial Activities includes all gains and losses recognised in the year. Page 4
MIZRACHI IUKI Charitable Incorporated Oryanisation BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note Current assets Cash al bank and in hand 693 698 693 698 Creditors.. amounts falling due within one year 11,200) (1,200) Net current liabilities 15071 (502) Total assets less current liabilities 15071 (502) Total net assets 15071 (502) Charity funds Unrestricted funds 15071 (502) Total funds 15071 (502) The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. steven Blumgart Trustee.. Dale 3111012022 The notes on pages 6 10 10 form part of these financial slalemenls. Page 5
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcles 1.1 Basis of preparation of financial statements The financial slalements have been prepared in accordan with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Slalement of Recommended Practi effective from 1 April 2005 which has Sin been withdrawn. Assets and liabilities are Initial recognised al historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Going concern Although the balan sheet of the Charitable Incorporated Organisalion is in a deficit position amounting lo £1,707 al 31 December 2021, the trustees have prepared the accounts on a going concern basis. This is due to a charity with common Iruslees, agreeing to provide additional grants if essary lo support the Charitable Incorporated Organisation. As such, the trustees consider that the Charitable Incorporated Organisalion is able to continue ils activities for a period of at least elve months from the dale of signature of these accounts and the accounts have therefore been prepared on a going COnM basis. 1.3 Income All income is recognised once the Charitable Incorporated Organisalion has entillemenl to the income, il is probable that the income will be reiVed and the amount of income receivable can be measured reliably. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on direcdy undertaking the activities which further the Charitable Incorporated Organisalion's objectives, as well as any associated support costs. 1.5 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. Page 6
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcles Icontlnuedl 1.6 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balan sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the Charitable Incorporated Organisation anticipates it will pay to settle the debt or the amount il has received as adVand payments for the goods or services it musl provide. Income from donatlons and legacles Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 Donations 1,200 1,200 1,200 Total 2020 1,200 1,200 Anatysis of expenditure on charitable activities Summary by fund type Unrestrieted funds 2021 Total funds 2021 Total funds 2020 Support costs 1,205 1.205 1,387 Total 2020 1.387 1.387 Page 7
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysls of expendlture by actlvltles Support costs 2021 Total funds 2021 Total funds 2020 Support Costs 1,205 1,205 1,387 Total 2020 1,387 1,387 Analysis of support costs Total funds 2021 Total funds 2020 Activities 2021 Sundry Accountancy fee (13) 1,400 1,200 1,200 1,205 1.205 1,38T Total 2020 1,387 1,387 Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits (2020- £NIL). During the year ended 31 December 2021, no Trustee expenses have been incurred (2020- £NILJ. Creditors: Amounts falling due within one year 2021 2020 Accruals and deferred income 1,200 1,200 Page 8
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Summary offunds Summary offunds - current year Balance at 31 December 2021 Balance at 1 January 2021 Income Expendlture General funds {502} 1,200 11,205) 15071 Summary offunds - prlor year Balan 8t 31 December 2020 Balance 81 l January 2020 Income Expenditure General funds (315) 1,200 (1,387) (502) Analysis of net assets between funds Anatysis of net assets between funds - current year Unrestricted funds 2021 Total funds 2021 Current assets 693 693 Creditors due within one year 11,2001 11.2001 Totsl 15071 15071 Page 9
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysls of net assets between funds {contlnuedl Analysls of net assets between funds - prlor year UnStricted funds 2020 Total funds 2020 Current assets Creditors due within one year 698 (1,200) 698 (1,200) Totsl (502) (502) Related party transactlons During the year, the Charitable Incorporated Organisalion received donations amounting lo £1,20012020'. £1,200) from Mizrachi IUKI Israel Support Trust, a charity with common Trustees. Page 10