CHARITY REGISTRATION NUMBER: 1192812
TORATH MOISHE VIZNITZ CLUB
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
31 DECEMBER 2023
TORATH MOISHE VIZNITZ CLUB
TORATH MOISHE VIZNITZ CLUB CHARITABLE TRUST FINANCIAL STATEMENTS 31 DECEMBER 2023
| 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 2023.
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
CHS 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 the 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 did not make any grants and employed its resources exclusively for the provision of charitable activities.
The financial results for the year to 31 December 2023 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 2023 the charity a deficit of £20,419 of Unrestricted Funds. This situation was temporary and is reversed during the current year.
Grant Making Policy
The charity makes grants for the provision and support of places of religious worship and Jewish education.
Page 2
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 and 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 grant making activities.
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 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 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
Gershon Eliezer Kornitzer
Trustee
30 October 2024
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 2023 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.
P Shebson ACA
CHS Accountants Ltd 45 Stamford Hill London N16 5SR 30 October 2024
Page 4
TORATH MOISHE VIZNITZ CLUB STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Income and endowments from: Donations and legacies 3 Total Expenditure on: Raising funds 4 Charitable activities 5 Other 7 Total Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds |
|---|---|---|---|
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| 163,068 | 163,068 | 193,278 | |
| 163,068 | 163,068 | 193,278 | |
| 3,756 | 3,756 | 7,683 | |
| 152,287 | 152,287 | 179,402 | |
| 36,600 | 36,600 | 2,763 | |
| 192,643 | 192,643 | 189,848 | |
| (29,575) | (29,575) | 3,430 | |
| 9,156 | 9,156 | 5,726 | |
| (20,419) | (20,419) | 9,156 | |
Page 5
TORATH MOISHE VIZNITZ CLUB BALANCE SHEET
AS AT 31 December 2023
| Charity No. 1192812 Fixed assets Current assets Debtors 11 Cash at bank and in hand Creditors:Amount falling due within one year 12 Net current (liabilities)/assets Total assets less current liabilities Total net (liabilities)/assets The funds of the charity Unrestricted funds 13 General funds Designated funds Total funds |
2023 £ 900 661 1,561 (21,980) (20,419) (20,419) (20,419) (20,419) - (20,419) (20,419) |
2022 £ 2,500 8,056 |
|---|---|---|
| 10,556 (1,400) |
||
| 9,156 9,156 |
||
| 9,156 | ||
| 9,156 - |
||
| 9,156 | ||
| 9,156 |
Approved by the trustees on 30 October 2024
And signed on their behalf by:
Gershon Eliezer Kornitzer Trustee 30 October 2024
Page 6
TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 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
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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 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.
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.
3 Income from donations and legacies
| Unrestricted £ 163,068 163,068 |
Restricted £ - - |
Endowment £ - - |
Total 2023 £ 163,068 163,068 |
Total 2022 £ 193,278 |
|
|---|---|---|---|---|---|
| Donations | |||||
| 193,278 |
Page 8
TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS
| 4 Expenditure on raising funds Unrestricted £ Costs of generating voluntary income Fundraising Costs 3,756 3,756 5 Expenditure on charitable activities Unrestricted £ Expenditure on charitable activities Rent 48,000 Food Provisions and Charitable Activities 102,607 Grants made - Governance costs Independent Examiner's Fees 1,680 152,287 6 Analysis of grants Activity or programme Grants to Institutions £ Grants to Individuals - - 7 Other expenditure Unrestricted £ Employee costs 36,588 General administrative costs 12 36,600 8 Net (expenditure)/income before transfers This is stated after charging: Independent Examiner's fee |
4 Expenditure on raising funds Unrestricted £ Costs of generating voluntary income Fundraising Costs 3,756 3,756 5 Expenditure on charitable activities Unrestricted £ Expenditure on charitable activities Rent 48,000 Food Provisions and Charitable Activities 102,607 Grants made - Governance costs Independent Examiner's Fees 1,680 152,287 6 Analysis of grants Activity or programme Grants to Institutions £ Grants to Individuals - - 7 Other expenditure Unrestricted £ Employee costs 36,588 General administrative costs 12 36,600 8 Net (expenditure)/income before transfers This is stated after charging: Independent Examiner's fee |
Restricted £ - - Restricted £ - - - - - Grants to Individuals £ |
Endowment £ - - Endowment £ - - - - - Support Costs £ - - Endowment £ - - - 2023 £ 1,680 |
Total 2023 £ 3,756 3,756 Total 2023 £ 48,000 102,607 - 1,680 152,287 Total 2023 £ - - Total 2023 £ 36,588 12 36,600 |
Total 2022 £ 7,683 |
|---|---|---|---|---|---|
| 7,683 | |||||
| Total 2022 £ 96,000 79,002 3,000 1,400 |
|||||
| 179,402 | |||||
| Total 2022 £ 3,000 |
|||||
| - | - | ||||
| - Restricted £ - - - |
3,000 | ||||
| Total 2022 £ 2,640 123 |
|||||
| 2,763 | |||||
| 2022 £ 1,400 |
Page 9
TORATH MOISHE VIZNITZ CLUB NOTES TO THE ACCOUNTS
9 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.
| 10 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 11 Debtors Other debtors 12 Creditors: amounts falling due within one year Loans Accruals 13 Movement in funds At 1 January 2023 Incoming resources (including other gains/losses) £ Unrestricted funds: General funds 9,156 163,068 Total funds 9,156 163,068 |
10 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 11 Debtors Other debtors 12 Creditors: amounts falling due within one year Loans Accruals 13 Movement in funds At 1 January 2023 Incoming resources (including other gains/losses) £ Unrestricted funds: General funds 9,156 163,068 Total funds 9,156 163,068 |
10 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 11 Debtors Other debtors 12 Creditors: amounts falling due within one year Loans Accruals 13 Movement in funds At 1 January 2023 Incoming resources (including other gains/losses) £ Unrestricted funds: General funds 9,156 163,068 Total funds 9,156 163,068 |
2023 £ 36,588 36,588 2023 £ 900 900 2023 £ 18,900 |
2022 £ 2,640 |
|
|---|---|---|---|---|---|
| 2,640 | |||||
| 2022 £ 2,500 |
|||||
| 2,500 | |||||
| 2022 £ - |
|||||
| 3,080 | 1,400 | ||||
| At 1 January 2023 9,156 9,156 |
Incoming resources (including other gains/losses) £ 163,068 163,068 |
21,980 Resources expended £ (192,643) (192,643) |
Gross transfers £ - - |
1,400 | |
| At 31 December 2023 £ (20,419) |
|||||
| (20,419) |
14 Related party disclosures
Other than any mentioned above, no related party transactions disclosures are required.
Page 10