**CHARITY REGISTRATION NUMBER: 1192812**
## **TORATH MOISHE VIZNITZ CLUB**
## **TRUSTEES' REPORT AND UNAUDITED ACCOUNTS**
## **31 DECEMBER 2022**
## **HIRSH ACCOUNTANTS LIMITED**
45 STAMFORD HILL LONDON N16 5SR
**TORATH MOISHE VIZNITZ CLUB**
## **TORATH MOISHE VIZNITZ CLUB CHARITABLE TRUST FINANCIAL STATEMENTS 31 DECEMBER 2022**
||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 year ended 31 December 2022.
## **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:
Chaim Meir Taub Gershon Eliezer Kornitzer Yehuda Yehoshua Tzin
## **Independent Examiners**
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. The charity also provides food for needy students and people from the community.
During the year the charity made grants totalling £3,000 (2021: £5,000).
The financial results for the year to 31 December 2022 are fully reflected in the attached Financial Statements and the Notes thereon.
## **FINANCIAL REVIEW**
## **Reserves Policy**
The charitys 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 2022 the charity had Unrestricted Funds of £9,156.
## **Grant Making Policy**
The charity makes grants for the provision and support of places of religious worship and Jewish education.
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 he recipient institutions and regular verbal or written correspondence.
Page 2
**TORATH MOISHE VIZNITZ CLUB TRUSTEES ANNUAL REPORT**
## **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 Trust Deed 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's trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (SORP).
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 Trust deed. 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
G E Kornitzer Trustee
31 October 2023
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 year ended 31 December 2022 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**
For and on behalf of Hirsh Accountants Limited
45 Stamford Hill
London N16 5SR 31 October 2023
Page 4
**TORATH MOISHE VIZNITZ CLUB STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Notes**
**Income and endowments from:**
Donations and legacies
2
**Total**
**Expenditure on:**
Raising funds
3
Charitable activities
4
Other
6
**Total**
**Net income**
**Reconciliation of funds:**
Total funds brought forward
12
**Total funds carried forward**|**Unrestricted**
**funds**|**Total funds**|**Total funds**|
|---|---|---|---|
||**2022**|**2022**|**2021**|
||**£**|**£**|**£**|
|||||
||193,278|193,278|67,722|
||193,278|193,278|67,722|
|||||
||7,683|7,683|-|
||179,402|179,402|61,990|
||2,763|2,763|6|
||189,848|189,848|61,996|
||3,430|3,430|5,726|
|||||
||5,726|5,726|-|
||9,156|9,156|5,726|
|||||
|||||
|||||
Page 5
**TORATH MOISHE VIZNITZ CLUB BALANCE SHEET**
## **AS AT 31 DECEMBER 2022**
## **Charity No. 1192812**
||||
|---|---|---|
|**Charity No. 1192812**
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors:**Amount falling due within one year
11
**Net current assets**
**Total net assets**
**The funds of the charity**
**Unrestricted funds**
General funds
12
**Total funds**|**2022**
**£**
2,500
8,056
10,556
(1,400)
9,156
9,156
9,156
9,156
9,156|**2021**
**£**
-
7,406|
|||7,406
(1,680)|
|||5,726|
|||5,726|
|||5,726|
|||5,726|
|||5,726|
Approved by the trustees on 31 October 2023
And signed on their behalf by:
G E Kornitzer
Trustee
31 October 2023
Page 6
**TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
- 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 if 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.
## **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 expenditure in the 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 donations and gifts which it relates. Donated services and These are only included in income (with an equivalent amount in expenditure) where the facilities benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. This includes any gain or loss resulting from revaluing investments to market value at the Gains/(losses) on end of the year. revaluation of fixed assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
**TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS**
## **Expenditure**
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot expenditure be 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 funds costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and services charitable activities in the 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.
## **Freehold investment property**
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
## **Intangible fixed assets and amortisation**
Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.
## **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. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
## **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.
Page 8
**TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS**
## 2 **Income from donations and legacies**
|2
**Income from donations and legacies**|2
**Income from donations and legacies**|||||
|---|---|---|---|---|---|
|**Unrestricted**
**£**
Donations
193,278
193,278
3
**Expenditure on raising funds**
**Unrestricted**
**£**
_Costs of generating voluntary_
_income_
Fundraising Costs
7,683
7,683
4
**Expenditure on charitable activities**
**Unrestricted**
**£**
_Expenditure_
_on_
_charitable_
_activities_
Rent
96,000
Food Provision
79,002
Grants made
3,000
_Governance costs_
Independent Examiners Fees
1,400
179,402
5
**Analysis of grants**
**Activity or programme**
**Grants to**
**Institutions**
**£**
Grants to Individuals
-
-
6
**Other expenditure**
**Unrestricted**
**£**
Employee costs
2,640
General administrative costs
123
2,763||**Restricted**
**£**
-
-
**Restricted**
**£**
-
-
**Restricted**
**£**
-
-
-
-
-
**Grants to**
**Individuals**
**£**|**Endowment**
**£**
-
-
**Endowment**
**£**
-
-
**Endowment**
**£**
-
-
-
-
-
**Support**
**Costs**
**£**
-
-
**Endowment**
**£**
-
-
-|**Total**
**2022**
**£**
193,278
193,278
**Total**
**2022**
**£**
7,683
7,683
**Total**
**2022**
**£**
96,000
79,002
3,000
1,400
179,402
**Total**
**2022**
**£**
3,000
3,000
**Total**
**2022**
**£**
2,640
123
2,763|**Total**
**2021**
**£**
67,722|
||||||67,722|
||||||**Total**
**2021**
**£**
-|
||||||-|
||||||**Total**
**2021**
**£**
22,200
33,110
5,000
1,680|
||||||61,990|
||||||**Total**
**2021**
**£**
5,000|
||-|3,000||||
||-
**Unrestricted**
**£**
2,640
123
2,763|3,000
**Restricted**
**£**
-
-
-|||5,000|
||||||**Total**
**2021**
**£**
-
6|
||||||6|
Page 9
**TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS**
## 7 **Net income before transfers**
|**Net income before transfers**|||
|---|---|---|
||**2022**|**2021**|
|This is stated after charging:|**£**|**£**|
|Independent Examiner's fee|1,400|1,680|
## 8 **Trustee remuneration and expenses**
None of the trustees have been paid any remuneration in the current or prior periods.
The charity has incurred expenditure on travel undertaken by the Trustees for fundraising on behalf of the charity.
## 9 **Staff costs**
|Salaries and wages
No employee received emoluments in excess of £60,000.
10 **Debtors**
Other debtors
11 **Creditors:**
Amounts falling due within one year
Accruals
12 **Movement in funds**
**At 1 January**
**2022**
**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
**Unrestricted funds:**
**General funds**
5,726
193,278
**Total funds**
5,726
193,278
13 **Analysis of net assets between funds**
**Unrestricted**
**funds**
**£**
Net current assets
9,156
9,156|Salaries and wages
No employee received emoluments in excess of £60,000.
10 **Debtors**
Other debtors
11 **Creditors:**
Amounts falling due within one year
Accruals
12 **Movement in funds**
**At 1 January**
**2022**
**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
**Unrestricted funds:**
**General funds**
5,726
193,278
**Total funds**
5,726
193,278
13 **Analysis of net assets between funds**
**Unrestricted**
**funds**
**£**
Net current assets
9,156
9,156|Salaries and wages
No employee received emoluments in excess of £60,000.
10 **Debtors**
Other debtors
11 **Creditors:**
Amounts falling due within one year
Accruals
12 **Movement in funds**
**At 1 January**
**2022**
**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
**Unrestricted funds:**
**General funds**
5,726
193,278
**Total funds**
5,726
193,278
13 **Analysis of net assets between funds**
**Unrestricted**
**funds**
**£**
Net current assets
9,156
9,156|**2022**
**£**
2,640
2,640
**2022**
**£**
2,500
2,500
**2022**
**£**||**2021**
**£**
-|
|---|---|---|---|---|---|
||||||-|
||||||**2021**
**£**
-|
||||||-|
||||||**2021**
**£**|
||||1,400||1,680|
|||**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
193,278
193,278
**Unrestricted**
**funds**
**£**
9,156
9,156|1,400
**Resources**
**expended**
**£**
(189,848)
(189,848)
**Restricted**
**funds**
**£**
-
-|**Gross**
**transfers**
**£**
-
-
**Endowment**
**funds**
**£**
-
-|1,680|
||||||**At 31**
**December**
**2022**
**£**
9,156|
||||||9,156|
||||||**Total**
**£**
9,156|
||||||9,156|
Page 10
**TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS**
## 14 **Related party disclosures**
There were no related party transactions during the year requiring disclosure.
Page 11