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2023-03-31-accounts

Trustees’ Annual Report for the period

From 1 April 2022 To 31 March 2023

Period start date Period end date

Charity name: MAKOR HAYIM

Charity registration number:1188960

Objectives and Activities

SORP reference
Summary of the
purposes of the charity
as set out in its
governing document		 Para 1.17 The advancement of Judaism in the
North West London area in particular
but not exclusively by the provision
and maintenance of facilities for
public worship and the provision of
classes in Hebrew and religion.
To advance such other charitable
purposes as the elected officers may
determine and as are recognised by
the laws of England and Wales
Summary of the main
activities in relation to
those purposes for the
public benefit, in
particular, the activities,
projects or services
identified in the
accounts.		 Para 1.17 and
1.19		 Provision of religious services,
education classes, outreach to
members, supporting other local
charities.
Statement confirming
whether the trustees
have had regard to the
guidance issued by the
Charity Commission on
public benefit		 Para 1.18 The trustees have had regard to the
guidance issued by the Charity
Commission on public benefit

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference The charity does not make grants. Para 1.38 Policy on grant making Not applicable Para 1.38

Policy on social
investment including
program related
investment
Contribution made by
volunteers		 Para 1.38 More than 60 volunteers contributed
to the activities of the community
during the year
Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the
charity, identifying the
difference the charity’s
work has made to the
circumstances of its
beneficiaries and any
wider benefits to society
as a whole.		 Para 1.20 In July 2022, we were able to
establish bank accounts for Makor
Hayim and our Builders began to pay
their membership fees to Makor
Hayim. Over the course of the period,
Makor Hayim entered into
arrangements with suppliers and is
making payments too. Our net
surplus was £9,233 for the period to
31 March 2023 and our cash position
at that date was £20,420.
We have invested a substantial
amount of time and money in
designing and building our database
using Beacon CRM. This database is
very highly rated by its clients and is
easy to use. We see it as a good way
to enhance our organisational
memory, to automate tasks
(especially for third party reports)
and to improve our processes, so that
we can become more productive.
Following a lengthy period of data
input and data updating and checking
we are now making regular and
frequent use of Beacon. This is
integrated with our bank payment
providers and with our accounts
package. We shall need to do more
training and become more familiar
with it to become really effective
users.

For much of the year we were without an operations manager and essential work was carried out by dedicated and hard working volunteers, to whom we owe our thanks. Since the financial year end, the Charity Commission has approved the transfer of the assets and liabilities of Shir Hayim to Makor Hayim. The transition of operations from Shir Hayim to Makor Hayim will be completed by end-December 2023, following which Makor Hayim will be the successor to Shir Hayim and Shir Hayim will then close. The Charity Commission also authorised Makor Hayim to provide limited indemnities to the trustees of Shir Hayim.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41 n/a
Performance of
fundraising activities
against objectives set		 Para 1.41 n/a
Investment performance
against objectives		 Para 1.41 n/a
Other

Financial Review

Financial Review
Review of the charity’s
financial position at the
end of the period		 Para 1.21 Our net income (and cash) was
£9,233 for the period to 31 March
2023.
Statement explaining the
policy for holding
reserves stating why
they are held		 Para 1.22 With the transfer of the undertakings
of Shir Hayim to Makor Hayim, our
policy will be to maintain reserves
equivalent to eight months operating
expenses to ensure that in the event
of any unforeseen circumstances, it
has sufficient financial resources to
continue.
Amount of reserves held Para 1.22 Not yet applicable
Reasons for holding zero
reserves		 Para 1.22 n/a
Details of fund materially
in deficit		 Para 1.24 n/a
Explanation of any
uncertainties about the
charity continuing as a
going concern		 Para 1.23 n/a

Additional information (optional) You may choose to include further statements where relevant about:
The charity’s principal
sources of funds
(including any
fundraising)		 Para 1.47 Principal sources of funds are
members fees and donations.
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46 We place our surplus funds on deposit
with a leading UK bank.
A description of the
principal risks facing the
charity		 Para 1.46 The principal risk facing the charity
would be a failure to raise sufficient
funds to cover the operating costs.
We are in the process of preparing a
full risk assessment. We have
developed and implemented relevant
policies to address the risks we have
identified.
Other n/a

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing
document
(trust deed, royal
charter)		 Para 1.25 Constitution
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Charity registered with the Charity
Commission as a Charitable
Incorporated Organisation
Trustee selection
methods including details
of any constitutional
provisions e.g. election
to post or name of any
person or body entitled
to appoint one or more
trustees		 Para 1.25 Individual trustees are appointed at
each annual general meeting of
members, in accordance with the
constitution.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51 The trustees provided an induction
programme for new trustees during
the year.
The charity’s
organisational structure
and any wider network
with which the charity
works		 Para 1.51 The charity is a member of the
Movement for Reform Judaism
Relationship with any
related parties		 Para 1.51 Not applicable
Other

Reference and Administrative details

Charity name Makor Hayim
Other name the charity
uses		 Shir Hayim- Hampstead Reform Jewish Community
Registered charity 1091151
number
Charity’s principal 56 Milverton Road London NW6 7AP
address

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for
whole year
Na
me
of
per
son
(or
bod
y)
enti
tled
to
app
oint
trus
tee
(if
any
)
Martin Dives Chair
Daniel
Mackintosh		 Vice-Chair &
Treasurer
Lois George Treasurer Resigned 17 Apr 2023
Marco
Schneebalg
Rachel
Diamond-Hunter
Sam Glatman
Stephanie Brada Resigned 1 Jun 2023
Resigned Nov 2022
Adam Rossano
Allison Zionts Resigned Nov 2022

Corporate trustees – names of the directors at the date the report was approved Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets n/a held in this capacity

Name and objects of the n/a charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements n/a for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) William Martin Dives Position (eg Chair Secretary, Chair, etc) Date 20 November 2022

Charity number: 1188960

MAKOR HAYIM

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

MAKOR HAYIM

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 9

MAKOR HAYIM

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees Martin Dives, Chair Lois George, Trustee Marco Schneebalg, Trustee (appointed 26 June 2022) Rachel Diamond-Hunter, Trustee (appointed 26 June 2022) Samuel Glatman, Trustee (appointed 26 June 2022) Daniel Mackintosh, Trustee (appointed 20 November 2022)

Charity registered number 1188960 Principal office 56 Milverton Road London NW6 7AP

Accountants Nyman Libson Paul LLP Chartered Accountants Regina House 124 Finchley Road London NW3 5JS

Page 1

MAKOR HAYIM

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of Makor Hayim for the year 1 April 2022 to 31 March 2023.

Objectives and activities

a. Policies and objectives

Advancement of Judaism in the north west London area by the provision and maintenance of facilities for public worship and the provision of classes in Hebrew and religion.

To advance such other charitable purposes as the trustees may determine and as are recognised by the laws of England and Wales.

TIn setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)

Achievements and performance

a. Review of activities

This review should be read in conjunction with the Review of activities of Shir Hayim, which will become Makor Hayim’s predecessor organisation.

In July 2022, we were able to establish bank accounts for Makor Hayim and our Builders began to pay their membership fees to Makor Hayim. Over the course of the period, Makor Hayim entered into arrangements with suppliers and is making payments too. Our net income was £9,233 for the period to 31 March 2023.

We have invested a substantial amount of time and money in designing and building our database using Beacon CRM. This database is very highly rated by its clients and is easy to use. We see it as a good way to enhance our organisational memory, to automate tasks (especially for third party reports) and to improve our processes, so that we can become more productive. Following a lengthy period of data input and data updating and checking we are now making regular and frequent use of Beacon. This is integrated with our bank payment providers and with our accounts package. We shall need to do more training and become more familiar with it to become really effective users.

For much of the year we were without an operations manager and essential work was carried out by dedicated and hard working volunteers, to whom we owe our thanks.

Since the financial year end, the Charity Commission has approved the transfer of the assets and liabilities of Shir Hayim to Makor Hayim. The transition of operations from Shir Hayim to Makor Hayim will be completed by end-December 2023, following which Makor Hayim will be the successor to Shir Hayim and Shir Hayim will then close. The Charity Commission also authorised Makor Hayim to provide limited indemnities to the trustees of Shir Hayim.

We pay tribute to the founders of Shir Hayim more than 30 years ago, including Michael and Gay Teper, Roger Robinson and Lois George and to the long serving Rabbi Larry Tabick, all of whom are Builders of Makor Hayim. Their vision, hard work, generosity and unswerving commitment have left a wonderful legacy that the Builders of Makor Hayim, the successor organisation, continue to appreciate and to build on their legacy.

Page 2

MAKOR HAYIM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b. Reserves policy

The charity are seeking to ensure that going forward reserves held are equivalent to at least 3 months operating expenses to ensure that in the event of any unforeseen circumstances, it has sufficient financial resources to continue.

Reserves held at 31 March 2023 were £9,233

c. Principal funding

Principal sources of funds are members fees and donations.

d. Material investments policy and principal risks

The principal risk facing the charity would be a failure to raise sufficient funds to cover the operating costs.

Structure, governance and management

a. Constitution

Makor Hayim is a new charity, constituted as a Charitable Incorporated Organisation (CIO), charity number 1188960.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are appointed at the annual general meeting of members.

Page 3

MAKOR HAYIM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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.

Approved by order of the members of the board of Trustees on 17 December 2023 and signed on their behalf by:

Martin Dives

Page 4

MAKOR HAYIM

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations and legacies
2
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
13,052
13,052
3,819
3,819
9,233
9,233
9,233		 Total
funds
2023
£
13,052
13,052
3,819
3,819
9,233
9,233
9,233

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 7 to 9 form part of these financial statements.

Page 5

MAKOR HAYIM

BALANCE SHEET AS AT 31 MARCH 2023

Note
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
5
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
6
Unrestricted funds
6
Total funds		 20,420
20,420
(11,187)		 2023
£
9,233
9,233
9,233
-
9,233
9,233

The financial statements were approved and authorised for issue by the Trustees on 17 December 2023 and signed on their behalf by:

Martin Dives

The notes on pages 7 to 9 form part of these financial statements.

Page 6

MAKOR HAYIM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Makor Hayim meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.3 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.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

1.4 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.5 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Page 7

MAKOR HAYIM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies (continued)

1.6 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.7 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

2. Income from donations and legacies

Unrestricted Total
funds funds
2023 2023
£ £
Donations 13,052 13,052

3. Analysis of expenditure by activities

Activities
undertaken Support Total
directly costs funds
2023 2023 2023
£ £ £
Direct and support costs 2,476 1,343 3,819

4. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits.

During the year ended 31 March 2023, no Trustee expenses have been incurred£.

Page 8

MAKOR HAYIM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Creditors: Amounts falling due within one year

Trade creditors
Accruals and deferred income		 2023
£
1,755
9,432
11,187

6. Statement of funds

Statement of funds - current year

Balance at
31 March
Income Expenditure 2023
£ £ £
Unrestricted funds
General Funds - all funds 13,052 (3,819) 9,233

7. Analysis of net assets between funds

Analysis of net assets between funds - current year

Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
20,420
(11,187)
9,233		 Total
funds
2023
£
20,420
(11,187)
9,233

Page 9