CHARITY REGISTRATION NUMBER: 1068651 HORWICH SHOTTER CHARITABLE TRUST Unaudited Financial Statements 30 November 2024 Chartered Certified Accountants Rico House George Street Manchester M25 9WS
HORWICH SHorrER CHARITABLE TRUST Financial Statements Year ended 30 November 2024 Page Trustees, annual report Independent examiner's reporl to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
HORWICH SHorrER CHARITABLE TRUST Trustees. Annual Report Year ended 30 November 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 30 November 2024. Reference and administratlve detalls Reglstered charily name HORWICH SHOTTER CHARITABLE TRUST Charlty iegistratlon number 1068651 Prlncipal office 13 Singleton Road Sallord M7 4NN The trustees Mr A Horwich Mr J Horwich Mr HS Horwich Mr ME Horwich Independent examlner Yisroel Levenson FCCA CTA Rico House George Street Manchester M25 9WS Structure, governance and management Recruitment and appointment of new trustees New Iruslees are appointed at the sole discretion of the serving truslees due to their interest in the work of charity and their recognised experience in specific fields which will further support the work of the Charity. Organisational struclure The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial inierest in the charily. Induction and training ol new trustees New trustees are given a full induclion by the directors. Trustees can retira wh8n Ihey wish as they do nol serve under a lixed term of tenure. Objeclives and actlvltles The Horwich Shotter Charitable Trust exists io receive and distribute charitable donations lo worthy causes primarily within the Jewish Community. Tho objeclive of the charity is the relief of poverty and the advancement of Jewish education and Religion. Public benefit We have referred to the guidance contained in the Charily Commission's general guidanco on public benefit when reviewing our aim and objectives and in planning our lulure activities. In particular, Ihe trustees consider how planned activities will contribule to the aims and objectives they have sot.
HORWICH SHorrER CHARITABLE TRUST Trustees, Annual Report (contlnued) Year ended 30 November 2024 Achievements and performance We are again pleased to report a successful year for the charity, with a generous amount of grants donated to a range of causes. Flnancial revlew Financial position Income from donations and investments totalled £113.446 (2023 £8,370). Expenditure in furtherance of charitable activities aggregated £41,252 {2023 - £71,191) resulting in net income of £78,361 {2021 expenditure £56,815). The financial results of the charilvs activities for the year to 30 November 2024 are fLFlly reflected on pages 5 and 6 of the Financial Statements together with the notes thereon. Reserves policy The trustees have established the level of reserves {that is those funds Ihat are freely available) thal the charity OLJght to have. Reserves are needed to bridge the funding gaps between spending on actlvities and receiving resources through volunlary grants. The trustees consider that the ideal level of reserves as at 30 November 2024 would be six months of resources expended which equates to approximately £20,600. The actual free reserves were £63,807 which is higher than our target figure. The trustees, annual report was approved on 30 September 2025 and signed on behalf of the board of trustees by: Mr J Horwi Trustee Charity Secretary
HORWICH SHorrER CHARITABLE TRUST Independent Examiner's Report to the Trustees of HORWICH SHorrER CHARITABLE TRUST Year ended 30 November 2024 I report to the trustees on my examination of the financial statements of HORWICH SHOTTER CHARITABLE TRUST {'the charity,) for the year ended 30 November 2024. Responsibilities and basls of report As th8 trustees of the charity you are responsible for the preparation of the tinancial statements in accordance wilh the requirements ol the Charities Act 2011 {'the Act.). I report in respect of my examination of the charity's financial statements carried out under section 145 of Ihe 2011 Act and in carrying out my examination I have followed all the applicable Direclions given by the Charity Commission under section 145{5){b) of the Act. Independenl 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 charity as required by section 130 of the Act; or Ihe financlal staiemenis do not accord with those records; or the financial statements do not comply with the applicable requiromcnts concernlng thc form and conleni ol accounts set out in Ihe Charities {Accounts and Reporls) Regulations 2008 other than any requiremenl that the accounts give a 'true and fair. view which is not a matier considered as part ol an independent examination. I have no concerns and have come across no other matters in conneciion with the examination lo which attenlion should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Yisroel Levenson FCCA CTA Independent Examiner Rico House George Street Manchester M25 9WS
HORWICH SHOThER CHARITABLE TRUST Statement of Financial Activities Year ended 30 November 2024 2024 Unrestricted funds Total funds Total funds 2023 Nole Income and endowments Donations and legacies Investment income 113,446 6,167 119,613 113,446 6,167 119,613 8,370 6,006 14,376 Total Income Expenditure Expenditure on charitable activilies Total expenditure 41,252 41,252 41,252 41,252 71,191 71,191 Net Incomel(exp8ndlture) and net movement In funds 78,361 78,361 (56.8151 Reconcillallon of funds Tolal funds brought forward Total lunds carrled lotward (14,554) 63,807 (14,554) 63,807 42,262 (14,553) The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivities. The notes on pages 6 10 12 form part ol these flnanclal slatemenls.
HORWICH SHOTTER CHARITABLE TRUST Statement of Financial Position 30 November 2024 2024 2023 Nole Fixed assets Tangible fixed assets 13 240,951 240,951 Current assels Debtors Cash at bank and in hand 14 15,319 3,299 18,618 15,611 3,596 19,207 Credltors". amounis lalllng due wlthin one year Net currenl Ilabllllles 15 195,762 274,711 255,504 114,553) {14,553) 177,144 63,807 63,807 Toial assets less current liabllltles Net assels Funds of the charlty Unreslricted funds 63,807 63,807 {14,553) {14,553) Total charlty funds 16 These financial statements were approved by Ihe board of trustees and authorised lor issue on 30 Sep ber 2025. and are signed on behalf of the board by: ich ru lee The notes on pages 6 to 12 form part of these financial slatemenls.
HORWICH SHOTTER CHARITABLE TRUST Notes to the Financial Statements Year ended 30 November 2024 General Informatlon The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 13 Singleton Road, Salford, M7 4NN. Statement ol compllance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in Ihe UK and Ihe Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102)) and the Charities Acl 2011. Accountlng pollcles Basls of preparatlon The flnanclal statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and Ilabilities and investment properties measured al fair value through income or expenditure. The financial staiements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no malerial uncertainties aboul the charilWs ability10 conlinue. Judgements and key sources of esllmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimaies and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed lo be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unresiricied funds earmarked by the trustees for particular future projeci or commitment, Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall inlo one of two sub-classes: restricted income funds or endowment funds.
HORWICH SHOTTER CHARITABLE TRUST Notes to the Financial Statements (contlntsed) Year ended 30 November 2024 Accounting policies (conlinued) Incoming resources All incoming resources are included in the statement ol financial activities when entitlement has passed to the charity. it is probable ihat the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of enlitlement to the gill, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipi is probable and entitlement is established. income from donated goods is measured ai the lair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to Ihe donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply ol services is recognised with the delivery of Ihe contracted service. This is classified as unrestricted lunds unless there is a contractual requirement for il to be spent on a particular purpose and returned if unspent. in which case it may be regarded as resiricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classifled under headings of the siaiement of financial actlvllies to which it relates.. exponditure on raising funds includes the costs of all lundraising activities, events, non- charitab58 trading aclivities, and the sale of donaled goods. expenditure on charitable activities includes all cosls incurred by a Gharily in underiaking activities thai further its charitable aims for the benefil ol its beneficiaries, including those support costs and costs relating to the governance ol the charity apportioned to charilable activities, other expenditure includes all expenditure that is neither related to raising funds for the charity nor parl of its expenditure on charilable activities. All Costs are allocated to expenditure categories reflecting the use of the resource. Direct costs atlribulab18 lo a single activity are allocated directly to thal activity. Shared Costs are apportioned between the activities they conlribule to on a reasonable, justifiable and consistent basis. Tangible assets Tangible asseis ar8 inilially recorded at cost, and subsequently stated at cost 18ss any accurnulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation loss any subsequent accumulated deprgcialion and subsequent acLumulated impairment losses.
HORWICH SHOTTER CHARITABLE TRUST Notes to the Fi nancial Statements (conllnuod) Year ended 30 November 2024 Accountlng pollcles (contlnued) Tangible assels (contlnugd) An increase in Ihe carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the stalement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revalualion gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Impairment ol flxed asseis A review for indicators of impairment is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where Ihe carrying value exceeds the recoverable amount, the assel is impaired accordingly. Prior impairmenls are also reviewed for possible reversal at each reporting date. For the purposes of impairment tesiing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unil to which the asset belongs. The cash-generating unit is the smallest identifiable group ol assois that includes the asset and generates cash inflows that largely independent of the cash inllows from other assels or groups of assets. For impairmenl testing of goodwill, the goodwill acquired in a business comblnation is, from the acquisition date, allocated to each of the cash-generaling units that are expected to benefit from the synergies of the combination, irrespeclive of whether other assets or liabilities of the charity are assigned 10 those units. Flnanclal Insirumenls A financial asset or a financial liability is recognised only when the charity becomes a parly to Ihe conlraclual provisions of the insirumenl. Basic linancial instruments are initially recognised at the amount receivable or payable including any related transaction cosis. Gurrent assels and current liabilities are subsequently measured at the cash or other consideraiion expected to be paid or received and not discounled. Debt instruments are subsequently measured ai amortised cost. Where investments in shares are publicly traded or their fair value can othemise be measured reliably, the investment is subsequently measured at tair value wilh changes in fair value recognised in income and expenditure. All other such inveslmenls are subsequently measured ai cost less impairment. Other financial instrumonts, including derivatives, are initially recognised at lair value, unless payment for an asset is delerred beyond normal business terms or financed al a rate of interest that is noi a market rate, in which case the assel is measured al Ihe present value of the future payments discounted ai a market rale of inlerest for a similar debt instrument. Other financial inslruments are subsequently measured al fair value. with any changes recognised in the statement ol financial activities. with the exceplion of hedging instruments in a designaied hedging relationship.
HORWICH SHOThER CHARITABLE TRUST Notes to the Financial Statements (conllnued) Year ended 30 November 2024 Accounting pollcles (conlinued) Financial instruments (conlinuad) Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairmenl at the end of each reporting date. If there is objective evidence ot impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financlal assets that are individually signilicant, these are assessed individually for impairment. Other flnancial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to Ihe extent that the reversal does not resull in a carrying amount of the financial asset thai exceeds whal the carrying amount would have been had the impairment not previously been recognlsed. Donatlons and legacles Unreslricted Toial Funds Unrestricted Tolal Funds Funds 2024 Funds 2023 Donatlons Donations type 1 113,446 113,446 8,370 8,370 Investment Incoma Unrestricted Tolal Funds Unresiricted Toial Funds Funds 2024 Funds 2023 Income from investment properties Bank inieresi receivable type 1 6,000 167 6,000 167 6,000 6,000 6,167 6,167 6,006 6,006 Expendlture on charltable actlvltles by fund type Unrestricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Activity type 1 Support cosls 39,901 1,351 41,252 39,901 1,351 41,252 70,621 570 70,621 570 71,191 71.191 Expenditure on charitable actlvltles by acllvSly type Grant funding of activities Support costs Total funds 2024 Toial fund 2023 Activity type 1 39,901 1,351 41,252 71.191
HORWICH SHorrER CHARITABLE TRUST Notes to the Financial Statements (continued) Year ended 30 November 2024 Analysis of support costs Analysis of support costs activity 1 Total 2024 Total 2023 Governance costs 1,351 1,351 540 Analysis of grants 2024 2023 Grants to inslitutions Grants lo institutions type 1 32,968 47.982 Grants to individuals Grants to individuals type 1 Total grants 6,933 39,901 22,639 70,621 10. Independent examlnatlon fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 360 540 11. Stafl cosls The average head couni of employees during the year was Nil {2023: Nil). No employee received employee benefits of more Ihan £60,000 during the year (2023: Nil). 12. Trustee remuneration and 6xpenses No remuneration or othor benefits Irom employmonl wilh the charity or a related entity were received by tha Iruste6s. 13. Tangible fixed assets Land and bulldlngs Cost At 1 December 2023 and 30 November 2024 240,951 Depreclatlon At 1 December 2023 and 30 November 2024 Carrying amount At 30 November 2024 240,951 240,951 AI 30 November 2023 10-
HORWICH SHorrER CHARITABLE TRUST Notes to Ihe Financial Statements (continued) Year ended 30 November 2024 14. Debtors 2024 2023 Other debtors 15,319 15,611 15. Creditors: amounts falling due wlthln one year 2024 2023 Amounts owed to undertakings in which the charity has a participating interest Accruals and deferred income Other creditors 194,826 360 576 274,711 195,762 274,711 16. Analysls of charitable funds Unrestrlcled funds At 1 December 2 023 At 30 November 2024 Income Expenditure General funds (14,554) 119,613 (41,252) 63,807 At 1 December 2 022 At 30 November 2023 Income Expenditure General funds 42,262 14,376 171,191) {14,553) 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net asset8 240,951 240,951 18,619 18,619 1195,186) (195,186) 64,384 64,384 Unr8Strictod Total Funds Funds 2023 Tangible fixed assets Currenl assets Creditors less than 1 year Nel assets 240,951 240,951 19.207 19.207 {274.711) (274.711) {14,553) {14,553) 11
HORWICH SHOThER CHARITABLE TRUST Notes to the Financial Statements (continued) Year ended 30 November 2024 18. Related parties During the year the charity entered into the following transactions with related parties: Balance owed byl(owed to) Transactlon value 2024 2023 2024 2023 Related parly I name or description - desc in alc 79,885 {49,500) {195,762) 1274,711) Donations During the year, Trustees donated £84,840 to the Charity. 12-