## NOTZAR CHESED ## CHARITABLE TRUST ## TRUSTEES REPORT AND ACCOUNTS ## FOR THE YEAR ENDED 31 DECEMBER 2022 ## Charity No 282464 ## NOTZAR CHESED CHARITABLE TRUST Charity Information Trustees D.Frand S.Gluck M.Grossman Charity Number 282464 Charity London Offices 31 Heathland Road London N16 5PG Auditors A.S. Kelser & Co Financial Services Riverside House Leaside Road London E5 9LU Bankers HSBC Bank PLC Finsbury Park Branch London N4 - 1 - ## NOTZAR CHESED CHARITABLE TRUST Contents Page 3-4 5 6 Balance Sheet 7 8-10 - 2 – ## NOTZAR CHESED ## CHARITABLE TRUST ## TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their report and accounts for the year ended 31 December 2022 ## TRUSTEES The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. ## INVESTMENT POWERS The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held. ## CONSTITUTION, OBJECTS AND POLICIES The Charitable Trust is constituted by Trust Deed, and its objects are to provide for the relief of poverty and the advancement of religion and religious education. In order to do this, the charity obtains donations from the Jewish public with the sole object to enable it to make distributions to the needy and poor through its local branch offices and its head office based in Jerusalem. The policy of the Trust continues to be to seek donations and support, to continue its work to help alleviate poverty where-ever possible. ## DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS The trustees consider that the performance of the charity this year has been satisfactory. During the year, £1,098,209.00 was distributed in UK and sent abroad. The money was used: To distribute monetary grants for educational and social purposes, to buy food for free distribution to numerous needy families, to buy additional equipment i.e. crockery, cutlery and furniture which are lent free to families where social deprivation is a major problem, to help homeless families find homes by way of giving grants or paying for fixed and/or temporary accommodation, and operate non-profit-making shops supplying goods and food at cost price to families vetted by a committee for their eligibility to receive these benefits. - 3 - ## FINANCIAL REVIEW Some increase in donations was noted this year in spite of general difficult economic situation , as the positive publicity we receive, by recommendations of our good work, passed on by our existing benefactors to their acquaintances and friends, urging support of our work, is not abating in the last. Office overheads were generally unchanged during the year. It is anticipated that continued support for the longer term will continue. So far an appeal direct to the public is not taken into consideration unless it appears that sufficient funding is not forthcoming. ## FUTURE DEVELOPMENTS Trustees are seeking ways to increase public awareness of the excellent work the charity does, and will attempt to seek new areas where, in their opinion, its objects can be further extended, for the benefit of their clients ## STATEMENT OF TRUSTEES' RESPONSIBILITIES The trustees are required under the constitution of the charity to prepare financial statements for each financia1 year which give a true and fair view of the state of affairs of the charity and of its results for that period. In preparing those financial statements the trustees are required to: a) select suitable accounting policies and apply them consistently; b) make judgements and estimates that are reasonable and prudent; c) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in business The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. 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. ## APPROVAL This report was approved by the Trustees on 18 July 2023 and signed on their behalf. ## __________________ Trustee: D. FRAND Treasurer - 4 - ## NOTZAR CHESED CHARITABLE TRUST ## AUDITORS' REPORT TO THE TRUSTEES We have audited the financial statements on pages 6 to 10 which have been prepared under the historical cost convention and the Accounting Policies set out on page 8. ## RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS As described on page 4, the charity's trustees are responsible for the preparation of the financial statements. It is our responsibility to form an independent opinion, based on our audit, on those statements and to report our opinion to you. ## BASIS OF OPINION We conducted our audit in accordance with Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. it also includes an assessment of significant estimates and judgements made by the trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the charity's circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. ## OPINION In our opinion the financial statements give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of its financial activities for the year then ended. A.S.KELSER & Co Financial Services Riverside House , Leaside Road, London -5- ## NOTZAR CHESED ## CHARITABLE TRUST |NOTZAR CHESED
CHARITABLE TRUST||| |---|---|---| |Statement of Financial Activities
For the year ended 31 December 2022
Notes
Unrestricted
Funds
2022
INCOMING
RESOURCES
Bank Interest
468
Donations and Gifts
(2)
1,116,080
Fundraising Ventures
(3)
___
Total Incoming
Resources
____
1,116,548
Donations made
(6)
1,098,209
Fundraising costs
(4)
___
Management and
Administration
of the charity
(5)
16,426
Total Expenditure
1,114.635
NET MOVEMENT IN
FUNDS
FOR THE YEAR
(7)
1,445
Total Funds Brought
Forward
55,312
Total Funds Carried
Forward
56,757|2021
234
1,000,105
___
____
1,000,339
982,094
___
16,457
998,551
1,554
53,758
55,312|| |||| |||| There were no recognised gains or losses for 2021 or 2020 other than those included in the Statement of Financial Activities.The notes on pages 8 to 10 form part of these accounts. - 6 - ## NOTZAR CHESED CHARITABLE TRUST ## BALANCE SHEET AS AT 31 December 2022 |Notes
£
CURRENT ASSETS
Cash at Bank and in Hand
57,086
CURRENT LIABILITIES
(329)
NET CURRENT ASSETS
TOTAL ASSETS Less
CURRENT
LIABILITIES
CAPITAL
Unrestricted Funds|2022
£
£
55,606
(294)
56,757
56,757
56,757|2021
£
55,312
55,312
55,312| |---|---|---| |||| Approved by the trustees on 18 July 2023 and signed on their behalf. ______________________ ## Trustee: D. FRAND ## Treasurer The notes on pages 8 to 10 form part of these accounts. -7- ## NOTZAR CHESED CHARITABLE TRUST NOTES TO THE ACCOUNTS for the year ended 31 December 2022 ## 1. ACCOUNTING POLICIES ## 1.1 Basis of preparation of accounts The accounts are prepared under the historical cost convention and include the results of the charity's operations which are described in the Trustees' Report and all of which are continuing. The accounts have been prepared in accordance with the Statement of Recommended Practice for charity accounts. - 1.2 Tangible fixed assets for use by the charity and depreciation Tangible fixed assets for use by the charity will be stated at cost less depreciation. Depreciation will be provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives. - 1.3 Income Voluntary income and donations are accounted for as received by the charity. The income from fundraising ventures will be shown gross, with the associated costs included in fundraising costs. No permanent endowments have been received in the period. - 1.4 Value Added Tax Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities. - 1.5 Fundraising costs Fundraising expenditure comprises of costs incurred in inducing people and organisations to contribute financially to the charity's work. This includes the cost of advertising for donations and the staging of special fundraising events. 1.6 Management and administration expenditure Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity or fundraising ventures. This includes in the main costs of audit fees. 2. VOLUNTARY INCOME 2022 2021 Donations from individuals and from corporate sponsors 1,116,080 1,000,105 -- 8 – ## NOTZAR CHESED ## CHARITABLE TRUST ## NOTES TO THE ACCOUNTS ## for the year ended ## 31 December 2022 |3.
FUNDRAISING INCOME
4.
FUNDRAISING COSTS
5.
ADMINISTRATION EXPENDITURE
Office Rent and Services
Bank Charges
Audit and Accountancy Fees
Other Administrative Costs
6.
DIRECT CHARITABLE EXPENDITURE
Donation made and Remittances
(Sent to Head Office – Israel and others)
7.
NET MOVEMENT IN FUNDS FOR THE
YEAR
The net movement in funds for the year is
after charging:
Audit and Accountancy Fees|2022
£
NIL
NIL
___
878
13,016
2,532
16,426
1,098,209
1,445
stated
13,016|2021
£
NIL
NIL
___
765
13,016
2,676
16,457
982,094
1,554
13,016| |---|---|---| -9- ## NOTZAR CHESED ## CHARITABLE TRUST NOTES TO THE ACCOUNTS for the year ended 31 December 2022 8. STAFF COSTS |||2022|2021| |---|---|---|---| |8.|STAFF COSTS||| ||No remuneration was paid to trustees in the year, nor were||| ||any trustees’ expenses reimbursed. There were no||staff| ||costs during the year.||| ||Wages and salaries|NIL|NIL| |9.|CURRENT LIABILITIES||| ||Sundry Creditors|278|260| ||Accrual|51|34| |||329|294| - 10 -