CHARITY REGISTRATION NUMBER: 326692 COLLEL CHIBATH YERUSHALAYK RABBI MEIR BAAL HANES TRUST Financial Statements For the year ended 31 August 2024 COHEN ARNOLD Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NWII OPU
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Financial Statements Year ended 31 August 2024 PAGES Trustees, Annual Report Ito3 Independent Auditor's Report to the Members 4t07 Statement of Financial Activities Statement of Financial Position Statement of Cash Flows 10 Notes to the Financial Statements Ilto15
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Trustees, Annual Report Year ended 31 August 2024 The trustees present their report and the financial statements of the Charity for the year ended 31 August 2024. Reference and adjninistrative details Registered charity name Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes Trust Charity registration number 326692 Principal office The Knoll Fountayne Road London N16 7EA Tbe trustees Mr E Englander Mr L Stempel Mr E Kernkraut HonorAry seeretary Auditor Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NWI I OPU Structure? governYdDce and management The Charity is governed by a Declaration of Trust dated 13 September 1984 and is an unincorporated charity registered with the Charity commission (Registration No. 326692). The Trustees administer the day-to-day affairs of the Charity. None of the Trustees has any beneficial interest in the Charity. All Trustees give their time voluntarily and no benefit or expense was paid to them in the year. It is not currently the intention of the Trustees of the Charity to appoint new Trustees. Should the situation change in the future, the Trustees will apply suitable recruitment training and induction procedures. Objectives and Activities The Charity is established to further both in the United Kingdom and abroad those purposes recognised as charitable by English Law with the particular purpose of raising funds for Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes, a charitable organisation in Israel providing relief and support to needy persons throughout the country. The Trustees confirn] that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charitable Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. Achievements and performance During the year donations received and investment income aggregated £1,278.69] and grants were made totalling £1,211,656 towards relA¢ving poverty.
COLLEL CHIBATH YERUSHALAYIM, II4BBI MEIR BAAL HANES TRUST Trustees Annual Report (conlinuéd) Year ended 31 August 2024 Financial review The financial position of the chartty is satisfactory. The Statement of Financial Activities shows a net sury)lus for the year of £54,736 (2023: £50,280 deficit) and total reserves of £273,425 (2023: £218,689) which are the free reserves of the charity. The financial results of the Charity's activities for the year to 31 August 2024 are fully reflected in the attached Financial Statements together with the Notes thereon. Prineipal Funding Sources The Charity's principal funding sources are voluntary donations from the general public and from the annual fundraising dinner. Reserves Policy Funds are periodically remitted to Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes in Israel on a regular basis. As thcre are no other commitments the Trustees do not deem it necessary to maintain specific reserves . Principal Risks and Uncertydllltles The Trustees have assessed the major risks to which the Charity is exposed particularly those relating to operations and finances. It is satisfied that the systems are in place to mitigate its exposure to those risks. Plans for future periods The charity plans to continue the activities outlined above in forthcoming years subject to satisfactory incoming resources. Trustees, responsibilities statement The trustees are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, of the Charity for that period, In preparing these financial stat¢ments, the truste¢s are required to: select suitable accounting policies and then apply them consistently. obs¢rv¢ the methods and principles in the applicable Charities SORP: make judgments and accounting ¢stimates that are reasonable and prudent, state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements. prepare the financial statement5 on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Trustees, Annual Report (conlinuéd) Year ended 31 August 2024 The tNstees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclos¢ with reasonable accuracy at any time thc financial position of thc Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicablc Charities (Accounts and Reports) Regulations. and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, annual report was approved on .V4. m-CH trustees b and signed on behalf of th¢ board of Mr E Englander Trustee
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Independent Auditor's Report to the Members of Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes Trust Year ended 31 August 2024 Opinion We have audited the financial statements of Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes Trust (the 'Charity') for the year ended 31 August 2024 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {Unit¢d Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the Charity's affairs as at 31 August 2024 and of its incorning resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordanc¢ with United Kingdorn Generally Accepted Accounting Practice. have been prepared in accordance with the requir¢m¢nts of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we hav¢ obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern W¢ have nothing to report in resp¢ct of the following matters in relation to which the ISAS (UK) require us to report to you where.. the truste¢s' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate. or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when th¢ financial statements are authorised for issue.
COLLEL CIUBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Independent Auditor's Report to the Members of Collel Cbibath Yerushalayim, Rabbi Meir Baal Hanes Trust (eonlinued) Year ended 31 August 2024 Other information The other information comprises the inforniation included in the annual report, other than the financial statemcnts and our auditor's rcport thereon. Thc trustees are responsiblc for the other infonnation. Our opinion on the financial statements does not cover the other infomiation and. except to the extent otherwise explicitly stated in our reporL we do not express any fonn of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infonnation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detern]ine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed. we conclude that there is a material misstatement of this other infonrftation, we are required to report that fact. We have nothing to report in this regard. MAtters OD which we are required to report by exception In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material rnisstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: the inforniation given in the trustees, report is inconsistent in any material respect with the financial statements. or adequate accounting records have not been kept. or the financial statements are not in agreement with the accounting records and returns. or w¢ have not received all the inforniation and explanations w¢ require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibi lities statement. the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Independent Auditorls Report to the Members of Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes Trust (coNlinuÈd) Year ended 31 August 2024 Auditor's responsibilities for the audit of the finaneial statements Our objectives are to obtain reasonable assurance about whether thc financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or eor and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting )egularItIeS, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks that are applicable to the company through discussion with the trustees and identified which were most significant with respect to the financial statements. We identified financial reporting legislation (including related companies legislation) and taxation legislation as being most significant to these financial stat¢m¢nts. We communicated these identified frameworks throughout our audit team and remained alert to any indications of of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and Capability to identify or recognise non-compliance with laws and regulations. We discussed with the trustees the policies and procedures regarding compliance with these legal and regulatory frameworks. We assessed the susceptibility of the company's financial statements to material misstatement due to non-compliance of legal and regulatory frameworks, including how fraud might occur, by enouiry with the trustees during the planning and finalisation phases of our audit and using proprietary disclosure checklists. This was d¢t¢rmined to be low. Based on this understanding we designed our audit procedures to identify non-compliance with the identified legal and regulatory framework, which were part of our procedures on the related financial statement items. Our procedures included reviewing the company's internal controls policies and procedures, reviewing the minutes of board meetings and correspondence with regulatory bodies including HMRC, testing transactions outside the normal course of the business and journal entries, and discussions with the trustees. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or eOr, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intentional omissioiis, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on th¢ effectiveness of the internal control.
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Independent Auditor's Report to the Members of Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes Trust (confinugd) Year ended 31 August 2024 Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimatcs and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Charity's ability to continue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However. future events OT conditions may cause the Charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with thos¢ Charged with gov¢rnance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the Charity's members, as a body, in accordance with section 144 of the Charities Act 201 l and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity's tnembers those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's members as a body, for our audit work, for this report. or for the opinions w¢ have fornied. Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NWI I OPU
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Statement of Financial Activities Year ended 31 August 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endoivments Donations and legacies Investment income 1,274,759 3,932 1,278,691 1274,759 3,932 1278,691 1,030,175 2,471 1,032.646 Total income Expenditure Expenditure on raising funds: Costs of raising donations and legacies Expenditure on charitable activities TotAI expenditure 5,843 7,8 1,218.112 1,223,955 5,843 1218,112 1,223,955 4,886 1,078,040 1,082,926 Net ineomel{expenditure) And Det movement ID funds 54.736 54,736 {50,280) Reconciliation of funds Total funds brought forward Total funds carried forward 218.689 273,425 218.689 268,969 218,689 273,425 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages I I to 15 form part of these finarteial statements.
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Statement of Financial Position 31 August 2024 2024 2023 Note Fixed assets Investments 13 100 100 Current assets Cash at bank and in hand 281,775 230,159 Creditors: amounts falling due Ivithin one year 14 (8.450) (11,570) Net current assets 273 J25 273,425 218.589 Total assets less current liabilities 218.689 Funds of tbe charity Unrestricted funds 273,425 273,425 218,689 218,689 Total charity fuDds 15 These financia statements were approved by the board r> MhQ*l. ... , and are signed on behalf of the board by: f trustees and authorised for issu¢ on Mr E Englander Trustee Mr L Stem Trustee The notes on pages 11 to 15 form part of these financial statements.
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Statement of Cash Flows Year ended 31 August 2024 2024 2023 Cash flows from operating activities Net incomd{expenditure) Adjustmen¢sfor.' Other interest receivable and similar income 54,736 (50,280) (3,932) (2,471) Changes in.. Trade and other creditors (3,120) 47,684 3,840 (48,911) 2,471 (46,440) Cash generated from operations Interest received 3,932 51,616 Net cash froml(used in) operating activities Net increasel(decrease) in cash and casb equivaleDts Cash and cash eqllivalents at beginning of year CAsh and cash equivalents at end of year 51,616 230,159 281,775 (46,440) 276,599 230,159 The notes on pages I I to IS form plrt of these finaneial s¢atem¢Dts. io-
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BL4L HANES TRUST Notes to the Flnancial Statements Year ended 31 August 2024 General information The charity is a rcgistered charity in England and Wales and is unincorporated. The address of th¢ principal officc is The Knoll. Fountayne Road, London N16 7EA. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. The financial statements are prepared in Sterling, which is the functional currency of the entity. The charity constitutes a public benefit entity as defined by FRS 102. Going Concern There are no material uncertainties about the charity's ability to continue. ConsolidatlOD The charity has not prepared consolidated financial statements on the basis that the activities of the charity's investment are not material for the purpose of giving a true and fair view. JudgemeDts and key sources of estimg4tlOD uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptioiis that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no judgements made by the trustees in the application of these accounting policies that have significant effect on the financial statements nor any estimates with a significant risk of material adjustment in the next year. Fund aeeounting 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 earniarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the ternis of an appeal, and fall into one of two sub-classes.. restricted income funds or cndowment funds.
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Notes to the Financial Statements (continued) Year ended 31 August 2024 Accounting policies (coniinuedj Incoming resourceg All incolne is included in thc statement of financial activities when cntitlement has passed to the charity. it is probable that thc economic ben¢fits associated with the transaction will flow to the charity and the amount can be reliably measured. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Donations represent voluntary amounts received during the year. Investment income is included in the accounts when receivable. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising ndS includes the costs of all fundraising activiti¢s, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitsble activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. IDvestments Fixed asset investments are recorded at cost. FlnanciAI instruments A financial asset or a financial liability is recognised only when the entity becom¢s a paty to th¢ contractual provisions of the instrument. Basie financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the aangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations received 1.274,759 1274,759 1,030,175 1,030,175 12-
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Notes to the Financial Statements (eontinved) Year ended 31 August 2024 Investment ineome Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 3,932 3,932 2,471 2,471 Costs of rnising donations and legacies Unrestricted Total Fullds Unrestricted Totsl Funds Funds 2024 Funds 2023 Costs of raising donations and legacies - Donations 5,843 5,843 4,886 4,886 Expenditure on cbarit2ble activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations paid Support costs 1,211.656 6,456 ,218,112 1,211,656 6,456 1,218,112 1,073,174 4,866 1,078,040 1,073,174 4,866 1,078.040 Expenditure on Charitable Activities by activity type Grant funding of activities Support costs Total funds 2024 Total fund 2023 Donations paid Governance costs ,211,656 1211,656 6,456 1,218,112 1,073.174 4,866 1,078,040 6,456 6,456 ,211,656 Analysis of support costs 2024 2023 Auditor s remuneration Bank charges and sundry expenses 4000 1,656 6,456 3,840 1,026 4,866 10. Analysis of grants All antS were institutional and were paid to Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes - Israel, for the purposes of alleviation of poverty. 13-
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Notes to the Financial Statements (continuéd) Year ended 31 August 2024 11. Staff costs No salaries or wages have been paid to any employee or Trustee by the charity. No staff were employed by the charity during the reporting period. 12. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. No trustee expenses have been inCud. 13. Investments Other investments Cost At I September 2023 Additions 100 At 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 i( 100 100 All investments shown above are held at valuation. The charity owns l OOO/o of Splendora Limited (Company No. 2764889). a company incorporated and registered in England and Wales. Consolidated financial statements have not been prepared on the ba51S that the activities of Splendora Limited are not material to the Charity for the puryose of giving a true and fair view. 14. Creditors: amounts falling due within One year 2024 2023 Other creditors 8,450 11.570 14-
COLLEL CHIBATH YERUSHALAYIM, RABBI MEIR BAAL HANES TRUST Notes to tbe Financial Statements Ict>ntiMued) Year ended 31 August 2024 15. Analysis of eharitsble funds Unrestricted funds At I September 2023 At 31 August 20 24 Income Expenditure General funds 218,689 1,278,691 (1,223,955) 273,425 At I September 2022 At 31 August 20 23 Income Exp¢nditure General funds 268,969 1,032,646 (1,082,926) 218,689 16. Analysls of net assets between funds Unrestricted Total Funds Funds 2024 Investments Current assets Creditors less than l year Net assets 100 281,775 (8,450) 273,425 100 281,775 (8,450) 273,425 Unrestricted Total Funds Funds 2023 Investments Current assets Creditors less than l year 100 230,159 (11,570) 218,689 100 230,159 (11,570) 218,689 Net assets 17. ADAlysis of changes in net debt At At I Sep 2023 Cash flows 31 Aug 2024 Cash at bank and in hand 230,159 51.616 281,775 18. Related parties During the accounting period the Charity receiv¢d charitable donations aggregating £143.951 from Ker¢n Association Limited. Mr E Englander , a trustee of this Charity is also a Governor of the donor Charitable Company. 15-