BRITISH FRIENDS OF TIFERES CHAIM {Registered Chariiy No. 1121054) IAL STATEMENTS for Ihe yegr ended 30 September 2023
BRITISH FRIF.)DS OF TIFERES CHAIM II%DEX TO THE FINLNCIAL STATEMEI%T.S FOR THE YEAR ENDED 30 SEPTEMBER 2023 Page Tnle¢s, Report Independeni Examiner's Report Ststemeni of Financial Aclivities Balance She Notes io ihe Financial Ststements
BRITISH FRIENDS OF TIFERES CHAIM TRUSTEES, REPORT The Trustees have pleasure in presenting their Report iogether with the Financial Statements of the Trust for Ihe year ended 30 Sepi¢mber 2023. LEGAL AND ADMINISTRATIVE IliFORMATIOY The Chariry is governed by a Deed of Declaralion of Trust dated 12 March 2007. Truslees are appoinied by the existing Truslees by Deed of Appointhjent and suithble recrnimieni and training proc¢durcs apply. The Tru51ees 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 trusiees. the Chair of which is Mr Julian Lewin. OBJECTIVES AND POLICIES OF THE TRUST The Trusl was established for the advancemeni of the Jewish religion and culture among the Jewish community throughout the world. ACHIF.VEMENTS AND PERFORMANCE The trusiees considered the Charity Commission guidance on public benefit and in fulfillrnent thereof the charily continued its philanihropi¢ aclivities in support of religious, educational and other charitable organigations. with aggregate charitable expenditure of £515.746 in the year 30 September 2023. Besides supporting the Tiferes Chaim kollelim, an exciting project called CHA YEINU launch¢d recenily in Manchester coniinu¢s to be successful and our ACHIM project has been cxpanded. RESERVES POLICY AND GOING COYCEIL It is the Trust's policy to mainlain unrestricied funds in order to ensure that it is in a position to continue 115 Grani-making activitie5 and io cover contingencies of additional calls being made upon the Charity for support of organisations or institutions in times of need. INN'F.STMENT POLICY The Trusl Deed empowers the tnL8tees io make investmenLS which (he trUSS consider appropriate. The INstees aim to effect ini'esttnenls which. over a medium period of years, are anticipated to generaie a dependable flow of income Coupl with capilal growth. GRANT-MAKING POLICY Grnnts are made to chariiable institutions and organisations in accordance with ihe objects of the charity.
BRITISH FRIENDS OF TIFERES CHAIM TRLSTEES, REPORT ( CONTINUED ) RISK MANAGEMENT The Trusiees have assessed the major risks to which th¢ TnLSt is exp)sed. in particular those the operations and finances of the Tn1. and are satisfied ihat SysmS are in place to mitigate its exposure to those risks. TRUSTEES, RESPONSIBILITIES The Trustees are required 10 prepare Financial Staiements for each financial year which gtve a true and fair view of the slate of 3ffairs of the Trust and of iis surplus or deficiency for tha( period. In preparing the Financial Stsiements. the Trustees are required to: select suitable accounting policies and apply them consisienily make judgements and Cstimaies thai are reasonable and prudent follow applicable accounling standards. subjeci to any maierial departures disclosed and explained in the Financial Sialemenls iv) prepare Ihe Financial Stsicments on thc going concem basis unless il is inappropriate to presume that thc trust will conlinue in business. The Trustees are responsible for mainlaining proper accouniing records which disclose with reasonabl¢ accurdcy ai any time (he financial position of ihe Trust and lo enable Ihem to ensure thal the Financial Statem¢nls comply wilh the Chariiics Act 2011. They are also responsible for safeguarding the assets of the Trust and hence for tsking reasonable Ss for the prevention and detection of fraud and other irregularities. Mr Julian Lewin Trustee DAte: 281h June 2024
BRITISH FRIEJDS OF TIFERES CHAIM INDEPENDENT EXAMINER'S REPORT TO THE TRLSTEES OF BRITISH FRIENDS OF TIFERES CH.41M YEAR KDED 30 SEVFEMBER 2023 I r¢port on the accounts of the chariry for the year ended September 2023 set out on pag¢s 4 to 7. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The chariry's mistees are responsible for the preparation of the accounts. The charity. Irusiees consider ihai an audiL is noi required for this yeaT under section 144 of ihe Chariiies Aci 2011 (Ihe Charities Aci) and that an independeni examination is needed. It is my responsibiliry io.. examine the accounts under section 145 of the Charities Act, to follow the proc¢dur¢s laid in ihe general Directions given by the Charity Cummission (under seciion 145(5Mb) of the Charilies Aci, and Lo state whether particular mai*rs have come to my atlention. BASIS OF INDF.PENDENT EXAMINER'S STATEMENT My Lxaminaiion Larricd uui in aLLor<laniL' '1[h general Directions given by the Charity Commission. An examinaiion includes a review of ihe accowiiing records kepi by the harity's inl¢eS Lonsider ihai an audil is noi required for this year under section 144 of the Chariiies Aci 201 I (the Charities Acil and that an independent examinalion chariry and a comparison of the accounis presented wilh ihose records. li also includes consideration of any unusual iiems or disclosures in the accounis, and seeking explanaiions Irom the trustees conL¢ming any such matlcrs. The procedUS undenaken do not provide all the cvidenLe that M'ould be required in an audii, and consequently no opinion is gien as lo wheiher the aLLounts pr¢sent a 'true and fair. view and ihe rcw)rt is limiied to th08c matters s¢t out in the statement below. II%DEPENDEliT EXAMINER'S STATEMENT I have completed my cxamination. I confirn1 thai no matters have com¢ Iv my attenlion in onnection with thc examinaiion giving me reasonable caus¢ lo believe that in any material respecl: accounting records weTe not kept in respect of the charity required by section 130 of the 2011 Act. or thc accounis do not accord with those rOrdS. of the accounts do not comply wilh the applicable requirements concerning the forni and content of accounis set oui in the Charitics (Accounts and Reports) Regulations 2008 other than any requirement that ihe accounts give a 'true al fair view which is not a m&t(¢r considered as part of an independeni ¢xamina(ion. Mr L. Lerner FCA 9 Winchesier Avenue, Prcstwich, Manchester M25 OLJ Independenl examin¢r Dale.. 28 June 2024
BRITISH FRIEYDS OF TIFERES CHAIM STATENIENT OF FI)ANCL ACTII'ITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023 Note 2023 2022 GENERAL FUND INCOMING RESOURCES Incoming Resources from Generaiing Funds Voluntary Incom¢- Donations Received Bank Interest 530,188 91 426,222 TOTAL INCOMII%G RESOURCES 530,279 426,222 RESOURCES EXPENDED Charitsble activities 515.746 455J34 TOTAL RE.SOURCES EXPENDED 515.746 455 J34 NF.T INCOMING RESOURCES FOR THF. YEAR 14533 (29,112) NET UNREfiTRICTED FUNDS BROUGHT FORWARD 2,271 16,850 UNRESTRICTED FUND CARRIED FORWARD 2,271 (12,262) All movements are in unTestricied funds The notes on pages 6 to 7 fom part of these Financial Statements.
BRITISH FRIENDS OF TIFERES CHAIM STATENffF.NT OF FIN.4NCIAL POSITIOY 30 SEPTEIIBER 2023 2023 2022 CURRENT ASSETS Cash at Bank Debiors 10,042 NET CURRENT ASSETS 42,004 32,471 CREDITOILS: Amounts fallin8 due within one year NET CURRENT ASSETS 37.004 27,471 CREDITORS: Amounts falling due after one year (34.733) (39.733) NET ASSETSILIABILITIES £2,271 £(12,262) UNRF,STRICfED FUNDS £2,271 £(12,262) These financial stalemenis were approved by the board of trnstees and authorised for issue on 28, June 2024, and are signed on behalf of the board by: Julian Lewin - TRUSTEE The notes on pages 6 to 7 forni part of ihese Financial Staiements.
BRITISH FRIF.YDS OF TIFERES CHAIM OTES TO THE FIYANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 I. GENERAL INFORMATION The Charity is governed by a Deed of DeclaTation of Trusi dated 12 March 2007. The address of the charity is 39 Northumb¢rland Sireei, Salford M7 4DG. 2. ST A TF.MF.NT OF COMPLIANCE These financial sthiements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, Ihe Statement of Recommended Prdclice applicable to charities preparing iheir accounts in accordance with thc Financial Reporting Standard applicablc in ihe UK and Republic of Ireland (FRS 102) (Chariiies SORP IFRS 102)) and the Charilies Aci 2011. 3. ACCOUNTTNG POLICIES Basis of preparation The financial statements have been prepared on ihe historical cosi basis, as modified by the revaluation of certain financial assels and liabiliiies and inveslmenl properties n)easured at fair value through income or expenditure. The financial staiemenls are prepared in sterling, which Is the fijnctional currency of the entity. The charity mee15 Ihe definilion of a public benefil eniiiy under FRS 102. Golng concern There are no material uncertainties about the Charits ability io continue. Judgements and kev sources of estimatlon uncertalnty The preparation of the financial staiemenls requires management to make judgemenls, esiimates and assumpiions thai affect the amounts reported. These e51imaies and judgements are continually reviewed and are based on experience and other factors. including expectations of fulure events ihat are believed to be reasonable under the circumstances. There were no significant judgements or eslimaies made in Ihe preparalion of these financial slaiements. Fund accounting General unrestricted funds comprise the accumulated surplw or deficit on income and expendilure account. They are available for use at the discretion of the TrsleeS in furtherdnce of the gener81 objeclives of the Charity. Incoming resources Incoming resources represent receipts under gift aid and other donations Teceived and income from SyndiCed investments in property. Resourees expanded All expendimre is classitied under the Charli5 prinripal rntcgories of choritable and other expenditu and by the type of expense.
BRITISH FRIENDS OF TIFERES CHAIM YOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Financial instruments A financial asset or a financial liability is recognised only when ihe entity becomes a party to the contractual provisions of the instrument. Basic financial inslnmients are initially recognised at the amount receivable or payable including any related iransaction costs, unless the arrangemenl constituies a financing transaclion, where it is recognised at ihe present value of the future payments discounted at a market rale of interest for a similar debt inslrumenl. Current assets and current liabiliiies are subsequenily measured at the cash or other consideration expected io Ix paid or received and noi discounied. 4. COSTS OF CHARITABLE ACTIVITIES BY FUliD TYPE 202_1 2022 Charitable Aclivitics from Unresiricted Fund5 515,746 455J34 The costs of charitabSe activiiies of £515.746 includes £381,737 to support the charity's ACHIM and other kollel projects based in Manchestcr UK, and £131,980 to Yeshival Hiyun Hatalmud to support monihly giipends for research studenis Studying under the Tiferes Chaim Kollel project in Israel. FUNDS Balance at l October 2022 Net Incoming Resources for the Year (12,262) Flalance at 30 September 2023 £2,271