COMPANY REGISTRATION NUMBER: 04380789 CHARITY REGISTRATION NUMBER: 1095748
Chasdei Yitzok Charities Limited Company Limited by Guarantee Unaudited Financial Statements 31 May 2024
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 May 2024
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 2 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 to 10 |
Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 May 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 May 2024.
Reference and administrative details
Registered charity name
Chasdei Yitzok Charities Limited
Charity registration number 1095748 Company registration number 04380789 Principal office and registered Unit 3 Edge Business Centre office Humber Road London NW2 6EW
The trustees
J Bleier M Rokach J Bleier Independent examiner D Schwarz FCCA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Structure, governance and management
Chasdei Yitzok Charities Limited is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 25 February 2002 as a company and the company number is 04380789. It was registered as a charity on 31 January 2003 with a charity number 1095748.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 May 2024
Objectives and activities
The charity's objects are the advancement of the Jewish faith; the advancement of Jewish education including the provision of educational assistance to Jewish children with disabilities; the relief of poverty amongst the Jewish community and the provision of facilities for the recreation and leisure time occupation of young Jewish persons with the object of improving their conditions of life. The charity has invested in property to produce income to achieve these objects.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant-Making Policy
The Charity receives many applications for grants, both by mail and verbally. Each application is considered against the criteria established by the Charity is well known within its community and there are many requests for grants. Feedback received is used to monitor the quality of grants.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
During the year, the charity received donations of £100,000 and investment income of £4,892 and spent £217,159 on its charitable activities including grant expenditure and support costs.
Financial review
As at 31 May 2024 the charity held free unrestricted reserves of £31,151 (2023:£143,418).
The trustees' annual report and the strategic report were approved on 4 February 2025 and signed on behalf of the board of trustees by:
J Bleier Trustee
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Chasdei Yitzok Charities Limited
Year ended 31 May 2024
I report to the trustees on my examination of the financial statements of Chasdei Yitzok Charities Limited ('the charity') for the year ended 31 May 2024.
Responsibilities and basis of report
The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
4 February 2025
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 May 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 100,000 | 100,000 | – |
| Investment income | 6 | 4,892 | 4,892 | 15,848 |
| -------------------------------- | -------------------------------- | ---------------------------- | ||
| Total income | 104,892 | 104,892 | 15,848 | |
| ================================ | ================================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | (217,159) | (217,159) | (1,986,002) |
| -------------------------------- | -------------------------------- | ----------------------------------------- | ||
| Total expenditure | (217,159) | (217,159) | (1,986,002) | |
| ================================ | ================================ | ========================================= | ||
| -------------------------------- | -------------------------------- | ----------------------------------------- | ||
| Net expenditure and net movement in funds | (112,267) | (112,267) | (1,970,154) | |
| ================================ | ================================ | ========================================= | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 143,418 | 143,418 | 2,113,572 | |
| -------------------------------- | -------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 31,151 | 31,151 | 143,418 | |
| ================================ | ================================ | ========================================= |
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 pages 6 to 10 form part of these financial statements.
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Statement of Financial Position
31 May 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 32,364 | 148,789 | |
| Creditors: amounts falling due within one year | 14 | 1,213 | 5,371 |
| ---------------------------- | -------------------------------- | ||
| Net current assets | 31,151 | 143,418 | |
| ---------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 31,151 | 143,418 | |
| ---------------------------- | -------------------------------- | ||
| Net assets | 31,151 | 143,418 | |
| ============================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 31,151 | 143,418 | |
| ---------------------------- | -------------------------------- | ||
| Total charity funds | 15 | 31,151 | 143,418 |
| ============================ | ================================ |
For the year ending 31 May 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 4 February 2025, and are signed on behalf of the board by:
J Bleier Trustee
The notes on pages 6 to 10 form part of these financial statements.
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 3 Edge Business Centre, Humber Road, London, NW2 6EW.
2. 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 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 Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the 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.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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 be reliably measured. The following specific policies are applied to particular categories of income:
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Incoming resources (continued)
- 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.
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 statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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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. Direct 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, justifiable and consistent basis.
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.
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 100,000 | 100,000 | – | – |
| ================================ | ================================ | ============== | ============== | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 4,892 | 4,892 | 15,848 | 15,848 |
| ======================= | ======================= | ============================ | ============================ |
6. Investment income
7. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable activities | 216,416 | 216,416 | 1,985,360 | 1,985,360 |
| Support costs | 743 | 743 | 642 | 642 |
| -------------------------------- | -------------------------------- | ----------------------------------------- | ----------------------------------------- | |
| 217,159 | 217,159 | 1,986,002 | 1,986,002 | |
| ================================ | ================================ | ========================================= | ========================================= | |
| Expenditure on charitable activities by activity type | ||||
| Grant funding | Support | Total funds | Total fund | |
| of activities | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Charitable activities | 216,416 | – | 216,416 | 1,985,360 |
| Governance costs | – | 743 | 743 | 642 |
| -------------------------------- | -------------- | -------------------------------- | ----------------------------------------- | |
| 216,416 | 743 | 217,159 | 1,986,002 | |
| ================================ | ============== | ================================ | ========================================= |
8. Expenditure on charitable activities by activity type
9. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2024 | Total 2023 | |
| £ | £ | £ | |
| Governance costs | 742 | 742 | 642 |
| ============== | ============== | ============== |
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
10. Analysis of grants
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Grants to institutions | |||
| Achisomoch | 64,720 | – | |
| Asser Bishvil Foundation | – | 10,950 | |
| Beauland Ltd | – | 10,950 | |
| Dushinsky Trust | 10,360 | – | |
| Friends Of Galanta | 32,090 | – | |
| Grants under £10,000 | 72,146 | 63,650 | |
| Greatgreen | – | 10,950 | |
| Kupath Gemach Chaim Vochesed Viznitz | – | 20,000 | |
| Mifal Hachessed Vehatzdoko | 20,000 | – | |
| Newpier | – | 21,000 | |
| Parkwater Foundation | – | 230,000 | |
| Richmond Trust Fund | – | 605,660 | |
| Rontades Ltd | – | 1,000,000 | |
| Shiras Devorah Ltd | 17,100 | – | |
| U T A | – | 12,200 | |
| -------------------------------- | ----------------------------------------- | ||
| 216,416 | 1,985,360 | ||
| -------------------------------- | ----------------------------------------- | ||
| Total grants | 216,416 | 1,985,360 | |
| ================================ | ========================================= | ||
| 11. | Independent examination fees | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 600 | – | |
| ============== | ============== |
12. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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Chasdei Yitzok Charities Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 May 2024
14. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,200 | 600 |
| Other creditors | 13 | 4,771 |
| ----------------------- | ----------------------- | |
| 1,213 | 5,371 | |
| ======================= | ======================= |
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 June 2023 | Income | Expenditure | 31 May 2024 | |
| £ | £ | £ | £ | |
| General funds | 143,418 | 104,892 | (217,159) | 31,151 |
| ================================ | ================================ | ================================ | ============================ | |
| At | At | |||
| 1 June 2022 | Income | Expenditure | 31 May 2023 | |
| £ | £ | £ | £ | |
| General funds | 2,113,572 | 15,848 | (1,986,002) | 143,418 |
| ========================================= | ============================ | ========================================= | ================================ | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2024 | |||
| £ | £ | |||
| Current assets | 32,364 | 32,364 | ||
| Creditors less than 1 year | (1,213) | (1,213) |
||
| ---------------------------- | ---------------------------- | |||
| Net assets | 31,151 | 31,151 | ||
| ============================ | ============================ | |||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Current assets | 148,789 | 148,789 | ||
| Creditors less than 1 year | (5,371) | (5,371) |
||
| -------------------------------- | -------------------------------- | |||
| Net assets | 143,418 | 143,418 | ||
| ================================ | ================================ |
16. Analysis of net assets between funds
17. Related parties
Mr J Bleier, a director and trustee of the charity is also a director and trustee of Rontades Ltd. During the year, Rontades Ltd donated £100,000 to the charity .
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