Heichalei Hakodesh Centre Machnovke Belz
Trustees' Report and Unaudited Accounts
31 October 2022
Heichalei Hakodesh Centre Machnovke Belz Contents
||Pages||
|---|---|---|
|Trustees'AnnualReport|2 to 3||
|IndependentExaminer'sReport||4|
|Statement of FinancialActivities||5|
|SummaryIncomeandExpenditure Account||6|
|BalanceSheet||7|
|Notesto the Accounts|8 to|11|
|DetailedStatement of FinancialActivities|12 to|13|
Page 1
Heichalei Hakodesh Centre Machnovke Belz Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 31 October 2022.
## REFERENCE AND ADMINISTRATIVE DETAILS
Company No.
Charity No. 1197513
Principal Office
32 Grayling Road London N16 0BT
Registered Office
32 Grayling Road London N16 0BT
## Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law.
The following Directors and Trustees served during the year:
M. Krautwirt
S. Krautwirt
R. Ludmir
Accountants
S J Sheldon Ltd 20 Clarence Road
Hale
Cheshire
WA15 8SG
## OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document. The charity was registered on the 14th January 2022.
The main activities undertaken by the charity are the advancement of the Jewish religion and Jewish religious education and the alleviation of poverty amongst the Machnovke Belz community in Bene Berak, Israel and Jewish communities throughout the world.
## ACHIEVEMENTS AND PERFORMANCE
The charity raised donations of £548,815 during the period and made charitable donations of £490,555.
The trustees are satisfied with the performance in the period.
Page 2
Heichalei Hakodesh Centre Machnovke Belz
Trustees Annual Report
## FINANCIAL REVIEW
The trustees have assessed the major risks to which the charity is exposed and they are satisfied that systems are in place to manage the charities exposure to those risks.
The trustees aim to maintain reserves at a level necessary to continue to provide charitable support as set out in the Governing document.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity was registered on the 14th January 2022 and is a charitable incorporated organisation.
The charity currently has three trustees.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
M. Krautwirt
Trustee 17 July 2023
Page 3
## Heichalei Hakodesh Centre Machnovke Belz
## Independent Examiners Report
Independent Examiner's Report to the trustees of Heichalei Hakodesh Centre Machnovke Belz
I report to the charity trustees on my examination of the financial statements of Heichalei Hakodesh Centre Machnovke Belz for the period ended 31 October 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
## Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ' ( the 2006 Act.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Financial Accountants.
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
- accounting records were not kept in accordance with section 386 of the 2006 Act ; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the accounting requirements under section 396 of the 2006
- Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
- the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
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 financial statements to be reached.
Simon Sheldon
Institute of Financial Accountants
S J Sheldon Ltd
20 Clarence Road
Hale
Cheshire
WA15 8SG 17 July 2023
Page 4
Heichalei Hakodesh Centre Machnovke Belz Statement of Financial Activities
for the period ended 31 October 2022
|for the period ended 31 October 2022|||
|---|---|---|
|Notes
Income and endowments
from:
Donationsandlegacies
3
Total
Expenditure on:
Charitableactivities
4
Other
5
Total
Netgainsoninvestments
Netincome
Transfersbetweenfunds
Netincome before other
gains/(losses)
Othergainsandlosses
Net movementinfunds
Reconciliation of funds:
Totalfundscarriedforward|Unrestricted
funds
2022
£
548,815|Totalfunds
2022
£
548,815|
||548,815
490,555
12,169|548,815
490,555
12,169|
||502,724
-|502,724
-|
||46,091
-|46,091
-|
||46,091|46,091|
||46,091|46,091|
||46,091|46,091|
Page 5
Heichalei Hakodesh Centre Machnovke Belz Summary Income and Expenditure Account
for the period ended 31 October 2022
|Income
Gross incomefor the period
Expenditure
Totalexpenditurefor the period
Netincome before taxfor the period
Netincomefor the period|2022
£
548,815|
|---|---|
||548,815|
||502,724|
||502,724|
||46,091|
||46,091|
Page 6
Heichalei Hakodesh Centre Machnovke Belz Balance Sheet
## at 31 October 2022
|at 31 October 2022|||
|---|---|---|
|Company No.|Notes|2022|
|||£|
|Current assets|||
|Cashat bankandin hand||46,091|
|||46,091|
|Netcurrent assets||46,091|
|Totalassets lesscurrentliabilities||46,091|
|Net assetsexcludingpension asset orliability||46,091|
|Totalnet assets||46,091|
|Thefundsofthecharity|||
|Restrictedfunds|7||
|Unrestrictedfunds|7||
|Generalfunds||46,091|
|||46,091|
|Reserves|7||
|Totalfunds||46,091|
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the period ended 31 October 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 17 July 2023
And signed on its behalf by:
M. Krautwirt
Trustee 17 July 2023
Page 7
Heichalei Hakodesh Centre Machnovke Belz Notes to the Accounts
for the period ended 31 October 2022
- 1 Accounting policies
## Basis of preparation
The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
## Fund accounting
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## Income
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
- Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year.
assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
Heichalei Hakodesh Centre Machnovke Belz Notes to the Accounts
## Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
## Taxation
The charity is exempt from corporation tax on its charitable activities.
## Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
## Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
## 2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Income from donations and legacies
|Incomefrom donationsandlegacies|||
|---|---|---|
|Donations|Unrestricted
£
548,815
548,815|Total
2022
£
548,815|
|||548,815|
Page 9
Heichalei Hakodesh Centre Machnovke Belz Notes to the Accounts
- 4 Expenditure on charitable activities
|4
Expenditure oncharitable activities||||
|---|---|---|---|
|Expenditureoncharitable
activities
Donationsmade
Governancecosts
5
Other expenditure
Motorand travelcosts
Premises costs
Generaladministrativecosts
6
Staffcosts
No employee received emolumentsin excessof£60,000.
7
Movementinfunds
Restrictedfunds:
Unrestrictedfunds:
Generalfunds
Totalfunds
8
Analysisofnet assetsbetweenfunds
Netcurrentassets|Unrestricted
£
490,555
490,555
Unrestricted
£
160
2,480
9,529
12,169
Incoming
resources
(including
other
gains/losses
)
£
548,815
548,815|Total
2022
£
490,555
490,555
Total
2022
£
160
2,480
9,529
12,169
Resources
expended
£
(502,724)
(502,724)
Unrestricted
funds
£
46,091
46,091|At 31
October
2022
£
46,091|
||||46,091|
||||Total
£
46,091|
||||46,091|
Page 10
Heichalei Hakodesh Centre Machnovke Belz Notes to the Accounts
9 Reconciliation of net debt
|Reconciliation ofnet debt|||
|---|---|---|
|Cashandcash equivalents
Net debt|Cashflows
£|At 31
October
2022
£|
||46,091|46,091|
||46,091
46,091|46,091|
|||46,091|
10 Related party disclosures Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 11
Heichalei Hakodesh Centre Machnovke Belz Detailed Statement of Financial Activities
for the period ended 31 October 2022
|for the period ended 31 October 2022|||
|---|---|---|
|Income and endowmentsfrom:
Donationsandlegacies
Donations
Total income and endowments
Expenditure on:
Charitableactivities
Donationsmade
Totalofexpenditure oncharitable
activities
Motorand travelcosts
Travelandsubsistence
Premises costs
Rent
Generaladministrativecosts,
includingdepreciationand
amortisation
Bankcharges
Postageandcouriers
Stationeryand printing
Sundry expenses
Telephone,fax and broadband
Totalofexpenditure ofothercosts
Totalexpenditure
Netgainsoninvestments
Netincome
Netincome before other
gains/(losses)
Other Gains
Net movementinfunds
Reconciliation of funds:|Unrestricted
funds
2022
£
548,815
548,815
548,815
490,555
490,555
490,555
160
160
2,480
2,480
342
202
3,460
4,191
1,334
9,529
12,169
502,724
-
46,091
46,091
-
46,091|Totalfunds
2022
£
548,815|
|||548,815|
|||548,815
490,555|
|||490,555|
|||490,555
160|
|||160|
|||2,480|
|||2,480|
|||342
202
3,460
4,191
1,334|
|||9,529|
|||12,169|
|||502,724
-|
|||46,091|
|||46,091
-|
|||46,091|
||||
Page 12
Heichalei Hakodesh Centre Machnovke Belz Detailed Statement of Financial Activities
Total funds brought forward Total funds carried forward
- - 46,091 46,091
Page 13