Charlty r•gl8tratlon numbor 1176288 CHASDEI MEIR ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
CHASDEI MEIR LEGAL AND ADMINISTRATIVE INFORMATION Tvusts Mr L Zelcer Mr S Kliers Mr M Engglman Charlty number 1176288 Registergd offl¢¢ 134 Kyverdale Road London N166PU Ind•p•ndent examiner Mr J Silver FCCA Precision Ltd 32 Castlewood Road London N166DW
CHASDEI MEIR CONTENTS Pdgo Trust8es' report Independent examinerfs report Statement of finandal acttIeS Balance sheet Notes lo the financial sta18menls
CHASDEI MEIR TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustee8 present thelr annu81 report and financiol statements for the year ended 31 December 2023. The financial statefflents have been prepared in accordance the accounting policies set out in note 110 the financial slalemenls ar comply wlh the ¢harlty's govoming document, the Charities Act 2011 and "Accountir4J and Reporting by Charities= Statement of Recommend8d Practicè applicabla to Charities preparing their accounts in accordance with the Flnancl81 Reportlng Standard applicab in the UK and Republi¢ of Ireland {FRS 1021. {eff8Ctive 1 January 20191. Objediv•s and actlvltl•s The chartiy's objects are Ihe advanment of the Orthodox JevAsh Rellglon, the advancement of Orthodox Jèwish odu¢ation and (he prevention and r81i8f of povety. In order to achieve these objectwes the charity provides grants to Orthodox J8Wtsh Houses of Worship. educational inslttulions, charitie5, indiwduals In need and other organisations working to prevent or relieve povety in Great BrS18in and 8broad. The trustees wnsider all requests whkh th&y receive and make donations based on thg levgl of fund8 av8llable. The trustees confirm that they have referred to the guidance conlainetj in the Chartiy Commlsslon's general guldance on publlc benefit when reviewng the charills aims and objecbves and In planning fuLura actbviti8s and setting grant making policy for the year. Achlovomenls and performanco The charity received £146.275 in donations durSng the year and £133.428 was paid out by way of grants and Support costs. During the year the charfty also assisted a synagogue wlth its running costs. The grants made were in line wth Ihe stsled 04.ects of the charity and were for educational and relief of poverty purposes. Flnan¢ial review Th& financial ptssiknon ol the charity 18 satisfactory. The charitls statement of financial adivilles shows total fre8 reserves of £12.558. 1115 the policy of the charity that unrestricted funds whi¢h have not been desSgnaled for a specific use should bg maintsined at a level which wll not impinge on ils ability to support Charitabl* instilvknons. Th8 trusl89s have assessed the major risks lo which the charity is exposed, and are sallsfled that systems are in place to mibgate exposure to the major risks. Strudure, governance and management Th8 charity is a Charitsble Incorporated Organisalion ar is controlled by its govgrning d¢xumgnl. 11 was registered as a charity on 14 D8¢ember 2017. Thè trustees WI s8rv9d during the ye8r and up lo the dat8 of 81gnalure of th8 financial statements were: Mr L Zelcer Mr S Kli8rs Mr M Engèlman The power lo appoint new trustees is v8818d in th8 current board.11 is not th8 intgnlion of the trustees of the charhy lo appolnt any Iruslees. Should the situation change in the future. the trustees 11 apply suitable induction and tr8lnSng procedures. Thè trustees administer the day to day running ol the charity. None of the truslges has any beneficial interest in the company. The trustees. report was approved by the Board of Trustees. Mr S Kllets Truste&
CHASDEI MEIR INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHASDEI MEIR I rew)rt to the trustees on my examination of the financial stslements of Chasdei Meir (the charity) for the yoar ended 31 December 2023. Responslbllltlos and bas15 of report As the trustees of the charity you are responsible for Ihè weparatl¢)n of the flnanclal statements In atcordance wNh the wquirements of th6 Charities Act 2011 (the 2011 Act). I report in respect of rny examination of the ¢haritys financial statemants carriod out under s8CtKJn 145 of th8 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under 8ecllon 14515llbl of the 2011 Act. Indendent •xaminerfs slatement Your attenllon Is drawn to the fact that the charity has prepared financi81 stalemants in accordance with Acunting and Reportlng by Charhlgs preparing their accovnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir81and IFRS 1021 in preference lo the A¢¢ounling and Reporung by Charftres.. Statement of Recommended Praclice issued on 1 4)ri12005 which is refeired to in the extant gUlationS bul has now been wlthdrawn. l undarstand that thi5 has been done In order for flnanclal stalaments to providg a tru8 and foir viaw In 8ccoYd8nc• wilh Generalty Accepted Accounting Praclsce effecbve for reporlirrfJ peri¢ds beginning on or after 1 January 2015. I have completed my examination. I confirm that no Matte have come lo my attentin In nneCtion th the 8xamination giving me cause to believe that in any material respect.. a¢xounting records were not kept in rgSPgCt of the charity as requlrèd by s•cllon 130 of thè 2011 Ad.. or the financial ststaments do not accord with those reoyds,. or the financial statements do not comply with the applS¢able requirgmants concerning thg form and ¢tent of accounts set ¢yJt in the Ch8ritl8$ (A¢Vnts and Reports) Regulations 2008 other than any requirement that the accounts gIVè 8 1rue and falr vlew which is not a matter considered as part of an independent examination. I havo no concems and have come across no other matters in connedion with the oxaminotion lo which attention shoutd be drawn in this rèport in ord8r to enabla 8 propar und8Tstsnding of the financial statements to bg rgachod. Mr J Sllwr FCCA Pre¢l$lon Ltd 32 Ca$tlgwood Road London N16 6DW
CHASDEI MEIR STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrutrlcted Unrestrlcted funds fund$ 2023 2022 Income from: Donations and legacies 146,275 68,903 Ex endltur• on: Charitable activities 133,428 71,279 Net incomellexpenditure) for tho yoarl Nel movement in funds 12,847 {2.376} Fund balan¢95 at 1 January 2023 1289) 2,087 Fund balan¢o$ at 31 D¢Mber 2023 12,558 {289} The statement of flnanclal a¢tSvitS98 Includes all gains arKI Ioss95 r9Gognisgd in the yoar. All in¢omg and exp8ndilur8 dedve from continuing actNf(ies.
CHASDEI MEIR BALANCE SHEET ASAT31 DECEMBER 2023 2023 2022 Current assets Cash al bank and Sn hand 14,358 5.221 Creditors: amounts falllng vAthln one year 10 (1.800) 15,510) Net wrrent assetsllliabilitie51 12,558 1289) In¢om• funds Unrestricted fvnds 12,558 1289} 12,558 {2891 The finand81 ststementswere approved bythe Trust on......................... ..tU&iis.... Mr S Kliers Trus1••
CHASDEI MEIR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting polKi•$ Charity inforniatlon Chasdoi Meir is a Charitable IncorporBt8d Organlsauon. 1.1 Accountlng conventlon The financlal slatements have been prepared in accordance with the charhy's Igoveming documenll, the Charfues Act 2011, FRS 102 'The Financial Reporting Standarij 8pplicable in the UK and Republic of Ireland- I"FRS 102.1 and the Charities SORP 'A¢¢ounling and Reporting by Charities.. Statement of Rocommended Practice appli¢8ble to charities preparing their 4c¢ounls in accordance wth the Financial ROpOn9 Standard applicable in Ihe UK and Republic of Ireland IFRS 1021" {effectlve 1 January 20191. The charity is a Public 80rit Entity a8 defined by FRS 102. The charity hos takw advantage of the provisions in th8 SORP lor charitips not to prepare a Stalomgnt of Cash Flows. The flnan¢Sal stalemgnts havo departed from the Charities (Accoun15 and Rewrts} Regulations 2008 only to th8 8Xt8nt required to provide a true and fair view. This departure has Involvgd following the Statement of Recommended Practice for chorities applying FRS 102 rather than th8 version of the Sl8tement of R8commended Practice which is referred lo in the Regulations but whid) h88 Sin been wthdrawn. The ffinancial statements are prgpared in sterling, whlch is the functional currenry of thg charmy. Monetary amounts in these financial stateménts ar8 round8d to the nearest £. The financial ststsmenls have been pr8P8red under the historical cost wnvèntion. The principal accounting polldes adopted are set out below. 1.2 Golng ¢on¢ern Al the tim8 of approving the flnancial ststements. the trustees havg a reasonabb 8xpectalon that tho charity has adequate resources to continue in opgrab"on81 exlstence for the for0s99able future, based on the continued support from the community. Thus Ihe trustee8 contlnue to adopl the going concem b8$i$ of a¢Unting in preparing the finarKial statements. 1.3 Ch•rltable fund¥ Unrestiicled funds are available for use al the dt8crelion of the trustees In furth8fanc8 of their ch8ri1able obIe¢lves. Restiicted funds are subAecl lo specific conditions by donors as to hr)w they may be used. The purposes and uses of the r8strict8d funds are set out in the notes lo the financial ststements. Endowment funds are subject to specC conditi'on$ by donors that the capital must be malntained by Ihè charity. 1.4 In¢¢mlng r980ur¢es Income is recognised when the charity is legally entitled to Ft after any performance conditions have bgen meL the amounts can b8 measured reliably. and it is probable that income 11 be recelved. Cash donallons are rg¢ognised on r8c8ipI. Other donations are recognised onc8 the charfty has been notffied of the donation, unlèss parf0mn¢8 conditions require deferral of the amounl. Inwme tsx recoverable in relalkjn to donations recenied under GtftAid or dee¢J$ of ¢ovenant is recognised al the tim8 of tho donation. Legacies are recognlsed on r6celpt or olherwise if the charity has been notlfled of an Impen¢Jlng distribution, thg arrK)unt is known. and receipt Is expected. K the amount 1$ not known, the legacy Is trèated as a conling8nt asset.
CHASDEI MEIR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting polici•s IContlnu•dl 1.5 Rosour¢os gxpendgd Expenditura is rècognisad on an accruaL8 basis as allability Is incurred. Expenditurè includes any VAT which cannot be fijlly recovered, and is dassified under headings of the statement of ffinanal ad1Vit to whiGh it relale5'. Expenditure on dwritabl8 activiligs inckjdes all o)sts in(xJrred by a charity in undertaking actwitfes that further its charitable aims for the nerrt of ils beneficiaries, includlng those Supp costs 8nd co819 relatlng to the gov8man¢o of th8 charity appOrtned to charitable adivities. 1.6 Cash and Cash equivaler Cash and cash equivalents include cash in hand, deposits held al call Imth banks, other short-term liquid inve$tm8nls with original maturities of thr8& months or18&8, and bank overdrafts. Bank overdrafts are shown wlthln bon)wlngs in current IlabSlltles. 8a$l¢ flnanclalassots Bosic financial assets, which include debtors and $b and bank balae$. are initially measured at transaction price including Iransactton costs and are subsequentty carried at amortised cost using th8 8ffe¢tive interest method unkss the arrangement conslitules a financing transactn, ere th¢ tran$oCt¢on is measured al the piesent value of the future receipts discounted #t a market rate of interest. Financial assats dassthed as r8ee1Vab wlthln one yèar are not amorti5e¢J. Baslc flnanclalllabllllle$ Basic financial liabilitie5, Includlng credllors and bank loans are inits'ally recognised at transaction price unless the arrang6ment constllut88 a financing transaction. wh&re the debt instrument is measured al th& presènt value of the futuro payments dlscounled at a marf(et ratg of Inlgrg$1. Flnandal IlablllUg$ classrfied as payabl& within one year are not amorb'sed. D9bt instruments ar& subsequently carrEd at amortised cost, using the effective interest rate melhod. Trade creditors are oblsgations to pay for goods or seNlc6s th8t have been acquired in the ordinary course of opèrations from suppliers. Amounts payabb are classffiad as current liabilities rf payment Is due wthln onè year or tess. If not. they are pres8nted as non-currenl Uabllities. Trade credltor8 are recognlsed initialty at trartsaction price and $eqUentIY measured at amortised cost u$ing Ihe effectfve Interest method. D•rncognltlon of fin4n¢ial li•bilitie$ FInanal liabilrt6&s are derecognised vthen Ihe charity's contractual obligations expire or aro dlscharged or C8n¢olled. Crlilcal accountlng estlmalos and ludgemonts Tho preparation of Ihe finan¢ial ststements did not require management lo makè judgements. eslimatos or assumptions that affect the amounts reported. Donation8 and leg•cle& Unrèstrictod Unrn*tricted funds funds 2023 2022 Donatlons and grfis 146,275 68,903
CHASDEI MEIR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ch•ritsbl• •diviti•¥ Charitablè Ch•rlt•ble Exp•ndltur• Expendtlurn 2023 2022 Synagoguo Costs 4,717 6.630 Grant funding of activities (see note 51 Share of govemance costs (see note 6 126.900 1,811 63.546 1.103 133,428 71,279 Grants payabl• Charltabl• Charilabl? Exp•ndlturn Expendltur• 2023 2022 Grants to institutions.. Mosdos BeerAvrohom Bois Aharon Trust Yad Vochessed Assoclat6tsn Ltd Agudas Achim Slonim Vaad Harabanim Linyonei Tzedokoh B8is Aharon rrActity Cenlre other 22.0(Y) 28.910 16,830 12.500 4.51JO 83.0(HJ 7.300 8.750 1.793 123,550 63.546 Grants to Indlviduals 3.350 126,900 63,546
CHASDEI MEIR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support ¢o$ts Support Govèrnance costs costs 2D23 21122 Accountancy Legal and professlonal Bank chargps 900 600 311 900 960 79 311 1.811 1,811 1,103 Analysed btheèn Charlt8ble actlvltles 1.811 1,811 1,103 Trustees None of the Iru81888 lor any persons connected with Iheml received any rèmuneration or beneffts from the tharity during the year. Emplayms The average monthly number ofemployees during th¢ year was.. 2023 Number 2022 Number Total There were no employees whose annual remuneration was more than £60.000. Taxatl¢)n The charity is exempl from tax on income and gains falling wilhin section 505 of the Taxes Act 1988 or so10n 252 of the Taxation of Chargeable Gains Act 1992 to the extent that thesa 8r6 appli8(i to its charitable objects. 10 Creditows: amounts falllng du• within one ye•r 2023 2022 Other creditors Accruals and deferred income 900 900 5,510 1,800 5,510 11 Rtlated party transactlons Thgre w8r8 no disclosable related party transaction5 during the year12022- none}-