2021-12-31-accounts - British Friends Of Chatzer Hakodesh Viznitz

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CHARITY REGISTRATION NUMBER: 1153006

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

TRUSTEES' REPORT AND UNAUDITED ACCOUNTS

31 DECEMBER 2021

HIRSH ACCOUNTANTS LIMITED

45 STAMFORD HILL LONDON N16 5SR

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ CHARITABLE TRUST FINANCIAL STATEMENTS 31 DECEMBER 2021

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Accounts	7

Page 1

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ TRUSTEES ANNUAL REPORT

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1153006

Principal and Registered Office

28B Linthorpe Road London N16 5RF

Trustees

The following trustees served during the year:

Y. Lieber (Resigned 9 February 2022) C.I. Sharf N. Taub

Accountants

Hirsh Accountants Limited 45 Stamford Hill London N16 5SR

OBJECTIVES AND ACTIVITIES

The charity's objectives are the prevention and relief of poverty

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 events.

ACHIEVEMENTS AND PERFORMANCE

The charity employs its funds and resources primarily for the benefit of the Viznitz community in the UK and overseas.

During the year the charity made grants totalling £379,772 (2020: £460,570).

The financial results for the year to 31 December 2021 are fully reflected in the attached Financial Statements and the Notes thereon.

FINANCIAL REVIEW

Reserves Policy

The charity's policy is to maintain Unrestricted funds at a level which the trustees deem appropriate after considering future commitments and the likely costs for the next year.

As at 31 December 2021 the charity had Unrestricted Funds of £51,923.

Grant Making Policy

The charity makes grants individuals and organisations in the UK and overseas, primarily associated with the Viznitz community, in furtherance of its stated charitable objectives.

In making these grants the trustees use their personal knowledge and experience of the Viznitz communities worldwide. The trustees monitor the application of funds by regular contact with recipients and a thorough understanding of the recipients and their needs prior to making the grants.

Page 2

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ TRUSTEES ANNUAL REPORT

PRINCIPAL RISKS AND UNCERTAINTIES

Risk Management

The trustees have identified and reviewed the major risks to which the charity is exposed, in particular operational and financial risks and are satisfied that appropriate systems are in place to manage and mitigate these risks.

PLANS FOR FUTURE PERIODS

The charity plans to continue its grant making activities.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a registered charity (charity number 1153006) and is governed by a Trust Deed dated 16 April 2013.

The trustees administer the day-to-day affairs of the charity. None of the Trustees have beneficial interest in the charity.

STATEMENT OF COMPLAINCE

The charity is a public benefit entity, a registered charity in England and Wales and is unincorporated. The address of the principal office is 23B Linthorpe Road, London, N16 5RF.

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).

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

Mr N. Taub

Trustee

30 October 2022

Page 3

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ INDEPENDENT EXAMINERS REPORT

Independent Examiner's Report to the trustees of BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

I report to the trustees on my examination of the financial statements of British Friends of Chatzer Hakodesh Viznitz for the year ended 31 December 2021 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 Association of Chartered Certified 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.

Moshe Hirsh FCCA Hirsh Accountants Limited 45 Stamford Hill London N16 5SR 30 October 2022

Page 4

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted funds	Total funds	Total funds
2021	2021	2020
£	£	£

396,995	396,995	504,573
396,995	396,995	504,573

-	-	5,000
382,922	382,922	460,570
1,227	1,227	-
384,149	384,149	465,570

12,846	12,846	39,003
-	-	-
12,846	12,846	39,003


39,077	39,077	74
51,923	51,923	39,077

Page 5

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ BALANCE SHEET

AS AT 31 DECEMBER 2021

Charity No. 1153006

AS AT 31 DECEMBER 2021
Charity No. 1153006 Current assets Debtors 10 Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Total net assets The funds of the charity Unrestricted funds 12 General funds Designated funds Total funds	2021 £ 30,000 24,323 54,323 (2,400) 51,923 51,923 51,923 51,923 - 51,923	2020 £ - 39,077
		39,077 -
		39,077 39,077
		39,077
		39,077 -
		39,077

Approved by the trustees on 30 October 2022

And signed on their behalf by:

Mr N. Taub Trustee 30 October 2022

Page 6

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

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.

Going Concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

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	Income is included in the Statement of Financial Activities (SoFA) when the charity
	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 reported gross
expenditure	in the SoFA.
Donations and legacies	Voluntary income received by way of grants, donations and gifts is included in the 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 gift/donation to
donations and gifts	which it relates.
Donated services and	These are only included in income (with an equivalent amount in expenditure) where the
facilities	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 revaluation of fixed	This includes any gain or loss resulting from revaluing investments to market value 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

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ NOTES TO THE ACCOUNTS

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot expenditure be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure on raising These comprise the costs associated with attracting voluntary income, fundraising trading funds costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and services charitable activities 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.

Tangible fixed assets and depreciation

Depreciation where relevant is provided in order to write off each asset over its estimated useful life.

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.

Intangible fixed assets and amortisation

Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.

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.

Page 8

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ NOTES TO THE ACCOUNTS

3 Income from donations and legacies

				Unrestricted	Restricted	Endowment	Total	Total
							2021	2020
				£	£	£	£	£
	Donations Received			396,995	-	-	396,995	504,573
				396,995	-	-	396,995	504,573
4	Expenditure on charitable activities
				Unrestricted	Restricted	Endowment	Total	Total
							2021	2020
				£	£	£	£	£
	Expenditure	on	charitable
	activities
	Grants made			379,772	-	-	379,772	460,570
	Governance costs			3,150	-	-	3,150	-
				382,922	-	-	382,922	460,570
5	Analysis of grants
				Grants to	Grants to	Support
	Activity or programme			Institutions	Individuals	Costs	Total	Total
							2021	2020
				£	£	£	£	£
	Grants			206,912	172,860	3,150	382,922	460,570
				206,912	172,860	3,150	382,922	460,570

All grants were made in furtherance of the charity's objectives. The composition of the grants is as follows.

Merkaz Chasidei Viznitz Elad Merkaz Briut Kehilatim Jerusalem Friends of Tiferet Beit Wiznitz Hatzer Hakodesh Witznitz Misc. Grants (less than £10,000)	2021 £ 104,000 25,400 25,100 12,860 212,412
	379,772

6 Other expenditure

Other expenditure
General administrative costs	Unrestricted £ 1,227 1,227	Restricted £ - -	Endowment £ - -	Total 2021 £ 1,227 1,227	Total 2020 £ -
					-

Page 9

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ NOTES TO THE ACCOUNTS

7 Net income before transfers

2021

This is stated after charging: £ Independent Examiner's fee 2,400

8 Trustee remuneration and expenses

None of the trustees have been paid any remuneration in the current or prior periods.

None of the trustees have been paid any expenses in the current or prior periods.

9 Staff costs

No employee received emoluments in excess of £60,000.

10 Debtors

Debtors
Other debtors Prepayments and accrued income	2021 £ 30,000 - 30,000	2020 £ - -
		-

11 Creditors:

amounts falling due within one year

	2021 £	2020 £
Accruals	2,400	-
	2,400	-

12 Unrestricted funds:

At 1 January 2021 £ General funds 39,077 Total funds 39,077 Analysis of net assets between funds Net current assets	Income £ 396,995 396,995 Unrestricted funds £ 51,923 51,923	Expenditure £ (384,149) (384,149) Restricted funds £ - -	Fund Transfer £ - - Endowment funds £ - -	At 31 December 2021 £ 51,923
				51,923
				Total £ 51,923
				51,923

13 Analysis of net assets between funds

14 Limited Liability

In the event of a wind-up, each member's liability is limited to £1.

Page 10

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ NOTES TO THE ACCOUNTS

15 Related party disclosures

The charity is associated with Viznitz community institutions in the UK and overseas.

Page 11