Chanty regi5tratDn number 210472 FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOU TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOLIMI LEGAL AND ADMINISTRATIVE INFORMATION Trustees SiTf¥)n Sa￿man (President) Richard Limburg Joy Goldberg Charity number 210472 Principal address Suite 69 Churchill House 137-139 Brent Str￿1 London NW4 4DJ Independenl Examiner Anthony Epton BA FCA CTA FCIE Goldwns Chartered Acojuntants 75 Maygrove Road West Hamp5tead Lon¢knn NW6 2EG Prinapal bankers CAF Barbk Limited 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOLIM) CONTENTS Page Trustees. annual report Independent examinerfs rewt Statement of financial aclivities Balance sheet ststem8nl of cash Ilows 9-10 Notes to the financial stateErEnts FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOLIM) TRUSTEES, ANNUAL REPORT The TTUStees are pleased to present their reFrt)rt and the Charws a(xounts for the year ended 31 December 2022. The f1nanaal ststements. which are Prepared in pounds sterfing be5ng the funclional ojrrency of the Charity. have been prepared in a￿ordan￿ wllh the accountir¢g p)liues set out In the notes to the financial staterrbents and comply wrth Ihe Challtys Rules which are its goveming document, the Charities Act 2011 and 'A¢counting and Repo￿"ng by Chanties: Stalemenl of Recommended Pracb"ce applicable to tha¥itw preparing Iheir accounts in ac(x)rdance wrth the Financial Reporiing Standard appliGable in the UK ar￿ Republic of Ireland (FRS 102) {effec*"ye 1 January 2019) (the Charities SORPI. SITuc*ure. gov8rnance and management Friends of the Sick (Chevrat Bikkur Cholim) is an unincorporated as$wiat￿n that was established in 1947. M was règistered wilh the Charty Commission as a chatity on 30 January 1961. The Charity's websrte is vMw.ukfos.or Trustees Thè folk)wng tru*ees held Offi￿ IhroLyhoul the year: Simon Sackman (Presidenl) Richard Limburg J()y Goldberg The Twst8es have read. and are u)gnisant of. the guidarK* Telating to public benef￿ issued by the Charrty Commission. Objectfve Friend5 of thè Sick or las tl is fondly known by many) Bikkur Cholim airrn5 to provide sUp￿rt and companionship to the vulnerdble in the Jewish community in and around London. Our servi￿$ are an important pFece in the jigsaw of communty welfare seNir£s. We sit btheen mainslream welfare organisations. which mosly no longer offèr home support. and the enti￿lY voluntary efforts of local synagogues. We are there when elderfy or sick p￿pIe, often living alone or wth a dependent partner. need help but do not require full-lime care or do not wsh to mve to a resKlential care home. Helping people to con*'nue livtng in the farrmlbar and o)mknting surrounding5 of their own honEs is al the heart of what we do. Friends of the Sick achieves its obJ"edive principally through On￿￿-One home wsits lo dients by our d￿lGa1ed team of Irained sllp￿rt worker5: we are also able to offer lelephone supporL In 2022 we employed nine support workers. All our employees are Jewsh and thus able to ￿late to dient5 when fi comes to Kashrut and Jwsh c3Jsloms and practs￿. The vast majonty of our support workers have worked for Friends of the Sith for many year5. Our supportworkers perform a range of tasks wh￿h vary ar£￿$ng to the needs of the individual client. Thèse Include help wrth shopping. preparing Ir￿als. transsx>rting the dient to the doctor or a hospital appointment or simply Ghath"ng over a cup of tea or game of cards or taking them for a walk in a k)cal Park. Our SUPFQrt worker5 can also asstst wth minor administrativè matlers. These tasks may seem insignificant. but the companionship. social interadion and IT￿ntaI sb"fTbulab"on our support workeTS provide can make an ènorrrv)us drfference for those who might otheTwse feel isolated and ignored. As a restjlt many of our clients fom dose friendships wth Ihesr supFK>rt workers. Importanty, as well as helping the dient what we do can bnng rr￿ch needed respite for dients. main carers. FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOUM) TRUSTEES, ANNUAL REPORT Given the vulnerable status of our clients. the operaknal pro￿￿015 that were introduced to minirrrise the risks associated wth COVIt>19 ￿re kept in place. Accordingly. all support workers were throughout the year, and wntinue to be. provided vthh appropnale tersonal protedive equipment for evèry visit Ihey make. Allhough over the course of Ihe year the dired impad of COVID-19 thankfvlly receded. activity levèls in 2022 remained below those reached in 2019. the last full year before tre pandemic. In 2022 Ihe Charity prowded over 3.1LK) hours of Sup￿rtIO 22 d"rfferent client& This represented a mcxjest increase on 2021 when some 3.0￿ hours of support vras prov￿￿1 to a total of 16 clients. The major.rty of dient referrals carne from Jewish Care. ￿th whom ¥￿ have a 9c(%l working relationship.. we regularfy liaise wilh front line social workers and attend appropriate seminars organised by Jewsh Care. Olher ￿ferraIS were received from the AssC¥￿tOn of Jewsh Refugee5, synagogue welfare offi￿rS and recommendations from past cjients or Iheir relatives and Ihrough our websrte. which Wds mpletely redes)gn8d and uwraded durFng the year. Traditionally. Friends oflhe Sick ￿￿tlY seryed Ihe Jewish (x>mmunity in Norih West London. but as the community has moved to new areas in Greater London and beyond. so has Bikkur Cholim. In 2022 we supported clients in Swss Cottage. Hampslead. Hampstead Garden Suburb. Hendon. Golde15 Gmn. Mill Hill. Southgate. Stanmre. Edgware. Wembiey. Whetstone. Bushey. Borehamwc¥yJ and BameL Flnancial Tevlew In 2022. against a drff￿#JlI eCOncrfn￿ bad(ground. lotal intxsme. from dO1￿170n$. con1n"butior￿ from dienls and investrnerrt in(x)me. including a srnalS amount of bank interest. was £89,312. This was a decrease of 9.8 per cent on Ihe previous year12021'. £99.0581. tk)nations from individual donors and chantable trusts at £45.371 were 27 ￿ftl kjwer than in Ihè prewous year {2021.. £62.1881. As in the past. the rriajority of donab.on income rame through Ihe Rosh Hashanah appeal. No legacies were received in 2022. nor were there any in 2021. We do seek a contn"bulion from dients for Ihe services we pro￿de. but rt rernains our poliry never to turn someone away for financial reasons. Where someonè Cannot afford our charges. these are reduced or waNed aM(uelher. Our charges are si9nthcanUy lower than Ihe ￿st of equivalent seTVi availahle from commercial agencies. In 2022 conkn"butions from dients {shown ln the Statement of financial act"vrties as income from 'Charitable acb"v¢ties'l was £33.284 12021= £27.402). These contributi¥ns covered some 78 per ￿nI. of Ihe salarÉes of support wirker5. who are paid an houdy rate slightly above the London Limng Wage. and only one-third of total expenses for the year. Accordingly. we rely to a svJnrficant extent on the ger￿rOUS support of our donors. Given the Charrty'5 STnall size and the pressure on incomè. th& Trustees are very ￿nsciouS of the need to control cosls. Despite the addrtional costs of providing 5UPKK)rt workèrs Vdith PPE. total expendrture in 2022 at £99.859 was alrrK)st 6 per onl. lower Ihan in the Previous year12021.. £106,002). During the year the Chanty moved out of rts offices in Churchill House and ri(yw operates remotely through a virtual offi￿. this has reduced costs bul wrthout any imp3d on opefabons. The Charrty had a net deficit for the year before unrealiwj losw on rts listed investments of £10.547 12021: £6.9441. Investmerts In accordance wrfh gx*J govemance, thè Tntstees regularfy review the Chanws investment policy seeking to balan￿ Ihe need to maintain 5uffic4ent Gash to meel operating expenses against higher 'elding listed Investrnenls. The Truslees select Invest￿EntS based on research ar￿ taking into account the Charity s medium and long-tem requirements. FRIENDS OF THE SICK (CHEVRAT BIKKUR CHOLIM) TRUSTEES, ANNUAL REPORT Given the relativety low retums available on ￿sh deposits duriNJ the majority of 2022, a subs12ntial proportion of the Chartws assets continued to be ￿ld in SterlirvJ Inu)me units in M&G Equiles Investment Fund for Charities {Charrfundl. U*ritiJnd aims to provith an annual yield above that awailable from the FTSE Al-share lTrJex", an in(ome strean Ihat increases every year, a￿1 a level of capital growih, net of orooing thrges. Ihat is higher than inflation over any ten-year pellod, as measured by Ihe Retail Prices IrKlex. At least70 10 of the fund is invested in the shares of UK companies, with a focLts on high-yielding st￿kS where the companies have the potenlial io grow their dividends over the lo￿ term. Charifwbd makes distrib￿onS four times a year, whid) produces a regular arMI relalively stable source of ITr￿￿￿ for the Charity. Incon* from CharifuThJ units in 2022 was £10,404 (2021.. £9,339). As at 31 De￿mber 2022 the market value of the Charttund units held by the Charity was £184.198 (2021.. £195,062) resulling in an unrealised loss for tl* year of £10,864 {2021.' gain ￿3.0171. This loss Is merely a reflection of the market value ofthose investmenls at year*nd. As at 16 June 2023 (the latest practicable date before the finalisati￿ of these a(tounts) the rywrket value of the Charrfund units was £180,576. The Trustees, wlicy is to maintain sufficient cash resources to cover expEnses during peri￿lS when income receipts are low. The majonty of donalions are re￿iVed duriNJ the Se￿nd ham of t{￿ year through the Rosh Hashanah apF*al. FU￿lS that are nol invested aThJ nol reqkjired in the short-lerm are placed on deposit wf(h various UK banks. Bank interest received in 20Z2 amounted lo £253 12021., £1291. Since the year-erKJ the Charity has transferred a subslanlial pr0FX)￿0n of its surplus cash into a bank's 1-year fixed tem) bcnd yielthng 3.5 per ￿nt. Rlsk management The Trustees are responsible for the manwjement of iBks fac￿1 by the Charty a￿1 all the Tnjslees are involved in considerin9 and assessing t￿se risks. both finar￿la1 a￿1 rKirFfinancial. The controls in place Indude.. regular trustee meetiN¥: a formal agerxk for trustee meetings: planning and budgeting for finar￿la1 CO￿￿ments, Ind￿11￿j investments held. vetting procedures as ￿Uired by law for the protedon of the Vul￿rable. and regular risk assessments. The Trustees consider thal they have identif*d Ihe major risks f￿ed by the Charty aThJ are satisfied Itkal appropriale steps have been laken. aThl cont"EM* to be laken. lo M￿gate su(*) risks. Reserves are niaintained at such a ￿Ve1 as to ertable the Chartty to (arry on n*ding its charitable objectNes for a minimum of a year shoukl its Inc0Th￿ reduce substantially. FRIENDS OF THE SICK {CHEVRAT Bll(KUR CHOLIM) TRUSTEES, ANNUAL REPORT Recruitmert of trustees and trainiTrJ The composiknon of the Charity's board of ttuslees is reviewed regularfy wth a view to achieving a spread of expertise. age and gender designed to faaltlate the achievement ofthe Charity's objects. The Tnjstees seek to recruit members of the J￿sh (ommunity living or working in areas in which the Charity operates who have an inleresl in the Charty's aims and the requisite s￿.11$. The Trustees keep up to date on their responstbilrties by vartotjs means. such as reviewng the websites ofthecharity Commission and The Office oftheThird Secbx. attending relevantsemIna￿ and webinars and reading relevant periodicals. Key management pgrsonnel rnmuner*ion The Trustees consider Ihe board of trustees as comprising the key mnagement pefsonnel of the Charity in charge of directing and conlrolling the Charty and running and operdb.ng the Charity on a day to day basis. All the Trustees gi¥e of theirtirne freely and no tnjstee remuneral'on was paid in the year. None of the Trustees received teimbursement of any expenses and there were no relaled paty transactions any of the Trustees. Independent examination For many years the Trustees opted to have Chanty's annual accounts audited. even Ihough an audit was not required by law. However. in recent yeats an audrt had beLx)me increasirlgly onerous and costty. Having regard to this and recent broadening of the scope of an independent examination. the Trustees have dwded trj have an lindependent examinat￿ of the Chanty's annual a¢xouTrts. as they consider this lo give suffiecient conifort lo exisling and luture donors. Accordingly. the Tnjstees have appointed Goldwins lo carry out the independent examination of the Charity's annual accounts and they have replaced the previous fim of audrtors. Slatsment of Tru5tees' resw>nsibilltks The Truslees are responsible for preparing the Tnjslees, annual report and the financial statements of the Charity in aCCordar￿e wth applicable law and United Kingdom A(Lountr'ng Standards (Unrted Kingdom Generally Accepted Accounb"ng Pradicel. The Saw requires the Trustees to prepare accounts for each financial year which give a true and fair view of Ihe state ollhe Chanty ar￿ of the incoming resources aftd application of resou￿5 of the Charrty for Ihal year. In Pfeparing these attounts the Tr{￿1￿ are required to: select suitable accwntin9 poliues arKI then ap￿Y It￿ consistently. observe the ￿thC#Y$ and principles in the Charth"es SORP: make judgements arHJ eslimales that are rea￿nable and prudenL' state whether applicable account.ng starKlards have be8n fdlowed. subject to any material departures disclosed and explained in the ar￿Unts. and prepare the aca)unls on the going o)ncem basis unless rt is inappropriate to presume that the Charity will conb.nue in operation. FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOUM) TRUSTEES, ANNUAL REPORT Statemert of Tn￿lee$, responsibilit￿S (continued) The Trustees a￿ responsible for keeping proper ac￿U￿tIng records that disclose with reasonable accuracy at any b.me the financial posrt￿n of the Chanty and enable them lo ensure that the accounts comply with Ihe Char¥lies IAc¢x>unls and Reports) Regulations 2011 and the provisions of the Rules constrtuting Ihe Charty. They are also responsible for safeguarding Ihe asset5 ofthe Charily and hence for taking reasonable steps for the preven*"on a¥KI detection of fraud and other irregulaiiiies. Sofar as each of the Trustees is aware: a) the￿ is no relevant irrforrnatr)n of whith Ihe independent examiner is Linaware: and bl the Trustees have tsken all relevant steps that they ought to have taken to rnake thernselves aware of any relevant infomialK)n artd to establish Ihat the independent examiner is aware of that informalson. On behall ol the Trustees