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2023-04-05-accounts

Charity Registration No. 1100105

TOVA CHAIM CHARITABLE FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

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 plc 1 Churchill Place London E14 5HP UK

TOVA CHAIM CHARITABLE FOUNDATION

CONTENTS

Page
Trustees’ report 1-2
Independent examiner's report 3
Statement offinancial activities 4
Balance sheet 5
Notestotheaccounts 6-9

TOVA CHAIM CHARITABLE FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023

The trustees present their report and accounts for the year ended 5 April 2023.

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 2023

Financial review

The fund has expenditure in excess of income of £51,144 this year. The trustees are satisfied that the funds of £852,517 are sufficient for the Charity to meet its ongoing day to day expenditure.

The charity made unrealised losses of £43,395 and realised gains of £303 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: 10" October 2023

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TOVA CHAIM CHARITABLE FOUNDATION

INDEPENDENT EXAMINER’S REPORT

FOR THE YEAR ENDED 5 APRIL 2023

| report on the accounts for the year ended 5th April 2023, which are set out on pages 4 to 9.

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:

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:

eC. Murakoyyn

Faisal Mustafa ACCA

for and on behalf of Jack Ross Limited Barnfield House

The Approach Manchester M3 7BX

10" October 2023

3

TOVA CHAIM CHARITABLE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2023

Unrestricted Unrestricted Total Total
General Investment
Purpose Revaluation 2023 2022
Income fund
Fund
Notes £ £ £ £
Incoming resources from generated funds
Donations received 2 500 - 500 29,125
Investmentincome 3 28,590 (43,395) (14,805) 69,075
Total incoming resources 29,090 (43,395) (14,305) 98,200
Resources expended 4 and 5
Charitable activities
Donations 33,067 - 33,067 15,509
Governance costs 3,772 - 3,772 4,123
Total resources expended 36,839 - 36,839 19,632
Netexpenditure fortheyear (7,749) (43,395) (51,144) 78,568
Nettransfers between fund in the year - - -
Netmovement in funds (7,749) (43,395) (51,144) 78,568
Fund balances at 6 April 2022 769,567 134,094 903,661 825,093
Fundbalancesat5April2023 761,818 90,699 852,517 903,661

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TOVA CHAIM CHARITABLE FOUNDATION

BALANCE SHEET

AS AT 5 APRIL 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investments 9 797,666 838,083
Current assets
Cashatbankandinhand 53,351 64,078
Debtors 10 1,500 1,500
Netcurrentassets 54,851 65,578
Total assets less current liabilities 852,517 903,661
Income funds
Unrestricted funds:
Investment Revaluation Fund 90,699 134,094
General Purpose Income Fund 761,818 769,567
852,517 903,661

The accounts wesé approved by the Trustees on 10" October 2023 Mr. Dlim, Trustee

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TOVA CHAIM CHARITABLE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

1 Accounting policies

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 pages 1 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 providea ‘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.

1.2. Incoming resources These are included in the Statement of Financial Activities (SOFA) when: - the charity becomes entitled to the resources; - the trustees are virtually certain they will receive the resources and - 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 2023

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.

Fixed asset investments are stated at market value.

2 Donations received

Donations and gifts

2023 2022
£ £
500 29,125
Unrestricted Unrestricted Total Total
General Investment
Purpose Revaluation 2023 2022
Income Fund
Fund
£ £ £ £
Incomefrom listed investments 13,921 - 13,921 11,151
Realised gains 303 - 303 6,739
Unrealised gains - (43,395) (43,395) 36,106
Interest receivable
Share ofnet rental property income surplus		 1,441
12,925		 -
-		 1,441
12,925		 1,344
13,735
28,590 (43,395) (14,805) 69,075
Total resources expended
Other Grant Total Total
costs funding 2023 2022
£ £ £ £
Charitable activities
Donations
Grantfunding ofactivities . 33,067 33,067 15,509
Governance costs 3,772 - 3,772 4,123
3,772 33,067 36,839 19,632

4 Total resources expended

4

TOVA CHAIM CHARITABLE FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

5 _‘ Grants payable

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2023 2022
£ £
Donations 33,067 15,259
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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

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£
Investments
Market value at 6 April 2022 720,928
Disposals at opening book value (19,740)
Acquisitions at cost 11,088
Change in value in the year (39,890)
Market value at 5 April 2023 672,386
£
Property Syndicate
Funds brought forward at 6 April 2022 117,155
Repayments in the year (4,800)
Share of net property rental income surplus 12,925
Property syndicate capital account at 5 April 2023 125,280
Fixed asset investments total at 5 April 2023 797,666
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8

TOVA CHAIM CHARITABLE FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

10 Debtors 2023 2022
E £
Loans 1,500 1,500

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