Ch•rlty reglstratlon numljer 11t14484 Company roglstratlon numbw 05070736 {England and Wales) THE HELPING FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE HELPING FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trusl•o• D Neuwlrth 8 Stone A Weis R Wgis S Wels S•cr•tary B Stone Charlty numb•r 1104484 Company numb•f 05070736 R•gl•tsrnd offlc• 59 Klngs Road Pwstwlch Mancheslor M25 OLQ Audltor Loplan Gross Bamell & Co 1st Floor, Cloister Houge RSver8lde N8w Ballèy Street Manch8ster M3 5FS Bank•r• 8arclays B8nk 25 Cheetham Hill Road Manchester M4 4FL
THE HELPING FOUNDATION CONTENTS Pago Trustees, report Statement of Tru818e8' responsibllities Independent auditoV8 r8POrt Statement of flnanclal aclivlUe8 8818nce she81 10 Statement ol cash flows 11 Notes to tho financial statements 12-20
THE HELPING FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Th8 Truste&s present thelr annu81 report and finandal slalernents for the year ended 31 D8cemb8r 2023. The financial sts18menls have been pr8par8d in accordance with th8 accounting pollcies set out in note 1 to the financial slalements and comply with th8 charity's MemoT8ndum and Articles of Assoaalion. the Companies Act 2006 and "Accountsng 8nd Reportbng by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and R8public of Ir8land IFRS 1021 leffe¢Nve 1 January 20191" Alms, obJ•ctlvos and actlvltlo• The charity's aims and objectives are the advancem&nt of education according to the tenet5 of the Orthodox J&wlsh Faith,. Ihe advancement of the Orthodox J6wish Religion and the relief of poverty among81 the elderfy or persons in need, hardship or distress in the Jewlsh Community. The Trustees measure the Success of achlevlng the slated aims by the number and value of grants pald oul for each objecllve. The charlty revlews 118 aims, obleclives and actIvi8$ each year. The revlew lookg at what thè chadty aGhieved and the outcomes of its Work In the previous 12 months. The reviow looks ot the success of the key aclivi118s and the benefll8 the charity has brr>ughl lo those gTOUPS ol p80ple 11 has set out lo help, Thg T8vlew 8190 helps the charlly en8ure It5 airns. obl8cllves and activllles rnaIn focusad on ils slated purposes. The Trustees have ref8rred lo th8 Charily Comm156ions general guidance on th8 public benenl when reviewlng the the charlly's alrns and objectives and in plannlng futura actlvlUes. In p8cUlar, the Trustees consider how planned acllvllies wlll contribute lo the aims and oblecliv88 they have sel. Gr•nt maklng pollcy The Charlty is funded by donations and investment income. The chorfty Pays c4Jl grants in line with th• above objects. There were no grants pald to indivldu819 during the year. The charity h89 e$t8blished its grant maklng policy lo achSeve Its oblecls lor the publlc benefit. The ch8rlty invllèg applications lor lunding lo conlribule toward5 prolecls that tho trustees feel are appropriate for the charllvs objecllves. The appllcalion of thg fvnd5 by way of grants 18 to elther InStutIOnS or individuals and is alrnost aAyS to InsllbJlion8. The Tru81ees consider they have m8t tha publlc benefll le81 and outyine these achievement8 b810w. The Trustees me8surg the success of 8chSeving the slated aims by the number and v8lu¢ of grants paid out for each oblecl. The granis paid out in th8 year are detailed in the notgs to the accounts and the Trustees consider they hav8 mel Ih81r aims successlully this year. The Trustees consld8r the shorter term airns lo be simllar to tha long8r temi aim5 and assess the achieMent of the charity in the Same way. strat89l¢ rgport The description under the headings 'Achievemenls and perfomiance. and 'Financial revie meet the company law requirements for the Trustees to present a strategic report. Achiev•monis and perfom)ance During the year Lhe charity receiveil £nil12022.' £nill of gifted investment properties that were retained to produce fulure incom8.
THE HELPING FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The charlty also recorded inveslment Income recelvable during the year amounting to £23,339.002 12022.. £21.097,970). The chadly utllis9s all available surpluses for r8inveslrnent in suitable propety inv88tmenls. Tha charity rec8ived £2,504,83712022'. £4.700I In gift aid donations duThg th8 year. The chartty also incufred costs includlng ground rents. Insurance premiums, legal and professional le85 etc amounting lo £1,685,929 12022.. £2,432,257) as well as interost payable amountsng lo £2.004.569 12022.. £1,305.7231. The charity pald out £15.132,650 12022.. £13,807,741) by way of chadlable donations and £78.510 12022 £53,739) in SLlPPOrt and govemance costs. These grants and dir8ct activities were rnade in line the stated oblects of the ch8ri1y and are for 8ducalional. relief of poverty or communal Purposes. All charil8ble donations were made lo inslilullons in lh& year. The following rnalerial donations were made by the charity with the remalnder of the charitable donations available on request from the charity's head office., A W Charitable Trust £I0.Om and Lehachzikom £1.6m. The donalions made were towards the advancement of education according lo the tsnets ol the Orthodox Jewish F811h', the advancen7enl of the Orthodox Jewlsh Religion and the relief of poverty amongst the elderfy or persons in need. h8rdshlp or dlslress in the Jewish Community. a5 Staled In the ch8rftYs oblecllvgs. The charity Incurred govemance cosls comprising professional fees. Most office costs are borne by a local benaf8ctor and the Tru8tee$ wlsh to record thelr appreciallon lo the benefactor for the free u3e of th6lr offlces. Durlng the year, lotal loan Tèpaymenls of £26.404,525 were made. Further loan repaymanls of approxlmalely £253,050 are due lo be made in the next 12 months. Durlng tha year the charlty dlsp08ed of nll12022.. 11 Inve8lm8nt property. The Trusleas revalu8d the investment properties ol the charity dun9 the yèar for lair value purposes. Th18 resulted in 8 downwards revaluallon of £18,636,13912022.' upward revaluallon £1,528.5821. There ware no material fundra151ng costs durlng the year. There was an over811 nel decrease In funds for the year amounting to £11,693,95812022'. Increase £5,031,792). The invèstments of the ch8rlty have performed reasonably well in the year. The Trnslees consider Ihls accèptable when comparetj with returns av3118ble on deposiis In any of the banking instilulions. These property investment returns are not 8t the expense of any exposure of108n Its value coven8nls that would put these investrnents at risk. FlnJn¢lal r•vlew Th9 Trustee5 feel the year was anoth8r excellent one in lem8 of donations, Investrnenl income receivable and gains made by the charity. The Truslaes are delighted ID hav8 made many valuable contributions to other 8ri1ie$ and the local community and hope to be able lo do so for many years to come. The unreslrfctod fund5 represent funds arising from past operating results since the charily's comrnencemonl. 11 is the pollcy of the charity thBI unfeslricled funds whith have not been designated for a specific use should be maintslned al a suit8ble leve1 that enables them lo manage the the investments of the charfjty whilst maintaining appropri8te grant p3ymonl leve15 and not wmpromising the cash flow of the charity. The reserves will in addition be for loan paY)entS over the no¥1 e1ve months. The cash reseN8s are lo be use(1 for the purpose of both charitable donations and for the fulure Investment of the charity.
THE HELPING FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The T85erves $18nd at £402.354.591 all of whlth are unraslrlcled with non8 of these funcjs ¢ommitled to any expenses other than slalgd abov8. The company holds various propety investments within the Unk8d Kingdom. The Trustees fe81 that the investments have perf¢)rmed well in th8 year and have generated the charity suffiuenl returns lo maintain the level of donations in has made in line with its 0th'eCVeS. The company 15 well placed to take advantage of any polenlial Gapilal gro within its property portfolio. The Trustees have assess8d the malor rfsks lo whlth the charity is exposed, in partcular those related lo th& operalions and linances of the Tru51. These iisks include macro economic factofs governing the whole economy that could expose tenants and thereby pul the valug of the investment properties al risk with tho associated knock on effect with lenders covenanl8. Additionally. the charity may be exposed lo interest rate increases with referenc8 lo loans ond their repayment. The charity fetains an appropriate level of cash reserve to provide flexlbilily in man89ing finanee r18k of 118 POrtfolS0. Other risks fac8d by the Trust Include opeTalion81 risks from ineffectsve grant maklng. These rlsks are managed by the TfU81ee8 rese8h1n9 potential beneffaaries before granting donations. Report back and revlew procedures slrenglhen these saleguards to ensure public benefll is achieved from all granls paid oul. The Trustees 8r8 salisfled Ihgt systems are in place to manage the exposure to Ihe above malor risks. The TTuslees plan lo continue donating and investing to raise lunds for prolects In Ilne wblh the Memorandum & Articles of Assoc1811on 8nd pursue those objecliveg and projects wllh 811 the resources availabl8 to the charity. Structur•i gov•rn•nu Jnd manag•m•nt Th8 charity 15 a company limited by guarantee, which was incorporalod on 11 March 2004 and reglstered as a ch8rfty on 22 June 2004, The charlly's company number Is 05070736 and It5 chadty number is 1104484. The company was establlshe¢J under a Memorandum ol As8oclaUon which 8Stablighod the objgcls and powers of the ch3rftabl• company and Is govemed under Its Artlcles ol Associ8tlon. In the event of the company belng wound up members are required to conlribul8 an amount not exceeding £10. The Trustees, who are 81so the dlrectors for the purpose of company law, and who served durlng the year and up lo the date of slgnalure of the linanci81 statements were.. D Neuwirth 8 Stone AWei¥ R Weis S Wei8 Appolnlmenl of other Trustees is at the discrglion of the exisllng TNstees and the need for Iralning will be assessed al such time when a new appointment is to be rnade. The day lo day affairs of the charity are undertaken by Mr 8. Stone on behalf of the trustee8.
THE HELPING FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORn ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Audltor In ac¢ordanc8 wth the company's artlcles. a resdution proposlng th•1 LoFian Gro89 Barnett & Co be roappointed as audilor of the compary will be put al o General Meellng. Olsclo*ur8 gf Inlormation to audltor Each of th• TrusteÈa has eonfim)ed thal there is no infomiabon of which they 8Te oware whlch 18 relevant to the audlt, but of which th¥ 8uEIrt(K 19 unAware. They have further c0nflrM Ihal they have tak¥n appropriate step$ to IdenJfy sueh relevant in1Mation and to estab115h that Ihe auditor18 aware of such Inlomiallon. The Tru8te•s' r•por( InclLhYlng tha 8tr¥teglc rfjport and director¥ report, wa$ •pproved by the BoDrd of Tru•leo8. D Neulrth Truslee Dated
THE HELPING FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Truste88, who are a180 the directors (rf The Halping Foundatlon for the purpos8 of company IBW, are responsible for pr8paring the Trustees. Report and the flnancial statements in accor(18nce with applbcable law and United Klngdom AGcounling Standards (Unrted .gdoM Generally Acc8pt8d Accounllng Practice). Company Law rnquires the Tfuslees to prep financial slalements for each financlal ygar which give a tru8 and fair wew of the slate of affairs of the ChatY and of the incoming resources and application of resources, including the inGomg and expenditure. of the tharitable company for that year. In preparing these financial stalemènls, the Trustees are reqijired lo-. select suitable accounting policies and then apply them conslslgnlly.. - observe the methods and prinpIeS in the Chadlies SORP,, make judgements and estimates that are masonable and prudent., stale whelher appllcable UK Accounting Stsndards have bggn followed. subjeGt to 8ny malerSal departures dlsdosed and explained in the financial 5tatements', and prepa the finanaal slalements on the going concem basls unless It 1$ inapproprlale to pr88umg that the charlty will continue in operation. The Trustees are r&sponslble for keeplng ad8qU8te 8ccovnfjng r8UJTds that dl8cloBe wllh r8ason8ble accuracy al 8ny time the financlal position of the charity and enable them to ensure that Ihe nnancial st8temenis comply with the Companie$ Act 2006. They are also re8pon8lble lor $8fegtJarding Ihe asseis of the tharity and hence for taklng r&a80nabla sl8ps for the prevention and delecllon of fraud and othar irregularities.
THE HELPING FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HELPING FOUNDATION Oplnlon We have audited Ihe financi81 ststemènts of The Helplng Foundation (the 'charitable company'l for the year ended 31 December 2023 whlch comprise the statement of financial aclivilies, the balance sheet, the stst&menl of cash flows and the notes lo the fin8nci81 slal8menls, including a summary of Significant accounting policies. The financi81 reporting framework that has been applied in Iheir preparation is applicak)18 law and United Kingdom Accounting standards, including Financial Reporting Standard 102 The Finoncial Reporting Standard appliG8bl8 in Ihg UK and Republic of Ireland (United Kingdom Genorally Accepted Accounting Practice). In our opinion. the financlal slalemenls.. give a true and lair view of the stale of the charitable cornp8ny's affairs as at 31 December 2023 and of ils incoming resources and application of resources, for the yeaT then ended.. have been properfy prepared in accordance wilh United .ngdCffl Generally Accepted AcGounllng Pr8clice', and have bean pr9par8d In accordance wSlh the requlremenls of tho Compan188 Act 2006. Bas1• lor oplnlo We conducted our audlt in accordance wllh Inlernatsonal Stsndards on Audlling IUKI IISAS IUKII and applicable law. Our T8sponslbillUes under Ihosa standards are further described in the Auditorts r8sponslbililies for th8 8udit ol the financi81 slal8mgntS s8cb.on of OUT report. We are independent of the chart18ble company in accordance with the ethical requlremenls that are relevant lo our audll of th8 flnanclal statements in th8 UK, including the FRC'S Ethical Standard, and we have futfilled our other ethical responsibilitie5 in accordance wllh thes8 requirements. W8 believe that the audit evidence we have obtained 15 sufficl8nl and appropriate to provlde a basis for our opinion. Con¢lu*lons rnlatSng to golng concern In auditing the financial slalornents, we have concluded that the Trustees, use of the going concem basls of accounting in the prepar8tion of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or ondibons that, indlvldually or colle¢lSvely, may cast significant doubt on the charity's ability lo continue as a goinG concern for a period of 8t least twelve months from when th& financial stotements 8re aulhorised for issue, Our responsibllilies and the responsibilitles of the Tru8tees respoct to golng concem are dgsGribed in the relevant sections of Ihls report. Oth•r Informatlon The Trustees are r85ponslblo for the other information. The other infonnalion comprises the Information included in the annual report, other than the flnancl81 statements and our audiloT'S report thereon. Our oplnlon on the financl81 slalemants does not cover the olh¥r information and except to the ext&nt othe1$8 expllcllly slated In our report, we do not express any form ol 88surance conclusion thereon. In connection wlh our audll of the Ilnancial slalgmenls, our responsibility is lo read the other information and, In doing SD, consider whether the other infomiation is rnalerially inconslst8nt with the financi81 statements or tsur knowl¥dge obiained in the audit or olh8rwise appe8rs to be materially misstated. If we Identify such material incongist8ncies or app8nt m8t8ri81 misstatements, we are required to dotermine whether Iherg is a materi81 m15sl8lement in the Tinanclal slalemenls or a material misstatement of the other inforrnalion. 11, bas8d on the worl( we hav8 performed. we conclude that therg is a material misstatement of this other InformalSon. we are required lo report that fact. W8 have nothing to report in this r8gariJ.
THE HELPING FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE HELPING FOUNDATION Oplnions on other rnatters prescribed by the Cornpanles Act 2006 In Jr oplnlon, based on Ihg work undertaken in the course of our 8udit.' the information giv8n in the ITUSte8's report. which Includes the directors. report and the slraleglc report prepared for thè purposes of company law, for the financial year for which the financial statements are prepared Is consistent with the fin8ncial 51alefflents', and the strategic report and the directors, report induded within the trustees. report have been prepared in accordance wlth applica8 lagal requirements. Matt•r• on whlch w• •r• requlred to report by exceptlon We have nolhing lo report in respecl of tho following mallers in relation to which th8 Companieg Act 2006 Tequire u8 to report lo you if. in our opinion: the Informgllon glven In the financlal slalements 13 inconsl$tent In any materi81 resped wllh the Trustees, report., or Sufflcienl accounllng rocord8 have not been kept., or the lin8nci81 stBt8men15 are not In agreement wlth the accounting r8cords', or we have nol received all th& information and explanations we require for our audit. R•oponslbllltle• of Tru$t••s As explained more fully in the statement of Trustees, responsibilities. Ihg Tru¥tees, who are also the dlrectors of the harity for the purpose of company law, are rgsponslbl6 for the proparation of th8 financial statements and being satisfied that they give a true and laif view. and for such Inlemal control as the Tru51ees delemiine is necessary to enable the praparalion of financlal sialemgnts that ar8 free from material misstatement, whether due to fraud or error. In preparing the financial stalemenls, the Trustees are responsible for a55esslng the charlly'6 abllily to continue as a going concem. disclosing. as applicable, matters related to going concern and using the going concem basis of accounting unless the Tfustees either Intend lo liquld8le the charitable company or to ceas¢ oper8llons. or hove no realisllc allernallve but to do so. AudltoV• r•spon•lbllltle• for th• audlt of th• fin•n¢l•l st•t•m•nts Our oblectlves are to obloin reasonable assurance about whether the financial statements as a whole are free from material misslalemont, whether due to fraud or error, and to Issue an auditor's report that includes our oplnion. Reasonable 8S8urance is a high level of assurance bul Is not a gugrantee that an audll conductod in accordance with ISAS IUKI wi11 alway$ delecl a m8terial mlsslalement when 11 exists. Misslatemenls can arlse from fraud or emr and are con8idgr8d malerial if, Indlvidually or In the aggr8gate. they could reasonably be expected lo InfluenG the economSc decl8lon8 of us8rs taken on thg basis of these flnanci81 statements.
THE HELPING FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE HELPING FOUNDATION Irregularities. indudbng fraud, are instanc88 of non-compllance wrth law5 and rogulauons. W6 design procedures in ine wrth our responsibilllies, lo detect rnalerfal mlsglalemenls in respect of irTegularili8s, induding frBud. The exienl to which our proc8dures are capabl8 of d8tecling irregularities. induding fraud. is detailed below.. We obtained an understanding of laws and règulations th81 affect the entity. focusing on thoso that had a direct eff8cI on the financial sl3tements or that had a fundamental effect on its operations. Where considerad necessary we onquired of those charged with govemance, r8viewed correspondence and reviewed meeting minutes for evidence of non-complianc8 with relevant laws and regUlatIt5. We gained an understanding of Ihe controls gnvlronment whlch Includes the controls in place lo prevenl and detect fraud. Wo enquired of those charged with governance about any incidance5 of fraud that had taken place during the accounting period. The risk of fraud and non-compllance with laws and regulations was di8CU55ed wlthin the audit team and tests were anned and performed to address these risks. Vve reviewed financial slalaments disclosuros lo assess compliance With relevant laws and regulallons. We enqulred of those charged with govern8nce about actual and potentlal litsgallon and cl8ims. We performed analytical procedures lo idenllfy any unusual or ungxpgcted relationship¥ that mlgttt indic819 risks of material misstalemenl due lo fr8ud. In addresslng the rfsk of fraud dug lo man8g8menl override of Internal controls we leslgd the OPPToprlaleness of journal enlrles and assessed whether tho judggments made in making accounting esb'mates were Indlcalive of a potentlal b188. Due lo the inherent limitations of 8n audit, Ih8r8 is an unavoidable dsk that we may nol have delecl8d some materlal mlsstalements in the flnanclal sl818ments, even though we have properly planned and performed our 8udll In occordance with audlllng stand8rds. For example, as any audit, there r8mained a higher rlsk of non-deleclion of irregularits6s, 88 thes8 may involve collusion, forgery, intentional omissions. misr8presenlBtlons, or the overfde of intemal conlrolB, We are not responslble lor pravanting fraud or non-compllance wlth laws and regulalion8 and cannot be exp8Cted to delect 811 fraud and non-compllance wlth laws and r8gulalons. A further descrlpllon of our r8sponsibiliti88 18 avallable on the Financial Reportlng Council'8 webslte at.. hltPB'.11 www.frc.ory.uklaudilorsre6ponsibililios. This descrIpOn fomig part of our audllorfs r8F4)rt. Use of our rnport This report Is made ¥olely lo the charftable companys members, a8 a body, in accordance with Chapter 3 of P8rt 16 ol the Companles Act 2006. Our audit work has been undertaken so that we might stsle to charrtable company's members those matters we are required to slate lo them in an 8udilors' report and lor no other purpo88. To the fullest exlenl pemiitled by law, we do not accept or assume responsSbility to anyone other than the ch8ritsble compantys members as a body, for our avdil work, for this report, or for the opinions we h8ve formed, Jason Sollg BA ACA CTA DChA {Senior Ststutory Audltorl for and on beholf of Loplan Gross Barngtt & ¢0 30 S&ptember 2024 Charterod Accountants statutory Audltor 1st Floor, Cluister House Riverside New Bailey Street Manchèster M3 5FS
THE HELPING FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unr•strlcted Unr•strfctsd fund$ funds 2023 2022 Not•8 Incom• from: Donations and legaci8s Investrnents 2.504,837 4.700 23,339,002 21.097,970 T¢ytal In¢om• 25,843.839 21,102,670 Ex endlture on: Property holding costs 3,690,498 3,737,980 Charltable actlvlUes 15,211,160 13.861,480 Total r•sources exp•nd•d 18.901.658 17,599,460 G8inslllo8sesl on investments 11 118,636,139) 1,528,582 Net {•xp•ndltur•lllncome for th• y••rl Not movem•nt In fund• 111,693,958> 5,031.792 Fund balance5 8t 1 January 2023 414,048,549 409,016,757 Fund b•lanG•• at 31 D•c•mb•r 2023 402.354,591 414,048.549 The stalemenl of flnandal 8ctlvltl8s Includes all galn8 and losses recognised In the year. All income 8nd expenditure derfve from continuing Bctivlues. The sl8tement of flnanclal athitles a150 complles wlth the requlrements for an Sncome and expendllure account under the Companle8 Acl 2006.
THE HELPING FOUNDAT.ION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Nots8 Flxod a8¥0ts Investment properties 13 401,373,097 419,904,558 Curront tsets Debl¢i$ Cash at bank and in hand 14 2.814,428 16.209,031 1.972,615 36,374,910 18,823.457 38,347,525 Crnditorn: •rnounts falllng du• *thIn on• y•ar 111,104,507) 111,714,553) Nel current ass818 7,718,950 26,832,972 Totsl ••uts IM• ¢ufr•nl Ilabllitle• 409,092,fA7 448,537,530 C111¢r$. amounts falllng duo •ft•r mor• than on• y••r 17 18,737,45ei 132,48B,9811 4Q2,354,591 414,048,549 Incom• fund• Unraslricled lunds 402,354.591 414,048,$49 402,354,591 414,048,S49 The Inandal statements weriak¥)rovad by the Truslees on 30 So¢8Mber2024 D Neuwirth Tru•t Comp4ny Roglstr•tlon No. 05070736 10-
THE HELPING FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notss Cash flows from op•ratlng adlvltlgs Cash absorfoed by operations 20 117.691,882) 115,644,078> Investlng actmtles Purchas8 of investmenl property Proceeds on disposal of Investment property Repayment of investment loans and receivables Interest and rent recelved from Inv88tmant8 1104.6781 12,914,692) 90.323 34,739 23,339,002 139 21,097,970 N•t cash gon•r•t•d from Inv•stlng actlvltlos 23.269,063 18,273,740 Flnanclng actlvltles Repayment of bank loans 126,404,525) 13,563.5501 N•t cJ$h u8•d In flnanclng actlvltS•• 126,404,525) 13,563,550) N•t d•cr•a•• In u¥h and ca•h •qulval•nt• 120,827,344) 1933,8881 Cash and cash equlvalents al beglnnlng of year 36,374,910 37.308,798 C••h and c••h •qulval•nt• at •nd of y••r 15,547,566 36,374,910 R•l•tlng to: Cagh al bank and In hand Bank ¢verdrafts indudèd in credltors payable thIn one year 16,209.031 36,374,910 1661.4651
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countlng pollcl•• Charlty Informatlon The Helping Foundatlon18 8 public ben8frt entity and a prlv8t8 company1Smitad by guarantee, incorporated in England and Wal8s and 8 registered charity in England & Walès. The regi51èr8d oifice is S9 Kings Road, PreSiCh. Manthesler. M25 OLQ. 1.1 AecountSng ¢onv•ntlon The flnancial ststemenls have been prepared in accordance with the charity's Memorandum 8nd Articles, Ihg Companies Act 2006 and "Accounting and R6porting by Charities,, Slalement of Recommended Practice applicable to charities preparing thelr accounts In accordance wilh tha Financial Reportlng Standard appllcable in th8 UK and Republi¢ ol Ireland IFRS 102118ffeclive l January 20191.. The charity is a Public Benefit Entlty 88 defined by FRS 102. The financial stateménts are prepared in sterling. whlch Is the functional currency of Ihe charlty. Monelary amounts in these financial slalements are rounded lo the nearest £. The financial slalements have bgen prepared under the hislorfcal cost convenlon, modlfied lo include the revaluallon of investment properti8s al fair value. The principal accounting polldes adopted are set out below. 1.2 Golng ¢oncem At the lime of approving the financial statements, the Trustees have a reasonable expectation that tha charlty has adequate resources to continue in operational 8XlStence for the foreseeable future. Thus the Trustees continue to adopt the going eoncem basis of accounting in preparing the fingncial stalemenl8. 1.3 Charltabl• lunds Unrestricted funds are available lor u88 al the d1screti of the Trustees in furtherance of their charitable obAeclive8. 1.4 Income Income is recognlsed when the chartly Is legally entltl8d to118fter Bny perfomance condillon5 have been met, the am¢wnls can be mèasured reliably, and il is probable that income will be received. Cash donations are recogni58¢J on ceIpt, Other donab'ons are recogni58d once the charity has bean notified of th¢ donation, unless perfomance contjitions require d8lerral of the amount. Income lax r8coverable In relaOn lo donations recelved under Glft Aid or deeds of coven8nl is racognised al the time of the donallon. Leg8cles afe r8cogni8ed on recelpl or olherwl$e if the chadty has been notlfied of an impendlng dlslrlbullon, the amount is known, and recelpl is expected. If the amount is not known, the legacy Is treated 88 8 conlingenl asset. Invèstment income represents amounis receivable IOT rent81s and seNces nel of VAT. The rental income is r8cognis8d on the commencement ol 8 lease, adjusting for any ffjnl free periods. 1.5 Expondltur• Expenditur8 Is recognisgd on an accruals basls as a Ilability is inGwrred. Expenditure includes any VAT vthich cannot be ftjlly recovered, and is classified under headings of the st8tement of fin8nclal aclivlties to which 11 relates. Expenditure on charitabl8 activities indudes all costs incurred by the charity in undertaking aclivilie5 that further ils charitable aims for the benefit of its beneficiaries, induding those support costs and costs relallng to the governance of the charity apportioned to charitsble activites. 12-
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles (Continued) 1.6 InveBtm•nt property Inveslmenl property, which Is property held lo eam rentals andlor for capital appreciation, 1$ initially recognised 81 cost. whith includes the purchase cost and any directly atlribul8ble expenditure. Subsequently It Is measuretj 8t lair value al the reporbng end date. The surplus or deficlt on revaluation 1$ recognised in income and oxpenditure. 1.7 Cash •nd cash •qulv•lents Cash an¢J cash equivalents indud8 cash in hand, deposits held al call with banks, other short-lerm liquid investments with original malurilies of throe months or le58, and bank overdrafts. Bank overdrafts are shown within borrowings in current Ilabililies. 1.8 Flnanclal Instrument8 The charity has elected to apply th8 provisions of Secticn 11 '8asic Flnancial In5trumenls' and S8clion 12 'Other Fln8nclal Inslruments Issues. of FRS 102 to all of ils finan¢ial inslrurnenls. Finandal instruments aro recognised in the charity's balance sheet vthen the chanly becomes party to the contractual provisions of the Instrument. Flnancial assets and liobilities are offset. with the nel amc)unls presented in the financiBI statements, when there Is a18g8lly enforceable right lo set off the recogni8ed 8mounts and there 18 an intenllon to sellle on 8 net basis or lo re81isg the asset and settle the liability slmullaneously. Bjslc flnanclal •J*•ts Basic financial a8sets, which include deblors and cash and bonk bAlanc68, are Inlllally measurod al transaction price Including Iransacllon cost8 and are subsequently carrled al amortised cost uslng the effective Interest method unl88S the arrangement Gonstilul8s a financing transaction, where the Iransactlon 18 measured al the present valu8 ol the lulure raceipls dlscounled al a market rale of Interest. Flnancl8188s81$ cla5slfled as receivable within one year are nol amortised, B•¥l¢ Ilnanclal Il•bllltles Basic financial liabilitses, including cr8dilor5 and bank108ns are inlllally recognised 8t trans8ctr.on price unless the arrangement conslllules a financing trans8Ction, where Ihe debt in$lrumgnl is measured al the presenl value ol the future payments discounted al a market rat8 ol Inleresl. Financial liabililies dassifi'ed as payable wlthin one year are not am0'Se. Debt instruments are subsequently carried at amortlsed eo8t, uslng the effedlve inter8st ral8 meihod. Trade creditors are obligatsons lo pay for goods or services thal have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities il payment is due within one year or less. If not, Ihey are presented as non-currenl liabilities. Trade creditors are recognised initially al Iransaction price and subsequenuy measured at amortised cost using the effective inlerest melhod. Derecognltlon of fln•ncial Ilabllltl•s Financial liabilities are derKognised when the charity's contractu81 obligations expire or are discharged Ix cancelled. 1.9 Employee beneflts The cost of any unused holiday enlbllemenl is recognised In the period in which the employee's serwces are receoved. Terrninalion bengfrts are recognised imm8diately as an expense when the charity Is demonstrably commitlad to terminot8 th8 employment of an employee or to provide lerminalion benefits. 13-
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crltleal accountlng •stlmates and ludg•m•nts In the appllc81ion ol the charfty's accounting polici8s, the Trustees are required to make judgements. esllmalas and assumptions about the carrwng amount of assets and Ilabilities that are not readlly apparent from other sour¢8s. The ests'mates and assodaled assumptions are based on historical exp8rience and other factors that ar8 considered to be r81evant. Actual results may diffgr trom these aslimales. The e5tlmale8 and underIng assumptions are rèviÈw8d on an ongolng b8sis. Rev15ions lo accounllng ests'mates are recognised in th8 p8riod in which the 8sts.male is revised where the revlslon affects only Ihat period, Of in the poriod of th8 r8Vl8ion ond thJtur8 pellod8 ere Ihe rgvisSon affects both current and future periods. The propgrty valuations are considered a material esllmale and are dealt wlth In rnOTe detsll In note 13. Don•tlon• and 18gacl•• Unrè•trfct•d Unro¥trlct•d fund• funds 2023 2022 Glft aided donollon8 2,504,837 4,700 Inv•qtm•nt• Unre•trlct•d Unr••trlct•d funds funds 2023 2022 Rental Income Interest recgiV8ble 22,133.865 20,788,116 1,205,137 309.854 23,339.002 21,097.970 14-
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Exp•ndlture on charltabl• 8ctlvltlo8 UnreBtrlctod Unr•8trfct•d funds funds 2023 2022 Dlrect cost• Charitable grants to in81itulions 15.132.6SO 13,807,741 Share ¢1 support •nd govern8nc• colts (#•• not• Bl Support Govemance 41.399 37,111 17,113 36,626 15,211,160 13.861.480 An•ly•ls by lund Unreslrlcleij funds 15,211,160 13,861.480 A lurther £26,404,525 was repaid on loan5. Thes8 loans helped malntaSn the Investment Prtsperty Portfollo whlch in lum lacllllales charitable ootivlues. Durfng thè yèar the charfty also madg additlons lo Its Investmgnl Prop8ty of £80.459 which wll enable Ihe ch8rtly lo pursuo Ils acllvSUes fvrthgr. Prop•rty holdlng Go¥t• Unrn8trlct•d Unr•*trl¢t•d fvnds fund• 2023 2022 Ground renls, Insurance premium8, legal and professional fees Interest payable 1,685,929 2,432,257 2.004,569 1,30S,723 3,690,498 3,737,980 Net movemont In funds 2023 2022 The nel movement in funds is staled after charg1ngl1cd1IIng1- Fees payable lo the charity's auditor: for the audit of the charity3 financial statements - for other financial services 36.000 1,111 35,000 1,626 15-
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs Support Govem•n¢e costs costs 2023 Support Governanco costs 2022 Support costs 41,399 41.399 17,113 17,113 Audit fees Accoun18ncy 36,OC() 1.111 36,000 35,000 1,626 35,OOD 1,626 41,399 37,111 78,510 17.113 36,626 53,739 Analysed betr488n Charltablg activlues 41,399 37,111 78,510 17,113 36.626 53.739 Nono of the Trust888 lor any persons connected with them) receiv8d any remun8rall¢)n or bonefils frorn the charity durlng the year. No exponse8 were paidlrelmbursed lo Ihe Trusleos by thè Chanty in the year. 10 Employ••• The average monthty number of em0Yea8 durin9 the year was.. 2023 Nvrnb•r 2022 Numbor Tot81 There We no employees whose annual remunerallon w88 more than £60,000. 11 Net galn•l(10•••31 on Investments Unre8trl¢t•d Unr6*trbcted funds funds 2023 2022 Rev¥luotion of investment propee$ 118,636.1391 1,528.582 12 Toxatlon The ch8rfty Is exempt from tax on Incomo and gains falling within section 505 of the T8xes Act 1988 or Section 252 of tho Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo its charitsble otyeds. 16-
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Inv•stment prop•ty 2023 Falr valu• Al 1 January 2023 Additions through acqulsillons and glfts Net gabns or losses through falr value 8djustmants Other changes 419,904,558 80,459 118,636,139) 24,219 Al 31 December 2023 401,373,097 The falr v81ue of the Inve8tm8nt propert188 has b88n arrlved al on the basls of valuations carri8d out by Mr A. Weis and Mr S. Wels, Trustees who have èxlensive 8xperien¢e within the property sector. Methods adopted include cornparing property values lo simllar properties and the assessment ol comparabl8 rental yields. Tha valuation was mode on an open market value basis by referenc8 lo market evldence of Iransaction prlc8s for 8imllor proporties. 14 D•btor• 2023 2022 Amounts lalllng du• wlthln one year: Trade debtors Other debtors Prepayments and accrued Income 1,507,419 313.607 793.400 1.098,250 317,724 558,641 2,614.426 1,972,615 15 Lo•n• and ov•rdraft• 2023 2022 Bank overdrafts B8nk loan3 661,46S 8.9,506 33.395,031 7,651,971 33,395,031 Payable wlthin one year Payable after one year 914,515 6,737,456 906,050 32,488.981 The long-temi108ns 8re secured by fixed charges ovgr the investment prop8rties of the ch8rity. The charity has mulliplo loans across a range of banks, with interest rates being based on a mixtur8 of % abovg Base rates. 17-
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Cr•dltors: amounts fjlllng due wlthln ono y•8r 2023 2022 Notes Bank loan5 and overdrafts Other taxation and social security Trade creditors Other creditors Accwals and deferr&d Sncom 15 914,515 797,813 1,221,537 3,235,005 4,935,637 906,050 730,663 1,770,159 3.398,522 4,909,159 11.104,507 11,714,553 The bank loans are secured by fixed tharge3 over the investment propertles ol the charlty. 17 CT•dltorn: •mounts falllng due •ftor mor• th•n one year 2023 2022 Bank108ns 15 6,737,456 32,488,981 The long-term loans are 88cured by flx&d charge8 over the investment propertles of the charity. 18 Unr••trlct•d lund•- D••lgnat•d The unrestricted lunds of the charity comprise the unexpended balance8 of donations and grants whlch are not skJbje¢l lo spedfi¢ CL)nditions by donors and gr8rilors as to how they may be used, Th868 include designated funds whlch have been sel aslde out of unreslricled funds by the tfuslees for specific purposes. At 1 J•nu•ry 2023 Incomlng R•sourc•s r•sourc•s •xp•ndad G•ln• and At31 D•cemb•r 2023 General fund8 414,048,549 25,843,839 118,901,658) 118.636.139} 402,354,591 Prevlous year: At 1 January 2022 Incomlng R•8our¢•• rosaurcos •xpondod Galns and lo$s•s At31 D•cemb•r 2022 General lunds 409,016.757 21,102,670 117.599,4601 1,528,582 414,048,549 18-
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 R•l•t•d p•rty transactlons A.W. CharSlable Trust, whlch Is connectad lo tru51ee Mr A Weis, was ow8d £2,029.32012022.' £2,329.3201 as al thé year end. The loan is repayab18 on demand and no interest was charged in the year no security on th8 debt. During the year charll8ble donations of £10,000,ODO were made lo the charity. Combineil Property Control. whlch Is connact8d to Iwsl88 Mr A Weis, was owèd £219,30712022.' £30,851) by Ihe charity a5 at the year end. Thè loan is repayable on demand and no Interest was charged In the year with no 58curity on the debt. Bri118h friends of Ezral Yisrael Klryal Sefer, whlch is connected to trustee MT D Nouwirth. was owed £nll12022'. £147,811) by the charity as al the y8ar end. The loan balance was repaid in full. The loan was repayable on demand and no inlaresl was charged In the year wlth no security on the debl. During the year charitab18 donalions of £637,811 were made to the Charity. Mr A Wei8. who Is 8 trustee, was owed £661,000 12022.. £nill as al the year end, Th8 loan is repayable on d8mand 8nd no intoresl was charged in the year with no Sgcurily on the debt. During the year Mr A Weis made donatn$ 01 £2.000.00012022'. £nill lo the chaiily. Convalescent Relreat Llmlled, which Is connected lo INslee Mr D Neuwrth rocelved £388,680 in charitable donations from the charity during the y&8r. RNH Synagogue & College Ltd, which is connected lo Trustees Mr D Neuwirth and Mr B Stone received £190,966 in charitable donations from the charfty during the year. The SYM¢hell¢ Trust. whlGh 18 connected to trustee Mr D Neuwirth ceiVed £100,000 in charitable donalions from thg ¢hgrity during tho y88r. BCH Trust, which 18 connected to trustee Mr 8 Stone recelved £26,000 In ch8rltable donotions from the charfty durlng lh8 year. OHR Torah Ltd, which is connected lo Iwslee Mr D Neuwlrth rgceived £15,800 In charll8ble donallons from the ch8rliy during the year. 20 Ca•h generated from oparatSon• 2023 2022 IDeffcltysurpus for the year 111,693,958) 5.031,792 Adjustments for.. Investment Income recognlsed In slalement of fln8ncial activities Fair Value g85ns and losses on Investment properties 123,339,002) 121.097,9701 18,636,139 11,528,582) Movèmènts In worklng caprtal.. Ilncre85eydeer8ase in debtors ID8crgasellincroase in creditors {676,5501 1618,5111 647,973 1,302,709 Cagh 8bsorb•d by oporatlons 117,691,882) 115.644,0781 19-
THE HELPING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Analysis of chang•* In net funds At 1 January 2023 ¢uh flo At 310oc•mbgr 2023 Cash at bank and In hand Bank overdrafts 36,374,910 120,165,879> 16,209,031 1661,4651 1681,46S1 36,374,910 120,827.3441 15.547,566 Loans falling due wilhln ane year Loans fallino due after more than one year 1906,0501 653,000 132,488.9811 25,751,525 1253,050) 16,737,456) 2,979,879 5,577.181 8.557.060 20-