**REGISTERED CHARITY NUMBER: 1147686** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 28 February 2021** **for** ## **Tzedokah Vchesed** Martin+Heller 5 North End Road London NW11 7RJ **Tzedokah Vchesed** **Contents of the Financial Statements for the Year Ended 28 February 2021** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5| |**Cash Flow Statement**|6| |**Notes to the Cash Flow Statement**|7| |**Notes to the Financial Statements**|8 to 12| |**Detailed Statement of Financial Activities**|13| **Tzedokah Vchesed** ## **Report of the Trustees for the Year Ended 28 February 2021** The trustees present their report with the financial statements of the charity for the year ended 28 February 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity was formed for the advancement of the orthodox Jewish faith, orthodox Jewish religious education, and the relief of poverty in the orthodox Jewish community.The charity's objects are to support charitable institutions or charitable purposes in any part of the world, and in particular to further religious education of Jewish youth and children and assist, in the relief of poverty, with their physical, mental,spiritual and moral welfare and development. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The financial results of the charity's activities for the period are fully reflected in the attached Financial Statements together with the notes thereon. ## **FINANCIAL REVIEW** ## **Reserves policy** The trustees consider the financial results for the period to be satisfactory, since balance sheet date increased funds have been raised. ## **FUTURE PLANS** The trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1147686 ## **Principal address** 18 Rostrevor Avenue London N15 6LR ## **Trustees** I Honig P Benedikt ## **Independent Examiner** Mr A Heller FCA 5 North End Road London NW11 7RJ Page 1 **Tzedokah Vchesed** ## **Report of the Trustees for the Year Ended 28 February 2021** Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ P Benedikt - Trustee Page 2 **Independent Examiner's Report to the Trustees of Tzedokah Vchesed** ## **Independent examiner's report to the trustees of Tzedokah Vchesed** I report to the charity trustees on my examination of the accounts of Tzedokah Vchesed (the Trust) for the year ended 28 February 2021. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached. Mr A Heller FCA 5 North End Road London NW11 7RJ Date: ............................................. Page 3 **Tzedokah Vchesed** ## **Statement of Financial Activities for the Year Ended 28 February 2021** |28.2.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
49,847
**EXPENDITURE ON**
Raising funds
3
8,250
**Charitable activities**
4
Donations paid
52,515
Other
-
**Total**
60,765
**NET INCOME/(EXPENDITURE)**
(10,918)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
15,130
**TOTAL FUNDS CARRIED FORWARD**
4,212|29.2.20
Total
funds
£
681,076
9,000
661,360
238
670,598
10,478
4,652
15,130| |---|---| The notes form part of these financial statements Page 4 **Tzedokah Vchesed** ## **Balance Sheet 28 February 2021** |||28.2.21|29.2.20| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**CURRENT ASSETS**|||| |Cash at bank||4,212|15,130| |**NET CURRENT ASSETS**||4,212|15,130| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||4,212|15,130| |**NET ASSETS**||4,212|15,130| |**FUNDS**|8||| |Unrestricted funds||4,212|15,130| |**TOTAL FUNDS**||4,212|15,130| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. P Benedikt - Trustee The notes form part of these financial statements Page 5 **Tzedokah Vchesed** ## **Cash Flow Statement for the Year Ended 28 February 2021** |||28.2.21|29.2.20| |---|---|---|---| ||Notes|£|£| |**Cash flows from operating activities**|||| |Cash generated from operations|1|(10,918)|10,716| |Interest paid||-|(238)| |Net cash (used in)/provided by operating activities||(10,918)|10,478| ||||| |**Change in cash and cash equivalents in**|||| |**the reporting period**||(10,918)|10,478| |**Cash and cash equivalents at the**|||| |**beginning of the reporting period**||15,130|4,652| |**Cash and cash equivalents at the end of**|||| |**the reporting period**||4,212|15,130| The notes form part of these financial statements Page 6 **Tzedokah Vchesed** ## **Notes to the Cash Flow Statement for the Year Ended 28 February 2021** ## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**OPERATING ACTIVITIES**||| |---|---|---| ||28.2.21|29.2.20| ||£|£| |**Net (expenditure)/income for the reporting period (as per the**||| |**Statement of Financial Activities)**|(10,918)|10,478| |**Adjustments for:**||| |Interest paid|-|238| |**Net cash (used in)/provided by operations**|(10,918)|10,716| ## 2. **ANALYSIS OF CHANGES IN NET FUNDS** |At 1/3/20
Cash flow
At
£
£
**Net cash**
Cash at bank
15,130
(10,918)
15,130
(10,918)
**Total**
15,130
(10,918)|28/2/21
£
4,212
4,212
4,212| |---|---| The notes form part of these financial statements Page 7 **Tzedokah Vchesed** **Notes to the Financial Statements for the Year Ended 28 February 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. DONATIONS AND LEGACIES** |Donations|28.2.21
£
49,847|29.2.20
£
681,076| |---|---|---| continued... Page 8 **Tzedokah Vchesed** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2021** |**3.**
**RAISING FUNDS**
**Raising donations and legacies**
Fundraising costs
**4.**
**CHARITABLE ACTIVITIES COSTS**
Donations paid
**5.**
**GRANTS PAYABLE**
Donations paid
The total grants paid to institutions during the year was as follows:
Donations paid
Total grants paid to institutions is comprised as follows:
Other donations less than £2,000|28.2.21
£
8,250
28.2.21
£
52,515
28.2.21
£
3,260|29.2.20
£
9,000
Grant
funding of
activities
(see note
5)
£
52,515
29.2.20
£
661,360
29.2.20
£
593,085
3,260
3,260| |---|---|---| |||| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 28 February 2021 nor for the year ended 29 February 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 28 February 2021 nor for the year ended 29 February 2020. continued... Page 9 **Tzedokah Vchesed** **Notes to the Financial Statements - continued for the Year Ended 28 February 2021** ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |||||Unrestricted| |---|---|---|---|---| |||||fund| |||||£| ||**INCOME AND ENDOWMENTS FROM**|||| ||Donations and legacies|||681,076| ||**EXPENDITURE ON**|||| ||Raising funds|||9,000| ||**Charitable activities**|||| ||Donations paid|||661,360| ||Other|||238| ||**Total**|||670,598| ||**NET INCOME**|||10,478| ||**RECONCILIATION OF FUNDS**|||| ||**Total funds brought forward**|||4,652| ||**TOTAL FUNDS CARRIED FORWARD**|||15,130| |**8.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1/3/20|in funds|28/2/21| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|15,130|(10,918)|4,212| ||**TOTAL FUNDS**|15,130|(10,918)|4,212| ||Net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|49,847|(60,765)|(10,918)| ||**TOTAL FUNDS**|49,847|(60,765)|(10,918)| continued... Page 10 **Tzedokah Vchesed** **Notes to the Financial Statements - continued for the Year Ended 28 February 2021** ## **8. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |||Net|| |---|---|---|---| |||movement|At| ||At 1/3/19|in funds|29/2/20| ||£|£|£| |**Unrestricted funds**|||| |General fund|4,652|10,478|15,130| |**TOTAL FUNDS**|4,652|10,478|15,130| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
681,076
681,076|Resources
Movement
expended
in funds
£
£
(670,598)
10,478
(670,598)
10,478| |---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1/3/19|in funds|28/2/21| ||£|£|£| |**Unrestricted funds**|||| |General fund|4,652|(440)|4,212| |**TOTAL FUNDS**|4,652|(440)|4,212| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|730,923|(731,363)|(440)| |**TOTAL FUNDS**|730,923|(731,363)|(440)| continued... Page 11 **Tzedokah Vchesed** **Notes to the Financial Statements - continued for the Year Ended 28 February 2021** ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 28 February 2021. Page 12 **Tzedokah Vchesed** ## **Detailed Statement of Financial Activities for the Year Ended 28 February 2021** ||28.2.21|29.2.20| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|49,847|681,076| |**Total incoming resources**|49,847|681,076| |**EXPENDITURE**||| |**Raising donations and legacies**||| |Fundraising costs|8,250|9,000| |**Charitable activities**||| |Grants to institutions|3,260|593,085| |Grants to individuals|49,255|68,275| ||52,515|661,360| |**Support costs**||| |**Management**||| |Bank charges|-|238| |Total resources expended|60,765|670,598| |**Net (expenditure)/income**|(10,918)|10,478| This page does not form part of the statutory financial statements Page 13