YOUTH ALIYAH- CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND Report And Financial Statements For the Year Ended 31 March 2022
YOUTH ALIYAH _ CHILD RESCUE SCHOLARSHIP AND MAtNTENANCE FUND INDEX FOR THE YEAR ENDED 31 MARCH 2022 CONTENTS Charity inforniation Trustee's Report Auditor's Report Statement of Financial Activities Balance sheet io Notes to the Accounts
YOtrrH ALIYAH - CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND CHARrrY tNFORMATION COorate Trustee Youth Aliyah- Child Rescue (a company limited by guardntee) The Directors of which are '_ Mrs B S Curtis A D Curtis Esq P Diamond B Leaver Esq D J Polden Esq (Resigned 15 June 2021) Mrs L D M Robinson M F Robinson Esq (Chainnan} Mis A J Shiclds H Soning Esq S M Strauss Esq A J Taylor Esq PTtncipal Address 235 Regents Park Road London N3 3LF Charity Number 1087468 Bankers HSBC 69 Pall Mall London, SWIY SEY Auditors Goldwin5 Lllnit¢d Chartered Accountants and Registered Auditors 75 Maygrove Road Londo NW6 2EG Solicitors Martin Patsner CBE Payne Hicks Beach l O New Square Lincoln's Inn London WC2A 3QG
YOUTH ALIYAH - CHILD RESCUE SCHOLARSHIP AND MAtKrENANCE FUND TRUSTEE'S REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Truste¢ presents ils Report together with the Audited Accounts of the Charity for the year ¢nded 3 l March 2022. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Instrument The Chftrity is an unincorporatcd association governed by a Charity CommkS5ion Scheme adopted on 31 May 2001. Trustee5 The coOrate Tntstee is Youth Aliyah - Child Rescue, a Company Limited by guarantee under Company nuniber 3845916 and Charity number 1077913. The directors and trustees of Youih Aliyah- Child Rescue are named on Page l. OBJECTS AND ACTIVITIES Principal Activity Youth Aliyah - Child Rescue Scliolarship and Maintenance Fund Rs effeclively a subsidiary of Youth Aliyah - Child Rescue and thc sole activity of the Charity is to manage the Scholarship endowment funds and to utili5e the income arising therefrom to provide scholarshtp lo students in the Youth Aliyah Villages in Isra¢l. Review of Activities Youth Aliyah Child Rescue Scholarship and Maintenance Fund is responsible for disbui'sing grants to individual children in the villages in the lorni of scholarships. committee meets once a year and receives recommendations from the Directors of the Villages. Many of the scholarships given have specifLed criteria, and the Committee tries lo match these with the most needy children. The Children then receive a srnalL Stipend for the
YOUTH ALIYAH _ CHILD RESCUE SCHOLARSHIP AND MAwfENANCE FUND STATEMENT OF RESPONSIBILITIES OF THE TRUSTEE FOR THE YEAR ENDED 31 MARCH 2022 STATEMENT OF RESPONSIBLITIES OF THE TRUSTEE The trustee is responsible for preparing the trustee's annual report and th¢ financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pr2Ctice). Charlty law requires the Iruslee lo prepare financial ststements for each financial yeai. which give a true and fair view of the slate of affairs of the charity and of the incomin(F resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial slatements, the trustee is required io.. Select 8Ultable accounting policies and then apply them consistently Observe the methods and principles in the ChitIeS SORP Make judgements and estirnates that are reasonable and prudent State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject lo any material departures disclosed and explained in the financial statements Prepare the financial statemenls on the going concem basis unless li is inappropriate to presume thai the charity will continue in operation The tNstee is responsible for keeping proper accounting records that disclose with reasonable accuTaCy at any tirne the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. It Is also responsible foi saleguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustee is Iesponsible for the maintenance and integrity of the COorate and financial infomiation included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
YOUTH ALIYAH _ CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND STATEMENT OF RESPONSIBILITIES OF THE TRUSTEE Continued FOR THE YEAR ENDED 31 MARCH 2022 Statement as to disclosure to our audltors In so far as thc trustee is aware.. There is no relevant audit infonnation of which the charity's auditors are unaware. and The ¢wstee has taken all steps that it ought to have taken to make itself awarc of any relevant audit infomiaiion and to establish that the auditors are aware of that inforniation. Auditors Goldwins Limited have expressed their willingness to continue in office as Auditors. resolution proposing their re-appoinlment will be submitted at the Annual GeneraI Meeting. The trustee's annual report has been approved by the tntstee on ..... and signed on ils behalf by. M Robinson Esq- (Chairman)
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF YOUTH ALIYAH- CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND Opinion We have audited the financial statements of Youth Aliyah - Child Rescue Scholarship and Maintenance Fund (the 'Charity') for the year ended 31 March 2022 which comprise the Staiement of Financial Activities, the Balance Sheet and notes to the ftnancial statements, including a summary of signiflcant accounting policies. The financial reporting framework that has bccn applied in their preparation is applicabl¢ law and United Kingdom Accounting Siandards. including Financial Reporting Standard 102.. The Financial Reporting Standard applicable iti the UK and Republic of Ireland (unit Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the stste of Charity's affairs as at 31 March 2022 and of the income and expetEd2turc for the year then ded have been properly Prepar in accordance with Untted Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirements of the Charities Aci 2011 Basis for opinion We conducled our audit in accordance wTrih International Standards on Audiling (UK) (ISAS (UK)) and applicable law. Our rcsponsibilities under thos¢ standards are fvrther described in the Auditor's responsibilities for the audit of the finan¢ial statements section of our report. W¢ are independent ol the Charity in accordance with the ethical requiremenls that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirernents. We believe that the audit cvidence 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 trustee's use of the going concern basis of accounting in the preparation of the financial stalements is Appropriate. Based on the work we have perfornled, we have not identified any material uncertainties relaling to events oi. conditions thai, individually or collectively, may cast significant doubt on th¢ Charity's ability to continue as a going concern for a period of at least 12 rnonths from when the financial statements are authortsed for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
INDEPENDENf AUDITOR'S REPORT TO THE TRUSTEE OF YOUTH ALIYAH- CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND (Coiitiiiued) Other information The oiher Énfonnation comprises the infomiaiion tneluded in the annual report, including the trustee's report, other than the financial ststernenls and our auditor's report thereon. The trustee is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise explicitly slated in OUT Teport, we do not expi'ess any fonn of assurance conclusion Ihereon. Our responsibility is to read ihe other inforniation and, in doing so, consider whether the other infomiation is n3aterially inconsistent with the financial statemenis or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we ideniify such material inconsistencies or apparent matcrial misstaiements, we are required to detcrniine whether this gives rise to a material missthtement in the financial statements themselves. If, based on the work we have perfornied, we conclude that there is a material mtsstatement of this other Informatio we are required to rq)ort that fact We have nothing lo report in ihis regard. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in th¢ Trustee's Annual Report. We have nothing to report in re5PCCt of thc followlng matters in relation to whtch the Charities Act 201 I requires us to report to you if, in OUT opinion.. the infomation given in th¢ tru5te¢'s report is inconsistent in any material respect with the financial statements. or sufficient accounting records have not been kept. or the financial slatemenls are not in agreement with ihe accounting records; or we have not rcceiv¢d all the infotmation and explanations we require foT our audit. Responsibilities of the trustee As explained more fully in the trustee's responsibilities stalement, the trustee is 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 it detennines is necessary to enable the preparation of financial statements that al'e free from material misslalement, whether due to fraud or error.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF YOUTH ALIYAH- CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND (Continued) In preparing the financial statements, the trustee is responsible for assessing the Charity's ability io continuc as a going concern, disclosing. as applicable, matleis Ielated to going concem and using the going concem basis of accounting unless the trustee either intend to liquidate thc Charity oi. to cease operations, oi have no realistic alternative but to do so. Auditor's responsibiliti for the audit of the fJnanei21 ststements We have been appointed as auditor under the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain aSOnable assurance about whether the financial statements as a whole are free frorn material misslatement, wheilier due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantec that an audit conducted in accordance wtth ISAS (UK) will always detect a material misststement when it exists. Misslatemenls can arise from fraud or eJTor and are considered material Èf, 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. [egUlartLe8, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstaternenls Èn respecl of irregularities, includÈng fraud. The extent to which our procedures are cap8ble of detecting irregularities, including fraud is detailed below-. W¢ enquired about management, which included obtaining and reviewing supporting dottvmentation, conceining the charity's policies and procedui'es relating to.. o identifying, evaluating. and complying with laws and regulations and whether they were aware of any Ènsiances of non-compliance Detecting and responding Co the risks of fraud and whether they have knowledge of any actual, suspected. or alleged fraud The internal controls established to mitigate risks related lo fraud or non- compliance with laws and regulations We inspected the ininute5 Of meetings of those charged with governance. We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations thai had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience We reviewed the fInancial statement diselosures and tested these to supporting documentalion to assess compliance with applicable laws and regulations We peTfonned analytical pi'ocedures to identify any Unusl1 or unexpeci relalionships that may indicate risks of material misslatemeni due to fraud In addressing the risk of fraud through managemen( override of eontrols. we tested the appropriateness of joumal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and lesled significant transaction5 that are UTIU5ual or Ihose outside the nornal course of business
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF YOUTH ALIYAH- CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND (Continued) Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading to a material misstateinent the Fue1a1 5taternents 01 non-compliance with regulation. The risk is also greater regarding Iegularl[leS occuiiing du¢ to fraud rather than error. as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation. A further description of our responsibllilies foT the audit of the financial statement5 is located on the Financial Reporting Council's website at.. [www.frc.org.uk/auditorsresponsibilities]. This dc5cription fornis part of our auditor's report. Use of our report This report is made solely to the Charity's trustee, as a body, in accordance with sectton 144 of the Charities Act 2011 and the regulations made under section 154 of the Act. Our audit work has been undertaken so that we might stale to the Charity's trustee those matters we are required to state to them in an auditor's report and for no other purpose. To the full¢st extent perniitted by law, we do not accept or assume responsibility to anyone oiher than the Charity and the Charity's trustee as a body, for Qui. audit work, for this report, or for the opinions we have formed. 14 DÈcÈmbÈr 2022 Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG Goldwins Limited 15 cligible for appointment as auditor of the charity by virtue of its eligibilily for appointEnent a5 auditor of a company under section 1212 of the Companies Act 2006.
YOUTH ALIYAH - CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Note Income from.. Investrnenls 33.116 28.425 Expenditure on: Raising funds (6,743) (4,706) Charitable Activities (50,000) (25.000) (23,627) (1.281) Transfer from Youth Aliyah_ Child Rescue Transfer from Children and Youth Aliyah Committee for Great Britain and Eire NET INCOMEI(EXPENDITURE) (23,627) (1,281) Inveslmenl Gains / (Losses) 18,356 55,119 NET MOVEMENT IN FUNDS (5.271) 53,838 Funds Brought Fonvard 815,059 761,221 Funds Carried Fonvard £809,788 £815,059 The attached notes forni part of the financial statements.
YOUTH ALIYAH - CHILD RESCUE SCHOLARSHtP AND MATENANCE FUND BALANCE SHEET AS AT 31 MARCH 2022 NOTE 2022 2021 FIXED ASSETS Investments 863,786 800,772 CURRENT ASSETS Cash at bank 21.002 39,287 CREDITORS: amounts falling due within one year (75,000) (25.000) NET CURREr(r ASSETS (53,998) 14.287 NET ASSETS £809,788 £815,059 FUNDS Endowment Funds £809,788 £815,059 £809,788 £815,059 Approved by the Co4)orate Trustee on ZD22 and sign n it behalf by M Robinson Esq {ChairmAn) A Taylor (Hon Treasurer) The attached notes fom] part of the financial stalements. io
YourH ALtYAH - CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES a) Basis of preparation of accounts The financial statements have been prepared in accordance with Accounting and Reporting by Charites.. Statement of Recommended Practice applicable to charities pr¢paring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective l January 2015)- (Charities SORP FRS 102). The charity meets the definition of a public benefit enlity under FRS 102. Assets and Liabilities are initially recognised al historical cost or transaction value unIess othenvise slated in the relevant accounting policy or note. b) Ineomt bkVCStment income is credited to income on a received b&sis. Pernnent endowments are dealt with through the Statemeni of Financial Activiltes when received. c) Investments Investments are stated in the Balance Sheet at market value. The statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
YOUTH ALIYAH - CHILD RESCUE SCHOLARSHIP AND MAtNTENANCE FUND NOTES TO THE ACCOUNTS Continued FOR THE YEAR ENDED 31 MARCH 2022 Total 2022 Total 2021 CHARIT ABLE ACTIVITIES Grants to Israel.. Scholarships 50,000 25,000 INVESTMENTS Market Value as at l April 2021 Additions Disposals Realised & Unrealised Gains l (Losses) 800,772 73,113 (28,455) 18,356 748,767 28,416 {31,530} 55,119 Market Value al 31 March 2022 £863,786 £800,772 Investments may by analysed as follows :_ Cash Investment funds and bonds Equities 29.090 302,643 532,053 6,134 239,567 555,071 £863,786 £800.772 12
YOUFH ALIYAH _ CHILD RESCUE SCHOLARSHIP AND MAINTENANCE FUND NOTES TO THE AccoifNTS Continued FOR THE YEAR ENDED 31 MARCH 2022 TRUSTEE'S REMUNERATION AND EXPENSES No remuneration wa5 paid to the trnstee in the yeai-. not were any expenses reimbursed to it. CONNECTED CHARITY The charity is a subsidiary of Youih Aliyah - Child Rescue, a Company Limited by guarantee, which is registered in England and operates within the United Kingdom. The principal place of business of Youth Aliyah- Child Rescue is 235 Regents Park Road, London, N3 3LF. The Childi'en and Youth Aliyah Committee for Great Brilain and Eire is a fellow subsidiary of the charity Youth Aliyah- Child Rescue. 13