CHARITY REGISTRATION NUMBER.. 296981 CHESED CHARITY TRUST Unaudited Financial Statements 29 February 2024 G A HARRIS & CO LIMITED Chartered accountants Brulimar House Jubilee Road, Middleton, Manchester England M24 2LX CHESED CHARITY TRUST Financial Statements Year ended 29 February 2024 Page Trustees, annual report Independent examiner's report to the trustees statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements CHESED CHARITY TRUST Trustees, Annual Report Year ended 29 February 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 29 February 2024. Reference and administrative details Registered charity name CHESED CHARITY TRUST Charity registration number 296981 Principal office 71 Bridge Lane London NW110EE The trustees P Toba H Wosner L M Halpern Independent examiner Gary Harris Brulimar House Jubilee Road, Middleton, Manchester England M24 2LX Structure, governance and management The charity is controlled by ils governing document, a deed of trust, and constitutes an unincorporated charity. New Iruslees are inducted into the workings of the charity by the existing Iruslees. The trustees administer the day-lo-day affairs of the charity. All trustees give their lime voluntarily and receive no benefits from the charity. None of the Iruslees have any beneficial interest in the charity. Objectivos and activities The objects of the charity are to further those purpose recognized as charitable by English law. the charity recieves Income mainly from charitable donations which it ulilises in the provision of grants and donations to the poor and needy. The charity also makes distribution of food to the poor and needy through ils Pesach project. Aehievements and performance Income from donations aggregated £920,48512023". £954,889ltotsl grants given aggregated £331,743 12023. £251,160) CHESED CHARITY TRUST Trustees, Annual Report (contlnuedj Year ended 29 February 2024 Financial review During the year the charities incoming resources exceeded the outgoing resources. The trustees are satisfied with the results for the year. As al 28th February 2024 the charity had unrestricted funds of £294,45712023.' £271,488) The trustees, annual report was approved on 27 December 2024 and signed on behalf of the board of trustees by.. L M Halpern Trustee CHESED CHARITY TRUST Independent Examiner's Report to the Trustees of CHESED CHARITY TRUST Year ended 29 February 2024 I report lo the trustees on my examination of the financial statements of CHESED CHARITY TRUST I'the charily'l for the year ended 29 February 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordan￿ with the requirements of the Charities Act 20111'the Act'i. I report in respect of my examination of the charity's financial slalements 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 14515llbl of the Act. Independent examiner's statement Since the charity's gross Income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales IICAEWI, which is one of the listed bodies. I have completed my examination. l 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". accounting records were not kept in respect of the charity as required by section 130 of the Act", or the financial ststemenls do not accord with those records", or the financial statements do not comply with the applicable requirements concerning the fom and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue 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 allenlion should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Gary Harris Independent Examiner Brulimar House Jubilee Road, Middleton, Manchester England M24 2LX 27 December 2024 CHESED CHARITY TRUST Statement of Financial Activities Year ended 29 February 2024 Period from 6Apr22to 28 Feb 23 Year to 29 Feb 24 Unrestricted funds Total funds Total funds Note Income and endowments Donations and legacies Charitable activities 920,485 44,162 920,485 44,162 954,889 35,925 Total income 964,647 964,647 990,814 Expenditure Expenditure on charitable activities Total expgnditurg 941,678 941,678 957, 167 941,678 941,678 957, 167 Net {expenditurellincome and net movement in funds 22.969 22,969 33,647 Reconciliation of funds Total funds brought forward Total funds Carrled for4vard 271,488 271,488 294,457 237,841 294,457 271,488 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 12 form part of these financlal statements. CHESED CHARITY TRUST Statement of Financial Position 29 February 2024 2024 2023 Notè Current assets Stocks Debtors Cash at bank and in hand 10 11 2,100 100,621 268,896 1,150 229,441 236,617 371,617 467,208 Creditors: amounts falling due within one year Net current assets 12 77,160 195,720 294,457 271,488 Total assets less current liabilities 294,457 271,488 Funds ofthe charity Unreslricled funds 294,457 271,488 Total Charity funds 13 294,457 271.488 These financial statements were approved by the board of trustees and authorised for issue on 27 December 2024, and are signed on behalf of the board by.. L M Halpern Trustee The notes on pages 7 to 12 form part of these financlal statements. CHESED CHARITY TRUST Statement of Cash Flows Year ended 29 February 2024 2024 2023 Cash flows from operating activities Net lexpendilurellincome 22,969 33,647 Adjustments for.. Changes in.. Stocks Trade and other debtors Trade and other creditors 19501 43,850 128,820 1119,0001 1118,5601 1205.8731 32,279 1247,3761 1247,3761 Cash generated from operations Net cash fromllused in) operating activities 32,279 Net increaselldecreasel in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 32,279 238,617 268,896 1247.3761 483,993 236,617 The notes on pages 7 to 12 form part of these financlal statements. CHESED CHARITY TRUST Notes to the Financial Statements Year ended 29 February 2024 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 71 Bridge Lane, London, NW11 OEE. 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 Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, a5 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 abilty lo continue. Fund accountlng Unreslricled funds are available for use at the discretion of the trustees lo 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 surtlasses.. restricted income funds or endowment funds. CHESED CHARITY TRUST Notes to the Financial Statements (conllnue Year ended 29 February 2024 Accounting policies {conllnu8d) Incoming resources All incoming reSoUr￿S are included in the statement of financial activities when entillemenl has passed to the charity., il 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.. income from donations or grants is rec￿nISed when there is evidence of entitlement lo the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and enlillement is estsblished. income from donated good5 Is measured at the fair value of the goods unless this is Impractical lo 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. income from ¢onlra¢ls for the supply of services is recognised with the delivery of the conlra¢led service. This is classified as unrestricted funds unless there is a ¢onlra¢lual requirement for il lo be spent on a particular purpose and returned If unspent, in which case il may be regarded as reslricled. 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 lo which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitsble trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned lo charitable activities. other expenditure includes all expenditure that is neither related lo raising fvnds for the charity nor part of ils expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs atlribulable lo a single activity are allocated directly lo that activity. Shared costs are apportioned be￿een the activities they contribute lo on a reasonable, justifiable and consislenl basis. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock lo ils present location and condition. CHESED CHARITY TRUST Notes to the Financial Statements (conllnue Year ended 29 February 2024 Accounting policies {conllnu8d) 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 al the amount re￿1vable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected lo be paid or re￿iVed and not discounted. Debt instruments are subsequently measured at amortised cosL 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 subsequenuy 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 al a rate of interest that is not a market rate, in which case the asset is measured al the present value of the future payments discounted al a market ote 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 relab'onship. Financial assets that are measured al cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting dale. 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 characlerislics. Any reversals of impairment are recognised immediate￿, lo the extent that the reversal does not result in a carrying amount of the financial asset that exTreds what the carrying amount would have been had the impairment not previously been recognised. Donations andlggacies Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 920,485 920,485 954,889 954,889 CHESED CHARITY TRUST Notes to the Financial Statements (conllnue Year ended 29 February 2024 Charitable activities Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Pesach project 44,162 44,162 35,925 35,925 Expenditure on charitable activities by activity type Activities undertaken directly Support Totsl funds costs 2024 Total fund 2023 Charitable activities Governance costs 940,958 940,958 720 956,447 720 720 940,958 720 941,678 957, 167 Independent examination fees Period from 6Apr22to 28 Feb 23 Yearto 29 Feb 24 Fees payable to the independent examiner for.. Independent examination of the financial statements 720 720 Staff costs The average head count of employees during the year was Nil12023.' Nill. No employee received employee benefits of more than £60,000 during the year12023'. Nill. Trustee remuneration and expenses There was no Iruslees, remuneration or other benefit for the year ended 28th February 2023 nor for the year ended 5th April 2022. There were no trustees, expenses paid for the year ended 28th February 2023 nor for the year ended 5th April 2022. 10. Stocks 2024 2023 Raw materials and consumables 2,100 1,150 10 CHESED CHARITY TRUST Notes to the Financial Statements (conllnue Year ended 29 February 2024 11. Debtors 2024 2023 Trade debtors other debtors 48,180 52,441 180,000 49,441 100,621 229,441 12. Creditors.. amounts falling due within one year 2024 2023 Trade creditors Other creditors 17,160 60,000 195,720 77,160 195,720 13. Analysis of eharitable funds Unrestricted funds Al 1 March 202 At 29 February 2024 Income Expenditure General funds 271,488 964,647 1941,6781 294,457 At 28 February 2023 Al 6 April 2022 Income Expenditure General funds 237,841 990,814 1957,1671 271,488 14. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Not assots 371,617 177, 1601 294,457 371,617 177, 1601 294,457 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 467,208 467,208 1195,7201 1195,7201 271,488 271,488 11 CHESED CHARITY TRUST Notes to the Financial Statements (conllnue Year ended 29 February 2024 15. Analysis of changes in net debt At At 1 Mar 2023 Cash flows 29 Feb 2024 Cash al bank and in hand 236,617 32,279 268,896 12