MAGEN CHARITABLE TRUST Financial Statement Forthe year ended 31 March 2024 SEFfoN YODAIKEN &CO F4irways House (knrge Street M25 9WS
.Magen Charitable Trust• Charity Infozmation Barf(ers Royal Bank of kndand 38 Moseley Street Manchester M60 2BE Solicitor ,liefman Rose & Co 94 Bury Old Road Manchester M8 Sefton Yodaiken & co FaiTways House George Street Prestwich anchester •4[ Page 2
•Magen Charifable Trust• Annual Report For the year ended 31 March 2024 The MagEtt Charitsble TTUSt is constituted by Deed of Trust and ig a regislEred dwity, nUML 326535. Its addtes8 18 at New RRverride House 439 Lower Broughton Road Sqlford M7 2FX. The charity Ilutirtg the year we. . J Hatyern Mr5 Rose Halpern The object of the charity is to E)rovide assistan. To reliete pety; è To support edtseational e5tablishn)Rnts: p To support re]i8ious educali<RL The iticoine ofj. the charity is teceiyed by way of Gift Aid, donations, interes( rent and didend The Ttustees eXan all srant appjications and they decide on the level of grant to be made deperfding on the cau&e the lev.tl of reserv. Risk Review The trukn have aSSed the map)r risks to whrch thÈ charity is exposed, in particular those ielated to the opetations and frywre of the dwity, and aR satisfied that systen are in place to Initigatr those rlsks. Grant Making Follty The dtsrity fimded by donatitms and also from inveslment incorne. The cliarity gives otht policy. The trnstees confjrm their Compliati with the duty kn have due regard the pub]ie benefit guidaTh Pu1Shed by the Charity Cornmi when Teviewing the tharitys ainK8 atsd oEryectives and in plannllig its future acttvitie&
•Magen Charitable Trtsst" Trnstees Report . the year ended 31 MaTeh 2024 The charity received £7JX) m dt)nalions during the ar. Grants glvefi durm8 the year totalled £2(mYJ. The grants w.e all in..accor&nce the clwities 01yes. Financial Review In the cwent year the charity was successful in meeting its aim& The charity has a por6oIio of inveBttnent The rental.income detived is, to cteats &n income streath for tTrte charity. The charitys investtnent PToÈWties are included in the bala1 sheet. valuations are detived havitag consulted with local esiate apts and with the trustees best estimate of market value at the balan sheet date. The trustees have extensive eXIle in the field of pro1 investment and Valuat1 which hag Investment Powers artd Èoliey In accoTdance with the trust deed, the cknity has power to tske any nttrestments which thè trustees see fiL The trustees reguh'r'ly teyiew the diarity's position and need5 in respect of the 1rtvaslnnt policy. It is the policy of the cTwity to iThaintain funds, which are fr re&etyes of the diatity at a kvel w.hich the trustees think appropriate after COAsidering the future conunithents (rf the tharity and likely costs of the clwity fpr the next year. Trustee 13 DecEmbeF 20 .
•Map Char4table Tntst• Independent Examinerfs Report to the Trnstees For the year ended 31 March 2024 We report on the accounts of the Trnst for the year ended 31 March 2024 which are set o on pages 6 to 7. Res ive tèSPonbl[l1les of tnths and examiner As the dwitys trustpes you are rwible f(pr the pryation of the accounts. You consideT that the audit requirement of 8tIOn 144 of the Clwities Act 11 (the Act) does not apply. It is my responsiw to state. on the basis of PrOdureS specified in the General Dtréctions "ver( by Charity Commi&sioners Imder tIOn 145{5)(b) of the ACL whether pthlcular i i matters,have come knm¥AttentiotL exanwiatiott was. carried out in accordan with the General Directions given by the the charity and a comparisl on" of the accounts presented with those records. It also iDdu4eB consideration of any tWU8ual items or,disdosures in the accoun15, and seeking explanations from you as trustees concern8 any such matters. The pr(edureS undertaken do, not provide all the evidence that would be requxred in an audit and cortsequently do not e4)r£ss an audit opinion on the view given by the account& (l) Which sives me TOnable Ca tD believe that in any material respect the tequbemeDts to keep accounlitis records in accordan with section 130 of the Actr, and to prepare accounts which accord with the aecounling records and to Ci)mply with the accountkng tequitenTrent of the Art. have not Iten met, or (2) to whicfv in my Opinio &tteThlxon should be dr&wn in order to enable a prnper understanding of the accounts to reache(L MTr. S. Yodai 13 Decaiiber'2(Y24 SEFfoN YODAIKEN & CO Fairways House Manchester M25 9WS Page 5
.Magen table TnJst* Statement of Financial Activltles For the year ended 31 March 2024 Notss Incr>7Me resources Voluntary line 6,Otx) 175,642 160,735 Surplus on sale of proFty IZ615 180F50 289J98 335,110 4,6 19,850 8,on 43,4n 251,2 359ffl8 Net defiatfot the year Surplus B/F {2} IhS7,939 (70,240) 1,758,179 SuTpIu5 C/F I.616887 1,687,939 Pag¢ 6
•Magen Charitable Trust. Balance Sheet as at 31 March 2024 1,194 1,19A, Debtors Cash at bat 265.ln 1741K 248x47 37,179 047&3) 4963 (3,396> ¢ditots: duejyithin the year 4¥3A48 I16 1.6S7,939 Fund8 Ih16,8VI 1,687,939 Approved ty the Ti¥uBtees on 13 December. 2024 and Si1 oftthei&lElialfr. P7
•Magen Charitable Tntst. Noles to the Financial Statements FOT the year ended 31 March 21124 l. Ac¢ounting Policies applicable accounting standards and the charities ststeM of recoMed practise on aLTolI1ng by (CharlfiesSORP FRS102) and the Cywities Act xni). Z Voluntary inco]iie 2024 2023 Donations 7() Investment ikne 20 174872 160.735 175 5. Govenwice costs 2024 2023 legal and accoubi¥ancy 7096 175 4A41 137 8J)n 678 20 gern. chaTg8 (net) 10fj91 10,7 3J3 1,756 IJ04 CIeaming 357 Heat and ]igh"t 280 19,850 Page 8
*Magen chItable Trust• Notes to the Financial Statemenb {conYd ) For thE year endEd 31 March 2024 2024 B/F 1,194491 Disposal C/F 1,1%491 Tr&8tees rev.alued the assets as at 31 March 21xr2. Makeup of thet Ix)ok yaluÈ C08t Revaluation 556,526 637,%5 I,IW91 20 I1268 182334 65,9(13 248237 2023 Trade credltors Bank overdraft 221 1,175 2,000- 5.13B 9."075- 14,7&3 Pag¢ 9