Central Hendon Mikvah - Charities report - 22.2

REGISTERED COMPANY NUMBER: 07334969 (England and Wales)

REGISTERED CHARITY NUMBER: 1140205

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2022

FOR

CENTRAL HENDON MIKVAH

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

Notes to the Financial Statements

6

to

8

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 31 August 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 aims

The objectives of the charity is the promotion of religion by the construction and maintenance of a new purpose built mikvah for use by the orthodox Jewish community of North West London. The charity also hopes to raise money for such projects and other charitable operations including the relief of poverty.

Public benefit

The Trustees confirm they have referred to the guidelines contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policies for the year.

FINANCIAL REVIEW

Reserves policy

The present level of funding is adequate to meet the trustees objectives. At the balance sheet date the charity had total reserves of £889,105 (2021: £918,487). The trustees consider the financial position of the charity to be satisfactory.

Going concern

The accounts have been prepared on a going concern basis because the trustees are satisfied that the charity is able to raise sufficient funds to meet it's liabilities.

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 company has 4 trustees; names of members are listed below. The charity is organised so that the trustees meet regularly to manage the affairs of the company.

Risk management

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

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07334969 (England and Wales)

Registered Charity number

1140205

Registered office

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

Trustees

Mr B Morris

Mr M A Richman

Mrs E C Noe-Bloom

Mr D D Morris

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 23 May 2023 and signed on its behalf by:

Mr M A Richman - Trustee

Independent examiner's report to the trustees of Central Hendon Mikvah ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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.

Aryeh Melinek FCA

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

23 May 2023

2022

2021

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

114,498

346,703

EXPENDITURE ON

Raising funds

-

14,532

Charitable activities

Charitable activities

143,880

112,231

Total

143,880

126,763

NET INCOME/(EXPENDITURE)

(29,382

)

219,940

RECONCILIATION OF FUNDS

Total funds brought forward

918,487

698,547

TOTAL FUNDS CARRIED FORWARD

889,105

918,487

2022

2021

Total

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

4

726,937

714,899

CURRENT ASSETS

Debtors

5

192

1,838

Cash at bank

165,607

203,126

165,799

204,964

CREDITORS

Amounts falling due within one year

6

(3,631

)

(1,376

)

NET CURRENT ASSETS

162,168

203,588

TOTAL ASSETS LESS CURRENT LIABILITIES

889,105

918,487

NET ASSETS

889,105

918,487

FUNDS

Unrestricted funds

889,105

918,487

TOTAL FUNDS

889,105

918,487

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 23 May 2023 and were signed on its behalf by:

Mr M A Richman - 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.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Taxation

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

Fund accounting

All funds held are unrestricted income funds.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Legal status of the charity

The charity is a company limited by guarantee and has no share capital. Liability of each member in the event of winding up is limited to £10.

2.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2022

2021

£

£

Depreciation - owned assets

16,792

16,215

Other operating leases

25,000

25,000

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

4.	TANGIBLE FIXED ASSETS

Long

leasehold

£

COST

At 1 September 2021

810,747

Additions

28,830

At 31 August 2022

839,577

DEPRECIATION

At 1 September 2021

95,848

Charge for year

16,792

At 31 August 2022

112,640

NET BOOK VALUE

At 31 August 2022

726,937

At 31 August 2021

714,899

5.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Prepayments and accrued income

192

1,838

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

476

476

Accruals and deferred income

3,155

900

3,631

1,376

7.	RELATED PARTY DISCLOSURES

During the year, £7,675 (2021: £25,000) was donated to the charity from a company under the control of one of the trustees.