## **BRITISH FRIENDS OF TIFERES CHAIM** (Registered Charity No. 1121054) ## **FINANCIAL STATEMENTS** **for the year ended 30 September 2021** **BRITISH FRIENDS OF TIFERES CHAIM** ## **INDEX TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2021** Page 1 - 2 Trustees' Report 3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 - 7 Notes to the Financial Statements ## **BRITISH FRIENDS OF TIFERES CHAIM TRUSTEES' REPORT** The Trustees have pleasure in presenting their Report together with the Financial Statements of the Trust for the year ended 30 September 2021. ## **LEGAL AND ADMINISTRATIVE INFORMATION** The Charity is governed by a Deed of Declaration of Trust dated 12[th] March 2007. Trustees are appointed by the existing Trustees by Deed of Appointment and suitable recruitment and training procedures apply. The Trustees who served throughout the year were Mr Ashley Fisher, Mr Jerry Fried and Mr Julian Lewin. Day to day affairs of the charity are administered by the trustees, the Chair of which is Mr Julian Lewin. ## **OBJECTIVES AND POLICIES OF THE TRUST** The Trust was established for the advancement of the Jewish religion and culture among the Jewish community throughout the world. ## **ACHIEVEMENTS AND PERFORMANCE** The trustees considered the Charity Commission guidance on public benefit and in fulfillment thereof the charity continued its philanthropic activities in support of religious, educational and other charitable organisations and aggregate charitable expenditure of £393,805 was made in the year to 30[th] September 2021. A new project called CHAYEINU launched in the previous year in Manchester continues to be successful and our ACHIM project has been expanded. ## **RESERVES POLICY AND GOING CONCERN** It is the Trust’s policy to maintain unrestricted funds in order to ensure that it is in a position to continue its Grant-making activities and to cover contingencies of additional calls being made upon the Charity for support of organisations or institutions in times of need. ## **INVESTMENT POLICY** The Trust Deed empowers the trustees to make investments which the trustees consider appropriate. The trustees aim to effect investments which, over a medium period of years, are anticipated to generate a dependable flow of income coupled with capital growth. ## **GRANT-MAKING POLICY** Grants are made to charitable institutions and organisations in accordance with the objects of the charity. 1 TRusfEES' REPORT { coNrtNUED ) RISK MANAGEM The Trusiees have assessed the major risks ￿ which the Tn￿[ is exp)sed, in particular those ￿ the operations and finances of th¢ Trusl. and arc sa¢isfi¢d thai syS￿n￿ are in place to mitigate its exposure 10 those risks. TRUSTEES, RESPONSIBILITIES The Trustees arc requir￿1 to pr¢paTC Firw￿la1 Sta￿ments for cach financial year which give a tnje and fair view of the Sta￿ of affairs of the Trusi arn1 of its surplus or deficieThcy for that period. In preparing the Financial Sthtements. the Trusiees are required 10.. scleci suilablc accounting ￿1]¢1¢5 and apply them con8isiendy make judgements and e5tima*s that arc reasonable atMI pn￿ent follow applicable accouniing sta￿lardS, subject ts) any material dcparfures disclosed and explained in the Financial Staiemcnts iv) prepare the Financi￿ sts￿nents on the going Co[￿ern basis unless il is inappropriate presume thai the tn￿1 will continue in t￿siness. The Trustres are resw)nsible for rnainthining proper accouniing records which disclose with reasonable accuracy at any lime the financial ￿>s1[10n of the Trusi and to enable them to ensure thai the Financial S￿lements compl> with the Chariiies Aci 2011. They are also respnnsible for safeguarding the asseis of the Trusi and hence for ￿kIng r￿onable steps for the prevention aTr delection of fraud and other irregulariiies. Mr Julian ￿win - Date: 24° July 2022 BRITISH FRIENDS OF TIFERES CHAIM INDEPENDEN'T EXAMINER'S REPORT TO THE TRUSTEES OF BRITISH FRIENDS OF I"IFERES CHAIM YEAR ENDED 30 SEvfEMBER 2021 I report on the accounts ofihe chariry for the year ended 31P Sepiember 2021 sel out on pages 4 to 7. RESPECTIN'E RESPONSIBILITIES OF TRUSTEES AYD INDEPENDE￿r EXAMINER The chanry's tru8iees are r&sponsible for the preparation of Ihe ac¢ounts. The chaniy's Irusiccs considcr thai an audil is not Tcquircd for ihis yur under section 144 of the Charities Acr 2011 (Ihe Charities Aci) and thar an independenl examinalion is needed. li iq my responsibilily lo.. examine the accounts under scction 145 of the Charilies ACL to follow the pr￿edureS laid down in ihe general Directions given by the Charity Commission (under seciion 5451511bl of ihe Charitie5 Act. and to stat¢ whether particular matters have come ￿ my attenU"on. BASIS OF INDEPENDENT EXAMIYER'S STATEMENT My examination was carried oui In accordance with general Directions given by the Chariry Commission. An examinalion Includes a review of the accouniing records kepi by ihe charity's irusiees consider thal an audil Is not required for Ihis year under section 144 of the Charitie5 Aci 2011 (the Chaniies Act) and ihai an independent exaniination chanty and a comparison Df the accoun18 presented wilh ihose records. li also includes consideration of any unusual Items or disclosurcs In the accounts, and seeking cxplanaiions from thc trustees concerning any such matters. The procedurcs undertaken do not provide all the evidence that would be rcquired in an audit, and conscqucntly no opinion is ￿Ven as to whether the accounts prescnt a 'true and fair. view and ¢h¢ rcport is limited lo thosc matters sci out In the statement below. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confim) ihat no mat￿S hav¢ come to my attention in connection with the examination giving me reasonable cause lo believe that in any material respect". accounting records were not kept in respect of ihe charity as rquired by section 130 Ot. the 2011 Act; or the aLcounts do accord wilh those records. or Ihe a¢¢ount5 do noi comply wilh ihe applicable requirements ¢oncerning the forni and Content of accounis set out in ihe c.harities IAccounts and Reports} Regulolion.8 2008 other Ihan any rcquircment that the accoun1% give a 'true and fair view which is not o matter ¢onsidcred as part of an indepertdeni examiTraElOn. Mr L. L£rner FCA 42 Rostrevor Avenue London N15 6LP Indcpcndent exAminer Date: 24" July 2022 ## **BRITISH FRIENDS OF TIFERES CHAIM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021** |**Note**
**£**
**GENERAL FUND**
**INCOMING RESOURCES**
**1.2**
Incoming Resources from Generating Funds
Voluntary Income - Donations Received
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
Charitable activities
**4**
**393,805**
______
**TOTAL RESOURCES EXPENDED**
**NET INCOMING** **RESOURCES**
**FOR THE YEAR**
**NET UNRESTRICTED FUNDS**
**BROUGHT FORWARD**
**UNRESTRICTED FUND CARRIED**
**FORWARD**
All movements are in unrestricted funds|**2021**
**£**
£
**320,040**
**______**
**320,040**
**279,010**
______
**393,805**
**______**
**(73,765)**
**______**
**90,615**
**_____**
**16,850**
**_____**|2020
£
**363,948**
______
**363,948**
**279,010**
______
**84,938**
______
**5,677**
_____
**90,615**
_____| |---|---|---| The notes on pages 6 to 7 form part of these Financial Statements. 4 BRITISH FRIENDS OF TIFERES CHAIM ATEMENT OF FINANCIAL posrrIoN 30 SEPTEMBER 2021 Note 2021 2020 CURRE￿ ASSETS Cash ai Bank Debtors 16,850 NET CURRE￿ A&￿s (￿.850 I54202 CREDITORS: Amounts falling duc within onc year NET CURRENT ASSETS 140,615 CREDITORS: Amounts falling due within one year (SO,(￿) (50,000) NET ASSETSILIABILITIES £16,850 £90,615 UNRESTRicfED FUNDS £16,850 £90,615 These financial statements were approved by the board of trustees and authorised for issue on 24, July 2022, and are signed on behalf of the board by: Julian L*wln . TRU The on pages 6 (0 7 foTm part of these Fin￿la] SNemcnts. **BRITISH FRIENDS OF TIFERES CHAIM** **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## 1. GENERAL INFORMATION The Charity is governed by a Deed of Declaration of Trust dated 12[th] March 2007. The address of the charity is 39 Northumberland Street, Salford M7 4DG. ## 2. STATEMENT OF COMPLIANCE These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. 3. ACCOUNTING POLICIES ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. The charity meets the definition of a public benefit entity under FRS 102. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no significant judgements or estimates made in the preparation of these financial statements. ## **Fund accounting** General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. ## **Incoming resources** Incoming resources represent receipts under gift aid and other donations received and income from syndicated investments in property. ## **Resources expanded** All expenditure is classified under the Charity's principal categories of charitable and other expenditure and by the type of expense. 6 **BRITISH FRIENDS OF TIFERES CHAIM** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **Financial instruments** A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. ## **4. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE** ||**2021**|2020| |---|---|---| ||**£**|£| |Charitable Activities from Unrestricted Funds|**393,805**|**279,010**| The costs of charitable activities of £393,805 includes £210,723 to support the charity’s ACHIM project based in Manchester UK, and £100,641 to Yeshivat Hiyun Hatalmud to support monthly stipends for research students studying under the Tiferes Chaim Kollel project in Israel and £82,439 to Yankov Charitable Trust. ## **5. FUNDS** |Balance at 1stOctober 2020
Net Incoming Resources for the Year
Balance at 30thSeptember 2021|**£**
**90,615**
**(73,765)**
**£16,850**
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