## **Revach Vehazola Trust**
**Charity No. 1143010**
## **Trustees' Report and Unaudited Accounts**
**31 July 2022**
**Revach Vehazola Trust Contents**
||Pages|
|---|---|
|Trustees' Annual Report|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Accounts|7 to 12|
|Detailed Statement of Financial Activities|13 to 14|
Page 1
**Revach Vehazola Trust Trustees Annual Report**
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 July 2022.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity No. 1143010**
## **Principal Office**
10, Zemba House 63 Stamford Hill London N16 5FE
## **Trustees**
The following trustees served during the year:
M. Monderer
Y.B. Rosenbaum
## **Accountants**
S J Sheldon Ltd 20 Clarence Road Hale Cheshire WA15 8SG
## **OBJECTIVES AND ACTIVITIES**
The charity is constitutes by trust deed dated the 7th July 2011 and is a registered charity
The charity's objective is to promote the advancement of the Jewish Religion, education and learning of the Orthodox Jewish Faith, the relief from poverty, the provision of food and drink and assistance for the aged, vulnerable and infirm and such other purposes as recognised by English Law as charitable. These objectives were continued during the year.
## **ACHIEVEMENTS AND PERFORMANCE**
The charity has continued to promote and educate the learning of the Orthodox Jewish Faith.
A larger charity must provide an explanation of any material expenditure occurred to raise income in the future...
## **FINANCIAL REVIEW**
The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants, which they deem to be appropriate.
## **Statement of trustees' responsibilities in relation to the financial statements**
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
**Revach Vehazola Trust Trustees Annual Report**
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
Y.B. Rosenbaum Trustee 06 December 2022
Page 3
**Revach Vehazola Trust Independent Examiners Report**
## **Independent Examiner's Report to the trustees of Revach Vehazola Trust**
I report to the trustees on my examination of the financial statements of Revach Vehazola Trust for the year ended 31 July 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 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**
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by being a qualified member of Institute of Financial Accountants.
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
- the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Simon Sheldon Institute of Financial Accountants S J Sheldon Ltd 20 Clarence Road Hale Cheshire
WA15 8SG 06 December 2022
Page 4
**Revach Vehazola Trust Statement of Financial Activities**
## **for the year ended 31 July 2022**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
3
**Total**
**Expenditure on:**
Charitable activities
4
Other
5
**Total**
Net gains on investments
**Net expenditure**
Transfers between funds
**Net expenditure before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**||**Unrestricted**
**funds**|**Total funds**|**Total funds**|
|---|---|---|---|---|
|||**2022**|**2022**|**2021**|
|||**£**|**£**|**£**|
||||||
|||452,842|452,842|30,352|
|||452,842|452,842|30,352|
||||||
|||475,963|475,963|50,530|
|||3,384|3,384|285|
|||479,347|479,347|50,815|
|||-|-|-|
|||(26,505)|(26,505)|(20,463)|
|||-|-|-|
|||(26,505)|(26,505)|(20,463)|
||||||
|||(26,505)|(26,505)|(20,463)|
||||||
|||(14,872)|(14,872)|5,591|
|||(41,377)|(41,377)|(14,872)|
||||||
||||||
||||||
Page 5
**Revach Vehazola Trust Balance Sheet at 31 July 2022**
|**Charity No. 1143010**
**Fixed assets**
Investments
7
**Current assets**
Debtors
8
Cash at bank and in hand
**Creditors:**Amount falling due within one year
9
**Net current (liabilities)/assets**
**Total assets less current liabilities**
**Creditors:**Amounts falling due after more than one year
10
**Net liabilities excluding pension asset or liability**
**Total net liabilities**
**The funds of the charity**
**Restricted funds**
11
**Unrestricted funds**
11
General funds
**Reserves**
11
**Total funds**
Approved by the trustees on 13 December 2022|**2022**
**£**
30,000
30,000
91,794
5,924
97,718
(119,095)
(21,377)
8,623
(50,000)
(41,377)
(41,377)
(41,377)
(41,377)
(41,377)|**2021**
**£**
30,000|
|---|---|---|
|||30,000
111,772
19,332|
|||131,104
(125,976)|
|||5,128
35,128
(50,000)|
|||(14,872)|
|||(14,872)|
|||(14,872)|
|||(14,872)|
|||(14,872)|
||||
And signed on their behalf by:
Y.B. Rosenbaum Trustee 06 December 2022
Page 6
**Revach Vehazola Trust Notes to the Accounts**
## **for the year ended 31 July 2022**
- 1 **Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Change in basis of accounting or to previous accounts**
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
## **Fund accounting**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
- Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
**Revach Vehazola Trust Notes to the Accounts**
## **Expenditure**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Freehold investment property**
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
**Revach Vehazola Trust**
**Notes to the Accounts**
## 2 **Statement of Financial Activities - prior year**
|**Income and endowments from:**
Donations and legacies
**Total**
**Expenditure on:**
Charitable activities
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
3
**Income from donations and legacies**
Gifts and donations
4
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
_Governance costs_|**Unrestricted**
**£**
452,842
452,842
**Unrestricted**
**£**
475,963
-
475,963|**Unrestricted**
**funds**
**2021**
**£**
30,352
30,352
50,530
285
50,815
(20,463)
(20,463)
(20,463)
5,591
(14,872)
**Total**
**2022**
**£**
452,842
452,842
**Total**
**2022**
**£**
475,963
-
475,963|**Total funds**
**2021**
**£**
30,352|
|---|---|---|---|
||||30,352
50,530
285|
||||50,815|
||||(20,463)|
||||(20,463)|
||||(20,463)
5,591|
||||(14,872)|
||||**Total**
**2021**
**£**
30,352|
||||30,352|
||||**Total**
**2021**
**£**
50,000
530|
||||50,530|
Page 9
**Revach Vehazola Trust Notes to the Accounts**
## 5 **Other expenditure**
|**Unrestricted**
**£**
Motor and travel costs
696
Premises costs
321
General administrative costs
67
Legal and professional costs
2,300
3,384
6
**Staff costs**
No employee received emoluments in excess of £60,000 (2020: NIL)
7
**Investments**
**Cost or revaluation**
At 1 August 2021
At 31 July 2022
**Net book values**
At 31 July 2022
At 31 July 2021|**Unrestricted**
**£**
Motor and travel costs
696
Premises costs
321
General administrative costs
67
Legal and professional costs
2,300
3,384
6
**Staff costs**
No employee received emoluments in excess of £60,000 (2020: NIL)
7
**Investments**
**Cost or revaluation**
At 1 August 2021
At 31 July 2022
**Net book values**
At 31 July 2022
At 31 July 2021|**Total**
**2022**
**£**
696
321
67
2,300
3,384
**Freehold**
**Investment**
**Property**
**£**
30,000
30,000
30,000
30,000|**Total**
**2021**
**£**
255
-
30
-|
|---|---|---|---|
||||285|
||||**Total**
**£**
30,000|
||||30,000|
||||30,000|
||||30,000|
|||||
|||||
|The charity has a freehold property investment||||
|8
**Debtors**
Trade debtors
Other debtors
9
**Creditors:**
amounts falling due within one year
Trade creditors
Other creditors
10 **Creditors:**
amounts falling due after more than one year
Bank loans and overdrafts|**2022**
**£**
10,000
81,794
91,794
**2022**
**£**
1,614
117,481
119,095
**2022**
**£**
50,000
50,000||**2021**
**£**
10,000
101,772|
||||111,772|
||||**2021**
**£**
1,614
124,362|
||||125,976|
||||**2021**
**£**
50,000|
||||50,000|
Page 10
**Revach Vehazola Trust Notes to the Accounts**
## 11 **Movement in funds**
|**Restricted funds:**
**Unrestricted funds:**
**General funds**
**Total funds**
12 **Analysis of net assets between funds**|**At 1 August**
**2021**
(14,872)
(14,872)|**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
452,842
452,842
**Unrestricted**
**funds**
**£**|**Resources**
**expended**
**£**
(479,347)
(479,347)
**Restricted**
**funds**
**£**|**At 31 July**
**2022**
**£**
(41,377)|
|---|---|---|---|---|
|||||(41,377)|
|||||**Total**
**£**|
|Investments||30,000|-|30,000|
|Net current assets
Creditors due in more than one year and
provisions
13 **Reconciliation of net debt**
Cash and cash equivalents||(31,377)
(50,000)
(51,377)
**At 1 August**
**2021**
**£**|10,000
-
10,000
**Cash flows**
**£**|(21,377)
(50,000)|
|||||(41,377)|
|||||**At 31 July**
**2022**
**£**|
|||19,332|(13,408)|5,924|
|||19,332
(50,000)|(13,408)|5,924
(50,000)|
|Bank loans|||-||
|Net debt||(50,000)
(30,668)|-
(13,408)|(50,000)|
|||||(44,076)|
||||||
Page 11
**Revach Vehazola Trust Statement of Cash flows for the year ended 31 July 2022**
|**Cash flows from operating activities**
**Net expenditure per Statement of Financial Activities**
**Adjustments for:**
Decrease/(Increase) in trade and other receivables
Decrease in trade and other payables
**Net cash used in operating activities**
**Net cash from investing activities**
**Net cash from financing activities**
**Net decrease in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**|**2022**
**£**
(26,505)
19,978
(6,881)
(13,408)
-
-
(13,408)
19,332
5,924|**2021**
**£**
(20,463)
(10,000)
(50,749)|
|---|---|---|
|||(81,212)|
|||-|
||||
|||50,000|
||||
|||(31,212)|
|||50,544|
|||19,332|
||||
|**Components of cash and cash equivalents**|||
|Cash and bank balances|5,924|19,332|
||||
||5,924|19,332|
Page 12
**Revach Vehazola Trust Detailed Statement of Financial Activities**
## **for the year ended 31 July 2022**
|**Income and endowments from:**
Donations and legacies
Gifts and donations
**Total income and endowments**
**Expenditure on:**
Charitable activities
**Total of expenditure on charitable**
**activities**
Motor and travel costs
Vehicles - General costs
Travel and subsistence
Premises costs
Other premises costs
General administrative costs,
including depreciation and
amortisation
Bank charges
Postage and couriers
Telephone, fax and broadband
Legal and professional costs
Other legal and professional
costs
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net expenditure**
**Net expenditure before other**
**gains/(losses)**
Other Gains|**Unrestricted**
**funds**
**2022**
**£**
452,842
452,842
452,842
475,963
-
475,963
475,963
77
619
696
321
321
-
8
59
67
2,300
2,300
3,384
479,347
-
(26,505)
(26,505)
-|**Total funds**
**2022**
**£**
452,842
452,842
452,842
475,963
-
475,963
475,963
77
619
696
321
321
-
8
59
67
2,300
2,300
3,384
479,347
-
(26,505)
(26,505)
-|**Total funds**
**2021**
**£**
30,352|
|---|---|---|---|
||||30,352|
||||30,352
50,000
530|
||||50,530|
||||50,530
255
-|
||||255|
||||-|
||||-|
||||30
-
-|
||||30|
||||-|
||||-|
|||||
||||285|
||||50,815
-|
||||(20,463)|
||||(20,463)
-|
Page 13
**Revach Vehazola Trust Detailed Statement of Financial Activities**
|**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|(26,505)
(14,872)
(41,377)|(26,505)
(14,872)
(41,377)|(20,463)|
|---|---|---|---|
||||5,591|
||||(14,872)|
Page 14