Charity registration number 1100736
BRITISH SUPPORTERS OF EFRAT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
BRITISH SUPPORTERS OF EFRAT
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr L Stern Mr A J Neuwirth Mrs S Silkin (Appointed 30 May 2022) Charity number 1100736 Principal address 49-51 Broughton Lane Manchester M8 9UE Independent examiner Berish Hoffman FCA Landau Morley LLP 325-327 Oldfield Lane North Middlesex UB6 0FX
BRITISH SUPPORTERS OF EFRAT
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 8 |
BRITISH SUPPORTERS OF EFRAT
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2022
The trustees present their annual report and financial statements for the year ended 5 April 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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).
Objectives and activities
The making of grants to an Israeli charity offering help, advice and financial aid to pregnant women considering abortion.
The charity continued to raise funds to enable it to make grants to Efrat in Israel, a charity with similar objectives.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
During the year the charity paid grants totalling £67,500 (2021: £42,600) to Efrat in Israel.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
At the year end the charity held free reserves totalling £8,705 (2021: £31,285).
Structure, governance and management
The charity is governed by a Trust Deed dated 21st June 2003.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr L Stern
Mr A J Neuwirth Mr N Salamon (Resigned 1 June 2022) Mr C Goldschmidt (Resigned 1 June 2022) Mrs S Silkin (Appointed 30 May 2022)
The Trust Deed provides for a minimum of three trustees. Were there a requirement for new trustees, these would be identified and appointed by the remaining trustees.
The trustees' report was approved by the Board of Trustees.
Mr A J Neuwirth Trustee
16 January 2023
- 1 -
BRITISH SUPPORTERS OF EFRAT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BRITISH SUPPORTERS OF EFRAT
I report to the trustees on my examination of the financial statements of British Supporters of Efrat (the charity) for the year ended 5 April 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Berish Hoffman FCA
Landau Morley LLP 325-327 Oldfield Lane North Middlesex UB6 0FX
Dated: 16 January 2023
- 2 -
BRITISH SUPPORTERS OF EFRAT
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2022
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | 3 | 52,030 | 74,713 |
| Other income | 4 | - | 2,634 |
| Total income | 52,030 | 77,347 | |
| Expenditure on: | |||
| Charitable activities | 5 | 74,610 | 51,481 |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (22,580) | 25,866 | |
| Fund balances at 6 April 2021 | 31,285 | 5,419 | |
| Fund balances at 5 April 2022 | 8,705 | 31,285 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 3 -
BRITISH SUPPORTERS OF EFRAT
BALANCE SHEET
AS AT 5 APRIL 2022
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Income funds Unrestricted funds |
2022 £ 10,505 (1,800) |
£ 8,705 8,705 8,705 |
2021 £ 33,085 (1,800) |
£ 31,285 |
|---|---|---|---|---|
| 31,285 | ||||
| 31,285 |
The financial statements were approved by the Trustees on 16 January 2023
Mr A J Neuwirth Trustee
- 4 -
BRITISH SUPPORTERS OF EFRAT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
1 Accounting policies
Charity information
The charity is registered in England and Wales and is unincorporated. The address of the principal office is 49-51 Broughton Lane, Manchester, M8 9UE
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Resources expended
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.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 5 -
BRITISH SUPPORTERS OF EFRAT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 52,030 | 74,713 |
4 Other income
| Total | Unrestricted | |
|---|---|---|
| funds | ||
| 2022 | 2021 | |
| £ | £ | |
| Tax refunds | - | 2,634 |
- 6 -
BRITISH SUPPORTERS OF EFRAT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
5 Charitable activities
| Grant funding of activities (see note 6) Share of support costs (see note 7) Share of governance costs (see note 7) Grants payable Grants to institutions: Efrat, Israel |
2022 £ 67,500 5,310 1,800 74,610 |
2021 £ 42,600 6,871 2,010 |
|---|---|---|
| 51,481 | ||
| 2022 £ 67,500 |
2021 £ 42,600 |
6 Grants payable
7 Support costs
| Support costs Governance costs £ £ Advertising 1,620 - Printing, postage and stationary 2,286 - Bank charges 762 - Office costs 642 - Accountancy fees - 1,800 Legal and other professional fees - - 5,310 1,800 Analysed between Charitable activities 5,310 1,800 |
2022 Support costs Governance costs £ £ £ 1,620 3,930 - 2,286 2,185 - 762 118 - 642 638 - 1,800 - 1,800 - - 210 7,110 6,871 2,010 7,110 6,871 2,010 |
2021 £ 3,930 2,185 118 638 1,800 210 |
|---|---|---|
| 8,881 | ||
| 8,881 |
Governance costs include amounts payable to the Independent Examiner.
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
- 7 -
BRITISH SUPPORTERS OF EFRAT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
9 Creditors: amounts falling due within one year
| 9 | Creditors: amounts falling due within one year | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Accruals and deferred income | 1,800 | 1,800 | |
| 10 | Analysis of net assets between funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fund balances at 5 April 2022 are represented by: | |||
| Current assets/(liabilities) | 8,705 | 31,285 | |
| 8,705 | 31,285 |
11 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
- 8 -