Charity number: 1175411 MIZRACHI (UK) Charitable Incorporated Organisation UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023 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 2023 The Trustees present their annual report together with the financial statements of the Charitsble Incorporated Organisation for the 1 January 2023 10 31 December 2023. Objectives and activities a. Policies and objectives Mizrachi IUKI was sel up in anticipation of transferring the activities, assets and liabilities of Mizrachi IUKI Israel Support Trust. Since this has not yet taken plaTr, the Charitable Incorporated Organisation remained relatively inactive throughout the period. In setting objectives and planning for activities, the Trustees have given due consideration lo general guidance published by the Charity Commission relating to 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 lo continue in operational existence for the ftireseeable future as the Trustees anticipate continued support from a charity with common Iruslees. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further detsils regarding the adoption of the going concem 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 Charitsble Incorporated Organisation Is the responsibility of the Trustees who are elected and c(l-OPted under the terms of the Conslitulion. Page 2
MIZRACHI IUKI Charitable Incorporated Oryanisation TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 ststement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements 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 lo prepare financial statements for each financial which give a true and fair view of the stale of affairs of the Charitable Incorporated Organisation and of its incoming resources and application of resources, including ils Income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required to.. 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 ft)Ilowed, 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 Charitable Incorporated Organisation 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 Charitable Incorporated Organisab'on 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.. Steven Blumgart Ichair of Trustees) Dale. 3111012024 Page 3
MIZRACHI IUKI Charitable Incorporated Oryanisation STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Total income Expendlture on: Charitable activities 1,385 1,385 810 Total expenditure 1.385 1.385 870 Net movement in funds {1,3851 {1,3851 (870) Reeoneiliation of funds.. Total funds brought forward Nel movement in funds {1.3771 {1.385) {1.3771 {1.385) (507) (870) Total funds carried forward {2,7621 {2,7621 (1,377) The Statement 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 2023 2023 2022 Note Current assets Cash al bank and in hand 598 633 598 633 Creditors.. amounts falling due within one year {3,360) (2,010) Net current liabilities 12.762} (1,377) Total assets less current liabilities 12,762} (1,377) Total net assets 12,762} (1,377) Charity funds Unrestricted funds 12,762} (1,377) Total funds 2,762) {1,317) The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. steven Blumgart Ichair of Trustees) Dale.. 3111012024 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 2023 Accountlng pollcles 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Assets and liabilities are initially 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 Organisation is in a deficit position amounting to £1,377 al 31 Dember 2022, the trustees have prepared the accounts on a going concern basis. This is due to the Trustees anlicipialing continued support from a charity with common Iruslees. As such, the Iruslees consider that the Charitable Incorporated Organisalion is able to continue its activities for a period of al least Ie1ve months from the dale of signature of these accounts and the accounts have therefore been prepared on a going concem basis. 1.3 Expenditure Expenditure is recognised On there is a legal or constructive obligation lo transfer economic benefit lo 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 directly undertaking the activities which further the Charitable Incorporated Organisalion's objectives, as well as any associated support costs. 1.4 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi 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. 1.5 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balan sheet date as a result of a past event, il 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 Organisalion anticipates it will pay lo sellle the debt or the amount il has reiVed as adVand payments for the goods or services it musl provide. Page 6
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture on charltable actlvltles Summary by fund type Unrestrlcted funds 2023 Total 2023 Support Costs 1,385 1,385 Unrestrictgd funds 2022 Total 2022 Support costs 870 870 Analysis of expenditure by activities Support costs 2023 Total funds 2023 Support costs 1,385 1.385 Support costs 2022 Total funds 2022 Support costs 870 870 Page 7
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture by actlvltles Icontlnuedl Analysls of support costs Advanclng the Jewish Religion 2023 Total funds 2023 Sundry Accountancy fee 35 35 1,350 1,350 1,385 1,385 Advancing the Jewish Religion 2022 Total funds 2022 Sundry Accountancy fee 60 60 810 810 870 870 Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits (2022- £NIL). During the year ended 31 December 2023, no Trustee expenses have been incurred (2022- £NIL). Creditors: Amounts falling due within one year 2023 2022 Accruals and deferred income 3,360 2,010 Page 8
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Summary offunds Summary offunds - current year Balance at 31 December 2023 Balance at 1 January 2023 Expendlture General funds 11.3771 11,3851 {2.7621 Summary offunds - prlor year Balance at 31 December 2022 Balance at l January 2022 Expenditure General funds (507) (870) (1.377) Analysis of net assets between funds Anatysis of net assets between funds - current year Unrestrieted funds 2023 Total funds 2023 Current assets 598 598 Creditors due within one year 13,3601 {3.3601 Totsl 12,7621 {2.7621 Page 9
MIZRACHI IUKI Charitable Incorporated Oryanisation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of net assets between funds {contlnuedl Analysls of net assets between funds - prlor year Unreslricled funds 2022 Total funds 2022 Current assets Creditors due within one year 633 (2, 010) 633 {2,010) Totsl fl,377) (1,377) Related party transactlons The Charitsble Incorporated Organisalion has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charitable Incorporated Organisalion at 31 December 2023. Page 10