The trustees present their report and financial statements for the period ended 31 January 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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** The charity's objects are the advancement of the Orthodox Jewish faith for the public benefit in such ways as are exclusively charitable as set out under English law and in particular but not exclusively by: a) providing or supporting in the provision of places for religious worship and education; and b) providing for the pastoral needs and welfare of the community, particularly members of the Jewish community. ## **Risk Management** The charity produced a risk register that sets out the operational and strategic risks to which the charity is exposed, and how these risks are managed and controlled. This included the specific COVID-19 risks. There is a process for internal audit which provides checks that controls are working effectively and that risk is managed in a proportionate way. Internal audit arrives at ratings for each area of risk management and identifies actions for improvement where appropriate. The trustees have assessed the major risks to which the charity is exposed and are satisfied that there are systems are in place to mitigate exposure to the major risks. ## **Public Benefit** In planning activities for the year, the trustees took due heed of the Charity Commission's guidance on the requirement to provide public benefit, as well as the requirements of the Equalities Act 2010. Trustees undergo periodic training in both these areas. The trustees are confident that the focus on the Orthodox Jewish community complies with all relevant legislation and guidance. ## **Achievements and performance** Grants on the unrestricted fund are made at the trustees' discretion from their knowledge of the various institutions, Applications by individuals must be accompanied by a letter of recommendation by the applicant's minister or other known religious leader. All grants over £5,000 are detailed in the notes to the accounts. The charity has made various grants in the year under review, initially to one Orthodox Jewish religious educational institution in line with the charity's objectives. The Trustee awarded those grants after a process of due diligence and engagement with the charity’s leadership. During the course of the grant the Charity ensured, through regular contact, that funds are expended by recipients in line with the agreed purpose or in accordance with agreements made, and that reporting requirements are met before any further instalments were paid out. The Trustees are reviewing other applications and will make grants to other charities in the next financial year. The charity is also involved in the running of a synagogue in the United Kingdom. Trustees were delighted with the outcomes highlighted following an evaluation of services provided by the synagogue. ## **Financial review** In the year under review the charity generated income of £208,476 and incurred expenses of £211,070 resulting in net outgoing resources of £2,594. The trustees have increased their fundraising efforts to cover the shortfall in the following year. The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. There are no current plans to change the activities or modus operandi in the foreseeable future. ## **Structure, governance, and management** 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. It was incorporated on 29 January 2020 as a company and registered as a charity on 12 August 2020. The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were: Mr M Kornik (Appointed 29 January 2020) Mr Y B Schaechter (Appointed 29 January 2020) Mr David Margulies (Appointed 29 January 2020) It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures. The trustees administer the day to day running of the charity. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The trustees' report was approved by the Board of Trustees. .............................. Mr Y B Schaechter Trustee Dated: .........................