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 2024
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 7 |
| Independent Auditors' Report on the Financial Statements | 8 - 12 |
| Consolidated Statement of Financial Activities | 13 |
| Consolidated Income and Expenditure Account | 14 |
| Consolidated Balance Sheet | 15 |
| Company Balance Sheet | 16 |
| Consolidated Statement of Cash Flows | 17 |
| Notes to the Financial Statements | 18 - 30 |
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Z. C. Remez
P. A. Sussmann
J. E. Swidler
R. J. Kemp
Company registered number
04094203
Charity registered number
1084272
Registered office
1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL
Principal operating office
Unit 7, 56b Crewys Road, London, NW2 2AD
Company secretary
Z. C. Remez
Independent auditors
Wilder Coe Ltd, Chartered Accountants & Statutory Auditors, 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL
Page 1
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees (who are also directors of the charity for the purpose of the Companies Act) present their Annual Report together with the audited financial statements of UK Friends Of The Association For The Wellbeing Of Israel's Soldiers (the company and the group) for the year 1 April 2023 to 31 March 2024. The Annual Report serves the purposes 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 statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the group and the Company qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. POLICIES AND OBJECTIVES
The principal objectives of the charity as set out in the governing documents are:
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The relief of need and suffering of serving and discharged Israeli soldiers and their families;
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The advancement of education of serving and discharged Israeli soldiers; and
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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 charity's aims and objectives include undertaking fundraising activities and events to raise money to be able to donate to Israel through the connected charity The Association for the Wellbeing of Israel's Soldiers in Israel and other approved organisations so that the funds can be spent to meet the above objectives.
c. PUBLIC BENEFIT
The Trustees confirm that they have, in the administration of the charity, paid due regard to the public benefit guidance published by the Charity Commission under section 4 of the Charities Act 2011.
Page 2
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance
a. REVIEW OF ACTIVITIES
In pursuit of the objectives listed above, the charity and its subsidiary undertook the following activities 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 £760,704 ( 2023: £727,437) .
-
The increase in donations in the year to 31 March 2024 was as a result of the following:
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an emergency appeal for funding to support the wellbeing of Israeli soldiers both regular and in particular reservists, mobilised following the heinous attack by Hamas on October 7, 2023.
Donations are made at the full discretion of the trustees of UK Friends of the Association of Israel's Soldiers ("UK Friends of AWIS"), and are given only to support projects that the Trustees deem to be consistent with the objectives of UK Friends of AWIS. The Trustees regularly travel to Israel to ensure that the funds sent from the UK are applied consistently with the charity's objectives. The charity does not undertake projects directly themselves but provides funding for projects being undertaken by other organisations that have been preapproved by the Trustees.
The total level of donations made to other charities to support our pre-approved projects totalled £497,316 ( 2023: £292,358 ).
Example of projects that were funded and the level of funding provided during the current year are:
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Provision of funds - £43,000 - sent to assist the well-being of soldiers in various units as requested. The beneficiaries were primarily lone soldiers and injured soldiers.
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Scholarships - £16,261 - which provides funding for underprivileged former Israeli soldiers to obtain higher education by covering the full cost of tuition at an accredited institution as well as related expenses such as textbooks.
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UK AWIS give through AWIS Israel £88,000 to participate in the funding of a national event specifically for the benefit of young people.
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AWIS-Israel for various welfare projects - £295,297
Some of these projects were specifically undertaken to meet the well-being needs of soldiers many of whom were reservists who were mobilised for the defence of Israel in the war against Hamas after 7 October, 2023. This was the main reason for the significant increase in funds provided to Israel over the previous year. It is also represented a return to more unusual pattern of donations since the previous two years had been reduced as a result of COVID.
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 legal costs. The charity incurred considerable legal costs for support in the enquiries undertaken by the Charity Commission. There will be further associated expenditure incurred in 20242025 account period.
Page 3
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
b. Fundraising activities and income generation
The charity continues to have the ongoing support of a number of regular donors and supporters who donate on an annual basis for the various causes the charity supports.
Towards the end of the 2022, the charity decided to make use of Charity Extra to 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 seen a decline in donations received. Virtual events using a fundraising platform were considered to be an appropriate alternative to raise the charity profile and increase the level of donations.
There were satisfactory 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 donations received directly from Charity Extra in the year was £42,541 ( 2023: £179,089 ) with associated fundraising and payment processing fees of £6,234. It is however noted that additional donations were pledged or paid directly to the charity as a result of these online campaigns.
The trustees made a decision during the year to pay towards the voluntary Fundraising Regulator Levy now that they are more actively fundraising in this way as they understand the importance of following the Code of Fundraising Practice.
Trustees monitor the outcome of all fundraising efforts by reviewing the level of donations received and the costs involved to assess whether this has been effective.
There have historically been no complaints connected to the fundraising efforts of the charity. However, during the year and after the ongoing conflict and the events of 7th October, a complaint has been raised to the Charity Commission in relation to some of the fundraising content and this is currently being investigated by trustees and with the Charity Commission.
On the advice of our legal representatives, the Trustees decided to suspend the transfer of donations to Israel pending the outcome of the enquiries. This resulted in the charity having a much higher level of funds in its bank account than it would normally wish to hold. Following an interim report from the Charity Commission in July 2024 the transfer of funds to Israel donated to UK AWIS by donors has been resumed.
Financial review
Page 4
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
a. RESERVES POLICY
The charity had total funds of £650,207 as at 31 March 2024 ( 2023: £666,613 ). The charity's subsidiary undertaking, UK AWIS Trading Limited had equity shareholders' funds of £2 as at 31 March 2024 ( 2023: £2 ).
Donations received by the charity 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 policy of the charity is to 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, funds have been held back due to the inability of trustees 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 decision 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 until projects move forward. The trustees are making an active effort to distribute excess funds in a timely manner moving forwards.
b. PRINCIPAL FUNDING
The charity is funded through donations received 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, governance and management
a. CONSTITUTION
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 12 October 2000.
The company's charity number is 1084272 and its registered company number is 04094203. The company is registered at the following address:
1st Floor Sackville House 143-149 Fenchurch Street London EC3M 6BL
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the Group and the Company is the responsibility of the Trustees who are elected and coopted under the terms of the Articles of Association.
Trustees are appointed at the discretion of the acting trustees at the Annual General Meeting.
There is no set policy in place for the induction and training of new trustees and this is arranged as required.
Page 5
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management (continued)
c. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The charity holds a 100% shareholding in UK AWIS Trading Limited, whole principal activity is to support 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 served during the year were as follows:
Z. C. Remez P. A. Sussmann J. E. Swidler R. J. Kemp
The company's bankers are National Westminster Bank plc, Chatham Rcsc, Western Avenue, Waterside Court, Chatham Maritime, Chatham, Kent, ME4, 4RT.
The company's auditors are Wilder Coe Ltd, Chartered Accountants & Statutory Auditors, 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL.
d. PAY POLICY FOR SENIOR STAFF
All directors, who are also trustees of the charity, give their time freely and no director received remuneration in the period ( 2023: £Nil ).
e. RELATED PARTY RELATIONSHIPS
The charity has a very close relationship with The Association for the Wellbeing of Israel's Soldiers in Israel, a charity registered and operating in Israel.
A summary of transactions with this party is set out in note 20 to the financial statements.
f. RISK MANAGEMENT
The Trustees have assessed the major risks to which the Group and the Company are exposed, in particular 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 charity's plans for the future are consistent with the objectives identified within this report. The charity will continue to support and fund projects and activities in line with the objectives as the Trustees see fit.
The ongoing hostilities between Israel and Gaza will necessitate further contributions to assist the wounded soldiers and their families as well as lone soldiers who have been serving in the war.
Page 6
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, RESPONSIBILMES STATEMENT The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees. Report and the financial statemenls in accordance wlth applicable law and United Kingdom Accounting Standards (Untted Kingdom Generally AGcepted Accounting Practice). Company law requires the Trustees to prepare financial ststements for each financial year. Und&r company law. the Trustees must not approve the financial statements unless they are satisfied that Ihey give a true and fair V18w of th8 State of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and 8XP8nditure. for that peiiod. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles of the Charitias SORP., make judgments and accounting estimates that are r@asonable and prudent,. and prepare the financial ststements on tha going concem basis unless it Is inappropriate to presume that the charitable Group wlll continue In operabon. The Trustees are responsible for keeping adequate accounts'ng records that are sufficient to show and explain tho Group and Ihe Companvs transactions and disclose wilh r8asonable accuracy at any time the financi81 position of the Group and the Company and enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assèts of th8 Group and th8 Company and hence for taking reasonabl8 Steps for the pravention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDrroRS Each of the persons who are Trustees at th8 time when this Trustees, Report is approved has confirmed th8t.' so far as that Twstee is avmrè, there is no relevant audit infonTtation of which the chantab18 group's auditors are unaware, and that Trustee has taken all the steps that ought to have been tskon as a Trust80 in order to bo aware of any relevanl audit infomiats'on and to establish thal the charTtable group's auditors are aware of that information. ALIDITORS The auditors, Wilder Coe Lld. have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the audltors at a meebng of the Trustees. This report was approved by the Trustees. on .1.5 ' J tkn. and signed on their behalf by.. P. A. Sussmann {Trustee) Page 7
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
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 statements of UK Friends of the Association for the Wellbeing of Israel's Soldiers (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Income and Expenditure Account, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework 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 Practice).
In our opinion the financial statements:
-
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 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 report. We are independent of the Group in accordance with the ethical requirements that are relevant to 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 to 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 concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 8
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to 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:
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the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
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the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
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the parent charitable company financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of Trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the Trustees were not entitled to prepare the financial statements 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 9
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (CONTINUED)
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation 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 to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company'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 Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Page 10
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent 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 to have a material impact on the financial statements. 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 occur in the entity.
The following laws and regulations were identified as being of significance to the entity:
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Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law and Charity Law.
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Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, 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 inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Page 11
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (CONTINUED)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report 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
Wilder Coe Ltd
Chartered Accountants & Statutory Auditors
1st Floor Sackville House
143-149 Fenchurch Street
London EC3M 6BL
Date: 16 January 2025
Page 12
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Note INCOME FROM: Donations, legacies and grants 5 Investments 6 TOTAL INCOME EXPENDITURE ON: Raising funds 7 Charitable activities 9 TOTAL EXPENDITURE NET (EXPENDITURE)/INCOME Transfers between funds NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Restricted funds 2024 £ 48,644 - 48,644 - 49,691 49,691 (1,047) 1,047 - - - |
Unrestricted funds 2024 £ 712,060 2,459 714,519 264,859 465,019 729,878 (15,359) (1,047) (16,406) 666,613 650,207 |
Total funds 2024 £ 760,704 2,459 763,163 264,859 514,710 779,569 (16,406) - (16,406) 666,613 650,207 |
Total funds 2023 £ 727,437 - |
|---|---|---|---|---|
| 727,437 | ||||
| 185,995 315,535 |
||||
| 501,530 | ||||
| 225,907 - |
||||
| 225,907 | ||||
| 440,706 | ||||
| 666,613 |
The notes on pages 18 to 30 form part of these financial statements.
Page 13
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024
| Note GROSS INCOME IN THE REPORTING PERIOD 14 Less: Total expenditure 14 NET INCOME FOR THE FINANCIAL YEAR The notes on pages 18 to 30 form part of these financial statements. |
Total funds 2024 £ 763,163 (779,569) (16,406) |
Total funds 2023 £ 727,437 (501,530) 225,907 |
|---|---|---|
Page 14
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (A Company Limlted by Guarantee) REGISTERED NUMBER: I)4094203 CONSOLIDATED BALANCE SHEET AS AT 31 AIARCH 2024 2024 2023 Note FIXED ASSErs Tangible assets CURRENT ASSETS 10 Debtors Cash at bank and in hand 12 29,963 683,926 27,8T5 654, 758 713,889 682,633 Creditors: amounts falling due within one year 13 163,682) (16,020) NET CURRENT ASSETS 650,207 666,613 NET ASSETS 650,207 666,613 CHARITY FUNDS Unrestrf¢ted funds 650,207 666,613 TOTAL FUNDS 6SO.207 666,613 Th8 Trustoas acknowledge their responsibilities for complying wrth the requirements of the Act with re8pect to accounting records and preparation of financial statements. The fin8ncial statem8nts have been prepared in ardanC* wrth the provisions applicable to entlt16S subject to the small companies ragime. 15/01/2021 The financial statements were approv8d and authorised for Issue bythe Trustees on ............... ...................... 8nd signed on their behaifby: P. A Sussmann (Trustee) The notes on pag8s 18 to 30 fonm part of these financial statements. Page 15
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS (A Company Limited by Guarantee) REGISTERED NUMBER: 04094203 COMPANY BALANCE SHEEr AS AT 31 MARCH 2024 2024 2023 Noto FIXED ASSETS Tangible assets Investments 10 11 CURRENT ASSETS Debtors Cash at bank and in hand 12 29,963 683,926 27.875 654. 758 713.889 682,633 Creditors- amounts falling due within one year 13 (63,684) (16,022) NET CURRENT ASSETS 650.205 666,611 NET ASSETS 650,207 666,613 CHARITY FUNDS Unrestrict8d funds 650,207 666,613 TOTAL FUNDS 650.207 666,613 The Companys net movement in funds for the year was £(16.406) (2023 - £225.907). Th8 Trust8es acknowl8dge their responsibilities for complwng with the requlrements of the Act wlth respect to accounting records and preparation of financial statements. The financial statements have tEen prepare(S in accordance with the provlslons appllcable to entities subject to the small companies regim8. The fi .. Ig/d11{15Y. were approved and authorised for is$u8 by the Trustee8 on and signed on their behaff by. P. A Sussrnann (Trusteel The notes on pages 18 to 30 form part of these financial ststements. Page 16
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024
| Note CASH FLOWS FROM OPERATING ACTIVITIES Net cash used in operating activities 16 CASH FLOWS FROM INVESTING ACTIVITIES Interest received NET CASH PROVIDED BY INVESTING ACTIVITIES CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR Cash and cash equivalents at the beginning of the year CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 17 The notes on pages 18 to 30 form part of these financial statements |
2024 £ 26,709 2,459 2,459 29,168 654,758 683,926 |
2023 £ 189,816 |
|---|---|---|
| - | ||
| - | ||
| 189,816 464,942 |
||
| 654,758 | ||
Page 17
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
UK Friends of the Association for the Wellbeing of Israel's Soldiers (company number: 04094203, charity number: 1084272), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL and its trading address at Unit 7, 56b Crewys Road, London, NW2 2AD, is a charitable company limited by guarantee incorporated in England and Wales.
2. ACCOUNTING POLICIES
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
UK Friends of the Association for the Wellbeing of Israel's Soldiers meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the company and its 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 its own Statement of Financial Activities in these financial statements.
The SOFA of the company shows a net deficit of £16,406 ( 2023: £225,907 ).
2.2 Company status
The Company is a company limited by guarantee. 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 to £10 per member of the company.
2.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the group and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 18
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES (CONTINUED)
2.4 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) 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 part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. 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 met, then the legacy is treated as a contingent assets and disclosed if material.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 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 activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time 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 support of the charitable activities. Support 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 administration of the company and compliance with constitutional 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 relating to the governance of the company apportioned to charitable activities.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
Page 19
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES (CONTINUED)
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 be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Fixtures and fittings
25% straight-line
2.7 Investments
Investments in subsidiaries are valued 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 between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be 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.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
2.9 Operating leases
Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight-line basis over the lease term.
2.10 Foreign currencies
The company's functional and presentational currency is British Pound Sterling (GBP).
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the Balance Sheet date.
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 Activities.
2.11 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the Bank.
Page 20
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES (CONTINUED)
2.12 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.13 Cash at bank and in hand
Cash at 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 at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it 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 subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.16 Taxation
The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 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.
Page 21
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. STAFF COSTS
| Wages and salaries Contribution to defined contribution pension schemes |
Group 2024 £ 38,652 1,265 39,917 |
Group 2023 £ 38,750 920 39,670 |
Company 2024 £ 38,652 1,265 39,917 |
Company 2023 £ 38,750 920 |
|---|---|---|---|---|
| 39,670 |
The average number of persons employed by the Company during the year was as follows:
| Group | Group | Company | Company | |||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |||
| Administration | 1 | 1 | 1 | 1 |
No employee received remuneration amounting to more than £60,000 in either year.
During the year, the charity engaged an overseas consultant who received fees of £52,182 ( 2023: £69,531 ).
During the year, no Trustees received any remuneration, benefits in kind or reimbursement of expenses ( 2023: £Nil ).
4. AUDITORS' REMUNERATION
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's auditor for the audit of the company and | ||
| group's annual accounts | 7,142 | 6,693 |
| Fees payable to the company's auditor and its associates in respect of: | ||
| The auditing of accounts of associates of the company | 2,100 | 2,880 |
| Accountancy and payroll services | 6,935 | 7,979 |
Page 22
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. INCOME FROM DONATIONS, LEGACIES AND GRANTS
| Donations Total 2023 |
Restricted funds 2024 £ 48,644 - |
Unrestricted funds 2024 £ 712,060 727,437 |
Total funds 2024 £ 760,704 727,437 |
Total funds 2023 £ 727,437 |
|---|---|---|---|---|
In 2023, all amounts were unrestricted.
6. INVESTMENT INCOME
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Interest receivable | 2,459 | 2,459 | - |
7. ANALYSIS OF EXPENDITURE ON FUNDRAISING ACTIVITIES
| Production costs Fundraising platform fees & database costs Advertising Consultancy Support costs (note 8) Governance costs (note 8) |
Fundraising activities Unrestricted 2024 £ 31,561 36,270 9,962 34,788 49,222 103,056 264,859 |
Total funds 2024 £ 31,561 36,270 9,962 34,788 49,222 103,056 264,859 |
Total funds 2023 £ 5,706 21,655 14,757 46,354 47,910 49,613 |
|---|---|---|---|
| 185,995 |
In 2023, all amounts were unrestricted.
Page 23
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS
| Auditors' remuneration Accountancy Legal and professional General office expenses Hotels and travel Bank charges Credit card charges Insurance Salaries, wages and associated costs |
Support costs Unrestricted 2024 £ - - - 13,714 11,964 731 2,354 500 19,959 49,222 |
Governance costs Unrestricted 2024 £ 9,242 6,935 53,206 13,714 - - - - 19,959 103,056 |
Total funds 2024 £ 9,242 6,935 53,206 27,428 11,964 731 2,354 500 39,918 |
|---|---|---|---|
| 152,278 |
| Auditors' remuneration Accountancy Legal and professional General office expenses Hotels and travel Bank charges Credit card charges Insurance Foreign exchange Salaries, wages and associated costs |
Support costs 2023 £ - - - 11,299 13,520 1,312 1,445 499 - 19,835 47,910 |
Governance costs 2023 £ 9,573 7,979 927 11,299 - - - - - 19,835 49,613 |
Total funds 2023 £ 9,573 7,979 927 22,598 13,520 1,312 1,445 499 - 39,670 |
|---|---|---|---|
| 97,523 |
In 2023, all amounts were unrestricted.
Page 24
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
| Charitable activities TOTAL 2023 In 2023 all amounts were unrestricted. |
Restricted funds 2024 £ 49,691 - |
Unrestricted funds 2024 £ 465,019 315,535 |
Total funds 2024 £ 514,710 315,535 |
Total funds 2023 £ 315,535 |
|---|---|---|---|---|
. SUMMARY BY EXPENDITURE TYPE
| Donations to The Association for the Wellbeing of Israeli Soldiers Donations in respect of IMPACT scholarships Donations to other organisations Consultancy fees |
2024 £ 468,625 16,261 12,430 17,394 514,710 |
2023 £ 274,670 17,688 - 23,177 |
|---|---|---|
| 315,535 |
Page 25
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 10. TANGIBLE FIXED ASSETS Group Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 and 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 Company Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 and 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Fixtures and fittings £ 6,980 6,980 - - Fixtures and fittings £ 6,980 6,980 - - |
|---|---|
Page 26
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
11. FIXED ASSET INVESTMENTS
Valuation
The unquoted investment represents a 100% holding in UK AWIS Trading Limited, a company registered in the United Kingdom, whose principal activity is to support fundraising for its parent company through its trading activities. The aggregate of the capital and reserves of the company as at 31 March 2024 was £2 ( 2023: £2 ). The company reported income in the year ended 31 March 2024 of £2,592 (2023: £3,337) and made a profit of £Nil ( 2023: £Nil ). The company reported expenditure in the year ended 31 March 2023 of £2,592 ( 2023: £3,337 ).
| Company Cost or valuation At 1 April 2023 At 31 March 2024 |
Shares in group undertakings £ 2 2 |
|---|---|
. PRINCIPAL SUBSIDIARIES
The following was a subsidiary undertaking of the Company:
| Name | Company | Registered office or principal | Holding |
|---|---|---|---|
| number | place of business | ||
| UK AWIS Trading Limited | 04201043 | 1st Floor Sackville House, 143- | 100% |
| 149 Fenchurch Street, London, | |||
| EC3M 6BL | |||
| Included in | |||
| consolidation |
Yes
The financial results of the subsidiary for the year were:
| Name | Income | Expenditure | Net assets |
|---|---|---|---|
| £ | £ | £ | |
| UK AWIS Trading Limited | 2,592 | (2,592) | 2 |
Page 27
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
12. DEBTORS
| Due within one year Prepayments Tax recoverable |
Group 2024 £ - 29,963 29,963 |
Group 2023 £ 2,625 25,250 27,875 |
Company 2024 £ - 29,963 29,963 |
Company 2023 £ 2,625 25,250 27,875 |
|---|---|---|---|---|
13. CREDITORS: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
Group 2024 £ 48 - 22,903 40,731 63,682 |
Group 2023 £ - 59 - 15,961 16,020 |
Company 2024 £ 48 - 25,473 38,163 63,684 |
Company 2023 £ - 59 3,339 12,624 |
|---|---|---|---|---|
| 16,022 |
14. SUMMARY OF FUNDS
SUMMARY OF FUNDS - CURRENT YEAR
| General funds Restricted funds |
Balance at 1 April 2023 £ 666,613 - 666,613 |
Income £ 714,519 48,644 763,163 |
Expenditure £ (729,878) (49,691) (779,569) |
Transfers in/out £ Balance at 31 March 2024 £ (1,047) 650,207 1,047 - - 650,207 |
|---|---|---|---|---|
The funds retained at the end of the financial year reflects amounts received and earmarked for projects which had been identified but not yet commenced.
SUMMARY OF FUNDS - PRIOR YEAR
| Balance at | ||||
|---|---|---|---|---|
| Balance at | 31 March | |||
| 1 April 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | 440,706 | 727,437 | (501,530) | 666,613 |
Page 28
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD
| Current assets Creditors due within one year Total ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 713,889 (63,682) 650,207 Unrestricted funds 2023 £ 682,633 (16,020) 666,613 |
Total funds 2024 £ 713,889 (63,682) 650,207 Total funds 2023 £ 682,633 (16,020) 666,613 |
|---|---|---|
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 16. ACTIVITIES
| Net income/expenditure for the period (as per Statement of Financial Activities) Adjustments for: Interest received (Increase) in debtors Increase/(decrease) in creditors Net cash provided by operating activities |
Group 2024 £ (16,406) (2,459) (2,086) 47,660 26,709 |
Group 2023 £ 225,907 - (5,551) (30,540) 189,816 |
|---|---|---|
Page 29
UK FRIENDS OF THE ASSOCIATION FOR THE WELLBEING OF ISRAEL'S SOLDIERS
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
17. ANALYSIS OF CASH AND CASH EQUIVALENTS
| Cash in hand Total cash and cash equivalents |
Group 2024 £ 683,926 683,926 |
Group 2023 £ 654,758 |
|---|---|---|
| 654,758 |
18. ANALYSIS OF CHANGES IN NET DEBT
| Cash at bank and in hand | At 1 April 2023 £ 654,758 654,758 |
Cash flows £ 29,168 29,168 |
At 31 March 2024 £ 683,926 |
|---|---|---|---|
| 683,926 |
19. OPERATING LEASE COMMITMENTS
At 31 March 2024 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| Group | Group | Company | Company | ||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Not later than | 1 | year | 9,504 | - | 9,504 | - |
20. RELATED PARTY TRANSACTIONS
The charity has a close relationship with The Association for the Wellbeing of Israeli Soldiers, a charity registered and operating in Israel.
During the year to 31 March 2024 the company sent to The Association for the Wellbeing of Israeli Soldiers donations amounting to £468,625 ( 2023: £274,670 ).
There were no terms and conditions attached to these amounts other than they must be used for the charitable purpose for which they were donated.
21. ULTIMATE CONTROLLING PARTY
As at 31 March 2024 and 31 March 2023, there was no single ultimate controlling party of the charity.
Page 30