CHARITY REGISTRATION NUMBER: 1084429 ZICHRON YECHESKEL TRUST UNAUDrfED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road London NWII OPU ZICHRON YECHES1￿L TRUST FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2024 Pages Trustees, annual report Ito3 Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 7toll ZICHRON YECHESKEL TRUST TRUSTEES, ANNUAL REPORT TAR ENDED S APRIL 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2024. REFERENCE AND ADMINISTRATIVE DETAILS Zichron Yecheskel Trust Registered charity name Charity registration number Principal office 1084429 28 St. Andrew's Grove London N16 SNE The trustees Mr A Stern Mr J Bransdorfer Mr S Lefkowitz Independent examiner Asher Sternlicht FCA New Burlington House 1075 Finchley Road London NWII OPU STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The charity is a registered charity and is governed by its Trust Deed dated 6 November 2000. Organisation The charity is administered by the governors who are the trustees. Every trustee holds otTice until hejshe shall die or shall cease to hold office by virtue of the Trust Deed. The day-to-day affairs of the charity are administered by the trustees whose Chair is Mr A Stern. Where there is a requirement for new trustees, these would be identified and appointed by the existing trustees. The chair of trustees would be responsible for the induction of any new trustee, which involves awareness of a trustee's responsibilities, the governing document, administrative procedures. and the history and philosophical approach of the charity. A new trustee would receive copies of the previous year's annual report and accounts, with detailed explanation thereof. All trustees give their time voluntarily and no benefit or expenses were paid to them in the year. Related Parties There are no related party transactions which require disc105ure. Risk Management The trustees have identified and reviewed the major risks to which the charity is exposed, in particular those related to the operations and finance of the charity, and are satisfied that systems are in place to manage those risks. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. ZICHRON YECHESKEL TRUST TRUSTEES, ANNUAL REPORT (e•nllnuerf) YEAR ENDED 5 APRIL 2024 OBJECTIVES AND ACTIVITIES The Trust is established to further those pU￿oseS both in the United Kingdom and abroad recognised as charitable by English Law. In furtherance of these objects. the charity receives income from voluntary donations which it utilises in the provision and distribution of grants. donations for charitable purposes. It has concentrated its activities in support of established Jewish organisations engaging in education, advancement of religion in accordance with the Jewish faith and the giving of of philanthropic aid to the Jewish needy. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. Grant Making Policy The charity accepts applications for grants from representatives of Orthodox Jewish Charities. which are reviewed by the Trustees on a regular basis. The charity applies the income it ￿ceIveS mainly from voluntary donalions in the provision and distribution of grants and donations to Orlhodox Jewish Charities. ACHIEVEMEIYTS AND PERFORMANCE The main areas of charitable activity are the provision of financial support. During the year the charity has continued its philanthropic activities and has maintained its support of established Jewish organisations engaging in education, advancement of religion in accordance with the Jewish faith and the giving of philanthropic aid to the Jewish needy. The reserves remain available to organisations engaging in activities compatible with the aims and objectives of the charity. The trustees expect such demands to increase in future years. The financial results of the charity for the year ended 5 April 2024 are fully reflected in the attached Financial Statements together with the Notes thereon. Charitable donations in the year totalled £177,440 (2023 - £308,719). ZICHRON YECHESKEL TRUST TRUSTEES, ANNUAL REPORT {eoMtinued) YEAR ENDED 5 APRIL 2024 FINANCIAL REVIEW Finanei21 Position The financial position of the charity Is satisfactory. The Statement of Financial Activities shows a net deficit for the year of £18,888 (2023 - £64,088) and total reserves of £77.597 (2023 - £96,485). Rescrves Policy It is the policy of the charity to maintain unrestricted fund& which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commithients of the charity. The Reserves Policy of the trustees is to maintain unrestricted funds, which are the free reserves of the charity, at a level they consider appropriate to the charity's needs taking into account likely future requirements. A proportion of the reserves is held in readily realisable forni to cover oll-going grant-making activities and contingencies arising from additional calls made upon the charity for the support of organisations in times of need. The charity's reserves are represented by unrestricted funds arisTng from past operating results. The trustees are satisfied that the present balance of distributable reserves is sufficient to support anticipated expenditure. The charity's reserves policy is based upon the application each year of a significant portion of such unrestricted funds as are available, whilst at the same time building up its income producing base. The intentlon is to strengthen the charity's ability to sustain a high level of charitable distribution for the foreseeable future. Principal Funding Sources The charity's principal funding sources in the year were from voluntary donations. Investment policy and objectives Under the Trust Deed, the charity has the power to make any investment which the trustees see fit provided any moneys are not immediately required for use in Connection with any of its objects. PLANS FOR FUTURE PERIODS The trustees plan continuing the activities outlined above in the forthcoming years subject to satisfactory incoming resources to continue making distributions in accordance with their grant-making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end. The trustees, annual report was approved on .....* ko! /2025 and signed on behalf of the board of tnjstees by: Mr A Stern Trustee ZICHRON YECHESKEL TRUST INDEPENDENT EXAMEYER'S REPORT TO THE TRUSTEES OF ZICHRON YECHESKEL TRUST YEAR ENDED 5 APRIL 2024 I report to the trustees on my examination of the fInan¢ial statements of Zichron Yecheskel Trust Cthe clwityj for the year ended 5 April 2024. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 201 l ('the Act,). I report in respect of my examination of the charity's financial statements canied out under section 145 of the 2011 Act and in canying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of th¢ Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my ex&mination. I confirni 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 the financial statements do not accord with those records. or the fll]ancial statements do not comply with the applicable requirements concerning the forni 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. Asher Steml icht FCA Independent Examiner New Burlington House 1075 Finchley Road L4)ndon NWII OPU 3o/D1/2G'25 ZICHRON YECHESKEL TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2024 2024 Unrestricted funds Total funds Total funds 2023 Income and endowments Donations and legacies Investment income 162,010 162,010 246,251 Total income 162,010 162,010 246,442 Expenditure Expenditure on charitable activities Total expenditure 180,898 180,898 310,530 180,898 180,898 310,530 Net expenditure and net movement in funds (18,888) (1&888) (64,088) Reconciliation of funds Total funds brought forward Total funds Carried fonvard 96,485 77,597 96,485 160,573 77.597 96,485 The statement of financial activities includes all gains and losses re¢ognised in the year. All income and expenditure derive from continuing activities. The note5 on p#ge$ 7 to 11 form part of these finaDeiAI ststemenls. ZICHRON YECHESKEL TRUST STATEMENT OF FINANCIAL POSITION 5 APRIL 2024 2024 2023 Nok Current assets Cash at bank and in hand 80,777 96,485 Creditors: amounts falling due within one year 12 3,180 Net current assets 77,597 96,485 Total assets less current liabilities 77,597 96,485 Net assets 77,597 96.485 Funds of the charity Unrestricted funds 77.597 96,485 Totsl ¢harity funds 13 77,597 96.485 These financial statements were approved by the board of trustees and authorised for issue on so/ol./zo4S., and are signed on behalf of the board by: Mr A Stem Trustee The notes on pages 7 to li form part of these financial statements. ZICHRON YECHESKEL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2024 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal oifice is 28 St. Andrew's Grove, London, N16 5NE. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recomtnended Practicc applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charitics SORP (FRS 102)) and the Charities Act 2011. Accounting policie5 Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the valuation of certain financial assets and liabilities and investment properties mea5ur¢d at fair value through income or expenditure. The financial statements are prepared in sterlin& which is the functional currency of the entity. Going Concern There are no material uncertainties about the charity's ability to continue. Judgements 2nd key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates 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 to be reasonable under the circumstances. Fund accounting General unrestricted fl￿dS comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in fijrtherance of the general objectives of the charity. Restricted funds are funds subject to specific restricted conditions imposed by donors. There are no restricted funds as at the Balance Sheet date. Designated funds are funds which have been set aside at the discretion of the Trustees for specific purposes. There are no designated funds &8 at the Balance Sheet date. Incoming resources All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can bc reliably measured. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. ZICHRON YECHESKEL TRUST NOTES TO THE FINANCIAL STATEIVIENTS fcoNltrtMed) YEAR ENDED 5 APIUL 2024 Accounting policies {conlirttsed) Resources expended Expenditure is recognised as soon as there is a present obligation committing the Charity to pay out resources, it is probable that a transfer of economic benefits will be required in settlement and the amount can be measured or estimated reliably. Support costs Support costs are those costs which are common to all areas of the organisation. These are allocated across all areas of activity on the basis of the number of service users for each activity. Governance costs Governance costs are associated with the governance arrangements of the charity and relate to the general njnning of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts. Financial instruments A fInancial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Donations 2nd legacies Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations received 162,010 162,010 246.251 246,251 No conditions were attached to any donations. Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other interest receivable 191 191 ZICHRON YECHESKEL TRUST NOTES TO THE FINANCIAL STATEMENTS (conllnmed) YEAR ENDED 5 APRIL 2024 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Furtherance of Jewish religion, education, and alleviation of poverty Support costs 177,440 3,458 177,440 3,458 308,719 1,811 310,530 308,719 1,811 310,530 180,898 180,898 Expenditure on charitable aetivities by activity type Grant funding of activities Support costs Total funds 2024 Total fund 2023 Furtherance of Jewish religion. education, and alleviation of povety Governance costs 177,440 1,868 I,590 3,458 179,308 1,590 180,898 310,530 177,440 310,530 Analysis of support and governance costs GTant funding activities Total 2024 Total 2023 Independent examination fees Other costs 1,590 1,868 1,590 1,868 3,458 1,720 91 3,458 1,811 ZICHRON YECHESKEL TRUST NOTES TO THE FINANCIAL STATEMEiYfs fcort(Inued) YEAR ENDED 5 APRIL 2024 Analysis of institutional grants 2024 Grants to institutions Noaln Hatorah Pnei Menachem AHT Start Upright Toldos Aharon Trust Yad Vochessed Association Reb Shayales Tzeduka Yesamach Levav Trust Binyen Torah Ltd Shar Hamelech Other Small Grants (under £5,000) Total grants 10,000 10,000 9,900 7,500 7,500 7,500 6,1100 6,000 5,000 5,000 10,700 85.100 10. Staff costs There were no employees during the year. I l. Trustee remuneration and expenses No Trustees have been paid any Temuneration or received any other benefits from the charity. 12. Creditors: amounts falling due within one year 2024 2023 A¢¢ruals and deferred income 3,180 13. Analysis of charitable funds Unrestricted funds At 6 April 2023 At Income Expenditure S April 2024 Genernl funds 96,485 162,010 (180,898) 77.597 At 6 April 2022 At Income Expenditure 5 April 2023 General funds 160,573 246,442 (310,530) 96,485 io ZICHRON YECHESKEL TRUST NOTES TO THE FINANCIAL STATEMENTS (eoHliA4ed) YEAR ENDED 5 APRIL 2024 14. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current &ssets 80,777 80,777 Unrestricted Total Funds Funds 2023 Current &8sets 96,485 96,485 15. Related parti There have been no related paty transactions in the rcFM)rting period that require disclosure. li