OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← British Friends Of Chatzer Hakodesh Viznitz

2024-10-31-accounts

Charity registration number 1153006

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees N Taub L Ganz C I Sharf Charity number 1153006 Independent examiner CHS Accountants Limited Lower Ground Floor, 13 High Road London N15 6LT

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent examiner's report 4
Statement of financial activities 5
Statement of financial position 6
Statement of cash flows 7
Notes to the financial statements 8 - 14

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

TRUSTEES' REPORT

FOR THE PERIOD ENDED 31 OCTOBER 2024

The trustees present their annual report and financial statements for the period ended 31 October 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities Act 2011 and "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

The charity's objectives are:

  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.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Grant making policy

The charity makes grants to 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 grants.

Achievements and performance

Significant activities and achievements against objectives

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 £579,904 (2023: £796,557).

Financial review

The financial results for the year to 31 October 2024 are fully reflected in the attached Financial Statements and the Notes thereon.

As at 31 October 2024, the charity had a deficit of reserves of £13,917. This deficit is expected to be reversed in the coming year through further donation income.

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.

Major risks

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.

Structure, governance and management

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

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2024

The trustees who served during the year and up to the date of signature of the financial statements were: N Taub

L Ganz

C I Sharf

Recruitment and appointment of trustees

New trustees are appointed based on personal competence, specialist skill, knowledge and availability.

Organisational structure

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

The trustees' report was approved by the Board of Trustees.

N Taub Trustee

27 August 2025

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE PERIOD ENDED 31 OCTOBER 2024

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

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 (the charity) for the period ended 31 October 2024.

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 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Pini Shebson ACA

CHS Accountants Limited Lower Ground Floor, 13 High Road London N15 6LT

Dated: 27 August 2025

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE PERIOD ENDED 31 OCTOBER 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 966,974 933,904
Total income 966,974 933,904
Expenditure on:
Raising funds 4 65,273 57,943
Charitable activities 5 920,241 982,018
Total expenditure 985,514 1,039,961
Net expenditure and movement in funds (18,540) (106,057)
Reconciliation of funds:
Fund balances at 1 January 2024 4,623 110,680
Fund balances at 31 October 2024 (13,917) 4,623

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2024

2024 2023
Notes £ £ £ £
Current assets
Trade and other receivables 12 12,596 10,596
Cash at bank and in hand 8,287 28,427
20,883 39,023
Current liabilities 13 (34,800) (34,400)
Net current (liabilities)/assets (13,917) 4,623
The funds of the charity
Unrestricted funds 14 (13,917) 4,623
(13,917) 4,623

The financial statements were approved by the trustees on 27 August 2025

N Taub Trustee

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 OCTOBER 2024

2024 2023
Notes £ £ £ £
Cash flows from operating activities
Cash absorbed by operations 16 (20,140) (36,432)
Net cash used in investing activities - -
Net cash used in financing activities - -
Net decrease in cash and cash equivalents (20,140) (36,432)
Cash and cash equivalents at beginning of year 28,427 64,859
Cash and cash equivalents at end of year 8,287 28,427

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024

1 Accounting policies

Charity information

British Friends of Chatzer Hakodesh Viznitz is a registered charity, governed by its Trust Deed dated 16 April 2013.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Trust Deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2024

1 Accounting policies

(Continued)

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 966,974 933,904

4 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Advertising 582 137
Other fundraising costs 64,691 57,806
65,273 57,943

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2024

5 Expenditure on charitable activities

Unrestricted Unrestricted
Funds Funds
2024 2023
£ £
Direct costs
General charitable activities 111,904 -
Food provision 137,339 100,554
Communal events 85,101 79,674
334,344 180,228
Grant funding of activities (see note 6) 579,904 796,557
Share of support and governance costs (see note 7)
Support 3,593 3,233
Governance 2,400 2,000
920,241 982,018
Analysis by fund
Unrestricted funds 920,241 982,018
6 Grants payable
Total Funds
2024
£
Grants to institutions:
Kollel Tzemach Tzedek Chaim Bechesed 98,196
Moreshet Permishlan 36,500
Kedushas Aharon 35,000
Chasdai Yitczhak 30,000
Kupat Hamalchus 24,720
Shalom Bnaieha Bet Shemesh 18,901
Grants under £10,000 38,921
282,238
Grants to individuals 297,666
579,904

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2024

7 Support costs allocated to activities

Bank fees
General administrative costs
Governance costs
Analysed between:
Charitable activities
Governance costs comprise:
Independent examiner fees
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements		 2024
£
2,871
722
2,400
5,993
5,993
2024
£
2,400
2,400
2024
£
2,400		 2023
£
2,968
265
2,000
5,233
5,233
2023
£
2,000
2,000
2023
£
2,000

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2024

12 Trade and other receivables

12
Trade and other receivables
Amounts falling due within one year:
Other debtors
13
Current liabilities
Other creditors
Accruals and deferred income		 2024
£
12,596
2024
£
30,000
4,800
34,800		 2023
£
10,596
2023
£
30,000
4,400
34,400

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
General funds
Previous year:
At
General funds		 1 January
2024

£
4,623
1 January
2023

£
110,680		 Incoming
resources
Resources
expended
At 31 October
2024
£
£
£
966,974
(985,514)
(13,917)
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
933,904
(1,039,961)
4,623

15 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

BRITISH FRIENDS OF CHATZER HAKODESH VIZNITZ

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 OCTOBER 2024

16
Cash generated from operations
Deficit for the year
Movements in working capital:
(Increase)/decrease in trade and other receivables
Increase in trade and other payables
Cash absorbed by operations
17
Analysis of changes in net funds		 2024
2023
£
£
(18,540)
(106,057)
(2,000)
37,625
400
32,000
(20,140)
(36,432)

The charity had no material debt during the year.