Charity registration number 1205770
Company registration number 13915978 (England and Wales)
MEOROS CHAIM LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
MEOROS CHAIM LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
David Sobel
Yehuda Feiner
(Appointed 7 August 2023)
Philippe Salamon
(Appointed 7 August 2023)
Charity number
1205770
Company number
13915978
Registered office
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX
Accountants
Landau Morley LLP
325-327 Oldfield Lane North
Greenford
Middx
UB6 0FX
MEOROS CHAIM LIMITED
CONTENTS
Page
Trustees Report report
1
Accountants' report
2
Statement of financial activities
3
Balance sheet
4
Notes to the financial statements
5 - 8
MEOROS CHAIM LIMITED
TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 1 -

The directors present their annual report and financial statements for the year ended 29 February 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1.1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "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

The charity's objects are:

1) To advance the orthodox Jewish religion and in particular to maintain a synagogue providing facilities for prayer, religious worship, education and religious studies.

 

2) The relief of poverty and need by the provision of grants and donations to registered charities.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

During the period, the charity continued to operate a synagogue providing facilities for prayer, religious worship, education and religious studies.

 

During the period, the charity raised funds totalling £11,801 (2023: 4,560) for the synagogue.

Financial review
Reserves policy

The current policy of the charity is to distribute funds in furtherance of the objects of the charity. A bank balance is maintained to meet expenses as they fall due. At the year end the charity held free reserves of £Nil, (2023: £Nil). The level of reserves are closely monitored by the trustees and it is ensured that they are adequate to meet the obligations of the charity as and when they fall due.

Structure, governance and management

The Charity is a company limited by guarantee governed by its Memorandum and Articles of Association dated 15th February 2022 and amended on the 27 October 2023.

The trustees who are also the directors for the purpose of company law, who served during the year and up to the date of signature of the financial statements were:

David Sobel
Yehuda Feiner
(Appointed 7 August 2023)
Philippe Salamon
(Appointed 7 August 2023)
Recruitment and appointment of trustees

It is not the intention of the trustees of the charity to appoint any new trustees in the near future. Should the need arise the trustees will apply suitable recruitment induction and training procedures.

The Trustees Report was approved by the Board of Trustees.

David Sobel
Trustee
26 November 2024
MEOROS CHAIM LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MEOROS CHAIM LIMITED FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Meoros Chaim Limited for the year ended 29 February 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's Trustees, as a body, in accordance with the terms of our engagement letter dated 22 August 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Meoros Chaim Limited and state those matters that we have agreed to state to the charity's Trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meoros Chaim Limited and the charity's Trustees as a body, for our work or for this report.

It is your duty to ensure that Meoros Chaim Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Meoros Chaim Limited. You consider that Meoros Chaim Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Meoros Chaim Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Landau Morley LLP
27 November 2024
Chartered Accountants
325-327 Oldfield Lane North
Greenford
Middx
UB6 0FX
MEOROS CHAIM LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
2
11,801
4,560
Total income
11,801
4,560
Expenditure on:
Charitable activities
3
12,589
4,642
Total expenditure
12,589
4,642
Net expenditure and movement in funds
(788)
(82)
Reconciliation of funds:
Fund balances at 1 March 2023
(82)
-
Fund balances at 29 February 2024
(870)
(82)

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

MEOROS CHAIM LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 4 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
930
318
Creditors: amounts falling due within one year
8
(1,800)
(400)
Net current liabilities
(870)
(82)
Net assets excluding pension liability
(870)
(82)
The funds of the Charity
Unrestricted funds
(870)
(82)
(870)
(82)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 29 February 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the Trustees on 26 November 2024
David Sobel
Trustee
Company registration number 13915978 (England and Wales)
MEOROS CHAIM LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
1
Accounting policies
Charity information

Meoros Chaim Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 325-327 Oldfield Lane North, Greenford, Middlesex, UB6 0FX.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.

 

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4
Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MEOROS CHAIM LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 6 -
1.7
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.8
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

1.9
Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
11,801
4,560
3
Expenditure on charitable activities
Heading #ac982
Heading #ac982
2024
2023
£
£
Direct costs

Synagogue Operating Costs

6,111
2,774

Premises Costs

1,317
792
7,428
3,566
Share of support and governance costs (see note 4)
Governance
5,161
1,076
12,589
4,642
Analysis by fund
Unrestricted funds
12,589
4,642
MEOROS CHAIM LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 7 -
4
Support costs allocated to activities
2024
2023
£
£
Accountancy Fees
3,200
475
Professional Fees
1,961
601
5,161
1,076
Analysed between
Support Costs
5,161
1,076
5
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

6
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
7
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

8
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,800
400
MEOROS CHAIM LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 8 -
9
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.

At 1 March 2023
Incoming resources
Resources expended
At 29 February 2024
£
£
£
£
General funds
(82)
11,801
(12,589)
(870)
Previous year:
At 1 March 2022
Incoming resources
Resources expended
At 28 February 2023
£
£
£
£
General funds
-
4,560
(4,642)
(82)
10
Related party transactions

During the year, the charity received  donations totalling £800 (2023:NIL) from Ashley Assets Ltd, a company in which one of the trustees is a director.

 

 

 

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