REGISTERED CHARITY NUMBER: 1081887
Report of the Trustees and
Unaudited Financial Statements FOR THE YEAR ENDED 31 December 2023
for
BRITISH FRIENDS OF SHALVA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
BRITISH FRIENDS OF SHALVA
Contents of the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Cash Flow Statement | 6 |
| Notes to the Cash Flow Statement | 7 |
| Notes to the Financial Statements | 8 to 11 |
| Detailed Statement of Financial Activities | 12 |
BRITISH FRIENDS OF SHALVA
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 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 objectives for which the charity is established are to relieve the suffering of disabled children living in Israel by promoting and supporting the work of Shalva, particularly but not exclusively through the provision of funds and equipment not normally provided by the local authority/health authority and central government, respite accommodation and holidays where applicable and personnel to enable the children to receive medical service, education and employment training.
The charity operates throughout England and Wales and Israel.
Activities
This charity raises funds for the Shalva Centre in Jerusalem, Israel. Shalva provides a respite home for children with severe mental and physical disabilities, which accord with the objectives of the charity.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grantmaking policy.
Volunteers
The charity has no UK volunteers.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The results for the period at the year end were considered satisfactory by the trustees.
A summary of the charity's transactions and of it's financial position are shown in the financial statements together with the accompanying notes.
Fundraising activities
During the year the charity spent £81,842 (2022: £23,080) on fundraising events.
FINANCIAL REVIEW
Financial review
The charity is solely dependent upon donations from individuals and other charitable organisations.
The trustees present the financial accounts for the year which show income for the year of £764,791 (2022: £528,148) and total expenditure of £742,026 (2022: £477,788).
Reserves Policy
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely governance costs of the charity for the next year.
FUTURE PLANS
The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory incoming resources.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The official name of the charity is British Friends of Shalva. The charity is governed by its declaration of trust dated 21st December 1999 as amended by resolution dated 12th July 2000 as amended by resolution dated 7th July 2014.
The charity was registered with the Charity Commission on 7th August 2000.
Page 1
BRITISH FRIENDS OF SHALVA
Report of the Trustees
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
All current trustees are honorary members. The trustees administer the day to day affairs of the charity. New trustees undergo suitable recruitment training and induction procedures. None of the trustees have any beneficial interest in the charity.
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed, in particular those related to those operations and finance of the charity, and are satisfied that systems are in place to mitigate those risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1081887
Principal address Suite 174 The Kinetic Business Centre Theobald Street Borehamwood Hertfordshire WD6 4PJ
Trustees
Mr J H Corre Ms D Fisher Mr R Kannor Mrs M Shemtob Mrs L Harris Mr S P Sterling
Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Bankers Lloyds TSB PO Box 1000 Andover BX1 1LT
Approved by order of the board of trustees on 20 May 2024 and signed on its behalf by:
Mr J H Corre - Trustee
Page 2
Independent Examiner's Report to the Trustees of British Friends of Shalva
Independent examiner's report to the trustees of British Friends of Shalva
I report to the charity trustees on my examination of the accounts of British Friends of Shalva (the Trust) for the year ended 31 December 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Daniel Fine, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
20 May 2024
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BRITISH FRIENDS OF SHALVA
Statement of Financial Activities
FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 764,791 EXPENDITURE ON Raising funds 3 211,854 Charitable activities 4 Grants to Shalva Centre 450,000 Charitable activities 80,172 Total 742,026 NET INCOME 22,765 RECONCILIATION OF FUNDS Total funds brought forward 167,793 TOTAL FUNDS CARRIED FORWARD 190,558 |
2022 Total funds £ 528,148 208,414 220,000 49,374 477,788 50,360 117,433 167,793 |
|---|---|
The notes form part of these financial statements
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BRITISH FRIENDS OF SHALVA
Balance Sheet 31 DECEMBER 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 377 CURRENT ASSETS Debtors 10 39,030 Cash at bank 162,284 201,314 CREDITORS Amounts falling due within one year 11 (11,133) NET CURRENT ASSETS 190,181 TOTAL ASSETS LESS CURRENT LIABILITIES 190,558 NET ASSETS 190,558 FUNDS Unrestricted funds 190,558 TOTAL FUNDS 190,558 |
2022 Total funds £ 406 32,394 147,303 179,697 (12,310) 167,387 167,793 167,793 167,793 167,793 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 20 May 2024 and were signed on its behalf by:
Mr J H Corre - Trustee
The notes form part of these financial statements
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BRITISH FRIENDS OF SHALVA
Cash Flow Statement FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash (used in)/provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ 15,483 15,483 (502) (502) 14,981 147,303 162,284 |
2022 £ 64,210 64,210 - - 64,210 83,093 147,303 |
|---|---|---|
The notes form part of these financial statements
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BRITISH FRIENDS OF SHALVA
Notes to the Cash Flow Statement
FOR THE YEAR ENDED 31 DECEMBER 2023
| 1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges (Increase)/decrease in debtors (Decrease)/increase in creditors Net cash provided by operations |
ACTIVITIES 2023 £ 22,765 531 (6,636) (1,177) 15,483 |
2022 £ 50,360 691 2,649 10,510 64,210 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.23 | Cash flow | At 31.12.23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 147,303 | 14,981 | 162,284 |
| 147,303 | 14,981 | 162,284 | |
| Total | 147,303 | 14,981 | 162,284 |
The notes form part of these financial statements
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BRITISH FRIENDS OF SHALVA
Notes to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2023
1. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instrument
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 transaction price, 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.
continued...
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BRITISH FRIENDS OF SHALVA
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023
2. DONATIONS AND LEGACIES
| Donations Gift aid RAISING FUNDS Raising donations and legacies Event management Fundraising |
2023 £ 725,761 39,030 764,791 2023 £ 81,842 130,012 211,854 |
2022 £ 495,754 32,394 528,148 2022 £ 23,080 185,334 208,414 |
|---|---|---|
3. RAISING FUNDS Raising donations and legacies
4. CHARITABLE ACTIVITIES COSTS
Grants to Shalva Centre Charitable activities 5. GRANTS PAYABLE Grants to Shalva Centre 6. SUPPORT COSTS Management £ Charitable activities 76,871 |
Grant funding of activities Support (see note costs (see 5) note 6) £ £ 450,000 - - 80,172 450,000 80,172 2023 £ 450,000 Governance Finance costs £ £ 1,253 2,048 |
Totals £ 450,000 80,172 530,172 2022 £ 220,000 Totals £ 80,172 |
|---|---|---|
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
continued...
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BRITISH FRIENDS OF SHALVA
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 8. STAFF COSTS Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Employees No employees received emoluments in excess of £60,000. 9. TANGIBLE FIXED ASSETS COST At 1 January 2023 Additions At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Gift Aid repayments |
2023 2022 £ £ 17,480 17,808 791 534 18,271 18,342 2023 2022 1 1 Computer equipment £ 2,764 502 3,266 2,358 531 2,889 377 406 2023 2022 £ £ 39,030 32,394 |
|---|---|
continued...
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BRITISH FRIENDS OF SHALVA
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2023
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Taxation and social security Other creditors |
2023 £ 262 10,871 11,133 |
2022 £ (137) 12,447 12,310 |
|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
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BRITISH FRIENDS OF SHALVA
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Total incoming resources EXPENDITURE Raising donations and legacies Event management Fundraising Charitable activities Grants to institutions Support costs Management Wages Pensions Software expenses Postage and stationery Advertising Travelling expenses Administrative costs Consultancy fees Rent Computer equipment Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net income |
2023 £ 725,761 39,030 764,791 764,791 81,842 130,012 211,854 450,000 17,480 791 3,530 393 2,964 25,618 216 16,816 8,532 531 76,871 1,253 2,048 742,026 22,765 |
2022 £ 495,754 32,394 528,148 528,148 23,080 185,334 208,414 220,000 17,808 534 3,681 581 3,587 5,865 216 6,112 7,387 691 46,462 1,014 1,898 477,788 50,360 |
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This page does not form part of the statutory financial statements
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