**REGISTERED CHARITY NUMBER: 1147686** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 29 February 2024** ## **for** ## **Tzedokah Vchesed** Martin+Heller 5 North End Road London NW11 7RJ **Tzedokah Vchesed** **Contents of the Financial Statements for the Year Ended 29 February 2024** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Notes to the Financial Statements**|6|to|10| |**Detailed Statement of Financial Activities**||11|| **Tzedokah Vchesed** ## **Report of the Trustees for the Year Ended 29 February 2024** The trustees present their report with the financial statements of the charity for the year ended 29 February 2024. 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** Mattes Katz P Benedikt ## **Independent Examiner** Mr A Heller FCA Martin+Heller 5 North End Road London NW11 7RJ Page 1 **Tzedokah Vchesed** **Report of the Trustees for the Year Ended 29 February 2024** 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 29 February 2024. ## **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 Martin+Heller 5 North End Road London NW11 7RJ Date: ............................................. Page 3 **Tzedokah Vchesed** ## **Statement of Financial Activities for the Year Ended 29 February 2024** ||||29.2.24|28.2.23| |---|---|---|---|---| ||||Unrestricted|| ||||fund|Total funds| ||Notes||£|£| |**INCOME AND ENDOWMENTS FROM**||||| |Donations and legacies||2|96,762|54,458| |**EXPENDITURE ON**||||| |**Charitable activities**||3||| |Donations paid|||110,888|33,609| |Other|||(172)|965| |**Total**|||110,716|34,574| |**NET INCOME/(EXPENDITURE)**|||(13,954)|19,884| |**RECONCILIATION OF FUNDS**||||| |Total funds brought forward|||19,884|-| |**TOTAL FUNDS CARRIED FORWARD**|||5,930|19,884| The notes form part of these financial statements Page 4 **Tzedokah Vchesed** ## **Balance Sheet 29 February 2024** ||||29.2.24|28.2.23| |---|---|---|---|---| ||||Unrestricted|| ||||fund|Total funds| ||Notes||£|£| |**CURRENT ASSETS**||||| |Cash at bank|||5,930|19,884| |**NET CURRENT ASSETS**|||5,930|19,884| |**TOTAL ASSETS LESS CURRENT**||||| |**LIABILITIES**|||5,930|19,884| |**NET ASSETS**|||5,930|19,884| |**FUNDS**||8||| |Unrestricted funds|||5,930|19,884| |**TOTAL FUNDS**|||5,930|19,884| 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** **Notes to the Financial Statements for the Year Ended 29 February 2024** ## **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 AND LEGACIES**||| |---|---|---| ||29.2.24|28.2.23| ||£|£| |Donations|96,762|54,458| Page 6 continued... **Tzedokah Vchesed** ## **Notes to the Financial Statements - continued for the Year Ended 29 February 2024** |**3.**
**CHARITABLE ACTIVITIES COSTS**
Donations paid
**4.**
**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:
Gemach Tzedokah Vchesed Israel
Amud Hatzdokoh Trust
Chevras Mo'oz Ladol
Mesifta Talmudical College
Mifal Hachesed Vehatzedokoh
Mosdos Hatorah Pnei Menachem Ltd
Other amounts < £1,500|29.2.24
£
110,888
29.2.24
£
55,236|29.2.24
£
110,888
29.2.24
£
55,236|Grant
funding of
activities
(see note
4)
£
110,888
28.2.23
£
33,609
28.2.23
£
20,465|Grant
funding of
activities
(see note
4)
£
110,888
28.2.23
£
33,609
28.2.23
£
20,465|Grant
funding of
activities
(see note
4)
£
110,888
28.2.23
£
33,609
28.2.23
£
20,465| |---|---|---|---|---|---| ||||||| ||||||| ||||||30,832| ||||||1,600| ||||||2,050| ||||||4,989| ||||||2,000| ||||||10,000| ||||||3,765| ||||||| ||||||| ||||||55,236| ||||||| ## **5. SUPPORT COSTS** |**SUPPORT COSTS**|| |---|---| ||Finance| ||£| |Other resources expended|(172)| continued... Page 7 **Tzedokah Vchesed** **Notes to the Financial Statements - continued for the Year Ended 29 February 2024** ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 29 February 2024 nor for the year ended 28 February 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 29 February 2024 nor for the year ended 28 February 2023. ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||||Unrestricted| |---|---|---|---| ||||fund| ||||£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies|||54,458| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Donations paid|||33,609| |Other|||965| |**Total**|||34,574| |**NET INCOME**|||19,884| |**TOTAL FUNDS CARRIED FORWARD**|||19,884| |**MOVEMENT IN FUNDS**|||| |||Net|| |||movement|| ||At 1/3/23|in funds|At 29/2/24| ||£|£|£| |**Unrestricted funds**|||| |General fund|19,884|(13,954)|5,930| |**TOTAL FUNDS**|19,884|(13,954)|5,930| ## **8. MOVEMENT IN FUNDS** continued... Page 8 **Tzedokah Vchesed** **Notes to the Financial Statements - continued for the Year Ended 29 February 2024** ## **8. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming|Incoming|Resources|Movement| |---|---|---|---| |resources||expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|96,762|(110,716)|(13,954)| |**TOTAL FUNDS**|96,762|(110,716)|(13,954)| |**Comparatives for movement in funds**|||| |||Net|| |||movement|| |At|1/3/22|in funds|At 28/2/23| ||£|£|£| |**Unrestricted funds**|||| |General fund|-|19,884|19,884| |**TOTAL FUNDS**|-|19,884|19,884| |Comparative net movement in funds, included in the above are as follows:|||| |Incoming||Resources|Movement| |resources||expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|54,458|(34,574)|19,884| |**TOTAL FUNDS**|54,458|(34,574)|19,884| |A current year 12 months and prior year 12 months combined position is as follows:|||| |||Net|| |||movement|| |At|1/3/22|in funds|At 29/2/24| ||£|£|£| |**Unrestricted funds**|||| |General fund|-|5,930|5,930| |**TOTAL FUNDS**|-|5,930|5,930| continued... Page 9 **Tzedokah Vchesed** **Notes to the Financial Statements - continued for the Year Ended 29 February 2024** ## **8. MOVEMENT IN FUNDS - continued** 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|151,220|(145,290)|5,930| |**TOTAL FUNDS**|151,220|(145,290)|5,930| ## **9. RELATED PARTY DISCLOSURES** Included in donations to individuals are several amounts totalling £1,842 paid to close relatives of a trustee. In this matter, the trustee concerned did not take part in the application process or the approval and continuation of the grants. Page 10 **Tzedokah Vchesed** ## **Detailed Statement of Financial Activities for the Year Ended 29 February 2024** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Grants to institutions
Grants to individuals
**Support costs**
**Finance**
Exchange rate variance
Total resources expended
**Net (expenditure)/income**|29.2.24
£
96,762
96,762
55,236
55,652
110,888
(172)
110,716
(13,954)|28.2.23
£
54,458| |---|---|---| |||54,458
20,465
13,144| |||33,609
965| |||34,574| |||19,884| This page does not form part of the statutory financial statements Page 11