## **BRITISH FRIENDS OF TIFERES CHAIM**
(Registered Charity No. 1121054)
## **FINANCIAL STATEMENTS**
**for the year ended 30 September 2022**
**BRITISH FRIENDS OF TIFERES CHAIM**
## **INDEX TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2022**
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 2022.
## **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, with aggregate charitable expenditure of £455,334 in the year to 30[th] September 2022. Besides supporting the Tiferes Chaim kollelim, an exciting 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
BRITISH FRIENDS OF TIFERES CHAIM
TRUSTEES, REPORT
( CONTINUED )
RISK MANAGEMENT
The Trustecs have assessd the major risks to which the Trust is exp)sed, in particular those to the
operations and finances of the Trusi. and are satisfied thai systems are in place to miiigate its exposure lo
Ihose risks.
TRUSTEES, RESPONSIBILITIES
The Trustees are required 10 prepare Financial Siatements for each financial year which give a true
and fair view of the state of affairs of the Trust and of its SUTplus or deficiency for thai period. In
preparing ihe Financial Sthiements. the Tnlee5 are required to..
select suitable accounting policies and apply them consistently
make judgements and estimates that are reasonable and prudeni
follow applicable accounting siandards, subject to any material departures disclosed and
explained in the Financial Siaiements
iv)
prepare the Financial Siatements on (he going concem basis unless it is inappropriate to
presume that ihe Irust will continue in business.
The Truslecs are responsible for maintaining proper accounling records which disclose with
reasonable accuracy al any lime the financial position of the Trnsl and lo enable them to ensure that
the Financial Stalemenls comply wilh the Charities Act 2011. They are also responsible for
safeguarding the asscis of the Trusi and hence lor iaking reasonable sleps for the prevenlion and
detection of fraud and oiher Irregularities.
Mr Jullan Lewin
Trustee
Date: 25th June 2023
BRITISH FRIENDS OF TIFERES CHAIM
IINDEPENDENT EXANIINER'S REPORT TO THE TRUSTEES OF
BRITISH FRIENDS OF TIFERES CHAIM
YEAR EI%DED 30 SEPTEMBER 2022
I report on ihe accounts of ihe chanty for the year ended 30 Sepiember 2022 sei out on pages 4 to 7.
RESPECTIVF. RESPONSIBILITIES OF TRUSTEES AYD INDEPENDENT EXAMINER
The charily's trustees are resp)nsible for the preparation of the accounts. The chanty's
irusiees consider that an audit Is not rcquired for Ihis year under seciion 144 of the Charities
Aei 2011 Iihe Charities Act) and that an Ind¢pendcnt examinalion is needed.
li is my r¢sponsibiliry lo".
examine the aceounts un(kr section 145 of the Chariiies Aci,
10 follow Ihe proLedures laid down in the general Direciions given by the Chariry
Commission {under seciion 145I51{b) of ihe Chariiies A¢t. and
io state wheiher particular matiers have come to my attention.
BASIS OF INDEPENDENT EXAMIYF.R'S STATENIENT
My examinaiion was Larri¢d oul in accordancc wilh general Directions given by Ihe Charity
Commission. An examination includes a revie, of thc accountingT records kepi by the
chariiy s trustces consider thai an oudit is noi required for ihis year under s¢c¢ion 144 of the
Charities Aci 2011 {Ihe Charities Acll and that an Independeni examinalion Lharity and a
Lomparison of ihe acLounis presented wilh ihose reLords. li also Includes considergtion of
any unusual items or disclosures In ihe accounts, and seeking explanaiions from ihe trustees
concernin&F any such maiters. The procedures undertaken do noi provide all ihe evidenL¢
Ihat would be required in an audit, and consequently no opinion is ¥l'tn as to whether ihe
accounis present a 'irue and fair, view and the report is limited io ihose maiters sei out In the
statemen( below.
INDF.PENDF.NT EXAMINER'S STATEMF.NT
I have compleied my examination. I confimi thai no matters have come tn my aiien(ion in
conneLiion wilh ihe examination wving me reasonable Cause io believe th81 in any material
respect..
uccouniing records were kepl In Tespect of th¢ chariry as required by section 130 of
the 2011 ALI: or
the accounts do not accord with Ihose records; or
the accounts do noi comply wilh ihe applicable requirements concerning ihe forni and
content of accounrs sei out In ihe Charilies IAccounis and Reports) Regulations 2008 other
Ihan any requirement ihai the accounis give a 'true and fair view which Is noi a malter
considered as part of an Indepcndent cxaminaiion.
Mr L. Lerner FCA
9 Winchester .4venue,
Prestwi¢h.
Manchester M25 OLJ
Independent examiner
Date-. 25, June2023
## **BRITISH FRIENDS OF TIFERES CHAIM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|**Note**
**2022**
**£**
**£**
£
**GENERAL FUND**
**INCOMING RESOURCES**
**1.2**
Incoming Resources from Generating Funds
Voluntary Income - Donations Received
**426,222**
**______**
**TOTAL INCOMING RESOURCES**
**426,222**
**RESOURCES EXPENDED**
Charitable activities
**4**
**455,334**
**393,805**
______
______
**TOTAL RESOURCES EXPENDED**
**455,334**
**______**
**NET INCOMING** **RESOURCES**
**FOR THE YEAR**
**(29,112)**
**______**
**NET UNRESTRICTED FUNDS**
**BROUGHT FORWARD**
**16,850**
**_____**
**UNRESTRICTED FUND CARRIED**
**FORWARD**
**(12,262)**
**_____**
All movements are in unrestricted funds
The notes on pages 6 to 7 form part of these Financial Statements.|2021
£
**320,040**
______
**320,040**
**393,805**
______
**(73,765)**
______
**90,615**
_____
**16,850**
_____|
|---|---|
4
BRITISH FRIENDS OF TIFERES CHAIM
STATEiIIF.JT OF FIN.4YCI.4I. POSITION
30 SEVTEIIBER 2022
Note
2022
2021
CURRENT ASSETS
Cash at Bank
Debtors
10,042
16,850
NET CURRENT ASSETS
32,471
66,850
CREDITORS: Amounts falling
due wiihin one year
NET CURRENT ASSETS
27.471
66,850
CREDITOtLS: Amounts falling
due after one year
(39.733)
(50,000)
NET ASSF.TSILIABILITIES
£{12,262)
£90,615
UNRF.STRICTED FUNDS
£<12,262)
£90,615
These financial slaiements were approved by the board of trusiees and authorised for issue
on 25 June 2023, and are signed on behalf of the board by..
Jullan Lewin - TRUSTEE
The notes on pages 6 10 7 fomi part of these Financial Statements.
**BRITISH FRIENDS OF TIFERES CHAIM**
**NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## 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 2022**
## **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**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Charitable Activities from Unrestricted Funds|**455,334**|**393,805**|
The costs of charitable activities of £455,334 includes £338,691 to support the charity’s ACHIM and kollel projects based in Manchester UK, and £73,851 to Yeshivat Hiyun Hatalmud to support monthly stipends for research students studying under the Tiferes Chaim Kollel project in Israel.
## **5. FUNDS**
|**FUNDS**||
|---|---|
||**£**|
|Balance at 1stOctober 2021|**16,850**|
|Net Incoming Resources for the Year|**(29,112)**|
|Balance at 30thSeptember 2022|**£(12,262)**|
||======|
7