**CHARITY REGISTRATION NUMBER: 1153006** ## **British Friends of Chatzer Hakodesh Viznitz Unaudited Financial Statements** **31 December 2020** ## **A J BRACEINER FCA** Chartered Accountants Park House Russell Gardens London NW11 9NJ **British Friends of Chatzer Hakodesh Viznitz** ## **Financial Statements** ## **Year ended 31 December 2020** ||**Page**| |---|---| |Trustees' annual report|**1**| |Independent examiner's report to the trustees|**3**| |Statement of financial activities|**4**| |Statement of financial position|**5**| |Statement of cash flows|**6**| |Notes to the financial statements|**7**| **British Friends of Chatzer Hakodesh Viznitz** ## **Trustees' Annual Report** ## **Year ended 31 December 2020** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2020. ## **Reference and administrative details** **Registered charity name** British Friends of Chatzer Hakodesh Viznitz **Charity registration number** 1153006 **Principal office** 23B Linthorpe Road London N16 5RF **The trustees** Mr C I Sharf Mr N Taub Mr Y Lieber **Independent examiner** Abraham J Braceiner FCA Park House Russell Gardens London NW11 9NJ ## **Structure, governance and management** ## Structure The charity is governed by a Trust Deed dated 16th April 2013. ## Governance and management The Trust Deed provides for a minimum of three trustees. Were there a requirement for new trustees, thsese would be identified and appointed by the existing trustees ## **Objectives and activities** ## Objectives 1. The prevention or relief of poverty, in particular but not exclusively in Israel, by providing grants, items and services to individuals in need and/or charities or other organisations working to prevent or relieve poverty. 2. To promote any other exclusively charitable objects and purposes as the trustees see fit, provided that they are regarded as charitable by the law of England and Wales. ## Activities The charity has continued to make grants to institutions and individuals. ## Public benefit The trustees have considered the Charity Commission's guidance on public benefit and consider that the charity conforms with them. **1** ## **British Friends of Chatzer Hakodesh Viznitz** **Trustees' Annual Report** _**(continued)**_ ## **Year ended 31 December 2020** ## **Achievements and performance** The charity has distributed the majority of its income in advancement of its objectives. ## **Financial review** It is the policy of the trustees to distribute all funds received within a short period of receipt. The trustees' annual report was approved on 11 November 2021 and signed on behalf of the board of trustees by: Mr Y Lieber Trustee **2** ## **British Friends of Chatzer Hakodesh Viznitz** ## **Independent Examiner's Report to the Trustees of British Friends of Chatzer Hakodesh Viznitz** ## **Year ended 31 December 2020** I report to the trustees on my examination of the financial statements of British Friends of Chatzer Hakodesh Viznitz ('the charity') for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’). 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** Since 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 because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. 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 charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or 3. the financial statements 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. Abraham J Braceiner FCA Independent Examiner Park House Russell Gardens London NW11 9NJ 11 October 2021 **3** **British Friends of Chatzer Hakodesh Viznitz** ## **Statement of Financial Activities** ## **Year ended 31 December 2020** |||**2020**|**2020**|2019| |---|---|---|---|---| |||Unrestricted||| |||funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Donations and legacies|**4**|504,573|504,573|246,119| |||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ| |**Total income**||504,573|504,573|246,119| |||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶| |**Expenditure**||||| |Expenditure on charitable activities||465,570|465,570|251,766| |||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ| |**Total expenditure**||465,570|465,570|251,766| |||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶| |||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ| |**Net income/(expenditure) and net movement in funds**||39,003|39,003|(5,647)| |||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶| |**Reconciliation of funds**||||| |Total funds brought forward||74|74|5,721| |||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ| |**Total funds carried forward**||39,077|39,077|74| |||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 7 to 10 form part of these financial statements.** **4** ## **British Friends of Chatzer Hakodesh Viznitz** ## **Statement of Financial Position** ## **31 December 2020** |||**2020**|2019| |---|---|---|---| ||**Note**|**£**|£| |**Current assets**|||| |Cash at bank and in hand||39,077|74| |||ৄৄৄৄৄৄৄৄ|ৄৄৄৄ| |**Net current assets**||39,077|74| |||ৄৄৄৄৄৄৄৄ|ৄৄৄৄ| |**Total assets less current liabilities**||39,077|74| |||৶৶৶৶৶৶৶৶|৶৶৶৶| |**Funds of the charity**|||| |Unrestricted funds||39,077|74| |||ৄৄৄৄৄৄৄৄ|ৄৄৄৄ| |**Total charity funds**|**7**|39,077|74| |||৶৶৶৶৶৶৶৶|৶৶৶৶| These financial statements were approved by the board of trustees and authorised for issue on 11 November 2021, and are signed on behalf of the board by: Mr Y Lieber Trustee **The notes on pages 7 to 10 form part of these financial statements.** **5** ## **British Friends of Chatzer Hakodesh Viznitz** ## **Statement of Cash Flows** ## **Year ended 31 December 2020** ||**2020**|2019| |---|---|---| ||**£**|£| |**Cash flows from operating activities**||| |Net income/(expenditure)|39,003|(5,647)| |_Adjustments for:_||| ||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |Cash generated from operations|39,003|(5,647)| ||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |Net cash from/(used in) operating activities|39,003|(5,647)| ||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| |**Net increase/(decrease) in cash and cash equivalents**|39,003|(5,647)| |**Cash and cash equivalents at beginning of year**|74|5,721| ||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |**Cash and cash equivalents at end of year**|39,077|74| ||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| **The notes on pages 7 to 10 form part of these financial statements.** **6** **British Friends of Chatzer Hakodesh Viznitz** ## **Notes to the Financial Statements** ## **Year ended 31 December 2020** ## **1. General information** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 28B Linthorpe Road, London, N16 5RF. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. **7** **British Friends of Chatzer Hakodesh Viznitz** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 December 2020** **3. Accounting policies** _**(continued)**_ ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **4. Donations and legacies** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2020**|Funds|2019| ||£|**£**|£|£| |**Donations**||||| |Donations|504,573|504,573|246,119|246,119| ||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶| **8** ## **British Friends of Chatzer Hakodesh Viznitz** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 December 2020** ## **5. Analysis of grants** ||2020| |---|---| |Rebbe Meir Baal Haness Charities|78,770| |Haim Bechesed|68,000| |Hatzer Hakodesh Viznitz|63,139| |Mercaz Briut Jerusalem|35,000| |Yedidei Tiferet Beit Wiznitz|28,002| |Mercaz Chasidei Wiznitz|20,000| |Kupat Hamalchis|12,525| |Kollel Yeshuas Chaim|12,500| |Chasdei Yitzchak|10,000| |Sundry grants (under £6,000)|132,633| ||ৄৄৄৄৄৄৄৄৄ| ||460,569| ||৶৶৶৶৶৶৶৶৶| The charity is affiliated to the Mercaz Chasidei Wiznitz institutions in the UK and overseas. All grants and donations are made in accordance with the objectives of the charity. ## **6. Trustee remuneration and expenses** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. ## **7. Analysis of charitable funds** ## **Unrestricted funds** ||At|||**At**| |---|---|---|---|---| |1|January 202||**31 December**|| ||0|Income|Expenditure|**2020**| ||£|£|£|£| |General funds|74|504,573|(465,570)|39,077| ||৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶| ||At|||At| |1|January 201||31 December|| ||9|Income|Expenditure|2019| ||£|£|£|£| |General funds|5,721|246,119|(251,766)|74| ||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶| |**Analysis of net assets between funds**||||| ||||Unrestricted|**Total Funds**| ||||Funds|**2020**| ||||£|**£**| |Current assets|||39,077|39,077| ||||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶| ||||Unrestricted|Total Funds| ||||Funds|2019| ||||£|£| |Current assets|||74|74| ||||৶৶৶৶|৶৶৶৶| ## **8. Analysis of net assets between funds** **9** ## **British Friends of Chatzer Hakodesh Viznitz** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 December 2020** ## **9. Analysis of changes in net debt** |||||||**At**| |---|---|---|---|---|---|---| ||At|1|Jan|2020|Cash flows|**31 Dec 2020**| |||||£|£|**£**| |Cash at bank and in hand||||74|39,003|39,077| |||||৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶| **10**