Zichron Zvi Trust
Annual Report and Financial Statements
For year ended 30 June 2022
Charity Number 1140831
Accounts and Business Solutions Limited
158 Cromwell Road Salford M6 6DE
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Zichron Zvi Trust Charity Commission Number 1140831 Financial Statements For Year Ended 30 June 2022
Contents
| Charity Information Report of The Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes forming part of the financial statements Detailed Statement of Financial Activities |
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| 3 4 - 5 6 7 8 9 10 |
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Zichron Zvi Trust
Charity Commission Number 1140831 Financial Statements For Year Ended 30 June 2022
Charity Information
Board of Trustees
Menachem Friedman Yoel Friedman Yehuda Bittman
Administration Address
12 Turner Street Salford M7 4PD
Charity Number
1140831
Bankers
Cashplus Bank Cottons Centre Cottons Lane London SE1 2QG
Accountants and Independent Examiners
Accounts and Business Solutions Limited 158 Cromwell Road Salford M6 6DE
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Zichron Zvi Trust Charity Commission Number 1140831 Financial Statements For Year Ended 30 June 2022
Report of the Trustees
Status and Administration
The Charity constituted by trust deed, dated 20th May 2020 is a registered charity.
Trustees
The Trustees in office throughout the year were Mr M Friedman, Mr Y Friedman and Mr Y Bittman.
No trustee nor any person connected with them received any remuneration during the year.
Charitable Objects
The object of the charity is;
The relief of financial hardship among people of the Jewish community in the Greater Manchester area by providing such persons with goods at cost or below.
During the year the charity made use of its obtained funds and reserves, of which £55,736 (2021: £30,632) was utilised by making charitable grants and donations.
It is envisaged that similar progress will ensue in the following year.
Donations received
Donations received during the year amount to £66,499 (2021: £32,878.16).
Grants and Donations
None of this valuable work would be possible without the ongoing support of our funders who have faith in our organisation.
These funds have enabled us to provide the much needed support to the beneficiaries The recipients of our services continuously express their appreciation and admiration to all members of the public that assist us in delivering vital services.
We are proud to state that the funds are being utilized to provide maximum benefit possible to as many beneficiaries as possible.
Reserves Policy
The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they feel to be appropriate.
Public Benefit Disclosure
The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
Remuneration and benefits
The trustees received no remuneration and benefits during the year.
Governing Document
The charity's governing document is in the form of a trust deed. The revised trust deed was signed on 20th May 2020.
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Zichron Zvi Trust Charity Commission Number 1140831 Financial Statements For Year Ended 30 June 2022
Report of the Trustees (continued)
Responsibilities of the Trustees
Charity Law requires the 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 Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year.
In preparing those financial statements, the Trustees should follow best practice and
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a. Select suitable accounting policies and apply them consistently.
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b. Make judgments and estimates that are reasonable and prudent.
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c. Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements.
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d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Trustees to ensure that the financial statements comply with the Charity Law.
The Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.
Approved by The Trustees on 24/04/2023
Menachem Friedman - Trustee
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Zichron Zvi Trust Charity Commission Number 1140831 Financial Statements For Year Ended 30 June 2022
Independent Examiner's Report to the Trustees
I report on the financial statements of Zichron Zvi Trust for the year ended 30 June 2022.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2015 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2015 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
a) the accounting records were not kept in accordance with section 130 of the Charities Act;
b) the accounts did not accord with the accounting records; or
c) the accounts did not comply with the applicable requirements concerning the form and
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.
David Pollak
Accounts and Business Solutions Limited 158 Cromwell Road Salford M6 6DE
Date: 24 April 2023
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Zichron Zvi Trust
Charity Commission Number 1140831 Financial Statements
For Year Ended 30 June 2022
Statement of Financial Activities
| Incoming Resources Donations Received Less: Charitable expenditure Cost of Activities In Furtherance of the Charity's Objects Bursaries and distributions Administrative expenditure Governance costs General administrative expenses Accumulated Funds Net surplus / (deficit) for the year Balance brought forward Balance carried forward |
Notes 3 4 |
Unrestricted funds £ 66,499 66,499 55,736 55,736 500 2,494 2,994 7,769 1,796 9,565 |
2022 Total £ 66,499 66,499 55,736 55,736 500 2,494 2,994 7,769 1,796 9,565 |
2021 Total £ 32,878 32,878 30,632 30,632 450 - 450 1,796 0 1,796 |
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The notes on page 9 form part of these accounts.
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Zichron Zvi Trust Charity Commission Number 1140831 Financial Statements
For Year Ended 30 June 2022
Balance Sheet At 30 June 2022
| Current Assets Cash at Bank Current Liabilities Accruals 5 Net Assets Accumulated Funds Restricted Unrestricted |
2022 £ 10,065 10,065 500 500 9,565 0 9,565 9,565 |
2021 £ 2,246 2,246 450 450 1,796 0 1,796 1,796 |
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Approved by the Trustees on 24 April 2023 and signed on behalf of them all.
Menachem Friedman - Trustee
The notes on page 9 form part of these accounts.
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Zichron Zvi Trust Charity Commission Number 1140831 Financial Statements
For Year Ended 30 June 2022
Notes To The Accounts
1) Principal Accounting Policies
Basis of Accounting
The Accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities (Effective April 2008), and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice (Issued March 2005).
Cash Flow
The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.
Donations and Fund Accounting
Rental Income received for the general and main purposes of the Charity is included as unrestricted funds in the Statement of Financial Activities when receivable.
Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.
Resources Expended
Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year. These estimates are based on the time and level of activity as appropriate.
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The irrecoverable element of VAT is included with the item of expense to which it relates. Depreciation
Depreciation on tangible assets is calculated at 15% reducing balance.
Support costs
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
2) Turnover
The total turnover of the charity for the year has been derived from its principal activity wholly undertaken in the UK.
| 3) Bursaries and distributions 4) Governance Costs 5) Current liabilties Accruals |
2022 £ 55,736 55,736 2022 £ 500 500 2022 £ 500 500 |
2021 £ 30,632 30,632 2021 £ 450 450 2021 £ 450 450 |
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Zichron Zvi Trust
Charity Commission Number 1140831 Financial Statements
For Year Ended 30 June 2022
Detailed Statement of Financial Activities
| Incoming Resources Donations Received Less: Charitable expenditure Cost of Activities In Furtherance of the Charity's Objects Bursaries and distributions Administrative expenditure Accountancy Bank Charges Light and Heat Heat Accumulated Funds Net surplus / (deficit) for the year |
Notes | Unrestricted funds £ 66,499 66,499 55,736 55,736 500 69 2,078 347 2,994 7,769 |
2022 Total £ 66,499 66,499 55,736 55,736 500 69 2,078 347 2,994 7,769 |
2021 Total £ 32,878 32,878 30,632 30,632 450 0 0 0 450 1,796 |
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