MARBEH TORAH TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023
The trustees of the charity present their annual report under the Charities Act 2011 and the financial statements for the year ended 31 December 2023 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 NatWest, Muswell Hill, London
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 2023
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 £116,703 (2022 - £289,575) and distributions of £117,300 (2022 - £285,950). Governance costs were £1,757 leaving a net loss for the year of £2,354 (2022 – surplus of £819).
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 2023
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 28 October 2024 and signed on its behalf.
……………………………………… M C Elzas 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 2023, 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 28 October 2024
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 2023
| Note Incoming Resources Donations Resources Expended Charitable Activities Religious Education 6 Governance Costs Motor, Travel & Sundries Bank Charges Accountancy Telephone Total Resources expended Net Income/(Loss) of Resources Reconciliation of Funds Balance b/f Surplus carried forward |
2023 Unrestricted Funds £ 116,703 117,300 1,047 94 540 76 1,757 119,057 (2,354) 2,791 438 |
2022 £ 289,575 |
|---|---|---|
| 285,950 | ||
| 2,198 68 540 - |
||
| 2,806 | ||
| 288,756 | ||
| 819 1,972 |
||
| 2,791 |
- 5 -
MARBEH TORAH TRUST
BALANCE SHEET AS AT 31 DECEMBER 2023
| CURRENT ASSETS Debtors Bank CREDITORS: Payable within one year Net Assets TRUST FUND CAPITAL ACCOUNT Settled Fund Unrestricted Funds |
Note 4 5 |
2023 £ 100 1,075 1,175 637 538 100 438 538 |
2022 £ 100 3,421 |
||
|---|---|---|---|---|---|
| 3,521 630 |
|||||
| 2,891 | |||||
| 100 2,791 2,891 |
Approved by the Board of Trustees on 28 October 2024 and signed on its behalf by
……………………………………… M C Elzas - Trustee
The notes form part of these accounts.
- 6 -
MARBEH TORAH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR 31 DECEMBER 2023
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 Loans |
2023 £ 100 100 |
2022 £ 100 100 |
|---|---|---|
- 7 -
MARBEH TORAH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR 31 DECEMBER 2023
| 5. CREDITORS Expenses Accrued |
2023 £ 637 |
2022 £ 630 |
|---|---|---|
6. DISTRIBUTIONS FOR THE YEAR ENDED 31 DECEMBER 2023
| Beis Dovid Chazon Avraham Yitzchak Ohavei Torah Yeshiva Marbeh Torah |
£ 7.400 16,700 5,000 88,200 117,300 |
|---|---|
Distributions made in the year were all made to further and support Jewish Education.
- 8 -