REGISTERED CHARITY NUMBER: 1110323
KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 to | 3 |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Cash Flow Statement | 7 | |
| Notes to the Cash Flow Statement | 8 | |
| Notes to the Financial Statements | 9 to | 12 |
KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MAY 2022
TRUSTEES Mr I Kahan Mr S Weiss Mr A Pifko PRINCIPAL ADDRESS 171 Kyverdale Road London N16 6PS REGISTERED CHARITY 1110323 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS LLoyds Bank plc 174 Clapton Common London E5 9AQ
Page 1
KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objective for public benefit
The objects of the charity are:-
(i) the relief of poor, sick, feeble and frail throughout the world and in particular but not exclusively amongst members of the Jewish faith,
(ii) the advancement of the Orthodox Jewish faith,
(iii) the advancement of Orthodox Jewish religious education.
The trustees have considered the Charity Commission's general guidance on public benefit. The objects are achieved by making either grants or interest free loans, in accordance with the tenets of the Orthodox Jewish Faith.
Grantmaking
In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available.Applications by individuals must be accompanied by a letter of recommendation by the applicant's minister or other known religious leader.
FINANCIAL REVIEW
Review of activities
The trustees are extremely pleased with the results for the year.There was an almost threefold increase in income and the trustees increased grantmaking accordingly.
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £26,410 (2021 - £40,786).
FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted by Deed of Trust dated 18 May 2005.
Organisational structure
The power to appoint new trustees is vested in the continuing board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 30 March 2023 and signed on its behalf by:
Mr S Weiss - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
Independent examiner's report to the trustees of Kupath Gemach Chaim Bechesed Viznitz Trust
I report to the charity trustees on my examination of the accounts of Kupath Gemach Chaim Bechesed Viznitz Trust (the Trust) for the year ended 31 May 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material 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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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts 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 accounts to be reached.
E Meyer FCA BSc Institute of Chartered Accountants in England and Wales Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
30 March 2023
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 931,222 EXPENDITURE ON Raising funds - Charitable activities 2 Grantmaking 943,505 Support 2,093 Total 945,598 NET INCOME/(EXPENDITURE) (14,376) RECONCILIATION OF FUNDS Total funds brought forward 40,786 TOTAL FUNDS CARRIED FORWARD 26,410 |
2021 Total funds £ 317,677 |
|---|---|
| 500 275,472 2,153 |
|
| 278,125 | |
| 39,552 1,234 |
|
| 40,786 |
The notes form part of these financial statements
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
BALANCE SHEET 31 MAY 2022
| Notes CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 21,850 6,240 28,090 (1,680) 26,410 26,410 26,410 26,410 26,410 |
2021 Total funds £ 29,850 12,496 42,346 (1,560) 40,786 40,786 40,786 40,786 40,786 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 March 2023 and were signed on its behalf by:
Mr S Weiss - Trustee
The notes form part of these financial statements
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MAY 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2022 £ (6,256) (6,256) (6,256) 12,496 6,240 |
2021 £ 5,552 |
|---|---|---|
| 5,552 | ||
| 5,552 6,944 |
||
| 12,496 |
The notes form part of these financial statements
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MAY 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||
|---|---|---|
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Decrease in debtors Increase/(decrease) in creditors Net cash (used in)/provided by operations |
2022 £ (14,376) 8,000 120 (6,256) |
2021 £ 39,552 6,000 (40,000) |
| 5,552 |
- ANALYSIS OF CHANGES IN NET FUNDS
| At 1.6.21 | Cash flow | At 31.5.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 12,496 | (6,256) | 6,240 |
| 12,496 | (6,256) | 6,240 | |
| Total | 12,496 | (6,256) | 6,240 |
The notes form part of these financial statements
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
Income received by way of donations is accounted for when received.
Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from tax on its charitable activities.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. CHARITABLE ACTIVITIES COSTS
| Grantmaking Support |
Grant funding of activities (see note 3) £ 943,505 - 943,505 |
Support costs (see note 4) £ - 2,093 2,093 |
Totals £ 943,505 2,093 |
|---|---|---|---|
| 945,598 |
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022
3. GRANTS PAYABLE
| Grantmaking The total grants paid to institutions during the year was as follows: Relief of poverty Advancement of religion Advancement of education Medical Social welfare |
2022 £ 943,505 2022 £ 15,446 158,457 143,197 16,727 7,500 341,327 33,600 22,000 21,145 20,000 20,000 18,000 17,500 15,090 15,000 15,000 143,992 341,327 2022 £ 262,960 339,218 602,178 |
2021 £ 275,472 |
|---|---|---|
| 2021 £ 38,200 21,294 47,161 5,000 - |
||
| 111,655 | ||
| 2021 £ 163,817 - |
||
| Kolel Ahavas Torah | ||
| Mechon Yodei Binoh | ||
| Wiznitz Antwerp | ||
| Bedside Kosher | ||
| Kolel Viznitz | ||
| Chomos Yehosa | ||
| Tiv Yerusalem | ||
| BHW Ltd | ||
| Colel Ahavat Israel | ||
| Wiznitz Institutions | ||
| Others under £10,000 | ||
| The total grants paid to individuals during the year was as follows: Relief of poverty Advancement of education |
||
| 163,817 |
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022
4. SUPPORT COSTS
| Support Support costs, included in the above, are as follows: Other Sundries Governance costs Independent examiner's fee Independent examiner's other fees General expenses |
Governance Other costs Totals £ £ £ 59 2,034 2,093 2022 2021 Total Support activities £ £ 59 71 2022 2021 Total Support activities £ £ 600 540 1,080 1,020 354 522 2,034 2,082 |
|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021.
6. DEBTORS
| Amounts falling due within one year: Other debtors Amounts falling due after more than one year: Loan Aggregate amounts |
2022 £ 9,850 12,000 21,850 |
2021 £ 17,850 |
|---|---|---|
| 12,000 | ||
| 29,850 |
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KUPATH GEMACH CHAIM BECHESED VIZNITZ TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Other creditors | 1,680 | 1,560 |
8. RELATED PARTY DISCLOSURES
Donations totalling £16,390 were made to charities in which the trustees have an interest.
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