Charity registration numb&r 210472 FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOLIM) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIM} LEGAL AND ADMINISTRATIVE INFORMATION Trusteos Simon Sackman (President) Richard Limburg Joy Goldberg Charity number 210472 Principal address Suite 69 Churchill House 137-139 Brent Street London NW4 4DJ Independent Examiner Anthony Eplon BA FCA CTA FCIE Goldwins Chartered Accountants 75 Maygrove Road Wesl Hampslead London NW6 2EG Principal bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIM) CONTENTS Page Trustees, annual report Independent examiner's report Statement of financial activities Balance sheet ststement of cash flows Notes lo the financial statements 10-14
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIMI TRUSTEES, ANNUAL REPORT The Trustees are pleased to present thelr report and the Charity's f5nancial stslements for the year ended 31 Dernber 2024. The financial statements, which are prepared in FX)unds sterfing being the functional currency of the Charity, have been prepared in accordance with the accounting policies set out in the notes lo the financial statements and comply with the Charity's Rules which are its governing document, the Charities Act 2011 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their acctsunts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191" Ilhe Charities SORPI. Stru¢ture. governaneè and managBment Friends of the Sick {Chevrat Bikkur Choliml is an unincorporated association that was established in 1947. It was registered with the Charity Commission as a charity on 30 January 1961. The Charity's website is www.ukfos. Tru$tg9S The following trustees held office throughout the ye3r-. Simon Sackman (President) Richard Limbuyg Joy Goldberg The TTUStees have read, and are cognisant of, the guidance relating to public benefit issued by the Charity Commission. Objective The mission of Friends of the Sick Ichevrat Bikkur Choliml is lo provide companionship. emotional support and practical assistance for vulnerable members of the Jewish community in London. We aim lo help Individuals living alone or struggling with old age or physical or mental illness. We do this primarily through home vislts to clients by one of our trained support workers,. we also prOVde telephone support. What we do may not grab the headlines, but it often makes a significant and very positive difference to the lives of our clients. A visit by, or conversation with, one of our support workers provides the social interaction and mental stimulation that in this internet age many desperately need. Something as simple as a chat over a cup of tea, helping with an email or taking someone for a walk can give a big boost to a person's self-esteem. Clients look forward to the regular visits or calls from their support workers and many form 18sling friendships. What we do c8n also help the partners and relatives of clients. who welcome the respite that our support workers provide. Activlty In 2024 Friends of the Sick employed nine female support workers, the majority of whom have worked for us for many years. Al our support workers are Jewish and are therefore familiar with Kashrut and other Jewish customs that are important to clients. During the year we provided over 2,300 hours of support lo 19 different clients living in Edgware, Finchley, Golders Green, Hampstead. Hendon, Mill Hill and Swiss Cottage. Our procedure ft)r taking on new Clients is slr8ighfforward and involves minimum bureaucracy, typic811y no more than a couple of phone calls and an initial meeting wlh the assigned support worker. We tailor our services according lo the specific requirements of the individual client, be il help with shopping once a week. several visrts lo prepare meals or one-off assistance in getting to a GP or hospital appointment.
FRIENDS OF THE SICK (CHEVRAT BIKKUR CHOLIMI TRUSTEES, ANNUAL REPORT The welfare of our clients is our number one concem. To minimise the risk both lo dient and support worker, many of the operational protocols that were introduced during COVID remain in place. For example, all support workers were throughout the year provided with appropriate personal protective equipment for every visrt they made. Friends of Ihe Sick has been seNing vulnerable Jewish people in London for almost 80 years and as a result is well known to many in the community through its extensive donor base and its links with welfare organisations and medical services, non-Jewish as well as Jewish. For many years we have had a close relationship with Jewish Care social wotker teams, who provide the majority of our client refeals. In 2024 clients were also introduced by the Association of Jewish Refugees and Barnel Social Services. During the year the General Secretary met with representatives of Jewish Care, AJR, PapeNeight. Bamet Social Services and Temple Fortune Medical Group. Flnancial revlew In ALsgusl 2024 the Charity was fortunate to receive an exceptional single donation of £76,084 from the Arthur and Rosa Oppenheimer Fund, a charitable trust that had been established by Arthur Oppenheimer, the son of the late Arnold Oppenheimer z'l who founded Friends of the Sick in 1947. Arnold Oppenheimer was closely involved with the Charity during the remainder of his long life, and he and his son generously supported ils work over many years. The Charity is extremely grateful for this donation. not least because il maintains a tangible link with our founder. In 2024 total income. including the exceptional donation. was £160.528. an increase of 68.2 per t. on the previous year12023.. £95,440}. Total income. excluding the exceptional donation, was £84.444. The main Sour of income was donation5 from individuals and charitable Irusls, including the exceptional donation, which amounted to £114.949 {2023.. £58,827). The majority of donations other than the exceptional donation were in response to appeals at Rosh Hashanah and Pesach. The amounts raised from these appeals were most heartening given the continuing focus on the sad events in Israel. No legacies were received in 2024 or in 2023. The next largest source of income was contributions trom clients for our serVceS (shown in the Statement of financial activities as income from 'Charitable aclivilies,) 8t £27,98012023'. £23.5191. This covered some 64 per cent. of the salaries and travel expenses of support workers and supply of PPE. As a charity, we deliberately sel our charges lo dients al a level which is significantly lower than the cost of equivalent seryices available from commercial agencies and in appropriate circumstances we are prepared to reduce ourcharges or waive them altogether. We n8ver tum someone awayforfinancial reasons. The Trustees remain eonscious of the need to control costs. In 2024 the Charity continued lo operate remotely through 8 Vlrtual Offi and did not incur any property rental costs. Despite paying support workers an houdy rale above the London Living Wage plus their travel expenses for each visit and the costs of providing support workers with PPE, total expenditure in 2024 at £94.088 was only 2.4 per cent. higher than in the previous year12023.' £97,889), which was broadly in line with CPI inflation. As a result of the exceptional donatron referred to above, the Charty had a net surplus for the year before unrealised profit on ils listed investments (see Investments below) of £66,44012023'. net surplus of £3,551). If the Charity had not received the exceptional donation. the net deficrt for the year would have been £9,644. Investrnonts In accordance with good governance, the Trustees regularfy review the Charity's investment policy seeking to balance the need lo maintain sufficient cash in immediate access accounts to meet operating expenses against higher yielding listed investments and bank deposits. The Trustees select investments based on r8search and taking into account the Charity'5 medium and long-term requirements. As at 31 December 2024 approximately 45 per cent. of Charity's net assets were represented by listed investments and approxirnately 39 per cent. by term deposits with vanous banks.
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIM} TRUSTEES, ANNUAL REPORT Investments {contlnuedl Throughout 2024 the Charity maintained its holding of 12,534.57 Income units in M&G Equities Investment Fund for Charitie5 Icharifundl that the Charity has owned for many years. Charifund is a unil INSI managed by M&G Securities Limited. that. as its name implies, is specifically aimed at charities. Charifund aims to provide an annual yield above that available from the FTSE All-share Index., an income stream Ihal increases every year- and a level of caprtal growth, net of ongoing charges of 0.47 per cent.. that is higher than in11ation over any ten-year period as measured by the UK Retail Prices Index. Al least 70 per nt. of the fund is invested in the shares of companies that are based or do most of their business in the UK. ChaTifund Tnakes distributions four times a year, which prtxjuces a regular and relatively stsble source of income for the Charity. In 2024 income from Charifund units was £14,912. an increase of over 39 per cent. compared with the previous year12023'. £10,717). This income represented some 9.3 per cent. of the Charity's lolal income for the year. including the exceptional donation referred to above. As at 31 December 2024 the market value of the Charifund units held by the Charity was £184.558, an increase of £4,688 over the previous year-end12023.' £179,870). As a result of this increase in market value dunng the course of the financial year, the Statement of financial activities shows a surplus on investments for the year of £4,688 12023-. Deficit 1£4.32811. As at 5 September 2025 Ithe latest practicable date before the finalisation of these accounts) the market value of the Charifund units was £200.841. Funds not invested in Charifund units and not required for short-lerm oporational purposes, which funds included the exceptional donation referred to above, are placed on deposit with variou5 UK banks. As 81 the year-end the Charity had approximately £158,000 on either 1-year term or call deposits earning interest of between 4.3 per nt. and 5.0 per cent. Save for one term deposit which will mature in 2026, these deposits matured on various dales in 2025 and the proceeds have been re-invested in new 1- year term deposits. Rlsk management The Trustees are responsible for the management of risks fad by the Charity and all the Trustees are involved in considering and assessing those risks, both financial and non-financial. The controls in place include.. regular trustee meetings., a fomal agenda for trustee meetings., planning and budgeting for financial commitments, including investments held., vetting procedures as required by law for the protection of the vulnerable., and regular risk assessments. The Trustees consider that they have identified the major risks faced by the Charity and are satisfied that appropriate steps have been taken, and continue to be taken, to mitigate such risk5. Reserves are maintalned at such a level as to enable the Charity to carry on meeting its charitsble obJective5 for a minimum of a year should its income redu substantially.
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIM) TRUSTEES, ANNUAL REPORT Recrultment of trustaès and tralnlng The composition of the Charity's board of trustees is reviewed regularfy with a view to achieving a spread of expertise. age and gender designed to facilitate the achievement of the Charity's objects. The Trustees seek lo recruit members of the Jewish community living or working in areas in which the Charity operates who have an interest in the Charity's aims and the requisite skills. The Trustees keep up to date on their responsibilities by various means. such as reviewing the websites ofthe Charity Commission and The OITice of the Third Sector, attending relevant seminars and webinars and reading relevant periodir21s. Key management personnel remunoration The Trustees consider the board of trustees 85 comprising the key management personnel of the Charity in charge of directing and controlling the Charity and runnirng and operating the Charity on a day lo day basis. All the Trustees give of their time freely and no remuneration was paid to any of the Trustees in the year. None of the Trustees reiVed reimbursement of any expenses and there were no related party transactions with any of the Trustees. Staterngrrt of Trustees, responslbllltles The TTUStees are responsible for preparing the TTuslees' annual report and the financial statements of the Charity in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law requires the Trustees lo prepare accounts for each financial year which give a true and fair view of the state of the Charity and of the incoming resources and application of resources of the Charity for that year. In preparing these accounts the Trustees are required to-. select suitable accounting policies and then apply them consistently.. observe the rnethrxls and principles in the Charities SORP.. make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts., and prepare the accounts on the going concern basis unless it is inappropriate lo presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any time the financial pos11ion of the Charity and enable them to ensure that the accounts comply with the Charities IAccounls and Reports) Regulations 2011 and the provisions of the Rules conslituting the Charity. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIMI TRUSTEES, ANNUAL REPORT So far as each of Ihe Trustees is aware. al there Is no relevant information ol which the independent examlner is unaware.. and bl the Iruslees have taken all relevant steps that Ihey oughl lo have laken lo make themselves aware Df any relevanl Infomialion and io esiablish Ihal the Independenl examiner is aware of that ir)formation. On behalf of the Trusteas tf, LL 26? Simon Sackman President and Truslee
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIMI INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIM} l pOrt to the TTUStees on my examination of the accounts of Friends of the Sick Ichevrat Bikkur Choliml (the Charity) for the year ended 31 Dember 2024. Rospon5ibilities and basls of report As the charity trustees of the Charity, you are responsible for the preparation of the Charity's accounts in accordance with the requirements of the Charities Act 2011 Ithe Act). I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act. In carrying out my examination I have followed 811 the applicable directions given by the Ch2tity Commission under section 14515llbl of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come lo my attelllion in connection with the examination giving me cause to believe that In any material respect- acunting records We not kept in respect of the Charity as required by section 130 of the Act., or the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requirements concerning the fonn 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 concem8 and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road Wesl Hampslead London NW6 2EG .9 September 2025
FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOLIMI Statement of financial adivitlgs forthe year ended 31 December 2024 Total Total funds funds 2024 2023 All unrestricted NotÉ* Income Donations and legacies Charitsble activities Investment income 114,949 27,980 17,599 58.827 23,519 13,094 Total income 160.528 95,440 Expenditure Raising funds Charitable activities 14,7041 189,384} 15,038) 186,8511 Total expenditure 194,088) (91.8891 Nel surplus 66,440 3,551 Net surpluslldeficitl on investments 4.688 {4,3281 Net movements in funds 71.128 (7771 Total funds brought forward 333,718 334.495 Total funds carrièd forward 404,846 333.718
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIMI Balance sheet as at 31 December 2024 2024 2023 All unrestrlcted Note Flxed assets Investmer)ts 184,558 17g,870 Total flxed assets 184,558 179,870 Current assets Deblors Cash al bank and in hand 5,976 219.125 4,561 153,524 Total current assets 225,101 158,085 Llabllltles Creditors. Amounls fallThg due within one year 14,8131 14,2371 Net current assets 220.288 153,848 Total net assets 404,846 333,718 Tha funds of the Charlty: Unreslricled funds 404,846 333,718 Total funds of the Charlty 404,846 333,718 The Board of Trustees approved the accour)ts or) 202r Simon Sackman - President and Trustee Richard Lim Trustee
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIM) Statement of cash flows for the year onded 31 December 2024 2024 2023 Cash flows from operating activities: Nel cash gènerated byJ(used in) Dporalin9 activilias 48,002 (7,3711 Cash flows from investing activities: Dividends and interest from investments 17.599 13,094 Net cash provided by investing activities 65.601 13,094 Net cash generated by financing activities 65,601 5.723 Change in cash and cash equivalents in the reporting period 65,601 5.723 Cash and cash equivalents at start of the reporting period 153,524 147.801 Cash and cash equivalents at end of the reporting period 217,621 153,524 Analysis of cash and cash equivalents Cash at bank - Current and deposit accounts 219,125 153.524 Net surplusllexpenditure) for the reporting period (as per the Statement of financial activiliesl 71,128 (777) Adjustments.. Unrealised (profillllosses on investments Dividends and interest on investments IlncreasellDecTease in debtors IncreasellDecreasell in Creditors {4,688) 117.599) {1.415) 576 4,328 113,0941 3,725 {1,553} Net cash generaledllused inl operating activities 48,002 17,3711
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIMI Notes to the financlal statements for the year ended 31 Decembèr 2024 Accountlng policles Basis of preparation of accounts The financial slalemenls have been prepared in accordance wth the Charity's goveming document. the Charrties Act 2011 and "Accounting and Reporting by Charities.. Statement of Re(x)mmended Practice applicable to charities preparing their accounts in accordance with thè Fin8n¢ial Reporb"ng standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191" The financial slaternents have departed from the Charities IAc(x)unts and Reports} Regulatsons 2008 only lo the extent required lo provide a true and fair view. This departure has involved following the Slatemerit of RerA)mmended Pradice for chartties applying FRS 102 rather than the version ol the Slalemenl of Recommended Practice whiGh is referred to in the Regulations bul which has since been withdrawn. The financial slalemenls are prepared in slorfing. which is the fundional currency of the Charity. Monetsry amounts in the financial slalemenls are rounded lo the nearest £. The financial statements have been prepared under the hislorieal ¢x)51 convention modified lo include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are sel out below. Publlc benefft entlty The Charity constitutes a public benefit entity as defined by FRS 102. The Charity ts an unincorporated association that is domiciled in England and Wales. Income and endowmènts All items of income are accounted for when the Charity is enlilled lo the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied lo Particular categories of income: Voluntary incomo received by way of donations and grants is included in full when receivable and credited to either unrestricted or restricted income as appropriate. Contributions from clients are accounted for on a receivable basis, after making provision for bad or doubtful debts. Investment income Is included when reiEivable. Legacies are accounted for as incoming resources, either on receipt or where the receipt of the legacy is virtually certain. The latter will be once confirmation has been received from the repsentativeS of the estsle that payment of the legacy will be made or propety transferred On all conditions attached to the legacy have been fulfilled. Grants Grants, whether from Government. Local Authorities OT Others, are recognised as an incomlng resource when the Charity becomes entitled to them, which is when a formal offer of funding is (xjmmunicaled in writing lo the Charty. io
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIM} Notes to the flnaneial statements for the year ended 31 December 2024 Accounting policies Expenditure ExpenditLtre includes irrecoverable VAT where applicable and is induded on an accwals basis. Charitable expenditure comprises those costs incurred by the Charity in the delivery of ils activities and services for ils beneficiaries. 11 includes costs that can be allocated directly to such activities as well as those costs of an indirect nature lo support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include independent examination fees and costs linked to the strategic management of the Charity. Flxed asset investments Fixed asset investments are primarily held to generate income and are included initially at cost price and subsequently at fair value Imarkel value) 81 the balance sheet date. The Statement of financial 8Ctivities indudes the nel gains and losses on revaluation and {rf applicable) disposal during the year. Flnancial instruments The financial instruments of the Charity comprise bank balances, including monies on deposit, and debtors and creditors. Bank balances are accounted for based on cash held. Debtors and creditors are included al amounts settled after any discounts. Fund accounting Funds held by the Charity are either.. Unre51ricted funds, which may be used in accordance with the charitable objects of the Charity at the TTUStees' discretion., or Restricted funds. which may only be used in ac£Ordan with the wishes ol the relevant donors. Critlcal accountlng estimates and judgements In the application of the Charity's a¢(x)unting policies the Trustees are required to make judgements and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from Ihese estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates 8re recognised in the period in which the estimate is revised where the revision affects only thal period. or in the period of the revision and future periods where the revision affects bolh current and future periods. li
FRIENDS OF THE SICK {CHEVRAT BIKKUR CHOLIM) Notes to the flnancial statements for the yèor ended 31 Oecember 2024 Donatlons and legacles Total 2024 Total 2023 Donations 114.949 58,827 Income from charltable activlties 2024 2023 Contributions from clients 27,980 23,519 Investment Income 2024 2023 Income from listed investments Bank and other interest 14.912 2,687 10,717 2,377 17,599 13,094 Raising funds 2024 2023 Appeal expenses 4.704 5.038 4.704 5,038 Charttablo activitles 2024 2023 Support worker5. salaries Support workers, travel expenses and personal protective equipment Administration and IT costs Bank and credit card chaTges Independent examinels fee 40,204 37,790 3,545 40,953 182 4,500 4,186 40,694 221 3.960 89,384 86,851 12
FRIENDS OF THE SICK (CHEVRAT BIKKUR CHOLIMI Notes to the flnancla1 statements for the year ended 31 December 2024 Govornance costs G0Veman cosls included in charitable activities are= 2024 2023 Independent examiner's fee 4,500 3,960 Salaries 2024 2023 Support workers. salaries Office and adminislralion salaries Pension contribution$ 40.204 32,500 3.500 37,790 32,500 3,500 76,204 73.790 The number of employees during most of the year was 1012023.'81. which included 912023.. 7} support workers. No employee earned over £60,000. The Trustees are the key management ofthe Charity and no remuneration was paid, or expenses reimbursed, to any of them. Flxed asset Investments Listed Investments At 1 January 2024 Revaluation 179,870 4,688 At 31 December 2024 184,558 The listed investments comprise 12.534.57 Sterling Income units in M&G Equities Investment Fund for Charities Icharifundl, which is managed by M&G Securities Limiled. 13
FRIENDS OF THE SICK ICHEVRAT BIKKUR CHOLIMI Notes to the financial statements for the year ended 31 December 2024 10 Dabtors 2024 2023 Other debtors Accrued Income Gift Aid recoverable 2.016 3,645 315 2.335 7,819 407 5,976 4,561 11 Creditors: Amounts due wlthln one year 2024 2023 Taxation and social security costs Other creditors and 2ccruals 313 4,500 277 3,960 4,813 4,237 13 Golng concern The Tnjstees are of the opinion that the Charity is a going COnM for the foreseeable future. 14 Related party transactlons Includlng trustee expenses There were no transactions with any of the Trustees and no Tnjstee received any emoluments or expenses. The Charity has put in place Iruslee indemnity insurance, the annual premium for which was £257 {2023.' £351 }. 15 Taxatlon The Charity is a registered charity and not liable lo tax on its charitable activities other than value added tax paid, which is not recoverable. 14