MELCREN LIMtTED LIMITED BY GUARANTEE Company No: 1547554 Charity No: 284834 FINANCIAL STATEMENTS for the year ended 31 MARCH 2024 COHEN ARNOLD CHARTERED ACCOUNTANTS LONDON NWI I OPU
MELCRF.N LItED LIMITED BY GUAIUNTEE INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Reference and Administrative Infonnation Trustees Report Independent Exatniner's Report Statement of Financial Activtties (incorporating the Income and Expenditure Account) Balance Sheet Statement of Cash Flows 8-11 Noles to the Financial Statem¢nts
MELCRF.N LIIVllTED JMITED BY GUARANTEE REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 GOVERNORS (TRUSTEES): Mr E Englander (Chairnian) Mrs N Weiss Mrs M Wosner SECRETARY: Mrs N Weiss PRINCIPAL ADDRESS: 129 Stamford Hill London N16 5TW REGISTERED OFFICE: New Burlington House 1075 Finchley Road London NWI I OPU INDEPETr4DENT EXAMINER: Asher Sternlicht FCA Cohen Arnold New Burlington House 1075 Finchley Road London NWI I OPU PRINCIPAL BANKERS: Barclays Bank Pl COMPANY NUMBER: 1547554 CHARITY NUMBER: 284834
MELCREN LIMITED LIMITED BY GUAIL4NTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are also Direclors for ihe purposes of Company Law, have pleasure in presentin8 their Annual Report and the Financial Statements of the Charity for Ihe year ended 31 March 2024. REFERENCE AND ADMIMSTRATIVE INFORMATION Reference and Administrative Informalion of the Company is shown on Page l of the Financial Ststements and fornis part of this report. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Documenl Melcren Limited is a Company limited by guarantee govern¢d by its Memorandum and Articles of Association. Oryanisalion The Chariry is adminis*red by ihe Governor5 who are the Trustees. Every Trustee holds office until helsh¢ shall die or shall c¢ase to hold office by virtue of the Articles of Association. The day-tctrday affairs of the Company are administered by th¢ Trustees whos¢ Chaiman is Mr E Englander. Where there is a requirement for new Tru5tee& these would be identified and appointed by the remaining Trustees. The Chainnan of the Trustees would be responsibk for the induciion of any new Trnstee. whi¢h involves &WaneSS of a Trustee's responsibilitie5, the governing document. administrative predureS the history and philosophical approach of the Charity. A new Trustee would receive copies of the previous year's annual rewrt and accounts with delailed explwiation Iher¢of. All Trustees give their time voluntarily 8md no benefit or expenses wer¢ paid to them in the year. ORJECTIVES AND ACTtVlTIES FOR THE BE£FIT OF THE PUBLIC Th¢ Charitics objectives, a5 defined in ils governing document, ar¢ the advancement of religion in accordance with the orthodox Jewish faith. Ihe relief of poverty and such other puryose5 as are recognised by English Law as charitable. To achieve these objects. the Company ulilises its income to make grants and donations. Th¢ Trustees confim) iheir compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charily's aims and objecliv¢s And in planning future activities. Grani Mdklng Pollcy The Trustees are appmached for donations by 8 wide variety of charitable institutions operating in the United Kingdom and abroad. The Trusl¢es consider all requests which they receive and make donations based on the level of funds avail&ble. ACHIEVEMENTS AND PERFORMANCE During the year the Company continued io pursue its philanthropi¢ objtS in support of educational. religious and other Charitable Organisations which is in a¢¢ordance with the guid8nce of the Charity Commission relating lo Public Benefit. The financial results of the Company for the year ended 31 March 2024 are fully tleCted in the attached Financial Stsletn¢nts logether with the Notes thereort. Grants and donations in the year totalled £546,400 (2023.. £632,000).
MELCREN LIMITED IMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 IARcH 2024 FINANCIAL REVIEW Financial Posilion The financial position of the Charity is satisfactory. Income from donations and invesknenls a88regated £562.5IKI. Total resources exnded were £550.892, resultin8 in A net surplus of £l1.608 for the year and total reserves of £3.782 deficit (2023- £15,390 deficit). Reserves Polley The R¢serYes Policy of the Trustees is to maintain unrestricted funds, which are the free reserves of the Charity. at a level they consider appropriate to the Charity's needs taking into account likely future requirements. Princlpal Uneertdlniles and Rlsk Mona8ett*nl The Trustees have identified and reviewed lh¢ major risks to which the Charity is exposed, in particular those related to the operations and finance of the Company? and are satisfied ihat systems are in place lo manage those risks. It is recols¢d that systems can only provide reasonable bLbt not absolut¢ assurance that major risks have been ad¢quately managed. Prlnclpalfundlng sources The charitabl¢ Company's principal funding source5 wer¢ dO[tionS rcc¢ived from related Companies. PLANS FOR FUTURE PERIODS The Trustecs plan to continue making distributions in accordance with their nt-MakIng policy and to ensure that the ability to generate sufficient income is m&intsined to achieve that end. SMALL COMPANY PROVISIONS This report has been prepared in accordance with the provisions applicable to companies ¢ntitled to the small companies. ¢x¢mption. Approved by th¢ Trustees on24Jwbg.&4.{includin8 in their cApacity as Company Dir¢clors. By Order of the Tru8ltes Mr8 N weL- (Secretary)
MELCREN LIMITED LIMITED BY GUARANTEE IIYDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF MELCREN LIMITED YF.AR ENDF.D 31 MARCH 2024 TRUSTEES I report to the trustees on my examination of the financial statem¢nts of Melcren Limiied ('th¢ charity,) for the year ended 31 March 2024. RESPOIYSIBILITIES AND BASIS OF REPORT As the trustees of the company (and also its directors for ihe purposes of company law) you are responsible for the preparation of the financial slaiem¢nts in accordance with the r4uirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited linder Part 16 of the 2006 Act and are e5igible for independeni examination, I report in respeci of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 201 l Ael,). In Calg out my ¢xamination I have followed the Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Since the charity's gross income exceeded £250,000 your examiner must be a member of a body li51ed in section 145 of ihe 2011 Act. I confirm that l am qualified to undertake the examinaiion because l atn a member of the Inslitule of Chartered Accountants in England and Wales (ICAEWI, which is one of the listed bodie5. I have completed my examination. I confim) that no matters have come lo my attention in connection wilh the examination giving me cause to believe.. accounting records were noi kept in respect of the charity as required by section 386 of the 2006 the financial slatemenls do not accord with thos¢ record5: or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that Ihe count$ give a 'true and fair, Yiew which is nol a matter considered &s part of an independent examination. or the financial Statements have not beeT) prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by charities applicable to charilies preparing iheir accounts in accordance with ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have ¢orne across no (Ah¢r matters in connection with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Asher St¢Tnlicht FCA Independent Examiner Cohen Arnold New Burlington House 1075 Finrhley Road London NWI I OPU Date:
MELCREN LIMITED LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 Unrestrlcted Funds 2023 Unrestricted Funds Notes INCOME AND ENDOWMENTS Donations and Legacies 562500 628.700 Total Income 562,500 628.700 EXPENDITURE Exp¢nditure on Charitable Activitie$ $50092 637,336 Total Expenditure (550,892) (637,336) NET INCOME I (EXPENDITURE) NET MOVEMF.NT IN FUNDS 11,608 (8.636) Reconclllgtion of funds 1 otal l.unds Brought Forward {15J90) (6,754) TOTAL FUNDS CARRIED FORWARD £(3.782) £(15,390) The statement of financi81 activities includ¢s all gains and losses recognised in the year. All income and cxpenditure derive from continuing activities. The notes on pages 8 to I I forni part of these Financial Stat¢m¢nts.
MELCREN I.IMITED IMITED BY GUARANTEE BALANCE SHEET AS AT 31 MARCH 2024 Compury No.. 1547554 2024 202 Note# CURRENT ASSETS Cash at Bank 4,925 801 CREDITORS: Amounts falling due within one year (8,707) (16,191) NET LIABtLITtES £{3,782) £(15,390) FUNDS OF THE cHARy Unrestricted Funds (3,782) (15.390) TOTAL CHARITY FUNDS £(3.782) £(15,390) For the year ended 31 March 2024 the Company was entitled to exemption from audit under Section 477 of the Compani¢s A¢t 2006 relalin8 to small companies. Trustees, responsibilities: Th¢ members have not required the Company lo obtain an audil of its accounts for the year in question in accordance with Section 476. and The Trustees aeknowledge their responsibilities for complying with the qUIreMents of the Act with respect to accounting records and the preparalion of &ccounts. Th¢se accounls have been prepAred in accordanc¢ with the provisions applicable to companies subj¢cl to the small companies, regime. These financial statements were approved by the Trustees and authorised for issue on 2f.WFvV.. and are signed on their behalf by: MRS N WEISS MRS M WOSLYER TRUSTEES The notes on pa8es 8 to I I fomi part of these Financial Statements.
MELCREN LIMITED LIMITED BY GUAIL4NTEE STATEMENT OF CASH FLOWS FOR THE YEAR 31 MARCH 2024 2024 2023 Nei Income l (expenditure) for the year 11,608 (8,636) AdJu$tmeDts for: Increasel(Decrease) in creditors 3.720 {3,420) Net eAsh used ID operatlng fdctlvltles 15J28 (12.056) Net egsh provlded by investlng a¢tlvitSe8 Change In ¢h and cayh ¢qulvalelltS ID ihe year 1Sa28 (12,056) Cash and Cash equivalents at the b¢8inning of the year (10,403) ,653 CiJb aDd cash equfvalents at the end of the year £4.925 £(10,403) The notes on pages 8 to I I forni part of these Financial Statem¢nts.
MELCREN LIMITED LIMITED BY GUAIi4NTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GENERAL INFORMATION The charity is a private company limited by guar&ntee, registered in England and Wales and a registered charity in England and Wales. The address of the principal office is 129 Stamford Hill, London N16 5TW. STATEMENT OF COMPLIANCE Th¢se financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Sialetnent of Recommended Praclice applicable to charities preparing their accounts in Accordance with the Financial Reportit)g Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. ACCOUNTtNG POLICIES The following accounling policies have be¢n used consistently in the preparalion of the Financial Statemcnts. B4sis of *eeountlDg The financial statements have been prepared on lh¢ historical cost basis, as modified by the r¢valuation of certain financial assets and liabilities and measured al fair value through income or expenditure. Th¢ financial statements are prepared in sterling, which is the functional currency of the entity. Judgements key sources orestimatloll ullcertginty The preparation of the financial statements requires management lo make judgements. estimales and assumptions that affect the amounts reported. I'hese estimates and judgements are continually reviewed and are based on experien¢¢ and other factors, including expectation5 of future evenls that hre believed to be reasonable und¢r the circumstances. Fund ACCOUDtIll8 Unrestricted funds are available for use At the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eamiarked by the trustees for parti¢ular future project or ¢ommilm¢nl. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the ternis of an appeal, and fall into one oftwo sub_classes.. restri¢ted income funds or endowment funds, IDcoTnillg resource5 All incoming resources are included in the statement of financial activities when entitlement has passedto the charity; it is probable that the OnOMiC benefits associated with the Iransaction will flow to the charity and the atnount can be reliably measured. Incomc from donations or grants is recognised when there is evidence of entitlement to the gill receipl is probable and its amount can b¢ measured reliably. t)onations represent voluntary amounts trceivable during the year. Investment Income is included in the accounls when reccivabl¢.
MELCREN LIMITED LIMITED B Y GUARANTE£ NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDF,D 31 MARCH 2024 ACCOUNTING POLlCtES (CO14) Resources expended Expenditure is recognised as s(K)n as there is a present obligation committing the Charity to pay out r¢sources, it is probable that a transfer of economic benefits will be required in settlement and th¢ amount can be measured or estimated reliably. CharitAbl¢ Aetlvltle9 Grants are charged in the period in which paid; they ¢ompri5e donalion5 to third-party institulions in 8ccord&nce with the charilable objects of the charity and its public benefit objectives. Support costs Support cosls are those costs which are common to all areas of the OrganitiOn. These are allocated across all EaS of activity on the basis of the number of service users for each activity. Govern4ll¢¢ eogtj Governance costs are associated with the governance arrangements of the charity And relate to Ihe g¢n¢ral running of the charily. These costs include audit. legal advice for Trustees and costs associated with meeling constitulional and statutory requiremenLS such as the c05t of Trustee meelings and the preparation of the statutory accounts. TaxatlOD The Charity is not liable to direct tsxation (corporation tax) on its income &s il falls within the various exemptions available to registered Charities. FittanclAI instruments A financial asset or g financial liability is recognised only when the enlity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related irnnsaction costs, unless the arrangement ¢onstitutes a financing trRnsaction, where it is recognised at the present value of the fulure payments discounted at a market rate of interest for a similar d¢bt instrument. Current assets and ¢utTent liabililies are subsequently measured at the cash or other onsideration expected to be paid or received and not discounted. Debt instruments subsequently measured at amortised c05t. DONATIONS AND iEGACIES 2024 2023 Generdl Donations £562,500 £628,700
MELCREN LIMITED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF EXPENDITURE CHARITABLE ACTIvrrIES 2024 202 Grant Funding Activitl¢s (Institutions) Supwrt and Govemance Costs (Note 6) 546,400 4,492 632.000 5,336 £550,892 £637,336 All grants paid relate to advaneement of the Jewish Religion and relief of TM)verty. An Analysis of grants paid is attached to these Financial Statements. SUPPORT AND GOVERNANCE COSTS 202 Independent Examiner's R¢mun¢ration General Expenses Bank Charges and interest 3,720 3.780 403 1,153 772 £4,492 £5,336 STAFF COSTS AND EMOLUMENIS AND PARTICULARS OF EhLPLOYEES No Trustees or staff have been paid any remuneration or received any other ben¢fits from the charity. No staff were employed by the charity during the reporting period. CREDITORS: AMOUNTS FALLING DUE WITHtN ONE YEAR 2023 Bank ovcrdraft Sundry Creditors 11,204 4.987 8,707 £8.707 £16.19] io
I¥IELCREN LtMrrED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR TKE YEAR ENDED 31 MARCH 2024 UNRESTRICTED FUNDS Charltlble Funds Balanc¢ af l April 2023 Net in¢ome for the year (ISJ90) 11,608 Balan¢¢ at 31 March 2024 £(3,782) io. RELATED PARTY TRANSACTIONS There have been no related party trans¢105 in the reporting p¢riod ihat require disclosur¢.
MELCREN LIMITED LIMITED BY GUARANTEE ANALYSIS OF GRANTS FOR THE YEAR ENDED 31 MARCH 2024 Recipients of Institutional Grants Achisomoch Aid Company Limited College for Higher Rabbinical Studies Mifal Hach¢s¢d Vehatzdoko Oirays& Ltd Friends of Yeshiva Daas Sholem Shotz UTA Bnois Jerusalem School Y¢shuo% Shabbos Success Stories Machzik¢i Lomdei Torah Rise and Shine Trust Chasdei Aharon Limit¢d Chasdei Sholom Ker¢n Nissuin Other grants 63,500 30,000 28.000 94,500 25.000 80.000 23.000 22,200 35.000 21.200 17,000 15.000 15.000 13,500 63,500 £546.400