CHARITY REGISTRATION NUMBER: 1090784 THE ZECHARIA CHARITABLE TRUST Unaudited Finaneial Statements For the year ended 31 March 2024 COHEN ARNOLD CHARTERED ACCOUNTANTS LONDON NWI I OPU
THE ZECHARIA CHARITABLE TRUST Finydneial Statements Year ended 31 March 2024 PAGES Trustees, Annual Report Ito2 Independent examinerfs report to the trustees Statement of Financial Activities Ststement of Financial Position Notes to the Financial Statements 6t012
THE ZECHAIUA CHARITABLE TRUST Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and administrative details Registered charity name Charity registration number Principal olTice The Zecharia Charitable Trust 1090784 141 B Upper Clapton Road London E5 9DB The trustees Mr E Englander (Chainnan) Mr J L Weiss Mr P N Brander Independent examiner Asher Sternlicht FCA Cohen Arnold Chartered Accountants New Burlington House 1075 Finchley Road London NWII OPU Structsrej governance and managemeot Governing Document The charity is governed by a Trust Deed dated 14 September 2001 . Appointment and Recruitment of Trustees The Trustees administer the day-to-day affairs of the charity. Every Trustee holds office until he/she shall dle or shall cease to hold office by virtue of the Trust Deed. None of the trustees have any beneficial interest in the charity. Wher¢ ther¢ is a requirement for new Trustees, these would be identified and appointed by the remaining Trustees. The Chainnan of the Trustees would be responsible for the induction of any new Trustee, which involves awareness of a Trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the Charity. A new Trustee would receive copies of the previous year, s annual report and accounts with dctail¢d explanation thcreof. 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 th¢ Charity and are sat15fied that systems are in place to mitigate those risks. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
THE ZECHARIA CHARITABLE TRUST Trustees, Annual Report (eontsnNed) Year ended 31 March 2024 Objectives and activities The Charity is established to further those puOseS both in the United Kingdom and abroad recognised as charitable by English Law. Pursuant to the objects and having regard to the guidance of the Charity Commission relating to Public Benefit, the Trnstees made grants to religious, educational and organisation for the relief of poverty. Grant Making Policy The Trustees are approached for donations by a wide variety of charitable institutions operating in the United Kingdom and abroad. The Trustees consider all requests which they receive and make donations based on the level of funds available. Grants and donations in the year totalled £76,750 (2023: £45,475). Flnancial review Income from donations and investments aggregated £59.545. Total resources expended were £85,568 resulting in net deficit of £26,023. The Charity's Statement of Financial Activities shows a net deficit of £26,023 (2023: £4 1,660 surplus) and total reserves of £763,291 (2023: £789,314). The financial results of the Charity's activities for the year to 31 March 2024 are fully reflected in the attached Financial Statetnents together with the Notes thereon. Reserves Policy 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. PIAns for future periods The Trustees plan 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 X. SASJL*tr_y&ofand signed on behalf of the board of trustees by: Mr E Englan Trustee er
THE ZECHAIUA CHARITABLE TRUST Independent Examiner's Report to the Trustees of The Zecharia Charitable Trust Year ended 31 March 2024 I report to the trustees on my examination of the financial statemcnts of The Zecharia Charitable Trust (Ihe charity,) for the year ended 31 March 2024. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charity you are responsible for the preparation of the financial slalements in accordance with the requirements of 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 the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5Xb) of the Act, INDEPENDENT EXAMINER'S STATEMENT I have Completed my examination. 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 record5 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 financial statements 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 givc 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 tei'nlicht FCA Independent examiner COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road LONDON NWI I OPU Date: 2025
THE ZECHARIA CHARITABLE TRUST Statement of Financial Activities 31 March 2024 2024 Unrestricted funds Total fuads Total funds 2023 Note Income and endowments Donations and legacies Investment income 35,400 58,916 59,545 59,545 Total income 59,545 59,545 94,316 Expenditure Expenditure on raising funds: Investment management costs Expenditure on charitable activities Total expenditure (7,677) (77,891) (85,568) (7,67D (77,891) (85,568) (6,116) (46,540) (52,656) 70 Net gains on investments Net {expeDditure) / income and net movement in fuDds (26,023) (26,023) 41,660 Reconciliation of funds Total funds brought forward TotAI funds carried forward 789,314 789?14 747,654 763,291 763291 789,314 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on page$ 6 to 12 form part of these financial statements.
THE ZECHARIA CHARITABLE TRUST Statement of Financial Position 31 March 2024 2024 2023 FAxed assets Invcstments 13 755,000 755,000 Current assets Debtors Cash at bank and in hand 14 7,988 28,787 10,167 51,074 61,241 36,775 Creditors: Amounts falling due within one year Iyet current assets 15 (28,484) (26,927) 8,291 763,291 763291 34.314 Total assets less current liabilitle8 789,314 789,314 Net assets Funds of the charity Unrestricted funds 763,291 763,291 789,314 789,314 Total charity funds 16 These financial statements w¢re approved by the board of trustees and authorised for issue on )_,¥.nd are signed on behalf of the board by: Mr E Englander Trustee The notes on pages 6 to 12 form part of these fJnanci815tstements.
THE ZECHARIA CHARITABLE TRUST Notes to the Financial Statements Year ended 31 March 2024 General informatioD The charity is registered charity in England and Wales and is unincorporated. The address of the principal office is 141B Upper Clapton Road, London, E5 9DB. 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 Ststement 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) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparatlOD The financial statements have been prepared on the historical cost basis, as modified by th¢ revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised An the period in which the estimate is revised if the revision affects only that period, or in the period of the r¢vision and future periods if the revision affects both current and future periods. The valuation of investment properties is inherently subjective, depending on many factors. including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurat¢, particularly in periods of difficult market or economic conditions. Income tax The charity is not liable to direct taxation on its income or gains, whether realised or not, as it falls within the various exemptions liable to registered charities. Accordingly, the charity does not recognise any deferred tax liability on revaluations of investments as no tax would be du¢ in the event of a disposal as the charity would benefit from the relevant exemptions, as it will apply all funds for qualifying charitable purposes.
THE ZECHARIA CHARITABLE TRUST Notes to the Financial Statements (eortllnued) Year ended 31 March 2024 Accounting policies (continued) Investment Properties Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - (i) Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from Changes in the fair value are recognised in the income and expenditure account in the period that they arise. and (li) No depreciation is provided in respect of investment properties applying the fair value model. Investment property fair value is deterniined by the trustees based on professional valuations, their understanding of property market conditions and the specific properties conccrncd using a sales valuation approach, derived from reccnt compaTable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition. Acquisitions and disposals of properties Acquisitions and disposals of properties are considered to take place at the legal completion and are included in the financial statements accordingly. Trade debtor5 The trustees use details of the age of trade debtors and the status of any disputes together with external evidence of the credit status of the counterparty in making judgements concerning any need to impair the carying values. Fund accounting General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the trustees in furtherance 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. tksignated fund5 are funds which have been set aside at the discretion of the trustees for specifi purposes. There are no designated funds as at the Balance Sheet date. Incoming resources All incoming resources arc included in the statement of financial activities when entitlement has passed to the charity. it Is probablc that the economic bcnefits 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 entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is reco]sed when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the 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 includ¢d for the contribution of general volunteers.
THE ZECHARIA CHARITABLE TRUST Notes to the Financial Stydtements (continuéd) Year ended 31 March 2024 Accounting policies fconilhued) Incoming resources (Continued) income from contracts for the supply of services is rccognised with the dclivery of the contracted service. This is classified as unrcstricted funds unlcss there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 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 classified under headings of the ststement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events. non- charitsble trading activities, and the sale of donated gth)ds. expenditure on charitable activities includes all costs incurred by a charity in undertaking activiti¢s that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to th¢ governance of th¢ charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Dir¢¢t costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable. j ustifiable and consistent basis. Grants payable These are only recognised in the accounts when a commitsnent has been made and there are no conditions to be met relating to the grant which remain in the control of th¢ charity. Finaneial instruments A financial asset or a financial liability is recognised only when the entity becomes a paty 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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impaiment at the end of each r¢porting date. If the is objective cvid¢n¢e of impaimicnt, an impairmcnt loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. Any reversals of impairn]ent are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carying amount would have been had the impairment not previously been recognised.
THE ZECHARIA cUTABLE TRUST Notes to the Financial Statements (cantinued) Year ended 31 March 2024 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 35.400 35,400 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from UK investment properties Interest receivable 58,703 842 58,703 842 58,724 192 58,724 192 59,545 59,545 58,916 58,916 Investment management costs Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Investment property management costs 7.677 7,677 6,116 6,116 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Furftds 2024 Funds 2023 Donations Paid Support costs 76,750 76,750 1,141 45.475 1,065 45,475 1,065 46,540 77,891 77.891 46.540 Expenditure on cbaritable activities by activity type Grant funding of activities Support Total fuDds Total funds cost5 2024 2023 Donations Paid Governance costs 76,750 76,750 1,141 45,475 1,065 46,540 1,141 76,750 1,141 77,891
THE ZECHARIA CEL41UTABLE TRUST Notes to the FiDancial Statements (confinued) Year ended 31 March 2024 Analysis of grants 2024 2023 Grants to institutions Donations Paid 76,750 45,475 Total grants 76,750 45,475 All donations were made to charities whose objectives are in line with the objectives of the charity. The composition of donations is shown below. 01am Chessed Yiboneh VHLT Limited 56,750 20.000 76.750 10. Net income Net income is stated after charging: 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 1,005 930 I l. Staff costs No salaries or wages have been paid to employees during the year. No staff were employed by the charity during the reporting period 12. Trustee remuneration and expenses No salaries or wages have been paid to employees, including the trustees, durtng the year. The harity did not meet any individual expenses incurred by the trustees for services provided to the charity. io-
THE ZECHARIA CHAIUTABLE TRUST Notes to the Financial Statements leoiiiints£d) Year ended 31 March 2024 13. Investments Investment properties Total Valuation At l April 2023 and at 31 March 2024 755,000 755,000 Carrying amount At 31 March 2024 755,000 755,000 755,000 At 31 March 2023 755,000 The charity's inv¢stment properties were valued by the trustees at 31 March 2024 based on the trustees, understanding of property market conditions and the specific properties concerned, using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition. b. The historical cost of the properties is £1,004 (2023: £1,004). 14. Deblors 2024 2023 Rents and charges receivable Other debtors 5,288 2,700 6.702 3,465 10,167 7,988 15. Creditors: amounts falling due Ivitbin one year 2024 2023 Trade creditors Other creditors 10,121 18,363 10,240 16,687 26,927 28,484 16. Analysls of charitable funds Unrestricted funds Atl April 2023 At31 March 2024 Income Expenditure General funds 789,314 59,545 (85,568) 763291 Atl April 2022 At31 March 2023 Income Expenditure General funds 747,654 94,316 (52,656) 789J14
THE ZECHARIA CHARITABLE TRUST Notes to the Financial Statements (eonllnued) Year ended 31 March 2024 17. Analysis of net assets between funds Unrestricted Total Funds Unrestricted Tolal Funds Funds 2024 Funds 2023 Investments Current assets Creditors less than one year Net assets 755,000 36,775 (28,484) 763,291 755,000 36,775 (28,484) 763,291 755,000 61,241 (26,927) 789,314 755,000 61,241 (26,92D 789J14 18. Related parties There have been no related party transactions in the reporting period that require disclosure. 12-