CHARITY REGISTRATION NUMBER: 1202256
Zichron Moshe Hassell Unaudited Financial Statements
31 December 2023
Zichron Moshe Hassell
Financial Statements
Year ended 31 December 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Zichron Moshe Hassell
Trustees' Annual Report
Year ended 31 December 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.
Reference and administrative details
Registered charity name Zichron Moshe Hassell Charity registration number 1202256 Principal office 59 Waterpark Road Salford M7 4JL
The trustees
Mr E Lewin (Appointed 9 March 2023) Mrs J Hassell (Appointed 9 March 2023) Mr Y Bengio (Appointed 12 June 2023)
Structure, governance and management
Governing document
The charity is constituted as a charitable incorporated organisation, and is governed by its governing document, incorporated on 9 March 2023.
Recruitment and appointment of new trustees
New trustees are appointed due to their interest in the work of charity.
Organisational structure
The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity.
Induction and training of new trustees
New trustees are given a full induction by the directors. Trustees can retire when they wish as they do not serve under a fixed term of tenure.
Objectives and activities
Objectives and aims
The objects of the charity are the preservation of good mental health and the relief of mental sickness and emotional distress for the Jewish community living in greater Manchester, in particular but not exclusively, by the provision of a signposting service, advocacy and well-being events.
Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
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Trustees' Annual Report (continued)
Zichron Moshe Hassell
Year ended 31 December 2023
Achievements and performance
Our initial 12-month project was dedicated to enhancing the mental health and well-being of adults and young people over 18 from the Jewish Orthodox community in Manchester. With the community significantly impacted by the pandemic, cost-of-living crisis, including fatalities, furlough, and unemployment, individuals faced increased challenges from the cost-of-living crisis and heightened financial pressures, resulting in anxiety, depression, and stress without appropriate support. It supported 50 individuals through professional mentoring sessions in small groups, focusing on wellbeing, anxiety, stress, and depression. For those requiring specialised trauma therapy, professional counseling services were provided after assessment. To further address mental health on a broader scale, weekly group sessions led by a counselor were conducted, promoting peer connections and preventing social isolation.
Additionally, bimonthly social activities for participants' families, including BBQs, walks, and community meals, aimed to reduce anxiety and enhance social support.
This comprehensive approach sought to build resilience, improve mental health, and foster a supportive community environment.
Financial review
Financial position
Income from donations totalled £81,017 (2022 - £0). Expenditure in furtherance of charitable activities aggregated £65,932 (2022 - £0) resulting in net income of £15,685 (2022 - £0). The financial results of the charity's activities for the year to 31 December 2023 are fully reflected on pages 5 and 6 of the Financial Statements together with the notes thereon.
Reserves policy
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary grants. The trustees consider that the ideal level of reserves as at 31 December 2023 would be three months of resources expended which equates to approximately £16,500. The actual free reserves as at 31 December 2023 were £15,685 which is slightly lower than our target figure.
Trustees' responsibilities statement
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
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Zichron Moshe Hassell
Trustees' Annual Report (continued)
Year ended 31 December 2023
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report was approved on 3 September 2024 and signed on behalf of the board of trustees by:
Mrs J Hassell Trustee
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Zichron Moshe Hassell
Independent Examiner's Report to the Trustees of Zichron Moshe Hassell
Year ended 31 December 2023
I report to the trustees on my examination of the financial statements of Zichron Moshe Hassell ('the charity') for the year ended 31 December 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
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 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
Yisroel Levenson FCCA CTA Independent Examiner
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Zichron Moshe Hassell
Statement of Financial Activities
Year ended 31 December 2023
| 2023 | 2023 | ||
|---|---|---|---|
| Unrestricted | |||
| funds | Total funds | ||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 4 | 81,017 | 81,017 |
| �������� | �������� | ||
| Total income | 81,017 | 81,017 | |
| �������� | �������� | ||
| Expenditure | |||
| Expenditure on charitable activities | 5,6 | 65,932 | 65,932 |
| �������� | �������� | ||
| Total expenditure | 65,932 | 65,932 | |
| �������� | �������� | ||
| �������� | �������� | ||
| Net income and net movement in funds | 15,085 | 15,085 | |
| �������� | �������� | ||
| Reconciliation of funds | |||
| Total funds brought forward | – | – | |
| �������� | �������� | ||
| Total funds carried forward | 15,085 | 15,085 | |
| �������� | �������� |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 11 form part of these financial statements.
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Zichron Moshe Hassell
Statement of Financial Position
31 December 2023
| 2023 | ||
|---|---|---|
| Note | £ | |
| Current assets | ||
| Cash at bank and in hand | 15,685 | |
| Creditors: amounts falling due within one year | 12 | 600 |
| �������� | ||
| Net current assets | 15,085 | |
| �������� | ||
| Total assets less current liabilities | 15,085 | |
| �������� | ||
| Net assets | 15,085 | |
| �������� | ||
| Funds of the charity | ||
| Unrestricted funds | 15,085 | |
| �������� | ||
| Total charity funds | 13 | 15,085 |
| �������� |
These financial statements were approved by the board of trustees and authorised for issue on 3 September 2024, and are signed on behalf of the board by:
Mrs J Hassell Trustee
The notes on pages 7 to 11 form part of these financial statements.
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Zichron Moshe Hassell
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 59 Stanley Road, Salford, M7 4JL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Zichron Moshe Hassell
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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Zichron Moshe Hassell
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Donations | ||
| Donations type 1 | 81,017 �������� |
81,017 �������� |
5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Activity type 1 | 52,100 | 52,100 |
| Support costs | 13,832 | 13,832 |
| �������� | �������� | |
| 65,932 | 65,932 | |
| �������� | �������� |
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Zichron Moshe Hassell
Notes to the Financial Statements (continued)
Year ended 31 December 2023
6. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding | Total funds | |||
| directly | of activities | Support costs | 2023 | ||
| £ | £ | £ | £ | ||
| Activity type 1 | 22,960 | 29,140 | 13,832 | 65,932 | |
| �������� | �������� | �������� | �������� | ||
| 7. | Analysis of support costs | ||||
| Analysis of | |||||
| support costs | |||||
| activity 1 | Total 2023 | ||||
| £ | £ | ||||
| Governance costs | 13,832 | 13,832 | |||
| �������� | �������� | ||||
| 8. | Analysis of grants | ||||
| 2023 | |||||
| £ | |||||
| Grants to individuals | |||||
| Grants to individuals type 1 | 29,140 | ||||
| �������� | |||||
| Total grants | 29,140 | ||||
| �������� | |||||
| 9. | Independent examination fees | ||||
| 2023 | |||||
| £ | |||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 600 | ||||
| ���� |
| 10. | Staff costs | |
|---|---|---|
| The total staff costs and employee benefits for the reporting period are analysed as follows: | ||
| 2023 | ||
| £ | ||
| Wages and salaries | 9,832 | |
| ������� | ||
| The average head count of employees during the year was 1. The average number of full-time | ||
| equivalent employees during the year is analysed as follows: | ||
| 2023 | ||
| No. | ||
| Number of staff - type 1 | 1 | |
| ���� |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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Zichron Moshe Hassell
Notes to the Financial Statements (continued)
Year ended 31 December 2023
12. Creditors: amounts falling due within one year
| 2023 | |||||
|---|---|---|---|---|---|
| £ | |||||
| Accruals and deferred income | 600 | ||||
| ���� | |||||
| 13. | Analysis of charitable funds | ||||
| Unrestricted funds | |||||
| At | At | ||||
| 1 | January 202 | 31 December | |||
| 3 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||
| General funds | – | 81,017 | (65,932) | 15,085 | |
| ���� | �������� | �������� | �������� | ||
| 14. | Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2023 | ||||
| £ | £ | ||||
| Current assets | 15,685 | 15,685 | |||
| Creditors less than 1 year | (600) | (600) | |||
| �������� | �������� | ||||
| Net assets | 15,085 | 15,085 | |||
| �������� | �������� |
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