Charity registration number 1102612 THE BRITISH FRIENDS OF ZICHRON MENACHEM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE BRITISH FRIENDS OF ZICHRON MENACHEM LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr. E. Seliger Mr. B Resnick Mr. R Green Mr. W Salkinder (Appoinled 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 OFX Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ Solicitors RaddrffesLeBrasseur 5 Great College Street Weslminster London SW1 P 3SJ
THE BRITISH FRIENDS OF ZICHRON MENACHEM CONTENTS Page Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 6-13
THE BRITISH FRIENDS OF ZICHRON MENACHEM TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The tnjstees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial slatemenls and comply wilh Ihe charity's goveming documenl, the Charilies Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chartties preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" (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 lrfe of children wrth 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 similaty organises or contribules to annual "respite holidays" for Ihe parenls of children suffering from Canr. A secondary objeclive is to provide inlemittent 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 li the first support organisalion that families tum lo for support and advice after a child is diagnosed Vth cancer. The charity raises funds to support its charilable 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 cul and used lo make wigs for the cancer patients in Israel and the UK. The Trustees confimi that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewng the charity's aims and objectives and in planning its actNlties for the year and, as can be seen from this Report, the charity's aims are for the public benefit. Achievements and perforniance Once again, we were pleased to host four flagship hair parties in London and Manchester with approximately 100 participants., cheered on by family and friends The hair collected is used for cuslonFmade wigs for sick children both in Israel and localty and many hair donors raise funds to help defray the costs of making the wigs and other projects to enhance the lives of the sick children and their families. This year we have spent time, resources and minimal funds to develop our new multFlingual websile and marketing materials. Our Chaimian has assisted in the establishment of Zichron Menachem Intemational. Afier many years of assistance behind the scenes. we were pleased to appoint Mr Wayne Salkinder to the board of trustees. 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 charity had income of £156.905 (2023: £141.498) Current account bank balan £17,222 (2023.. £19.304) Saving5 account bank balan £213.455 {2023: £129.290) The policy on reserves is to build up fvnds. in particular to meet camp expenses and specific requests from Zichron Menachem in Israel. At the year end. the Charity had free resepies of £213.333 {2023: £157.030>.
THE BRITISH FRIENDS OF ZICHRON MENACHEM TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees have assessed the major risks to which the charity is exposed. and are satisfied that systems are in place to mitigate exposure lo 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 closety with Zichron Menachem in Israel lo ensure Ihal the UK aclivities and contribution are focused and relevant. The trustees who seNed during the year and up to the date of signature of the financial statemenls were.. Mr. E. Seliger Mr. B Resnick Mr. R Green Mr. W Salkinder (Appointed 9 Juty 2023) The Iruslees have complementary skills that help run the charity effectivety. 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 aCntant by profession and oversees governance and finance- Mr Green founded the emergency response and ambulance service Hatzola and he brings an underslanding of health and wellness to the chartty. The power of appointing trustees is vested in the existing trustees. New trustees are recruiled from personal contacts of existing trustees. Induction will be carried out by discussion with exisling trustees and training will depend on their previous knowledge and experien. The trustees determine the general policy of the chartty. 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 12 January 2025
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 {Ihe charity) forlhe year ended 31 March 2024. 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 requiremenls of the Charilies Act 2011 (the 2011 Acl). I report in respect of my examination of Ihe charity's financial stalements carried out under section 145 of the 2011 Act. In carrying oul my examination I have followed all the applicable Directions given by the Charity Commission under section 145{51(b) of the 2011 Act. Independent examinerfs statement I have completed my examinalion. I confimi Ihat no matters have come to my attention in connection with Ihe examination giving me cause to believe that in any material respect- accounting records were not kepl in respect of the charity as required by section 130 of the 2011 Act., or the financial statements do not accord with those records.. or the financial statements do not comply with the applicable requirements conceming the form and content of accounls set oul in the Charilies (Accounls 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 Ihe examinalion lo 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 OFX Dated.. 16 January 2025
THE BRITISH FRIENDS OF ZICHRON MENACHEM STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donalions and legacies Other trading activities Inveslments 105,652 25,037 4,216 22,IX)O 127,652 25,037 4,216 140,646 140.646 852 852 Total income 134,905 22,IX)O 156,905 141,498 141.498 Expendilure on- Raising funds Charilable activities 61,607 17.125 61,607 31,125 43,709 13,884 43,709 27,976 14,(M)O 14,092 Tolal expenditure 78,732 14,(K)O 92,732 57,593 14,092 71,685 Net income 56,173 8,(KlO 64,173 83,905 114,092) 69,813 Transfers belween funds 785 {785) Net movement in funds 56,173 8,000 64,173 84,690 114,877) 69,813 Reconciliation of funds: Fund balances at 1 April 2023 157,685 6,123 163,808 72,995 21,000 93,995 Fund balances at 31 March 2024 213,858 14,123 227,981 157,685 6,123 163,808 The statement of financial activiiies includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE BRITISH FRIENDS OF ZICHRON MENACHEM BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 11 525 655 Current assets Deblors Cash at bank and in hand 12 214 231.717 16,573 150.899 231.931 167.472 Creditors: amounts falling due within one year 13 {4.475) 14.319) Net current assels 227.456 163,153 Total assets less current liabilities 227,981 163,808 Incorne funds Restricted funds Unrestricted funds General funds 14 14.123 6,123 15 213.858 157,685 213,858 157,685 227,981 163,808 The financial statements were approved by the Trustees on 12 January 2025 Mr. E. Seliger Trustee
THE BRITISH FRIENDS OF ZICHRON MENACHEM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infomiation The British Friends of Zichron Menachem is an unincorporated charlty. 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 accordan with the charity's governing document the Charilies Acl 2011 and 'Accounling and Reporting by Charilies.. Stalemenl of Recommended Practice applicable to chariiies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (as amended for accounting periods commencing from 1 January 20191. The charity is a Public Benefft Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities apptying FRS 102 UpdaÈ Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 onty to the exlenl required lo provide a true and fair view. This departure has involved following Ihe Slatemenl of Recommended Practice for charities appWing FRS 102 rather than the version of the Statement of Recommended Practice which is refeed to in the Regulations but which has Sin been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity- Monetary amounts in these financial stslements a rounded to the nearest £. The financial stalements 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 adequale resources lo conlinue in operational existence for the foreseeable future. Thus the truslees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charilable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specffic conditions by donors or grantors 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 legalty entitled to it after any perfomiance conditions have been met, the amounts can be measured reliabty. 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 perfomiance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the tirne of the donation. 1.5 Expenditure Expenditure is recognised On there is a legal and constructive obligakn'on 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.
THE BRITISH FRIENDS OF ZICHRON MENACHEM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initialty measured at cost and subsequentty measured at cost or valuation, net of depreaation and any impainnent losses. Depreciation is recognised so as to vrrite off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Office equipment 20Yo reducing balan The gain or loss arising on the disposal of an asset is detemiined as the difference belween the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impaimient of fixed assets Al each reporting end dale, the charity vIewS the carrying amounts of its langible assels lo detem)ine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemine the extent of the impaimenl loss (rf 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 currenl liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Inslrumenls Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's balan sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wilh the nel amounts presented in Ihe financial stalements, 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 assel and settle the liability simultaneously. Basic financial assets Basic financial assets. which indude debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequentty Caled at amortised cost using the effective inlerest method unless the arrangement conslitules a financing transaction, where Ihe 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 fulure 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.
THE BRITISH FRIENDS OF ZICHRON MENACHEM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.10 Employee benefits The cost of any unused holiday entrfement is recognised in the period in which the employee's services are received. Termination benefils are recognised immediately as an expense when Ihe charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefit5. 1.11 Retirement benefits Payments to defined contribution retirement benefft schemes are charged as an expense as they fall due. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Legacies receivable 105,652 22,000 127,652 128,128 12,518 128,128 12,518 105,652 22,C0 127,652 140,646 140,646 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Fundraising event - raffle 25,037 Investments Unrestricted Unrestricted funds funds 2024 2023 Other investment income 4,216 852
THE BRITISH FRIENDS OF ZICHRON MENACHEM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Raising funds Unrestricted Unrestricted funds fiJnds 2024 2023 in Fundraising events - other Fundraising evenls - raffle Consuttancy Advertising Support costs 5,070 17,138 7,950 2,194 29,255 9,919 9,088 840 23,862 Fundraising and publicity 61,607 43,709 6 Charitable activities Unrestricted Restricted funds funds 2024 2024 Total 2024 2023 Donations to Zichron Menachem Israel for parent camp Parent camp - direct costs 14,000 14,000 14,092 14.000 14,000 14,092 Share of support costs (see note 7} Share of govemance costs (see nole 7) 12,553 4,572 12,553 4,572 9,522 4.362 17,125 14.000 31,125 27,976 Analysis by fund Unrestricted funds Restricled funds 17,125 17,125 14,000 13,884 14,092 14.000 17,125 14,000 31,125 27,976
THE BRITISH FRIENDS OF ZICHRON MENACHEM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities Fundraising Charitable activities 2024 Total Total 2024 2024 2023 staff costs Premises costs Office costs Travel Sundry Depreciation Governance 12.329 8.032 6,474 2.289 4,415 2,677 2,159 764 2,538 16,744 10.709 8,633 3.053 2,538 131 4,572 16,744 9,853 5,306 1,317 164 4,362 131 4,572 29.255 17,125 46,380 37,746 2024 2023 Governance costs comprise: Independent examination 4.572 4,362 4.572 4,362 Support cost are allocated beeen fvndraising and charitable activities based on the usage of a resource or activity in terms of time taken, capacity used. requests made or other measure. Trustees During the year, one of the trustees was reimbursed a total of £2,83312023.' £nil) for travel expenses incurred for the objectives of the charity- No other trustees received reirnbursement for expenses in the year. None of the Iruslees lor any persons connected with them) received any remuneration of benefits during the year. Employees The average monthly number of employees during the yearwas.. 2024 Nurnber 2023 Number 10-
THE BRITISH FRIENDS OF ZICHRON MENACHEM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees (Continued) Employment costs 2024 2023 Wages and salaries other pension costs 16,438 306 16,438 306 16,744 16,744 There were no employees whose annual remuneration was more than £60,000. 10 Taxation The charity is exempt from tsxation on its activtlies because all its income is applied for charitable purposes. 11 Tangible fixed assets equlpment Cost Al 1 April 2023 6,665 At 31 March 2024 6,665 Depreciation and impairnient At 1 April 2023 Deprecialion charged in the year 6,009 131 At 31 March 2024 6,140 Carrying amount At 31 March 2024 525 At 31 March 2023 655 12 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 214 223 16,350 214 16,573 11
THE BRITISH FRIENDS OF ZICHRON MENACHEM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Creditors: amounts falling due within one year 2024 2023 Other creditors Accruals and deferred income 59 4.416 59 4.260 4,475 4,319 14 Restricted funds The restricted funds of the charity comprise the unexpended balanS of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds Balance at Incomel Resources Balance at 1 April 2023 (Expenditure) expended 31 March 2024 Balance at 1 April 2022 Resources expended Transfe Parent Camp 21,000 114.0921 17851 6,123 22,000 114,0001 14,123 The Parent Camp funds relates to money reiVed frorn The Bluston Charitable Settlement to be used towards the cost of the next Parents, Respite Trip in the future. 15 Unrestricted funds Movement in funds Income Expendrture Balance at 1 April 2023 Balance at 31 March 2024 General funds 157.685 134.905 178.7321 213,858 157.685 134.905 178.7321 213,858 16 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Currenl assetsllliabililies) 525 213,333 525 227,456 14.123 213,858 14.123 227,981 12-
THE BRITISH FRIENDS OF ZICHRON MENACHEM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Analysis of net assets between funds (Continued) Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Currenl assetsllliabililies} 655 157,030 655 163,153 6.123 157,685 6.123 163,808 17 Related party transactions During the year, a market value rent of £8,000 {2023= £7,200) was payable to E. Seliger, a Iruslee, by the charity for office space. Additionally. in relation to the occupation of the premises. amounts totalling £2,709 12023.. £1,981) were payable directly to third paty suppliers for utilities. 13-