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2021-03-31-accounts

DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

Charity Registration No: 1023816

FINANCIAL STATEMENTS

for the year ended 31 MARCH 2021

DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
1 Legal and Administrative Information
2 - 3 Trustee's Report
4 Independent Examiners’ Report
5 Income and Expenditure Account
6 Balance Sheet
7 - 10 Notes to the Financial Statements

DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

TRUSTEE

Rabbi Y E Schwartzman

OFFICE

49 Russell Gardens London NW11 9NJ

INDEPENDENT EXAMINER

J A Englard FCA

BANKERS

Barclays Bank Plc

CHARITY NUMBER

1023816

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2021

The Trustee has pleasure in presenting the Annual Report together with the Financial Statements for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEE AND ADVISERS

Legal and Administrative Information of the Charity is shown on Page 1 of the Financial Statements and forms part of this report.

ORGANISATION STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity is governed by a Trust Deed.

The Trustee administers the day-to-day affairs of the Charity. The Trustee does not have any beneficial interest in the Charity.

Where there is a requirement for new Trustees, these would be identified and appointed by the remaining Trustee. The Trustee would be responsible for the induction of any new Trustee, which involves awareness of a Trustee’s responsibilities, the governing document, administrative procedures, the history and philosophical approach of the Charity. A new Trustee would receive copies of the previous year’s annual report and accounts with detailed explanation thereof.

RISK FACTORS

The Trustee has assessed the major risks to which the Charity is exposed particularly those relating to operations and finances. He is satisfied that the systems are in place to mitigate its exposure to those risks.

OBJECTIVES, AND ACTIVITIES OF THE CHARITY

The Charity is established to raise funds for Yeshiva Beth Medrash Gevoha of America, a Talmudical College (Yeshiva) in Jerusalem, Israel.

The Trustee confirms his compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity’s aims and objectives and in planning future activities.

ACHIEVEMENT AND PERFORMANCE OF THE CHARITY

The Charity received donations totalling £55,913 during the year and made grants to Beth Medrash Gevoha in Israel aggregating £77,300.

FINANCIAL REVIEW

The financial results of the Charity’s activities for the year to 31 March 2021 are fully reflected in the attached Financial Statements together with the Notes thereon.

RESERVES POLICY

Funds are remitted to Beth Medrash Gevoha in Israel on a regular basis and no specific fund is maintained.

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2021

TRUSTEE

The Trustee who served during the year was Rabbi Y E Schwartzman

TRUSTEE'S RESPONSIBILITIES

The Charity's Trustee is responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to Charities in England and Wales requires the Trustee to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these Financial Statements, the Trustee is required to:

The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The Trustee is 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.

Signed on behalf of the Trustees

……………………… cr8E5061A1CEB9451... Y € Sduwarteynan. Rabbi Y E Schwartzman – Trustee

Date: 19/1/2022

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BRITISH FRIENDS OF BETH MEDRASH GEVOHA

YEAR ENDED 31 MARCH 2021

I report to the trustees on my examination of the financial statements of British Friends of Beth Medrash Gevoha ('the charity') for the year ended 31 March 2021.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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 145(5)(b) of the Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

London: Date: 19/1/2022

J A Englard FCA 9312555602EA490...

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME & EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
Unrestricted Funds Unrestricted Funds
Notes £ £ £ £
INCOME AND ENDOWMENTS
Donations and Legacies 2 55,913 85,980
__ _
Total Income 55,913 85,980
EXPENDITURE
Expenditure on Charitable Activities 3 77,400 67,104
_ _
Total Expenditure (77,400) (67,104)
_ _
NET (DEFICIT)/ INCOME AND
NET MOVEMENT IN FUNDS (21,487) 18,876
Reconciliation of funds
Total Funds Brought Forward 28,027 9,151
_ _
TOTAL FUNDS CARRIED FORWARD £6,540
_		 £28,027
_

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 10 form part of these Financial Statements.

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

STATEMENT OF FINANCIAL POSITION

31 MARCH 2021

Notes 2021 2020
£ £
CURRENT ASSETS
Cash at Bank 6,540 28,027
__ __
NET ASSETS £6,540 £28,027
__ __
FUNDS OF THE CHARITY
Unrestricted Funds 6 6,540 28,027
_ _
TOTAL CHARITY FUNDS £6,540 £28,027
_ _

The Financial Statements were approved by the Board of Trustees and authorised for issue on ……………… and signed on its behalf by 19/1/2022

…………………………………… cr8E5061A1CEB9451..."| € Scuvartyman. RABBI Y E SCHWARTZMAN - TRUSTEE

The notes on pages 7 to 10 form part of these Financial Statements.

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1. General information

The charity is registered charity in England and Wales and is unincorporated. The address of the principal office is 49 Russell Gardens, London, NW11 9NJ.

2. 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 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The charity meets the definition of a public benefit entity under FRS 102

Judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the trustee is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The trustee does not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

Income tax

The charity is not liable to direct taxation on its income or gains, whether realised or not, as it falls within the various exemptions liable to registered charities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustee to further any of the charity's purposes.

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

3. Accounting policies ( Continued )

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Resources expended

Expenditure is charged on an accrual basis and allocated to the appropriate headings in the accounts. The majority of costs are directly attributable to specific activities. Costs incurred in respect of the charitable activities include attributable support costs where applicable.

Grants payable

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2. DONATIONS AND LEGACIES


General Donations		 2021
£55,913
_		 2020
£85,980
_

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

3. ANALYSIS OF EXPENDITURE CHARITABLE ACTIVITIES

Grant Funding Activities (Institutions)
Support and Governance Costs (Note 4)		 2021
£
77,300
100
_
£77,400
_		 2020
£
67,000
104
_
£67,104
_		 2020

All grants were paid to Beth Medrash Gevoha in Israel, a Talmudical College (Yeshiva) in Jerusalem, Israel.

4. SUPPORT AND GOVERNANCE COSTS

General Expenses
2021
£
100
_
£100
_
2020
£
104
_
£104
_

5. STAFF COSTS AND EMOLUMENTS AND PARTICULARS OF EMPLOYEES

The Trustee has not been paid any remuneration or received any other benefits from the charity. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.

No staff were employed by the charity during the reporting period.

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DocuSign Envelope ID: 752854E5-F487-4DA4-88A0-3CFF5469100E

BRITISH FRIENDS OF BETH MEDRASH GEVOHA

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

6. UNRESTRICTED FUNDS
Charitable
Funds
£
Balance at 1 April 2020 28,027
Net Outgoing Resources for the Year (21,487)
_
Balance at 31 March 2021 £6,540
_

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