CHARITY REGISTRATION NUMBER: 1192812
TORATH MOISHE VIZNITZ CLUB
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
31 DECEMBER 2021
HIRSH ACCOUNTANTS LIMITED
45 STAMFORD HILL LONDON N16 5SR
TORATH MOISHE VIZNITZ CLUB
TORATH MOISHE VIZNITZ CLUB 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
TORATH MOISHE VIZNITZ CLUB TRUSTEES ANNUAL REPORT
The trustees present their report with the unaudited financial statements of the charity for the period ended 31 December 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1192812
Principal and Registered Office
19 Watermint Quay Craven Walk London N16 6DN
Trustees
The following trustees served during the year:
Mr. G E Kornitzer Mr. C M Taub Mr. Y Y Tzin
Independent Examiner
Mr. M Hirsh FCCA
Hirsh Accountants Limited 45 Stamford Hill London
N16 5SR
OBJECTIVES AND ACTIVITIES
The charity's objectives are - The advancement of the Jewish faith for the benefit of the public in such ways as are exclusively charitable in English law and in particular but not exclusively by: a) providing or supporting in the provision of places for religious worship and education; and b) providing for the pastoral needs and welfare needs of the community and, particularly members of the Jewish community.
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 for the provision of and support of places of religious worship and Jewish education.
During the year the charity made grants totalling £5,000.
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 £5,726.
Grant Making Policy
The charity makes grants for the provision and support of places of religious worship and Jewish education.
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TORATH MOISHE VIZNITZ CLUB TRUSTEES ANNUAL REPORT
In making these grants the trustees use their personal knowledge and experience of the local community and its specific needs. The trustees monitor the application of funds by observation of the recipient institutions and regular verbal or written correspondence.
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 activities for the advancement of the Jewish faith, in particular but not exclusively through the support and provision of places for religious worship and Jewish education.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a registered charity (charity number 1192812) and is governed by a Constitution dated 16 December 2020.
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 19 Watermint Quay, Craven Walk, London, N16 6DN.
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 Constitution. 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. G E Kornitzer Trustee
30 October 2022
Page 3
TORATH MOISHE VIZNITZ CLUB INDEPENDENT EXAMINERS REPORT
Independent Examiner's Report to the Trustees of Torath Moishe Viznitz Club
I report to the trustees on my examination of the financial statements of Torath Moishe Viznitz Club for the period 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
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.
Mr. M Hirsh FCCA
Hirsh Accountants 45 Stamford Hill London N16 5SR 30 October 2022
Page 4
TORATH MOISHE VIZNITZ CLUB STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 31 DECEMBER 2021
| Notes Income and endowments from: Donations and legacies 2 Total Expenditure on: Charitable activities 3 Other 5 Total Net income Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds |
|---|---|---|
| 2021 | 2021 | |
| £ | £ | |
| 67,722 | 67,722 | |
| 67,722 | 67,722 | |
| 61,990 | 61,990 | |
| 6 | 6 | |
| 61,996 | 61,996 | |
| 5,726 | 5,726 | |
| - | - | |
| 5,726 | 5,726 | |
Page 5
TORATH MOISHE VIZNITZ CLUB BALANCE SHEET
AS AT 31 DECEMBER 2021
| Charity No. 1192812 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 7 Net current assets Total assets less current liabilities Total net assets The funds of the charity Unrestricted funds 8 General funds Total funds |
2021 £ 7,406 |
|---|---|
| 7,406 (1,680) |
|
| 5,726 5,726 |
|
| 5,726 | |
| 5,726 | |
| 5,726 | |
| 5,726 |
Approved by the trustees on 30 October 2022
And signed on their behalf by:
Mr. G E Kornitzer Trustee 30 October 2022
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TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS
FOR THE PERIOD 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 of 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 te charity's ability to continue in the future.
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 in the |
| expenditure | 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 which it |
| donations and gifts | relates. |
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TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be expenditure 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 costs and funds investment management costs.
Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and services in the charitable activities 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.
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.
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.
2 Income from donations and legacies
| Unrestricted £ 67,722 67,722 |
Total 2021 £ 67,722 |
|
|---|---|---|
| Donations | ||
| 67,722 |
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TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS
3 Expenditure on charitable activities
| Expenditure on charitable activities Rent Running Costs Grants made Governance costs Accountancy Fees 4 Analysis of grants Activity or programme Grants 5 Other expenditure General administrative costs |
Unrestricted £ 22,200 33,110 5,000 1,680 61,990 Grants to Institutions £ |
Total 2021 £ 22,200 33,110 5,000 1,680 61,990 Grants to Individuals £ |
Support Costs £ - - |
Total 2021 £ 5,000 |
|---|---|---|---|---|
| 5,000 | - | |||
| 5,000 Unrestricted £ 6 6 |
- Total 2021 £ 6 6 |
5,000 | ||
6 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.
7 Creditors:
| Creditors: | |
|---|---|
| amounts falling due within one year | 2021 £ |
| Accruals | 1,680 |
| 1,680 |
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TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS
8 Movement in funds
| 8 Movement in funds |
|||
|---|---|---|---|
| At 16 December 2020 Unrestricted funds: General funds - Total funds - 9 Analysis of net assets between funds Fixed assets |
Incoming resources (including other gains/losses) £ 67,722 67,722 Unrestricted funds £ - |
Resources expended £ (61,996) (61,996) Total £ - |
At 31 December 2021 £ 5,726 5,726 |
| Investments | - | - | |
| Net current assets Creditors due in more than one year and provisions |
5,726 - 5,726 |
5,726 - 5,726 |
10 Related party disclosures
There were no related party transactions during the period.
11 Limited liability
In the event of a wind-up, each member's liability is limited to £1.
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