For the year ended 31 December 2018 Company Number

The Nlinyan

Report and Fmancrai Statements

For the year ended 31 December 2018

Company Number: 05603904

The Minyan (Limited by Guarantee)

Annual report and financial statements for the year ended 31 December 2018

Contents

Page:

Report of the trustees

Independent Examiner's Report

Statement of finanmai activities

Balance sheet

Statement of cash flows

Notes formmg part of the financial statements

Trustees

B Iczkovits

U Neufeld

Secretary and registered office

R Brayam, 20 Highcroft Gardens, London, NW11 OLX

Company number

5603904

Charity number

1113311

Bankers

Barclays Bank Pic, Marble Arch Branch, PQ Box 32016, London, NW1 2ZH


Report of the trustees for the year ended 31 December 2018

The trustees present their report and the unaudited financial statements for the year ended 31 December 2018

Reference and administrative information

The Minyan is a company limited by guarantee and is a registered chanty governed by its memorandum and articles ofassomation. The company was registered on 26 October 2005 and began its charitable activities on 12 January 2006 TheCharity is registered with the Chanty Commission in England and Wales with Charity number 1113311.The Companynumber is 5603904.

The charity is also known as the following. The Minyan, Kehillas Ohel Moshe and Torah Way. The main operating addressof the charity is. 100-102 Leeside Crescent, London, NW11 OLA and the company's registered office is: 20 HighcroftGardens, London, NW11 OtX

The objects of the charity are to promote the Orthodox Jewish religion and in parbcular to maintain a synagogue providingfacikties for prayers, religious worship and religious studies.

Board of Trustees

The directors of the charrtable company are its trustees for the purposes of Chanty Law and the Companies Act andthroughout this report are collectively referred to as the trustees

The trustees of the company were:

B IczkovitsU Neufeld

Trustees and other members of the management committee are appointed by members of Kehillas Ohel Moshe.

Objectives, activities, achievements and performance

The charity was formed to promote the Orthodox Jewish rekgion, through the provision of synagogue services and rekgiouseducation During the year under review, membership of Kehillas Ohel Moshe — the working name of thesynagogue, increased to 100 Chantable appeals are held from time to time in order to raise funds to cover ongoingdiscretionary expenditure.

The Start your Day the Torah Way program provided daily lectures presented by guest speakers from across the globeThese lectures are well attended by local residents and members. The trustees look forward to the program's continuedsuccess in the forthcoming years. These activities undertaken by the charity provided public benefit.

The charily will continue to provide these and similar services in the coming years. The management committee would liketo take this opportunity to thank all of the generous donors throughout the year, as without their support, the charity'sprojects would not have been possible

The TrusteeS confirm their compliance wah the duty to have due regard to the Public Benefit guidance published by theCharity Commission when reviewing the Charity's aims and objectives and in planning future activities.

Reserves policy

The current distribution pohcy of the trustees is to distribute liquid reserves in furtherance of the objects of the charity. Areasonable cash balance is maintained to meet the chanty's expenses as they fall due

Risk management

The trustees monnor cash ffove to ensure that there are sufficient funds to cover the monthly payments on the mortgage

They do not consider that there are any other spemfic risks attached to the running of the charity that call for action to betaken.


Report of the trustees for the year ended 31 December 2018 (continued)

Financial review

The primary source of income of the charity the amounts received from membership and the amounts received from renting100 and 102 Leeside Crescent Income was also generated through voluntary donations from members. Voluntarydonations of E154,094 were made to the charities unrestricted funds and E214,277 to restricted funds dunng the year.

At the end of the finanmal penod the charity's unrestricted reserves were E973,614, an increase of E98,051 since theprevious year. The charity's restricted reserves were F32,436, a decrease of E7,968 since the previous year

The charity's bank balances were E68,497, a decrease of E1,781 since the previous year. This amount included cashbalance of E28,485 relating to unrestricted funds and E40,012 relating to restncted funds

None of the charities funds were materially in defimt at the end of the finangal period.

The trustees do not consider there to be any uncertainties about the charity's ability to continue as a going concern

Trustees' responsibilities

The charity trustees (who are also the directors of the company for the purposes of company law} are responsible forpreparing the trustees' annual report and the financial statements in accordance with applicable law and United KingdomAccounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charay trustees to prepare financial statements for each year which give a true and fair view ofthe state of affairs of the company and of the incoming resources and appkcation of resources, including the income andexpenditure of the company for that year In preparing these financial statements, the trustees are required to

~ select suitable accounting policies and then apply them consistently;

~ observe the methods and principles in the Charities SORP;

~ make judgements and estimates that are reasonable and prudent,

~ state whether applicable UK Accounting Standards have been followed, subject to any material depaduresdisclosed and explained in the financial statements; and

~ prepare the finanmal statements on the going concern basis unless it is inappropnate to presume that thecompany will continue on that basis.

This report has been prepared in accordance with the provisions applicable to small companies entitled to the smallcompanies exemption

On behalf of the Board

7-ed'(Director

Q tr II y 4.' L 0

Zgjo~]l~

The Idinysn (Umitsd by Guarantee)

Independent Examiner's Report to the Trustees of The Minyan (Limited by Guarantee}

I report on the accounts of the Company for the year ended 31 December 2018, which an: set out cn pages 4 to 13.Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) sre responsible for the pmparationof the acoounts in accordance wkh the requirements of the Companies Act 2006 ("the 2006 Act"). The charity's trusteesconsider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination wneeded.

It ls my msponsibllky to:~ examine the accounts under section 145 oF the Act,~ to follow the procedures lakl down in the general Directions given by Ihe Charity Commission under section145(5)(b) of the Charities Act, andv to stats whether patticular matters have come to my attention.

Basis of independent examine@a report

My examination was cerned out in aocordanca with the general Directions given by the Charily Commission. An examinationtncludes a review of ths accounting records kept by the charity and a comparison of the accounts presented wilh those records.Ii abo includes conaderabon of any unusual items or disclosures in the accounts, and seeking explanations from you astrustees concerning sny such matters. The procedures undertaken do not provide all the evidence that would be required in anaudit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited tothose matters set out in the statement below.

Independent examiners ststwnent

In connection with my examination, no matter has come to my attention which gnres me reasonable cause to believe that in.any material respect,

~ atxmunting records were not kept in accordance with secbon 386 of the CompaniesAct 2006; or~ the accounts do not accord with such records; or~ the accounts do not comply with relevant accounting requirements under secbon 396 of the Companies Act 2006othe~ than sny requirement that the accounts give a 'true and fair view which is not a matter considered as part of anindependent examinadon; or

~ the accounts have not been prepared in accordance with the Charities SORP (FRS102).I have no concerns and have come across no other matters in connection with the examination to which attention should bedrawn in this report in order to enable a proper understanding of tlw accounts to be reached.

Michael, Pasha & CoChartered Accountanbr220 The vale, London, Nuv11 SsR

C L)~l)rq


Statement of financial activiTies (including income and expenditure account) for the year ended 31 December 2018

Income

Unrestrictedfunds

Note 6

Restrictedfunds

6

2018Total

6

2017Total

Income from donationsDonations 2 154,094 214,277 368,371 203,348

Income from charitable activities:

Rental incomeInterest receivable and similar income

21,9901,240

21,990 23,86319 1,259 721

Total Income 177,324 214,296 391,620 227, 932

Expenditure

Costs of raising fundsCost of chantable activitiesOther costs

1,28889,55067,983

10,87598,946

96

12,163188,496

68,079

13,737118,57851,315

3 158,821 109,917 268,738 183,630

Interest payabie 4 32,799 32,799 32,799

Total expenditure 191,620 109,917 301,537 216,429

Net income (14,296) 104,379 90,083 11,503

Gross transfers between funds 112,347 (112,347)

Net movement in funds during the year 98,051 (7,968) 90,083 11,503

Total funds brought forward 875,563 40,404 915,967 904,464

Total funds carried forward 973,514 32,436 1,006,050 915,967

The statement of financial activities includes all gains and losses recognised in the year. AII incoming resources and resourcesexpended derive from continuing activities

The notes on pages 7 to 13 form part of these finanual statements


Balance sheet at 31 December 2018

Fixed assetsTangible fixed assets

Note 82018

1,592,818

2017

1,614,322

Current assetsDebtorsCash at bank

8 16,04668,497

17,87570,278

Creditors: amounts fa0lng duewithin one year

84,543

9 (7,736)

88, 153

(36,769)

Net current (liabilities)/assets 76,807 51,384

Total assets less current liabilities 1,889,825 1,665,706

Creditors: amounts falling dueafter more than one year 10 (663,575) (749,739)

Net assets 1,006,050 915,967

Unrestricted fundsGeneral funds

Restricted funds

973,614

32,436

875,563

40,404

Total funds 12 1,006,050 915,967

For the year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the CompaniesAct 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question inaccordance with section 476.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 vnth respect toaccounting records and the preparation of financial statements.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the smallcompanies' regime.

Approved by the trustees on 2~ ~ ~ f 2- 2 ' l and signed on their behalf by

M~- r&~4FF(Director

U mf v'FEL 0

The notes on pages 7 to 13 form part of these finanmal statements.


Statement of cash flows for the year ended 31 December 2018

Note 82018 2017

Cash provided by operating activities 117,285

Cash lfows from rnvesring activiiiesInterest incomePurchase of tangible fixed assets

1,259(13,836)

721(16,903)

Cash used in investing activities (12,577)

Cash flows from Onancfng actiwtesRepayments of borrowing

Cash inflows from new borrowing(106,489) (33,670)

Cash used in finance activities (106,489)

Decrease in cash and cash equivalents in the year (1,781)

Cash and cash equivalents at the beginning of the year 70,278

Cash and cash equivalents at the end of the year 68,497

The notes on pages 7 to 13 form part of these financial statements


Notes forming part of the financial statements for the year ended 31 December 2018

1 Acm&anting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughoutthe year.

(a) Bears of accounting

The financial statements have been prepared in accordance with Accountmg and Reporting by Chanties. Statementof Recommended Practice applicable to charities preparing their accounts m accordance with the Finanmal

Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (CharitiesSORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), theChairties Act 2011 and the Companies Act 2006.

The company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are rnrtratly

recognised at historical cost or transaction value unless otherwise stated in the relevant accountmg policy note(s)

(bj Going concern

The trustees do not consider there to be any uncertainties about the charity's ability to continue as a gomg concern

(c) Company statusThe charity is a company limited by guarantee In the event of the chanty being wound up, the liability in respect ofthe guarantee is limited to F10 per member of the chanty.

(d) Fund accounting~ Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general oblectives of

the charity~ Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of

an appeal.

Ie) IncomeIncome is recognised when the charity has entitlement to the funds, any performance conditions attached to theitem(s) of income have been met, it is probable that the income will be received and the amount can be measuredreliably. Receipts from membership and other donations relating to the main charitable activities of the charity areconsidered a gift to the chang and are recognised when they are received Income from voluntary donations andappeals is also normally recognised only when received. Membership donations paid in advanced are not deferred

Rental income and interest on funds held on deposit are included when receivable and the amount can be measuredreliably by the charity.

(fl Donated goods, feei))ties and servicesDonated professional services and donated facilities are recognised as income when the charity has control over theitem, any conditions associated with the donated item have been met, the receipt of economic benefit from the useby the charity of the item is probable and that economic benefit can be measured reliably. In accordance with theChanties SORP (FRS 102), general volunteer time of members is not recognised

On receipt, donated professional services and donated famlaies are recognised on the basis of the value of the gift tothe charity which is the amount the charity would have been willing to pay to obtain services or famhties of equivalenteconomic benefit on the open market; a corresponding amount is then recognised in expenditure In the same penod


Notes forming part of the financial statements for the year ended 31 December 2018

1 Accounting policies (continued )

Volunteers

General volunteers assrsted wtth the day-to-day running of the charity. This included managing the charity'spremises, finances and fundraising efforts The synagogue services and regular lectures were also provided and co-ordinated by volunteers.

(h) Resources expendedExpenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it tsprobable that settlement will be required and the amount of the oblgation can be measured reliably Expenditure isclassified under the following activity headings;

Costs of raising funds comprise the costs associated with attracting voluntary income.

Cost of charitable activities comprises those costs incurred by the charity m the delrvery of its activities and servicesfor its benefimanes It includes both costs that can be allocated directly to such activities and those costs of anindirect nature necessary to support them

Other costs include those costs associated with meeting the constitutional and statutory requirements of the charityand include the accounting fees and costs knked to the strategic management of the charrty

Tangible fixed assetsFixed assets (exciudmg investments) are stated at cost less accumulated depreciation. Depreciation is provided atrates calculated to write off the cost, less estimated residual values, all fixed assets except freehold land, over theirexpected useful lives. It is calculated at the following rates:

Buildings

Equipment and fittings

2%%uo per annum straight line basis25% per annum straight line base

Cash at bank and in handCash at bank and cash in hand rncludes cash and short term highly liquid investments vnth a short matunty of threemonths or less from the date of acquismon or opening of the deposrt or similar account.

Crediiors and provisionsCredktors and provisions are recognised where the charity has a present obligation resufiing from a past event thatwill probably result in the transfer of funds to a third party and the amount due to settle the obligation can bemeasured or estimated reliably. Creditors and provisions are normafiy recognised at their settlement amount alterallowing for any trade discounts due

Financial instruments

The trust only has financial assets and fmanaal fiatxfibes of a kind that qualify as basic fmancrai rnstruments. Basicfinancial instruments are initially recognised at transaction value and subsequently measured at their settlementvalue wirh the exceptton of bank loans which are subsequently measured at amortised cost using the effectiveinterest method.

Finance costs are charged to profit over the term of the debt so that the amount charged is at a constant rate on thecarrying amount.

Finance costs mciude issue costs, which are initially recognised as a reduction in the proceeds of the associatedespial mstrument.

(m) Concessionary loansConcessionary loans are those loans made or received by the charrty to further its purposes and any interestcharged is below the prevailing market rates

Concessionary loans are initially recognised and measured at the amount received or pard, vnth the carrying amountadjusted in subsequent years to reflect repayments and any accrued interest and adjusted if necessary for anyimpairment.

The hlinyan (Limited by Guarantee)

Notes forming part of the financial statements for the year ended 31 December 2018 (continued)

2 DonationsUnrestricted Restricted 2018 201 7

funds funds Total Total6 8 f

Total donations 154,094 214,277 388,371 203,348

3 Expenditure

Costs of raising I'unde

Advertising

Unrestrictedfunds

6

613

Restrictedfunds

6

10,846

2018Total

8

11,459

2017Total

5

13,737

Cost of charitab/e activitiesConsultancy costsGeneral expeditureInsuranceLight and heatPhoneRent and ratesWaterGrants payable (note 14)

19,40055,8942,7965,308

4131,5411,5132,585

15417,428

81,364

19,55473,322

2,7965,308

4131,5411,513

83,949

23,44055, 3092,4994,828

2661,3551,236

29,645

Other costsProfessional feesBank chargesDepreciationRepairs and maintenance

32535,30932,292

6031

38535,34032,292

13385

29,53921,378

Total 158,821 109,917 268,738 183,630

4 Interest payable2018

62017

Interest on bank loans 32,799 32,799



5 Net incoming resources for the year2018 2017

This is stated after charging.

Depreciation 35,340 29,539

6 Staff costs

The charity did not have any employees in the current or prior years. None of the trustees recewed any remunerationfrom the charity during the current or prior years.

7 Tangible fixed assetsLand end Fitgngs andbuildings equipment Total

f 8 8Cast

At 1 January 2018Additions

1,825,560 51,75913,836

1,877,31913,836

At 31 December 2018 1,825,560 65,595 1,891,155

DepreciationAt 1 January 2018Provided for the year

230,69025,558

32,3079,782

262,99735,340

At 31 December 201 8 256,248 42,089 298,337

Iver bocli vs/ue

At 31 December 2018 1,569,312 23,506 1,592,818

At 31 December 201 7 1,594,870 19,452 1,614,322

8 Debtors2018

82017

Other debtors 16,046 17,875

Receipts from membership and other donations relating to the main chantable aiaivitrss of the charity are recognisedwhen they are received Amounts that had been pledged but not yet received by the charity were approximately 859,112(2017 — 8129,884)

All amounts shown under debtors fall due for payment within one year.

10



9 Creditors: amounts falling due within one year2018Total

2017Total

6

Other creditorsConcessionary loans

7,736 16,76920,000

7,736 36,769

10 Creditors: amounts falling due after one year2018Total

2017Total

Bank loans (secured)Concessionary loans

643,575 653,25020,000 96,489

663,575 749,739

The loans fall due for repayment as follows

Less than 1 year 20,000

1-2yeamMore than 5 years

76,489663,575 673,250

Total 663,575 749,739

The bank loan is secured on the chanty's assets and bears interest at 1 234 above base rate. The amount shown aboveof 5643,575 (2017 - 9653,250) represents a gross loan of 8646,500 (2017 - 5656,500) less unamortised finance costs of82,925 (2017 —63,250).

The concessionary loans due in fess than one year and in more than one year are not secured on any of the charity'sassets and bear no interest.

11 Analysis of net assets between fundsUnrestricted

funds8

Restrictedfunds

6Total

Tangible fixed assetsCurrent assetsCurrentliabilitiesCreditors falling due in more than one year

1,592,81831,494(7,123)

(643,575)

53,049(613)

(20,000)

1,592,81884,543(7,736)

(663,575)

Net assets at 31 December 2018 973,814 32,436 1,006,050

11



12 Movements in fundsBalance at1 January

2018f

incomingresources

8

Outgoingresources

Balance at31 December

Transfers 20188 8

Restricted funds

Building fund

The Kehillas Ohsl Moshe GemachStart your Day the Torah Way

—NW Landon

Gemilus Chased Fund

AdoptmkollelOther funds

16,975

38012,2751,7029,032

128,588

9,6803,3939,020

63,615

(17,918)(60)

(6,652)(3,350)(9,750)

(72,187)

(120,313)

7,966

7832(20)

3,40812,318

9728,426

Total restncted funds 40,404 214,296 (109,917) (112,347) 32,436

Unrestncted funds

General funds 875,%3 177,324 (191,620) 112,347 973,614

Total funds 915,967 391,620 (301,537) 1,006,050

Building fund. The fund is used to hnance the purchase of the chanty's properties and any major building works. Any

surplus funds are released to general funds on completion of the specific project.

The Kehiyas Ohel Moshe Gemachi This fund provides short-term interest-free loans for individuals meeting the relevantcriteria.

Start your dey the Torah yyey- NW London: This fund provides daily and weekly lectures for the benefit of anyone within

the local community.

Gemilus Chased Fund: The fund provides funds for members of the community who require finanmal assistance whenmaking a simcha.

Adopt-a-kollel: The shul's collections and contributions to Adopt-a-kollel.

Other funds Funds within this category are raised on an ad-hoc basis for spemfic causes to which the charay wehes tomakes grants.

13 Statement of financial activities for the year ended 31 December 2017

income from donationsIncome from charitable activitiesTotal incomeCasts af raising fundsCost of charitable activitiesOther costsTotal expenditure

Unrestrictedfunds

888,75924, 554

Restrictedfunds

114,58930

2017Total

2203,348

24, 584

13,737118,57884, 114

13,60053,199

1,619

13785,37982,495

148,011 68,418 216,429

113,313 114,619 227,932

Net incomeGross transfers between fundsNet movement in funds during the yearTotal funds brought forward

Total funds carried forward

(34,698)19,488

(15,210)890,773

26,71313,69140,404

11,503904,464915,967

45,201 11,503(19,488)

12



14 Grants payable

Restricted funds

Kehdlas Ohel Moshe Youth ChaburaGemrlus Chesed FundAdopt-a-kollel

Otherfunds

Grants tolrlatltutlons

5

13,661

9,7507,880

Grants toindividuals

f

3,350

46,723

2018Total

13,6613,3509,750

54,603

2017Total

2,7221,0007,250

15,895

Restncted fundsUnrestncted funds

31,2912.585

50,073 81,3642,585

26,8672,778

Total funds 33,876 50,073 83,949 29,645

The grants made under the Adopt-a-kollel fund were paid to Kollel Meor Hatorah in Jerusalem to support theirprogrammes. For more details see www. adoptakollel. org.

The charity did not make any material grants to any other mstitution during the current or prior year.

15 Cash generated by operating activities2018Total

5

2017Total

Net movement in funds

Add back depreciation chargeAdd back amortrsation of loan costsDeduct interest income shown in investing activitiesDecrease/(increase) in debtors(Decrease)/rncrease in creditors

90,08335,340

325(1,259)1,829

(9,033)

11,50329,539

325(721)

(27)894

Net cash generated by operating activities 117,285 41,513

16 Transactions with trustees and connected persons

None of the trustees received any remuneration or other benefits for their services to the chanty. No trustee has claimedany expenses or had their expenses met by the charity other than the reimbursement of out-of-pocket expenses wherethe trustee has acted as agent for the chanty

17 Legal form of the Charity

The charity is a company limited by guarantee and is governed by its memorandum and articles of assomatron. Thecompany is incorporated in England and Wales The main operating address of the charity is: 100-102 Leesrde Crescent,London, NW11 OLA and the company's registered office is: 20 Highcroft Gardens, London, NW11 OiJ(

13

For the year ended 31 December 2018 Company Number

Documents

Transcript of For the year ended 31 December 2018 Company Number