Charity rnglstratlon nEFmber 251737 Comp¥ny registration number 00836699 {England and Wal•$l TIFERETH BENEVOLENT FUND LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TIFERETH BENEVOLENT FUND LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Govemo Mr Henry Neumann Mr Philip Weis5 Mr Hytn3n Weiss Mr Pinchas Neumann Mr Maurice Neumann Charity number 251737 Company number 00836699 PAncipal addr•¥$ Healon House 148 Bury Old Road Manchester M7 4SE R•glsternd offl¢e Heaton House 148 Bury Old Road Manchester 74SE Indop•ndènt èxaminer Lopian GfOSS Barnelt & Co 1st Floor CIoi51ei House New Bailey Street Salford M35FS TIFERETH BENEVOLENT FUND LIMITED CONTENTS Page Governors. report Independent examinerfs report statement of financi81 actiwlies Balance sheet Notes lo the finanaal stalèmanls 6-10 TIFERETH BENEVOLENT FUND LIMITED GOVERNORS. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The goveinors present Ihelr annual report and financial stalements for the year ended 31 Nlarch 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document. tho Cornp8nie5 Act 2006 and Accounting and Reporting by Charities.. Slalemenl of Recommended Practice appl*cable lo charities preparing their acco¢Jnts in accordance with the Financi81 Reporting Slandaid appli¢able In the UK and Republic ot Ireland IFRS 1021" las amended lor accounting p6ritids commencing from 1 January 20161. Obj•etlvè$ and a¢￿vItI•$ The charity's objèctives are to aid the advancement of religion in accordance with the Orthodox Jewish faith and the relief ol povety and other chaiitable PUTposes for the public benefit. The policies adopted in furtheian¢e of these objects are lo identify Orthodox Jewish Charities which carry out activities such as providin9 Orthodox JewTrsh education and other acts'vilies which advance religion in accordance with the Orthodox Jewish faith or wh￿h relieve poverty and there has been no change in these during Ihe year. Each year. the govemors confirm that they have referred to guidance contained in th¢ Chafity Commission general guidance on public benefit when reviewing the charity's aims and objectives and in plannrTFg future activilitrs and setting the grant makin9 policy lor the year. The Charitls income is generated frorn its Subsidiary and charitable donations whi¢h are then distfjbuled to meet the above objectivès. The governors have paid due regard to guidanc6 issued ty the Charity Gommi3sion in deciding what activities the charity should undertake. Achiovem•nts and perfomiance During the year the chaiily made donations lo a variety of charities within the Jewish community. The governors are pleased with thè investment performance by the charrty's subsidiary and with the level of donation5 given lo worthy causes. Financial review The govèrnor5' snvestment pov4èrs are governed by the Charitys Memorandum ofAssocialion whth permits ihe company to invest as may be determined by the govemors. The charitys subsidiary ¢onb"nue5 to generate its income from in￿S*'n9 in property and lo pay ils taxable profit to the charity. The charity received income of £39,429 {2023' £19,387) and £3412023.. £61 of bank interest. Accordingly, the lolal of incoming resources was £39.4631£2023'. £19,393), resurting in 8 surplu5 of £34,860 after expenses of £4,603. The tharity distributed £27,57012023". £23,SOO) lo various charities for the reliel of poverty and the advancement of religion in accordance with the Orthodox Jewish faith, resulting in 8 £7,290 increase in reserves. There is no foimal policy to maint3in a sel level of reserves. The governors, invèstrnenl powers are governed by the charily's memorandum of associatlon that permits the charity to invest as may be deleTmined by Ihe govemors. The governors have assessed th8 major risks lo which the charity is exposed, and are s*isfied that systems are in place lo Fniligale exposure lo the major risks. structure. governance and management The charity 15 a company limited by guarantee. It was incorporated on 04 February 1W 3nd registered as charity on the same day. The cofflpany was established under a Memorandum tsfAssocialion which established the objects and powérs of the charitable company and is govern￿ under it5 Articles of as50cialion. TIFERETH BENEVOLENT FUND LIMITED GOVERNORS, REPORT {CONTINUED)(INCLUDING OIRECTORS. REPORT} FOR THE YEAR ENDED 31 MARCH 2024 The govemors, who are also tha diieclors for the purpose of company taw, and who servod during the year weie.. Mr Henry Neumann Mr Philip Weiss Mr Hyman Weiss Mr Pinchas Neumann Mr Maurice Neumann Governors are recommended and appointed by the board of governors, ITaining would be offered to new governors by the existing governors. None of the govemors has any benèficial interest in the charity. All of the govemors are members of the charity and guarantee to contribute an amount not exceeding £1 in the event of a wnding up. All de¢tsions made on behaw of the charity are rnade by ihe govemors who are responsible forthe provision of mèans to distritiute charitable donation5 to worthy causes. The govemors, report was approved by the Board of Governors. Mr Hyman Weiss Governor Dated.. TIFERETH BENEVOLENT FUND LIMITED INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF TIFERETH BENEVOLENT FUND LIMITED I report lo the governors on my examination of the accounts of Trferèth Bènevolent Fund Limrttrd Ilhe charity) for the year ended 31 March 2024. which are set out on pages 4 to 10. Rèspèetlve rèsponsibilities of governors and èxamrner As the govemors of the charity land also its dtrectors for the purposes ol wmpany lawl you are re5ponsiNe foi the preparation of the financAal slaternents in accordance with the requiremtsnls of the Companie5 Act 2006 (the 2006 Acll. Hawng satisfied mysell that the financial ststemenls of the charity are not required to be audited under Part 16 of the 2006 Act and are eligiblo for independent examination, I report in respec( ol my examination of the charrty's financial statements carrièd out under sedion 145 of the Charities Ad 2011 Ilhe 2011 Act). In carrying out my eKaminalion I have followed all the applicable Directions given by the Charity Commission under sectron 14515)Ibl ol the 2011 Act. Independent examinerf$ statement I have completed my examination. I confim Ih8t no matter5 have come to my attention in connection with thg exarnination giving me cause to believe that in any material respect.. accounting Fecords were not kept in rèspect of tho charity as rtrquired by section 386 of the 2006Ad,' oi the financial statements do not accord with those records.. or the fjnancial statements do not Gomply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair wew which is not a matter considered as part of gn independent examination.. 01 the financial statements have not been prepared in 8ccordancè with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by ¢harities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R&public of Ireland IFRS 1021. I have no con¢ems and have come across no other matters in connection with the examination to which 3ttention should be drawn in this report order lo enable a proper understanding of the finanaal slalements to be reached. Jason S6iig Lopian Gross Barnett & Co Chartered Accounlanls 1 sl Floor Cloister House New Bailèy Street Salford M35FS Dated.. .30J.0.1120.25 TIFERETH BENEVOLENT FUND LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notès Income from.. Donation5 and legac￿$ Inveslments 39,429 34 19.387 Total income 39,463 19,393 enditure on: Charitable 8¢1ivities 27,570 23,500 Other 4,603 3,689 Total r•sourcès expended 32.173 27.189 Net Incomell*¥pendituro1 for the ytrarf Net movement funds 7.290 17,7961 Fund balances 811 April 2023 16,100 23.896 Fund balan¢es at 31 March 2024 23,390 16,100 The stslomènl of financial activitws indudes all gain5 and losses recognised in the year. The $lat8menl of financial aetivities includes all gains and losses recognised in Ihe year. All Fncorne and expenditure derive from ¢onlinuing a¢tiv(tps. The statement of finanaal activities also complies WFth the requirements for an income and expenditure account under the Compani?$ Act 2006. TIFERETH BENEVOLENT FUND LIMITED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Investtnents Current assets Debtors Cash al bank and in hand 10 100 100 q1 1.279 32,746 1.279 29,264 34.025 30.543 CredFtors- amounts falllng due wlthin one year 12 (10,7351 114,5431 Nel cuirenl assets 23,290 16.000 Totsl assets le$$ current liabllitFes 23,390 16.100 Income funds Unreslri¢ted funds 23,390 16,100 23,390 16.100 The comp8ny is entided to the exemption frorn the audit requirement contsined in section 477 of the CompaniesAcl 2006, for the year ended 31 March 2024. The Iruslees acknowledge their responsibilities for ensuring that the charity keeps accounling records which comply with section 386 of the Act and for preparing finan¢Fal stslemenls which give a true and fair view of the slate tsf affairs of the company as at the end of the finanoal year and of its incoming resources and application of resources. includin9 115 income and expenditure, for the financial year in accordan￿ with the requirements of sections 394 and 395 and wh¢ch othe￿ise compty with the requirements of the Compani6s Act 2006 relaling lo financial statements, 50 far as applicAbla to the Company. The members have not required th¢ ¢(mpany lo obtain an audit of its financial statemènts for the year in question in a¢coFdancè with secb'on 476. These financial statements have been prepared in accordance wrfh fhe provi5ion5 applicable lo companies subjè lo the small companies regime. The financial statements were approved by thè Govemors on . 3010112025 [-[ Mr Hyman Weiss Governor Company R¢gi$tratlon No. 00836699 TIFERETH BENEVOLENT FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Aecounting pollcles harity infomiatlon rife￿th Benevolent Fund Limited is a private company limited by guarantee incorporated in England and Wales and a registered chacity in England and Wales. The registered office is Healon House. 148 Bury Old Road, Manchester, M7 4SE. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's Deed of Trust, the Companies Ad 20C and 'Accounting and Reportlfig by Charities.. Statement of Recommended Practice applicable to charities pieparing their accounts In a¢¢ordance with the Financtal Reportrng Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended foi attounling pariods commencing from 1 January 20161. The charity is a Public Benefit Entity as defined ty FRS 102. The charity has lakerTr advantage of the pro￿$10￿$ in the SORP foi charities applying FRS 102 Update Bulletin 1 not to prepare a Sl*emenl of Cash Flows. The financial slalernents are prepared in slerfing, which is the fun¢tional wrrency of the charity. Monetary amounts in these financial slalernenls are rounded lo the nearest £. The financial slaternents have been prepared under the historical c051 convention. The principal 8¢counting policiès adopted are sel out below. 1.2 Going concem Al the time of approving the financial statements. the governors have 8 reasonable expect*on that the charity has adequate resources to continue in operational existence for the foieseeable future. Thu5 Ihe 90vernors continue to adopt the going concem basis of accounting in preparing the financial stalernents. 1.3 Charitable funds UnreslriGted fLtnds are available for use at the discretion of the governors in furtherance of their charitable objectives unless the funds have been designated for other purposes. Funds held by the chafily are all unrestricted. These being funds which ¢an used in a¢cordance with the charitable objects at the discrelKJn of the gOvern￿S. 1.4 Incoming r*sourco$ Incorne Is recognised when the charity is logally entided to it after any performance conditions have been met. the amounts can be measured reliably, and it is piobable that income will be received. Cash donations are recognisod on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation lo donations received urTrd6r Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If Ihe amount is not known, the legacy 15 treated as a onlingenl asset. l.S Resourcfys èxpended Charitalbe dislibulSons ￿present donations paid lo ￿lIgiOus, educ8llonal and Similar ¢harilie$. 1.6 FIX￿ asset Snvestm•nts A 5ub5idiary is an entity controlled by the charity. Conlrol is the power lo govern the financial and operating polioes of the entity so as to obtain benefits trom rts actiwties. TIFERETH BENEVOLENT FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcle$ Icontlnuèdl 1.7 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held al call with banks, other short-lerm liquid inve51menls with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in ¢urrenl liabilrtie$. 1.8 Financial instruments The charity has elected to appty the provisions of Section 11 '8asic Finanual Instruments, and Seclion 12 'Other Financial Instruments IssLies' of FRS 102 to all of its financial instruments. Finanrjal instnJm&nls are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the in$trumenl. Financial ass&ls and liabilities are offset, with the nel amounts presenled in the financial stalements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to setde on a net basis or to realise the asset and settle the liability Simultaneou￿Y. Baslc finaneial ès5ets Basic financsal asset5. whith inelude debt015 and cash and bank balances, ale initially measured at transaction price in¢luding Iran$8Ction ¢osls and a￿ subsequently carried at 8mortised cost using the effective interest method.Fin3ncial as5els classified as rwivablè within one yaar ara not amortised. Baslc flnan¢ialliabllhies Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless the arrangement constitutès a finantin9 transactton. 1.9 Group accounts The finan￿al statements present infomalion aboul the charlty as an individual undertaking and not about tts group. The charity and ils subsidiary undertaking comprise a smalksized group. The charity has therefore tskon advantage of the exemptions prowded by section 399 of the Companies Act 2006 not to prepare group a¢covnls. Income from donatlon$ and kgacl8s Unr¢$trietsd funds 2024 Unrèstrictèd funds 2023 Donations and gffts 39,429 19.387 Donations include £18,92912023 '. £19,387) from the Charity'5 subsidiary. Income from investm•nts Unrestricted Unrestrlcted fund$ fvnds 2024 2023 Interest recèwable 34 TIFERETH BENEVOLENT FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activltles 2024 2023 Direct eosts Grant funding of activities {see note 5} 27.570 23,500 Analysis by funiS Unrestricted funds 27,570 23.500 Grants payable 2024 2023 Orthodox Jewish Edu¢alion and religious studies Advancement of religion and the Orthodox Jewish faith Relief of hardship and poverty in the Jewish community 11,22S 11.025 5.320 5(Kl 20,000 88,050 27,570 23,500 Material grants were made to the following bodies In the following amounts.. e and Learn Chernobel Schul The Friends of Maasse Tsedokoh Yeshivas Gedolah London 10.000 10,000 5,000 1.000 26.000 Gov•mo Non? of the governorn lor any persons connected with thernl received any remuneration during the year. Employees The¥e werè O employees dursng tha yèar12023." 0). TIFERETH BENEVOLENT FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other 2024 2023 Accountancy fees Sundry expenses Bank charges and interest 2,440 2.118 45 3.040 603 Taxation Thè activities of Tiferelh Benevolent Fund Limited are exempt from direct taxation under Part 11 of Corporation Tax Ad 2010. 10 Fixod asset Snvostmonts Unlistèd investments Cost or valuation At 1 April 2023 S 31 March 2024 100 Carrying amount At 31 March 2024 100 At 31 March 2023 100 11 Debtors 2024 2023 Amounts falling due withln one y¢or: Other debtors 1.279 1.279 12 Creditors: amounts falllng du& wlthin ontr year 2024 2023 Trade creditors Amounts owed to stJb5idrary Underta￿.ngs Olher none). 10-