Company Registration Number - 5960896
Charity Registration Number - 1117850
ZOREYA TZEDOKOS LIMITED
Report and Accounts
30 November 2021
B Olsberg & Co Chartered Accountants & Statutory Auditor Enterprise House 3 Middleton Road Manchester M8 5DT
ZOREYA TZEDOKOS LIMITED
Report and accounts for the year ended 30 November 2021
Contents
| Page | ||
|---|---|---|
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 7 | |
| Independent Auditors' Report | 9 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 13 | |
| Statement of Resources | 14 | |
| Movements in funds | 14 | |
| Income and Expenditure Account | 15 | |
| Balance sheet | 16 | |
| Cash flow statement | 17 | |
| Notes to the accounts | 19 |
ZOREYA TZEDOKOS LIMITED
Company Registration Number - 5960896
Trustees' Annual Report for the year ended 30 November 2021
The Trustees present their Report and Accounts for the year ended 30 November 2021, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name.
The legal name of the charity is:- ZOREYA TZEDOKOS LIMITED.
The charity is also known by its operating name, Zoreya Tzedokos.
The charity's areas of operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1117850.
.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The governing document is dated 09 October 2006 There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law, all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
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ZOREYA TZEDOKOS LIMITED
Company Registration Number - 5960896
Trustees' Annual Report for the year ended 30 November 2021
The principal operating address of the charity is:-
52 Symons St Salford, Manchester, M7 4AP
The registered office of the charity for Companies Act purposes is:-
Enterprise House 3 Middleton Rd, Manchester, M8 5DT
The Trustees in office on the date the report was approved were:-
L Tauber Y Wosner S Gluck
The following persons served as Trustees during the year ended 30 November 2021 :-
The trustees who served as a trustee in the reporting period were as shown above. In addition Mr H Weiss resigned on 13th October 2021 and there were no changes in the period between the year end and the approval of the accounts.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The charity is constituted as a company limited by guarantee and is therefore governed by its memorandum and articles of association. The Trustees wish to support all worthy orthodox Jewish causes and the Charity achieves its objects by making grants and distributing mainly to Jewish education and religious organisations both in the UK and abroad. To this end the charity runs a charity voucher scheme.
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ZOREYA TZEDOKOS LIMITED
Company Registration Number - 5960896
Trustees' Annual Report for the year ended 30 November 2021
The main activities undertaken in relation to those purposes during the year.
The Charity operates a charity fund voucher account, whereby it receives donations and Gift Aid. It then distributes its funds according to requests and applications received.
The charity is organised so that the trustees meet regularly to manage its affairs. The charity does not employ any staff or use voluntary assistance. Administration of the charity is dealt with by the trustees.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charitable Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year.
The short term and longer term aims and objectives.
The aim this year and for the forseeable future, is to continue to give support wherever needed and to provide help to even more people in need.
The charity's strategies for achieving its aims and objectives in the future.
These include granting interviews and meetings with potential beneficiaries with a view to furthering their activities.
How the activities undertaken during the year contributed to the achievement of the aims and objectives.
The charity received donations which enabled it to make substantial distributions.
Grant making policies and how these contributed to the achievement of the charity's aims and objectives during the year.
The policy is to assist in the furtherance of Jewish education and religion, relieve poverty, assist those in need of medical help and to alleviate hardship wherever possible. All applications and requests are considered on their own merit.
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ZOREYA TZEDOKOS LIMITED
Company Registration Number - 5960896
Trustees' Annual Report for the year ended 30 November 2021
The main achievements and performance of the charity during the year.
The Statement of Financial Activities shows a total income of £5,321,327, grants made £4,982,415 and Management and Administration expenses of £19,519 resulting in a surplus for the year of £319,393 (2020 - £156,650).
Funds available are sufficient to permit the charity to continue in operation and to carry on the same level of distributions.
The significant charitable activities undertaken in the year,
and the difference the charity's performance during the year
has made to the beneficiaries of the charity and wider society.
Funds have been paid to ever more recipients and accordingly the performance of the charity has benefitted even more beneficiaries.
How the achievements during the year measure up to the objectives set.
This is in line with the wishes of the Trustees who constantly review the effectiveness of the charity and approve the scope of their activities.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
There has been no new recruitments this year, neither is there likely to be for the forseeable future.
The charity's organisational structure.
The structure of the Charity consists of four trustees, who are also directors and secretary of the company. The board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
How the charity makes decisions and how decisions are delegated.
The Trustees of the Charity, are legally responsible for the overall management and control of the Charity and meet regularly.
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ZOREYA TZEDOKOS LIMITED
Company Registration Number - 5960896
Trustees' Annual Report for the year ended 30 November 2021
Setting pay and remuneration of key management personnel
There are no personnel other than the trustees, who receive no remuneration.
The Charity's bankers and advisors
Bankers Royal Bank of Scotland, Manchester Accountants B Olsberg & Co, Enterprise House, 3 Middleton Road, Manchester, M8 5DT
Financial review
The charity's financial position at the end of the year ended 30 November 2021
The financial position of the charity at 30 November 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity |
2021 £ 319,393 496,606 496,606 |
2020 £ 156,650 177,213 177,213 |
|---|---|---|
Financial review of the position at the reporting date, 30 November 2021 .
The trustees consider the financial performance by the charity during the year to have been satisfactory.
Specific changes in fixed assets are detailed in the notes to the accounts.
Policies on reserves.
The trustees intend to maintain a high level of distributions from income but also intend to retain a small reserve for unforeseen contingencies.
Going Concern
The trustees are satisfied that the Charity is a going concern.
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ZOREYA TZEDOKOS LIMITED
Company Registration Number - 5960896
Trustees' Annual Report for the year ended 30 November 2021
Availability and adequacy of assets of each of the funds
The trustees are satisfied that the charity's assets in its fund are available and adequate to fulfil its obligations in respect of the fund.
Significant events which have affected the financial performance and the financial
position.
There are no significant events that have affected the financial performance of the Charity.
The major risks to which the Charity is exposed and reviews and systems to mitigate them.
The trustees do not feel that there are any major risks attached to the charity's activities.
Factors likely to affect future financial performance .
The trustees feel that there are no significant factors that are likely to affect the financial performance of the Charity in the future.
Plans For the Future
Summary of plans for the future and the trustees' perspective of the future direction of the charity.
The trustee's plans are to continue receiving donations and make distributions therefrom.
Details of The Auditor
B Olsberg FCA
Chartered Accountant and Statutory Auditor Enterprise House 3 Middleton Road Manchester M8 5DT
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ZOREYA TZEDOKOS LIMITED
Company Registration Number - 5960896
Trustees' Annual Report for the year ended 30 November 2021
Statement as to disclosure of information to auditors
The trustees state that so far as each of the trustees at the time this report was approved are aware:-
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a) There is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the auditors are unaware, and
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b) The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and establish that the auditors are aware of that information.
Statement of the Directors Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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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;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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ZOREYA TZEDOKOS LIMITED
Company Registration Number - 5960896
Trustees' Annual Report for the year ended 30 November 2021
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the auditor in relation to the Trustees' report is limited to examining the report and ensuring that , the report is consistent with the figures disclosed in the financial statements.
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 13 to 22. The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 28 August 2022.
Y Wosner Director and Trustee
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ZOREYA TZEDOKOS LIMITED
Independent Auditors' Report to the Trustees of the charitable company on the accounts for the year ended 30 November 2021
Introduction
We have audited the financial statements of ZOREYA TZEDOKOS LIMITED for the year ended 30 November 2021, as set out on pages 13 to 22, which comprise the Statement of Financial Activities, the Income and Expenditure Account, the Balance Sheet , the Cash Flow Statement and the related notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements of the charitable company are prepared, in all material respects, in accordance with the Companies Act 2006 and with charity law applicable within the jurisdiction of England & Wales and, in particular, the accounts have been prepared in accordance with FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) under the historical cost convention, and in accordance with the accounting policies set out on page 19, which framework constitutes the applicable United Kingdom Generally Accepted Accounting Practice.
Limitation of liability
This report is made solely to the Trustees of the charitable company, as a body, in accordance with the requirements of Section 154 of the Charities Act 2011 (The Act). Our work has been undertaken so that we might state to the Trustees those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume liability or responsibility to anyone other than the Trustees as a body, for our work, for this report or for the opinions we have formed.
Basis for our opinion
We have been appointed as auditors under section 144(2) of The Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (ISAs-UK), issued by the Financial Reporting Council, and applicable law. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in England & Wales, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management and Those Charged with Governance for the Financial Statements
As described on page 7, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees,who are charged with governance, are responsible for overseeing the charitable company’s financial reporting process.
Management is responsible for the preparation of the financial statements in accordance with charity law of the jurisdiction of England & Wales and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the charitable company or to cease operations, or has no realistic alternative but to do so.
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ZOREYA TZEDOKOS LIMITED
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs-UK will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Our responsibility is to audit and express an opinion on the financial statements in accordance with relevant legal and regulatory requirements and ISAs-UK. Those standards require us to comply with the Ethical Standards for Auditors published by the Financial Reporting Council and to:-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, to design and perform audit procedures responsive to those risks and to obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion;
To obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate for the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charity's internal control;
To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the charity;
To conclude on the appropriateness of the charity's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern;
To evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves a fair presentation.
We are required to report to the Trustees our opinion as to whether the financial statements give a true and fair view and have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Charities (Accounts and Reports) Regulations 2008.
We are also required to report to you if, in our opinion, the Trustees' Annual Report is materially inconsistent with the financial statements, if the charitable company has not kept adequate accounting records, if the charitable company’s financial statements are not in agreement with the accounting records and returns, or if we have not received all the information and explanations we require for our audit, or if information specified by law regarding Trustees' remuneration and transactions with the charitable company is not disclosed.
In addition, we read all the financial and non-financial information in the Trustees' Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
We conducted our audit in accordance with ISAs-UK and in accordance with the Practice Note ' The Audit of Charities in the United Kingdom' , revised in March 2012.
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ZOREYA TZEDOKOS LIMITED
We are required to plan and perform our audit so as to meet the above requirements and to obtain all the information and explanations which we consider necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error.
In the course of our audit, we communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during the audit.
Eligibilty of auditor and status of audit
We confirm that we are eligible under section 144(2) of the Charities Act 2011 to conduct this audit, and that this report is a report in respect of an audit carried out under the Act and in accordance with the related regulations.
We confirm that the charitable company is exempt from audit under Part 16 of the Companies Act 2006,
Attention is drawn to the accounting policy stating that, notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, and in order to accord with current best practice, the Trustees have determined to prepare the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), . We concur with this approach, and any references in our report to the regulations should be read subject to this comment.
Opinion on the Financial Statements
In our opinion, the accompanying charitable company's financial statements:
Give a true and fair view of the state of affairs of the charitable company as at 30 November 2021 and of its Income and Expenditure for the financial year then ended and, in particular, the financial statements have been properly prepared, in all material respects, in accordance with United Kingdom Generally Accepted Accounting Practice applicable to entities of its size and have been properly prepared in accordance with the requirements of the Charities Act 2011; and
have been prepared in accordance with the requirements of Section 396 of the Companies Act 2006; and and have been prepared in accordance with the methods and principles required by the FRS102 Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commission in England & Wales (CCEW) , effective January 2015 (The SORP), and those methods and principles have been followed.
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ZOREYA TZEDOKOS LIMITED
Matters upon which we are required to report by exception
We have nothing to report in respect of the following matters where the requires us to report to you, if in our opinion:
the charitable company has not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and returns; or
if information specified by law regarding Trustees' remuneration and transactions with the charity is not disclosed.
we have not received all the information and explanations we require for our audit.
B Olsberg FCA - Senior Statutory Auditor
For and on behalf of B Olsberg & Co - Registered Auditors
Chartered Accountant and Statutory Auditor
Enterprise House 3 Middleton Road Manchester M8 5DT
This report was signed on 28 August 2022
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ZOREYA TZEDOKOS LIMITED - Statement of Financial Activities for the year ended 30 November 2021
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 30 November 2021, as required by the Companies Act 2006)
| Income & Endowments from: Donations & Legacies Investments Total income Expenditure on: Charitable activities Total expenditure Net income for the year Net income after transfers Reconciliation of funds:- Total funds brought forward Total funds carried forward Net movement in funds |
Current year Unrestricted Funds 2021 £ 5,321,321 6 5,321,327 5,001,934 5,001,934 319,393 319,393 319,393 177,213 496,606 |
Current year Restricted Funds 2021 £ - - - - - - - - - - |
Current year Total Funds 2021 £ 5,321,321 6 5,321,327 5,001,934 5,001,934 319,393 319,393 319,393 177,213 496,606 |
Prior Year Total Funds 2020 £ 2,237,148 46 2,237,194 2,080,544 2,080,544 156,650 156,650 156,650 20,563 177,213 |
|---|---|---|---|---|
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
The notes attached on pages 19 to 22 form an integral part of these accounts.
13
ZOREYA TZEDOKOS LIMITED - Statement of Financial Activities for the year ended 30 November 2021
Resources applied in the year ended 30 November 2021 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Net resources available to fund charitable activities |
2021 £ 319,393 319,393 |
2020 £ 156,650 156,650 |
|---|---|---|
Movements in revenue and capital funds for the year ended 30 November 2021
Revenue accumulated funds
| Unrestricted Funds 2021 £ Accumulated funds brought forward 177,213 319,393 496,606 Closing revenue funds 496,606 Summary of funds Unrestricted and Designated funds 2021 £ Revenue accumulated funds 496,606 Recognised gains and losses before transfers |
Restricted Funds 2021 £ - - - - Restricted Funds 2021 £ - |
Total Funds 2021 £ 177,213 319,393 496,606 496,606 Total Funds 2021 £ 496,606 |
Last year Total Funds 2020 £ 20,563 156,650 177,213 177,213 Last Year Total Funds 2020 £ 177,213 |
|---|---|---|---|
The notes attached on pages 19 to 22 form an integral part of these accounts.
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ZOREYA TZEDOKOS LIMITED - Statement of Financial Activities for the year ended 30 November 2021
Income and Expenditure Account for the year ended 30 November 2021 as required by the Companies Act 2006
| Income Income from operations Interest receivable Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Governance costs Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income |
2021 £ 5,321,321 6 5,321,327 5,321,327 4,996,952 182 4,800 - 5,001,934 319,393 - 319,393 319,393 |
2020 £ 2,237,148 46 2,237,194 2,237,194 2,077,244 - 3,300 - 2,080,544 156,650 - 156,650 156,650 |
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 19 to 22 form an integral part of these accounts.
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ZOREYA TZEDOKOS LIMITED - Balance Sheet as at 30 November 2021
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets | |||||
| Tangible assets | 7 | 728 | 910 | ||
| Current assets | |||||
| Debtors | 9 | 33,630 | 21,604 | ||
| Cash at bank and in hand | 467,048 | 157,999 | |||
| Total current assets | 500,678 | 179,603 | |||
| Creditors: amounts falling due within | |||||
| one year | 10 | (4,800) | (3,300) | ||
| Net current assets | 495,878 | 176,303 | |||
| The total net assets of the charity | 496,606 | 177,213 | |||
| The total net assets of the charity are | funded by the funds of the | charity, as follows:- | |||
| Restricted funds | |||||
| Unrestricted Funds | - | - | |||
| Unrestricted Revenue Funds | 14 | 496,606 | 177,213 | ||
| Designated Funds | 496,606 | 177,213 | |||
| Total charity funds | 496,606 | 177,213 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to audit under charity legislation, and the report of the Charities Act auditor is on page 12.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Y Wosner
Trustee Approved by the board of trustees on 28 August 2022
The notes attached on pages 19 to 22 form an integral part of these accounts.
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ZOREYA TZEDOKOS LIMITED
Cash Flow Statement for the year ended 30 November 2021
| Cash flows from operating activities Cash flows from investing activities Interest received Cash flows from financing activities Net cash provided by operating activities as shown below |
2021 £ 309,043 6 |
2020 £ 156,604 46 |
|---|---|---|
| Net cash provided by financing activities Overall cash provided by all activities Cash movements Change in cash and cash equivalents from activities in the year ended 30 November 2021 Cash and cash equivalents at 1 December 2020 Change in cash and cash equivalents due to exchange rate movements Cash at bank and in hand less overdrafts at 30 November |
- 309,049 309,049 157,999 - 467,048 |
- 156,650 156,650 - - 156,650 |
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ZOREYA TZEDOKOS LIMITED
Cash Flow Statement for the year ended 30 November 2021 ZOREYA TZEDOKOS LIMITED
Cash Flow Statement for the year ended 30 November 2021 - Continued
Reconciliation of net income to net cash flow from operating activities
| Net income as shown in the Statement of Financial Activities Adjustments for :- Depreciation charges Write downs of investments Net unrealised losses on investment assets Dividends, interest and rents from investments Decrease in debtors Increase in creditors, excluding loans Net cash provided by operating activities Analysis of cash and cash equivalents Cash in hand at for the year ended 30 November 2021 Total cash and cash equivalents At start of year Cash 157,999 Total 157,999 Analysis of change in net debt |
319,393 182 - - (6) (12,026) 1,500 309,043 2021 £ 467,048 467,048 Cash Flows and 309,049 309,049 |
156,650 - - - (46) - - 156,604 2020 £ 157,999 157,999 At end of year 467,048 467,048 |
|---|---|---|
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ZOREYA TZEDOKOS LIMITED
Notes to the Accounts for the year ended 30 November 2021
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations . As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 30th November 2022, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Plant and machinery
20 % straight line
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
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ZOREYA TZEDOKOS LIMITED
Notes to the Accounts for the year ended 30 November 2021
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Significance of financial instruments to the charity's position
There are no significant implications of such matters.
5 Net surplus before tax in the financial year
| Net surplus before tax in the financial year | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| The net surplus before tax in the financial year is stated after charging:- | ||
| Depreciation of owned fixed assets | 182 | - |
| Auditors' remuneration | 4,800 | 3,300 |
- 6 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
7 Tangible fixed assets
| Current Year Cost At 1 December 2020 At 30 November 2021 Depreciation At 1 December 2020 Charge for the year At 30 November 2021 Net book value At 30 November 2021 At 30 November 2020 |
Land and Buildings £ - - - - - - - |
Plant & Machinery £ 1,470 1,470 560 182 742 728 910 |
Motor Vehicles £ - - - - - - - |
Total £ 1,470 1,470 560 182 742 728 910 |
|---|---|---|---|---|
8 Investment pooling schemes and arrangements
There are no Investment pooling schemes and arrangements
20
ZOREYA TZEDOKOS LIMITED
Notes to the Accounts for the year ended 30 November 2021
| 9 Debtors Other debtors 10 Creditors: amounts falling due within one year Accruals 11 Income and Expenditure account summary At 1 December 2020 Surplus for the year At 30 November 2021 |
2021 £ 33,630 2021 £ 4,800 2021 £ 177,213 319,393 496,606 |
2020 £ 21,604 2020 £ 3,300 2020 £ 20,563 156,650 177,213 |
|---|---|---|
12 No related party transactions
There were no transactions with related parties in the year.
13 Particulars of how particular funds are represented by assets and liabilities
| At 30 November 2021 Tangible Fixed Assets Current Assets Current Liabilities At 1 December 2020 Tangible Fixed Assets Current Assets Current Liabilities |
Unrestricted funds £ 728 500,678 (4,800) 496,606 Unrestricted funds £ 910 179,603 (3,300) 177,213 |
Designated funds £ - - - Designated funds £ - - - - |
Restricted funds £ - - - - Restricted funds £ - - - - |
Total Funds £ 728 500,678 (4,800) 496,606 Total Funds £ 910 179,603 (3,300) 177,213 |
|---|---|---|---|---|
21
ZOREYA TZEDOKOS LIMITED
Notes to the Accounts for the year ended 30 November 2021
14 Change in total funds over the year as shown in Note 13 , analysed by individual funds
| Funds brought forward from 2020 £ Unrestricted and designated funds:- Unrestricted Revenue Funds 177,213 Total unrestricted and designated funds 177,213 Total charity funds 177,213 Analysis of movements in funds over the year as shown in Note Income 2021 £ Unrestricted and designated funds:- Unrestricted Revenue Funds 5,321,327 5,321,327 |
Movement in funds in 2021 See Note 15 £ 319,393 319,393 319,393 14 Expenditure 2021 £ (5,001,934) (5,001,934) |
£ - - - Other Gains & Losses 2021 £ - - Transfers between funds in 2021 |
Funds carried forward to 2022 £ 496,606 496,606 496,606 Movement in funds 2021 £ 319,393 319,393 |
|---|---|---|---|
15 Analysis of movements in funds over the year as shown in Note 14
16 The purposes for which the funds as
Unrestricted and designated funds:-
Unrestricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
Restricted funds:-
Restricted Fixed Asset Funds
There are no restricted funds
17 Ultimate controlling party
The charity is under the control of its legal members.
22
ZOREYA TZEDOKOS LIMITED
Detailed analysis of income and expenditure for the year ended 30 November 2021 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
18 Donations, Grants and Legacies
| Total Donations, Grants and Legacies 19 Investment income Bank Interest Receivable Total investment income Total private sector revenue grants Revenue grants and donations from non public bodies Sundry Donations |
Current year Unrestricted Funds 2021 £ 5,321,321 5,321,321 5,321,321 Current year Unrestricted Funds 2021 £ 6 6 |
Current year Restricted Funds 2021 £ - - - Current year Restricted Funds 2021 £ - - |
Current year Total Funds 2021 £ 5,321,321 5,321,321 5,321,321 Current year Total Funds 2021 £ 6 6 |
Prior Year Total Funds 2020 £ 2,237,148 2,237,148 2,237,148 Prior Year Total Funds 2020 £ 46 46 |
|---|---|---|---|---|
23
ZOREYA TZEDOKOS LIMITED
Detailed analysis of income and expenditure for the year ended 30 November 2021 as required by the SORP 2015
20 Expenditure on charitable activities- Grant funding of activities
| Current Year Total grantmaking costs Current Year Sundry Distributions Grants made to individuals Grants made to organisations Breakdown of Grants made to organisations |
Current year Unrestricted Funds 2021 £ 24,728 4,957,687 4,982,415 Current year Unrestricted Funds 2021 £ 4,957,687 4,957,687 |
Current year Restricted Funds 2021 £ - - - Current year Restricted Funds 2021 £ - - |
Current year Prior Year Total Funds Total Funds 2021 2020 £ £ 24,728 34,285 4,957,687 2,016,945 4,982,415 2,051,230 Current year Total Funds 2021 £ 4,957,687 4,957,687 |
|---|---|---|---|
All donations were made in furtherance of the objectives of the charity. A full list is available on request in writing from the trustees
21 Support costs for charitable activities
| Current year Current year Current Year Unrestricted Funds Restricted Funds 2021 2021 £ £ Administrative overheads 58 - 10,654 - 1,264 - 126 - 517 - Professional fees paid to advisors other than the auditor or examiner 247 - Financial costs 1,671 - 182 - Support costs before reallocation 14,719 - Total support costs - Current Year 14,719 - The basis of allocation of costs between activities is described under accounting policies All the expenditure in the prior year was unrestricted. Stationery and printing Equipment,repairs,expenses and maintenance Software licences and expenses Bank charges Telephone, fax and internet Depreciation & Amortisation in total for Other legal and professional Sundry expenses |
Current year Total Funds 2021 £ 58 10,654 1,264 126 517 247 1,671 182 14,719 14,719 |
Prior Year Total Funds 2020 £ 200 25,300 - - - - 514 - 26,014 26,014 - - - |
|---|---|---|
24
ZOREYA TZEDOKOS LIMITED
Detailed analysis of income and expenditure for the year ended 30 November 2021 as required by the SORP 2015
Administrative overheads
The basis of allocation of costs between activities is described under accounting policies
22 Other Expenditure - Governance costs
| Current Year Auditor's fees Total Governance costs |
Current year Unrestricted Funds 2021 £ 4,800 4,800 |
Current year Restricted Funds 2021 £ - - |
Current year Total Funds 2021 £ 4,800 4,800 |
Prior Year Total Funds 2020 £ 3,300 3,300 |
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
23 Total Charitable expenditure
| Current Year Total grantmaking costs Total support costs Total Governance costs Total charitable expenditure |
Current year Unrestricted Funds 2021 £ 4,982,415 14,719 4,800 5,001,934 |
Current year Restricted Funds 2021 £ - - - - |
Current year Total Funds 2021 £ 4,982,415 14,719 4,800 5,001,934 |
Prior Year Total Funds 2020 £ 2,051,230 26,014 3,300 2,080,544 |
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
| Prior Year Total grantmaking costs Total support costs Total Governance costs Total charitable expenditure |
Prior Year Unrestricted Funds 2020 £ 2,051,230 26,014 3,300 2,080,544 |
Prior Year Prior Year Restricted Funds Total Funds 2020 2020 £ £ - 2,051,230 - 26,014 - 3,300 - 2,080,544 |
|---|---|---|
25
ZOREYA TZEDOKOS LIMITED
Activity analysis of Income and expenditure for the for the year ended 30 November 2021
This analysis is classsified by activity and not by conventional nominal descriptions.
| 24 Analysis of income by activity Summary of Total Income, including the items above Donations & Legacies Investment income Total income as shown in the SOFA 25 Analysis of charitable expenditure by activity Direct costs Support costs 2021 2021 £ £ Charitable Distributions Administrative overheads - 12,619 Professional fees - 247 Financial costs - 1,853 Grantmaking costs - - - 14,719 Direct costs Support costs 2021 2021 £ £ Total Charitable Distributions - 14,719 - 4,800 - 19,519 Activity Total Governance costs Total Charitable Distributions Activity Total charitable expenditure Summary of charitable costs by activity |
Grant funding of activities 2021 £ - - - 4,982,415 4,982,415 Grant funding of activities 2021 £ 4,982,415 - 4,982,415 |
2021 £ 5,321,321 6 5,321,327 Total 2021 £ 12,619 247 1,853 4,982,415 4,997,134 Total 2021 £ 4,997,134 4,800 5,001,934 |
2020 £ 2,237,148 46 2,237,194 Total 2020 £ 25,500 - 514 2,051,230 2,077,244 Total 2020 £ 2,077,244 3,300 2,080,544 |
|---|---|---|---|
The basis of allocation of costs between activities is described under accounting policies
The breakdown of this expenditure by type of spending (ie nominal classification) is detailed in note 23
26
ZOREYA TZEDOKOS LIMITED
Activity analysis of Income and expenditure for the for the year ended 30 November 2021 Analysis of support and governance costs by charitable activities
| Activity Charitable Distributions Summary of grant making by activity Charitable Distributions |
Governance 4,800 Grants to institutions 2021 £ 4,957,687 4,957,687 |
Finance 1,853 Grants to individuals 2021 £ 24,728 24,728 |
Human Resources - Support costs 2021 £ - - |
Other Overheads 12,866 Total 2021 £ 4,982,415 4,982,415 |
Total 19,519 Total 2020 £ 2,051,230 2,051,230 |
|---|---|---|---|---|---|
Fuller details of grants made and related costs, including support costs, are shown in note 20.
26 Analysis of non charitable expenditure by activity
| Governance costs Other Expenditure - Governance costs as detailed in Note 22 |
Governance costs 2021 £ 4,800 |
Governance costs 2020 £ 3,300 |
|---|---|---|
27