Friends of Wiznitz Limited - Charities report - 18.1
Friends of Wiznitz Limited - Charities report - 18.1
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
FRIENDS OF WIZNITZ LIMITED |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED |
31 MARCH 2018 |
FRIENDS OF WIZNITZ LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 to 3 |
Report of the Independent Auditors | 4 to 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 |
Cash Flow Statement | 8 |
Notes to the Cash Flow Statement | 9 |
Notes to the Financial Statements | 10 to 16 |
FRIENDS OF WIZNITZ LIMITED |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31 MARCH 2018 |
TRUSTEES | S Feldman |
J Feldman ((died 15 April 2017)) |
H Feldman |
E Gottesfeld |
REGISTERED OFFICE | First Floor |
94 Stamford Hill |
London |
N16 6XS |
PRINCIPAL ADDRESS | 8 Jessam Avenue |
London |
E5 9DU |
REGISTERED COMPANY NUMBER | 00929964 (England and Wales) |
REGISTERED CHARITY NUMBER | 255685 |
INDEPENDENT AUDITORS | Sugarwhite Meyer Accountants Ltd |
Chartered Accountants & Statutory Auditor |
First Floor |
94 Stamford Hill |
London |
N16 6XS |
BANKERS | Barclays Bank plc |
240 Whitechapel Road |
London |
E1 1BJ |
FRIENDS OF WIZNITZ LIMITED |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2018 |
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 31 March 2018. 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 2015). |
Reference and administrative information |
Reference and administrative information is shown on page 1 of the financial statements and forms part of |
this report. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objects of the charity are the furtherance of purposes recognised as charitable by English Law with |
special regard to the Wiznitz Institutions. |
The trustees carry out these objects by making grants to charities working in the field of the advancement of |
religion, religious education and relief of poverty and granting free use of buildings, for educational purposes, |
to other Wiznitz charities. |
The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when |
reviewing the charity's aims and objectives and in planning future activities, and setting the grant making |
policy for the year. |
Grantmaking |
In general the trustees select the institutions to be supported according to their personal knowledge of work of |
the institution. Whilst not actively inviting applications, they are always prepared to accept any application |
which will be carefully considered and help given according to circumstances and funds then |
available. |
Applications by individuals must be accompanied by a letter of recommendation by the applicant's minister or |
other known religious leader. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The charity is reliant on donations and investment income. Donations increased almost 55% on the previous |
year and the trustees increased grantmaking to institutions by similar amount. During the year the charity |
continued its philanthropic activities in support of organisations engaging in education, advancement of |
religion, and the relief of poverty. |
Fundraising activities |
The charity held a major fund raising event in Llandudno with others in London and a boat party on the River |
Thames. As can be seen fron the financial statements the outcome has proved to be of great benefit to both |
the charity and the recipients of grants. |
FINANCIAL REVIEW |
Investment policy and performance |
Under the memorandum and articles of association the charity has the power to make any investment which |
the trustees see fit. The trustees consider that investment in property meets their criteria for income and |
capital growth. The return is considered satisfactory |
Reserves policy |
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the |
charity. Unrestricted funds at the year end were £5,378,881 of which unrealised amounts were £3,254,683. |
Free reserves were £145,305. |
FUTURE PLANS |
Subject to satisfactory income the trustees anticipate that the charity will continue on a similar basis in the |
foreseeable future and there are no plans for any major changes. |
FRIENDS OF WIZNITZ LIMITED |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2018 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and |
Articles of Association dated 2 April 1968. |
Recruitment and appointment of new trustees |
The power to appoint new trustees is vested in the continuing board. It is not the intention of the trustees to |
appoint any new trustees. Should the situation change in the future, the trustees will apply suitable |
recruitment induction and training procedures. |
Risk management |
The trustees have reviewed the major risks that the charity faces and confirm that they have established |
systems to mitigate them. |
STATEMENT OF TRUSTEES RESPONSIBILITIES |
The trustees (who are also the directors of Friends of Wiznitz Limited for the purposes of company law) are |
responsible for preparing the Report of the Trustees and the financial statements in accordance with |
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting |
Practice). |
Company law requires the trustees to prepare financial statements for each financial year which give a true |
and fair view of the state of affairs of the charitable company and of the incoming resources and application of |
resources, including the income and expenditure, of the charitable company for that period. In preparing |
those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company 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 charitable company and to enable them to ensure that the financial |
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of |
the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and |
other irregularities. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming |
Annual General Meeting. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act |
2006 relating to small companies. |
Approved by order of the board of trustees on |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
FRIENDS OF WIZNITZ LIMITED |
Opinion |
We have audited the financial statements of Friends of Wiznitz Limited (the 'charitable company') for the year ended 31 March 2018 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 31 March 2018 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and |
applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities |
for the audit of the financial statements section of our report. We are independent of the charitable company |
in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, |
including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance |
with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to |
provide a basis for our opinion. |
Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to |
report to you where: |
- | the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
- | the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information |
The trustees are responsible for the other information. The other information comprises the information |
included in the annual report, other than the financial statements and our Report of the Independent Auditors |
thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent |
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, |
in doing so, consider whether the other information is materially inconsistent with the financial statements or |
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such |
material inconsistencies or apparent material misstatements, we are required to determine whether there is a |
material misstatement in the financial statements or a material misstatement of the other information. If, |
based on the work we have performed, we conclude that there is a material misstatement of this other |
information, we are required to report that fact. We have nothing to report in this regard. |
Opinion on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the |
course of the audit, we have not identified material misstatements in the Report of the Trustees. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
FRIENDS OF WIZNITZ LIMITED |
Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to |
report to you if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors |
of the charitable company for the purposes of company law) are responsible for the preparation of the |
financial statements and for being satisfied that they give a true and fair view, and for such internal control as |
the trustees determine is necessary to enable the preparation of financial statements that are free from |
material misstatement, whether due to fraud or error. |
In preparing the financial statements, the trustees are responsible for assessing the charitable company's |
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using |
the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or |
to cease operations, or have no realistic alternative but to do so. |
Our responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free |
from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors |
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an |
audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. |
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, |
they could reasonably be expected to influence the economic decisions of users taken on the basis of these |
financial statements. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial |
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our |
Report of the Independent Auditors. |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of |
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the |
charitable company's members those matters we are required to state to them in an auditors' report and for |
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone |
other than the charitable company and the charitable company's members as a body, for our audit work, for |
this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants & Statutory Auditor |
94 Stamford Hill |
London |
N16 6XS |
FRIENDS OF WIZNITZ LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 MARCH 2018 |
2018 | 2017 |
Unrestricted fund |
Restricted fund |
Total funds |
Total funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities | 6 |
Total |
Net gains/(losses) on investments |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,861,937 |
FRIENDS OF WIZNITZ LIMITED (REGISTERED NUMBER: 00929964) |
BALANCE SHEET |
AT 31 MARCH 2018 |
2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
Investment property | 12 | 1,850,000 |
CURRENT ASSETS |
Debtors | 13 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 14 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds | 5,378,881 | 2,861,937 |
TOTAL FUNDS | 2,861,937 |
These financial statements have been prepared in accordance with the special provisions of Part 15 of the |
Companies Act 2006 relating to charitable small companies. |
The financial statements were approved by the Board of Trustees on |
FRIENDS OF WIZNITZ LIMITED |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2018 |
2018 | 2017 |
Notes | £ | £ |
Cash flows from operating activities: |
Cash generated from operations | 1 | 332,644 | 54,540 |
Net cash provided by (used in) operating activities |
332,644 |
54,540 |
Cash flows from investing activities: |
Purchase of investment property | (319,684 | ) | - |
Net cash provided by (used in) investing activities |
(319,684 |
) |
- |
Change in cash and cash equivalents in the reporting period |
12,960 |
54,540 |
Cash and cash equivalents at the beginning of the reporting period |
142,125 |
87,585 |
Cash and cash equivalents at the end of the reporting period |
155,085 |
142,125 |
FRIENDS OF WIZNITZ LIMITED |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2018 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2018 | 2017 |
£ | £ |
Net income for the reporting period (as per the statement of financial activities) |
2,516,944 |
658,803 |
Adjustments for: |
(Gains)/Losses on investments | (2,200,000 | ) | (420,000 | ) |
Decrease in debtors | 10,000 | 35,000 |
Increase/(decrease) in creditors | 5,700 | (219,263 | ) |
Net cash provided by (used in) operating activities | 332,644 | 54,540 |
FRIENDS OF WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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 2015)', 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, as modified by the revaluation of certain |
assets. |
Judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, the directors are required to make judgements, |
estimates and assumptions about the carrying amounts 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. The estimates and underlying |
assumptions are reviewed on an ongoing basis. |
The valuation of investment properties is inherently subjective, depending on many factors, including |
the individual nature of each property, its location and expected future net rental values, market yields |
and comparable market transactions. Therefore, the valuations are subject to a degree of uncertainty |
and are made on the basis of assumptions which may not prove to be accurate, particularly in periods |
of difficult market or economic conditions. |
Income |
Donations are recognised in the Statement of Financial Activities of the charity when received. All other |
income is recognised in the year in which it is receivable. |
Expenditure |
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is |
reported as part of the expenditure to which it relates. |
Grants are only recognised in the accounts when paid. |
Support costs are those incurred to assist the work of the charity but are not direct charitable activities |
Governance costs are those incurred in connection with administration of the charity and compliance |
with constitutional and statutory requirements |
Tangible fixed assets |
All fixed assets are initially recorded at cost |
Investment property |
Investment property is initially recorded at cost, which includes purchase price and any directly |
attributable expenditure. It is revalued to its fair value at each reporting date any changes are |
transferred to the Statement of Financial Activities. No depreciation is provided in respect of |
investment properties applying the fair value. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Going concern |
There are no material uncertainties about the charity's ability to continue. |
FRIENDS OF WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE YEAR ENDED 31 MARCH 2018 |
2. | DONATIONS AND LEGACIES |
2018 | 2017 |
£ | £ |
Donations |
3. | OTHER TRADING ACTIVITIES |
2018 | 2017 |
£ | £ |
Rents | 20,000 | 20,000 |
4. | INVESTMENT INCOME |
2018 | 2017 |
£ | £ |
Rents received |
5. | RAISING FUNDS |
Raising donations and legacies |
2018 | 2017 |
£ | £ |
Function | 38,497 | 5,700 |
Advertising | 3,504 | - |
42,001 | 5,700 |
Investment management costs |
2018 | 2017 |
£ | £ |
Insurance | 775 | 729 |
Maintenance charges |
9,345 | 729 |
Aggregate amounts | 51,346 | 6,429 |
FRIENDS OF WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE YEAR ENDED 31 MARCH 2018 |
6. | CHARITABLE ACTIVITIES COSTS |
Direct costs |
Grant funding of activities |
Support costs |
Totals |
(See note 7) | (See note 8) |
£ | £ | £ | £ |
School expenditure | 35,717 | - | - | 35,717 |
Charitable activities | - | 3,042,608 | 11,754 | 3,054,362 |
35,717 | 3,042,608 | 11,754 | 3,090,079 |
7. | GRANTS PAYABLE |
2018 | 2017 |
£ | £ |
3,042,608 | 1,942,673 |
The total grants paid to institutions during the year was as follows: |
2018 | 2017 |
£ | £ |
Religious education | 1,679,473 | 834,250 |
Relief of poverty | 730,850 | 610,400 |
Advancement of religion | 538,085 | 405,293 |
Social welfare | - | 20,000 |
Medical | 52,200 | - |
Igud Mosdot Wiznitz | 1,342,570 |
Lehachzikom Velehachyosom | 557,500 |
Khal Tzemach Tzadik | 200,000 |
Bnos Viznitz | 100,000 |
Kehal Chasidei Wiznitz | 88,188 |
Mosdos Imrei Chaim | 67,500 |
Tomchei Yotzei Anglia | 60,000 |
Rise and Shine | 50,000 |
Bnos Viznitz UK | 47,700 |
Keren LeHazonas Yeladim | 45,000 |
Chaim Vechesed | 45,000 |
Others under £40,000 | 397,150 |
3,000,608 |
The total grants paid to individuals during the year was as follows: |
2018 | 2017 |
£ | £ |
Relief of poverty | 42,000 | 72,730 |
FRIENDS OF WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE YEAR ENDED 31 MARCH 2018 |
8. | SUPPORT COSTS |
Finance |
Governance costs |
Totals |
£ | £ | £ |
1,495 | 10,259 | 11,754 |
Support costs, included in the above, are as follows: |
Finance |
2018 | 2017 |
Charitable activities |
Total activities |
£ | £ |
Bank charges | 1,495 | 930 |
Governance costs |
2018 | 2017 |
Charitable activities |
Total activities |
£ | £ |
Auditors' remuneration | 3,600 | 1,800 |
Auditors' remuneration for non audit work | 6,180 | 2,280 |
General expenses | 479 | 453 |
10,259 | 4,533 |
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2018 | 2017 |
£ | £ |
Auditors' remuneration | 3,600 | 1,800 |
Auditors' remuneration for non audit work | 6,180 | 2,280 |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2018 nor for the |
year ended 31 March 2017. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2018 nor for the year ended |
31 March 2017. |
FRIENDS OF WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE YEAR ENDED 31 MARCH 2018 |
11. | TANGIBLE FIXED ASSETS |
Freehold property |
£ |
COST OR VALUATION |
At 1 April 2017 |
Revaluations |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
12. | INVESTMENT PROPERTY |
£ |
MARKET VALUE |
At 1 April 2017 |
Additions |
Revaluation | 200,000 |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
The fair value of the investment properties has been arrived at on the basis of a valuation carried out |
by the trustees who are considered to have the experience and expertise required to undertake such |
an exercise. The valuation was made on an open market value basis by reference to market evidence |
of transaction prices for similar properties in the same or similar locations. |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors | 10,000 | 20,000 |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Accruals and deferred income |
FRIENDS OF WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE YEAR ENDED 31 MARCH 2018 |
15. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2018 | 2017 |
Unrestricted fund |
Restricted fund |
Total funds |
Total funds |
£ | £ | £ | £ |
Fixed assets | 2,853,892 | - | 2,853,892 | 853,892 |
Investments |
Current assets | 165,085 | - |
Current liabilities | ( |
) | ( |
) | ( |
) |
5,378,881 | - | 5,378,881 | 2,861,937 |
16. | MOVEMENT IN FUNDS |
At 1.4.17 |
Net movement in funds |
At 31.3.18 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,861,937 | 2,516,944 | 5,378,881 |
TOTAL FUNDS | 2,516,944 | 5,378,881 |
Net movement in funds, included in the above are as follows: |
Incoming resources |
Resources expended |
Gains and losses |
Movement in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 3,458,369 | (3,141,425 | ) | 2,200,000 | 2,516,944 |
TOTAL FUNDS | ( |
) | 2,516,944 |
Comparatives for movement in funds |
At 1.4.16 |
Net movement in funds |
At 31.3.17 |
£ | £ | £ |
Unrestricted Funds |
General fund | 2,203,134 | 658,803 | 2,861,937 |
TOTAL FUNDS | 2,203,134 | 658,803 | 2,861,937 |
FRIENDS OF WIZNITZ LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
FOR THE YEAR ENDED 31 MARCH 2018 |
16. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming resources |
Resources expended |
Gains and losses |
Movement in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 2,225,150 | (1,986,347 | ) | 420,000 | 658,803 |
TOTAL FUNDS | 2,225,150 | (1,986,347 | ) | 420,000 | 658,803 |
17. | RELATED PARTY DISCLOSURES |
Donations totalling £460,000 were received without conditions from a charity connected with two of the |
trustees. |