Heichale• Hakodesh Centre Machnovke Belz Charlty No. 1197513 Company No. Trustees, Report arbd Unaudited Accounts 31 Ortober 2023
Heichalei Hakodesh Centre Machnovke Belz Contents Pages 2to3 Trustees, Annual Report IrTrdependent Examiner's Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Notes to the Account5 8t013 Detailed Statement of Financial Activities 14to15 Page I
Heichalei Hakodesh Centre Machnovke Be12 Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2C(16, present their report with the unaudited financial statements of the charity for the year ended 31 October 2023. REFERENCE AND ADMINISTRATIVE DETAILS Company No. Charity No. 1197513 Principal Office 32 Grayling Road London N1608T Registered Office 32 Grayling Road London N160BT Director5 and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees seNed during the year: M. Krautwirt S. Krautwirt R. Ludmir Accountants S J Shel(Jon Ltd 20 Clarence Road Hale Cheshire WA15 85G OBJECTIVES AND AcllviTIES The purpose of the charity as set out in its governing document. The tharity 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 £919.96912022 £548.8151 during the period and made charitable donations of £905,42612022 £490.5551 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. STRUCWRE. 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 finar)cial statements comply with the Companies Act 21)06. 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 Companles Act 2006 and in accordance with the Charities SORP IFRS 1021. Signed on behalf of the board M. Kra twirt Trustee 14June 2024 Page 3
Heichalei Hakodesh Centre Machnovke Beli Independent Examiners Report Independent Examiner's Report to the trustees of Heichalel 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 year ended 31 October 2023. Responsibilities and basis of report As the charity's trustees of the company land also its directors for the purpose5 of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 261'the 2CK)6Act. 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 a5 carried out under Section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's ststement As the charity's gross income exceeded £250.OW your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Financial Accountants, which is one of the listed bodies. 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.. • accounting records were not kept in accordance with section 386 of the 2CQ6 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connertion 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 I Sheldon Ltd 20 Clarence Road Hale Cheshire WA15 8SG 14June 2024 Page 4
Helchalel Hakodesh Centre Machnovke Belz St*ement of Financial Actwities for the year ended 31 October 2023 Unrestricted funds Totsl funds Total funds 2023 2023 2022 Notes Income and endowments from: Donations and legacies 919,969 919,969 548,815 Total 919,969 919,969 548,815 Expendlture on". Charitable activities Other 905,426 40.768 905,426 40,768 490,555 12,169 Total 946,194 946.194 502,724 Net gains on investments Net {expenditure)lincome Transfers beljveen funds 126.2251 126,2251 46,091 Net lexpenditurel/incorne before other gainsl{losses) 126.2251 126,2251 46,091 Other gains and losses Net movement in fvnds 126.2251 126,2251 46,091 Reconciliation of funds: Total funds brought forward 46,091 46,091 Total funds carried lornard 19.866 19,866 46.091 Page 5
Heichalei Hakc•desh Centre Machnovke Belz Summary Income and Expenditure Account for the year ended 31 Ortober 2023 2023 2022 Income 919,969 548,815 Gross income for the year 919,969 548,815 Expenditure 946,194 502,724 Totsl expenditure for the year Net lexpenditurel/income before tax for the year 946,194 502,724 126.2251 46,091 Net (expenditure )lincome forthe year 126.2251 46,091 Page 6
Heichalei Hakodesh Centre Mathnovke Belz Balance Sheet at 31 October 2023 Company No. Notes 2023 2022 Current assets Cash at bank and in hand 19,866 19,866 19,866 46,091 46,091 46,091 Net current assets Total assets less current liabilitles 19,866 46,091 Net assets excluding pension asset or liability 19,866 46,091 Total net assets 19,866 46,091 The funds of the charity Restrirted fvnds Unrestricted funds General funds 19,866 46,091 19,866 46,091 Reserves Total funds 19,866 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 year ended 31 October 2023 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 26. The director5 acknowledge their responsibilities for complying with the requirements of the Companies Act 2(XJ6 with respect to accounting records and the preparation of accounts. Approved by the board on 14 June 2024 And signed on its behalf by= M. Krautwirt Trustee 14June 2024 Page 7
Heichalei Hakodesh Centre Machnovke Beli Ststement of Cash flows for the year ended 31 Ortober 2023 2023 2022 Cash fl¢)ws from operating artivities Net {expenditure)lincome per Staternent of Financial Artivities {26.2251 46,091 Net cash {used in)Ipro¥ide<l by operating artivities 126.2251 46,091 Net cash from investing activities Net cash from financlng actlvities Net Idecreaselllncrease in cash and equivalents 126.2251 46,091 Cash and cash equivalents at the beglnning of the year 46,091 Cash and cash equivalents at the end of the year 19,866 46,091 Components of cash and cash equivalents Cash and bank balances 19,866 46.091 19.866 46,091 Page 8
Heichalei Hakodesh Centre Machno¥ke Belz Notes to the Accounts for the year ended 31 Ortober 2023 l Accounting policies Ba515 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 IFRS 1021 leffective I January 20151- Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2(NJ6. Change in basis of accounting or to previous accounts There has been no change to the accounting policies Ivaluation rules and method of accounting) since last year and no change5 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. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reSee representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated fund5 Revaluation funds Restricted funds Inwme Recognition of intome Income is included in the Statement of Financial Activities ISOFAI when the charitv becomes entitled to, and virtually certain to receNe, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expendtture the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Voluntary income received by way of grants. donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gfft/donation to which it relates. Donated service5 These are on'.y included in income Iwith an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Tax reclaims on Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This 15 included in the accounts when receivable. Gain51llossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. asset5 Gainslllossesl on investment assets This includes any gain or loss on the sale of investments. Page 9
Heichalei Hakodesh Centre Machnovke Belz Notes to the Accounts Expendlture Recognition of expenditure Expenditure is recognised on an accnjals basis. Expenditure includes any VAT which 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 objetts. includin8 the making of grants and governance costs. All Brant 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. These include those costs associated with meeting the tonstitutional and statutory requirements of the Charity, including any auditlindependent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. These are support Costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable activtties. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 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 tash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part ofthe company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fijnds to a third party and the amount due to settle the obligation can be measufed or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Receipt of donated goods, facilitie5 and services All donated goods, facilities and seryices received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2 Company ststUS The company is a private company limited by guarantee and consequently does not have share capital. Page 10
eichalei Hakodesh Centre Machnovke 8e12 Notes to the AttountS 3 Statèment of Financial Arti¥ities- prior year Unrestrirted funds Total funds 2022 2022 Income and endowments from: Donations and legacies 548.815 548,815 Totsl 548,815 548,815 Expendlture on: Charitable activitie5 490.555 490,555 12,169 Other 12.169 Total 502.724 502.724 Net income 46,091 46,091 Net income before other galnslllosses) Other galns and10sses: Net movement in funds 46,091 46,091 46,091 46.091 Reconciliation of funds: Total funds carrled forward 46.091 46,091 4 Income from donations and le8acles Unrestricted Total Totsl 2023 2022 Donations 919,969 919,969 919,969 919,969 548,815 548,815 5 Expenditure on charitable artivitles Unrestricted Total Total 2023 2022 Expenditure on charitoble activities Donations made 905,426 905,426 490,555 Governonce costs 905,426 905,426 490,555 Page 11
Heichalei Hakodesh Centre Machnovke Bel2 Notes to the Accounts 6 Other expenditure Unrestrirted Total Totsl 2023 2022 Motor and travel costs 16.097 4.240 19,291 1,140 40,768 16.097 4,240 19,291 1.140 40,768 160 Premises costs 2,480 9,529 General administrative costs Legal and professional costs 12.169 7 Staff costs No employee received emoluments in exces5 of £fA).(XX). 8 Movement in fund5 Incoming resources At31 {induding other 8ainsllos5es Resources expended October Atl Novernber 2022 2023 Restrirted funds: Unrestricted funds: General fvnds 46,091 919,969 1946.1941 19,866 Total fund5 9 Analysls of net a55ets between funds 46.091 919,969 {946,1941 19,866 Unrestricted funds Total Net turrent assets 19.866 19,866 19,866 19,866 10 Reconcillation of net debt Atl November 2022 At31 Ortober 2023 Cash Ilows Cash and cash equivalents 46,091 46,091 126,2251 126.2251 19,866 19.866 Net debt 46,091 126.2251 19,866 11 Related party disclowres Controlling Party The company is limited by guarantee and has no share capttal; thus no sin8le party controls the companv. Page 12
Heiehalei Hakodesh Centre Ma¢hno¥ke Belz Notes to the Accounts Page 13
Heichalei Hak¢xlesh Centre Mathnovke Belz Detalled Statement of Financial Activities for the year ended 31 Ortober 2023 Unrestricted funds Totsl fund5 Total funds 2022 2023 2023 Income and endowments from: Donations and legacies Donations 919,969 919,969 919,969 919,969 548,815 548,815 Total income and endowments 919.969 919.969 548,815 Expenditure on: Charitable attivities Donations made 905,426 905,426 905,426 905,426 490,555 490,555 Totsl of expenditure on charltable artivities 9)5.426 905.426 490,555 Motor and travel costs Travel and subsistence 16,097 16,097 16,097 16,097 160 160 Premi5e5 Costs Rent 4,240 4.240 4,240 4,240 2,480 2,480 General administrative costs, intluding depreciation and amortisation Bank charges Postage and couriers Stationery and printing Sundry expenses Telephone, fax and broadband 401 401 342 202 485 3.460 4,191 1,334 9,529 17,332 1.073 19.291 17.332 1.073 19,291 Legal and professional costs Other legal and professional 05ts 1,140 1.140 1,140 1.140 Total of expenditure of other cts Total expendlture Net gains on investments 40,768 40,768 12,169 946.194 946,194 502,724 Net lexpenditurellincome 126,225) 126,2251 46,091 Net lexpenditsrellincome befrxe other 8ainslllossesl Other Gains 126,2251 126,2251 46.091 Page 14
Heichalei Hakodesh Centre Machnovke Belz Detailed Ststement of Financial Activities Net ffement in funds 126.2251 126.2251 46,091 Reconclllatlon of funds: Total funds brought forward 46,091 46,091 Totsl funds carried forward 19,866 19,866 46,091 Page 15