REGISTERED CHARITY NUMBER: 1174116
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
FOR
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Statement of Financial Position | 4 | ||
| Notes to the Financial Statements | 5 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
The trustees present their report with the financial statements of the charity for the year ended 30 April 2023. 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 advancement of the Orthodox Jewish religion,Orthodox Jewish education and education in general. The relief of poverty, sickness and infirmity for the public benefit.
Public benefit
The trustees confirm that they have referred to the guidance contained in the charity commission's general guidance on public benefit when reviewing the charity's aim and objectives and in planning future activities and setting the grant making policy for the year.
The charity was set up to support the activities of religious Jewish organisations especially in the field of education. The trustees identify institutions and organisations which meet its criteria and regularly support a number of these institutions and organisations, which themselves are growing not only in England but also worldwide.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity received donations totalling £10,000 (2022 - £10,000). Grants to other charities amounted to £12,000 (2022 - £10,000).
FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the working capital of the charity.
FUTURE PLANS
There are no current plans to change the activities or modus operandi in the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission and governed by its constitution dated 3rd August 2017.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Related parties
During the year charity received donation from Silverace Properties Ltd.,
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1174116
Page 1
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
Principal address 64 Fairholt Road London N16 5HN
Trustees
G BENEDIKT MRS M SPIRA S SPIRA
Approved by order of the board of trustees on 23 February 2024 and signed on its behalf by:
G BENEDIKT - Trustee
Page 2
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023
| 30.4.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 10,000 EXPENDITURE ON Charitable activities Advancement of Education 12,000 Other 540 Total 12,540 NET INCOME/(EXPENDITURE) (2,540) RECONCILIATION OF FUNDS Total funds brought forward 129,884 TOTAL FUNDS CARRIED FORWARD 127,344 |
30.4.22 Total funds £ 10,000 10,000 540 10,540 (540) 130,424 129,884 |
|---|---|
The notes form part of these financial statements
Page 3
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
STATEMENT OF FINANCIAL POSITION 30 APRIL 2023
| 30.4.23 Unrestricted fund Notes £ CURRENT ASSETS Investments 4 124,559 Cash at bank 3,325 127,884 CREDITORS Amounts falling due within one year 5 (540) NET CURRENT ASSETS 127,344 TOTAL ASSETS LESS CURRENT LIABILITIES 127,344 NET ASSETS 127,344 FUNDS 6 Unrestricted funds 127,344 TOTAL FUNDS 127,344 |
30.4.22 Total funds £ 124,559 5,865 130,424 (540) 129,884 129,884 129,884 129,884 129,884 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 23 February 2024 and were signed on its behalf by:
M SPIRA - Trustee
S SPIRA - Trustee
The notes form part of these financial statements
Page 4
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
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. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022.
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continued...
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023
| 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Advancement of Education Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. CURRENT ASSET INVESTMENTS Unlisted investments OV Voaim Charity is the 100% shareholder of Silverace Properties Ltd. 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 6. MOVEMENT IN FUNDS At 1.5.22 £ Unrestricted funds General fund 129,884 TOTAL FUNDS 129,884 |
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Advancement of Education Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. CURRENT ASSET INVESTMENTS Unlisted investments OV Voaim Charity is the 100% shareholder of Silverace Properties Ltd. 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 6. MOVEMENT IN FUNDS At 1.5.22 £ Unrestricted funds General fund 129,884 TOTAL FUNDS 129,884 |
30.4.23 £ 124,559 30.4.23 £ 540 Net movement in funds £ (2,540) (2,540) |
Unrestricted fund £ 10,000 10,000 540 10,540 (540) 130,424 129,884 30.4.22 £ 124,559 30.4.22 £ 540 At 30.4.23 £ 127,344 127,344 |
|---|---|---|---|
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continued...
OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 10,000 | (12,540) | (2,540) |
| TOTAL FUNDS | 10,000 | (12,540) | (2,540) |
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.5.21 £ 130,424 130,424 |
Net movement in funds £ (540) (540) |
At 30.4.22 £ 129,884 |
|---|---|---|---|
| 129,884 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 10,000 | (10,540) | (540) |
| TOTAL FUNDS | 10,000 | (10,540) | (540) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.5.21 £ 130,424 130,424 |
Net movement in funds £ (3,080) (3,080) |
At 30.4.23 £ 127,344 |
|---|---|---|---|
| 127,344 |
continued...
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OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023
6. 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 | 20,000 | (23,080) | (3,080) |
| TOTAL FUNDS | 20,000 | (23,080) | (3,080) |
7. RELATED PARTY DISCLOSURES
During the year the charity received donations from Silverace Properties Ltd in which the charity is the 100% shareholder.
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OV VOAIM CHARITY CHARITY INCORPORATED ORGANISATION (C.I.O)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023
| 30.4.23 | 30.4.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 10,000 | 10,000 |
| Total incoming resources | 10,000 | 10,000 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 12,000 | 10,000 |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 540 | 540 |
| Total resources expended | 12,540 | 10,540 |
| Net expenditure | (2,540) | (540) |
This page does not form part of the statutory financial statements
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