REGISTERED COMPANY NUMBER: 04857643 (England and Wales) REGISTERED CHARITY NUMBER: 1101875 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FOR PZC HAGSHAMA Mdinek Fine LLP Chartered Accountsnts Flrst Hoor, WSnston House 349 Regents Park Road London N3 IDH
PZC HAGSHAMA CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf 2024 Page Report of the Trustees I to 2 Independent Examiner's Report ststement of Flnanclal Activities Balance Sheet Notes to the Flnanclal Statements 6 to 10
PZC HAGSHAMA (REGIsfERED NUMBER: 04857643) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 The trustees who are also directors of the charity for the purwlses of the Companie5 Act 20061 present thelr report wlth the flnanclal ststements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accountlng and Reportlng by Charitie5'. Statement of Recommended Practtce applicable to charities preparing thelr accounts In accordance with the Flnandal Rewrting Standard applicable in the UK and Republlc of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Charltable objects The objects of the charity are to promote and educate, both in the Unlted Kingdom and Worldwidei youth students and the wlder publlc of all nationalitles and religlous denomlnatlons, In all aspects of Jewish life and Identlty, In Israel and the Diaspora. To achleve the objects, the Trust makes charStable donatlons and grants to Jew15h organlsatlons and other charities. The trustees conflrm that they have referred to the gUIdan contained in the Charity Commlssion's general guldance on publlc beneflt and in partlcular to Its supplementary public beneff( guIdaft on advancing education when revlewlng the charlvs aims and objectives and in planning future activitles and settlng the grant making poliq for the year. There have been no materlal changes Sn the objectlves or policles of the charlty durlng the year. ACHIEVEMENT AND PERFORMANCE Charitable artlvltles During the year a totsl of £149,953 was distrlbuted to charltable Instltutlons. FINANCIAL REVIEW The Trustees malntaln a programme In accordance wlth the Trust's 5tsted objects. The net Income for the year shows a surplus of £51,972. The surplus on unrestrlcted funds has been transferred to the endowment funds in accordance wlth the Trustees, policy In prevlous years. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document Status The Charity was Incorporated as a result of the dSversificatlon of World Hab3nim. The charlty Is constituted as a limSted companyi limlted by guarantee, as defined by the Companles Act 2006 and is governed by Its Memorandum and Ardcles of Association dated 6th August 2003. Organlsatlonal strurture The trustees meet throughout the year to conslder the various ways of advanclng the wlnclpal actlvltles of the trust, The power to appolnt new trustees vests In the current board. Risk management The trustees have a duty to Identlfy and revlew the rlsks to whlch the charity is exposed ond to ensure approprlate controls are in place to provtde reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 04857643 (England and Wales) Registered Charity number 1101875 Registered office First Floor, Winston House 349 Regents Park Road London N3 IDH Page I
PZC HAGSHAMA (REGisrtRED IIUMOERI 04857643) REPORT OF THE TRiisfEÉS FOR THE YEAR ENDED 31 AUGiIST 2024 Ofer Sthohet Oavtd Samp50n Teather Ram Zdafee Tom Sharon Independent Examlner Mr Dankl Flne, FCA Mellnek Flne LLP Qmrtered Accountants Rrst Roor, Wfnston House 349 Regents Park Road London N3 IDH If &)Lf Approved by order of the board of tNstees on ...... . . and slgned on Its l)ehalf trrf: Ofer bknohet- T P•3e 2
INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF PZC HAGSHAMA Independent examiner's report to the trustees of Pzc Hagshama ('the Company.) I report to the challty tnjstees on my examinatson of the acciyjnts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustee5 of the Company (and also its directOTS for the purposes of company law) you are responsible for the prepar3tion of the accounts in accordance with the requlrements of the Companles Act 2006 (the 2006 Act,). Havlng satlsfled myRlf that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are ellgible for Independent examination, I rewrt in respect of my examination of your charity's accounts a5 carrled out under Sectioll 145 of the Charitie5 Art 2011 {'the 2011 Act,). In carrying out my examlnation I have followed the Directlons g6ven by the Charlty CommLsslon under Sectlon 145(S) (b) of the 2011 ACL Independent examiner's statement I have completed my examination. I confirm that no rnatt5 have come to my attentlon In connectlon wlth the examlnatlon glving me cause to believe: accountlng records were not kept In respect of the Company as required by Sectlon 386 of the 2006 Act; or the accounts do not accord with those records; or the accounts do not comply with the accounting requlrements of Sectlon 396 of the 2006 Art other than any requirement that the accounts gNe a true and fair e whkh Is not a matter consldered as part of an Independent examinatSon' or the accounts have not been prepared in accordance wlth the methods and prlnclples of the Ststement of Recommended Practlce for accountlng and reportlng by charlties (applicable to charitles preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable in the UK and Republic of Ireland (FRS 102)). T have no concern5 and have come across no other matter5 In connection wlth the examinatlon to whlch attentlon should be drawn in this repJrt In order to enable a proper understandlng of the accounts to be reached. Mr Danlel Flne, FCA Melinek Flne LLP Chartered Accountsnts Flrst Floor, Winston House 349 Regents Park Road London N3 IDH 20 June 2025 Page 3
PZC HAGSHAMA STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATXNG AN XNCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024 2024 Total funds 2023 Total funds Unrestritted fund Endowment fund Note5 INCOME AND ENDOWMENTS FROM Donatlons and legacles 177,523 177,523 Investment income Other Income ii,ooi 1,698 ii,ooi 1,698 11,582 12,544 Total 190,222 190,222 24,126 EXPENDITURE ON Charltable actlvltles Charitable actlvities 163,346 163,346 10,674 Net galn51(losses) on investments 25,096 25,096 (25,262) NET INCOMEI{EXPENDITURE) Transfers between funds 51,972 (51,972) 51,972 (11,810) 51,972 Net movement in funds 51,972 51,972 (11,810) RECONCXLIATION OF FUNDS Total funds brought forward 485h19 485,419 497,229 TOTAL FUNDS CARRIED FORWARD 537,391 537,391 485,419 The notes form part of these financial statements Page 4
PZC HAGSHAMA (REGisfERED NIIMBERI 0485Y643) BALANCE SHEET 31 AUGusf 2024 2014 2023 502,518 40,760 487.621 3,111 Cash ot bonk 543,278 490,732 CREDITORS Amounts laNlng due vlthln one year (5,887) 15J13) NEf CURRENT ASSETS 537.391 485,419 TOTAL ASSEfs LESS CURRENT LIABILmts 537,391 485,419 NEYASSETS 537,391 485,419 FUNDS En¢Jwment funds 537,391 485,419 TOTAL FUNDS 537,391 48S,419 7he tharftable cofflpanyls entlued lo exemptbn lffjm audlt under Sectloft 477 of the Companles £t 21)06 for the y¢•r end&1 31 August 2024. Ihe members hm not ffqulred the company to otknln an oudlt ol Its nnancknl statemenls for Ihe year endLNJ 31 August 2024 In oca)rdance wllh Settlon 476 of the Comp4nlcs Act 2006. The tru#ees acknovlage thelr responslblllues for (a) e05uilng that the tharttable c¢mpJny keeps ittntIng records that coTrWy wlth ScdlM$ 386 and 387 01 Ihe Companl¢s Ad 21x16 and (b) preparfty nnandal ststemerts whkh gt¥o i true and lalr of the stato ol aifals 01 tho charftsblo ctynp)ny Js at the end of eath flnanclal year and of Its surplus or delklt lor ooch Ilnand)l year In accothnco wlth tho rtyulrcments of tbn5 394 and 395 jnd vknl¢h oiheFYlso comply wth tho requlromonts ol tho Companles Act 2006 ielattng to linJnclal statoments, so far as opplloble to ltho charftabfe company. These flnandal statements havo been epad In acconlance hlth the wo¥tslons appllcablo to thailtablo companlos subjert to th small compantes regFme. The fln•ndBI statements weffj approwd ty the Board of Th15t¢u rffjd authorfsed for Issuo on p.Lf.......... ond were sbned on Its behair ty: Ihe notes ftimi (lnda1 slaternents
PZC HAGSHAMA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES Basls of preparlng the financial statements The financial statements of the charitable company, whlch Is a public beneflt entity under FRS 102, have been prepared In accordance with the Charitles SORP (FRS 102) 'Accountlng and Reportlng by Charities.. Statement of Recommended Practlce appllcable to charlties preparing thelr accounts in accordance wlth the Financlal Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) (effertive l January 2019),, Financial Reportlng Standard 102 'The Financial RetJ)rttng Stsndard applicaile in the UK and Republic of Ireland. and the Companles Act 2006. The financlal statements have been prepar1 under the historical cost convenuon. Flnantlal reporting standard 102 - reduced disclosure exemptlons The charitable company has taken advantage of the following disclosure exemptlon In preparlng these flnanclal statements, as permitted by FRS 102 Yhe Financlal Reportlng Standard applicable In the UK and Republlc of Irelond,; the requlrements of Section 7 Statwnent of Cash Fbws. Income All Income is recognlsed In the Ststement of Flnanclal ArtlvStles once the charfty has entitlement to the funds, St is probable that the income wlll be recVed and the amount can be measured lab[y. Expendlture Liabllltle5 are recognlsed as expendlture as soon as there is a legal or constructlve obllgatlon commltting the charlty to that expendlture, it Is probable that a transfer of economlc benefits wlll be requlred In settlement and the amount of the obligatlon can be measured rellably. Expendlture is accounted for on an accruals basis and has been classlfled under headlngs that aggregate all cost related to the category. Where costs cannot be dlrectly attrlbuted to particular headlngs they have been allocated to athvltles on a basls conslstent wlth the use of reSours. Grants offered subjett to condltlons whlch have not been met at the year end date are noted as a commltment but not accrued as expendlture. Taxatlon The charlty Is exempt from corpjratlon tsx on tts charltable artlvltle& Foreign currencles Assets and Ilabllitles In forelgn currencles are translated Into Sterling at tbe rates of exchange rullng at the balance sheet date. Transaction5 in foreign currencles are translated Into sterling at the rate of exchange rullng at the date of transaction. Exchange dIffenCeS are taken Into account In arrmng at the operatlng result. Flnanclal Instruments A flnanclal asset or a flnanclal liabillty Is rec(KJnised only when the entity becomes a paty to the contractual provisions of the Instrument. Baslc financial instruments are initlally recognised at the transactlon wice, unless the arrangement constltutes a flnanclng transaction, where it is recognised at the present value of the future ptyments discounted at a market rate of interest for a similar debt Instrument. Debt Instrurnents are subsequently measured at amortised cost unle55 they are classified as receivable wlthin one year In which case they are measured at the undiscounted amount of the cash or other conslderation expected to be received net of Impalrment. Flnanclal Ilabllltles that are classffled as payable within one year ue subsequently measured at the und15counted amount of the cash or other conslderatlon expected to be pard. Financial assets and liabilities are offset and the net amount rewjrted in the Balan Sheet when there Is an enforceable rlght to set off the recognlsed amounts and there Is an intention to settle on a net basls or to reali5e the asset or settle the liability simultanetjusly. Page 6 contlnued...
PZC HAGSHAMA NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2024 INVESTMENT INCOME 2024 2023 DlvSdends Deposlt account interest CutT asset Investment Incle 5,923 15 5,063 5,968 5,609 ii,ooi 11,582 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remuneratlon or other befits for the year ended 31 August 2024 nor for the year ended 31 August 2023. Trustees, expenses There were no trustees, eXnSeS pald for the year ended 31 August 2024 nor for the year ended 31 August 2023. COMPARATIVES FOR THE sfATEMENT OF FINANCIAL ACTIvrrIES Unrestricted fund Endowment fund Total funds INCOME AND ENDOWMENTS FROM Investment income Other income 11,582 12,544 11,582 12,544 Total 24,126 24,126 EXPENDITURE ON Charitable artivitiei Charltable actlvitles 10,674 10,674 Net galnsl(losses) on Investments (25,262) (25,262) NEf INCOMEI(EXPENDITURE) Transfers between funds (11,810) 11,810 (11,810) (11,810) Net movement In funds (11,810) (11,810) RECONCILIATION OF FUNDS Total funds brought forward 497,229 497,229 TOTAL FUNDS CARRIED FORWARD 485,419 485,419 Page 7 continued...
PZC HAGSHAMA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024 CURRENT ASSET INVESTMENTS 2024 2023 other investments 502,518 487,621 Investment with London and Capital CREDITORS: AMOUNTS FALLING DUE wrfHIN ONE YEAR 2024 2023 Other creditors Accruals and deferred Income 415 5,472 1,154 4,159 S,887 5,313 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unre*rlcted fund Endowment fund Current assets Current Ilabllltles 1,561 (1,561) 541,717 (4,326) 543,278 (5,887) 490,732 (5,313) 537,391 537,391 485,419 MOVEMENT IN FUNDS Net movement In funds Transfers beeen funds At 31.8.24 At 1.9.23 Unrestrirted funds General fund 51,972 (51,972) Endowment funds Endowment funds 485,419 51,972 537,391 TOTAL FUNDS 485,419 51,972 537,391 Net movement In funds, Included in the a$Ve are as follows: Incomlng resources Resources expended Galns and losses Movement in funds Unrestrlcted funds General fund 190,222 (163,346) 25,096 51,972 TOTAL FUNDS 190,222 (163,346) 25,096 51,972 Page 8 continued...
PZC HAGSHAMA NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 MOVEMENT IN FUNDS - continued Comparatives for movemert ift funds Transfers beleen fund5 movement in fund5 At 31.8.23 At 1.9.22 Unrestrlrted funds General fund (11,810) 11,810 Endowment funds Endowment funds 497,229 (11,810) 485,419 TOTAL FUNDS 497,229 (11,810) 485,419 Comparatlve net movement In funds, Induded In the ab)ve are as follovts: Incoming resources Resour expended Gains and losse5 Movement In funds Unrestrlcted funds General fund 24,126 (10,674) (25,262) (11,810) TOTAL FUNDS 24,126 (10,674) (25,262) (11,810) A current year 12 months and prlor year 12 months comblned positSon Is as follows.. Net movement In funds Transfers beleen funds At 31.8.24 At 1.9.22 Unrestrlcted funds General fund AKI,162 (40,162) Endowment funds Endowment funds 497,229 40,162 537,391 TOTAL FUNDS 497,229 40,162 537,391 A current year 12 months and proor year 12 months comblned net movement In funds, Included in the above are as follows: Incomlng resour5 Resources expended Galns and losses Movement In funds Unrestrirted funds General fund 214,348 (174,020) (166) 40,162 TOTAL FUNDS 214,348 {174,020) (166) 40,162 Page 9 continued...
PZC HAGSHAMA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGusf 2024 RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 August 2024. Page 10