**REGISTERED CHARITY NUMBER: 1181876**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 28 FEBRUARY 2021**
## **FOR**
## **ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
**ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|9|
|**Detailed Statement of Financial Activities**||10||
## **ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2021**
The trustees present their report with the financial statements of the charity for the year ended 28 February 2021. 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.
## **Significant activities**
During the period the charity received donations of £453,640 (2020 - £157,047) and made donations of £417,822 ( 2020 - £153,098). Donations totalling £104,350 were made to institutions overseas, and donations totalling £8,300 were made to UK Institutions. Grants totalling £305,172 were paid to individuals in financial hardship.
## **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.
## **Grantmaking**
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
## **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**
Zlotchiv is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission and governed by its constitution dated 5th February 2019.
## **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.
## **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**
1181876
## **Principal address**
8 Lemsford Close Grovelands Road London N15 6BY
Page 1
**ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2021**
**Trustees** G Gluck J Weisbart M Katz
## **Independent Examiner**
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 28 November 2021 and signed on its behalf by:
M Katz - Trustee
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION**
## **(C.I.O)**
**Independent examiner's report to the trustees of ZLOTCHIV CHARITABLE INCORPORATED**
## **ORGANISATION (C.I.O)**
I report to the charity trustees on my examination of the accounts of ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O) (the Trust) for the year ended 28 February 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of _ 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 Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
M A Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
28 November 2021
Page 3
## **ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2021**
|Year ended
28.2.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
453,640
**EXPENDITURE ON**
**Charitable activities**
General
420,822
Other
1,080
**Total**
421,902
**NET INCOME**
31,738
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
3,229
**TOTAL FUNDS CARRIED FORWARD**
34,967|Period
5.2.19
to
28.2.20
Total
funds
£
157,047
153,098
720
153,818
3,229
-
3,229|
|---|---|
The notes form part of these financial statements
Page 4
## **ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **BALANCE SHEET 28 FEBRUARY 2021**
|||28.2.21|28.2.20|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**CURRENT ASSETS**||||
|Cash at bank||36,047|3,949|
|**CREDITORS**||||
|Amounts falling due within one year|5|(1,080)|(720)|
|**NET CURRENT ASSETS**||34,967|3,229|
|**TOTAL ASSETS LESS CURRENT**||||
|**LIABILITIES**||34,967|3,229|
|**NET ASSETS**||34,967|3,229|
|**FUNDS**|6|||
|Unrestricted funds||34,967|3,229|
|**TOTAL FUNDS**||34,967|3,229|
|||||
The financial statements were approved by the Board of Trustees and authorised for issue on 28 November 2021 and were signed on its behalf by:
G Gluck - Trustee
J Weisbart - Trustee
The notes form part of these financial statements
Page 5
## **ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021**
## **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. GRANTS PAYABLE**
|**GRANTS PAYABLE**|||
|---|---|---|
|||Period|
|||5.2.19|
||Year ended|to|
||28.2.21|28.2.20|
||£|£|
|General|417,822|153,098|
Donations made to UK and overseas institutions were for the furtherance of orthodox Jewish education and for a medical organization.
|Magen Avrahan|£8,400|
|---|---|
|Machon Lehafatzat Mishpat Hatorah|£17,000|
|Mesamchei Hashabbos|£4,500|
|Talmud Torah Tiferes Bonim|£4,250|
|Nezer Yisroel|£9,500|
|Moreshet Bnei Levi|£3,250|
|Ani Itach|£4,200|
|Kehal Yisroel D'Chasidei Gur|£3,800|
continued...
Page 6
## **ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021**
## **2. GRANTS PAYABLE - continued**
|Kollelei Shivtei Reuven|£3,550|
|---|---|
|Talmud Torah Pnei Menachem|£5,950|
|Mekarvim Achim|£3,000|
|Maor Hachoshen|£20,000|
|Lomdim - Heichal Hatorah Vehachesed Hamercazi|£10,200|
|Collel Chibath Yerushalayim RMBH Trust|£4,000|
|Mosdos Or Yisroel Natan - Beit Shemesh|£3,400|
|Mosdos Yad Ezra|£3,650|
|Biala Synagogue Trust|£500|
|Medical Organisation||
|Chaverim Le'refua|£3,500|
|TOTAL DONATIONS TO INSTITUTIONS|£112,650|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 28 February 2021 nor for the period ended 28 February 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 28 February 2021 nor for the period ended 28 February 2020.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|157,047|
|**EXPENDITURE ON**||
|**Charitable activities**||
|General|153,098|
|Other|720|
|**Total**|153,818|
|**NET INCOME**|3,229|
|**TOTAL FUNDS CARRIED FORWARD**|3,229|
|||
continued...
Page 7
**ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021**
|**5.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**6.**
**MOVEMENT IN FUNDS**
At
29.2.20
£
**Unrestricted funds**
General fund
3,229
**TOTAL FUNDS**
3,229
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
453,640
**TOTAL FUNDS**
453,640
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
157,047
**TOTAL FUNDS**
157,047|28.2.21
28.2.20
£
£
1,080
720
Net
movement
At
in funds
28.2.21
£
£
31,738
34,967
31,738
34,967
Resources
Movement
expended
in funds
£
£
(421,902)
31,738
(421,902)
31,738
Net
movement
At
in funds
28.2.20
£
£
3,229
3,229
3,229
3,229
Resources
Movement
expended
in funds
£
£
(153,818)
3,229
(153,818)
3,229|
|---|---|
continued...
Page 8
## **ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2021**
## **7. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 28 February 2021.
Page 9
## **ZLOTCHIV CHARITABLE INCORPORATED ORGANISATION (C.I.O)**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2021**
|**FOR THE YEAR ENDED**|**28 FEBRUARY 2021**||
|---|---|---|
|||Period|
|||5.2.19|
||Year ended|to|
||28.2.21|28.2.20|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|453,640|157,047|
|**Total incoming resources**|453,640|157,047|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Office rent|3,000|-|
|Grants to institutions|112,650|24,640|
|Grants to individuals|305,172|128,458|
|**Support costs**|420,822|153,098|
|**Governance costs**|||
|Accountancy and legal fees|1,080|720|
|Total resources expended|421,902|153,818|
|**Net income**|31,738|3,229|
This page does not form part of the statutory financial statements
Page 10