REGISTERED CHARITY NUMBER: 1180817
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
CHASDEI MENDEL CHAIM
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
CHASDEI MENDEL CHAIM
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
CHASDEI MENDEL CHAIM
REPORT OF THE TRUSTEES for the year ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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
Objectives and aims
The objects of the charity are to relieve poverty or financial hardship of poor brides and bridegrooms living anywhere in the world by making grants of money towards the costs of their wedding expenses or by paying for items, services and/or facilities they require when establishing their homes.
Public benefit
The trustees referred to the guidance contained in the Charity Commission's general guidance on public benefit, when reviewing the aim and objectives and in planning the charity's future activities, and setting the grant making policy for the year.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charitable incorporated organisation.
All applications receive the fullest and most careful consideration.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the period the charity received donations of £38,811 and made grants of £26,082 to institutions and of £14,284 to individuals.
The trustees are satisfied with the results and activities of the charity for the year and do not anticipate any significant changes in the forthcoming year.
FINANCIAL REVIEW
Financial position
The financial results of the charity's activities for the period ended 31 December 2022 are fully reflected in the attached financial statements together with the notes thereon.
There was a net decrease in funds of £3,603 with total funds carried forward being £7,619.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which include the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely costs of the charity for the next year. The free reserves at the year end were £7,619. The trustees have not undertaken any formal charitable commitments and consider that the charity can rely on its ongoing support from its donors to to fund its ongoing communal activities.
FUTURE PLANS
There are no current plans to change the activities or modus operandi in the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
CHASDEI MENDEL CHAIM
REPORT OF THE TRUSTEES for the year ended 31 December 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed, in particular those related to the operations and finance of the charity, and are satisfied that systems are in place to manage those risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1180817
Principal address
22 Heathland Road London N16 5NH
Trustees
Mr Y M Cohen Mr C Y Tunk Mr D Marmorstein
Independent Examiner
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
Approved by order of the board of trustees on 11 October 2023 and signed on its behalf by:
Mr Y M Cohen - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHASDEI MENDEL CHAIM
Independent examiner's report to the trustees of Chasdei Mendel Chaim
I report to the charity trustees on my examination of the accounts of Chasdei Mendel Chaim (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Yedidya A Zaidan
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
11 October 2023
Page 3
CHASDEI MENDEL CHAIM
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 December 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 38,811 Investment income 3 - Total 38,811 EXPENDITURE ON Charitable activities 4 Expenditure on charitable activities 42,414 NET INCOME/(EXPENDITURE) (3,603) RECONCILIATION OF FUNDS Total funds brought forward 11,222 TOTAL FUNDS CARRIED FORWARD 7,619 |
2021 Total funds £ 71,782 1 71,783 102,060 (30,277) 41,499 11,222 |
|---|---|
The notes form part of these financial statements
Page 4
CHASDEI MENDEL CHAIM
BALANCE SHEET
31 December 2022
| 2022 Unrestricted fund Notes £ CURRENT ASSETS Debtors 8 8,000 Cash at bank 3,481 11,481 CREDITORS Amounts falling due within one year 9 (3,862) NET CURRENT ASSETS 7,619 TOTAL ASSETS LESS CURRENT LIABILITIES 7,619 NET ASSETS 7,619 FUNDS 11 Unrestricted funds 7,619 TOTAL FUNDS 7,619 |
2021 Total funds £ 7,700 6,017 13,717 (2,495) 11,222 11,222 11,222 11,222 11,222 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 October 2023 and were signed on its behalf by:
Mr Y M Cohen - Trustee
The notes form part of these financial statements
Page 5
CHASDEI MENDEL CHAIM
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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.
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.
Governance costs
Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the Independent Examiner's fees and costs linked to the strategic management of the charity.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
| Independent examiner's fees | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Independent Examiner's and accountancy fees | 1,440 | 1,440 |
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continued...
CHASDEI MENDEL CHAIM
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022
| 2. DONATIONS AND LEGACIES Donations 3. INVESTMENT INCOME Deposit account interest 4. CHARITABLE ACTIVITIES COSTS Grant funding of activities Grants to institutions Grants to individuals 5. GRANTS PAYABLE Expenditure on charitable activities The total grants paid to institutions during the year was as follows: Low Cost Living Other grants below £5,000 The total grants paid to individuals during the year was as follows: Grants payable to individuals |
2022 £ 38,811 2022 £ - |
2022 £ 38,811 2022 £ - |
2022 £ 38,811 2022 £ - |
2021 £ 71,782 2021 £ 1 |
2021 £ 71,782 2021 £ 1 |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||||
| £ | £ | |||||||||
| 26,082 | 76,934 | |||||||||
| 14,284 | 23,228 | |||||||||
| 40,366 | 100,162 | |||||||||
| 2022 £ 40,366 |
2021 £ 100,162 2022 £ 5,200 20,882 26,082 2022 £ 14,284 |
|||||||||
continued...
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CHASDEI MENDEL CHAIM
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2022
6. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Expenditure on charitable activities | 608 | 1,440 | 2,048 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 10) Other creditors LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts |
2022 £ 8,000 2022 £ - 3,862 3,862 2022 £ - |
2021 £ 7,700 |
|---|---|---|
| 2021 £ 72 2,423 |
||
| 2,495 | ||
| 2021 £ 72 |
9.
10. LOANS
continued...
Page 8
CHASDEI MENDEL CHAIM
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2022
11. MOVEMENT IN FUNDS
| At 1.1.22 £ Unrestricted funds General fund 11,222 TOTAL FUNDS 11,222 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 38,811 TOTAL FUNDS 38,811 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 41,499 TOTAL FUNDS 41,499 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 71,783 TOTAL FUNDS 71,783 |
Net movement At in funds 31.12.22 £ £ (3,603) 7,619 (3,603) 7,619 Resources Movement expended in funds £ £ (42,414) (3,603) (42,414) (3,603) Net movement At in funds 31.12.21 £ £ (30,277) 11,222 (30,277) 11,222 Resources Movement expended in funds £ £ (102,060) (30,277) (102,060) (30,277) |
|---|---|
continued...
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CHASDEI MENDEL CHAIM
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2022
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.21 | in funds | 31.12.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 41,499 | (33,880) | 7,619 |
| TOTAL FUNDS | 41,499 | (33,880) | 7,619 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 110,594 | (144,474) | (33,880) |
| TOTAL FUNDS | 110,594 | (144,474) | (33,880) |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
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