REGISTERED CHARITY NUMBER: 1085059
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
ZICHRON NACHUM (EUROPE) TRUST
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
ZICHRON NACHUM (EUROPE) TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
ZICHRON NACHUM (EUROPE) TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024
TRUSTEES S WARHAFTIG S YANKOVITCH A BRECHER PRINCIPAL ADDRESS 5A Northfield Road London N16 5RL REGISTERED CHARITY 1085059 NUMBER INDEPENDENT EXAMINER Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
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ZICHRON NACHUM (EUROPE) TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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
Objectives and aims
The advancement of the Orthodox Jewish religion, Orthodox Jewish education and education in general. The relief of poverty, sickness and infirmity for the public benefit.
Significant activities
The financial results of the charity's activities for the period ended 31 December 2024 are fully reflected in the attached financial statements together with the notes thereon.
The trustees are satisfied with the results and activities of the company for the year and do not anticipate any significant changes in the forthcoming year
Public benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the charity's future activities. The aims of the charitable company for the public benefit are detailed in the Objectives and Activities section of the report.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The trustees are pleased with the results of the charity's activities during the year.
The unrestricted donations received during the year amounted to £156,739 (2023: £161,827) and the trustees are delighted to report they were able to distribute £155,424 (2023: £170,761) as grants to institutions.
FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.
FUTURE PLANS
The charity intends to carry on its policy of making grants in pursuant of its objects, and continue its activities, as outlined above, for the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a trust deed and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
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.
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ZICHRON NACHUM (EUROPE) TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
Approved by order of the board of trustees on 20 March 2025 and signed on its behalf by:
S YANKOVITCH - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ZICHRON NACHUM (EUROPE) TRUST
Independent examiner's report to the trustees of ZICHRON NACHUM (EUROPE) TRUST
I report to the charity trustees on my examination of the accounts of ZICHRON NACHUM (EUROPE) TRUST (the Trust) for the year ended 31 December 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
-
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.
M A VENITT, A.C.A
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
20 March 2025
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ZICHRON NACHUM (EUROPE) TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 156,739 | 161,827 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| General Fund | 155,424 | 170,761 | |
| Other | 840 | 900 | |
| Total | 156,264 | 171,661 | |
| NET INCOME/(EXPENDITURE) | 475 | (9,834) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (424) | 9,410 | |
| TOTAL FUNDS CARRIED FORWARD | 51 | (424) |
The notes form part of these financial statements
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ZICHRON NACHUM (EUROPE) TRUST
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 891 | 176 | |
| CREDITORS | |||
| Amounts falling due within one year | 4 | (840) | (600) |
| NET CURRENT ASSETS/(LIABILITIES) | 51 | (424) | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 51 | (424) | |
| NET ASSETS/(LIABILITIES) | 51 | (424) | |
| FUNDS | 5 | ||
| Unrestricted funds | 51 | (424) | |
| TOTAL FUNDS | 51 | (424) |
The financial statements were approved by the Board of Trustees and authorised for issue on 20 March 2025 and were signed on its behalf by:
A BRECHER - Trustee
S WARHAFTIG - Trustee
The notes form part of these financial statements
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ZICHRON NACHUM (EUROPE) TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 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.
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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Governance costs
Governance costs are associated with the governance arrangements of the charity and relate to the general running 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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
continued...
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ZICHRON NACHUM (EUROPE) TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities General Fund Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 5. MOVEMENT IN FUNDS At 1.1.24 £ Unrestricted funds General fund (424) TOTAL FUNDS (424) Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 156,739 TOTAL FUNDS 156,739 |
Unrestricted fund £ 161,827 170,761 900 171,661 (9,834) 9,410 (424) 31.12.24 31.12.23 £ £ 840 600 Net movement At in funds 31.12.24 £ £ 475 51 475 51 Resources Movement expended in funds £ £ (156,264) 475 (156,264) 475 |
|---|---|
continued...
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ZICHRON NACHUM (EUROPE) TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.23 £ Unrestricted funds General fund 9,410 TOTAL FUNDS 9,410 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 161,827 TOTAL FUNDS 161,827 |
Net movement At in funds 31.12.23 £ £ (9,834) (424) (9,834) (424) Resources Movement expended in funds £ £ (171,661) (9,834) (171,661) (9,834) |
Net movement At in funds 31.12.23 £ £ (9,834) (424) (9,834) (424) Resources Movement expended in funds £ £ (171,661) (9,834) (171,661) (9,834) |
|---|---|---|
| (9,834) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.23 | in funds | 31.12.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 9,410 | (9,359) | 51 |
| TOTAL FUNDS | 9,410 | (9,359) | 51 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 318,566 318,566 |
Resources Movement expended in funds £ £ (327,925) (9,359) (327,925) (9,359) |
Resources Movement expended in funds £ £ (327,925) (9,359) (327,925) (9,359) |
|---|---|---|---|
| (9,359) |
continued...
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ZICHRON NACHUM (EUROPE) TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
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