**REGISTERED CHARITY NUMBER: 1186335** **Report of the Trustees and** **Unaudited Financial Statements FOR THE YEAR ENDED 30 November 2023** **for KKMG** Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH **KKMG** **Contents of the Financial Statements FOR THE YEAR ENDED 30 NOVEMBER 2023** ||**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 8| **KKMG** ## **Report of the Trustees FOR THE YEAR ENDED 30 NOVEMBER 2023** The trustees present their report with the financial statements of the charity for the year ended 30 November 2023. 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 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. ## **Significant activities** The charity continued to see a good return on its investments and the trustees believe such investments will continue to bring in investment income for the foreseeable future, which will be used to pursue the charity's charitable objects. ## **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. ## **Grantmaking** Grants are made to charitable institutions, organisations and individuals after it has been satisfied that payments will accord with the objectives of the charity. ## **ACHIEVEMENT AND PERFORMANCE** ## **Internal and external factors** The charity has no staff or volunteers. ## **FINANCIAL REVIEW** ## **Investment policy and objectives** The charity holds investments in order to create income to further its charitable objectives. The trustees have reviewed the performance of these investments and consider it satisfactory. ## **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. Investment income during the year was £123,197 (2022: £55,810) which was sufficient to cover the charitable donations of £84,543 (2022: £55,669). As at 30 November 2023 the Charity had reserves of £1,713,894 (2022: £1,678,182). ## **FUTURE PLANS** The trustees intend to continue to provide grants to charitable organisations that further the charity's objectives for the benefit of the public. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1186335 ## **Principal address** 4 Queens Way London NW4 2TN Page 1 **KKMG** ## **Report of the Trustees** **FOR THE YEAR ENDED 30 NOVEMBER 2023** ## **Trustees** Mr G Z Noe Ms P Noe Mr S Levy ## **Independent Examiner** Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH Approved by order of the board of trustees on 9 September 2024 and signed on its behalf by: Mr G Z Noe - Trustee Page 2 **Independent Examiner's Report to the Trustees of KKMG** ## **Independent examiner's report to the trustees of KKMG** I report to the charity trustees on my examination of the accounts of KKMG (the Trust) for the year ended 30 November 2023. ## **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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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. Aryeh Melinek, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH 9 September 2024 Page 3 **KKMG** ## **Statement of Financial Activities** ## **FOR THE YEAR ENDED 30 NOVEMBER 2023** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Charitable activities
Relief of poverty
Religious institutions
Education
Relief of sickness
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|2023
Unrestricted
fund
£
-
123,197
123,197
1,417
1,525
13,202
17,375
43,701
10,265
87,485
35,712
1,678,182
1,713,894|2022
Total
funds
£
735,000
55,810
790,810
1,033
2,369
26,000
7,521
20,790
1,358
59,071
731,739
946,443
1,678,182| |---|---|---| The notes form part of these financial statements Page 4 **KKMG** ## **Balance Sheet 30 NOVEMBER 2023** |Notes
**FIXED ASSETS**
Investment property
7
**CURRENT ASSETS**
Debtors
8
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
**TOTAL FUNDS**|2023
Unrestricted
fund
£
129,307
1,539,000
47,087
1,586,087
(1,500)
1,584,587
1,713,894
1,713,894
1,713,894
1,713,894|2022
Total
funds
£
129,307
1,425,000
125,555
1,550,555
(1,680)
1,548,875
1,678,182
1,678,182
1,678,182
1,678,182| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 9 September 2024 and were signed on its behalf by: Mr G Z Noe - Trustee The notes form part of these financial statements Page 5 **KKMG** **Notes to the Financial Statements FOR THE YEAR ENDED 30 NOVEMBER 2023** ## **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. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **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. ## **2. INVESTMENT INCOME** |Rents received
Deposit account interest
Other interest|2023
£
6,385
-
116,812
123,197|2022
£
1,340
1
54,469
55,810| |---|---|---| continued... Page 6 **KKMG** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 NOVEMBER 2023** ## **3. RAISING FUNDS** ## **Investment management costs** |Insurance
Travel and subsistence
Advertising
**GRANTS PAYABLE**
Relief of poverty
Religious institutions
Education
Relief of sickness|2023
£
554
538
325
1,417
2023
£
13,202
17,375
43,701
10,265
84,543|2022
£
486
547
-
1,033
2022
£
26,000
7,521
20,790
1,358
55,669| |---|---|---| ## **4. GRANTS PAYABLE** The total grants paid to institutions during the year was £84,543 (2022: £55,669). A summary of grants made to institutions during the year is as follows: Name of institution Amount (£) Keren Hayeled Charitable Trust 10,000 Friends of Galanta 10,000 Friends of Beis Soroh Schnirer 10,000 Friends of Beis Chinuch Lebonos 7,200 Achisomoch Aid Company Ltd 5,500 Ohel Moshe Synagogue 5,000 One Heart - Lev Echod 5,000 Menorah Foundation 5,000 ETC Youth Ltd 5,000 Give Youth a Break 5,000 Hand in Hand Support 5,000 Other 11,843 Total 84,543 ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022. continued... Page 7 **KKMG** **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 NOVEMBER 2023** ## **6. STAFF COSTS** There were no staff costs for the year ended 30 November 2023 nor for the year ended 30 November 2022. ## **7. INVESTMENT PROPERTY** |**7.**
**INVESTMENT PROPERTY**||| |---|---|---| |**FAIR VALUE**
At 1 December 2022
and 30 November 2023
**NET BOOK VALUE**
At 30 November 2023
At 30 November 2022
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors|2023
£
1,539,000
2023
£
1,500|£
129,307
129,307
129,307
2022
£
1,425,000
2022
£
1,680| |||| ## **10. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 November 2023. Page 8