CHARITY REGISTRATION NUMBER: 1193533
Manchester Jewish Meals on Wheels Unaudited Financial Statements 31 March 2023
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Manchester Jewish Meals on Wheels
Financial Statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Manchester Jewish Meals on Wheels
Trustees' Annual Report
Year ended 31 March 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Registered charity name Manchester Jewish Meals on Wheels Charity registration number 1193533 Principal office Rita Glickman House Bury Old Road Prestwich Manchester M25 0EX The trustees P A Langer M Livshin A Brodie Independent examiner Mr D Schwarz FCCA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
Manchester Jewish Meals On Wheels is a CIO and was registered with the Charity Commission on 15 February 2021 with a registered charity number 1193533.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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Manchester Jewish Meals on Wheels
Trustees' Annual Report (continued)
Year ended 31 March 2023
Objectives and activities
The objectives of the charity are the relief of the financial hardship, ill-health, old-age and disablement of people living in Greater Manchester either generally or individually through the provision of Kosher food or sustenance.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Achievements and performance
The charity provides meals for the needy, housebound or those unable to provide meals for themselves within the Jewish community of Greater Manchester. Although Manchester Jewish Meals on Wheels was registered in 2021, in practice the trustees and volunteers continue to maintain the aims and objectives of its predecessor - Manchester Jewish Soup Kitchen, which was established approximately 1896.
We continue to struggle to attract volunteers to assist with actual meal production. As a result, we obtain meals from an external source, resulting in a substantial and ever-increasing cost. We are now producing 5-6,000 meals annually and the small donations we receive from some of the recipients does not in any way meet these increases in our costs. UK food prices are rising at the fastest rate in over 40 years. Annual food and non-alcoholic drink Consumer Price Inflation is currently around 17% and in addition, packaging and energy prices have substantially increased and this is of course reflected in the day-to-day cost of maintaining the essential services of the charity.
We continue to pay a monthly tenancy for the retention of the kitchen and this needs to be reviewed in the coming financial year. We have also considered sharing the cost-burden with other similar charities, but to date these discussions have failed to deliver concrete results. We will continue to evaluate our meal production strategy. Given the above background, the trustees believe it would be prudent to continue to access all the charity's financial resources to fund the increased expenditure for our services.
All officials and helpers work in a voluntary capacity receiving no remuneration.
Financial review
As at 31 March 2023 the charity held reserves of £76,456 (2022- £88,706)
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the charity's policy to retain sufficient reserves in order that the charity should be self-sufficient and to generate enough income to support the charities annual activities.
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Manchester Jewish Meals on Wheels
Trustees' Annual Report (continued)
Year ended 31 March 2023
The trustees' annual report was approved on 22 May 2023 and signed on behalf of the board of trustees by:
A Brodie Trustee
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Manchester Jewish Meals on Wheels
Independent Examiner's Report to the Trustees of Manchester Jewish Meals on Wheels
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Manchester Jewish Meals on Wheels ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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
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 charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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 D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
22 May 2023
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Manchester Jewish Meals on Wheels
Statement of Financial Activities
Year ended 31 March 2023
| Period from | ||||
|---|---|---|---|---|
| 15 Feb 21 to | ||||
| Year to 31 Mar 23 | 31 Mar 22 | |||
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 20,050 | 20,050 | 20,069 |
| Investment income | 5 | 9,698 | 9,698 | 19,242 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 29,748 | 29,748 | 39,311 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 64,401 | 64,401 | 61,915 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 64,401 | 64,401 | 61,915 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net expenditure and net movement in funds | (34,653) | (34,653) | (22,604) |
|
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 697,951 | 697,951 | 720,555 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 663,298 | 663,298 | 697,951 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to Error! Bookmark not defined. form part of these financial statements.
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Manchester Jewish Meals on Wheels
Statement of Financial Position
31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 14 | 108 | 135 |
| Investments | 15 | 586,734 | 609,110 |
| -------------------------------- | -------------------------------- | ||
| 586,842 | 609,245 | ||
| Current assets | |||
| Debtors | 16 | 70,188 | 67,040 |
| Cash at bank and in hand | 7,318 | 29,675 | |
| ---------------------------- | ---------------------------- | ||
| 77,506 | 96,715 | ||
| Creditors: amounts falling due within one year | 17 | 1,050 | 8,009 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 76,456 | 88,706 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 663,298 | 697,951 | |
| -------------------------------- | -------------------------------- | ||
| Net assets | 663,298 | 697,951 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 663,298 | 697,951 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 18 | 663,298 | 697,951 |
| ================================ | ================================ |
These financial statements were approved by the board of trustees and authorised for issue on 22 May 2023, and are signed on behalf of the board by:
A Brodie Trustee
The notes on pages 7 to Error! Bookmark not defined. form part of these financial statements.
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Manchester Jewish Meals on Wheels
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Rita Glickman House, Bury Old Road, Prestwich, Manchester, M25 0EX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, '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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported besides the valuation of fixed asset investments at the year-end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Manchester Jewish Meals on Wheels
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Manchester Jewish Meals on Wheels
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
- 20% reducing balance
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
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Manchester Jewish Meals on Wheels
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Financial instruments (continued)
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 20,050 | 20,050 | 20,069 | 20,069 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Income from listed investments | 9,698 | 9,698 | 19,242 | 19,242 | |
| ======================= | ======================= | ============================ | ============================ |
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Manchester Jewish Meals on Wheels
Notes to the Financial Statements (continued)
Year ended 31 March 2023
6. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Charitable Activities | 59,553 | 59,553 | 60,926 | 60,926 |
| Support costs | 4,848 | 4,848 | 989 | 989 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 64,401 | 64,401 | 61,915 | 61,915 | |
| ============================ | ============================ | ============================ | ============================ |
7. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support |
Total funds | Total fund | ||
| directly | costs |
2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Charitable Activities | 59,553 | 3,559 |
63,112 | 60,926 | |
| Governance costs | – | 1,289 |
1,289 | 989 | |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| 59,553 | 4,848 |
64,401 | 61,915 | ||
| ============================ | ======================= | ============================ | ============================ | ||
| 8. | Analysis of support costs | ||||
| Analysis of | |||||
| support costs | |||||
| activity 1 | Total 2023 | Total 2022 | |||
| £ | £ | £ | |||
| General office | 3,559 | 3,559 | – | ||
| Governance costs | 1,289 | 1,289 | 989 | ||
| ----------------------- | ----------------------- | -------------- | |||
| 4,848 | 4,848 | 989 | |||
| ======================= | ======================= | ============== | |||
| 9. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 27 | 34 | |||
| ============== | ============== | ||||
| 10. | Independent examination fees | ||||
| Period from | |||||
| Year to | 15 Feb 21 to | ||||
| 31 Mar 23 | 31 Mar 22 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial | statements | 1,290 | 940 | ||
| ======================= | ============== | ||||
| 11. | Staff costs |
The average head count of employees during the year was Nil (2022: Nil).
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Manchester Jewish Meals on Wheels
Notes to the Financial Statements (continued)
Year ended 31 March 2023
11. Staff costs (continued)
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Taxation
Manchester Jewish Meals On Wheels is a registered charity and therefore is not liable to income tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
14. Tangible fixed assets
| Plant and | |
|---|---|
| machinery | |
| £ | |
| Cost | |
| At 1 April 2022 and 31 March 2023 | 26,603 |
| ============================ | |
| Depreciation | |
| At 1 April 2022 | 26,468 |
| Charge for the year | 27 |
| ---------------------------- | |
| At 31 March 2023 | 26,495 |
| ============================ | |
| Carrying amount | |
| At 31 March 2023 | 108 |
| ============================ | |
| At 31 March 2022 | 135 |
| ============================ | |
| Investments | |
| Listed | |
| investments | |
| £ | |
| Cost or valuation | |
| At 1 April 2022 | 609,110 |
| Additions | – |
| Fair value movements | (22,376) |
| -------------------------------- | |
| At 31 March 2023 | 586,734 |
| ================================ | |
| Impairment | |
| At 1 April 2022 and 31 March 2023 | |
| Carrying amount | |
| At 31 March 2023 | 586,734 |
| ================================ | |
| At 31 March 2022 | 609,110 |
| ================================ | |
| All investments shown above are held at valuation. |
15. Investments
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Manchester Jewish Meals on Wheels
Notes to the Financial Statements (continued)
Year ended 31 March 2023
15. Investments (continued)
Financial assets held at fair value
Investments
Investments relate to stocks & shares held in the UK stock market.
16. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Prepayments and accrued income | 219 | 1,775 |
| Other debtors | 69,969 | 65,265 |
| ---------------------------- | ---------------------------- | |
| 70,188 | 67,040 | |
| ============================ | ============================ | |
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Accruals and deferred income | 1,050 | 1,440 |
| Other creditors | – | 6,569 |
| ----------------------- | ----------------------- | |
| 1,050 | 8,009 | |
| ======================= | ======================= |
17. Creditors: amounts falling due within one year
18. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | April 2022 | Income | Expenditure | 31 March 23 | |
| £ | £ | £ | £ | ||
| General funds | 697,951 | 29,748 | (64,401) | 663,298 |
|
| ================================ | ============================ | ============================ | ================================ | ||
| At | |||||
| At | 15 Feb 21 | Income | Expenditure | 31 March 22 | |
| £ | £ | £ | £ | ||
| General funds | 720,555 | 39,311 | (61,915) | 697,951 |
|
| ================================ | ============================ | ============================ | ================================ |
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Manchester Jewish Meals on Wheels
Notes to the Financial Statements (continued)
Year ended 31 March 2023
19. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Intangible assets | 586,734 | 586,734 |
| Tangible fixed assets | 108 | 108 |
| Current assets | 77,506 | 77,506 |
| Creditors less than 1 year | (1,050) | (1,050) |
| -------------------------------- | -------------------------------- | |
| Net assets | 663,298 | 663,298 |
| ================================ | ================================ | |
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Intangible assets | 609,110 | 609,110 |
| Tangible fixed assets | 135 | 135 |
| Current assets | 96,715 | 96,715 |
| Creditors less than 1 year | (8,009) | (8,009) |
| -------------------------------- | -------------------------------- | |
| Net assets | 697,951 | 697,951 |
| ================================ | ================================ |
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