CHARITY REGISTRATION NUMBER: 1083890
BELZ ISRAEL CHARITABLE TRUST Unaudited Financial Statements 31 December 2023
BELZ ISRAEL CHARITABLE TRUST Financial Statements Period ending 31 December 2023
| 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 9 |
BELZ ISRAEL CHARITABLE TRUST Trustees' Annual Report Period ending 31 December 2023
| 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 |
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BELZ ISRAEL CHARITABLE TRUST Trustees' Annual Report Period ending 31 December 2023
The trustees present their report and the unaudited financial statements of the charity for the period ending 31 December 2023.
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:
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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.
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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 September 2024 and signed on its behalf by:
Mr M Imann Trustee
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BELZ ISRAEL CHARITABLE TRUST
Independent examiner's report to the trustees on the unaudeted financial statements Period ending 31 December 2023
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 2023.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Stone & Co. Services Ltd 3 Norfolk Avenue London N15 6JX
4 September 2024
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BELZ ISRAEL CHARITABLE TRUST
Statement of Financial Activities Period ending 31 December 2023
| Unrestricted funds Note £ INCOME AND ENDOWMENTS Donations and grants 4 272,283 Total income 272,283 EXPENDITURE ON Raising funds 5 1,079 Charitable activities 6,7 300,301 Total expenditure 301,380 NET INCOME/(EXPENDITURE) (29,097) OTHER INCOME 9 PROFIT FOR THE YEAR (29,088) RECONCILIATION OF FUNDS Total funds brought forward 50,792 TOTAL FUNDS CARRIED FORWARD 21,704 |
Restricted funds £ - - - - - - 2023 |
Total funds £ 272,283 272,283 1,079 300,301 301,380 (29,097) 9 (29,088) 50,792 21,704 |
2022 Total funds £ 119,501 119,501 68,904 68,904 50,597 - 50,597 195 50,792 |
|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
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BELZ ISRAEL CHARITABLE TRUST Statement of Financial Position Period ending 31 December 2023
| Notes CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS / (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
£ £ 97 22,447 22,544 (840) 21,704 21,704 21,704 21,704 21,704 2023 |
2022 £ 51,332 51,332 (540) 50,792 50,792 50,792 50,792 50,792 |
|---|---|---|
The financial statements were approved by the Board of Trustees on 4 September 2024 and were signed on its behalf by:
Mr M Iman
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BELZ ISRAEL CHARITABLE TRUST Notes to the financial statements Period ending 31 December 2023
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 STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3 ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
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.
Taxation
The charity is exempt from tax on its charitable activities.
Incoming resources
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
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.
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BELZ ISRAEL CHARITABLE TRUST Notes to the Financial Statements (continued) Period ending 31 December 2023
3 ACCOUNTING POLICIES (continued)
Grants payable
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4 DONATIONS AND GRANTS
| Unrestricted Funds £ Donations received 272,283 Grants received 272,283 EXPENDITURE ON RAISING FUNDS Unrestricted Funds £ Fundraising and publicity 1,079 1,079 |
Restricted Funds £ - Restricted Funds £ - |
Total Funds 2023 £ 272,283 - 272,283 Total Funds 2023 £ 1,079 1,079 |
Total Funds 2022 £ 119,500 119,500 Total Funds 2022 £ - - |
|---|---|---|---|
5 EXPENDITURE ON RAISING FUNDS
6 EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
| Grants to individuals Grants to institutions (see note 8) Other charitable activities costs Support costs |
Unrestricted Funds £ 156,369 82,243 51,790 9,899 300,301 |
Restricted Funds £ - |
Total Funds 2023 £ 156,369 82,243 51,790 9,899 300,301 |
Total Funds 2022 £ - 51,660 17,244 68,904 |
|---|---|---|---|---|
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BELZ ISRAEL CHARITABLE TRUST
Notes to the Financial Statements (continued) Period ending 31 December 2023
7 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Donations paid Other charitable activities costs Governance costs |
Direct Costs £ 238,612 51,790 290,402 |
Support Costs £ 9,899 9,899 |
Total Funds 2023 £ 238,612 51,790 9,899 300,301 |
Total Funds 2022 £ 51,660 17,244 68,904 |
|---|---|---|---|---|
8 TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ending 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the period ending 31 December 2023.
9 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.
| Areivim Belz Foundation Ltd Cosmon (Belz) Limited Dover Sholem Community Trust Kollel Mesivta Ltd Moreshet Hatorah Ltd Revach Vehazola Trust Yedidim Association Ltd Yeshuos Shabbos Donations less than £2,000 |
£ 10,000 9,585 5,525 7,600 2,000 14,814 2,823 3,424 24,000 2,472 82,243 |
|---|---|
10 DEBTORS
| Other debtors | 2023 £ 97 97 |
2022 £ - - |
|---|---|---|
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BELZ ISRAEL CHARITABLE TRUST
Notes to the Financial Statements (continued) Period ending 31 December 2023
11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accruals and deferred income ANALYSIS OF NET ASSETS BETWEEN FUNDS Current assets Creditors less than 1 year Current assets Creditors less than 1 year |
2023 £ 840 840 Unrestricted Funds £ 22,544 (840) 21,704 Unrestricted Funds £ 51,332 (540) 50,792 |
2022 £ 540 540 Total Funds 2023 £ 22,544 (840) 21,704 Total Funds 2022 £ 51,332 (540) 50,792 |
|---|---|---|
12 ANALYSIS OF NET ASSETS BETWEEN FUNDS
13 RELATED PARTY DISCLOSURES
There were no related party transactions for the period ending 31 December 2023.
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