M AND M FOUNDATION
Financial health, per its FY2024 accounts
The accounts state that free reserves stood at £688,606, which the trustees consider an acceptable level given the charity's limited financial obligations. The charity reported a net income of £169,321 for the year, driven by significant investment income, and holds total unrestricted funds of £1,701,676. The trustees confirmed there are no material uncertainties regarding the charity's ability to continue as a going concern.
What the accounts disclose
“the trustees have resolved to maintain a minimum reserve roughly equal to the net current assets of the charity.”
“Alexandra Gate Business Centre Ltd, a wholly owned subsidiary of the M & M Foundation, donated to M & M Foundation during the year investment income amounting to £200,000.” — page 18
“The wholly owned companies - AG Cardiff Ltd, AG Cardiff (2) Ltd, Alexandra Gate Business Centre Ltd and Alexandra Gate HR Ltd are all incorporated in the United Kingdom. The entire share capital of Cafe Management Ltd is owned by Alexandra Gate Business Centre Ltd” — page 16
Trustees
- Mordecai halpernchair
- David Moses Halpern
- MIRIAM HALPERN
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/10/2024 | £320k | £150k |
| 31/10/2023 | £262k | £85k |
| 31/10/2022 | £193k | £152k |
| 31/10/2021 | £459k | £271k |
| 31/10/2020 | £361k | £229k |
Common questions
Is M AND M FOUNDATION financially healthy?
The accounts state that free reserves stood at £688,606, which the trustees consider an acceptable level given the charity's limited financial obligations. The charity reported a net income of £169,321 for the year, driven by significant investment income, and holds total unrestricted funds of £1,701,676. The trustees confirmed there are no material uncertainties regarding the charity's ability to continue as a going concern. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| DEBMAR BENEVOLENT TRUST LIMITED | 3 | £910k |
| FIRSTFRUITS GOSPEL FOUNDATION | 1 | £200k |
| BEIS MENACHEM CHABAD LUBAVITCH | 1 | £102k |
| DILLHAVEN LIMITED | 1 | £71k |
| YESHIVAS LUBAVITCH MANCHESTER | 1 | £20k |
| J & J CHARITABLE TRUST LIMITED | 1 | £17k |
| KTRUST LIMITED | 1 | £12k |
| THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST HELEN'S CHURCH NORTH KENSINGTON | 1 | £6k |