CHARITY REGISTRATION NUMBER: 1186335 ## **KKMG** Charitable Incorporated Organisation **UNAUDITED FINANCIAL STATEMENTS 30 NOVEMBER 2021** ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2021 TABLE OF CONTENTS** ||**Page**| |---|---| |Company information|3| |Trustees’ annual report|4-5| |Independent examiner’s report to the trustees|6| |Statement of comprehensive financial activities|7| |Statement of financial position|8| |Statement of cash flows|9| |Notes to the financial statements|10-13| 2 ||**KKMG**| |---|---| ||**ANNUAL REPORT AND FINANCIAL STATEMENTS**| ||**YEAR ENDED 30 NOVEMBER 2021**| ||**COMPANY INFORMATION**| |Name:|KKMG| |Legal form:|Charitable Incorporated Organisation| |Charity Registration number:|1186335| |Registered office:|4 Queens Way| ||London| ||NW4 2TN| |Trustees:|Gavriel Zeev Noe| ||Perri Noe| ||Samuel Levy| |Chair of Trustees:|Gavriel Zeev Noe| |Independent Examiner:|Shaya Grosskopf ACA| ||1g Accountants| ||71 Cheyne Walk| ||London| ||NW4 3QU| 3 ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2021 TRUSTEES’ ANNUAL REPORT (INCORPORATING DIRECTORS’ REPORT)** The trustees present their report and the unaudited financial statements of the charity for the year ended 30 November 2021. 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 2015). ## **TRUSTEES** During the year and up to the date of signing of this report the following individuals served as trustees of the Charity: - Gavriel Zeev Noe Perri Noe Samuel Levy ## **OBJECTIVES AND ACTIVITIES** The principal activity of the Charity is to advance the Orthodox Jewish religion for the public benefit by providing grants to synagogues and other religious institutions to support public prayer, celebration of religious festivals, religious education and the relief of poverty. ## **PUBLIC BENEFIT** The trustees have given careful consideration to the Charity Commission's guidance on public benefit when setting the aims and objectives of the Charity. In particular, the Trustees consider how planned activities will contribute to the aims and objectives of the Charity. The Charity has no affiliation with any political organisation. ## **CHARITABLE ACTIVITIES** During the year the charity made grants of £11,125 to 40 different charities, analysed as follows: |Welfare, medical, counselling, and alleviation of poverty:|£3,129| |---|---| |Religious institutions:|£5,559| |Educational:|£2,437| 4 ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2021 TRUSTEES’ ANNUAL REPORT (continued)** ## **PLANS FOR FUTURE PERIODS** The trustees intend to invest the charity’s funds to provide an income sufficient to maintain grants at a similar level to the level of grants made this year. ## **FINANCIAL REVIEW** During the year the charity received a grant of £959,000 from the Reisel Trust, representing its entire income for the year (2020: no revenue). Expenditure was £12,557 (2020: no expenditure). The resulting net surplus was £946,443 (2020: no profit or loss). ## **RESERVES POLICY** It is the policy of the trustees to seek to maintain the reserves of the Charity by gaining investment income at a level sufficient to cover expenditure. At 30 November 2021 the Charity had reserves of £946,443 (2020: no reserves). The Trustees are conscious of the need to invest the Charity’s fund to produce investment income, in order to secure the activities of the Charity, and are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide for future financial stability and flexibility to fund charitable activities. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The company was established under a Governing Document which is its constitution. Day to day activities including grant making and investment decisions are made by the trustees. In the event of the company being wound up members are not required to contribute. The trustees' annual report was approved on 9 June 2022 and signed on behalf of the board of trustees by: ## **Gavriel Zeev Noe** ## **Trustee** 5 ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2021 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES** I report to the trustees on my examination of the financial statements of KKMG (‘the Charity’) for the year ended 30 November 2021. ## **Responsibilities and basis of my report** As the Charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention which give me reason to be believe that: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - The accounts do not accord with such records; or - the accounts did 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. ## Shaya Grosskopf Shaya Grosskopf ACA 1g Accountants Chartered Accountants 71 Cheyne Walk London NW4 3QU 9 June 2022 6 ## **KKMG** ## **ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **YEAR ENDED 30 NOVEMBER 2021 STATEMENT OF COMPREHENSIVE FINANCIAL ACTIVITIES** ||**Note**|**2021**||**2021**||**2021**||**2020**| |---|---|---|---|---|---|---|---|---| |||**Restricted**||**Unrestricted**||**Total**||**Total**
**funds**| |||**£**||**£**||**£**||**£**| |**Income**||||||||| |Grants||-||959,000||959,000||-| |**Total income**|4
**-**|||**959,000**||**959,000**||**-**| |||||||||| |**Expenditure**||||||||| |Expenditure on charitable
activities||-||11,125||11,125||-| |Expenditure on governance costs||-||1,407||1,407||-| |Finance costs||-||25||25||-| |**Total expenditure**|5
**-**|||**12,557**||**12,557**||**-**| |||||**946,443**||**946,443**||**-**| |**Total comprehensive surplus for**
**the year and movement in funds**||||||||| |Funds brought forwards||-||-||-||-| |**Total funds carried forwards**|**-**|||**946,443**||**946,443**||**-**| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 7 ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2021 STATEMENT OF FINANCIAL POSITION** |Note
**Current assets**
Cash at bank and in hand
**Total current assets**
**Creditors: amounts falling due with one year**
8
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Funds of the charity**
Unrestricted funds
**Total charity funds**|2021
£
947,823
**947,823**
(1.380)
**946,443**
946,443
**946,443**
946,443
**946,443**|2020
£
-| |---|---|---| |||**-**
-| |||**-**
-| |||**-**| |||-| |||**-**| These financial statements were approved by the board of trustees and authorised for issue on 9 June 2022 and are signed on behalf of the board by: ## **Gavriel Zeev Noe** ## **Trustee** The notes on pages 10 to 13 form part of the financial statements. 8 ## **KKMG** ## **ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **YEAR ENDED 30 NOVEMBER 2021 STATEMENT OF CASH FLOWS** ||Note|Note|**2021**||2020|| |---|---|---|---|---|---|---| ||||**£**||£|| |**Cash flows from operating activities**||||||| |Net cash flows from operating activities|A||947,823||-|| |**Change in cash and cash equivalents in the**
**financial year**|||**947,823**||**-**|| |**Cash and cash equivalents at 1 December**|||**-**||**-**|| |**Cash and cash equivalents at 30 November**|||**947,823**||**-**|| |Note A: Reconciliation of net income to net cash flows from operating activities.||||||| ||||**2021**||2020|| ||||**£**||£|| |**Net income during the financial year**|||946,443||-|| |Adjustments for||||||| |Increase in creditors|||1,380||-|| |**Net cash provided by operating activities**|||**947,823**||**-**|| 9 ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2021 NOTES TO THE FINANCIAL STATEMENTS** ## **1. General Information** The Charity is a Charitable Incorporated Organisation, registered in England and Wales. The registered address is 4 Queens Way, London, NW4 2TN. Members have no liability in the event of the charity being liquidated. ## **2. Statement of compliance** The financial statements have been prepared in compliance with FRS102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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 (Charities SORP (FRS 102) and the Companies Act 2006. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis. The financial statements are prepared in pound sterling, which is the functional currency of the Charity. ## **Going concern** In the opinion of the Trustees there are no material uncertainties about the Charity’s ability to continue its operations as a going concern. ## **Disclosure exemption** The Charity qualifies for and has taken advantage of the exemption available under paragraph 1.12 of FRS102 from presenting a cash flow statement. ## **Key judgements and estimates** In the opinion of the Trustees there were no significant areas of judgement or estimate engaged when preparing the financial statements. ## **Fund accounting** The charity’s assets are split between unrestricted funds, which are available for use at the trustee’s discretion in furtherance of the Charity’s objectives, and restricted funds, which are subject to specific conditions by donors as to how they may be used. Further details on the Charity’s restricted fund are presented in note 12 to the financial statements. All income and expenditure in the year was considered to be unrestricted funds. 10 ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2021 NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **Incoming resources** Incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that economic benefits will pass to the charity; and that benefit can be reliably quantified. ## **Resources expended** Expenditure is recognised on an accrual basis when incurred and is inclusive of value added tax. ## **Financial instruments** Basic financial instruments, being most current assets and liabilities, are measured at the cash or other consideration expected to be paid or received. Financing transactions are measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. ## **4. Income** As set out in the Trustees’ report, grant income represented a grant made by the Reisel Trust, a UK registered charity, of £959,000. No other income was received in the current or prior year. 11 ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **YEAR ENDED 30 NOVEMBER 2021** ## **NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **5. Expenses** |||**2021**|||**2021**||**2021**||**2020**| |---|---|---|---|---|---|---|---|---|---| |||**Restricted**
**funds**|||**Unrestricted**
**funds**||**Total**
**funds**||**Total**
**funds**| |||**£**|||**£**||**£**||**£**| |**Expenditure on charitable activities**|||||||||| |Grants paid||-|||11,125||11,125||-| |**Total expenditure on charitable**
**activities**||**-**|||**11,125**||**11,125**||**-**| |**Governance costs**|||||||||| |Accountancy and independent
examiner’s fees||-|||1,200||1,200||-| |Bookkeeping costs||-|`||180||180||-| |General expenses||-|||27||27||-| |**Total expenditure on governance**
**costs**||**-**|||**1,407**||**1,407**||**-**| |**Finance costs**||**-**|||**-**||**-**||**-**| |Bank charges||-|||25||||**-**| |**Total expenditure on finance costs**||||**25**|||||**-**| |**Total expenditure**||**-**|||**12,557**||||**-**| ## **6. Staff costs** The average number of staff employed by the Charity during the year was 0 (2020: 0). 12 ## **KKMG ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **YEAR ENDED 30 NOVEMBER 2021 NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **7. Net surplus** Net surplus is stated after charging: |Net surplus is stated after charging:||| |---|---|---| |Fees payable for the independent
examination of the financial
statements
**Creditors: amounts falling due with one year**
Accruals|**2021**
**£**
**1,200**
**2021**
**£**
**1,380**
**1,380**|2020
£
-
2020
£
-| |||-| ## **8. Creditors: amounts falling due with one year** ## **9. Transactions with trustees and related parties** No trustee drew remuneration or expenses in the current or prior reporting period. Included within other grants was an amount of £278 (2020: nil) paid to Shabbat Walk, a UK registered charity of which Perri Noe is a trustee. 13