Matonot Limited - Charities report - 22.2

REGISTERED COMPANY NUMBER: 00981941 (England and Wales)

REGISTERED CHARITY NUMBER: 1157859

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

MATONOT LIMITED

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

9

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and activities

The objectives of the charity are to advance religion in accordance with the Orthodox Jewish faith, the relief of poverty, and to support other charitable activities as are recognised by English law as charitable.

In furtherance of its objectives the charity continues to advance and donate funds and support to other charities with similar activities with similar objectives to those meeting the charity's objectives.

Public benefit

Each year the trustees review their objectives to ensure that they continue to reflect the trustees' and the charity's aims. in carrying out their review the trustees have considered the Charity Commission's general guidance on public benefit and in particular to its supplementary guidance, with focused regard towards the advancement of the Orthodox Jewish faith and all its facets for the public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Given the currently depressed economic conditions in both the UK and worldwide, the trustees regard the performance of the charity during the current year as satisfactory, and will look to an improvement in economic confidence to boost the charity's performance in the future.

FINANCIAL REVIEW

Financial position

The Trustees consider that the charity has met its charitable objectives for the year and look to ways in which charitable contributions for the future can be sustained and increased, subject to restraints imposed by the continuingly depressed economic conditions.

Grant Making Policy

The charity accepts applications from representatives of various charities which are reviewed by the trustees on a regular basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

The charity is a company limited by guarantee. The charity is managed exclusively by 5 trustees. The day to day activities of the charity are managed by Mr J Lipschitz. the power of the the appointment and removal of trustees vests with the board of trustees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00981941 (England and Wales)

Registered Charity number

1157859

Registered office

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

Trustees

J Lipschitz

A Lipschitz

R P Twerski

M Twerski

M Brander

Company Secretary

Mrs F Lipschitz

Independent Examiner

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

Approved by order of the board of trustees on 14 February 2023 and signed on its behalf by:

J Lipschitz - Trustee

Independent examiner's report to the trustees of Matonot Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Danny Fine, FCA

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

14 February 2023

2022

2021

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

72,120

41,200

Investment income

2

8,611

8,000

Total

80,731

49,200

EXPENDITURE ON

Charitable activities

Charitable activities

77,990

49,651

NET INCOME/(EXPENDITURE)

2,741

(451

)

RECONCILIATION OF FUNDS

Total funds brought forward

1,243,148

1,243,599

TOTAL FUNDS CARRIED FORWARD

1,245,889

1,243,148

2022

2021

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investment property

5

80,000

80,000

CURRENT ASSETS

Debtors

6

1,193,378

1,193,378

Cash at bank

4

3,362

1,193,382

1,196,740

CREDITORS

Amounts falling due within one year

7

(13,241

)

(13,572

)

NET CURRENT ASSETS

1,180,141

1,183,168

TOTAL ASSETS LESS CURRENT LIABILITIES

1,260,141

1,263,168

CREDITORS

Amounts falling due after more than one year

8

(14,252

)

(20,020

)

NET ASSETS

1,245,889

1,243,148

FUNDS

Unrestricted funds

1,245,889

1,243,148

TOTAL FUNDS

1,245,889

1,243,148

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 14 February 2023 and were signed on its behalf by:

J Lipschitz - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	INVESTMENT INCOME

2022

2021

£

£

Rents received

8,611

8,000

3.	GRANTS PAYABLE

2022

2021

£

£

Charitable activities

76,320

47,974

The total grants paid to institutions during the year was £54,89 (2021: £47,974). A summary of grants made to institutions during the year is as follows:

Name of institution

Amount (£

)

UTA

1,110

TTBA Belz

1,951

Hazlemount

1,500

Side by Side

1,101

Beis Aharon Trust

1,000

MLT

3,160

Belz Machnofka Shul

4,600

CML

1,343

AHT

1,704

MHBM

5,912

FOBA

11,580

AYBM

800

Other

18,628

Total grants to institutions

54,389

4.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2022 nor for the year ended 30 September 2021.

5.	INVESTMENT PROPERTY

£

FAIR VALUE

At 1 October 2021

and 30 September 2022

80,000

NET BOOK VALUE

At 30 September 2022

80,000

At 30 September 2021

80,000

6.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

1,193,378

1,193,378

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts (see note 9)

5,005

5,005

Trade creditors

5,736

6,767

Other creditors

1,000

-

Accruals and deferred income

1,500

1,800

13,241

13,572

8.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans (see note 9)

14,252

20,020

9.

LOANS

An analysis of the maturity of loans is given below:

2022

2021

£

£

Amounts falling due within one year on demand:

Bank loans

5,005

5,005

Amounts falling between one and two years:

Bank loans - 1-2 years

5,005

5,005

Amounts falling due between two and five years:

Bank loans - 2-5 years

9,247

15,015

10.	RELATED PARTY DISCLOSURES

The following donations were received during the year from related parties who are under common control:

Name of Related Party

Amount (£

)

Bellamore Trading Ltd

32,100

Hazlemount Ltd

1,400

Continental Imports

21,600

Maplecroft Consultants Ltd

8,220

Grovepalm Ltd

1,100

Beis Aharon Charitable Trust Ltd

2,700

Total related party transactions

58,120