REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 |
FOR |
ZICHRON REFOEL |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 |
FOR |
ZICHRON REFOEL |
ZICHRON REFOEL |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
ZICHRON REFOEL (REGISTERED NUMBER: 06611534) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30TH JUNE 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's objects are " the advancement of the orthodox Jewish Religion, the advancement of orthodox jewish education, the relief of poverty and sickness amongst persons of the jewish faith". |
Activities and Public Benefit Compliance |
The Trustees are pleased with the level of donations achieved during the year, which has allowed the Charity to make a significant contribution to local needy jewish causes in the furtherance of its objects. |
The Trustees are mindful of the Public Benefit requirement and believe that it has been fulfilled due to individual donations and grants being awarded to a wide ranging number of individuals and charities |
representing a cross section of persons of the jewish faith. |
The trustees have ensured that where grants have been awarded to charities that they are of Registered Charity status or the equivalent in their Country of operation and that they are compliant with all filing requirements. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The Directors are hoping for more donations to be made to the organisation in the coming year to meet the charities aims and objectives. |
FINANCIAL REVIEW |
Principal funding sources |
The Charity continues to be dependant on voluntary donations . |
Reserves policy |
The Statement of Financial Activities showed a deficit for the year of £2,641 (2023 : Surplus of £3,236) and total funds of £8,203 (2023 : £10,844). Cash reserves at the end of the year were £10,143 ( 2023 £11,382). |
The Trustees consider that the present level of reserves and funding is adequate to support the continuation of the operation of the Charity. |
FUTURE PLANS |
The need for our services is increasing and we plan to continue doing what we can to assist. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company , limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
All Directors of the company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named above served throughout the year, unless otherwise indicated. The Board has the power to appoint additional trustees as it considers fit to do so. |
Organisational structure |
The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. All Directors of the company are also trustees of the charity and there are no other Trustees. All of the Trustees named on page one served throughout the period. |
ZICHRON REFOEL (REGISTERED NUMBER: 06611534) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30TH JUNE 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Related parties |
Details concerning Related Parties are disclosed in Note 10 to the Financial Statements. |
Risk management |
The charity trustees have considered the major risks to which the charity is exposed. Major risks are risks that will affect the charity's operational performance and aims and objectives. The charity review these risks on an ongoing basis and satisfy themselves that adequate systems and procedures are in place to manage the risks identified. The trustees believe that the present level of funding is adequate to support the continuation of the charity's objects. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Howard L. Morris |
H. Morris & Co |
56 Parkside Drive |
Edgware |
Middlesex |
HA8 8JX |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
ZICHRON REFOEL |
Independent examiner's report to the trustees of Zichron Refoel ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th June 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Howard L. Morris |
H. Morris & Co |
56 Parkside Drive |
Edgware |
Middlesex |
HA8 8JX |
Date: | March 2025 |
ZICHRON REFOEL |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 30TH JUNE 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
EXPENDITURE ON |
Charitable activities | 3 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 10,844 |
ZICHRON REFOEL (REGISTERED NUMBER: 06611534) |
BALANCE SHEET |
30TH JUNE 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 10,844 |
TOTAL FUNDS | 10,844 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
ZICHRON REFOEL (REGISTERED NUMBER: 06611534) |
BALANCE SHEET - continued |
30TH JUNE 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
ZICHRON REFOEL |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
ZICHRON REFOEL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
3. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities | Support |
Direct | (see note | costs (see |
Costs | 4) | note 5) | Totals |
£ | £ | £ | £ |
Administrative expenses | 228 | 47,562 | 240 | 48,030 |
4. | GRANTS PAYABLE |
2024 | 2023 |
£ | £ |
Grants to charitable institutions | - | 44,261 |
Administrative expenses | 47,562 | - |
47,562 | 44,261 |
A list of Grants made during the year can be obtained by writing to the trustees, Zichron Refoel, 923 Finchley Road, London NW11 7PE by registered post. |
5. | SUPPORT COSTS |
Governance |
costs |
£ |
Administrative expenses | 240 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30th June 2024 nor for the year ended 30th June 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30th June 2024 nor for the year ended 30th June 2023. |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
ZICHRON REFOEL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 10,844 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Gift Aid Reclaimable |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors | ( |
) |
Other creditors |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.23 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 10,844 | (2,641 | ) | 8,203 |
TOTAL FUNDS | (2,641 | ) | 8,203 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 45,389 | (48,030 | ) | (2,641 | ) |
TOTAL FUNDS | ( |
) | (2,641 | ) |
ZICHRON REFOEL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
10. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 7,608 | 3,236 | 10,844 |
TOTAL FUNDS | 7,608 | 3,236 | 10,844 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 47,935 | (44,699 | ) | 3,236 |
TOTAL FUNDS | 47,935 | (44,699 | ) | 3,236 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 7,608 | 595 | 8,203 |
TOTAL FUNDS | 7,608 | 595 | 8,203 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 93,324 | (92,729 | ) | 595 |
TOTAL FUNDS | 93,324 | (92,729 | ) | 595 |
ZICHRON REFOEL |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
11. | RELATED PARTY DISCLOSURES |
Included in Grants to Charitable Institutions are grants totalling £8,000 (2023 £7,000) paid to Chasdei Dovid, a charity with Trustees in common with Zichron Refoel. |