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2020-12-31-accounts

CHARITY REGISTRATION NUMBER: 1083890

BELZ ISRAEL CHARITABLE TRUST Unaudited Financial Statements 31 December 2020

BELZ ISRAEL CHARITABLE TRUST Financial Statements Period ending 31 December 2020

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 to 8

BELZ ISRAEL CHARITABLE TRUST Trustees' Annual Report Period ending 31 December 2020

REFERENCE AND ADMINISTRATIVE DETAILS
Trustees Mr M Imann
Mr C Silbiger
Mr P Fink
Charity number 1083890
Principal office 48 Lynmouth Road
London
N16 6XL
Independent examiner Stone & Co. Services Ltd
3 Norfolk Avenue
London
N15 6JX

Page 1

BELZ ISRAEL CHARITABLE TRUST Trustees' Annual Report Period ending 31 December 2020

The trustees present their report and the unaudited financial statements of the charity for the period ending 31 December 2020.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is governed by a Declaration of Trust.

Organisational structure

The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trusees will apply suitable recruitment induction and training procedures. The trustees adminster the day to day running of the charity.

Risk review

The trustees confirm that there are no major risks to which the charity is exposed.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are:

  1. Helping disadvantaged people with access to grants, food packages and financial support (loans), whether directly or through other organisations in the UK and/or abroad.

  2. To promote any other exclusively charitable objects and purposes as the trustees see fit, provided that they are regarded as charitable by the laws of England and Wales

The trustees have considered the Charity Commission's general guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The trustees are pleased with the results of the year. The charity managed to raise the necessary funds required to reach their charitable objectives.

STRATEGIC REPORT

Reserve policy

The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they feel to be appropriate.

Future developments

There are no current plans to change the activities or modus operandi in the forseeable future.

Approved by order of the board of trustees on 4 May 2021 and signed on its behalf by:

Mr M Imann Trustee

Page 2

BELZ ISRAEL CHARITABLE TRUST

Independent examiner's report to the trustees on the unaudeted financial statements Period ending 31 December 2020

Independent examiner's report to the trustees of Belz Israel Charitable Trust ('the charity')

I report to the charity trustees on my examination of the financial statements of the charity for the period ending 31 December 2020.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of your charity's financial statements as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the 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 matters have come to my attention in connection with the examination giving me cause to believe:

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.

Stone & Co. Services Ltd 3 Norfolk Avenue London N15 6JX

4 May 2021

Page 3

BELZ ISRAEL CHARITABLE TRUST

Statement of Financial Activities Period ending 31 December 2020

Note
INCOME AND ENDOWMENTS
Donations and legacies
3
Total income
EXPENDITURE ON
Charitable activities
4,5
Support costs
4,5
Total expenditure
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Total
funds
funds
£
£
34,386
34,386
34,386
34,386
35,686
35,686
540
540
36,226
36,226
(1,840)
(1,840)
1,300
1,300
(540)
(540)
2020		 2019
Total
funds
£
4,726
4,726
7,044
-
7,044
(2,318)
3,618
1,300

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

Page 4

BELZ ISRAEL CHARITABLE TRUST Statement of Financial Position

Period ending 31 December 2020

Notes
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
7
NET CURRENT ASSETS / (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
TOTAL FUNDS		 2020
£
-
-
(540)
(540)
(540)
(540)
(540)
(540)		 2019
£
1,300
1,300
-
1,300
1,300
1,300
1,300
1,300

The financial statements were approved by the Board of Trustees on 3 May 2021 and were signed on its behalf by:

Mr M Iman

Page 5

BELZ ISRAEL CHARITABLE TRUST Notes to the financial statements Period ending 31 December 2020

1 GENERAL INFORMATION

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 48 Lyndmouth Road, London, N16 6XL.

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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', 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.

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.

3 DONATIONS AND LEGACIES

Donations received Unrestricted
Funds
£
34,386
34,386		 Total Funds
2020
£
34,386
34,386		 Unrestricted
Funds
£
4,726
4,726		 Total Funds
2019
£
4,726
4,726

Page 6

BELZ ISRAEL CHARITABLE TRUST Notes to the Financial Statements (continued) Period ending 31 December 2020

4 EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE

----- Start of picture text -----
Unrestricted Total Funds Unrestricted Total Funds
Funds 2020 Funds 2019
£ £ £ £
Grants to individuals 24,340 24,340 7,044 7,044
- -
Grants to institutions (see note 7) 5,346 5,346
Food distribution 6,000 6,000 - -
Support costs 540 540 - -
36,226 36,226 7,044 7,044
EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Grants Food Support Total Funds Total Funds
Advanced distribution Costs 2020 2019
£ £ £ £ £
Charitable activities 29,686 6,000 35,686 7,044
Support costs 540 540 -
29,686 6,000 540 36,226 7,044
----- End of picture text -----

5 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE

6 TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ending 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the period ending 31 December 2020.

7 GRANTS TO INSTITUTIONS

All donations were made to charities whose objectives are in line with the objectives of the charity. The composition of the donations is shown below.

Mercaz Torah Vechesed Limited
Belz Foundation Ltd
Other		 £
2,100
1,901
1,345
5,346

8 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals and deferred income 2020
£
540
540		 2019
£
-
-

Page 7

BELZ ISRAEL CHARITABLE TRUST

Notes to the Financial Statements (continued) Period ending 31 December 2020

9 Analysis of net assets between funds

Current assets
Creditors less than 1 year
Net liabilities
Current assets
Creditors less than 1 year
Net assets		 Unrestricted
Funds
£
-
(540)
(540)
Unrestricted
Funds
£
1,300
-
1,300		 Total Funds
2020
£
-
(540)
(540)
Total Funds
2019
£
1,300
-
1,300

10 RELATED PARTY DISCLOSURES

There were no related party transactions for the period ending 31 December 2020.

Page 8