REGISTERED COMPANY NUMBER: 06354517 (England and Wales) REGISTERED CHARITY NUMBER: 1120921
KEHAL CHASIDEI WIZNITZ LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
KEHAL CHASIDEI WIZNITZ LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| 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 | |
| Notes to the Financial Statements | 7 to | 11 |
KEHAL CHASIDEI WIZNITZ LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2023
TRUSTEES M H Kahan J Arberman REGISTERED OFFICE First Floor 94 Stamford Hill London N16 6XS REGISTERED COMPANY 06354517 (England and Wales) NUMBER REGISTERED CHARITY 1120921 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS BANKERS HSBC Bank plc 312 Seven Sisters Road Finsbury Park London N4 2AW
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KEHAL CHASIDEI WIZNITZ LIMITED (REGISTERED NUMBER: 06354517)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
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
Objects for public benefit
The objects of the charity are, the advancement of the Orthodox Jewish Faith, the advancement of Orthodox Jewish Religious Education and the relief of poverty, sickness and infirmity amongst members the Jewish Faith in any part of the world.
The trustees have considered the Charity Commission's guidance on public benefit.
Charitable activities
The charity operates a voucher system, allowing donors control of their giving in an easy manageable, tax efficient manner. Incoming resources on the unrestricted fund comprise, in the main, fee income from donors to the voucher system, and on the restricted fund income from donations into individual and company accounts.
Grantmaking
Grants on the unrestricted fund are made at the trustees' discretion from their knowledge of the various institutions. On the restricted fund grants are made in accordance with the wishes of the donor provide they accord with the objects of the charity.
FINANCIAL REVIEW
Financial review
There was an increase of about a third in both income and grantmaking and the trustees are pleased to report a surplus for the year.
Reserves policy
The charity does not have a specific reserve policy. Grants are made whenever an appropriate need for funds arise on the unrestricted fund and at the donors' discretion from the restricted funds. At the year end unrestricted funds were £1,291(2022 - £4,204) and restricted funds £1,492 (2022 - £Nil).
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
Constitution
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 28 August 2008.
Recruitment and appointment of new trustees
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 that the charity is exposed and confirm that they have established systems to mitigate them..
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KEHAL CHASIDEI WIZNITZ LIMITED (REGISTERED NUMBER: 06354517)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 May 2024 and signed on its behalf by:
M H Kahan - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KEHAL CHASIDEI WIZNITZ LIMITED
Independent examiner's report to the trustees of Kehal Chasidei Wiznitz Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 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 member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 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 accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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
Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS
25 September 2024
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KEHAL CHASIDEI WIZNITZ LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies - Other trading activities 2 23,819 Total 23,819 EXPENDITURE ON Charitable activities 3 Grantmaking 24,591 Support 2,141 Total 26,732 NET INCOME/(EXPENDITURE) (2,913) RECONCILIATION OF FUNDS Total funds brought forward 4,204 TOTAL FUNDS CARRIED FORWARD 1,291 |
Restricted fund £ 452,569 - 452,569 451,077 - 451,077 1,492 - 1,492 |
2023 Total funds £ 452,569 23,819 476,388 475,668 2,141 477,809 (1,421) 4,204 2,783 |
2022 Total funds £ 341,665 17,983 359,648 360,384 1,905 362,289 (2,641) 6,845 4,204 |
|---|---|---|---|
The notes form part of these financial statements
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KEHAL CHASIDEI WIZNITZ LIMITED (REGISTERED NUMBER: 06354517)
BALANCE SHEET 31 AUGUST 2023
| Notes CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS/(LIABILITIES) FUNDS 11 Unrestricted funds: General fund Restricted funds: Restricted fund TOTAL FUNDS |
2023 £ 3,000 1,823 4,823 (2,040) 2,783 2,783 2,783 1,291 1,492 2,783 |
2022 £ 6,000 4 6,004 (1,800) 4,204 4,204 4,204 4,204 - 4,204 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 May 2024 and were signed on its behalf by:
M H Kahan - Trustee
The notes form part of these financial statements
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KEHAL CHASIDEI WIZNITZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
Donations are included in full in the Statement of Financial Activities 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 corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Going concern
There are no material uncertainties about the charity's ability to continue.
2. OTHER TRADING ACTIVITIES
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| Fee income | 23,819 | - | 23,819 | 17,983 |
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KEHAL CHASIDEI WIZNITZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
3. CHARITABLE ACTIVITIES COSTS
| 3. CHARITABLE ACTIVITIES COSTS |
||
|---|---|---|
| Grant funding of activities (see note 4) £ Grantmaking 475,668 Support - 475,668 4. GRANTS PAYABLE Grantmaking The total grants paid to institutions during the year was as follows: Advancement of education Advancement of religion Relief of poverty Medical General purposes Social welfare Aiming High London Chasdei Aharon Ltd Kollel Viznitz London Kollel Pshevorsk Yesamach Levav Trust Chevras Mo'oz Ladol Kollel Belz Others under £11,000 The total grants paid to individuals during the year was as follows: Relief of poverty |
Support costs (see note 5) £ - 2,141 2,141 2023 £ 475,668 2023 £ 103,885 47,367 247,290 14,770 - 59,356 472,668 30,500 24,085 22,000 12,480 11,820 11,669 11,032 349,082 472,668 2023 £ 3,000 |
Totals £ 475,668 2,141 |
| 477,809 | ||
| 2022 £ 360,384 |
||
| 2022 £ 97,662 108,054 132,231 7,469 2,408 7,375 |
||
| 355,199 | ||
| 2022 £ 5,185 |
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KEHAL CHASIDEI WIZNITZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
5. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Support | 66 | 2,075 | 2,141 |
| Support costs, included in the above, are as follows: | |||
| Finance | |||
| 2023 | 2022 | ||
| Total | |||
| Support | activities | ||
| £ | £ | ||
| Bank charges | 66 | 70 | |
| Governance costs | |||
| 2023 | 2022 | ||
| Total | |||
| Support | activities | ||
| £ | £ | ||
| Independent examiner's fee | 600 | 540 | |
| Independent examiner's other fees | 1,440 | 1,260 | |
| General expenses | 35 | 35 | |
| 2,075 | 1,835 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
7. AVERAGE NUMBER OF STAFF
The average number of staff in the year was Nil (2022 - Nil).
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Loan | 3,000 | 6,000 |
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KEHAL CHASIDEI WIZNITZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted fund fund £ £ Current assets 3,331 1,492 Current liabilities (2,040) - 1,291 1,492 11. MOVEMENT IN FUNDS At 1.9.22 £ Unrestricted funds General fund 4,204 Restricted funds Restricted fund - TOTAL FUNDS 4,204 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 23,819 Restricted funds Restricted fund 452,569 TOTAL FUNDS 476,388 |
2023 2022 £ £ 2,040 1,800 2023 2022 Total Total funds funds £ £ 4,823 6,004 (2,040) (1,800) 2,783 4,204 Net movement At in funds 31.8.23 £ £ (2,913) 1,291 1,492 1,492 (1,421) 2,783 Resources Movement expended in funds £ £ (26,732) (2,913) (451,077) 1,492 (477,809) (1,421) |
|---|---|
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KEHAL CHASIDEI WIZNITZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.9.21 £ Unrestricted funds General fund 3,689 Restricted funds Restricted fund 3,156 TOTAL FUNDS 6,845 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 17,983 Restricted funds Restricted fund 341,665 TOTAL FUNDS 359,648 |
Net movement At in funds 31.8.22 £ £ 515 4,204 (3,156) - (2,641) 4,204 Resources Movement expended in funds £ £ (17,468) 515 (344,821) (3,156) (362,289) (2,641) |
|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
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