Charity number: 262782 Company number: 01017215
Menuchar Limited (A company limited by guarantee)
Trustees' report and financial statements
for the year ended 31 March 2021
Barry Flack & Co Limited Chartered Certified Accountants Prospect House 2 Athenaeum Road London N20 9AE
Menuchar Limited (A company limited by guarantee)
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 3 |
| Accountants' report to the trustees | 4 |
| Statement of financial activities | 5 |
| Income and expenditure account | 6 |
| Balance sheet | 7 - 8 |
| Notes to the financial statements | 9 - 11 |
Menuchar Limited (A company limited by guarantee)
Legal and administrative information
| Charity number | 262782 | |
|---|---|---|
| Company registration number | 01017215 | |
| Business address | 6 Riverside Drive | |
| 300 Golders Green Road | ||
| London | ||
| NW11 9PU | ||
| Registered office | Barry Flack & Co Limited | |
| The Brentano Suite | ||
| Prospect House | ||
| 2 Athenaeum Road | ||
| London | ||
| N20 9AE | ||
| Trustees | Raphael Bude | |
| Gail Bude | ceased 8 November 2021 | |
| Secretary | Helena Bude | |
| Chief executive | Raphael Bude | |
| Management committee | Raphael Bude | |
| Gail Bude | ceased 8 November 2021 | |
| Accountants | Barry Flack & Co Limited | |
| Prospect House | ||
| 2 Athenaeum Road | ||
| London | ||
| N20 9AE | ||
| Bankers | Barclays Bank UK PLC |
Page 1
Menuchar Limited
(A company limited by guarantee)
Report of the trustees (incorporating the directors' report) for the year ended 31 March 2021
The trustees present their report and the financial statements for the year ended 31 March 2021. The trustees, who are also directors of Menuchar Limited for the purposes of company law and who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
Menuchar Limited is a charitable company limited by guarantee and was established on 9 July 1971. It is governed by two trustees in accordance with the memorandum and articles of association. The trustees are responsible for the overall direction and management of the organisation through the Trustee Board.
Objectives and activities
The objects of the charity are to advance religion in accordance with the Orthodox Jewish Faith and for such purposes are recognised by English law as charitable; to provide relief of needy persons; to undertake, accept, execute and administer, without remuneration, any charitable trusts; to publish literature and learned works of all kinds in furtherance of the objects of the charity; to establish and support or aid in the establishment and support of any charitable association or institution, trust fund; and to subscribe or guarantee money for any charitable purpose which the charity shall consider calculated to promote its objects.
Achievements and performance
The donations received have decreased from the previous year.
Financial review
The Statement of Financial Activities for the year shows total incoming resources of £250,000 (2020 £510,000). Grants were made to religious organisations of £382,080 (2020 £557,691).
Statement of trustees' responsibilities
The trustees (who are also directors of Menuchar Limited for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
Page 2
Menuchar Limited
(A company limited by guarantee)
Report of the trustees (incorporating the directors' report) for the year ended 31 March 2021
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
On behalf of the board
Helena Bude Secretary 28 November 2021
Page 3
Menuchar Limited
(A company limited by guarantee)
Accountants' report to the trustees on the unaudited financial statements of Menuchar Limited.
We report on the financial statements of Menuchar Limited for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the Income and Expenditure Account, the Statement of Total Recognised Gains and Losses and the related notes. These financial statements have been prepared under the accounting policies set out therein and the requirements of the Financial Reporting Standard for Smaller Entities (effective January 2015).
Respective responsibilities of the trustees and auditors
As described in the statement of trustees' responsibilities the company's trustees (who also act as directors for the charitable activities of Menuchar Limited) are responsible for the preparation of the accounts, and they consider that the company is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.
Basis of opinion
Our work was conducted in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the financial statements with the accounting records kept by the company, and making such limited enquiries of the officers of the company as we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion.
Opinion
In our opinion:
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(a) the accounts are in agreement with those accounting records kept by the company under the Companies Act 2006.
-
(b) having regard only to, and on the basis of, the information contained in those accounting records:
-
(i) the accounts have been drawn up in a manner consistent with the accounting requirements specified in the Act; and
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(ii) the company satisfied the conditions for exemption from audit of the accounts for the year specified in the Act, and did not, at any time within that year, fall within any of the categories of companies not entitled to the exemptions specified in the Act.
Barry Flack & Co Limited Chartered Certified Accountants
28 November 2021
Prospect House 2 Athenaeum Road London N20 9AE
Page 4
Menuchar Limited (A company limited by guarantee)
Statement of financial activities
For the year ended 31 March 2021
| Unrestricted funds Notes £ Incoming resources Incoming resources from generating funds: Voluntary income 2 250,000 Total incoming resources 250,000 Resources expended Accountancy fees 1,680 Bank charges 91 Other office expenses 13 Donations - grants made to religious organisations 382,080 Total resources expended 383,864 Total funds brought forward 340,535 Total funds carried forward 206,671 |
2021 Total £ 250,000 250,000 1,680 91 13 382,080 383,864 340,535 206,671 |
2020 Total £ 510,000 |
|---|---|---|
| 510,000 | ||
| 2,400 131 13 557,691 |
||
| 560,235 | ||
| 390,770 | ||
| 340,535 |
The notes on pages 9 to 11 form an integral part of these financial statements.
Page 5
Menuchar Limited
(A company limited by guarantee)
Income and expenditure account
For the year ended 31 March 2021
| Income Operating expenditure Operating deficit Retained deficit for the financial year |
2021 £ 250,000 383,864 133,864 133,864 |
2020 £ 510,000 560,235 |
|---|---|---|
| 50,235 | ||
| 50,235 |
The notes on pages 9 to 11 form an integral part of these financial statements.
Page 6
Menuchar Limited
(A company limited by guarantee)
Balance sheet
as at 31 March 2021
| Notes Fixed assets Investments 5 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Funds Unrestricted income funds Total funds |
2021 £ £ 100 208,261 208,261 1,690 206,571 206,671 206,671 206,671 |
2020 £ £ 100 342,851 342,851 2,416 340,435 340,535 340,535 340,535 |
2020 £ £ 100 342,851 342,851 2,416 340,435 340,535 340,535 340,535 |
|---|---|---|---|
| 340,535 | |||
| 340,535 | |||
| 340,535 |
The Balance Sheet continues on the following page.
The notes on pages 9 to 11 form an integral part of these financial statements.
Page 7
Menuchar Limited (A company limited by guarantee)
Balance sheet (continued)
Trustees statements required by the Companies Act 2006 for the year ended 31 March 2021
In approving these financial statements as trustees of the company we hereby confirm:
(a) that for the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006 ;
(b) that no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 31 March 2021.
(c) that we acknowledge our responsibilities for:
(1) ensuring that the company keeps proper accounting records which comply with section 386 of the Companies Act 2006, and
(2) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of sections 394 and 395, and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company.
These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements were approved by the board on 28 November 2021 and signed on its behalf by
Raphael Bude Director
The notes on pages 9 to 11 form an integral part of these financial statements.
Page 8
Menuchar Limited (A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2021
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Statement of Recommended Practice 'Accounting and Reporting by Charities' effective January 2015 and the Companies Act 2006.
1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income.
2. Voluntary income
| Unrestricted funds £ Donations 250,000 250,000 |
2021 Total £ 250,000 250,000 |
2020 Total £ 510,000 |
|---|---|---|
| 510,000 |
Page 9
Menuchar Limited (A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2021
3. Employees
Employment costs
No salaries or wages have been paid to employees, including the trustees, during the year.
Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
| full time equivalents, was as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| Number | Number | |
| Trustees/Directors | 2 | 2 |
4. Taxation
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.
| Subsidiary 5. Fixed asset investments undertakings shares £ Valuation At 1 April 2020 and At 31 March 2021 100 Historical cost as at 31 March 2021 100 |
Total £ 100 |
|---|---|
| 100 |
All fixed asset investments are held within the United Kingdom.
| 6. | Creditors: amounts falling due | ||
|---|---|---|---|
| within one year | 2021 | 2020 | |
| £ | £ | ||
| Accruals and deferred income | 1,690 | 2,416 |
Page 10
Menuchar Limited (A company limited by guarantee)
Notes to financial statements for the year ended 31 March 2021
7. Company limited by guarantee
Menuchar Limited is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Page 11