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2022-03-31-accounts

Charity registration number 1063727

FRIENDS OF YESHIVA HAZON MEIR

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FRIENDS OF YESHIVA HAZON MEIR

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Statement of financial position 5
Notes to the financial statements 6 - 8

FRIENDS OF YESHIVA HAZON MEIR

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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

The charity's objective is to provide education and support to under privileged children in Israel.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The trustees are satisfied that donations made during the period subsequently have achieved the charity's objectives.

Financial review

Details of the transactions and financial position of the charity are given in the attached financial statements.

It is the policy of the trustees that unrestricted funds which have not been designated for a specific use should be maintained at a level deemed reasonable by the trustees. At the year end, there is a surplus of £20,128 (2021: £131) and the trustees are satisfied that there is a realistic expectation of further future funding will be received. Also, the charity has little overheads and therefore the trustees believe there is no need for them retain high level of reserves at the present time.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The charity plans to continue raising funds through its trustees and make donations to meet its objectives, as it has been doing since it was established. There will be no changes and the trustees are satisfied in regards to this.

Structure, governance and management

The charity was established by a charitable trust deed on 22 May 1997.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr H Elias

E Shasha

Mr D Ishack

Future trustees will be recruited and appointed by the existing trustees.

The charity is governed by the terms of its charitable trust deed and all decisions are made by the trustees. There are no employees.

PUBLIC BENEFIT

The trustees confirm that they have complied with their duty to have due regard to the public benefit in exercising their powers or duties.

FRIENDS OF YESHIVA HAZON MEIR TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 The Trustees. report was approved by the Board of Trustees. Mr H Elias TruMe¢ 7 March 2023

FRIENDS OF YESHIVA HAZON MEIR

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FRIENDS OF YESHIVA HAZON MEIR

I report to the trustees on my examination of the financial statements of Friends of Yeshiva Hazon Meir (the charity) for the year ended 31 March 2022.

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 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

Peter McMahon ATT CTA 5 Technology Park Colindeep Lane Colindale London NW9 6BX United Kingdom

Dated: 8 March 2023

FRIENDS OF YESHIVA HAZON MEIR

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Unrestricted
funds funds
2022 2021
Notes £ £
Income from:
Donations and legacies 2 26,000 6,636
Expenditure on:
Charitable activities 3 6,003 7,636
Net income/(expenditure) for the year/
Net movement in funds 19,997 (1,000)
Fund balances at 1 April 2021 131 1,131
Fund balances at 31 March 2022 20,128 131

FRIENDS OF YESHIVA HAZON MEIR STATEMENTOF FINANCIAL POSITION AS AT31 MARCH 2022 2022 2021 Notes Current a55ets Cash at bank and in hand 20,128 131 Net current assets 20,128 131 Income funds Unrestricted funds 20.128 131 20,128 131 The financial statements were approved by the Trustees on 7 March 2023 Mr H Elias Trustee

FRIENDS OF YESHIVA HAZON MEIR

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Friends of Yeshiva Hazon Meir is an unincorporated charity established by a charitable trust deed on 22 May 1997. The principal office is Elias House, 3 Aintree Road, Perivale, Greenford, Middlesex, UB6 7LA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5 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.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FRIENDS OF YESHIVA HAZON MEIR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.7 Taxation

The charity is exempt from tax on its charitable activities.

2 Donations and legacies

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Donations and gifts 26,000 6,636

FRIENDS OF YESHIVA HAZON MEIR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

3 Charitable activities

Charitable Charitable
Expenditure Expenditure
Heading 1 Heading 1
2022 2021
£ £
Donations made 6,000 7,636
Share of support costs (see note ) 3 -
6,003 7,636

4 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2022 2021
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

5 Related party transactions

During the year, the charity received donations of £6,000 (2021: £6,636) from a charity in which H Elias is a trustee.