Charity Registration No. 1100105
TOVA CHAIM CHARITABLE FOUNDATION TRUSTEES' REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021
TOVA CHAIM CHARITABLE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr. H E Hamburger Mrs. R Hamburger Mr. C | Hamburger Mrs. G B H Assor Mr. D S Hamburger
Charity number
1100105
Principal address
Apartment 2 Amulree 70 Upper Park Road Salford
M7 4JA
Accountants
Jack Ross Chartered Accountants Barnfield House
The Approach Manchester M3 7BX
Bankers
Barclays Bank pic 4 Churchill Place London E14 5HP UK
TOVA CHAIM CHARITABLE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees’ report | 1-2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notestotheaccounts | 6-9 |
TOVA CHAIM CHARITABLE FOUNDATION
TRUSTEES’ REPORT
FOR THE YEAR ENDED 5 APRIL 2021
The trustees present their report and accounts for the year ended 5 April 2021.
The accounts of Tova Chaim Charitable Foundation (registration number 1100105) have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011 and 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 published in October 2019.
Structure, governance and management
The charity was established by a charitable trust deed.
The trustees who served during the year were:
Mr. H E Hamburger Mrs. R Hamburger Mr. C | Hamburger Mrs. G B H Assor Mr. D S Hamburger
The existing Trustees are responsible for the recruitment of new Trustees. New Trustees are appointed by a resolution of the Trustees passed at a special meeting.
The charity Trustees are responsible for the general control and management of the charity. The Trustees give their time freely and receive no remuneration or other financial benefit.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The Board of Trustees recognises its ultimate responsibility for risk management.
The Trustees consider all substantial risks and where appropriate will implement systems to mitigate these risks.
Objectives and activities
The object of the Charity is to set to reflect our faith and community aims, whereby each year the trustees review the objectives and activities of the Charity to ensure it continues to reflect these aims. In carrying general guidance on public benefit and in particular it’s supplementary public guidance on the advancement on religion for the public benefit.
The Charity’s aim is to continue to support facilities for the teaching and understanding of the Jewish faith throughout the country and support of communal welfare institutions dedicated to the provision of social services to care for the elderly, the sick and for their dependants.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity gives grants to suitable causes. Its fundraising income comes via the Trustees.
Achievements and performance
The trust has achieved its objectives by donating to organisations that promote the teaching and understanding of the Jewish faith and to communal welfare institutions.
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TOVA CHAIM CHARITABLE FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2021
Financial review
The fund has income in excess of expenditure of £147,594 this year. The trustees are satisfied that the funds of £825,093 are sufficient for the Charity to meet its ongoing day to day expenditure.
The charity made unrealised gains of £123,566 and realised gains of £20,646 in the year.
The trustees endeavour to hold the bare minimum of reserves necessary for the day to day running of the trust. On occasions, reserves do accumulate but this is down to a timing difference in receiving donations and making charitable distributions and, in general, the trustees attempt to distribute virtually all of the donations they receive.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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Mr. D S Hamburger Trustee
Dated: 26" January 2022
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TOVA CHAIM CHARITABLE FOUNDATION
INDEPENDENT EXAMINER’S REPORT
FOR THE YEAR ENDED 5 APRIL 2021
| report on the accounts for the year ended 5th April 2021, which are set out on pages 4 to 8.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
It is my responsibility to:
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. examine the accounts under section 145 of the 2011 Act;
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. follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
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° state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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. to keep accounting records in accordance with section 130 of the Charities Act; and
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. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act
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have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Kieran Williams ACA
for and on behalf of Jack Ross Limited Barnfield House
The Approach Manchester
M3 7BX
26" January 2022
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TOVA CHAIM CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2021
| Unrestricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| General | Investment | |||||
| Purpose | Revaluation | 2021 | 2020 | |||
| Income | fund | |||||
| Fund | ||||||
| Notes | £ | £ | £ | £ | ||
| Incoming resources from generated funds | ||||||
| Donations received | 2 | 500 | - | 500 | 500 | |
| Investment income | 3 | 48,112 | 123,566 | 171,678 | (54,420) | |
| Total incoming resources | 48,612 | 123,566 | 172,178 | (53,920) | ||
| Resources expended | 4and5 | |||||
| Charitable activities | ||||||
| Donations | 21,261 | - | 21,261 | 6,351 | ||
| Governance costs | 3,323 | - | 3,320 | 3,323 | ||
| Total resources expended | 24,584 | - | 24,584 | 9,674 | ||
| Net expenditure forthe year | 24,028 | 123,566 | 147,594 | (63,594) | ||
| Nettransfers between fund in the year | - | - | - | - | ||
| Net movement in funds | 24,028 | 123,566 | 147,594 | (63,594) | ||
| Fund balances at6 April 2020 | 726,991 | (49,492) | 677,499 | 741,093 | ||
| Fundbalancesat5April2021 | 751,019 | 74,074 | 825,093 | 677,499 |
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TOVA CHAIM CHARITABLE FOUNDATION
BALANCE SHEET
AS AT 5 APRIL 2021
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Fixed assets | |||||||
| Investments | 9 | 781,712 | 603,414 | ||||
| Current assets | |||||||
| Cash at bank and in hand | 41,881 | 72,585 | |||||
| Debtors | 10 | 1,500 | 1,500 | ||||
| Net current assets | 43,381 | 74,085 | |||||
| Total assets less current liabilities | 825,093 | 677,499 | |||||
| Income funds | |||||||
| Unrestricted funds: | |||||||
| Investment Revaluation Fund | 74,074 | (49,492) | |||||
| General Purpose Income Fund | 751,019 | 726,991 | |||||
| 825,093 | 677,499 |
The accounts were-approved by the Trustees on 26" January 2022
Yi a, ve Mr. D S HamburgerUse i, f Trustee
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TOVA CHAIM CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
1 Accounting policies
1.1. Basis of preparation
The Tova Chaim Charitable Trust is a charitable trust constituted in England and Wales. The address of the registered office is given in the charity information at the front of these financial statements. The nature of the charity's operations and principal activities are detailed in the Trustee’s Report on pages1 to 2 of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.
The charity does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
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1.2. Incoming resources These are included in the Statement of Financial Activities (SOFA) when:
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the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources and
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the monetary value can be measured with sufficient reliability.
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
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TOVA CHAIM CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2021
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1 Accounting policies
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1.3. Resources expended Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the direct pay and non-pay costs and support costs relating to those activities.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and administrative office functions.
- 1.4 Investments
Fixed asset investments are stated at market value.
2 Donations received
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Donations and gifts | 500 | 500 | ||
| Investment income | ||||
| Unrestricted | Unrestricted | Total | Total | |
| General | Investment | |||
| Purpose | Revaluation | 2021 | 2020 | |
| Income | Fund | |||
| Fund | ||||
| £ | £ | £ | 7 | |
| Income from listed investments | 12,650 | - | 12,650 | 12,332 |
| Realised gains | 20,646 | - | 20,646 | (633) |
| Unrealised gains | - | 123,566 | 123,566 | (79,173) |
| Interest receivable | 1,363 | - | 1,363 | 326 |
| Share of net rental property income surplus | 13,453 | - | 13,453 | 12,728 |
| 48,112 | 123,566 | 171,678 | (54,420) | |
| Total resources expended | ||||
| Other | Grant | Total | Total | |
| costs | funding | 2021 | 2020 | |
| = | £ | £ | £ | |
| Charitable activities | ||||
| Donations | ||||
| Grant funding of activities | - | 21,261 | 21,261 | 6,351 |
| Governance costs | 3,323 | - | 3,323 | 3323 |
| 3,323 | 21,261 | 24,584 | 9,674 |
- 3 Investment income
4 Total resources expended
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TOVA CHAIM CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2021
| 5 | Grants payable | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Donations | 21,261 | 6,351 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year.
7 Employees
There were no employees during the year.
8 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
| 9 | Fixed asset investments | |
|---|---|---|
| £ | ||
| Investments | ||
| Market value at 6 April 2020 | 506,647 | |
| Disposals at opening book value | (107,765) | |
| Acquisitions at cost | 150,808 | |
| Change in value in the year | 123,802 | |
| Market value at 5 April 2021 | 673,492 | |
| £ | ||
| Property Syndicate | ||
| Funds brought forward at 6 April 2020 | 96,767 | |
| Repayments in the year | (2,000) | |
| Share of net property rental income surplus | 13,453 | |
| Property syndicate capital account at 5 April 2021 | 108,220 | |
| Fixedassetinvestmentstotalat5April2021 | 781,712 |
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TOVA CHAIM CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2021
| 10 | Debtors | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Loans | 1,500 | 1,500 |
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