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2022-05-31-accounts

CHARITY REGISTRATION NUMBER: 1161593

Zichron Shmuel CIO

Unaudited Financial Statements FOR THE YEAR ENDED 31 May 2021

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Zichron Shmuel CIO
Financial Statements
FOR THE YEAR ENDED 31 May 2021
CONTENTS PAGE
Trustees' annual report 1
Statement of financial activities (including
income and expenditure account) 2
Statement of financial position 3
Notes to the financial statements 4

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Zichron Shmuel CIO FOR THE YEAR ENDED 31 May 2021 Trustees' annual report

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 May 2021.

Reference and administrative details

Registered charity name Zichron Shmuel CIO Charity registration number 1161593 Principal office 1117 Finchley Rd London NW11 0QB

The trustees Mr A Bendahan Mr J Benhamou Mr G Clark

Structure, governance and management

The Zichron Shmuel CIO is registered as a charity with the Charity Commission and was established on 11 May 2019. The Trustees have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. Each year the Trustees review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review, the Trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

The appointment and recruitment of new Trustees is as laid out in the Trust Deed. New Trustees would be trained as deemed appropriate.

The charity's Trust Deed authorises the Trustees to make and hold investments.

Public Benefit

Each year the trusties review their objectives and activities to ensure that they continue to reflect the trustees aims. In carrying out their review the trusties have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public benefit guidance with specific crag to the advancement of the Orthodox Jewish Religion and all of its facets for the public benefit.

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FOR THE YEAR ENDED 31 May 2021 Trustees' annual report

Zichron Shmuel CIO

Objectives and activities

The principal objectives of the charity throughout the period has been:

1) The relief of financial hardship amongst persons of the Jewish faith who are in need and live in the United Kingdom, France and Israel.

4) The relief of poverty, sickness and infirmity amongst members of the Jewish faith and such other purposes as are charitable according to English Law.

Achievements and performance

The charity is organised so that the trustees meet regularly to manage its affairs. There are no paid employees and all administration work is carried out on a voluntary basis by the trustees.

Financial review

During the year, the charity's funds have been applied in furtherance of its objectives and the day to day running of the charity.

In the year to 31 May 2021, incoming resources amounted to £11,020 and resources expended amounted to £10,571.

At 31 May 2021, the charity had a total unrestricted fund balance of £1,882. There have been no changes in the accounting policies of the charity during the year.

Plans for future periods

The trustees intend to continue performing at similar levels to the current period which has been most satisfactory.

The trustees' annual report was approved on 5 May 2026 and signed on behalf of the board of trustees by:

Mr J Benhamou Trustee

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Zichron Shmuel CIO

FOR THE YEAR ENDED 31 May 2021 Statement of financial activities (including income and expenditure account)

come and expenditure account) come and expenditure account) come and expenditure account) come and expenditure account)
2021
2020
Total funds
Unrestricted
funds
£
£
11,020
11,020
8,366
-
-
-
11,020
11,020
8,366
10,571
10,571
6,933
10,571
10,571
6,933
449
449
1,433
1,433
1,433
-
1,882
1,882
1,433
Total funds
(
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(
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(
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Income and endowments
Notes
2
Total income
Expenditure
Total expenditure
Total funds carried forward
Net income/(expenditure)
Donations and legacies
Investment income
Expenditure on charitable activities
Reconciliation of funds		 Unrestricted
funds
£
11,020
-
11,020
10,571
10,571
449
1,433
1,882
(
)
(
)
(
)
(
)
(
)
(
)
(
)
(
)		 2021 Total funds
11,020
-
11,020
10,571
10,571
449
1,433
1,882
(
)
(
)
(
)
(
)
(
)
(
)
(
)
(
)		 2020
£
8,366
-
Total funds
(
)
(
)
8,366
(
)
6,933
(
)
6,933
(
)
1,433
-
(
)
(
)
1,433
(
)

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

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Zichron Shmuel CIO FOR THE YEAR ENDED 31 May 2021 Statement of financial position

Notes
Current assets
Creditors: ammounts falling due within one year
Net current assets
Total assets less current liabilities
NET ASSETS
Funds of the charity
Cash at bank and in hand
Unrestricted funds
Total charity funds		 2021
1,882
1,882
-
1,882
1,882
£
1,882
1,882
£
1,882
(
)
(
)
(
)
(
)
(
)
(
)
(
)
(
)		 2020
1,433
(
)
1,433
-
1,433
(
)
(
)
(
)
1,433
(
)
£
1,433
(
)
1,433
(
)
£
1,433
(
)

These financial statements were approved by the board of trustees and authorised for issue on 5 May 2026, and are signed on behalf of the board by:

Mr J Benhamou

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Zichron Shmuel CIO

Notes to the accounts for the year ended 31 May 2021

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 1117 Finchley Rd, London, NW11 0QB.

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 Companies Act 2006.

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.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

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.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Zichron Shmuel CIO

Notes to the accounts for the year ended 31 May 2021

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 and events.

• 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.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

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Zichron Shmuel CIO

Notes to the accounts for the year ended 31 May 2021

4
Donations and legacies
Donations
Unrestricted
funds
£
Donations
11,020
(
)		 Total funds
£
Unrestricted
funds
Total funds
£
£
11,020
8,366
8,366
2021
2020
(
)
(
)
(
)

5 Expenditure on charitable activites by fund type

Charitable activity
Support costs		 £
10,571
0
Unrestricted		 Total funds
2021
£
Total funds
2020
£
£
10,571
6,933
0
0
Unrestricted
6,933
0
10,571 10,571
6,933
6,933

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 Creditors: ammounts falling due within one year

Creditors: ammounts falling due within one year
2021 2020
£ £
Accurals and deferred income 0 0
0 0

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