BRITISH FRIENDS OF THE GIBRALTAR KOLLEL ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2023 BRITISH FRIENDS OF THE GIBRALTAR KOLLEL ANNUAL REPORT YEAR ENDED 30 SEvfEMBER 2023 CONTENTS Infomlation Trustees, report Independent Examiner's Report Accounts BRITISH FIUENDS OF THE GIBRALTAR KOLLEL ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2023 INFORMAT ON Trustees Rabbi A Hassan SVM Cohen Y Ibgui AS Belilo N Hassan Charity number 1071809 Registered address l Holden Road Salford Manchester M7 4NL Bankers The Royal Bank of Scodand plc 38 Mosley Street Manchester M60 2BE Inland Revenue Number XR32621 Independent Examiner Lorna Maynard FCCA International Commercial Centre Casem2tes Gibraltar BRITISH FIUENDS OF THE GIBRALTAR KOLLEL ANNUAL REPORT YEAR ENDED 30 SEFfEMBER 2023 TRUSTEES, REPORT The trustees present their report and accounts for the year ended 30 September 2023. Legal The British Ftiends of the Gibraltar Kollel is constituted by Deed of Trust d2ted I l December 1997 and is a registeted charity since 2 October 1998. Aims The Ch￿1t￿ble objectives of the charity are to advance educ2ti0n in the Jewish faith by assisting young men to become Rabbis, to provide support for Jewish education in schools, to advance relw.ous activities in synagogues 2nd for the relief of poverty. Trustees The trnstees during the year were the following. Rabbi A Hass2n - Chairn12n SVM Cohen - Treasuter Y Ibgui AS Belilo N Hassan Review of progress and achievements The charity commenced its work on 2 October 1998 and the trustees are satisfied with the results to date. Review of financial activities The charity. achieved a total income from donations of £61,722 and from bank interest of £316. There was an expense of £40 from banL- charges. Donations towards the above objectives were £61,686 2nd tliere were no other expenses. The general fund cattied forwatd at the year end was £26,341 and included a surplus of £312 for the year. Fot and on behalf of the trnstees SVM Cohen - Treasutet Date AS Belilo - Trustee Date 18/07/2024 18/07/2024 BRITISH FRIENDS OF THE GIBRALTAR KOLLEL ANNUAL REPORT YEAR ENDED 30 SEIYfEMBER 2023 INDEPENDENT EXAMINER?S REPORT TO THE TRUSTEES OF BRITISH FRIENDS OF THE GIBRALTAR KOLLEL. I report on the accounts of the charits, for the year ended 30 September 2023. which are set out on page 5 and 6. Respective tesponsibilities of trustees and examiner The charity S tmstees are responsible For the prepatation of the accounts. The charityr's ttustees consider that 2n audit ts not required for this year under section 144 (2) of the Chatities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibi]ity to: examine the accounts under section 14) of the 2011 Act, to follow the procedures laid down in the genetal ditections given by the Charity Commission (undet section 145(5)(b) of the 2011 Act, and to state whether particulat mattets have come to my attention. Basis of independent examiners report M), examination was cattied out in 2ccord2nce with gener21 Directions given by the Chatity, Commission. An eLqmination includes a review OE the accounting records kept by the charitlT and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, 2nd consequently no opinion is given as to whethet the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement beloiv. Independent examinefs statement In connection with m): examination, no matter has come to m}r attention: which gives me teasonable cause to be]ieve that in, an3T matetial respect, the requirements: to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare 2ccoiints which 2CCOtd with the accounting records 2nd comply with the accounting tequitements of the 2011 Act have not been met" or 2. to which, in m! opinion, attention should be drawn in otder to enable a proper understanding of the accounts to be reached. Lorna Maynard FCCA International Commerc Casemates Gibraltar al Centre 18ikJoS BRITISH FRIENDS OF THE GIBRALTAR KOLLEL ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTS Receipt and payments account fot the year ended 30 September 2023 2023 2022 Income receipts Don2tions from voluntary sources Bank interest income 61, 722 316 62, 038 115, 434 68 115, 502 Total receipts Ditect payments Payments to charitable causes Bank Charges 61, 686 265, 944 60 Total payments 61, 726 (266, 004) 312 Statement of assets and liabilities at 30 September 2023 2013 2022 Monetary assets Cash at bank 49, 169 39, 650 Cuttent liabilities Other creditors (22, 828) (13, 621) Net assets 26, 341 26, 029 Genetal Fund Opening balance Surplus/(Deficit) for the year 26, 029 312 176, 531 (150, 502) Closing balance 26, 341 18/07/2024 26, 029 The accounts were signed and approved on behalf of the trustees on SVM Cohen - Treasuret AS Belilo - Trnstee BRITISH FRIENDS OF THE GIBRALTAR KOLLEL ANNUAL REPORT YEAR ENDED 30 SEFfEMBER 2023 Notes to the Accounts - Accounting policies Statement of accounting policies The following accounting policies have been applied consistendy in dealing with items which considered material in relation to the financial statements. Basis of pteparation These financial statements have been ptepared in accordance with the Statement ofRe¢orn22Jended Practzce (the SORP) and in accoidance with applicable Accounting Standards. Basis of accounting The financial statements prepared in accordance with the historical cost convention. Recognition of income Income from donations is recognised in the petiod for which it is received. All income from short-tern] deposits is credited to the income and expenditute account in the period in which it is eamed. Foteign currency translation Transactions denominated in foreign currencies are recorded using the rate of exch2nge ruling at the date of the trans2ction. Monetary assets and liabilities denominated in foreign cuffencies are translated at the rates of exchange ruling at the end of the financial period with all resulting exchange differences being taken to the income and expenditure account in the period in which they arise. Taxation Tlie Cliarity is a iegistered charity and accordingly is exempt from taxation. Liquid tesoutces Liquid tesources indude sums on short-term deposits with recognised banks and building societies. Related paty transactions None of the trustees were paid any remunetation OI expenses dwing the yeat. Othet creditors Other creditors include mainly donations that will be paid to the charities during the following year.