**Charity Number 1098839**
# **CHOFETZ CHAIM TRUST FOUNDATION**
# **FINANCIAL STATEMENTS**
**30 JUNE 2021**
**CHOFETZ CHAIM TRUST FOUNDATION FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2021**
|**CONTENTS**|**PAGE**|
|---|---|
|Trustees and professional advisers|**1**|
|Trustees Annual Report|**2**|
|Statement of Trustees responsibilities|**4**|
|Statement of financial activities|**5**|
|Balance sheet|**6**|
|Notes to the financial statements|**7-9**
|
**CHOFETZ CHAIM TRUST FOUNDATION**
## **TRUSTEES AND PROFESSIONAL ADVISERS**
|**Registered charity name**||
|---|---|
||CHOFETZ CHAIM TRUST FOUNDATION|
|**Charity number**|1098839|
|**Principal office**|Flat 4 Alexandra House|
||104 Bouverie Road|
||London N16 0AQ|
|**Trustees**|Mrs S N Englander|
||P Smith|
||J S Englander|
|**Accountant**|JS & CO Accountants Ltd|
||26 Theydon Road|
||London|
||E5 9NA|
|**Bankers**
|Santander|
**- 1 -**
## **CHOFETZ CHAIM TRUST FOUNDATION TRUSTEES ANNUAL REPORT** _**(continued)**_ **YEAR ENDED 30 JUNE 2021**
The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 30 June 2021.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Reference and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the financial statements.
## **THE TRUSTEES**
The trustees who served the company during the period were as follows:
Mrs S N Englander P Smith J S Englander
All major decisions are taken collectively by the trustees.
The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
## **RISK REVIEW**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
## **OBJECTIVES AND ACTIVITIES**
The charity supports the ones studying the Jewish texts.It also helps relieves financial hardship in particular but not exclusively by the provision of grants.
## **RISK MANAGEMENT**
The trustees have put in place systems to identify risks and review the systems regularly.
## **A REVIEW OF OUR ACHIEVEMENTS AND PERFORMANCES**
The Trustees are satisfied with the results.
The charity received £106,093 in donations and legacies during the year. Surplus carried forward is £3,066.
**- 2 -**
## **CHOFETZ CHAIM TRUST FOUNDATION TRUSTEES ANNUAL REPORT** _**(continued)**_ **YEAR ENDED 30 JUNE 2021**
## **RESERVES**
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure, and they feel fortunate in having been able to maintain that level of reserves.
## **PLANS FOR THE FUTURE**
As part of our ongoing plans for the future, we are looking to carry on with our successful work and are constantly fundraising to cover our expenses.
Signed on behalf of the trustees
## **Trustee**
25[th] July 2022
**- 3 -**
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
**- 4 -**
## **CHOFETZ CHAIM TRUST FOUNDATION**
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 June 2021
|Notes
**INCOMING RESOURCES**
**Incoming resources from generated**
3
Donations and Grants
**Total Incoming resources**
**RESOURCES EXPENDED**
Administration Costs
4
Charitable activities
5
Governance costs
6
**Total resources expended**
**NET INCOMING/(OUTGOING)**
**RESOURCES**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**2021**
**Total Funds **
£
£
106,093
106,093
106,093
106,093
0
107,232
107,232
1,164
1,164|**2020**
**Total Funds**
£
91,831|
|---|---|---|
|||91,831
3,850
91,952
1,113|
||108,396
108,396
-2,303
-2,303
5,369
5,369
3,066
3,066|96,915
-5,084
10,453|
|||**5,369**|
The Notes form part of the financial statements
Page 6
## **CHOFETZ CHAIM TRUST FOUNDATION**
|**2021**
Notes
£
£
**CURRENT ASSETS:**
Cash at bank and in hand
4,182
4,182
**CREDITORS: amounts falling**
**due within one year**
7
-1,116
**Net Current assets/(liabilities)**
3,066
**NET CURRENT ASSETS:**
3,066
**FUNDS**
8
Unrestricted funds
3,066
**TOTAL FUNDS**
3,066
BALANCE SHEET
30-Jun-21|**2020**
£
£
5,909
5,909
-540
5,369
5,369
5,369
5,369|**2020**
£
£
5,909
5,909
-540
5,369
5,369
5,369
5,369|
|---|---|---|
||||
|||5,369|
|||5,369|
|||5,369|
Approved by the board of Trustees on: 25 July 2022 And signed on their behalf by:
Trustee
The Notes form part of these financial statements
Page 7
## **CHOFETZ CHAIM TRUST FOUNDATION**
## NOTES TO THE FINANCIAL STATEMENTS
## #
for the year ended 30 June 2021
## 1 **ACCOUNTING POLICIES**
## **Accounting convention**
These accounts have been prepared in accordance with the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015). In preparing the accounts, the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP) issued in March 2005. Where there is a conflict between the FRSSE and the SORP, the SORP has been adopted in accordance with paragraph 419ff of the SORP.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on 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
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## 2 **TRUSTEES REMUNERATION AND BENEFITS**
No trustee received remuneration, allowance for or reimbursement of expenses.
## 3 **INCOMING RESOURCES FROM GENERATED FUNDS**
||||**Total**|
|---|---|---|---|
||**Unrestricted**|**Total**|**Funds**|
||**Funds**|**Funds 2021**|**2020**|
||**£**|£|£|
|Donations and Grants|**106,093**|**106,093**|**91,831**|
|**ADMINISTRATION COSTS**||||
||||**Total**|
||**Unrestricted**|**Total**|**Funds**|
||**Funds**|**Funds 2021**|**2020**|
||**£**|£|£|
|Rent||0|3,850|
||**0**|**0**|**3,850**|
|**COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE**||||
||||**Total**|
||**Unrestricted**|**Total**|**Funds**|
||**Funds**|**Funds 2021**|**2020**|
||**£**|£|£|
|Grants to individuals|107,232|107,232|91,952|
||107,232|107,232|91,952|
## 4 **ADMINISTRATION COSTS**
## 5 **COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE**
Page 9
## **CHOFETZ CHAIM TRUST FOUNDATION**
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2021
## 6 **GOVERNANCE COSTS**
|Accountancy
Bank charges
7
**CREDITORS: AMOUNTS FALLING**
**DUE WITHIN ONE YEAR**
Accruals
8
**MOVEMENTS IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Unrestricted**
**Funds**
**£**
576
588|**Total Funds**
**2021**
£
576
588|**Total Funds**
**2020**
£
540
573|
|---|---|---|---|
||1,164|1,164|1,113|
||**At 1.7.20**
£
5,369|**2021**
£
1,116
1,116
**Net movement**
**in funds**
£
-2,303
-2,303
**Resources**
**expended**
**£**
108,396
108,396|**2020**
£
540|
||||540|
||||**At 30.06.21**
£
3,066|
||5,369||3,066|
||as follows:
**Incoming**
**resources**
**£**
106,093||**Movement in**
**funds**
**£**
-2,303|
||106,093||-2,303|
## 9 **TAXATION**
CHOFETZ CHAIM TRUST FOUNDATION is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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