Company registration number: 3845916 Charity registration number: 1077913
YOUTH ALIYAH- CHILD RESCUE CONTENTS Charity Inforn)ation Trustee5' Report Ind¢p¢ndent Auditor's Report 7- 10 Statement of Financial Activities Balance Sheets 12 Statement of Cash Flow5 Notes to the Accounts 14-26
YOUTH ALIYAH-CHILD RESCUE CHARITY INFORMATION Trustees M F Robinson Esq (Chaimian) A D Curtis Esq S M Strauss Esq Mrs B S Curtis Mrs L D M Robinson A J Taylor Esq Mrs A J Shields H Soning Esq B L¢av¢r Esq P Diamond G Spilal (Appointed on 20 (ktober 2021) S¢¢r¢lary Ms D M¢hdi Company number 3845916 Charity numb¢r 1077913 Registered office address 235 Regents Park Road Finchley London N3 3LF Prin¢ipal bankers HSBC 69 Pall Mall London. SWIY SEY Auditors Goldwins Limited Chartered Accountants and Regist¢r¢d Auditor5 75 Maygrove Road London NW6 2EG Solicitors Martin Paisner CBE Payne Hicks Beach 10 N¢w Squar¢ Lincoln's Inn London WC2A 3QG
YOUTH ALIYAH- CHILD RESCUE TRUSTEES, REPORT The trustees present their report and financial statements for the year ending 31 March 2022. STRUCTURE, GOVERNANCE AND MANAGEMENT l. Governin Doeument Youth Aliyah - Child Rcscue is a charitable CopanY limit¢d by guarantee, incorporated on 21 septeber 1999. The company was established under a Memorandum of Association, which established the obj¢¢ts and powers of ihe charitable company and is governed under its Articles of AssorÉaiion. In the event of the company being wound up, members are required to contributc an amouni not exceeding £1 O. intment of TrMstee5 All Directors of the Company are also TteeS of the Charity. All of rhe ttustees are named on page l. The board has the power to appoint additional Trustees as it considers fit lo do so. Under tlie requirements of the Articles of Asso¢iation one third of the Trnstees are required to retire by rotation at the Annual General Meeting. 3.or anisation The IKJard of trnstees administers the charity. The day-to-day operational re$ponsibili¢y is d¢l¢gated to the Chief Executive offic¢r who in tuni advises the Board on strategie and financial issues. The Board has overall responsibility for financial control of the Charity. The Board currently r¢¢eiv¢s quafterly management accounts. 4. Risk Mana tmenl The trustees have a risk manag¢Jnent strategy. which cornprises.. A r¢view olthe risks the charity may la¢e' T])e establishment of syst¢Jns and procedures to mitigate those risks identified in ihe plan. and The iinplementation of procedures designed to Illlnlllllse any potential impact on the charity should those iisks mal¢rialise. Over the past year, the risk managemeni strategy has b¢¢n r¢viewcd and implemented. The Treasurer 2tiended a chorities workshop in this regard which highlighted areas in which the strategy could be enhanced and strengthened. Consequently, the Treasurer is currcntly engaging in a process to develop the overall strategy. The Treasurer continues to provid¢ monthly reports to the Trustees covering investments and available funds in the charity. The Trustees are also issued a weekly report with details of the charity's incom¢. A key element in the management of financial risk is th¢ setting of a reserves policy and its regular review by tntees. S. Structure Melvin Robinwn continues to be Chairn)an. Aron Taylor continues to serve as Honorary Tr¢asurer. Daliah Mehdi eontinue5 to serve as Chief Executive OtTi¢er. The fundraising committee that was very active throughout the p¢riod of lockdowns and beyond has chosen to disband due to people's need to return to previous commitrnents. We intend to form a new committee once our new Fundraising and Events Manager is in place.
YOUTH ALIYAH- CHILD RESCUE TRUSTEES, REPORT OBJECTIVES AND ACTIVITIES Youth Aliyah Child Rescue raises funds to help support the maintenance of the 2,600 ehsldr¢n and youngsters currently residing in th¢ five Youth Villages and two leadership programm¢5 under the auspices of our charity. Thes¢ Children have been designated 'at risk, by the auihorities attd have voluntarily chosen (o enter our programme. In addiiion, the trllstees have CQTnmitted to supporting the Village Way Educational Initiatives for an initial period of thre¢ years. This support will help the programme, currently active in 49 educational settings, to take the ethos of our Youth Villages into other Youth Villages and educational institutions working with at risk children across Israel. As well as general maintenance (bridging the deficit of the government subsidy) we help fund major projects such as new dorniitories, sport$ and arts facilities, therapeutic programmes, and provide scholarships and vocational training. The activitie5 of the charity are broadly as follow5.. Two annual postal appeals- Rosh Hashanah and Pesach Quart¢rly newsletters (email alld pap¢r) Kol Nidre appeal in Synagogues Fundralsing ¢veNts through the year D¢v¢lopment of 'large givers. donor base and foundation5 Approaching and organising events for young professionals Development ofjoint veniures between our charity and youth mov¢m¢nts and schools AangIng visits olindividual donors ¢0 the villages A barll)ai miizvah charity project programme Maiketing and Publi¢ Relations {newsletters, website, e-n¢w$l¢tters, campaigns etc) L¢ga¢y programme {participaiing in J¢wi$li Legacy Campaign togetherwith 22 other chariti¢s). Events To accomtnodal¢ our older supporters, who wtr¢ less likely to feel comfortable attending in-person eveiits, we continued 10 hold a number of virtual talks using the Zoom platforni. 25 October 2021 Ivor Davis 22 Nov¢mb¢r Chris Tarrant 13 Decanber Alan Titchmarsh 10 January Dr Eva Schloss 18 January Heather Morris On 26 June 2022, six people participated in the Maccabi Fun Run for our charity. acies Legaeies atnounting to £13,103.18 were receivcd, as detakl¢d b¢low.' ae Amount Galvan Kodin Wartnab Total £5.000 £7 103.18 £i.000 £13,103.18 In addition to this, the two flats in the rental property on Portland R02d in Hov¢, b¢qu¢aih¢d io us by Stella Hartsilver Z'I, Continue to be rented and are generating regular in¢ome (or ih¢ ¢harity.
YOUTH ALIYAH-CHILD RESC TRUSTEES, REPORT VILLAGES All the villages and programmes that we support continue to Ine[it from annual maintenance funding, as well as scholarship funds for each village'5 m05t financially disadvantaged children. We focused on a major proj¢¢t this year. Eherefurbishment and expansion of Ihe Animal Therapy Centre at Talpiot. In light of the Russian war in Ukraine, there ha5 been a significant increase in the nutnber of both UkrainTan and Russian youth arriving in Israel. Three of our Youth Villages, n2mely Yemin Orde, Alon¢y Yitz¢hak and Neve Hadassah, have taken in groups of Ukrainian childr¢n sinc¢ the war began. Most have fonnal refugee ststus and have left their families behind. Some have a1Ved with the few family members who were allowed to leave. All hav¢ left fathers, uncles and brothers who have rcmained to fight. The needs of these children are extensive, ranging from basic physical needs such as shoes to ihe complex psychological affects of trauma. After completing the Animal Therapy Centre at Talpiot, we have focused our fundraising effortg on providing for the children who left Ukraine as a result of the war. In addition to Éhis, several other projects have been supported, as outlined below. Alone Yitzhak Ongoing funding was secured for a programme that provides the infraslructure that allow students io volunteer in the areas surrounding the youth village. This not only allows the young people to make connections with their broad¢r ¢omrnunity, it also allows them to recognise their own self-worth by seeing ihai they themselv have something to wve, rather than only being the recipients of charitable acts. Tal lot Through a focused fundraising ¢ampaign. we succeeded in raising £200.(M)O for the refurbishment and expansion of the AniTnal Therapy Centre. As well as doubling the capaciiy for this much loved and greatly needed therapy, thL5 project has also significantly improved the slaTrdard of aniinal welfare. With appealing new indoor and outdoor 5pace5, the Centre has become a favourite spot foi many of th¢ resident children, who clioose to spend much of their time there Outside of scheduled iherapy sessions. The thoughtful and innovative design and execution of ihis project have led this progrdmme to be r¢¢ognised 85 a model of excellence by the Welfare Ministry, which they hope to replicate in other nstitutions arouTtd the country. Neve Hadassah No special projects were funded this year. Yemin Orde Student accommodations were refurbished, allowing students to live in an appropriate setting. An additional year of funding was secured for the Na'ale Programme. which allows children from Lhe former Soviet Union to attend high school in Isia¢l, witl) th¢ Oplion to subsequently remain in1STael. The new staff housing was completed. Youth Aliyah Child Rescue paid for on¢ of eight farnily units and also arranged for a second unit to b¢ fund¢d by th¢ Ronson Family Foundation.
YOUTH ALIYAH- CHILD RESCUE TRUSTEES? REPORT ewa In addition to annual maintenance funds, additional fvnding was secured for the two pre-arniy leadcrship Imccliina) programmes. one for tnen and one for women. These prograinmes giv¢s at risk immigrant young people the additional traininE they need in order to have meaningful anny careers which. in turn, will prepare them for produeisv¢ civilian life on discharge. FIP*ANCIAL RF.VIEW We report a total incoine of £667,608. Our governance costs of £16.280. whicli are listed in detail on noie 6 of the Accounts, repres¢nt a ratio of 20/0 of totsl income. Our support costs of £65,277. which are also listed in detail on note 6 of the accounts, represent a ratio of 9.80/0 of total income. Our grants to tlie Villages in Israel totalled £767.092. The Trustees. reserves policy aims to maintain general reserves broadly equivalent to one year's support gnd governan¢¢ to ensure continuity of service. The general reserve a5 at 31 March 2022 stood at £1,377,908 and th¢ Trustees consider that this arnount meets their aitns and allows a further gutn to be distributed. The Finance and Operations Committee, consisting of AntOT) Curti5, Melvin Robinson, Aron Taylor, Grant Spital and Steven Strauss, meets quarterly to review and consider the chariry's investments. TIIE YEAR AHEAD As we began to return to a semblance of norni8ley following pandemic r¢striction$, Yourh Aliyah Child Re5¢ue embarked on an intensive strategic planning proeesg in ¢arly 2022. Working with consultants, we revised our Mission, Viskon and Values, recoi?figur¢d our ¢ommitt¢es, and set tasks for th¢ ¢oming years. Integral to our future success is creating and filling two jobs- Fundraising and Events Manager and Marketing and Administration Manager. Once these w)sitions have been filled we will look forward to planning in person ¢v¢nls. Th¢se will include a 90 anniversary Gala Dinner in Nov¢mb¢r 2023, ag well as a number of stnall¢r ev¢nts that are trustee-led designed to appeal to iheir own individual networks. light of the war in Ukraine and th¢ larg¢ number of refugee children being absorbed into our Youth Villages, our fundraisiTrg focus will b¢ on supporting these children and their complex needs. We are still looking to recruit a number of new trustees and committee members following a skills audil conducted during th¢ strategic planning process. Our goals for the corning year are the following To ratse funds to 5UPPOrt Ukrainian refugees To hi ¢wo new staff members To hold in person events in ord¢r to increas¢ th¢ amount of face-to-face contact with cuffent supporters and to engag¢ new supporters, as well as to raise funds To continue to improve our communication with our donors through regular newsletters and email communications
YOUTH ALIYAH- CHILD RESCUE TRUSTEES, REPORT To continue to raise the profile of the charity in the UK by optimisirtg all existing opportunities and creating new ones To continue ¢0 develop our trnsiee programme and fundrdising committees To build and strengthen relationships with Jewfftsh youth movements and s¢hools within the limitations of current distancing Eneasures To recruit further sUPPOrters oft to our board of truslees To continue to develop our barlbat mitzvah programme that encourages young people in the U.K. to raise money for peer aged at risk children in Israel. APPROVAL This Rewrt wes approved by the Board of Directors and Trustees on 1 DÈcÈmbÈr 2022 M Robinson E5q- {Chainnan)
YOUTH ALIYAH- CHILD RESCUE INDEPENDENT AUDITOR'S REPORT TO THE MLMBERS OF YOUTH ALKYAH- CEIILD RESCUE Opinion W¢ l)ave audited Ihe finatJcÈal State¢ntS of Youth Aliyah Child Rescue (the 'Charity') for the year end¢d 31 MaTch 2022 which comprise the Consolidated Statement of Financial Activities, the Group and Parent Charitable Company Balaiice Sheets, Consolidated slatement of cash flow5 and notes to the financial statements, including a summary of significant accounting policies. The financial reporting frainework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Piactice}- Opinion on financial statements In our opinion, the finftn¢ial 5tatement$= give a tru¢ and fair view of the state of the Group's and Parent Charitable Company's affairs as at 31 March 2022 and of the Group's income and expenditure for th¢ year then ended. have been properly prepared in accordance with United 'ngdoM Generally Accept¢d A¢counting Practice. have been prepared in accordance with the requirements of th¢ Compani¢s A¢t 2006. Basis for opinion We conducted our audit in accordance with International StandaTds on Auditing (UK) IISAS {UK)) and applicable law. Our responsibilities under those standards are further described in ihe Auditor's responsibilities for the audit of th¢ financial statements section of our report. We are independent of the Chority in accordance with the ethical requirements that are relevant to our audit of tlie financiAI statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our oiheT ethical responsibilitias in accordaRcc with these requirements. We believe thai the audit evidence we have obtain¢d Is 5ufficienl and approprkate to provid¢ a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, w¢ have wn¢luded ttmt the trustee's use of the going concern b&sis of accounting in the pr¢paration of the financial statement8 is appropriate. Based on the work we have performed, w¢ hav¢ not identified any material uncertainties relating to eyents or conditions that, tndividually or Collectively, may Cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statement5 are authorised for issue. Our r¢sponsibilities and the responsibiliiies of the direciors with respect to going concem are described in the relevant slI0S of this report.
YOUTH ALIYAH- CHILD RESCUE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YOUTH ALIYAH- CHILD SCUE Other information Th¢ trusle¢s are responsible for the other infonnation. The other infornialion comprises the infomiation included in the annu81 report. including the trustee's report, oth¢r than th¢ financial statements and our auditor'5 report thereon. The trustee is responsible for the other information contained within the annual report. Our opinion on the financial statem¢nts does not cover the other infom)ation and, except to th¢ ¢xt¢nt otherwise explicitly staled in our report, we do not express any fonn of assurance conclusion thereon. In connutlQD Wlth our audit of the financial slateinents, our responsibility is to read the other inforniaiion and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or oih¢n¥ts¢ appears to i materially Inisstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterniine whether this gives riy¢ lo a material misslatement in the financial statemenis themselves. If. based on the work we have perfornied, we conclude that th¢r¢ is a materia misstatemenl of this other information. we are required to report ihai fAct. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, bas¢d on tli¢ work undertaken in the course of the Audit.. the infomatÉon given in the trustees, report (incorporating the directors, report) for the rinancial yeat for whi¢h the financial statements are prepared is consistent with the financial statements,. and the trustees, report (incorporating the directors, report) have been prepared in accordance with applicabl¢ legal requirements. Matters on whl¢h we thre required to report by exeeptlon In the light of the knowledge and understanding of Éhe Charity and its environment obiained in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report. We have nothing to report in pt of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us., the financial siaiements not in agreement with the accounting records and reEums' certain disclosures of trustees, remuneration specified by law are not made,. or we have not obtained all the infonnation and explanations necessary for the pUoseS of our audit. Responsibilities of the trustees As explained more fully in the Trustees, Responsibilities Statement, th¢ trustces {who ar¢ also the directors of the charitabl¢ company for the purposes ofcompany law) are responsibl¢ forthe preparation of the financial statements and for being satisfied that they give a true and fatrview, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from rnat¢rial misstatement, whether due to fraud or etror.
YOUTH ALIYAH- CHILD RESCUE INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF YOUTH ALIYAH- CHILD RESCUE Responsibilities of the trustees {continued) In pr¢paring tli¢ financial slatements, the trustees are responsible for assessing the Charity'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 trnstees either intend io liquidate tlie Charity or to Cease 0ratIOns, or have no realistic alt¢rnative but to do so. Our respon$lbllÈti¢s for the audit of the finaneial statements Our objectives are to obtain reanabl¢ assurance about wheihei the financial statements as a whole are free from material misstatemeni, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assuranc¢, but is not a guarantee that an audit Conducted in accordan wsth ISAS (UK) will always detect a material misst8tem¢nl when it exists. Misstatem¢nts can arise fioin fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expecied to influence the economic decisions of users tsken on the basis of Éhese financial stat¢entS. Irregularitios, including fraud, are instances of non-¢onipliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect rnaterial mÈsstatements in respect of I¢gu]ar1Ites, including fraud. The extent to which our procedur¢s are ¢apabl¢ of detecting irregularities, including fraud is detailed below.. In identify'ng and assessing risks of mat¢rial misstatement in respect of irregularities, incliiding frdud and non-eoTnplian¢e with laws and regulations. our procedures included the following-. We enquired about management, which included obtaining atid revi¢wing supporting documentation, concerning the charity's policies and procedures relating lo.. identifying, evaluating, 8nd complying with laws and regulations and whether they were aware of any instances of non-complianGe,' o DetlIng and responding to the risks of fraud and whether they have knowledg¢ of any actual, suspecied, or alleged IrdUd- o The intemal con(rols established to mitigate risks relat¢d to fraud or non-cotnpliance with laws and regulations. We inspected the minutes of meetings of those charged with Eovemanre. We obtained understanding of the legal and regulatory fraework that the charity operates in, focusing on those laws and r¢gulations that had a material effect on the financial statements or that had a fundamental effect on th¢ operations of the charÉty from our professional and 5eetor cxpcrience. We reviewed the financial siatement disclosures and tested these to supporting documentation to assess coinpliance with applicable laws and regulations. We perfonned analytical procedures to identify any unusu81 or unexp¢¢t¢d r¢lationships that may indicat¢ risks of material misstatement due io Iraud. In addressing the risk of fraud Ihrougli management ovetTide of ¢ontrols, we tested th¢ appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting ¢stiTnat¢s are indicative of a potential bias and t&sted significant transactions that are unusual or those outside th¢ norn?al course of business.
YOUTH ALIYAH- CHILD RESCUE INDEPENDENT AiIDITOR'S REPORT TO THE LMEMBERS OF YOUTH ALIYAH-CHILD RESCUE Our responsibilities for the xudit of the financial statements (continued) B¢¢ause of th¢ inherent limitations of an audit, there is a risk th31 we will not delect all irregularities, includEng thos¢ leading to a malerial misstatement in the financial $tatements or non-compliance with regulation. Tlie risk is also gr¢&ler regarding irregularities occurring due lo fraud iaih¢r than ¢rror. as fraud involves intentional concealm¢nt, forgery, collusion, omission or misrepresentation. A further d¢scTiPtion of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. [www.frc.org.uklauditorsresponsibilitiesl. This description fornks part of our auditor's report. Use of our report This report is made solely to the charitable company's memb¢T5, as a body, in accordance with Ch2pler 3 of Part 16 of th¢ Companies Ac(2006. Our audit work has been undertaken so that we might state to the charity's members thos¢ matter5 we are required to state to them in an auditor's report and for no other purpose. To the fullest exr¢nt mitted by law, we do not accept or assume responsibility to anyone other than the chariry and the charity's memb¢rs as a body, for our audit work, for thi5 report, or for the opinions we have fonned. 14 December 2022 Anthony Epton (Senior Stathtory Auditor) for and on behalf of GoldMin$ Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EC Goldwin5 Limited is eligible for appotntment as auditor of the charity by virtue of Its eligibility for appointment as auditor of a company under scction 1212 of the Companies Act 2006. 10
Youth Allyah - Child Roscuo (Llmited by Guarant•o) Conso11dat Stat•rnent of financlal actlvltles (incorporating an income and expenditure account) For the year •nd8d 31 March 2022 2022 Total Funds 2021 Total Funds Funds Funds Fund8 Donations and legacies Other trading aclivilie5 Investments Other income 164,743 8,095 30,287 11,889 386,320 25,000 37 551.063 33.095 71,561 601,486 150,048 71,963 39,617 41,237 Total In¢ome 210.014 411A67 41.237 667.608 863,114 Expndlturn on: Raising funds Charitable activities 129.641 38.690 1,926 759,959 17,234 148,801 50.000 848,649 192.651 949,717 Totsl •xwnd1ts4r• 168,331 761MS 997A50 1,142,368 Not Ineomo I l•xpgndlture) boforn net galns 1 (109888) on 46,683 1360M 125.9971 (329,842) {279,2541 Nel gain5 1 Ilossesl on investments Net Income I(8xpduro) for th• y••r 80,706 400,378 46M3 (36OA28 701 1249.136) 121,124 Transfers between funds 237376 237 Not In¢omo1 (oxp•ndlturn) before other recognId galns and loss 1190,6921 (113263) 64709 (249,1381 121,124 14•t mowmont In funds (4?0,2 1113233) 64.709 1249,1361 121,124 R•conclllatlon of lund•: Total funds brought fomard 1.568,500 143.991 2,044.393 3 766 3.635,760 Total funds carrfed fomrd 1A77I08 30,738 2,099,102 3,507,748 3.756.884 All of the above SUItS are derived from continulng activities. There were no other re(x>gnis8d gains or losses other than those stated above. The attached notes form part of these financi81 staternents.
Youth Allyah - Chlld Rescue ILlmlt•d by Guarantse) Balance shegts AS at 31 March 2022 GROUP 2022 2021 2022 2021 Flxed aM•ts: Tangible assets Investment properties Investments 10 11 12 18.649 18.707 950,000 2,012,369 18.649 18,707 950.000 3.098.176 2.981,076 968.549 968,707 Cunnt a•8Ot•: Debtors Cash at bank and in hand 13 10,335 10.512 783,278 35,512 726,254 468h16 793,790 49&940 761.766 Uabllttlx. Creditors-. amounts lalling due within one year 14 {17,9821 117.9821 409,sn 775.808 440,097 743.784 Total not as80ts 3,807.748 3,756,884 IA08 1.712,491 Fun Reslricled funds Capital Endowments Unreslricled ftjnds.. General funds 30,n8 2,099.102 143,991 2.044,393 143.991 1,377,908 1,568.500 1.377.908 1,568,500 Total funds 3.507.748 3,756,884 1AOB.646 1,712,491 The financial stalernents have been prepared iri accordan with the speaal provisions foT small companies under Part15 of the Companies Act 2006. Approved by the Iwstees on ........ and signed on their behall b M Roblnson A Taylor Treasuror Company regl8tratlon no. 03845916 The attached notes fom) part of the finaneial stalemenls. 12
Youth Allyah - Chlld Rescuo {LImIt by Guarantee) Consolldated Statement of cash fl¢yws For the year ended 31 March 2022 2022 2021 2021 Cagh flow8 fr(xn oporatlng act. Nel cash provided by I lused inl operating activities 19 (356,376 1315.6511 Cash flow8 from knvostlng actlvftlo8: Interestl renu dividends from investments Salel Ipurchasel of fixed assets Salel Ipurchasel ol inveslments 71,661 (352) (36,5521 71.963 11.586 C4•h prov1d by l {u¥•d In) Invostlng actl¥llt6• 31.177 83.549 Cash provlded by l (u8od In) flmnclng aGtlvlU Change In cash and cuh wulvalonts In tho y 13198) {232,1021 Cash and cash equivalents at the beginning of the year 1.015.380 Cash and ¢a¥h oqufvalgnts attho olth? y 4K080 783,278 13
Youth Allyah - Chlld Rescue (Llmlt•d by Guarantse) Notes to the flnanclal statements For the year ended 31 March 2022 1 Accountlng polkleg a) Ba•18 of praparatlon The financial statements have been prepad in acwrdance with Accounting and Reporting by Charities.. Statement ol Recommended Pracb'ce applicable to charities preparing their accounts in accordan¢e w¢lh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 - effecb've 1 January 20151- Icharities SORP FRS 1021 and the Companies Act 2006. The charitable company meets the definition of a public benefit entily under FRS 102. Assets and liabilities are initially recogniseé at historical cost or transaction value unless otherwise stsled in the relevant accounting policy or note. Group fln•n¢lal statemnts The financial statements consolidate the results of Youth Aliyah - Child Rescue and its subsidiary undertakings on a line by line basls. A separate statement of finanaal activities lor the chsrity excluding consdidated organisations is not presented as the company has taken advantage of the exempts'on afforded by Section 408 of the Companies Act 2006. b) Golng concern The trustees ¢onsider that there are no material un¢ertainlies about the charitable company's ability lo continue as a going conGern. The trustees do not consider that there are any sources of estimation UnrtaInty al the reporting dale that have 8 significant risk of causing a material adjustment lo the carrying amounts of 8ssels and liabilities wthin the next reporting period. ¢) In¢om• Income is recognisetl when the charity has entillemenl to the funds. any performan¢8 ctsnditions attached lo the income have been mel. il Is probable that the income will be received and that the amount can be measured reliably. Income f¥om govefnmenl and other grants. whether 'capital' grants or 'revenue' grants. is racognised when the char¢ty has entitlement to the funds. any performance conditions attached to the grants have been met, il is probable that the income will be ceiVed and the amount can be measured reliably and is not deferred. In¢ome ceiVed in advance for the provision of specified seNce is defeNed until the criteiia for income recognition are met. For legaues, entillemenl is taken as the earlier of the date on which either_ the charity is aware that probate has been granted, the estate has been finalise(J and nolific81ion has been made by the executorlsl to the charity that a distrtbulion will be made, or when a distribution is received from the estate. Receipt of a legacy. in whole or in part, is only considered probable when the amount ¢an be meaSUd reliably and the charity has been notified ol the execulorfs intention lo m¥ke a distribution. Where IaCleS have been notified lo the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been mel, then the legacy is a treated as 8 conlingenl asset and disclosed if material. d} Donatlons olglfts, *ervku and fa¢llltl Donated professtonal service5 and donaled facilitses are recognised as income when the charity has control over the item or recelved the service, any conditions associated with the donation have been mel, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be ffleasured reliably. In accordance with the Charities SORP IFRS 1021. volunteer lime is not recognised so refer lo the liuslees, annual report for more information about their contribution. On reipl, donated gifts, professional services and donated facilitses are recognised on the basis of the value of the gift lo the charity which is the 8mounl the charity would have been willing lo pay lo obtain seNtces or f8cililies of equivalent economic benefit on the open mad(el', a wrresponding amount is then recognised in expenditure in the period of receipt. 14
Youth Allyah - Chlld Rescue (Llmlted by Guarantso) Notes to the flnanclal statsments For the year endod 31 March 2022 1 A¢counllng polkles (contlnu•d) •) IntOrn8t ro¢•lvab Interest on funds held on deposlt Is included when reIV3b1e and the amount can be measured liably by the charity.. this is normally upon nolificalion of the interest paid or payable by the bank. fj Fund accountl Unreslricled funds are available lo spend on acliwlies that further any of the purposes of charity. Designated funds are unrestricted funds of the ¢harily which the Iruslees have decided at their discretion to sel aside lo use for a specific purpose. Restricted funds are donab'ons whi¢h the donor has specified are lo be solely used for particular areas of the charity's work or lor specific projects being undertaken by the charity. 9> Expgndltuv• •nd Irr•covarabl• VAT Expenditure is re¢ognis$d once there is a legal or constructive obligation lo make a payment lo a third party, il is probable that settlement will be required and the amount of the obligation can be MeaSud reliably. Expenditure is classified under the following activity headings.. Costs of raising funds comprise of trading costs and the costs in¢urred by the charitable company in inducing third parties lo make voluntary contributions lo it. as well as the cost of any activities with a fundraising purpose. Expenditu on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their assoc(ated support costs. Other expenditure represents those items not falling into any olheT heading. Irwe¢overable VAT is charged as a cost against the activity for which the expenditure was incurred. h) Allo¢allon of •upport costs Support costs are those functions that assist the work of the charity but do nol directly undertake charitsble aclivilies. Support costs include back office costs, finance. personnel, payroll and govemance ¢osts which support the charity and ils and activities. These cogts have been allocated between cost of raising fLJnds and expenditure on charitable actiwties. The bases on which support costs have been allocated are Set out in note 6. l) Oporatlng leag Rental charges are Charged on a straight line basis over the lemi of the lease. J) Tanglbh fix•d •uet8 Ilems of equipment are capitalised where the purchase price exceeds £1,ODO. Depreciation is provided al rates calculated to write down the cost of e8ch a55el lo ils eslimaled residual value over its expected uselul life. The d8prtrcialion rale5 in use are as follows= Computer equipment SofbNare Office equipment and furnitu 25.1. Slraighl line method Straight line method Reducing balan method 15/ k) Inv0thTrt prop•rtloS Investment prDperties are included in the balance sheet at lair value and are not depreciated. Any change in fair value is recognised in the stslemenl of financial 8clivilies. The valuation method used lo delennine fair value will be slated in the notes lo the accounts. 15
Youth Allyah - Chlld Rescue (Llmlted by Guarantso) Notss to the flnanclal statements For the year ended 31 March 2022 1 A¢¢ountlng polkles (contlnued) Ustfjd Inv•stm•nts Investments are a form of basic financial instrument and are initially recognised al their transaction value and subsequently measured al their fair value as at the balance sheet date using the closing quoted market prics. Any change in fair value will be cOgnised in the statement of financial actiwlies. m) D•btorn Trade and other debtors are recognised al the selllemenl an70unl. Prepayments a valued at the amount prepaid. n) Cash at bonk and In hand Cash al bank and cash in hand includes ¢85h and short lemi highly liquid investments with a short maturity ot the months or less from the date of a¢quis11ion or opening of the dep0511 or similar account. o) Credltors provJ8lons Creditors and provisions are recognised where the charity has a present obligab'on sUItIng fiom a past event that prob8bly result in the transfer ol fLJnds lo a third party and the amount due lo sellle the obligation can be measured or estimated reliably. Creditors and provisions are nomially recognised al their settlfjment amount. p) Flnanclal Instrumonts The charity only has financial assets and financial liabilities of a kind that qualify as basi¢ financial nstruments. Basic financial instruments are initially re¢ognised at transaction value and subsequently measured at their setuemenl value with the exception of bank loans which are subsequently measured al amortised Cost using ihe effective interest method. q) Ponslons The charity operates a defined contribution pension scheme. The cost of the contributions made by the charity to the scheme are charges to profit and loss as Incurd. 16
Youth Alryah - Chlld Raeue {Llmltod by Guarantse) Notes to th• financlal Statements For the year end•d 31 March 2022 2 Dotalled comparadvm forth• 8tst•meTht of flnonclal acOvltl•s (wloryw) 2021 Uniestricled Funds 2021 Restricted Funds 2021 Endowment Funds 2021 Total Funds In0 from: Oonations and legacies Other trading acb'wtses Investmenis Other income 262.782 6.556 30,972 39,617 338,704 143.492 268 601,486 150.048 71.963 39,617 40.723 Total Income 339,927 482,464 40,723 863,114 Eyndltsrn on: Raising fLJnds Charitable activities 174,749 487,561 1.926 437,156 15,976 25.ODD 192.651 949.717 T¢Aal •xp•ndlture 662.310 439.082 40.976 1.142,368 Net Inme I wendlturn beforo galns l (los) on Invostjnonts 1322,3831 43,382 12531 1279,2541 Nel gains I11055esl on investments Not In¢om& l expendllure 100.000 1222,3831 300.378 300.125 400,378 121,124 43.382 Transfers beeen funds Net Income l (•xpondlturn) befor• Other rncognl•od galn8 and IosM8 1222.3831 43.382 300,125 121,124 N•t movemnt In fynth 1222,3831 43,382 300.125 121,124 Total funds brought forward 1,790,883 100,609 1.744,268 3,635.760 Total funds Carrf fonvavd 1.568,500 143,991 2,044,393 3,756,884 17
Youth Aliyah - Chlld Rescue (Llmlted by Guarantee) Notes to the flnanclal statem•nts For the year ended 31 March 2022 3 Income from donatlon8 and l•gxl 2021 Total Unrestricted Restricted Endowment Total DorTalions Legacies 151,640 13.703 386,320 637,980 13,103 571,168 30.318 164,743 386,320 OSlm3 601,486 4 Incom• from othor tradlng actlvltl•• 2022 Total 2021 Total nStriCted Reslricled Endowment Functtons Other events 25.IX 143,492 6,556 8,095 8,095 33,095 150,048 6 In¢om• from Invojtmenth 2022 Total 2021 Total Unrestricled Re51ricled Endowment Bank interest Rent Investment income 37 283 30.972 40,708 30,287 41,232 41,232 30.287 41237 71.661 71,963 18
Youth Allyah- Chlld RCu• ILlmlted by Guarants•) Nots8 to tho tlnanclal 8tatsm•nts For th• ear onded 31 March 2022 Anaty•h Of•xp0ndVO a¢tivities C051 of 8a$l$ of alloc8lDn Grants payable Support Goveman¢e costs costs 2022 Totsl 2021 Total funds Granis payable Fundraising and Stsff wsts Rent and rates Insurance Light and He81 In¥e51menl kyopety repalrs and rnaintenan Ic8 costs Dir0¢1 IT Cost5 DireGt TdÈphone Dire Prlnling. postage arKI Stationery Direct Travel 8xpenses Oirect Legal arml professional Direct Endowment portfdio management Dire Audit fee Direct AccA)unlancy s8rvi¢es Direct Bank charge5 ie Exchange rate losses I Igainsl Dire Depretln Direct Direct Direci Direct Direct Direct Direct 767.092 767.092 29,008 117.S96 13.200 3.153 842,862 62.020 148.030 13.200 3,322 153 29,C68 98.685 18,910 13.200 3,153 225 DI¢1 2.237 2,237 072 14,705 610 6.045 572 14,785 610 578 922 15,365 524 fjfjo 1.682 9,273 3,332 15.390 e.900 12,126 2,409 4.212 16,838 6,600 9.680 8,800 9,680 2,153 11.383) 3.9KI 997AEO 1,142,368 2.153 11,3831 3,426 65,277 165,2771 564 767.092 65,277 16.280 848,849 148.801 148,801 16.280 Support costs Govemance costs Total •xpondttth12022 Totsl expenditure 2021 116,2801 997NSO 949.717 192.651 1.142.368 Of the lolal expeIlUre, £168,331 was Un$tl¢12021.. £662,310>, £761,885 was restri¢ted12021". £439.0821 and £67,234 was endowments12021. £40.S761. Grants payable include grants to inslilulions In Isra4 for edurational wrposes. Anatysh of•xp•ndlturv (prforyoarl Charit3bl8 Basis tsf 811ocafro Grants payaNe Cost of raising Support Governan¢e costs costs 2021 To181 Grants paYae Direct Fundraislng and Promob'on Direct Staff costs Direct Rent and lates Direct Insurance Dlrect Loht arKI Heal Direct Investment prop&rty repairs and Direcl Office costs Direct ITCosts Dire¢t Teiephone Direct Prinliro. posl4e and slaiiDnwy Direct Legal and Profess>nal Direcl Endowment rortfolio management Dire¢1 Audil fee Dir8el Attountay serwces Dlrect Bank charges Oirect Exchange rai8 Ioss85 1 Igainsl Direct Dewecia1n Direct 842,862 842.862 62,020 148,030 13,200 3,322 153 6,045 922 15,365 308 1.682 3.332 15,390 6,900 12.126 2.409 4,212 4,090 19,026 1,142,368 62,020 98.5 49,345 13,200 2.613 709 153 6,045 922 7.006 308 727 3,332 8,359 955 15,39) 6,900 12.12 2.409 4,212 3,755 87,829 187.8291 335 192,651 842,862 87.829 19,026 949,717 Support costs Governance costs Total expÈndilure 2021 119,0261 192,651 1,142.368 19
Youth Allyah - Chlld Rescue (Llmltod by Guarantee) Notes to the flnanclal statsments For the year ended 31 March 2022 7 Not Income l {wndItU) for thfy yo•r Thi5 Is slated after charging I Icreditingl-' 2022 2021 Operating lease rentals.. Propety Depreciation Audilorfs remuneration lexclu(ting VAD.. Audit fees Foreign exchange Igains) I losses 13,200 3,990 13,200 4,090 5,500 8 Analysls of Staff costs, Iru•to0 r•mun•ratlon and •xpens8s, and th• costof k•y m•nagomont personn Staff costs were as follows.. 2022 2021 Salaries and wages Social security costs Employer's contribution lo defined conlribuiion pension schemes Redundancy and terminations ¢osts 108,308 131,673 9,457 2,140 4,760 1.621 117,595 148.030 The following number of employees received employee benefits lex¢luding employer pensionl during the year beeen.. 202Z No. 2021 No. £70,000 - £79.999 The total employee benefits including pension contributions of the key management personnel We £86,555 12021. £84.037) The charity trustees were not paid or received any other benefits from employment with the charity or its subsidiaries in the year12021.' £Nill neither were they reimbursed expense5 during the year12021.' £Nill. staff numbor8 The average number of employees (head count based on number of staff employed) during the year was 8$ follows.. 2022 2021 No. Raising funds Support The charitable company is exempl liom corporation tsx as all ils Sncome is charitable and is applied for charitsble purposes. 20
Youth Allyah - Chlld R•scu8 (Umltod by Guarantee) Notes to the flnanclal statsmonts For the year ended 31 March 2022 10 Tanglbl• Ilxed ass•ts- Group and Charfty Office Compulef Equipment Equipment Sofvare Total Al the start of the year Additions in year Disposals in year 28,411 3,832 3,906 21,505 63M22 Al the end of the ye8r 32,243 21.505 J7,654 D8prnclatlon At Ihe start of the year Charge lor the year Eliminated on disposal 12,506 1,935 3.027 132 19,582 1,923 35.116 Al the end of the year Not book valuo 14,441 3.159 21,505 39.106 At th• Ond of th• y••r 1702 747 18M9 At the start of the year 15,905 879 1.923 18,707 l of the above assets are used for charitable purposes. 11 Invo$t PTOPgrt1•ts. Group and Charlty 2022 2021 Fair value al the start of the year Additions Disposals Revaluafj'on during the year 95Oml 850,000 100,000 Fair value al the end of the year 950,000 12 Inveslments. Group 2021 Inv••trnent• at f•lrvalu•." Investment funds & bonds Listed investments- UK Listed investments- Non UK Cash 666,871 541,278 316,981 925,124 1.167.2S5 523.825 78 20 22.142 2.129*27 2.012,369 Markel value al the start of the year Additions at cost Disposals 81 carrying value Realised & unrealised gainlllossl Market value at the end of the year 2,012A69 1,723,577 81,232 40,708 {44,680) 152,2941 1.706 300,378 2,129.627 2.012.369 21
Youth Allyah - Child ResGuo {Umltsd by Guarantoe) Notes to the financlal stat•ments For the year ended 31 March 2022 13 Dobtorn. Group 2021 Other debtors Prepayments and accrued income 8,910 1A26 1,100 9.412 10.335 10,512 D¢btorn. Ch•rKy 2022 2021 Other debtor5 Prepayments and ac¢rued income Amounts due from subsidiary undertaking 8,910 IA2S 76,0 1,100 9,412 25,000 85,335 35.512 14 Cr•dltorn." amounts falNng due *fthln om year- Group and Ch•rlty 2022 2021 Trade creditors Acciuals Taxalitsn and social security Grant payable 9,343 8,100 539 6,6iXI 40,000 17,982 16 Pen8lon 8ch•mo The assets of the pension scheme are held separately from those ol the charity. in independgnlly administered funds. 22
Youth Allyah - Chlld Rescue {Llmited by Guarantee) Notes to the financlal statements For the year ended 31 March 2022 16 Suhldlary Und•rtaklngs Detailed below is a list ol the charity's subsidiary undertakings. both of which are registered in England and operate within the United Kingdom. Both of the subsidiary undertakings listed below hold endowment funds the income from which Is rtislribuled to the Villages in Israel. Their activibes are managed by Youth Aliyah - Child Rescue at its principal place of business. Namo of 8ub•ldl•ry Undertaklng Children and Youth Aliyah c0mItte for Great Britain and Eire Bas1• of Con•olldallon Common management control Youth Aliyah - Child Rescue Scholarship and IAainlenance Fund Common management control MovemBnt In P•fflMnont Endowm•nt Funds InvTrt 1 Aprll G•lns I Group 31 March 2021 In¢om• (Losses) Expndliure Transfern 2022 Children and Youth Aiyah Committee for Great Britain and Eire 1,229,334 8,121 62,350 (10,4911 1.289.314 Youth Aiy8h - Child Rescue Scholarship and Maintenance Fund 815,059 33,116 18,356 156.7431 809,788 2.OM.393 41237 80.706 167,234) 1099,102 The ChilL4ren and Youth Aliyah Committee for Great Brit8in and Eire pem8nent endowment fund provides for the trustees to invest the Capital in perpelLtily and is managed on a total return basis. The tnjslees. at their discretion, may allocate any part of the unapplied total tUrn lo cultural enrichrnent programmes for the Youth Aliyah Villages in Israel. The Youth Miyah Child Rescue S¢holarship and Maintenance permanent endowment fund is provided lo enablo the investrnenl income arising ihereon to be applied in the provision of scholarships lo Students in the Youth Aliyah Villages in Israel. 23
Youth Aliyah - Chlld Rescue (Llmlt8d by Guarantee) Not•s to the financlal 8tatem•nts For tho year ended 31 March 2022 17 Anatysls of not •s•el• batw•en funds Gfrneral unreslrtcted Restricted Endowments Tolal fvnds Tangible fixed assets Inveslfflent properties Investments Nel current assets 18.549 950,000 18.549 960.000 2.129,627 2,129.627 30,525 409A72 409.359 30.738 Not as8et• atthfr end of tho y 30 738 2 099 102 3 607 748 18 Movem•nts In lund8 Incoming resources & gains Outgoing resources & Transfers In At th• end losses (Outi of tho ya•r Al the start of the year Yemin Orde Aloney Yitzchak Talpiol Alv 147.590 17,567 95,261 5,000 145,939 {334,5581 {84,9051 1189,8601 186,968 43,684 23.654 120.337 119,1621 1126,7771 125.0001 25.000 131,4001 31,400 {77.000 77,000 Nvh Tom The Village Way Total roStrk fvnd8 143.991 61 411.367 237.275 Jo,n8 Caphal end0Y9Trts 2.044,393 121.943 167,234} 2,099.102 G•n•rnl funds 1.568.500 215,014 (168,3311 1237,2751 1.377 Total unr05trfGt•d lund8 3.612,893 336,9S1 235MS 237.276 3,477,010 Total funds 17560 748J14 997A80 3,007.748 Purpo•os of ro¥¢rf¢ funds Each restricted lund represents a separate village c)r project for which funds have been reslricled for the purposes of prowding educational and support & maintenance grants. 24
Youth Allyah - Child Rescug {Llmlted by Guarantso) Notes to the financlal statements For the year ended 31 March 2022 19 Roconclllatlon of not InM01 {WdItre) to net Ilow from oporadng a¢tlvltlos 2022 2021 N•t In¢ome l (oxpgndlturo) forthe r•portlng Porl*xl {as p•r tho 8tal•mont of flMnclAI actlvltleg) Depreeialion Interest, rent and diwdends from investments Gainsl Ilossesl on investments Ilncreasell decrease in d&blors Increa5el (decrease} in CditorS Nst ¢h prOvId by l {us•d In) 0rnn9 actl¥ltleg (249.136) 121,124 3,990 4.090 (11,661) {71.963) 180,706) {400,378} 177 33,429 40,861 1,953 3S6,37 315,651 20 An•1$ ol ca•h and cash equlvahnt• Atl Aprll 2021 Cash flows At31 March 2022 Cash at bank and in hand Deposits (less than three monihsl Overdraft facility (repayable on demand) 783,278 1325,1981 458,000 Total cash and cuh equlvalents 325,198 783378 Zl d58.IXO 21 Operatlng leam comml Tol81 future minimum lease payments under non-c8n¢ellable operating leases are as follows.. 2022 2021 Less than 1 year 1 5 years Over 5 years 13200 13,200 14200 13.200 22 Contlngent a8•ats or Il•bllttl•s The charity is a company limited by guarantee and has no share capital. Each member is liatre to conttibute sum not exeeeding £10 in the event of the charity being wound up. None of the trustees have been paid any remuneration or received any other benefit from the charity or a related enlily. During the year, the charity received the donations from the trustees of £41,440. There are no other donation5 from related parties which are outside Ihe normal course of business and no restricted donations from related parties. 25
Charltablo Company Notss to the flnanclal Statèments For tho year •ndod 31 D•combor 2022 14 Sub•ldlary UndArl•klng• Iprltsryq•r) N•m(t ofSuhSdl•ry Und•rtaklra Children and Youtrh Allh Committee forGre81 Britain and Eire Youth Aliyah- Chik1 Rescue Stholarship arK4 Mainlenanee Fund Common mana9emenl conMI Common managefflgnt wntrol Mo¥•ffl•ntln Perminonl End1 Iprforywl l Aprfl 2020 G•Sn¥ I Gro 31 Ir¢ ILo•8•BI Exp•nthtur• TrAD&farn 2021 Children and Youlh Aliyah Comtnlttee for Great Bntsin and Eire Youth AIiy8h- Child ResrAJe Scmlarshlp arvj Maintenance Fund 983,047 12.298 245.259 1112701 t229,334 761.221 1.744.268 28.425 40,723 55.119 300.378 29.7r 40.976 815.059 2,044.393 The GhildTrn 8fLd Youlh Aiyah Committee for Gre81 BtaIn and Eire pemianenl endo¥vmenl fund provides for the trustees to Invest the capStal In perpeluity and ts fflgnage¢S on a total retum basis. Th8 iruste88. al their discrètion, rnay allorate any part of the U[Trap1 iofal rplurn lo culluial enrichmant programmo$ fwthe Youth Aiyah Willages in Israel. The Youih Miyah - Chikl R95cug ScholarsNp and Maini&nante p8rmarnt èndowment fund Is provided to enable th8 irweslm8nt income aTh5ing Ihemn to be applied in the provision of scho[Ships to stthlenls in Ihe Youth lYah Vill898s in Israel. 25 An•l¥ of nBt•M•ts b•tsw•Alunth Iprforyw) G•n#rnl Yotsl nrwtrf¢tod R••trkl•d Endowmnts fvnd• T8n9ibl& fixed assets Irweslrnenl properties Inve51rnents Nel current assets 18,707 950.000 18.707 950,000 2.012.369 775.808 2.012.369 32.024 599,793 143,991 N•tu¥•ts •t th• ondofthg y•Ar 1,568.500 143,991 2.044.393 3.756.884 Incomlng OutgolTrJ Atth• •l•rt mourt• & r••OuT & Tr•n¥f•rn Attr• •nd fth• yv•r In 10th) ofth• y••r 26 Mmm•nts In {prtoryMr) R•strktsd fvnd•: Yamin Orde Aloney Yi12ch8k TalpKIl Tom Sundry The Villa9È Way 165.372 13.353 155.747 25,orx) 2.500 120.492 165,372 68.448 35.410 25.000 2,500 142,352 78.749 23.654 120.337 Totsl mJtrlEl•dfundB 100,609 482,464 439.082 143,991 pr1 Endtswm G•n•rallund 1.744.268 1.790.883 341,101 439.927 40,976 662.310 2.044,393 1.568.500 TolAI unrMtrlcl•d fur 3.535,151 781.028 703.286 3.612.893 Tol•l lund• 3,635.760 1.263.492 1.142.368 3,756.884 Each restricted fijnd repsents a separ810 Vlage or proj8¢1 forwhich funds havtr been rgslriclgd for Ihe purposes of provldirKJ durational atMI support & maintenance grants. 26