CHARITY REGISTRATION NUMBER: 1206453
Alfei Zohov
Unaudited Financial Statements
30 September 2024
CHARTWELL ACCOUNTANTS & BUSINESS CONSULTANTS LLP
Chartered Certified Accountants
47 Bury New Road Prestwich Manchester M25 9JY
Alfei Zohov
Financial Statements
Period from 9 January 2024 to 30 September 2024
| 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 |
Alfei Zohov
Trustees' Annual Report
Period from 9 January 2024 to 30 September 2024
The trustees present their report and the unaudited financial statements of the charity for the period ended 30 September 2024.
Reference and administrative details
| Registered charity name | Alfei Zohov |
|---|---|
| Charity registration number | 1206453 |
| Principal office | 12 Tewkesbury Drive |
| Prestwich | |
| Manchester | |
| M25 0HG | |
| The trustees | |
| Mr D Leitner | |
| Mr R Springer | |
| Mr A L Roberts | |
| Accountants | Chartwell Accountants and Business Consultants LLP |
| Chartered Certified Accountants | |
| 47 Bury New Road | |
| Prestwich | |
| Manchester | |
| M25 9JY |
Structure, governance and management
Alfei Zohov was registered as a Charitable Incorporated Organisation (CIO) on the 9th of January 2024 governed by its constitution. The charity registration number is 1206453.
Objectives and activities
The objects of the charity are: (i) The prevention or relief of poverty or financial hardship by providing grants or loans to individuals in need and/or charities or other organisations working to prevent or relieve poverty or financial hardship; (ii) To advance the Orthodox Jewish religion for the benefit of the public in accordance with the principles of the Code of Jewish Law.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
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Alfei Zohov
Trustees' Annual Report (continued)
Period from 9 January 2024 to 30 September 2024
Achievements and performance
As the charity only began activities in June 2024 this report covers a period of just 4 months. During this period the Charity raised funds of £26,056. £20,710 was paid out as grants in accordance with the objectives of the Charity and further grants were paid out after the year end. The charity has very low administration costs with over 95% of donations received allocated for grant payments.
Financial review
The trustees have reviewed the reserves and future requirements of the charity. All future needs are considered together with any risks or contingencies that may exist. The trustees are confident that sufficient reserves will be generated to achieve the objectives of the charity.
Principal funding sources
The Charity is dependent on charitable donations from other charities and philanthropists.
Plans for future periods
There are no plans to change the current operating structure in the foreseeable future.
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.
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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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.
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Alfei Zohov
Trustees' Annual Report (continued)
Period from 9 January 2024 to 30 September 2024
The trustees' annual report was approved on 21 July 2025 and signed on behalf of the board of trustees by:
Mr A L Roberts Trustee
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Alfei Zohov
Independent Examiner's Report to the Trustees of Alfei Zohov
Period from 9 January 2024 to 30 September 2024
I report to the trustees on my examination of the financial statements of Alfei Zohov ('the charity') for the period ended 30 September 2024.
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.
M Guttentag FCCA of Chartwell Accountants and Business Consultants LLP Independent Examiner
47 Bury New Road Prestwich Manchester M25 9JY
21 Jul 25
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Alfei Zohov
Statement of Financial Activities
Period from 9 January 2024 to 30 September 2024
| Period from 9 Jan | 24 to | ||
|---|---|---|---|
| 30 Sep 24 | |||
| Unrestricted | |||
| fundsTotal funds | |||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 4 | 26,056 | 26,056 |
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| Total income | 26,056 | 26,056 | |
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| Expenditure | |||
| Expenditure on charitable activities | 5,6 | 21,306 | 21,306 |
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| Total expenditure | 21,306 | 21,306 | |
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| Net income and net movement in funds | 4,750 | 4,750 | |
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| Reconciliation of funds | |||
| Total funds brought forward | – | – | |
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| Total funds carried forward | 4,750 | 4,750 | |
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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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Alfei Zohov
Statement of Financial Position
30 September 2024
| 30 Sep 24 | ||
|---|---|---|
| Note | £ | |
| Current assets | ||
| Cash at bank and in hand | 5,230 | |
| Creditors: amounts falling due within one year | 12 | 480 |
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| Net current assets | 4,750 | |
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| Total assets less current liabilities | 4,750 | |
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| Net assets | 4,750 | |
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| Funds of the charity | ||
| Unrestricted funds | 4,750 | |
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| Total charity funds | 13 | 4,750 |
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These financial statements were approved by the board of trustees and authorised for issue on 21 Jul 25, and are signed on behalf of the board by:
Mr A L Roberts Trustee
The notes on pages 7 to 11 form part of these financial statements.
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Alfei Zohov
Notes to the Financial Statements
Period from 9 January 2024 to 30 September 2024
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 12 Tewkesbury Drive, Prestwich, Manchester, M25 0HG.
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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Alfei Zohov
Notes to the Financial Statements (continued)
Period from 9 January 2024 to 30 September 2024
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, non-charitable 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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Alfei Zohov
Notes to the Financial Statements (continued)
Period from 9 January 2024 to 30 September 2024
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 | 2024 | |
| £ | £ | |
| Donations | ||
| Donations received | 26,056 | 26,056 |
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5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Grant funding activities | 20,710 | 20,710 |
| Support costs | 596 | 596 |
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| 21,306 | 21,306 | |
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Alfei Zohov
Notes to the Financial Statements (continued)
Period from 9 January 2024 to 30 September 2024
6. Expenditure on charitable activities by activity type
| Grant funding | Total funds | |||||
|---|---|---|---|---|---|---|
| of activities | Support costs | 2024 | ||||
| £ | £ | £ | ||||
| Grant funding activities | 20,710 | – | 20,710 | |||
| Governance costs | – | 596 |
596 | |||
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| 20,710 | 596 |
21,306 | ||||
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| 7. | Analysis of support costs | |||||
| Analysis | of | |||||
| support costs | ||||||
| activity | 1 | Total 2024 | ||||
| £ | £ | |||||
| Accountancy | 480 | 480 | ||||
| Other travek | 116 | 116 | ||||
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| 596 | 596 | |||||
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| 8. | Analysis of grants | |||||
| Period from | ||||||
| 9 Jan 24 to | ||||||
| 30 Sep 24 | ||||||
| £ | ||||||
| Grants to institutions | ||||||
| Grants to institutions | 1,600 | |||||
| Grants to individuals | ||||||
| Grants to individuals | 19,110 | |||||
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| Total grants | 20,710 | |||||
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| Grants made to institutions: | ||||||
| Kollel Binyan Simcha | £1,600 | |||||
| _ | ||||||
| Total | £1,600 |
9. Independent examination fees
| Period from | ||
|---|---|---|
| 9 Jan 24 to | ||
| 30 Sep 24 | ||
| £ | ||
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 480 | |
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| 10. | Staff costs |
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Alfei Zohov
Notes to the Financial Statements (continued)
Period from 9 January 2024 to 30 September 2024
10. Staff costs (continued)
The average head count of employees during the period was Nil.
No employee received employee benefits of more than £60,000 during the year (2024: 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.
12. Creditors: amounts falling due within one year
| 30 | Sep 24 | |
|---|---|---|
| £ | ||
| Accruals and deferred income | 480 | |
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13. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||||
|---|---|---|---|---|---|---|---|---|
| At | ||||||||
| At | 9 | Jan | 2024 | Income | Expenditure | 30 | Sep 2024 | |
| £ | £ | £ | £ | |||||
| General funds | – | 26,056 | (21,306) | 4,750 | ||||
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14. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Current assets | 5,230 | 5,230 |
| Creditors less than 1 year | (480) | (480) |
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| Net assets | 4,750 | 4,750 |
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15. Related parties
No transactions with related parties were undertaken during the year.
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