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2025-04-30-accounts

Charity registration number 1187814 (England and Wales)

FRIENDS OF MIR

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FRIENDS OF MIR

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr B Bodner Mr M Bordon Mr R E Hochhauser Charity number 1187814 Principal address 30 Gresham Gardens London NW11 8PB Auditor Landau Morley LLP 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

FRIENDS OF MIR

CONTENTS

Page
Trustees' report 1 - 3
Independent auditor's report 4 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 15

FRIENDS OF MIR

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 APRIL 2025

The trustees present their annual report and financial statements for the year ended 30 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "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

The primary object of the charity is to raise funds for and make grants to the Mirrer Yeshivah, Jerusalem, which is the largest Talmudical collage in the world with almost 8,000 students. The funding provided by the charity each year helps to ensure that Yeshivah is able to continue to function.

The objective is achieved through the collection of donations from individuals, trusts and companies and through the heightening of public awareness of he charity and the Yeshivah.

Since the primary object of the charity is to make grants to Yeshivah, that activity fulfils its legal purpose.

The trustee's strategy is to raise funds principally from interested parties who will be typically alumni, parents of the present students or parents of alumni and other individuals, trusts and companies who have an interest in promoting the study of Talmud. Funds are raised through direct appeals or by holding events to which potential supporters are invited.

The Trustees measure their success by comparing the amounts raised from year to year.

The grant making policy of the trust is to remit funds to the Mirrer Yeshivah when these accumulate to a significant amount. On occasions, a specific request for the funds is received from the Yeshivah and such requests are carefully considered by the trustees.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

During the year, the charity raised funds totalling £1,321,688 (2024: £810,557) in order to support the Mirrer Yeshivah in Jerusalem.

Funds amounting to £1,108 785 (2024: £828,000) were remitted to the Yeshivah in accordance with the objectives of the charity.

The trustees are satisfied with the charity's achievements during the year.

Financial review

The income of the charity for the year amounted to £1,321,688 (2024: £810,557) and grants to the Mirrer Yeshivah amounted to £1,108,785 (2024: £828,000).

Grants made are dependent upon the level of income and the trustees wish to thank all those who contributed so generously during the year and whose contributions have made a material difference to the running of the Mirrer Yeshivah.

Going concern

The Trustees are confident that the charity will be able to raise sufficient funds to cover the current level of expenditure for the next twelve months. The Trustees believe the charity has no going concern issues and will continue to evaluate the situation on an ongoing basis.

FRIENDS OF MIR

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. At the year end the charity had free reserves totalling £70,560 (2024: £22,344).

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

There have been no significant events affecting the Charity since the year end and no major future developments in the activities of the Charity are anticipated.

Structure, governance and management

The charity is governed by its constitution dated 7 February 2020. It is a registered charity, number 1187814.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr B Bodner

Mr M Bordon

Mr R E Hochhauser

Recruitment and appointment of trustees

The trustees determine the general policy of the charity and are responsible for its day to day running. They meet regularly to assess the payment of grants.

As and when the trustees deem it advisable to add to their body, new trustees are recruited from personal contacts of the existing trustees. The induction and training of trustees is carried out by the existing trustees utilising their knowledge and experience.

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

FRIENDS OF MIR

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

Mr M Bordon

Trustee

4 December 2025

FRIENDS OF MIR

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF FRIENDS OF MIR

Opinion

We have audited the financial statements of Friends of Mir (the ‘charity’) for the year ended 30 April 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

FRIENDS OF MIR

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF FRIENDS OF MIR

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations - this responsibility lies with management with the oversight of the directors.

The extent to which our procedures can detect irregularities, including fraud, is detailed below.

FRIENDS OF MIR

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF FRIENDS OF MIR

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organized schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

For and on behalf of Landau Morley LLP, Statutory Auditor Chartered Accountants 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX 5 December 2025

Landau Morley LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

FRIENDS OF MIR

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 APRIL 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 1,321,688 810,557
Total income 1,321,688 810,557
Expenditure on:
Raising funds 4 147,880 -
Charitable activities 5 1,125,592 837,804
Total expenditure 1,273,472 837,804
Net income/(expenditure) and movement in funds 48,216 (27,247)
Reconciliation of funds:
Fund balances at 1 May 2024 22,344 49,591
Fund balances at 30 April 2025 70,560 22,344

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

FRIENDS OF MIR

BALANCE SHEET

AS AT 30 APRIL 2025

Notes
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
The funds of the charity
Unrestricted funds
14		 2025
£
4,345
71,303
75,648
(5,088)		 £
70,560
70,560
70,560		 2024
£
5,323
22,301
27,624
(5,280)		 £
22,344
22,344
22,344

The financial statements were approved by the trustees on 4 December 2025

Mr M Bordon Trustee

FRIENDS OF MIR

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2025

2025
Notes
£
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
16
Net cash used in investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
£
£
49,003
(24,228)
-
-
-
-
49,003
(24,228)
22,301
46,529
71,304
22,301

FRIENDS OF MIR

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

1 Accounting policies

Charity information

The charity is registered as a CIO in England and Wales. The address of the principal office is 30 Gresham Gardens, London, NW11 8PB.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

FRIENDS OF MIR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

1 Accounting policies

(Continued)

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

FRIENDS OF MIR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

4
5		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
1,321,688
810,557
Raising funds
Unrestricted
Total
funds
2025
2024
£
£
Fundraising and publicity
Fundrasing dinner costs
147,880
-
147,880
-
Charitable activities
2025
2024
£
£
Grant funding of activities (see note 6)
1,108,785
828,000
Share of support costs (see note 7)
12,031
4,524
Share of governance costs (see note 7)
4,776
5,280
1,125,592
837,804		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
1,321,688
810,557
Raising funds
Unrestricted
Total
funds
2025
2024
£
£
Fundraising and publicity
Fundrasing dinner costs
147,880
-
147,880
-
Charitable activities
2025
2024
£
£
Grant funding of activities (see note 6)
1,108,785
828,000
Share of support costs (see note 7)
12,031
4,524
Share of governance costs (see note 7)
4,776
5,280
1,125,592
837,804
Total
2024
£
-
-
2024
£
828,000
4,524
5,280
837,804

FRIENDS OF MIR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

6 Grants payable

2025
£
Grants to institutions:
Yeshivas Mir Yerushalayim
1,108,785
7
Support costs
Support
costs
Governance
costs
2025Support costs Governance
costs
£
£
£
£
£
Exchange (gains)/losses
(409)
-
(409)
112
-
Advertising and PPS
7,842
-
7,842
594
-
Bank charges
4,117
-
4,117
3,337
-
Insurance
481
-
481
481
-
Audit and accountancy
fees
-
4,776
4,776
-
5,280
12,031
4,776
16,807
4,524
5,280
Analysed between
Charitable activities
12,031
4,776
16,807
4,524
5,280
8
Net movement in funds
2025
£
The net movement in funds is stated after charging/(crediting):
Exchange (gains)/losses
(409)
Fees payable for the audit of the charity's financial statements
4,776		 2024
£
828,000
2024
£
112
594
3,337
481
5,280
9,804
9,804
2024
£
112
5,280

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

2025 2024
Number Number
Total - -

FRIENDS OF MIR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025

10 Employees

(Continued)

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Debtors

12
Debtors
Amounts falling due within one year:
Other debtors
13
Creditors: amounts falling due within one year
Accruals and deferred income		 2025
£
4,345
2025
£
5,088		 2024
£
5,323
2024
£
5,280

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.

At 1
General funds
Previous year:
At 1
General funds		 May 2024
Incoming
resources
Resources
expended
At 30 April
2025
£
£
£
£
22,344
1,321,688
(1,273,472)
70,560
May 2023
Incoming
resources
Resources
expended
At 30 April
2024
£
£
£
£
49,591
810,557
(837,804)
22,344

15 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

FRIENDS OF MIR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

16
Cash generated from/(absorbed by) operations
Surplus/(deficit) for the year
Movements in working capital:
Decrease in debtors
(Decrease)/increase in creditors
Cash generated from/(absorbed by) operations
17
Analysis of changes in net funds		 2025
2024
£
£
48,216
(27,247)
979
2,839
(192)
180
49,003
(24,228)

The charity had no material debt during the year.