## **MARBEH TORAH TRUST** ## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** **REGISTERED CHARITY NUMBER: 292491** ## **MARBEH TORAH TRUST** ## **CONTENTS** ||**Page**| |---|---| |**Trustees Report**|**1**| |**Independent Examiners Report**|**5**| |**Statement of Financial Activities**|**6**| |**Balance Sheet**|**7**| |**Notes to The Financial Statements**|**8**| ## **MARBEH TORAH TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED** ## **31 DECEMBER 2022** The trustees of the charity present their annual report under the Charities Act 2011 and the financial statements for the year ended 31 December 2022 and confirm that the latter comply with the requirements of the Act, the Trust Deed and the Charities SORP 2005. **REFERENCE AND ADMINISTRATIVE INFORMATION Trustees** Moishe Chaim Moishe Chaim Elzas Jacob Naftoli Elzas Simone Elzas **Charity Number** 292491 **Charity Offices** 116 Castlewood Road , London, N15 6BE **Accountants** B Olsberg & Co, Enterprise House Chartered Accountants 3 Middleton Road Manchester M8 5DT **Independent Examiners** B Olsberg & Co Enterprise House Chartered Accountants 3 Middleton Road Manchester M8 5DT **Bankers** Allied Irish Bank Plc, The Mall, London W4 3TA The Charity was founded on 1 March 1985 and is registered with the Charity Commission. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **GOVERNING DOCUMENT** The charity is governed by its Trust Deed dated 1 March 1985 which has not been amended. ## **GOVERNING BODY** The structure of the Charity consists of three trustees. The board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing trustee. ## **TRUSTEES** The trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission. ## **TRUSTEES INDUCTION AND TRAINING** 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. - 1 - ## **MARBEH TORAH TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED** ## **31 DECEMBER 2022** ## **ORGANISATIONAL MANAGEMENT** The Trustees of the Charity, are legally responsible for the overall management and control of the Charity and meet regularly. ## **RISK MANAGEMENT** The trustees do not feel that the trust is subject to any major risks ## **OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES** The charity is constituted by Trust Deed and its objects are to encourage and support the furtherance of Orthodox Jewish Education and religion and the relief of poverty. The policy of the Charitable Trust continues to be to support these activities. It is intended to continue with the Trusts current activities. The charity is organised so that the trustees meet regularly to manage its affairs. Administration of the charity is dealt with by the trustees ## **AIMS AND INTENDED IMPACT** Within these objects, the trustee's aim is to continue to provide funds for Jewish educational establishments. ## **OBJECTIVES FOR THE YEAR** The aim this year is to continue to give support to Jewish educational establishments. ## **STRATEGIES TO ACHIEVE THE YEAR'S OBJECTIVES** These included meetings with potential donors to obtain funds for the trust’s objects. ## **PRINCIPAL ACTIVITIES OF THE YEAR** The charity collected funds during the year and was able to meet requests for support. ## **PUBLIC BENEFIT** The trustees confirm that they have referred to the guidance in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. ## **GRANT MAKING POLICY** The policy is to provide funds requested by Jewish Educational Establishments. ## **REVIEW, ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR** ## **FINANCIAL REVIEW** ## **TRANSACTIONS AND FINANCIAL POSITION** The Statement of Financial Activities shows a total income of £289,575 (2021 - £306,545) and distributions of £285,950 (2021 - £316,800). Governance costs were £2,806 leaving a net surplus for the year of £819 (2021 – loss of £10,977). The charity continues to collect funds for distribution and is continuing in operation. - 2 - ## **MARBEH TORAH TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED** ## **31 DECEMBER 2022** ## **FINANCIAL REVIEW AND RESULTS FOR THE YEAR** The Trustees consider that the performance of the charity this year has been satisfactory. There were no significant changes in the year. The nature of the distributions were in line with the constitution and objects of the charity. This is in line with the wishes of the Trustees who constantly review the effectiveness of the charity and approve the scope of their activities. ## **RESERVES POLICY** The trustees intend to distribute all funds collected, subject to retentions as appropriate. ## **INVESTMENT POLICY AND OBJECTIVES** Under the Trust Deed the charity has the power to make any investment which the trustees see fit but no investments are currently held. ## **FUTURE PLANS** The trustee's plans are to continue to collect donations to support the trust’s objects. ## **ACCOUNTING AND REPORTING RESPONSIBILITIES** The trustees are required by Charity law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of the year. In preparing those financial statements the trustees are required to: - (a) select suitable accounting policies and apply them consistently; - (b) make judgements and estimates that are reasonable and prudent; - (c) follow applicable accounting standards and statements of recommended practice, disclosing and explaining any departures in the financial statements. - (d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. 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. ## **APPROVAL** The report was approved by the board of directors and trustees on 27 October 2023 and signed on its behalf. ## **Trustee** - 3 - ## **INDEPENDENT EXAMINER’S REPORT** ## **TO THE TRUSTEES OF MARBEH TORAH TRUST** I report on the financial statements of the Trust for the year ended 31 December 2022, which are set out on pages 7-11. ## **Respective responsibilities of trustees and examiner** The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: - Examine the accounts under section 145 of the 2011 Act - To follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act and - To state whether particular matters have come to my attention. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the - requirements - to keep accounting records in accordance with Section 41 of the Act; and - to prepare accounts which agree with the accounting records and which comply with the accounting requirements of the Act. - have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **B OLSBERG FCA 27 October 2023** **B OLSBERG & CO CHARTERED ACCOUNTANT ENTERPRISE HOUSE 3 MIDDLETON ROAD MANCHESTER M8 5DT** - 4 - ## **MARBEH TORAH TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 DECEMBER 2022** |**2022**
**Unrestricted**
**Funds**
**Note**
**£**
**Incoming Resources**
Donations
289,575
289,575
**Resources Expended**
Charitable Activities
Religious Education
6
285,950
**Governance Costs**
Motor, Travel & Sundries
2,198
Bank Charges
68
Accountancy
540
2,806
Total Resources expended
288,756
**Net Income/(Loss) of Resources**
819
**Reconciliation of Funds**
Balance b/f
1,972
Surplus carried forward
2,791|**2021**
**£**
306,545| |---|---| ||306,545| ||316,800| ||80
102
540| ||722| ||317,522| ||(10,977)
12,949
1,972| - 5 - ## **MARBEH TORAH TRUST** ## **BALANCE SHEET AS AT 31 DECEMBER 2022** |**CURRENT ASSETS**
Debtors
Bank
**CREDITORS:**
Payable within one year
Net Assets
**TRUST FUND**
**CAPITAL ACCOUNT**
Settled Fund
Unrestricted Funds|**Note**
**4**
**5**||**2022**
**£**
100
3,421
3,521
630
2,891
100
2,791
2,891||**2021**
**£**
1,712
1,070| |---|---|---|---|---|---| ||||||2,782
710| ||||||2,072| ||||||100
1,972
2,072| Approved by the Board of Trustees on 27 October 2023 and signed on its behalf by ……………………………………… Trustee ……………………………………… Trustee ……………………………………… Trustee The notes form part of these accounts. - 6 - ## **MARBEH TORAH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR 31 DECEMBER 2022** ## **1. ACCOUNTING POLICIES** - a. The financial statements have been prepared under the historical cost convention in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice; Accounting and Reporting by Charities (SORP) 2005. - b. Voluntary income is received by way of donations and gifts and is included gross in the Statement of Financial Activities. All incoming resources are included in the SOFA when the charity is legally entitled to the income. Tax due back on gift aid receipts is included. - c. Unrestricted funds are donations and other income received or generated for the objects of the charity without further specified purposes. - d. Management and administration costs of the charity relate to the central costs of management including the costs of meetings, independent examination of the financial statements and statutory compliance. ## **2. TAXATION** The trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes. ## **3. STAFF COSTS** No remuneration was paid to the trustees in the year. There were no staff costs, and the charity employed no volunteers. Administration of the trust was by the trustees. |**4.**
**DEBTORS**
Tax Recoverable
Loans|**2022**
**£**
-
100
100|**2021**
**£**
1,612
100
1,712| |---|---|---| - 7 - ## **MARBEH TORAH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR 31 DECEMBER 2022** |**5.**
**CREDITORS**
Expenses Accrued|**2022**
**£**
630|**2021**
**£**
710| |---|---|---| ## **6. DISTRIBUTIONS FOR THE YEAR ENDED 31 DECEMBER 2022** |Beis Dovid
Chazon Avraham Yitzchak
Margenita DeAvraham
Chasdei Aharon
Yeshiva Marbeh Torah|**£**
12,500
48,000
10,000
700
214,750
285,950| |---|---| Distributions made in the year were all made to further and support Jewish Education. - 8 -