Registered number: 04094203 Charity number: 1084272 UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (A Company Limited by Guarantee) TRUSTEES, REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel CONTENTS Page Reference and Administrative Details of the Company. its Trustees and Advisers Trustees. Report Independent Auditors. Report on the Financial Statements 8-12 Consolidated Statement of Financial Activities 13 Consolidated Ineome and Expènditure Aeeount 14 Consolidated Balance Sheet 15 Company Balance Sheet 16 Consolidated Statement of Cash FIoNvs 17 Notes to the Financial Statements 18-30
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trustees Z. C. Remez P. A. Sussmann J. E. Swidler R. J. Kemp Company registered number 04094203 Charity registered number 1084272 Registered ¢)ffice 1 sl Floor Sackville House, 143-149 Fenchurch Street London, EC3M 6BL Principal operating office Unil 7, 56b Crewys Road, London, NW2 2AD Company secretary Z. C. Remez Honorary president E. Hellerstein Independent auditors Wilder Coe Ltd, Chartered Accountants & Stalulory Auditors, 1 sl Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL Page 1
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees (who are also directors of the charity for the purFM)se of the Companies Acll present their Annual Report together with the audited financial slalemenls of UK Friends Of The Association For The Wellbeing Of Israel's Soldiers (the company and the group) for the year 1 April 2022 10 31 March 2023. The Annual Report serves the purFM)ses of both a Trustees. report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current slalulory requirements, the requirements of the charitable company's governing d(Ument and the provisions of the Statement of Recommended Practs"ce ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191. Since the group and the Company qualty as small under section 383 of the Companies Act 20C6, the Group Strategic Report required of medium and large companies under the Companies Act 20C6 Islralegic Report and Directors, Report) Regulations 2013 has Èeen omilled. Objectives and activities a. POLICIES ANO OBJECTIVES The principal objectives of the charity as set out in the governing documents are.. 1. The relief of need and suffering of serving and discharged Israeli soldiers and their families., 2. The advancement of education of serving and discharged Israeli soldiers,. and 3. To provide or assist in the provision of facilities for recreation or other leisure time occupations in the interest of social welfare. There have been no changes in the objectives since the last Annual Report. b. STRATEGIES FOR ACHIEVING OBJECTIVES The strategies employed to achieve the charills aims and objectives include undertaking fundraising aclivib'es and events lo raise money lo be able lo donate to Israel through the connected charity The Association for the Wellbeing of Israel's Soldiers in Israel and other approved organisalions so that the funds can be spent lo meet the above objectives. c. PUBLIC BENEFIT The Trustees confirm that they have, in the adminislralion of the charity, paid due regard to the public benefit guidan published by the Charity Commission under section 4 of the Charff(ies Act 2011. Page 2
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Achievements and performance a. REVIEW OF ACTIVITIES In pursuit of the objectives listed akx)ve, the charty and its subsidiary undertook the following actwities during the period.. The charity held virtual fundraising events as well as an in person events contributed to the donations received by the group. The charity received donations including gift aid in the year totaling £727.43712022.. £262.242). The significant increase in donations in the year lo 31 March 2023 was as a result of the following.. 2022 was considered lo be a low year in regards to donations due to there being no normal annual dinner due to the COVID-19 pandemic which therefore restricted the level of donations. In the current year. Charity Extra platform campaigns were undertaken which raised the profile of the charity and hence led to increased levels of donations. Donations are made at the full discretion of the trustees of UK Friends of the Association of Israel's Soldiers l UK Friends of AWIS I, and are given only to support projects that the Trustees deem lo be consistent with the objectives of UK Friends of AWIS. The Trustees regularfy travel to Israel lo ensure that the funds sent from the UK are applied consislenlly with the charity's objectives. The charity does not undertake projects directly themselves but provides funding for projects being undertaken by other organisalions that have been pre- approved by the Trustees. The total level of donations made to other charities totalled £292,35812022.' £121, 8221. Example of projects that were funded and the level of funding provided during the current year are.. Embra project - £46.920 - to provide funding lo help with the well-being of soldiers as specified by their base Commanders including lone soldiers, injured soldiers, including the observance of religious and national holidays. Scholarships - £17.688 which provides funding for underprivileged former Israeli soldiers lo obtain higher education by covering the full cost of tuib'on at an accredited institution as well as related expenses such as textbooks. AINIS-Israel for varioLJS welfare projects - £207,720 Refurbishing leisure facilities for r&reats'onal purposes- £20,030 A review of costs in the current year compared to the prior year indicated that most costs have been consistent year on year with the exception of hotels and travel costs. During the current year. E. Hellerslein. the honorary president, paid 3 visits lo London during 2023 compared lo 2022 due lo the COVID restrictions. In addition, the charity paid for guest speakers lo travel from Israel lo the London to address donors at various events held during the year. Tre costs seen are more in line with pre-pandemic levels of expenditure. Page 3
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Achievements and performance Icontinuedl b. Fundraising activities and income generation The charity continues to have the ongoing SUPFX)rt of a number of regular donors and SUPFX)rters who donate on an annual basis for the various causes the charity SUPFK)rts. Towards the end of the prior year. the charity decided lo make use of Charity Extra lo assist with the fundraising efforts. They were engaged to operate virtual fundraising events because it became impractical to hold large dinners due to the COVID restrictions and therefore the charity had sll a decline In donab.ons reived. Virtual events using a fundraising platform were considered to be an appropriate altemative lo raise the charity profile and increase the level of donations. There were salisfaclory results of the first events as reviewed by the trustees and therefore they were encouraged to repeat these events during 2023 and into 2024 year end. The donab.ons received directly from Charity Extra in the year was £179,089 with aSs(lated fundraising and payment prasSing fees of £12,235 11 Is however noted that addib.onal donab.ons were pledged or paid directly to the charity as a result of these online campaigns The trustees made a decision. after the year end in September 2023. to pay towards the voluntary Fundraising Regulator levy now that they are more actively fundraising in this way as they understand the ImFX)rtance of following the Code of FLJndraising Pracb"ce Trustee monitor the outcome of all fundraising efforts by reviewing the level of donations reiVed and the costs involved lo assess whether this has been effective. There were no complaints connected lo the fundraising efforts in the year to March 2023. However, since the year end and after the ongoing conflict and the events of 7th October. a complaint has been raised lo the Charity Commission in relation to some of the fundraising conlenl and this Is currently being Investigated by trustees and with the Chanty Commission Financial review a. RESERVES POLICY The charity had total funds of £666.613 as at 31 March 2023 12022.. £440,706) The charitys subsidiary undertaking, UK AWIS Trading Limited had equity shareholders, funds of £2 as at 31 March 202312022. £21. Donations received by the charty arE applied for the purposes of the charity as soon as It Is practicable. The charity retains sufficient reserve funds to meet expenses. No reserves are designated. The usual reserves poliw of the charity is lo hold funds to the equivalent of 3 months of ongoing costs as a contingency. In recent years, the level of reserves held has been significantly higher than this. Due to the knock on impact of the COVID-19 pandemic, fvnds have been held back due to the Inability of Iruslees and donors alike to visit projects due to the travel restrictions. This meant that there was less oversight on how the funds were to be spent In Israel and a dlSIon was made to reduce the funding sent for the short term In addition, many projects were held up due to the lockdown restrictions and therefore funds have not been transferred unb"I pro1tS move forward The trustees are making an active effort lo distribute excess funds In a timely manner moving forwards. Page 4
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 b. PRINCIPAL FUNDING The charity is funded through donations reWed throughout the year. Expenditure during the year is mainly in relation to the fundraising events and initiatives which are organised in order to raise money to meet the objectives of the charity. Structure, govemanee and management a. CONSTITUTION The company is rIStered as a chari(able company limited by guarant and was set up by a Memorandum of Association on 12 October 20(X). The company's charity number is 1084272 and its registered company number is 04094203. The company is registered at the following address.. 1 sl Floor Sackville HoLJse 143-149 Fenchurch Street London EC3M SBL b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the Group and the Company is the resFK)nsibility of the Trustees who are elected and co- opted under the terms of the Articles ofAssocialion. Trustees are apFoinled al the discreb.on of the acting truStS al the Annual General Meeb"ng. There is no set policy In place for the induction and training of new trustees and this is arranged as required. c. ORGANISATIONAL STRUCTURE AND DECISION MAKING The charity holds a 1(X)'kn shareholding In UK AWIS Trading Limited, whole principal actwity is to SLJPPOrt fundraising for the charity through Its trading activities There are no other members of the group The board of Trustees, of a minimum of three members, administers the charity. The Trustees who serviced during the year were as fr)Ilows'. Z. C Remez P. A Sussmann J. E. Swidler R J. Kemp The honorary preSent Is E. Hellerstein. The companls bankers are National INeslminster Bank plc. Chatham Rcsc, Western Avenue, Waterside Court, Chatham Maritime, Chalham, Kent, ME4, 4RT. The company's auditors are Wilder Coe Ltd. Ghartered Accountants & Statutory Auditors, 1 st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 68L. Page 5
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Structure, govemance and management Icontinuedl d. PAY POLICY FOR SENIOR STAFF All directors. who are also trustees of the charity. give their time freely and no director received remunerab'on in the period12022." £Nill. e. RELATED PARTY RELATIONSHIPS The charity has a very close relationship with The Association for the Wellbeing of Israel's &)Idiers In Israel. a charity registered and operating in Israel. A summary of transactions with this party is set out in note 16 to the financial slalements f. RISK MANAGEMENT The Trustees have assessed the major risks lo which the Group and the Company are exposed, in parb"cular those related to the operations and finances of the Group and the Company, and are satisfied that systems and procedures are In place to mitigate exposure to the major risks. Plans for future periods a. FUTURE DEVELOPMENTS The charitys plans for the future are consistent with the objectives identified wthin this report The charity will continue to support and fund projects and activities In line with the objectives as the Trustees S fil The ongoing hostilites betrween Israel and Gaza will necessrtate further conlnbutions to assist the wounded soldiers and their families as well as lone soldiers who have been serving In the war. TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees (who are also the directors of the Company for the PLJrposes of company lawl are responsible for preparing the Trustees. ReFX)rt and the financial slalements In accordan with applicable law and United Kingdom Accounb"ng Standards (United Kingdom Generally Accepted Accounbng Practi} Company law requires the Trustees to prepare financral slalements for each financial year Under company law, the Trustees musl not apprDve the financial slalements unless they are satisfied that they gwe a true and fair view of the slate of affairs of the Group and the Company and of their Incoming resour9 and application of resources, Including their Income and expenditure, for that peri(xl. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles of the Charities SORP.. make judgments and accounting estimates that are reasonable and prudent.. and prepare the financial slalements on the going cOnM basis unless il is inappropriate to presume that the charitable Group will continue in operation. The Trustees are responsible for kpIllg adequate accounb'ng records that are sufficient lo show and explain the Group and the Company's transactions and disclose with reasonable accuracy al any b.me the financial K)silion of the Group and the Company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the Group and the Company and hence for taking reasonable steps lor the prevention and detection of fraud and other irregularib'es. Page S
UK FRIENDS OF THE ASSOCIATIOM FOR THE TLLBEING OF ISRAEL'S SOLDIER8 (A Comparby Umited lry Guarant8•1 TRUSTEES. REPORT ICOPrnNUEDI FOR THE YEAR ENDEO 31 MARCH 2023 DISCLOSURE OF INFORMATION TO AIJDITORS Each of the rson5 are Tntstees at the tune this Trustees, Report Ès approved has confim)8d that.. so far as that Trustee is aware. is m relevant audit infmbon of the tharilab group's audtfors are unaware. and that TrLtstee has taken al Iho steps that wght to lve been taken as a TrLfSto8 in ordef to be gw8r8 of arry rel8vant audrt informakn afKI to establish that thanlable gTOUP'S aL•jitO are awdre of that informalknn. AUDrroRS The auditors. Wlder Cc Ltd. have thair to cyJnlinue in office. The designaled TN$1 wll proposa a nbjtion reappointing the auditors at a meètirwJ of the Trustees. This rert aFvoved by the Trusteès. on ... Z.Y.. aThJ Sign on their behalf by. P. A Sus5mann Truste81 P•Je 7
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS Opinion We have audited the financial slalemenls of UK Friends of the ASslatIon for the Wellbeing of Israel's Soldiers (the 'parent charitable company'l and ils subsidiaries Ilhe 'group'l for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Aclivilies, the Consolidated Income and Expenditure Account, the Consolidated Balance Sheet. the Company Balance Sheet, the Consolidated Slalemenl of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reFK)rting framework that has tEen applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporb"ng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally ACpted Accounting Practi1. In our opinion the financial stalemenls.. give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2023 and of the Group's incoming resources and application of resources, including ils income and expenditure for the year then ended., have been properly prepared in accordan with United lfjngdom Generally ACpted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 20CE and the Charib'es Act2011. Basi5 for opinion We conducted our audit in accordance wff(h Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial statements section of our rewrl. We are independent of the Group in accordan with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom. including the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees. use of the going conrn basis of accountsng in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that. individually or collectively. may cast significant doubl on the Group's or the parent charitable company's ability lo continue as a going concern for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this rewrt. Page 8
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS ICONTINUEDI other information The other information comprises the information included in the Annual Report other than the financial statements and our Auditors, Report Ihereon. The Trustees are responsible for the other information contained within the Annual ReFK)rt. Our opinion on the financial statements does not cover the other information and, except lo the exlenl otherwise explicitly slated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial slalements or our knowledge obtained in the course of the audit. or otherwise appears lo materially misslaled. If we identify such material inconsistencies or apparent material misslatemenls, we are required lo determine whether this gives rise to a material misslatemenl in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misslatemenl of this other information, we are required lo report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial slalements are prepared is consistent with the financial slalemenls., and the Trustees, ReFK)rt has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowleclge and understanding of the charitable company and rts environment obtained In the ourse of the audit. we have not identified material misstatements in the Trustees, ReporL We have nothing lo report in respect of the folk)wing matters in relation to which Companies Act 2006 requires us lo report lo you if. In our opinion". the parent charitsble company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been reiVed from branches not visited by us", or the parent charitable company financial statements are not in agreement with the accounting records and retums., or certain disclosures of Trustees, remunerabon specrfied by law are not made," or we have not received all the Information and explanations we require for our audit., or the Trustees were not entitled lo prepare the financial slalements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the Trustees. Report and from the requirement to prepare a Strategic Report. Page g
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS ICONTINUEDI Responsibilities of trustees As explained more fully in the Trustees, Responsibilities Statement, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparab.on of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparab'on of financial statements that are free from material misslatemenl, whether due lo fraud or error. In preparing the financial slalements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to conb'nue as a going concern, disclosing. as applicable. mallers related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or lo cease operations, or have no realistic allernalive bul lo do so. P4e 10
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS ICONTINUEDI Auditors. responsibilitigs for the audit of the financial statements Our objectives are to obtain reasonable assuran atrx)ul whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslalemenl when il exists. Misslalements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably expected to influence the economic decisions of users taken on the basis of these financial slatemenls. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, lo detect material misslalements in respect of irregularities, including fraud. The exlenl to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected lo have a material impact on the financial slatemenls. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may cur in the entity. The following laws and regulations were identified as teing of significance lo the entity.. Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporb.ng standards, Company Law and Charity Law. Those laws and regulations for which non-compliance may be fundamental lo the operating aspects of the business and therefore may have a material effect on the financial statements. Audit predureS undertaken in response lo the FX)tential risks relating to Irregularities (which inclLJde fraud and non-compliance with laws and regulalionsl comprised of". enqLJiries of management and those charged with governan as to whether the entity complies with such laws and regulab"ons.' enquiries with the same concerning any actual or potential Iib"galion or claims.. Inspecbon of relevant legal correspondence and the performance of analytical review lo Identify unexpected movements In account balanS which may be Indicative of fraud. No Instances of material non-compliance were identrfied However. the likelihood of delecb.ng IrregLJlarilies, inclLJding fraud, is limited by the inherent difficLJIty In detecting irrularl11eS, the effectiveness of the entity's controls, and the nature. timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherenUy more difficult lo detect than irrularItIeS that result from error. As explained atove. there Is an unavoidable risk that material misstatements may not be detected. even though the audit has been planned and performed In accordan with ISAS IUKI. A further description of our responsibilrties for the audit of the financial statements is lOted on the Financial Reporting Council's website at.. www frc or uklaudilorsres onsibililies. This des¢ripb"on forms part of our Auditors, Report. P4e 11
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS ICONTINUEDI Use of our report This report is made solely lo the charitable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's Iruslees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has tEen undertaken so that we might state to the charitable company's members those mallers we are required to state to them in an Auditors, ReFM)rt and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. Charlotte Willmore BFP ACA (Senior Statutory Auditor) for and on behalf of WJknfyLbd Wilder Coe Ltd Chartered Accountants & Statutory Auditors 1 sl Floor Sackville HoLJse 143-149 Fenchurch Street London EC3M 6BL 9 February 2024 Dale.. P4e 12
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 Note INCOME FROM.. Donations, legacies and grants 727,437 727,437 262 242 TOTAL INCOME 727.437 727.437 262,242 EXPENDITURE ON: Raising funds Charitable actsvilies 185,995 315.535 185,995 315.535 157,638 138, 752 TOTAL EXPENDITURE 501,530 501,530 296,390 NET MOVEMENT IN FUNDS 225,907 225,907 (34. 148) RECONCILIATION OF FUNDS: Total funds brought forward 440.706 440.706 474, 854 TOTAL FUNDS CARRIED FORWARD 666,613 666.613 440 706 The notes on pages 18 10 30 form part of these financial slalements P4e 13
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Total funds 2023 Total fijnds 2022 Note GROSS INCOME IN THE REPORTING PERIOD Less.. Total expenditure 13 13 727.437 1501.530} 262,242 (296,390) NET INCOME FOR THE FINANCIAL YEAR 225.907 (34, 148) The notes on pages 18 to 30 form part of these financial statements. P4e 14
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEIIIG OF ISRAEL'S SOLDIERS IA Company UM1t by Guarants•) REGISTERED NVMBER: 04094203 C014SOUOATED BALANCE SHEEr AS AT 31 IAARCH 2023 2023 2022 FIXED ASSErs Tangible assets CURRENT ASSErs D8btors Cash at bank and in haThl 11 27.875 6W758 22,324 464,942 682.633 487,266 Greditor3: anK)unts fallirvJ I1h1n on8 12 (16.020) (46.560) NEf CURRENT PSSETS 6613 440.706 NET ASSErs 666.613 440.706 CHARtrY FUNDS Unrostrictad fijnds 666.613 440.706 TOTAL FUNDS 66Q613 440.7Q6 The Truste aCkno&jge their restmytsitxlibes for wnpljing with the rwuir&nents of the Act WTih resp8Ct to 8¢countiTrJ reCx)s and &Yeparart of financial statemts. The financ1 statements havg prepar•J In acojrdarts ith the [0¥1&5 applinbk to entities 3ubject to the small LxJmpani8s regimo. 8 February.2024 The financial stslements w8re awo¥&J aTrJ aulhyl5 for issu8 by Ihe Trustees on ...... .. ....... . . and signed on their th8lf ty. P. A Sussmann ffrusteel The notes on Mes 18 to 30 fom part ofthese th9nd statern*. Page 15
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAELE SOLDIERS (A Company Limlted by Guaranto0) REGISTERED NUMBEFi. 04094203 COMPA1 BALANCE SHEET AS AT 31 WCH 2023 2022 FIXED ASSErs Tangible assets Investmants 10 CURRENT ASSETS Debtors Cash at bank arKI in hand 11 27.875 854.758 22.324 464,942 681633 487.266 Creditors". amounts frallirwJ dLE 7Aithin one 12 116.022) {46,562) NET CURRENT ASSETS 664611 440, 704 NET ASSErs 666.613 440,706 CHARrrY FUNDS Unrestricted funds 613 440.706 TOTAL FUNDS 666.613 440, 706 The CompanVs net moverrth in fijnds for th8 £225.7 {2022- £(34. 148)1. The Tnjstees acknovA their resPolbillbeS f(f PIn9 7Mlh the Trquirements of the Act th respect to accounting records and preparation of finanual statements. The finanrAal statements have tren prep in Cld3nCe with the prov1 apF4icable to entities subject lo the small companies regim8. Th9 financial st8tements were apprONl aThJ auknis&d for issu8 by tho TEe3 on.. 8 February 2024 and signed on their behaff ty. P. A Sussmann (Trusleel The notes on pages 18 10 30 forni part ofthese fiw¢ial ststemeTtts. Page 16
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Note CASH FLOWS FROM OPERATING ACTIVITIES Nel cash used in operating activities 15 189,816 (3, 076) CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 189,816 13.076} 468018 Cash and cash equivalents at the beginning of the year 464,942 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 16 654,758 464,942 The notes on pages 18 10 30 form part of these financial statements P4e 17
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 GENERAL INFORMATION UK Friends of the Associab'on for ihe Wellbeing of Israel's Soldiers Icompany number.. 04094203. charity number.. 10842721, having its registered office al 1 sl Floor Sackville House, 143-149 Fenchurch Street, London. EC3M 6BL and its trading address al Unit 7, 56b Cre5 Road, London, NW2 2AD, is a charitable company limited by guarantee incorFM)fdted in England and Wales. ACCOUNTING POLICIES 2.1 Basis of preparation of financial statements The financial statements have been prepared In a¢cordan¢e wlh the Charities SORP IFRS 1021 Accounting and ReForb"ng by Charities.. Slalement of Recommended Practice applicable to charities preparing their aoUnt5 in accordance with the Financial Reporb"ng Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecb.ve 1 January 20191, the Financial Reporb"ng Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006 UK Friends of the Associab"on for the Wellbeing of Israel's Soldiers meets the definrtion of a public benefit enlily under FRS 102. Assets and liabilities are Inib"ally recognised al historical cost or lransacb.on value unless otherwise slated In the relevant accounb.ng policy. The Consolidated Slalement of Financial Activities ISOFAI and Consolidated Balance Sheet consolidate the financial statements of the company and Ils subsidiary undertaking The results of the subsidiary are consolidated on a line by line basis. The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented ils own Slalement of Financial Actwilies in these financial statements. The SOFA of the company shows a nel surplus of £225,90712022.' £34, 148 deficit). 2.2 Company status The company Is a company limited by guarant. the members of the company are the Trustees named on page 1. In the event of the company being wound up. the liability in respect of the guarantee is limited lo £10 per member of the company. 2.3 Fund accounting General funds are unrestricted funds whh are available for use al the discretion of the Trustees in furtheran of the general objectives of the group and which have not teen designated for other purposes. P4e 18
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES ICONTINUEL)) 2.4 Income All income is recconised once the company has enlitlemenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, enlillement is taken as the earfier of the date on which either.. the company is aware that probate has been grdnted. the eslale has been finalised and nolificalion has been made by the execulorlsl to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in parl. is only considered probable when the amount can measured reliably and the company has been notified of the executor's intention lo make a dislribulion. Where legacies have been notified to the company, or the company is aware of the granting of probate. and the criteria for income recognition have not been mel. then the legacy is Irealed as a conlingenl assets and disclosed if material. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenant is reccMJnised al the time of the donation. 2.5 Expenditure Expenditure is recognised once there is a legal or conslruclNe obligation lo transfer economic benefit lo a ihird party, il is probable that a transfer of economic benefits will be required in selllement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each acb'vity. Direct costs allributable lo a single activity are allocated direcuy lo that aclivily. Shared costs which contribute to more than one activity and support costs which are not altribulable to a single activity are apportion betrNeen those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in supwrt of the charitable activities. Supwrt costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with adminislralion of the company and compliance with constilulional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relab'ng lo the governance of the company apportioned lo charitable activities. 2.6 Tangible fixed assets and depreciation All assets costing more than £100 are capitalised. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model. tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should included in the measurement of cost. P4e 19
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES ICONTINUEL)) 2.6 Tangible fixed assets and depreciation (continued} Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the slraight-line method. Depreciation is provided on the following basis.. Fixtures and fittings 259/0 Straighl-line 2.7 Investments Investments in subsidiaries are Valu at cost less provision for impairment. 2.8 Deferred taxation Full provision is made for deferred tax assets and liabilities arising from all timing differences betrNeen the recognition of gains and losses in the financial statements and recognition in the la compulalion. A nel deferred lax asset is recognised only if il can Èe regarded as more likely than not that there will be suitable taxable surpluses from which the future reversal of the underlying timing differences can be deducted. Deferr tax assets and liabilities are calculated al the lax rates expected to be effective al the lime the timing differences are expected to reverse. 2.9 Operating leases Rentals paid under operating leases are charged to the Consolidated Slalement of Financial Activities on a slraight-line basis over the lease term. 2.10 Foreign currencies The company's functional and presenlalional currency is British Pound Sterling IGBPI. Monetary assets and liabilib'es denominated in foreign currencies are translated into sterling at rates of exchange ruling al the Balance Sheet dale. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Consolidated Statement of Financial Aclivff(ies. 2.11 Interest receivable Interest on funds held on dewsil is included when receivable and the amount can measur reliably by the Group", this is normally upon notification of the interest paid or payable by the Bank. 2.12 Debtors Trade and other debtors are recognised al the selllemenl amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. P4e 20
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES ICONTINUEL)) 2.13 Cash at bank and in hand Cash al bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.14 Creditors and provisions Liabilities are recognised when there is an obligation al the Balance Sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in selllement, and the amount of the selllement can be estimated reliably. Liabilities are recognised at the amount that the Company anlicipales it will pay to sellle the debt or the amount il has received as advanced payments for the goods or services il must provide. 2.15 Financial instruments The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequenuy measured at their selllement value with the exception of bank loans which are subsequently measured al amorlised cost using the effective interest method. 2.16 Taxation The Company is considered to pass the lesls sel out in Paragraph 1 Schedule 6 of the Finan Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempl from taxation in respect of income or pital gains received within categories covered by Chapter 3 Parl 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. P4e 21
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 STAFF COSTS Group 2023 Group 2Q22 Company 2023 Company 2022 Wages and salaries Contribution lo defined contribution FEnsion schemes 38,750 32. 714 38,750 32,714 920 8Q3 920 803 39,670 33,517 39,670 33.517 The average number of persons employed by the Company during the year was as follows.. Group 2023 Group 2022 Company 2023 Company 2022 Trustees Adminislralion No empk)yee reiVed remuneration amounting lo more than £60,000 in either year. During the year, key management personnel received consuancY fees of £69.531 12022. £50. 7891. During the year, no Trustees received any remuneration, benefits in kind or reimbursement of expenses 12022. £Nil). AUDITORS. REMUNERATION 2023 2022 Fees payable to the Companys auditor for the audit of the company and group's annual accounts Fees payable lo the company's audrtor and ils associates in respect of". The auditing of accounts of associates of the company Accountancy and payroll ServIS 6.693 6, 693 2.880 7,979 2, 880 6.912 P4e 22
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 INCOME FROM DONATIONS, LEGACIES AND GRANTS Unrestricted funds 2023 Total funds 2023 Total funds 2022 Donations 727,437 727.437 262,242 In 2022, all amounts were unrestricted. ANALYSIS OF EXPENDITURE ON FUNDRAISING ACTIVITIES Fundraising activities 2023 Total funds 2023 Total funds 2022 Production costs 5,706 21,655 14,757 46.354 47,910 49,613 5.706 21,655 14,757 46,354 47,910 49,613 27,011 Fundraising platform f$ & database costs Advertising Consultancy Supwrtcosts (note 71 Governan costs (note 71 11 183 33, 859 4Q,621 44,964 185.995 185,995 157, 638 In 2022, all amounts were unrestricted. P4e 23
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS Support costs 2023 Governance costs 2023 Total funds 2023 Audrtors, remunerab.on Accountancy Legal and professional General office expenses Hotels and travel Bank Charges Credit card charges Insurance Foreign exchange Salaries. wages and associated costs 9,573 7,979 927 11.299 9,573 7,979 927 22.598 13,520 1.312 1.445 499 11,299 13.520 1,312 1,445 499 19,835 19,835 39.670 47,910 49.613 97.523 Support Governance costs costs 2022 2022 Totsl funds 2022 Audrtors, remunerab.on Accountancy Legal and professional General office expenses Hotels and travel 9,573 6,912 927 9,573 6.912 927 21.587 8,974 1,652 1.376 474 10,793 8,974 1,652 1,376 474 10.794 Bank charges Credit card charges Insurance Foreign exchange Salaries, wages and associated costs 593 593 16,759 1 6,758 33.517 40,621 44 964 85.585 In 2022, all amounts were unrestricted. P4e 24
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted funds 2023 Total funds 2023 Total funds 2022 Charitable activities 315,535 315.535 138, 752 In 2022, all amounts were unrestricted. SUMMARY BY EXPENDITURE TYPE 2023 2022 Donations lo The LIBI Fund The Association for the Wellteing of Israeli Soldiers 274.670 17,688 23,177 1IQ,202 11,620 16.930 Donations In respect of IMPACT scholarships Consultancy fees 315,535 138, 752 P4e 25
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 TANGIBLE FIXED ASSETS Group Fixtures and fittings Cost Al 1 April 2022 and 31 March 2023 6,980 Depreciation Al 1 April 2022 and 31 March 2023 6.980 Net book value Al 31 March 2023 At 31 March 2022 Company Fixtures and rittings Cost Al 1 April 2022 and 31 March 2023 6.980 Depreciation Al 1 April 2022 and 31 March 2023 6,980 Net book value Al 31 March 2023 At 31 March 2022 P4e 26
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. FIXED ASSET INVESTMENTS Valuation The unquoted investment represents a 1000/, holding in UK AWIS Trading Limf(ed, a company registered in the Unrted Kingdom. whose principal activity is lo support fundraising for Ils parent company through ils trading acb"vities The aggregate of the capital and reserves of the company as at 31 March 2023 was £212022." £21 The company reported Income in the year ended 31 March 2023 of £Nil (2022. £NilJ and made a profit of £Nil 12022." £NIl). The company reFK)rted expendilLJre in the year ended 31 March 2023 of£3.33712022.. n,5671. Shares in group undertakings Company Cost or valuation Al 1 April 2022 Al 31 March 2023 PRINCIPAL SUBSIDIARIES The following was a subsidiary undertaking of the Company". Name Company number Registered office or principal Holding place of business UK AWIS Trading Limited 04201043 1 sl Floor Sackville House, 143- 149 Fenchurch Street, London, EC3M 6BL 1000 Included in consolidation Yes The financk21 results of the subsidiary for the year were". Name Income Expenditure Net assets UK AWIS Trading Limited 3,567 13,5671 P4e 27
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11. DEBTORS Group 2023 Group 2Q22 Company 2023 Company 2022 Due within one year Prepayments Tax recoverable 2,625 25,250 4,620 IT,7Q4 2,625 25,250 4, 620 17,704 27,875 22 324 27,875 22 324 12. CREDITORS: Amounts falling due within one year Group 2023 Group 2022 Company 2023 Company 2022 Trade creditors 31,939 757 124 31,039 757 3463 Other laxab.on and swial security Other creditors 59 59 3,339 12,624 Accruals and deferred income 15,961 14,640 11,303 16,020 46,560 16,022 46,562 13. SUMMARY OF FUNDS SUMMARY OF FUNDS- CURRENT YEAR As restated balance at 1 April 2021 Balance at 31 Expenditure March 2023 Income General funds 440,706 727,437 1501,5301 666,613 The ndS retained at the end of the financial year reflects amounts received and earmarked for projects which had been identified bul not yel commenced. SUMMARY OF FUNDS- PRIOR YEAR Balan al 31 March 2022 Balance al l April 2021 Income Expendku General funds 474.854 262,242 (296.390) 440, 706 P4e 28
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestricted funds 2023 Total funds 2023 Current assets Creditors due within one year 682.633 116.0201 682.633 116.020} Total 666.613 666,613 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unrestriled funds 2022 Total funds 2022 Current assets 487.266 (46, 560) 487,266 (46, 560) Creditors due wrthin one year Total 440. 706 440. 706 RECONCILIATION OF MOVEMENT IN FUNDS TO CASH FLOW FROM OPERATING 15. ACTPIITIES Group Group As restated 2022 2023 Nel incomelexpenditure for the year las per Statement of Financial Activities) 225,907 (34, 148) Adjustments for: Ilncreaseldecrease in debtors (Decreay1ncrea$e in creditors 15.5511 130,5401 1,337 29, 735 Net eash provided byllused inl opèrating aetivities 189,816 (3. 076) P4e 29
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. ANALYSIS OF CASH AND CASH EQUIVALENTS Group 2023 Group 2022 Cash in hand 654,758 464 942 Total cash and cash equivalents 654,758 464,942 17. ANALYSIS OF CHANGES IN NET DEBT At 1 April 2022 At 31 March 2023 Cash flows Cash at bank and in hand 464.942 189,816 654.758 464.942 189,816 654,758 18. OPERATING LEASE COMMITMENTS Al 31 March 2023 the Group and the Company had commitments to make future Minimum lease payments under non-cancellable operating leases as follows". Group 2023 Group 2022 Company 2023 Company 2022 Not later than 1 year 13,800 13,800 19. RELATED PARTY TRANSACTIONS The charity has a close rplalionship with The LIBI Fund The Association for the Wellbeing of Israeli Soldiers, a charity registered and operab.ng In Israel During the year to 31 March 2023 the company sent lo The LIBI Fund The Association for the INellbeing of Israeli Soldiers donab.ons amounting lo Q74.67012022.. £110.2021 There were no terms and conditions alla¢hed to these amounts other than they must be used for the charitable purpose for which they were donated. 20. ULTIMATE CONTROLLING PARTY As at 31 March 2023 and 31 March 2022, there was no single ultimate controlling party of the charity. P4e 30