REGISTERED CHARITY NUMBER: 1193663
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
FOR
LEHACHZIKOM UK
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
LEHACHZIKOM UK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 11 |
LEHACHZIKOM UK
REPORT OF THE TRUSTEES FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the period 24 February 2021 to 31 December 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 charity's objects are:
-
the advancement of the Jewish religion in such parts of the UK as the trustees shall determine, in particular but not exclusively, through the provision of grants to support religious education and religious study.
-
the relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage.
Significant activities
During the year under review, the charity provided grants to various charitable institutions and individuals to achieve its objective of promoting the Orthodox Jewish faith for public benefit as well as other charitable purposes.
Public benefit
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 activities.
Grantmaking
Grants are made to charitable institutions, organisations and authorised individuals which accord with the objects of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year under review the charity raised substantial funds and has spent almost all of the funds raised in the furtherance of its objectives.
During the year under review the charity received generous donations amounting to £737,754 and paid donations amounting to £450,170.
FINANCIAL REVIEW
Principal funding sources
The charity is dependent on the investment income and generous donation from the donors.
Investment policy and objectives
Under the constitution the charity has the power to make any investment which the trustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy. The trustees believe their experience within the UK investment property market, together with external advice as appropriate, will maximise the charity's income from its investments.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.
Going concern
The trustees are confident that the unrestricted funds at its disposal as at 31 December 2021 together with income secured on investment property are adequate to meet the operating and financial obligations for the next twelve months.
FUTURE PLANS
The trustees will continue to pursue the charity's objective by providing grant to institutions whose objective closely aligns with it's own.
Page 1
LEHACHZIKOM UK
REPORT OF THE TRUSTEES FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and constitutes a charitable incorporated organisation.
Recruitment and appointment of new trustees
The trustees have not currently envisaged appointment of new trustees. Should the situation change in the future, the trustees will apply suitable recruitment and training procedure.
Organisational structure
The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity and no benefits or expenses were paid in the year.
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
1193663
Principal address
100 DARENTH ROAD LONDON N16 6ED
Trustees
I Vizel Chair (appointed 24.2.21) E Waltzer Trustee (appointed 24.2.21) D A Ovits (appointed 24.2.21)
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 31 October 2022 and signed on its behalf by:
I Vizel - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEHACHZIKOM UK
Independent examiner's report to the trustees of LEHACHZIKOM UK
I report to the charity trustees on my examination of the accounts of LEHACHZIKOM UK (the Trust) for the period 24 February 2021 to 31 December 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 A.C.A 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
31 October 2022
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LEHACHZIKOM UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 2 | 737,754 |
| Other trading activities | 3 | 177,103 |
| Total | 914,857 | |
| EXPENDITURE ON | ||
| Charitable activities | 4 | |
| Charitable activities | 480,139 | |
| Other | 2,007 | |
| Total | 482,146 | |
| NET INCOME | 432,711 | |
| TOTAL FUNDS CARRIED FORWARD | 432,711 |
The notes form part of these financial statements
Page 4
LEHACHZIKOM UK
BALANCE SHEET 31 DECEMBER 2021
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| FIXED ASSETS | ||
| Tangible assets | 8 | 649 |
| Investment property | 9 | 311,935 |
| 312,584 | ||
| CURRENT ASSETS | ||
| Debtors | 10 | 70,000 |
| Cash at bank | 51,927 | |
| 121,927 | ||
| CREDITORS | ||
| Amounts falling due within one year | 11 | (1,800) |
| NET CURRENT ASSETS | 120,127 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 432,711 | |
| NET ASSETS | 432,711 | |
| FUNDS | 12 | |
| Unrestricted funds | 432,711 | |
| TOTAL FUNDS | 432,711 |
The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2022 and were signed on its behalf by:
I Vizel - Trustee
E Waltzer - Trustee
D A Ovits - Trustee
The notes form part of these financial statements
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LEHACHZIKOM UK
CASH FLOW STATEMENT FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Purchase of investment property Net cash (used in)/provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
£ 364,625 364,625 (763) (311,935) (312,698) 51,927 - 51,927 |
|---|---|
The notes form part of these financial statements
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LEHACHZIKOM UK
NOTES TO THE CASH FLOW STATEMENT FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Increase in debtors Increase in creditors Net cash provided by operations |
£ 432,711 114 (70,000) 1,800 |
|---|---|
| 364,625 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At Net cash Cash at bank Total |
24.2.21 Cash flow At 31.12.21 £ £ £ - 51,927 51,927 - 51,927 51,927 - 51,927 51,927 |
24.2.21 Cash flow At 31.12.21 £ £ £ - 51,927 51,927 - 51,927 51,927 - 51,927 51,927 |
|---|---|---|
| 51,927 | ||
| 51,927 |
The notes form part of these financial statements
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LEHACHZIKOM UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 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.
Governance costs
Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the costs of Trustee meetings and the preparation of the statutory accounts.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 15% on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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.
continued...
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LEHACHZIKOM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
2. DONATIONS AND LEGACIES
| Donations 3. OTHER TRADING ACTIVITIES Fundraising events 4. CHARITABLE ACTIVITIES COSTS Charitable activities 5. GRANTS PAYABLE Charitable activities 6. SUPPORT COSTS Other resources expended Charitable activities |
Direct Costs £ 29,855 |
Grant funding of activities Support (see note costs (see 5) note 6) £ £ 450,170 114 Governance Finance costs £ £ 207 1,800 114 - 321 1,800 |
£ 737,754 |
£ 737,754 |
|---|---|---|---|---|
| £ 177,103 |
||||
| Totals £ 480,139 |
||||
| £ 450,170 |
||||
| Totals £ 2,007 114 2,121 |
||||
| 2,121 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 December 2021.
8. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Fixtures | |
| and | |
| fittings | |
| £ | |
| COST | |
| Additions | 763 |
| DEPRECIATION | |
| Charge for year | 114 |
| NET BOOK VALUE | |
| At 31 December 2021 | 649 |
continued...
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LEHACHZIKOM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
| 9. INVESTMENT PROPERTY FAIR VALUE Additions At 31 December 2021 NET BOOK VALUE At 31 December 2021 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 12. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 914,857 TOTAL FUNDS 914,857 |
£ 311,935 311,935 311,935 £ 70,000 £ 1,800 Net movement At in funds 31.12.21 £ £ 432,711 432,711 432,711 432,711 Resources Movement expended in funds £ £ (482,146) 432,711 (482,146) 432,711 |
|---|---|
continued...
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LEHACHZIKOM UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 24 FEBRUARY 2021 TO 31 DECEMBER 2021
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 December 2021.
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