**REGISTERED CHARITY NUMBER: 1054938**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 5 April 2023**
## **for**
## **Yephess Charitable Trust**
Martin+Heller 5 North End Road London NW11 7RJ
**Yephess Charitable Trust**
**Contents of the Financial Statements for the Year Ended 5 April 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
|**Detailed Statement of Financial Activities**||11||
**Yephess Charitable Trust**
**Report of the Trustees for the Year Ended 5 April 2023**
The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. 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 objective and its principal activity continue to be that of the promotion of the orthodox jewish faith and the relief of poverty.
## **Significant activities**
The charity received £58,956 (2022: £68,097) as its investment income during the year and donations of £40,000 (2022: £30,000).
## **Public benefit**
The trustees confirm their 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.
## **Grantmaking**
Grants are made to charitable institutions and organisations which accord with the objects of the Charity.
## **ACHIEVEMENT AND PERFORMANCE**
## **Internal and external factors**
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
## **FINANCIAL REVIEW**
## **Financial position**
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from the income received from the investments.
## **Reserves policy**
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
## **FUTURE PLANS**
The trustees plan to maximise the level of income received whilst continuing to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
The trustees have no beneficial interest in the company as it is a company limited by guarantee and are chosen by agreement of trustees at an annual meeting. The choice is based on applcant,s business and community knowledge.
New trustees are subject to trustee induction training which includes an understanding of the content of the governing document their legal obligations under the Charity Act, the organisational structure of charity and the recent financial performanceof the charity. Trustees are encouraged to attend appropriate external training events which enhance their knowledge and skill thereby improving the performance of teir role.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charityis exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
**Yephess Charitable Trust**
**Report of the Trustees for the Year Ended 5 April 2023**
**REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1054938
**Principal address** 44 Wargrave Avenue London N15 6UB
## **Trustees**
P Kraus Mrs E D Kraus D Kraus
**Independent Examiner** Adrian Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ P Kraus - Trustee
Page 2
**Independent Examiner's Report to the Trustees of Yephess Charitable Trust**
## **Independent examiner's report to the trustees of Yephess Charitable Trust**
I report to the charity trustees on my examination of the accounts of Yephess Charitable Trust (the Trust) for the year ended 5 April 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
Adrian Heller FCA
Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
**Yephess Charitable Trust**
## **Statement of Financial Activities for the Year Ended 5 April 2023**
|5.4.23
Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
40,000
Investment income
3
58,956
**Total**
98,956
**EXPENDITURE ON**
**Charitable activities**
Administration fees
4,720
Grants to institutions
74,757
**Total**
79,477
**NET INCOME**
19,479
**RECONCILIATION OF FUNDS**
Total funds brought forward
1,422,524
**TOTAL FUNDS CARRIED FORWARD**
1,442,003|5.4.22
Total funds
£
30,000
68,097|
|---|---|
||98,097|
||2,981
55,545|
||58,526|
||39,571
1,382,953|
||1,422,524|
The notes form part of these financial statements
Page 4
## **Yephess Charitable Trust**
## **Balance Sheet 5 April 2023**
|5.4.23
Unrestricted
funds
Notes
£
**FIXED ASSETS**
Investment property
6
847,398
**CURRENT ASSETS**
Debtors
7
20,000
Investments
8
392,039
Cash at bank and in hand
214,026
626,065
**CREDITORS**
Amounts falling due within one year
9
(9,696)
**NET CURRENT ASSETS**
616,369
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
1,463,767
**CREDITORS**
Amounts falling due after more than one year
10
(21,764)
**NET ASSETS**
1,442,003
**FUNDS**
11
Unrestricted funds
1,442,003
**TOTAL FUNDS**
1,442,003|5.4.22
Total funds
£
847,398
20,000
370,649
215,936
606,585
(9,695)
596,890
1,444,288
(21,764)
1,422,524
1,422,524
1,422,524|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
P Kraus - Trustee
The notes form part of these financial statements
Page 5
**Yephess Charitable Trust**
**Notes to the Financial Statements for the Year Ended 5 April 2023**
## **1. SCHEDULE OF DONATIONS TO INSTITUTIONS & STUDENT GRANTS**
|Achisomoch Aid|10,000|
|---|---|
|Yetev Lev|15,000|
|Chasdei Aharon Limited|10,000|
|Big Ben Trust|30,000|
|Beis Yaakov|3,500|
|Friends Of Mir|2,000|
|Grants below £1,000|870|
|||
||71,370|
|Student grants|3,387|
|||
|Total grants|74,757|
|||
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. 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.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from 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.
Page 6
continued...
**Yephess Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 5 April 2023**
## **3. INVESTMENT INCOME**
|Rents received
Profit on sale of investments
Deposit account interest
Curr asset inv income|5.4.23
£
46,560
-
23
12,373
58,956|5.4.22
£
52,258
7,170
68
8,601|
|---|---|---|
|||68,097|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|
|---|---|
||funds|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|30,000|
|Investment income|68,097|
|**Total**|98,097|
|**EXPENDITURE ON**||
|**Charitable activities**||
|Administration fees|2,981|
|Grants to institutions|55,545|
|**Total**|58,526|
|**NET INCOME**|39,571|
|**RECONCILIATION OF FUNDS**||
|Total funds brought forward|1,382,953|
|**TOTAL FUNDS CARRIED FORWARD**|1,422,524|
continued...
Page 7
**Yephess Charitable Trust**
**Notes to the Financial Statements - continued for the Year Ended 5 April 2023**
|**6.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 6 April 2022
and 5 April 2023
**NET BOOK VALUE**
At 5 April 2023
At 5 April 2022
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
5.4.23
£
Trade debtors
20,000
**8.**
**CURRENT ASSET INVESTMENTS**
5.4.23
£
Listed investments
392,039
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
5.4.23
£
Trade creditors
1
Other creditors
9,695
9,696
**10.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
5.4.23
£
Other creditors
21,764
**11.**
**MOVEMENT IN FUNDS**
Net
movement
At 6/4/22
in funds
£
£
**Unrestricted funds**
General fund
1,422,524
19,479
**TOTAL FUNDS**
1,422,524
19,479|||£
847,398|£
847,398|£
847,398|
|---|---|---|---|---|---|
||||847,398|||
||||847,398|||
||||5.4.22
£
20,000
5.4.22
£
370,649|5.4.22
£
20,000||
|||5.4.22
£
-
9,695
9,695
5.4.22
£
21,764
At 5/4/23
£
1,442,003||5.4.22
£
-
9,695
9,695
5.4.22
£
21,764|5.4.22
£
-
9,695|
||||||9,695|
|||1,442,003||||
continued...
Page 8
**Yephess Charitable Trust**
**Notes to the Financial Statements - continued for the Year Ended 5 April 2023**
## **11. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
98,956
**TOTAL FUNDS**
98,956
**Comparatives for movement in funds**
At 6/4/21
£
**Unrestricted funds**
General fund
1,382,953
**TOTAL FUNDS**
1,382,953
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
98,097
**TOTAL FUNDS**
98,097|Resources
expended
£
(79,477)
(79,477)
Net
movement
in funds
£
39,571
39,571
Resources
expended
£
(58,526)
(58,526)|Movement
in funds
£
19,479
19,479
At 5/4/22
£
1,422,524|Movement
in funds
£
19,479
19,479
At 5/4/22
£
1,422,524|
|---|---|---|---|
|||1,422,524||
|||Movement
in funds
£
39,571
39,571||
||||39,571|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 6/4/21
£
1,382,953
1,382,953|Net
movement
in funds
£
59,050
59,050|At 5/4/23
£
1,442,003|
|---|---|---|---|
||||1,442,003|
continued...
Page 9
**Yephess Charitable Trust**
**Notes to the Financial Statements - continued for the Year Ended 5 April 2023**
## **11. MOVEMENT IN FUNDS - continued**
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|197,053|(138,003)|59,050|
|**TOTAL FUNDS**|197,053|(138,003)|59,050|
## **12. RELATED PARTY DISCLOSURES**
During the year the charity received £40,000 of donations from a company of which a trustee of this charity is a director.
Page 10
**Yephess Charitable Trust**
## **Detailed Statement of Financial Activities for the Year Ended 5 April 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Rents received
Profit on sale of investments
Deposit account interest
Curr asset inv income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Management & administration
Grants made
Total resources expended
**Net income**|5.4.23
£
40,000
46,560
-
23
12,373
58,956
98,956
4,720
74,757
79,477
79,477
19,479|5.4.22
£
30,000
52,258
7,170
68
8,601|
|---|---|---|
|||68,097|
|||98,097
2,981
55,545|
|||58,526|
|||58,526|
|||39,571|
This page does not form part of the statutory financial statements
Page 11