2024-06-30-accounts - Oizer Dalim Trust

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REGISTERED CHARITY NUMBER: 1045296

OIZER DALIM TRUST

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS

OIZER DALIM TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet		6
Notes to the Financial Statements	7	to	11

OIZER DALIM TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2024

TRUSTEES

PRINCIPAL ADDRESS

M Cohen M Freund M Cik 68 Osbaldeston Road London N16 7DR

REGISTERED CHARITY 1045296 NUMBER

INDEPENDENT EXAMINER

BANKERS

Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS The Co-operatuve Bank plc P O Box 250 Skelmersdale WN8 6WT

Page 1

OIZER DALIM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

REFERENCE AND ADMINISTRATIVE INFORMATION

The information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charitable object are to support such charities, institutions or charitable purposes as the the trustees may from time to time in their discretion determine. The charity helps to alleviate poverty amongst members of the Orthodox Jewish faith in the UK and overseas and assist in the furtherance of Orthodox Jewish education throughout the world.

The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The trustees are pleased with the results of the year. There was an increase in both income and expenditure leaving a surplus for the year, before taking into account gains on investments.

FINANCIAL REVIEW

Investment policy

In accordance with the trust deed the charity has the power to make any investment which the trustees see fit. The trustees consider that investment in property and listed investments meets their criteria for income and capital growth. The return is considered satisfactory in the current financial climate.

Reserves policy

The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £828,236 (2023- £809,891).

FUTURE PLANS

The charity plans to continue its activities for the foreseeable future subject to satisfactory income.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Charity constitution

The charity is constituted and governed by a Declaration of Trust dated 24 February 1994.

Recruitment and appointment of new trustees

The power to appoint new trustees is vested in the board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.

Charity management

There are three permanent trustees, one of whom acts as administrator. They meet regularly, especially before the Jewish holidays in order to ensure that grants are justified and reasonable.

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.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 2

OIZER DALIM TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 28 April 2025 and signed on its behalf by:

M Cik - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OIZER DALIM TRUST

Independent examiner's report to the trustees of Oizer Dalim Trust

I report to the charity trustees on my examination of the accounts of Oizer Dalim Trust (the Trust) for the year ended 30 June 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

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

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

E Meyer FCA BSc

Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS

28 April 2025

Page 4

OIZER DALIM TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024

2024
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
93,631
Investment income
2
33,661
Total
127,292
EXPENDITURE ON
Raising funds
3
1,390
Charitable activities
4
Grantmaking
109,040
Support
1,080
Total
111,510
Net gains/(losses) on investments
2,563
NET INCOME
18,345
RECONCILIATION OF FUNDS
Total funds brought forward
809,891
TOTAL FUNDS CARRIED FORWARD
828,236

2023
Total
funds
£
78,458
31,598
110,056
2,384
90,865
960
94,209
(6,132)
9,715
800,176
809,891

The notes form part of these financial statements

Page 5

OIZER DALIM TRUST

BALANCE SHEET 30 JUNE 2024

Notes FIXED ASSETS Investment property 8 CURRENT ASSETS Debtors 9 Investments 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS	2024 Total funds £ 726,068 - 47,475 55,773 103,248 (1,080) 102,168 828,236 828,236 828,236 828,236	2023 Total funds £ 726,068 321 40,077 44,385 84,783 (960) 83,823 809,891 809,891 809,891 809,891

The financial statements were approved by the Board of Trustees and authorised for issue on 28 April 2025 and were signed on its behalf by:

M Cik - Trustee

The notes form part of these financial statements

Page 6

OIZER DALIM TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

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.

Donations are included in full in the Statement of Financial Activities when received.

Income from investments is included in the year in which it is receivable.

Expenditure

Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.

Grants are only recognised in the accounts when paid.

Raising funds comprise investment management costs relating to the investment properties.

Support costs are those incurred to assist the work of the charity but are not direct charitable activities.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date any changes are transferred to the Statement of Financial Activities. No depreciation is provided in respect of investment properties applying the fair value.

Taxation

The charity is exempt from tax on its charitable activities.

Going concern

There are no material uncertainties about the charity's ability to continue.

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OIZER DALIM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

2. INVESTMENT INCOME

2023 £ 31,114 484 31,598 2023 £ 2,384 Totals £ 109,040 1,080	2023 £ 31,114 484	2023 £ 31,114 484
	31,598
		2023 £ 2,384
110,120
	2023 £ 90,865
	2023 £ 2,300 58,900 12,000 -
	73,200

Page 8

OIZER DALIM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

5. GRANTS PAYABLE - continued

The total grants paid to individuals during the year was as follows:

Relief of poverty SUPPORT COSTS Support	2024 2023 £ £ 21,830 17,665 Governance costs £ 1,080

6. SUPPORT COSTS

Support

Support costs, included in the above, are as follows:

Governance costs

Governance costs
	2024	2023
		Total
	Support	activities
	£	£
Independent examiner's fee	540	480
Independent examiner's other fees	540	480
	1,080	960

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.

8. INVESTMENT PROPERTY

INVESTMENT PROPERTY
FAIR VALUE At 1 July 2023 and 30 June 2024 NET BOOK VALUE At 30 June 2024 At 30 June 2023	£ 726,068
	726,068
	726,068

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the trustees who are considered to have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same or similar locations.

Page 9

OIZER DALIM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 10. CURRENT ASSET INVESTMENTS Listed investments Listed invest have been valued by Hargreaves Lansdown. 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 12. MOVEMENT IN FUNDS At 1.7.23 £ Unrestricted funds General fund 809,891 TOTAL FUNDS 809,891 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 127,292 (111,510) TOTAL FUNDS 127,292 (111,510) Comparatives for movement in funds At 1.7.22 £ Unrestricted funds General fund 800,176 TOTAL FUNDS 800,176		2024 £ - 2024 £ 47,475 2024 £ 1,080 Net movement in funds £ 18,345 18,345 Gains and losses £ 2,563 2,563 Net movement in funds £ 9,715 9,715

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OIZER DALIM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 110,056 110,056	Resources expended £ (94,209) (94,209)	Gains and Movement losses in funds £ £ (6,132) 9,715 (6,132) 9,715

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2024.

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