Charity registration number 1102612
THE BRITISH FRIENDS OF ZICHRON MENACHEM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE BRITISH FRIENDS OF ZICHRON MENACHEM
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr. E. Seliger Mr. B Resnick Mr. R Green Mr. W Salkinder (Appointed 9 July 2023) Charity number 1102612 Principal address 30 Brookside Road London NW11 9NE Independent examiner Mike Haberfeld BSc FCA Landau Morley LLP 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ Solicitors RadcliffesLeBrasseur 5 Great College Street Westminster London SW1P 3SJ
THE BRITISH FRIENDS OF ZICHRON MENACHEM
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
THE BRITISH FRIENDS OF ZICHRON MENACHEM
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2019)
Objectives and activities
The ultimate purpose of the charity is to increase the quality of life of children with cancer and their families.
The charity achieves its objectives by organising or contributing towards summer camps in the UK or other countries for young cancer patients. In addition, the charity similarly organises or contributes to annual "respite holidays" for the parents of children suffering from cancer. A secondary objective is to provide intermittent financial support to Zichron Menachem in Israel to assist it with its broad activities. These funds have played a role in growth and development of Zichron Menachem in Israel, helping make it the first support organisation that families turn to for support and advice after a child is diagnosed with cancer.
The charity raises funds to support its charitable activities by holding specific events to increase awareness of the charity as well as specific fundraising activities. An example of a specific campaign is the hair cutting campaign where young women are encouraged to grow their hair and raise sponsorship. The hair is then cut and used to make wigs for the cancer patients in Israel and the UK.
Volunteers are used to a limited extent and assist with summer camps, respite holidays and fundraising events.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its activities for the year and, as can be seen from this Report, the charity's aims are for the public benefit.
Achievements and performance
Thirty-seven mothers and fathers attended the parents’ retreat in May 2022. It was a major success enabling these special parents to recharge their batteries to help them cope with the struggle of caring for a sick child whilst at the same time, caring for that child’s other siblings.
We held three flagship hair parties during the year at which over 100 girls who donated their hair participated. As well as having a great afternoon with their families they felt good about having grown their hair which is made into custom-made wigs for sick children. They also felt accomplished that they succeeded in raising sponsorships for the hair helping Zichron Menachem defray the costs of producing these custom-made wigs and provide other activities for these special children.
Financial review
A summary of the charity's transactions and of its financial position is shown in the financial statements together with the accompanying notes.
The policy on reserves is to build up funds, in particular to meet camp expenses and specific requests from Zichron Menachem in Israel. At the year end, the Charity held unrestricted free reserves of £157,030 (2022: £72,176).
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.
Structure, governance and management
The British Friends of Zichron Menachem is governed by a Trust Deed, dated 21 January 2004.
The charity is informally affiliated to Zichron Menachem, an Israeli charity which provides support and assistance to Israeli children who have cancer, and their families. Therefore, locally the charity works closely with Zichron Menachem in Israel to ensure that the UK activities and contribution are focused and relevant.
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The trustees who served during the year and up to the date of signature of the financial statements were: Mr. E. Seliger Mr. B Resnick Mr. R Green Mr. W Salkinder (Appointed 9 July 2023)
The trustees have complementary skills that help run the charity effectively. Mr Seliger is the day-to-day manager of Zichron Menachem UK and is the primary liason with Zichron Menachem in Israel; Mr Resnick is an accountant by profession and oversees governance and finance; Mr Green founded the emergency response and ambulance service Hatzola and he brings an understanding of health and wellness to the charity.
The power of appointing trustees is vested in the existing trustees. New trustees are recruited from personal contacts of existing trustees. Induction will be carried out by discussion with existing trustees and training will depend on their previous knowledge and experience.
The trustees determine the general policy of the charity. Mr. E. Seliger acts as Chairman and is responsible for overseeing the day to day running of the UK activities.
The trustees' report was approved by the Board of Trustees.
Mr. E. Seliger Trustee
8 January 2024
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE BRITISH FRIENDS OF ZICHRON MENACHEM
I report to the trustees on my examination of the financial statements of The British Friends of Zichron Menachem (the charity) for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 financial statements to be reached.
Mike Haberfeld BSc FCA
Landau Morley LLP 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX
Dated: 8 January 2024
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 2 140,646 - Investments 3 852 - Total income 141,498 - Expenditure on: Raising funds 4 43,709 - Charitable activities 5 13,884 14,092 Total expenditure 57,593 14,092 Net incoming/(outgoing) resources before transfers 83,905 (14,092) Gross transfers between funds 785 (785) Net income/(expenditure) for the year/ Net movement in funds 84,690 (14,877) Fund balances at 1 April 2022 72,995 21,000 Fund balances at 31 March 2023 157,685 6,123 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 140,646 106,204 13,460 852 - - 141,498 106,204 13,460 43,709 35,250 - 27,976 170,659 25,460 71,685 205,909 25,460 69,813 (99,705) (12,000) - - - 69,813 (99,705) (12,000) 93,995 172,700 33,000 163,808 72,995 21,000 |
Total 2022 £ 119,664 - 119,664 35,250 196,119 231,369 (111,705) - (111,705) 205,700 93,995 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Income funds Restricted funds 13 Unrestricted funds General funds 14 |
2023 £ 16,573 150,899 167,472 (4,319) 157,685 |
£ 655 163,153 163,808 6,123 157,685 163,808 |
2022 £ 1,524 96,868 98,392 (5,216) 72,995 |
£ 819 93,176 |
|---|---|---|---|---|
| 93,995 | ||||
| 21,000 72,995 |
||||
| 93,995 |
The financial statements were approved by the Trustees on 8 January 2024
Mr. E. Seliger Trustee
Mr. B Resnick Trustee
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
The British Friends of Zichron Menachem is an unincorporated charity, registered in England and Wales, whose principal address is 30 Brookside Road, London, NW11 9NE.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal and constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment 20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Donations and legacies
| Unrestricted Unrestricted Restricted Total funds funds funds 2023 2022 2022 2022 £ £ £ £ Donations and gifts 128,128 104,873 13,460 118,333 Legacies receivable 12,518 - - - Coronavirus job retention scheme grant - 1,331 - 1,331 140,646 106,204 13,460 119,664 Investments Unrestricted Total funds 2023 2022 £ £ Other investment income 852 - Raising funds Unrestricted Unrestricted funds funds 2023 2022 £ £ Fundraising and publicity Fundraising events 9,919 5,509 Consultancy 9,088 1,566 Advertising 840 176 Support costs 23,862 27,999 Fundraising and publicity 43,709 35,250 |
Unrestricted Unrestricted Restricted Total funds funds funds 2023 2022 2022 2022 £ £ £ £ Donations and gifts 128,128 104,873 13,460 118,333 Legacies receivable 12,518 - - - Coronavirus job retention scheme grant - 1,331 - 1,331 140,646 106,204 13,460 119,664 Investments Unrestricted Total funds 2023 2022 £ £ Other investment income 852 - Raising funds Unrestricted Unrestricted funds funds 2023 2022 £ £ Fundraising and publicity Fundraising events 9,919 5,509 Consultancy 9,088 1,566 Advertising 840 176 Support costs 23,862 27,999 Fundraising and publicity 43,709 35,250 |
Total 2022 £ 118,333 - 1,331 |
|---|---|---|
| 119,664 | ||
| Total 2022 £ - |
||
| Other investment income | ||
| Raising funds Fundraising and publicity |
||
| Fundraising events | ||
| Consultancy | ||
| Advertising Support costs Fundraising and publicity |
||
| 35,250 |
3 Investments
4 Raising funds
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
5 Charitable activities
| 2023 £ - 14,092 14,092 8,205 5,679 27,976 13,884 14,092 27,976 Support costs Governance costs £ £ 18,741 - - 3,954 - 1,376 8,711 - 7,131 - 205 - 34,788 5,330 27,999 - 6,789 5,330 34,788 5,330 |
2022 £ 184,000 - |
||
|---|---|---|---|
| Donations to Zichron Menachem Israel | |||
| Parent camp | |||
| Share of support costs (see note 6) Share of governance costs (see note 6) Analysis by fund Unrestricted funds Restricted funds Support costs Support costs Governance costs £ £ Staff costs 16,744 - Accountancy fees - 4,362 Bank charges and interest - 1,317 Premises costs 9,853 - Office costs 5,306 - Depreciation 164 - 32,067 5,679 Analysed between Fundraising 23,862 - Charitable activities 8,205 5,679 32,067 5,679 |
2023 £ 16,744 4,362 1,317 9,853 5,306 164 37,746 23,862 13,884 37,746 |
||
| 184,000 6,789 5,330 |
|||
| 196,119 | |||
| 170,659 25,460 |
|||
| 196,119 | |||
| 2022 £ 18,741 3,954 1,376 8,711 7,131 205 |
|||
| 40,118 | |||
| 27,999 12,119 |
|||
| 40,118 |
6 Support costs
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration, reimbursement of expenses or benefits from the charity during the year.
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
8 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| 1 | 1 | |
| Employment costs | 2023 | 2022 |
| £ | £ | |
| Wages and salaries | 16,438 | 18,435 |
| Other pension costs | 306 | 306 |
| 16,744 | 18,741 |
There were no employees whose annual remuneration was more than £60,000.
9 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 Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Office equipment | |
| £ | |
| Cost | |
| At 1 April 2022 | 6,665 |
| At 31 March 2023 | 6,665 |
| Depreciation and impairment | |
| At 1 April 2022 | 5,846 |
| Depreciation charged in the year | 164 |
| At 31 March 2023 | 6,010 |
| Carrying amount | |
| At 31 March 2023 | 655 |
| At 31 March 2022 | 819 |
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
11 Debtors
| Amounts falling due within one year: Other debtors Prepayments and accrued income Creditors: amounts falling due within one year Other creditors Accruals and deferred income |
2023 £ 223 16,350 16,573 2023 £ 59 4,260 4,319 |
2022 £ 318 1,206 |
|---|---|---|
| 1,524 | ||
| 2022 £ 1,262 3,954 |
||
| 5,216 |
12 Creditors: amounts falling due within one year
13 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | Movement in funds | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | Income/ | Resources | Balance at | Resources | Transfers | Balance at | ||||
| 1 April 2021 | (Expenditure) | expended | 1 April 2022 | expended | 31 | March 2023 | ||||
| £ | £ | £ | £ | £ | £ | £ | ||||
| Kitchen | ||||||||||
| refurbishment | - | 1,460 | (1,460) | - | - | - | - | |||
| Parent Camp | 21,000 | - | - | 21,000 | (14,092) | (785) | 6,123 | |||
| Dreamobile | 12,000 | 12,000 | (24,000) | - | - | - | - | |||
| - | - | - | ||||||||
| 33,000 | 13,460 | (25,460) | 21,000 | (14,092) | (785) | 6,123 |
The kitchen refurbishment funds relates to amounts contributed by the Hale & District Hebrew Congregation towards the refurbishment of the kitchens at the Zichron Menachem Dream Centre in Jerusalem.
The Parent Camp funds relates to money received from The Bluston Charitable Settlement to be used towards the cost of the next Parents' Respite Trip in the future.
The Dreamobile fund relates to money contributed by a legacy towards the upkeep of the Zichron Menachem mobile clinic in Israel.
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THE BRITISH FRIENDS OF ZICHRON MENACHEM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
14 Unrestricted funds
Movement in funds
| Balance at 1 April 2022 £ General funds 72,995 72,995 15 Analysis of net assets between funds Unrestricted funds Restricted funds 2023 2023 £ £ Fund balances at 31 March 2023 are represented by: Tangible assets 655 - Current assets/(liabilities) 157,030 6,123 157,685 6,123 |
Income Expenditure Transfers Balance at 31 March 2023 £ £ £ £ 141,498 (57,593) 785 157,685 141,498 (57,593) 785 157,685 Total Unrestricted funds Restricted funds Total 2023 2022 2022 2022 £ £ £ £ 655 819 - 819 163,153 72,176 21,000 93,176 163,808 72,995 21,000 93,995 |
Income Expenditure Transfers Balance at 31 March 2023 £ £ £ £ 141,498 (57,593) 785 157,685 141,498 (57,593) 785 157,685 Total Unrestricted funds Restricted funds Total 2023 2022 2022 2022 £ £ £ £ 655 819 - 819 163,153 72,176 21,000 93,176 163,808 72,995 21,000 93,995 |
|---|---|---|
| 157,685 | ||
| Total 2022 £ 819 93,176 |
||
| 93,995 |
16 Related party transactions
During the year, a market value rent of £7,200 (2022: £7,200) was payable to E. Seliger, a trustee, by the charity for office space. Additionally, in relation to the occupation of the premises, amounts totalling £1,981 (2022: £1,511) were payable directly to third party suppliers for utilities.
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