Charity Registration Number:- 235459
Machzikei Hadass Communities Group
Report and Accounts
31 August 2023
B Olsberg & Co Chartered Accountants & Statutory Auditor Enterprise House 3 Middleton Road Manchester M8 5DT
Machzikei Hadass Communities Group
Report and accounts for the year ended 31 August 2023
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 6 | |
| Independent Auditors' Report | 8 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 12 | |
| Statement of Financial Activities - Prior Year statement | 13 | |
| Statement of total recognised gains and losses | 13 | |
| Movements in funds | 14 | |
| Revaluation reserves | 14 | |
| Revenue Funds | 15 | |
| Fixed Asset funds | 15 | |
| Income and Expenditure account | 15 | |
| Summary of funds | 15 | |
| Balance sheet | 16 | |
| Cash flow statement | 17 | |
| Notes to the accounts | 19 |
Machzikei Hadass Communities Group
Trustees' Annual Report for the year ended 31 August 2023
The Trustees present their Report and Accounts for the year ended 31 August 2023.
Reference and administrative details
The charity name.
The legal name of the charity is:- The Machzikei Hadass Communities.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 235459.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as an unincorporated charity, established by Trust Deed. The governing document of the charity is the Trust Deed establishing the charity.
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
1
Machzikei Hadass Communities Group
Trustees' Annual Report for the year ended 31 August 2023
The principal operating address is:-
17 Northumberland St. Salford, Manchester M7 0FE
The Trustees in office on the date the report was approved were:-
Y A Sanger, A Reich
Y M Salomon, M Brunner
The following persons served as Trustees during the year ended 31 August 2023 :-
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The Charitable Trust's objects are to further the observance of orthodox Judaism, to encourage and support the advancement of Orthodox Jewish Religious Education, to establish all institutions required by an orthodox Jewish community and any other charitable activity.
The main activities undertaken in relation to those purposes during the year.
The policy of the Charitable Trust continues to be to support these activities as follows:
-
1) The trustees own several buildings including a synagogue hall and ritual baths. These are used constantly by the Community members. They also own a cemetery.
-
2) The Trustees employ a Rabbi and various supervisory officials to ensure that the highest standard of religious requirements in all spheres of Judaism is achieved and maintained.
-
3) The Charity operates a charity fund voucher account, the surplus in which, is used for its objects.
2
Machzikei Hadass Communities Group
Trustees' Annual Report for the year ended 31 August 2023
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The trustees confirm that they have referred to guidance contained in the charity commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance when reviewing the charity’s aims and objectives and in planning future activities, and setting the grant policy for the year.
The main achievements and performance of the charity during the year.
The trustees consider that the performance of the charity this year has been satisfactory. It has been able to fund its various activities and distributions as indicated in the SOFA. There were no changes in its activities.
The difference the charity's performance during the year has made to the beneficiaries of the charity, and wider society
The Charity's performance has considerably benefited the beneficiaries in the community it serves and wider afield
Investment powers and performance.
The trustees are authorised to make and hold investments using the general funds of the charity, and these are shown in the balance sheet.
Structure, governance and management of the charity
The methods used to recruit, appoint and train new charity trustees.
The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Trustee.
Most trustees are already familiar with the practical work of the charity having received guidance from the existing trustees prior to appointment. New trustees are further encouraged to attend training sessions organised by the charity
3
Machzikei Hadass Communities Group
Trustees' Annual Report for the year ended 31 August 2023
How the subsidiary undertaking(s) is/are constituted and managed.
The charity’s subsidiary Testbell Limited continued to operate providing the community with Kosher poultry.Its other subsidiary Erez (M/c) Ltd provides a regular income from its property investments.
Bankers Royal Bank of Scotland, Manchester Solicitors Kuit Steinart Levy, Manchester Auditors B Olsberg & Co, Chartered Accountants and Registered Auditors Manchester
Financial review
The charity's financial position at the end of the year ended 31 August 2023
The financial position of the charity at 31 August 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Total Unrestricted Funds Total Funds Unrestricted revaluation reserve Net income Unrestricted Revenue Funds available for the general purposes of the charity |
2023 £ (11,505) 4,279,803 409,849 4,689,652 4,689,652 |
2022 £ 203,962 4,701,156 - 4,701,156 4,701,156 |
|---|---|---|
Financial review of the position at the reporting date, 31 August 2023 .
The charity provided Shechitah and Supervisory services during the year which produced an income of £180,435. Donation and subscriptions received during the year were £1,662,976. Gift aid of £360,000 was received from the charity’s wholly owned subsidiary company, Testbell.
The charity paid out charitable grants totalling £1,893,893.
The charity spent £69,277 on communal services which included the cost of running and refurbishing the Mikvas. Maintenance of religious buildings, including security, was £331,543 Rabbinical and Supervisory Services were £294,016.
The cost of Management and Administration was £166,037.
The charity’s surplus for the year was -£11,505 (Previous Year £203,962).
The results of the charity’s subsidiaries are shown in the accounts.
Funds available are sufficient to permit the Trust to continue in operation in the medium term.
4
Machzikei Hadass Communities Group
Trustees' Annual Report for the year ended 31 August 2023
Policies on reserves.
The trustees always wish to retain income to provide for unforeseen contingencies and the amounts retained will fluctuate from year to year.
The amount of distributions made in any period will take into account the necessity to have these reserves available in accordance with the Trustees policy.
The amount of reserves to be held is reviewed annually.
Going Concern
The trustees consider that the going concern basis of accounting in the preparation of the financial statements is appropriate for a period of at least twelve months from the date when the financial statements are authorised for issue and that there are no material uncertainties due to the discretion in making grants and maintaining adequate reserves.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets are available and adequate to fulfil its obligations in respect of each fund.
The major risks to which the Charity is exposed and reviews and systems to mitigate them.
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust. These risks include macro economic factors governing the whole economy that could expose tenants and thereby put value of the investment properties at risk with the associated knock on effect with lenders covenants. Additionally, the charity may be exposed to interest rate increases with reference to loans and their repayment.
The trustees examine the major risks that the charitable trust faces each financial year when preparing and updating its budget. The Charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the charity's future.
5
Machzikei Hadass Communities Group
Trustees' Annual Report for the year ended 31 August 2023
Details of The Auditor
B Olsberg FCA
For and on behalf of B Olsberg & Co. - Registered Auditors
3 Middleton Road
Manchester
M8 5DT
Statement as to disclosure of information to auditors
The trustees state that so far as each of the trustees at the time this report was approved are aware:-
-
a) There is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the auditors are unaware, and
-
b) The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and establish that the auditors are aware of that information.
Statement of Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
-
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
6
Machzikei Hadass Communities Group
Trustees' Annual Report for the year ended 31 August 2023
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the auditor in relation to the Trustees' report is limited to examining the report and ensuring that , the report is consistent with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 28 June 2024.
A Reich Trustee
7
Machzikei Hadass Communities Group
Independent Auditors' Report to the Trustees of the charity on the consolidated group accounts for the year ended 31 August 2023
Introduction
We have audited the consolidated financial statements of Machzikei Hadass Communities Group for the year ended 31 August 2023, as set out on pages 12 to 26, which comprise the Statement of Financial Activities, the Income and Expenditure Account, the Statement of Recognised Gains and Losses , the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements of the charitable group are prepared, in all material respects, in accordance with charity law applicable within the jurisdiction of England & Wales and, in particular, the accounts have been prepared in accordance with FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, under the historical cost convention, and in accordance with the accounting policies set out on page 19, which framework constitutes the applicable United Kingdom Generally Accepted Accounting Practice.
Limitation of liability
This report is made solely to the Trustees of the charitable group, as a body, in accordance with the requirements of Section 154 of the Charities Act 2011 (The Act). Our work has been undertaken so that we might state to the Trustees those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume liability or responsibility to anyone other than the Trustees as a body, for our work, for this report or for the opinions we have formed.
Basis for our opinion
We have been appointed as auditors under section 144(2) of The Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (ISAs-UK), issued by the Financial Reporting Council, and applicable law. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in England & Wales, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management and Those Charged with Governance for the Financial Statements
As described on page 6, you, the charitable group's Trustees, are responsible for the preparation of the consolidated financial statements for the charitable group in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practiceand for being satisfied that the financial statements give a true and fair view.
The Trustees,who are charged with governance, are responsible for overseeing the charitable group’s financial reporting process.
Management is responsible for the preparation of the financial statements in accordance with charity law of the jurisdiction of England & Wales and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.
8
Machzikei Hadass Communities Group
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs-UK will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Our responsibility is to audit and express an opinion on the consolidated financial statements in accordance with relevant legal and regulatory requirements and ISAs-UK. Those standards require us to comply with the Ethical Standards for Auditors published by the Financial Reporting Council and to:-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, to design and perform audit procedures responsive to those risks and to obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion;
To obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate for the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charity's internal control;
To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the charity;
To conclude on the appropriateness of the charity's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern;
To evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves a fair presentation.
Obtain sufficient appropriate evidence regarding the financial information of the entities or business activities within the group to express an opinion on the group financial statements;
We are required to report to the Trustees our opinion as to whether the consolidated financial statements give a true and fair view and have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Charities (Accounts and Reports) Regulations 2008.
We are also required to report to you if, in our opinion, the Trustees' Annual Report is materially inconsistent with the financial statements, if the charity has not kept adequate accounting records, if the charity’s financial statements are not in agreement with the accounting records and returns, or if we have not received all the information and explanations we require for our audit, or if information specified by law regarding Trustees' remuneration and transactions with the charity is not disclosed.
In addition, we read all the financial and non-financial information in the Trustees' Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
We conducted our audit in accordance with ISAs-UK and in accordance with the Practice Note ' The Audit of Charities in the United Kingdom' , revised in March 2012.
We are required to plan and perform our audit so as to meet the above requirements and to obtain all the information and explanations which we consider necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error.
In the course of our audit, we communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during the audit.
9
Machzikei Hadass Communities Group
Assistance with accountancy and tax matters
In accordance with the exemption provided by APB Ethical Standard – Provisions Available for Smaller Entities, we have prepared and submitted the charity’s returns to the tax authorities and assisted with the preparation of the accounts.
Eligibilty of auditor and status of audit
We confirm that we are eligible under section 144(2) of the Charities Act 2011 to conduct this audit, and that this report is a report in respect of an audit carried out under the Act and in accordance with the related regulations.
Attention is drawn to the accounting policy stating that, notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, and in order to accord with current best practice, the Trustees have determined to prepare the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), . We concur with this approach, and any references in our report to the regulations should be read subject to this comment.
Opinion on the Financial Statements
In accordance with Regulations 25(g) and (h) of the Charities (Accounts and Reports) Regulations 2008, in our opinion the charity's financial statements:
Give a true and fair view of the state of affairs of the charitable group as at 31 August 2023 and of its Income and Expenditure for the financial year then ended and, in particular, the financial statements have been properly prepared, in all material respects, in accordance with United Kingdom Generally Accepted Accounting Practice applicable to entities of its size and have been properly prepared in accordance with the requirements of the Charities Act 2011; and
have been prepared in accordance with the methods and principles required by the FRS102 Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commission in England & Wales (CCEW) , effective January 2015 (The SORP), and those methods and principles have been followed.
10
Machzikei Hadass Communities Group
Matters upon which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you, if in our opinion:
the charitable group has not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and returns; or
if information specified by law regarding Trustees' remuneration and transactions with the charity is not disclosed.
we have not received all the information and explanations we require for our audit. Signed:-
B Olsberg FCA - Senior Statutory Auditor
For and on behalf of B Olsberg & Co. - Registered Auditors
Chartered Accountants and Registered Auditors
3 Middleton Road Manchester M8 5DT
This report was signed on 28 June 2024
11
Machzikei Hadass Communities Group - Consolidated Statement of Financial Activities for the year ended 31 August 2023
Consolidated Statement of Financial Activities for the year ended 31 August 2023
| Income & Endowments from: Donations & Legacies 23 Charitable activities 24 Investments 26 Other 27 Total income Expenditure on: Charitable activities 33 Total expenditure Net income for the year Net income after transfers Other recognised gains/(losses) Reconciliation of funds:- Total funds brought forward Total funds carried forward Net gains on revaluation of fixed assets Net movement in funds |
Current year Unrestricted Funds 2023 £ 1,798,564 3,548,101 9,636 - 5,356,301 5,777,655 5,777,655 (421,354) (421,354) 409,849 (11,505) 4,701,156 4,689,651 |
Current year Restricted Funds 2023 £ - - - - - - - - - - - - - |
Current year Total Funds 2023 £ 1,798,564 3,548,101 9,636 - 5,356,301 5,777,655 5,777,655 (421,354) (421,354) 409,849 (11,505) 4,701,156 4,689,651 |
Prior Year Total Funds 2022 £ 1,726,802 3,244,513 53,601 44,346 5,069,262 4,865,300 4,865,300 203,962 203,962 - 203,962 4,497,194 4,701,156 |
|---|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
The notes attached on pages 19 to 26 form an integral part of these accounts.
12
Machzikei Hadass Communities Group - Consolidated Statement of Financial Activities for the year ended 31 August 2023
Consolidated Statement of Total Recognised Gains and Losses for the year ended 31 August 2023
| Surplus for the year :- Realised gains/(losses) on the disposal of tangible fixed assets Realised gains on disposals of social investments which are programme related Income from operations before tax in the Statement of Financial Activites Add/(deduct) non income and expenditure items:- Gains on the revaluation of tangible fixed assets Gains and losses on revaluation of fixed and intangible assets Net Movement in funds before taxation Funds generated in the year as shown on Statement of Financial Activities Net excess of income over expenditure from operations before tax |
2023 £ (421,354) - - (421,354) 409,849 409,849 398,344 398,344 |
2022 £ 159,616 44,346 - 203,962 - - 203,962 203,962 |
|---|---|---|
The notes attached on pages 19 to 26 form an integral part of these accounts.
Machzikei Hadass Communities Group - Group Resources applied in the year ended 31 August 2023 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Other applications of funds Net resources available to fund charitable activities |
2023 £ (11,505) (316,600) - (328,105) |
2022 £ 203,962 (144,684) - 59,278 |
|---|---|---|
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
The notes attached on pages 19 to 26 form an integral part of these accounts.
13
Machzikei Hadass Communities Group - Consolidated Statement of Financial Activities for the year ended 31 August 2023
Consolidated movements in revenue and capital funds for the year ended 31 August 2023
Revenue accumulated funds
| Unrestricted Funds 2023 £ Accumulated funds brought forward 4,701,156 (421,354) 4,279,802 Closing revenue funds 4,279,802 Consolidated Revaluation Reserve Fund Unrestricted Funds 2023 £ At 1 September - 409,849 At 31 August 409,849 Summary of consolidated funds Unrestricted and Designated funds 2023 £ Revenue accumulated funds 4,279,802 Revaluation reserve fund 409,849 Total funds 4,689,651 Recognised gains and losses before transfers Net gains on revaluation of fixed assets |
Restricted Funds 2023 £ - - - - Restricted Funds 2023 £ - - - Restricted Funds 2023 £ - - - |
Total Funds 2023 £ 4,701,156 (421,354) 4,279,802 4,279,802 Total Funds 2023 £ - 409,849 409,849 Total Funds 2023 £ 4,279,802 409,849 4,689,651 |
Last year Total Funds 2022 £ 4,497,194 203,962 4,701,156 4,701,156 Last year Total Funds 2022 £ - - - Last Year Total Funds 2022 £ 4,701,156 - 4,701,156 |
|---|---|---|---|
The notes attached on pages 19 to 26 form an integral part of these accounts.
14
Machzikei Hadass Communities Group - Consolidated Statement of Financial Activities for the year ended 31 August 2023
Machzikei Hadass Communities Group
Consolidated Income and Expenditure Account for the year ended 31 August 2023
| Income Income from operations Income from investments, other than interest receivable Interest receivable Gross income in the year before exceptional items Exceptional items: Realised gains on disposals of tangible fixed assets Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Governance costs Interest payable Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year All activities derive from continuing operations Net income after tax in the financial year Net income before tax in the financial year Investment income and interest |
2023 £ 5,346,665 6,178 3,458 5,356,301 - 5,356,301 5,731,901 6,120 12,000 27,634 - 5,777,655 (421,354) - (421,354) (421,354) |
2022 £ 4,971,315 53,343 258 5,024,916 44,346 5,069,262 4,825,946 7,363 12,000 19,991 - 4,865,300 203,962 - 203,962 203,962 |
|---|---|---|
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 19 to 26 form an integral part of these accounts.
15
Machzikei Hadass Communities Group - Balance Sheet as at 31 August 2023
| Notes Fixed assets Tangible assets 10 Current assets Stocks Debtors 12 Cash at bank and in hand Total current assets Creditors: amounts falling due within one year 13 Net current assets Creditors: amounts falling due after more than one year 14 The total net assets of the charity Net assets |
2023 £ 4,604,968 20,000 1,075,495 540,375 1,635,870 (847,900) 787,970 5,392,938 (703,287) 4,689,651 |
2022 £ 3,884,639 20,000 769,943 1,159,124 1,949,067 (406,494) 1,542,573 5,427,212 (726,056) 4,701,156 |
|---|---|---|
The total net assets of the charity are funded by the funds of the charity, as follows:-
Restricted funds
| Unrestricted Funds Unrestricted Revenue Funds 21 Unrestricted Revaluation Reserve 21 Designated Funds Total charity funds |
4,279,802 409,849 |
- 4,689,651 4,689,651 |
4,701,156 - |
- 4,701,156 4,701,156 |
|---|---|---|---|---|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charitable group is subject to audit under charity legislation, and the report of the Charities Act auditor is on page 11.
A Reich
Trustee Approved by the board of trustees on 28 June 2024
The notes attached on pages 19 to 26 form an integral part of these accounts.
16
Machzikei Hadass Communities Group
Consolidated Cash Flow Statement for the year ended 31 August 2023
| Cash flows from operating activities Cash flows from investing activities Interest received Other investment income, including rents from investments Proceeds from sales of investments Purchase of property, plant and equipment Net cash provided by investing activities Cash flows from financing activities Repayment of amounts borrowed Net cash provided by operating activities as shown below |
2023 £ (280,142) 3,458 6,178 210,143 (526,743) (306,964) (31,643) |
2022 £ (135,298) 258 53,343 44,346 (100,338) (2,391) (50,020) |
|---|---|---|
| Net cash provided by financing activities Overall cash provided by all activities Cash movements Change in cash and cash equivalents from activities in the year ended 31 August 2023 Cash and cash equivalents at 1 September 2022 Change in cash and cash equivalents due to exchange rate movements Cash at bank and in hand less overdrafts at 31 August |
(31,643) (618,749) (618,749) 1,159,124 - 540,375 |
(50,020) (187,709) (187,709) 1,346,833 - 1,159,124 |
17
Machzikei Hadass Communities Group
Consolidated Cash Flow Statement for the year ended 31 August 2023 Machzikei Hadass Communities Group
Cash Flow Statement for the year ended 31 August 2023 - Continued
Reconciliation of net income to net cash flow from operating activities
| Net income as shown in the Statement of Financial Activities Adjustments for :- Depreciation charges Write downs of investments Net unrealised losses on investment assets Dividends, interest and rents from investments Profit on the sale of Fixed and Intangible Assets Decrease in debtors Increase in creditors, excluding loans Net cash provided by operating activities Analysis of cash and cash equivalents Cash in hand at for the year ended 31 August 2023 Total cash and cash equivalents |
(421,354) 6,120 - - (9,636) - (305,552) 450,280 (280,142) 2023 £ 540,375 540,375 |
203,962 7,363 - - (53,601) (44,346) (143,778) (104,898) (135,298) 2022 £ 1,159,124 1,159,124 |
|---|---|---|
Machzikei Hadass Communities Group
Cash Flow Statement for the year ended 31 August 2023 - Continued
Analysis of change in net debt
| Cash Loans falling due within one year Loans falling due after more than one year Total |
At start of year 1,159,124 (98,516) (726,056) 334,552 |
Cash Flows and (618,749) (618,749) 8,874 - (609,875) |
At end of year 540,375 540,375 (89,642) (726,056) (275,323) |
|---|---|---|---|
18
Machzikei Hadass Communities Group
Notes to the Accounts for the year ended 31 August 2023
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Control of Group
The parent charity has concluded that control exists over its subsidiaries.
Going Concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31st August 2023, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Risks and future assumptions
The charity is a public benefit entity.
19
Machzikei Hadass Communities Group
Notes to the Accounts for the year ended 31 August 2023
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Categories of Income
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income. Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser. Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Dividends are accrued when the shareholder’s right to receive payment is established.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Gift Aid Donations from subsidiaries
FRS 102 requires gift aid payments from subsidiaries to be accounted for consistently with dividends. FRS 102 requires dividends to be recognised when the shareholder’s right to receive payment is established. The parent charity’s right to receive payment is established when the subsidiary has a legal obligation to distribute its profits to its owners at the reporting date. Therefore, the gift aid payment is not accrued in these individual accounts of the parent charity unless a legal obligation for the subsidiary to make the payment exists at the reporting date.
Policies relating to expenditure on goods and services provided to the charity.
Policies relating to assets, liabilities and provisions and other matters.
Fixed Asset Investments
Fixed asset investments in quoted shares, traded bonds, investment properties and similar investments are shown initially at cost upon acquisition and at their market value at the balance sheet date at the end of the financial period. Investment properties are not depreciated.
Fixed asset investments in unlisted equities are shown at the balance sheet date at the best estimate of their market value, where practicable. Where valuation techniques are considered unreliable or where, in the opinion of the trustees, the costs outweigh the benefits to the users of the accounts, the investment is included at cost, and a review is undertaken at each year end as to whether the asset should be written down.
All gains on fixed asset investments, whether realised or unrealised, are included in row B4 of the Statement of Financial Activities.
20
Machzikei Hadass Communities Group
Notes to the Accounts for the year ended 31 August 2023
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Freehold premises 0 % straight line Leasehold premises 2 % straight line Plant and machinery 20 % straight line Motor vehicles 20 % straight line
A regular annual review of the likelihood of asset impairment is undertaken.
No depreciation is provided on freehold property and improvements because it is the practice to maintain the property in a continual state of sound repair. Accordingly, the life is so long and the residual value so high that the Trustees consider that depreciation calculated in accordance with accepted accounting standards would be immaterial.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
21
Machzikei Hadass Communities Group
Notes to the Accounts for the year ended 31 August 2023
4 Significance of financial instruments to the charity's position
There are no significant implications of financial instruments to the charity's financial position or performance , and the related risks, for example the terms and conditions of loans, or the use of hedging to manage financial risk.
5 Net surplus before tax in the financial year
| The net surplus before tax in the financial year is stated after charging:- Depreciation of owned fixed assets Auditors' remuneration 6 Interest payable Loan interest |
2023 £ 6,120 12,000 2023 £ 27,634 |
2022 £ 7,363 12,000 2022 £ 19,991 |
|---|---|---|
| 7 Gains and losses on revaluation of fixed and intangible assets Current year Current year Unrestricted Funds 2023 £ Revaluation of :- Property 409,849 409,849 8 Staff costs and emoluments Salary costs Administration Salaries Total salaries, wages and related costs Additional Wages included in Rabbinical and Supervisory Services |
Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 409,849 409,849 2023 £ 26,500 26,500 210,165 |
Prior Year Total Funds 2022 £ - - 2022 £ 26,500 26,500 220,081 |
|---|---|---|---|
Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.
- 9 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
22
Machzikei Hadass Communities Group
Notes to the Accounts for the year ended 31 August 2023
10 Tangible fixed assets
----- Start of picture text -----
Land and Plant & Motor
Current Year Total
Buildings Machinery Vehicles
£ £ £ £
Cost
At 1 September 2022 3,855,401 101,507 11,779 3,968,687
Additions 524,883 1,860 - 526,743
Surplus on revaluation 409,849 - - 409,849
Disposals (210,143) - - (210,143)
At 31 August 2023 4,579,990 103,367 11,779 4,695,136
Depreciation
At 1 September 2022 - 74,391 9,657 84,048
Charge for the year - 5,696 424 6,120
At 31 August 2023 - 80,087 10,081 90,168
Net book value
At 31 August 2023 4,579,990 23,280 1,698 4,604,968
At 31 August 2022 3,855,401 27,116 2,122 3,884,639
Land and Plant & Motor
Prior Year Total
Buildings Machinery Vehicles
£ £ £ £
Cost
01 September 2021 3,770,563 86,007 11,779 3,868,349
Additions 84,838 15,500 - 100,338
31 August 2022 3,855,401 101,507 11,779 3,968,687
Depreciation
01 September 2021 - 67,736 8,949 76,685
Charge for the year - 6,655 708 7,363
31 August 2022 - 74,391 9,657 84,048
Net book value
31 August 2022 3,855,401 27,116 2,122 3,884,639
31 August 2021 3,770,563 18,271 2,830 3,791,664
----- End of picture text -----
Investment property is valued by professionals, or by the trustees who have experience in property valuations.
| 11 Stocks & Work in Progress Stocks before write downs Analysis of the carrying value of stocks and work in pro Activity Charitable Activities |
gress by activit 2023 £ - - Work i |
ies 2022 £ - - n Progress |
2023 £ 20,000 20,000 2023 £ 20,000 20,000 Sto |
2022 £ 20,000 20,000 2022 £ 20,000 20,000 cks |
|---|---|---|---|---|
23
Machzikei Hadass Communities Group
Notes to the Accounts for the year ended 31 August 2023
12 Debtors
| Trade debtors Prepayments and accrued income Other debtors 13 Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Accruals PAYE, NIC VAT and other taxes Other creditors 14 Creditors: amounts falling due after one year Bank loans and overdrafts 15 Loans to trustees included in debtors |
2023 £ 1,053,591 11,149 10,755 1,075,495 2023 £ 89,642 338,570 20,316 1,250 398,122 847,900 2023 £ 703,287 |
2022 £ 748,039 11,149 10,755 769,943 2022 £ 98,516 267,789 20,059 1,250 18,880 406,494 2022 £ 726,056 |
|---|---|---|
There were no loans made to trustees.
16 Guarantees made by the charity on behalf of trustees
There were no guarantees made for trustees.
17 Revaluation reserve
| Current year At 1 September 2022 Arising on revaluation during the year At 31 August 2023 18 Income and Expenditure account summary At 1 September 2022 Surplus after tax for the year At 31 August 2023 |
Current year Unrestricted Funds 2023 £ - 409,849 409,849 |
Current year Restricted Funds 2023 £ - - - |
Current year Total Funds 2023 £ - 409,849 409,849 2023 £ 4,701,156 (421,354) 4,279,802 |
Prior Year Total Funds 2022 £ - - - 2022 £ 4,497,194 203,962 4,701,156 |
|---|---|---|---|---|
19 Related party transactions
Gift aid totalling £360,000 was payable by Testbell Ltd to its parent Machzikei Hadass Communities. At the year end Machzikei Hadass Communities was owed £333,625 from its subsidiary Testbell Ltd and £523,560 from its subsidiary Erez (M/C) Ltd.
24
Machzikei Hadass Communities Group
Notes to the Accounts for the year ended 31 August 2023
20 Particulars of how particular funds are represented by assets and liabilities
| At 31 August 2023 Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities At 1 September 2022 Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities |
Unrestricted funds £ 4,604,968 1,635,870 (847,900) (703,287) 4,689,651 Unrestricted funds £ 3,884,639 1,949,067 (406,494) (726,056) 4,701,156 |
Designated funds £ - - - - Designated funds £ - - - - - |
Restricted funds £ - - - - - Restricted funds £ - - - - - |
Total Funds £ 4,604,968 1,635,870 (847,900) (703,287) 4,689,651 Total Funds £ 3,884,639 1,949,067 (406,494) (726,056) 4,701,156 |
|---|---|---|---|---|
21 Change in total funds over the year as shown in Note 20 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Unrestricted Revaluation Reserve Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2022 £ 4,701,156 - 4,701,156 4,701,156 |
Movement in funds in 2023 See Note 22 £ (421,354) 409,849 (11,505) (11,505) |
£ - - - - Transfers between funds in 2023 |
Funds carried forward to 2024 £ 4,279,802 409,849 4,689,651 4,689,651 |
|---|---|---|---|---|
25
Machzikei Hadass Communities Group
Notes to the Accounts for the year ended 31 August 2023
22 Analysis of movements in funds over the year as shown in Note 21
Unrestricted and designated funds:Unrestricted Revenue Funds Unrestricted Revaluation Reserve
| Income 2023 £ 5,356,301 - 5,356,301 |
Expenditure 2023 £ (5,777,655) - (5,777,655) |
Other Gains & Losses 2023 £ - 409,849 409,849 |
Movement in funds 2023 £ (421,354) 409,849 (11,505) |
|---|---|---|---|
23 The purposes for which the funds
Unrestricted and designated funds:-
Unrestricted Revenue Funds
Unrestricted Revaluation Reserve
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
This fund represents the unrestricted surplus arising on the revaluation of the charity's assets.
Restricted funds:-
Restricted Fixed Asset Funds
Restricted Revaluation Reserve
The purpose of these funds is described under the accounting policy 'Accounting for capital grants and fixed asset funds'. This fund represents the restricted surplus arising on the revaluation of the charity's assets.
24 Ultimate controlling party
The charity is under the control of its trustees.
26
Machzikei Hadass Communities Group
Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
| 25 Donations, Grants and Legacies Donations and gifts from individuals Total Donations, Grants and Legacies Sundry Donors Revenue grants from government and public bodies Total donations and gifts from individuals Community Security Trust Total public sector revenue grants |
Current year Unrestricted Funds 2023 £ 1,662,976 1,662,976 Current year Unrestricted Funds 2023 £ 135,588 135,588 |
Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 1,662,976 1,662,976 Current year Total Funds 2023 £ 135,588 135,588 |
Prior Year Total Funds 2022 £ 1,590,977 1,590,977 Prior Year Total Funds 2022 £ 135,825 135,825 1,726,802 |
|---|---|---|---|---|
| 1,798,564 | - | 1,798,564 |
27
Machzikei Hadass Communities Group
Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015
26 Income from charitable activities
| Current year Primary purpose and ancillary trading 27 Current year Total income from charitable trading Total from charitable activities 28 Investment income Property Rental Income (Net) Bank Interest Receivable Total investment income 29 Other income and gains Current year Total other income Realised gains on disposals of tangible fixed assets Total Income from charitable activities Shechita and Supervision Total Primary purpose and ancillary trading Trading Income - Subsidiary |
Current year Unrestricted Funds 2023 £ 3,367,666 180,435 3,548,101 Current year Unrestricted Funds 2023 £ 3,548,101 3,548,101 Current year Unrestricted Funds 2023 £ 6,178 3,458 9,636 Current year Unrestricted Funds 2023 £ - - |
Current year Restricted Funds 2023 £ - - - Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - - Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 3,367,666 180,435 3,548,101 Current year Total Funds 2023 £ 3,548,101 3,548,101 Current year Total Funds 2023 £ 6,178 3,458 9,636 Current year Total Funds 2023 £ - - |
Prior Year Total funds 2022 £ 2,966,492 278,021 3,244,513 Prior Year Total Funds 2022 £ 3,244,513 3,244,513 Prior Year Total Funds 2022 £ 53,343 258 53,601 Prior Year Total Funds 2022 £ 44,346 44,346 |
|---|---|---|---|---|
28
Machzikei Hadass Communities Group
Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015
30 Expenditure on charitable activities - Direct spending
| Current Year 38 38 38 Total direct spending Communal Services Maintenance of Religious Buildings Rabbinical and Supervisory Services |
Current year Unrestricted Funds 2023 £ 69,277 331,543 294,016 694,836 |
Current year Restricted Funds 2023 £ - - - - |
Current year Total Funds 2023 £ 69,277 331,543 294,016 694,836 |
Prior Year Total Funds 2022 £ 97,475 347,145 251,045 695,665 |
|---|---|---|---|---|
31 Expenditure on charitable activities - Charitable trading
| Current year Current Year Unrestricted Funds 2023 £ 3,022,889 Total charitable trading costs 3,022,889 Expenditure on charitable activities- Grant funding of activities Current year Current Year Unrestricted Funds 2023 £ 1,893,893 Total grantmaking costs 1,893,893 Current year Current Year Unrestricted Funds 2023 £ Sundry Donations 1,893,893 1,893,893 Breakdown of Grants made to organisations Prior Year Prior Year Unrestricted Funds 2022 £ Sundry Donations 1,374,260 1,374,260 Grants made to organisations Breakdown of Grants made to organisations Total costs of Subsidiary Activities |
Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - Prior Year Restricted Funds 2022 £ - |
Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 3,022,889 2,623,058 3,022,889 2,623,058 Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 1,893,893 1,374,260 1,893,893 1,374,260 Current year Total Funds 2023 £ 1,893,893 1,893,893 Prior Year Total Funds 2022 £ 1,374,260 1,374,260 |
|---|---|---|
32 Expenditure on charitable activities- Grant funding of activities
29
Machzikei Hadass Communities Group
Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015
| 33 Current year Current year Current Year Unrestricted Funds Restricted Funds 2023 2023 £ £ Employee costs not included in direct costs 26,500 - Premises Expenses 4,500 - 14,000 - Administrative overheads 19,339 - 22,642 - 5,404 - Professional fees paid to advisors other than the auditor or examiner 23,884 - Financial costs 4,014 - 27,634 - 6,120 - 154,037 - Total support costs 154,037 - Sundry expenses Depreciation & Amortisation in total for Other legal and professional Loan interest Support costs for charitable activities Telephone, internet and computer Stationery, printing and advertising Salaries - Administrative staff Utilities Property insurance Bank charges |
Current year Total Funds 2023 £ 26,500 4,500 14,000 19,339 22,642 5,404 23,884 4,014 27,634 6,120 154,037 154,037 |
Prior Year Total Funds 2022 £ 26,500 4,500 14,000 12,000 27,465 2,797 40,013 5,688 19,991 7,363 160,317 160,317 |
|---|---|---|
The basis of allocation of costs between activities is described under accounting policies
All the expenditure in the prior year was unrestricted.
34 Other Expenditure - Governance costs
| Current Year Auditor's fees Total Governance costs |
Current year Unrestricted Funds 2023 £ 12,000 12,000 |
Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 12,000 12,000 |
Prior Year Total Funds 2022 £ 12,000 12,000 |
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
30
Machzikei Hadass Communities Group
Detailed analysis of income and expenditure for the year ended 31 August 2023 as required by the SORP 2015
35 Total Charitable expenditure
| 35 Total Charitable expenditure | ||||
|---|---|---|---|---|
| Current Year Total direct spending 38 Total charitable trading costs Total grantmaking costs Total support costs Total Governance costs Total charitable expenditure All the expenditure in the prior year was unrestricted. Prior Year Total direct spending Total charitable trading costs Total grantmaking costs Total support costs Total Governance costs Total charitable expenditure |
Current year Unrestricted Funds 2023 £ 694,836 3,022,889 1,893,893 154,037 12,000 5,777,655 Prior Year Unrestricted Funds 2022 £ 695,665 2,623,058 1,374,260 160,317 12,000 4,865,300 |
Current year Restricted Funds 2023 £ - - - - - - Prior Year Restricted Funds 2022 £ - - - - - - |
Current year Total Funds 2023 £ 694,836 3,022,889 1,893,893 154,037 12,000 5,777,655 Prior Year Total Funds 2022 £ 695,665 2,623,058 1,374,260 160,317 12,000 4,865,300 |
Prior Year Total Funds 2022 £ 695,665 2,623,058 1,374,260 160,317 12,000 4,865,300 |
| 34 Income and Expenditure Per Entity Charitable Income etc Income from activities Investment Income Gain Charitable Expenditure Trading Expenditure Rental Expenses Total Expenditure Net Gift Aid (Deficit)/Surplus |
MHC 1,798,564 180,435 3,458 1,982,457 2,754,766 2,754,766 (772,309) 360,000 (412,309) |
Erez (M/c) Ltd 38,218 - 38,218 32,040 32,040 6,178 6,178 |
Testbell Ltd 3,367,666 3,367,666 3,022,889 3,022,889 344,777 (360,000) (15,223) |
Total 1,798,564 3,548,101 41,676 - 5,388,341 2,754,766 3,022,889 32,040 5,809,695 (421,354) - (421,354) |
31
Machzikei Hadass Communities Group
Activity analysis of Income and expenditure for the for the year ended 31 August 2023
This analysis is classsified by activity and not by conventional nominal descriptions.
| 36 Analysis of income by activity Charitable Activities Summary of Total Income, including the items above Charitable activities Donations & Legacies Investment income Other income Total income as shown in the SOFA Categories of income Income from non exchange transactions Income from exchange transactions Income from charitable activities Activity |
2023 £ 3,548,101 3,548,101 1,798,563 9,636 - 5,356,300 5,350,589 5,711 5,356,300 |
2022 £ 3,244,513 3,244,513 1,726,802 53,600 44,346 5,069,261 5,069,261 - 5,069,261 |
|---|---|---|
37 Analysis of charitable expenditure by activity
| Charitable Activities Direct costs (see below) Charitable trading costs (subsidiary) Employee costs not included in direct cos Premises expenses Administrative overheads Professional fees Financial costs Grant Making Grantmaking costs Activity Total Charitable Activities |
Direct costs 2023 £ 694,836 3,022,889 ts - - - - - 3,717,725 Direct costs 2023 £ - |
Support costs 2023 £ - - 26,500 18,500 47,385 23,884 37,769 154,038 Support costs 2023 £ - |
Grant funding of activities 2023 £ - - - - - - - - Grant funding of activities 2023 £ 1,893,893 |
Total 2023 £ 694,836 3,022,889 26,500 18,500 47,385 23,884 37,769 3,871,763 Total 2023 £ 1,893,893 |
Total 2022 £ 695,665 2,623,058 26,500 18,500 42,261 40,013 33,043 3,479,040 Total 2022 £ 1,374,260 |
|---|---|---|---|---|---|
32
Machzikei Hadass Communities Group
Activity analysis of Income and expenditure for the for the year ended 31 August 2023
Summary of charitable costs by activity
| Total Charitable Activities Total Grant Making Total charitable expenditure Total Governance costs |
Direct costs 2023 £ 3,717,725 - - 3,717,725 |
Support costs 2023 £ 154,038 - 12,000 166,038 |
Grant funding of activities 2023 £ - 1,893,893 - 1,893,893 |
Total 2023 £ 3,871,763 1,893,893 12,000 5,777,656 |
Total 2022 £ 3,479,040 1,374,260 12,000 4,865,300 |
|---|---|---|---|---|---|
The basis of allocation of costs between activities is described under accounting policies
The breakdown of this expenditure by type of spending (ie nominal classification) is detailed in note 35
Analysis of support and governance costs by charitable activities
| Activity Charitable Activities Summary of grant making by activity Grant Making |
Governance 12,000 Grants to institutions 2023 £ 1,893,893 1,893,893 |
Finance 37,769 Grants to individuals 2023 £ - - |
Human Resources 26,500 Support costs 2023 £ - - |
Other Overheads 89,769 Total 2023 £ 1,893,893 1,893,893 |
Total 166,038 Total 2022 £ 1,374,260 1,374,260 |
|---|---|---|---|---|---|
Fuller details of grants made and related costs, including support costs, are shown in note 32.
38 Analysis of non charitable expenditure by activity
| Activity Governance costs Other Expenditure - Governance costs as 38 Analysis of Direct Costs Salaries, Fees and Commission Insurance Utilities Travel Requisites and Sundry Repairs & Renewals Security Functions and Catering Mikva Expenses Sundry Total Resources Expended - |
detailed in Note Community Services |
34 Maintenance of Religious Buildings |
Rabbinical & Supervisory Services |
Governance costs 2023 £ 12,000 2023 Totals |
Governance costs 2022 £ 12,000 2022 Totals |
|---|---|---|---|---|---|
| 11,500 | 245,641 | 257,141 | 195,165 | ||
| 11,702 | 11,702 | 26,844 | |||
| 54,652 3,632 9,860 1,133 69,277 |
38,060 130,536 139,745 331,543 |
48,375 294,016 |
54,652 48,375 3,632 38,060 130,536 9,860 139,745 1,133 694,836 |
41,132 67,380 7,410 50,057 125,931 47,549 132,813 1,384 695,665 |
33