Chaiity number: 1175411 MIZRACHI (UK) Charitable Incorporated Organisation Annual Report and Financial Statements Page Reference and administratsve details of the charity Trustees, report 34 ststement of financial activities Balan Sheet Notes to the finanual $talements 7-10
MIZRACHI (UK) REFERENCE AND ADMINISTRATIVE OAlL5 OF THE CHARITY FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees: Steven Blumgart (Chairl Samuel Rubin David Daniel Morri$ Mahew Fruhman Iresigned 6 Marth 2025) Grant Kudand Sean Melnick Michele Bauemfreund Principal Operating Office: 448 Albert Road London NW4 2SJ Charlty reglstered numbor 1175411 Accountants Goldwins Limited 75 Maygrove Road Wesl Hampslead London 2EG Pagel 2
MIZRACHI (UK) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees are present their annual report together with the financial statements of the Charity for the year ended 31 December 2024. Objeetlves and Actlvltles Policies and Objectives Mizrachi (UK) was set up in anlicipalion of transferring the ath'vities. assets and liabilities of Mizrachi IUKI Israel Support Trust. Since this has not yet taken place, the Charitable Incorporated Organisalion remained relatively inactive throughout the penod. In setting objectives and planning for aclivilies, the Ifuslees have given due consideration lo general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public Benefit.. running a charity IPB2)'. Going concern After making appropnate enquiries. the Trustees have a reasonable expectation that the Charity has adequate sOUrceS lo continue in operatsonal exislen¢e for the foiesee8ble fvture, as the Trustees anlicipale continued support from a charity with common tfuslees. For this reason, they continue lo adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Structure. Governance and management Mizrachi IUKI is a registe charity, number 1175411, and is consb'luted under a constitution. The re5erve5 policy of the Charity requires a three month Teserve. As of 31 December 2024, the serves were in a deficiL Thef0, lIan on the charity being a going ncern has been plad on the support of the trustees. Method of appolntment or electlon of Trustees The management of the charitatAe incorporated Organisats'on is the responsibility ofthe Trustees who are elected and c(popled under the tenns of the Constitution. Statement of trustees, responslbllllles The Trustees are resF)onsible for preparing the TnJstees' Report and finanual statements in accordance with appliCae law and with the United Kingdom Accnting Standards (United Kingdom Generally Accepted Accounting Practs'cel. The law applicable to the Charities regisleres in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the income and expenditure for that period. In preparing these financial statements, the Trustees are required lo.. select suitsble accounting policies and then apply them consislenuy., observe the methods and prinurAes in Accounbng and ReFK)rting by Charities. Statement of Recommended prath' applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and ReputlC of Ireland IFRS 1021., make judgements and esbmales that are reasonable and prudenL Pagel 3
MIZRACHI (UK) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disdosed and explained in the financial slatemenls," and prepare the financial stslemenls on the going cOnM basis unless it is inappropriate to presume that the charity will continue in operab"on. The Trustees are responsible for keeping proper CoUntr"ng records that disclose with reasonable accuracy al any b'rne the finanual position of the charity and enable them lo ensure that the financial ststements comply with the Charities Act 2011 and the provisions of the Tnjst deed. They are also responsible for safeguarding the assets of the charity and henc£ for taking reasonable steps for the prevenb'on and detection of fraud and other irregularities. Approved by the Board of Trustees and signed on their behalf by.. Steven 8lumgart (Chair of Trustees) Date: 29 October 2025 Pagel 4
Mizrachi (UK) Statement of financial activities {incorporating an income and expenditure account) For the year ended 31 December 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Income from: Charitable aciivities Totsl incom8 Expenditure on.. Charitable actNities 1,385 Totsl expenditur• 1,385 Nol In¢om• I1oxp•ndltur•l for th• year 1,385 Transfers beeen funds Net mo¥•m•nt In lund• 11,3851 R¢¢on¢lllatlon of lund•: Total funds brought forward 12,7621 12,7621 11,3771 Totsl lund8 forward 2,762 2,762 2,762 All ol the above results are denved from eonbnuiNJ adiwtss. There were no other recognisod gains or l¢is£es other than those stated abov•. The attached notès fom part of these finan¢)al statem&nts. Page | 5
Mizrachi (UK Balance sheet As at 31 December 2024 2024 2024 2023 2023 Note Curront 3$sots: Cash at bank and in hand 598 598 598 598 Liabilities: Creditors.. amounts falling due wthin one year 3.360 3.360 Net current *$sèts 2.762 2.762 Total assets less currnnt liabilities {2.7621 12,7621 Total not assets 2.762 2,762 Funds Restrided fund$ Unreslricled funds 2,762 2,762 Total fund• 2.762 2,762 Approved by the trustees on 29 October 2025 and signed on their behalf by.. Stsven Blumgart Chair ol Tru$t••8 Charlty No. 1175411 The attached notes fomi part of the financial statements. Page16
Mizrachi {UK) Notes to the financial staternents For the year ended 31 December 2024 1 Accounting policies al Ba¥1¥ of preparation The finanaal statements fvave been prepared in accordance the Charities SORP IFR&1021- Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland appliCate in the UK and Republic of Ireland IFRS 1021 and ihe charies Act 2011. The charty meets the definrtion ol a public benefft entity under FRS 102. Assets and liabilrties are initially recognised at histoncal cost or transaction value unless othemse stated in the relevant accounting policy or note. bl Going concern At the balance sheet date ol the chanty, its net lun¢Js did not cover its commffted expen(Jtture for the first 3 months of 2025. However, the Trustees have prepareil the accounts on a going concem basis, due to a commitment from the Trustee8 to support the charity. A8 such, the Iru$lees consid&r Ihal the charity is lo ¢onlinue its acbvities for a ptrriod of al least fv4elve months from the date of signalure of these accounts and the aunts have thelOre been prepared on 8 going concern basis. cl Incom• All income is recognised once the Charity has enlitleTh*nt lo the income, rt is probable that the income will be received and the arnount of income receivable can be ffleasured reliably. Income tax recoverable in relation to donations receNed under Gift ANI or deeds of covenant Is recognised at the Ilme of the donatn. dl Inter•8t rec•lvabl• Intèrest on funds h8ld on dèposrt is induded when re¢èi¥able and th¢ amounl ¢an be measured rellably by tho charity,. this 18 norm81ty upon nolrftsts'on of the int&resi paid or payable by the bank. Pagel 7
Mizrachi {UK) Notes to the financial staternents For the ear ended 31 December 2024 1 Accountlng polocles Icontinuedl el Fund a¢¢ounting Unrestricted funds are available to spend on activities ihat fijrther any of the PUTposes of charity. Designated fun¢Js are unrestncted fiJnds of the charity which the Irustees have deoded at their disC"0n to set aside to use for a specrfic purpose. ReStrted lunds are donations which the donor has speafied are to be solety used for partieular arèa5 of the tharity's work orfor spe(ific ptojects beiny undèrtaken by thè charity. l) Expendlture and Irrecoverable VAT Expenditure is recogni5ed once there is a legal or ¢xJnstructNe obli9ation to make a payment to a third party. il is probable that settlement will be required and Ihe amount of the obligation can be rneasud reliably. Expenditure is dassified under the following activity headings.. Costs of raising funds comprise ol tra¢Jing costs and the costs incurred ty the charity in inducing third parties to make voluntary contributions to rt, as well as the cost of any activities with a lundraising purpose. Expenditure on charrtable actNities indudes Ihe costs of delivering services and other activrties undertaken to hjrther the purposes of Ihe charty and their associated support costs. Other expendrture represents those rtems not falling into any other heading. lffecover8ble VAT is ¢harged as a ¢o$i 8gain$i the adivity for which Ihe expendi¢ure was in¢urred. gl Allocatlon of 8UPPOrt cos1• Support costs are those functions thal assisl the work of Ihe charity but do not direclty undertake charitable activities. Support ¢osls indude back oifice costs. finan¢e. ptrrsonnel. payroll 8nd governanc& ¢o$l$. Thtrsg costs have been allocated bebveen co8t ol r8ising ftjnds and expendilure on charitable activrties. The bases on which support costs have been allocated a set out in note 2. hl Op•ratlng laa••8 Rent81 charges are ¢harged on a straight line basis over the lemi of Ihe lease. 11 Tanglble Ilxed as8e¢s Tangible fixed assets are inibalty recognised at cost. After recogni1. under the cost model,tangible fixed assets are measurèd at cost less accumulated deprèuation and any accumulated impaiment lossès. All ¢o$ts incurred to bring a tangible fixed asset into ils intended worting C4Jnditson shoukl be induded in the measurement of cost. Depreciatlon Is charged so as to allocate the cost of tangible fixed assets less Ih&ir r8sldual value ovèr their eslimaled useful lives, Depreciats'on is provided on the followng bases.. Fixtures and fittings Computef Èquipment 33% straight line 33% straighl line 11 Debtors Trade and other debtors arts recognised at the setllement amount due after any trad8 discount offèrèd. Prep8ymenls 8re valued al the amount prepaid nel of any Irade discoun15 due. kl Cash at bank and In hand Cash at bank and cash In hand indudes cash and short temi highty liquid investments with a short maturity of thm months or le$s from Ihè date of8r4uisrfion or opening of Ihè deposrt or similar a¢¢ounL 11 CdItorS and provisions Creditors and provisions a recognised where the charity has a present obligation Tesuth'ng from a past event that will probabty resuh in the transfer of funds to a third party and the amount due to settle the obligatson can measured or estlrn8ted reliabty. Credttor5 and provisions are normalty recogni5ed * their settlernent amount after allowing for any trade discounts due. ml Flnanclal Instruments Basic finanaal instruments are inth.ally recognised at transaction value and subsequentty meaSUd at thelr settlement value wth the exception of bank loans which are 5ubsequentty measured at amortlS8d cost Using Ihe effective interest method. Page18
Mizrachi {UKI Notes to the financial statements For the ear ended 31 December 2024 Analy$i$ of expendilurE Support & Charitable Goveman aclniths costs Basis of al(K3tion FuTh1tsisiNJ 2024 Total 2023 Totsl Accountancy Fee Sundry Expense Direcl Direcl 1,350 35 1,385 Support Costs Total expendlture 2024 Total exnditure 2023 1,385 1.385 Ofthe total exp8ndrture, £NI was unrestwthd12023 £1.3851 and £Nil was tl#eI2023 £NIll- Not In¢omp I 1•yr11¢UTfr> for th•y Thi$ 1$ staled after ¢har9ing I Irjedrfingl". Independent ex8min81ion 2024 2023 1,35D Tru¥tou' romuneratlon and expen¥ During th? year. no Trustees recewed any reMUraOn or other t4nefit512023- £NILI. Dufing the year onded 31 De¢mb¢r 2024, no Tw$i¥ exn$?$ h¥ve tyoen curred(2D23. £NILI. Taxatlon The tharity is exernpt from corpora.0 tax as 81 rts InC£ff is i*aritsbl8 and is for ehantable purposos. Cr•dltor•'. amounts fallln9 du• wlthln on• y••r 2024 2023 Accruals and deferred Inojmg 3,360 3,360 3.360 3.360 Page19
Mizrachi {UK) Notes to the financial statements For the ear ended 31 Decernber 2024 7 Analysis of n8t aSS8ts b8tw8en funds Unrestricted Restricted Total funds Current assets Ciedit015 due within one year Net assets at the end ol the yèar 598 3.360 2.762 598 3.360 2.762 Analysls of net assets between funds 2023 (previous year for comparison) General Restricted Total Current assets Creditors due within one year Net assets at the end of the year 598 3.360 598 3,360 2,762 8 Movement¥ In funds At31 Transfers D•eember 2024 January 2024 Income Expenditu General Fund 12,7621 12,7621 Totsl fund8 Movements in funds 2023 (previous year for comparisonl A11 January 2023 At31 D•Camr 2023 Income Expenditu Transfers General Fund 11,3771 11.3851 12,7621 Total fund8 9 R•lat•d paity tran8actlorb8 The Charitable Incorporated Organisation has nol entered inlo any related party Iransaction during the year. nor are there any outstsnding balan¢e$ wng betren lated p8rtj.trs and the Chaiitablo Incorporate(J Organisation at 31 December 2024. Page | 10