REGISTERED COMPANY NUMBER: 13963112 (England and Wales) REGISTERED CHARITY NUMBER: 1199727
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024
for
MENDAN LIMITED
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
MENDAN LIMITED
Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
MENDAN LIMITED
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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
Objectives and aims
The objectives of the charity are to advance such charitable purposes (according to the law of england and wales) as the trustees see fit from time to time in particular but not limited to making grants towards advancing the orthodox Jewish faith, the relief of sickness and preservation of health and the relief of financial hardship and poverty.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grantmaking policy.
Grantmaking
Grants are made to charitable institutions after it has been satisfied that payments will accord with the objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity has had a successful year, receiving £79,585 (2023: £104,179) in donations, and making grants totalling £97,004 (2023: £83,225) to charitable organisations.
Internal and external factors
There are no specific factors to report.
FINANCIAL REVIEW
Financial position
At the balance sheet date the charity had £872 (2023: £18,960) in unrestricted funds and £1,172 (2023: £19,260) of cash in the bank. The trustees are satisfied with the financial position of the charity.
FUTURE PLANS
The trustees plan to continue to pursue the charitable objectives of the charity and ensure that the ability to generate sufficient income is maintained to achieve that end.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
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 major risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
13963112 (England and Wales)
Registered Charity number
1199727
Registered office
First Floor, Winston House 349 Regents Park Road London N3 1DH
Page 1
MENDAN LIMITED
FOR THE YEAR ENDED 31 MARCH 2024
Report of the Trustees
Trustees
I Y Feder P Klein S Mozes
Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 20 June 2024 and signed on its behalf by:
S Mozes - Trustee
Page 2
Independent Examiner's Report to the Trustees of Mendan Limited
Independent examiner's report to the trustees of Mendan Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 accounts 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
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts 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 (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 accounts to be reached.
Mr Aryeh Melinek, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Date: 20 June 2024
Page 3
MENDAN LIMITED
Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024
| Year Ended 31.3.24 Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 79,585 EXPENDITURE ON Charitable activities Grants to charitable institutions 97,004 Other charitable activities 669 Total 97,673 NET INCOME/(EXPENDITURE) (18,088) RECONCILIATION OF FUNDS Total funds brought forward 18,960 TOTAL FUNDS CARRIED FORWARD 872 |
Period 8.3.22 to 31.3.23 Total funds £ 104,179 83,225 1,994 85,219 18,960 - 18,960 |
|---|---|
The notes form part of these financial statements
Page 4
MENDAN LIMITED
Balance Sheet 31 MARCH 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 1,172 CREDITORS Amounts falling due within one year 5 (300) NET CURRENT ASSETS 872 TOTAL ASSETS LESS CURRENT LIABILITIES 872 NET ASSETS 872 FUNDS Unrestricted funds 872 TOTAL FUNDS 872 |
2023 Total funds £ 19,260 (300) 18,960 18,960 18,960 18,960 18,960 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20 June 2024 and were signed on its behalf by:
S Mozes - Trustee
The notes form part of these financial statements
Page 5
MENDAN LIMITED
Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| Period | ||
| 8.3.22 | ||
| Year Ended | to | |
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Grants to charitable institutions | 97,004 | 83,225 |
| The total grants paid to institutions during the year was £97,004 (2023: £83,225). A summary of grants made to | ||
| institutions during the year is as follows: | ||
| Name of institution | Amount (£) | |
| Achisomoch Aid Company Ltd | 15,650 | |
| The Union of Orthodox Hebrew Congregations | 8,000 | |
| Agudas Israel Organisation Of Great Britain | 6,000 | |
| Yeshiva Gedola Nezer Hatorah | 5,600 | |
| Brongate Ltd | 4,600 | |
| Menorah High School For Girls | 4,500 | |
| North London Welfare and Educational Foundation | 4,000 | |
| Yeshivas Chosein Yehoshua | 3,958 | |
| Torah (5759) | 3,600 | |
| PHGS Foundation Ltd | 3,306 | |
| Shaarie Orah Ltd | 2,500 | |
| Sunderland Jewish Boys' Hostel And Talmudical College | 2,500 |
continued...
Page 6
MENDAN LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
2. GRANTS PAYABLE - continued
| Beth Shmuel Synagogue | 2,000 |
|---|---|
| Chaye Olam Ltd | 1,750 |
| Blooming Blossoms Trust | 1,565 |
| Y.M.E.R. CIO | 1,500 |
| Other | 25,975 |
| Total | 97,004 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the period ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the period ended 31 March 2023.
4. STAFF COSTS
There were no staff costs for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Accruals and deferred income | 300 | 300 |
6. RELATED PARTY DISCLOSURES
Included within donations is a total of £44,000 (2023: £12,500) received from a company controlled by the trustees of Mendan Limited.
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