2022-09-30-accounts

YANKOV CHARITABLE TRUST

(Registered Charity No. 1106703)

FINANCIAL STATEMENTS

for the year ended 30 September 2022

YANKOV CHARITABLE TRUST

INDEX TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Page
1 - 2	Trustees' Report
3	Independent Examiner’s Report
4	Statement of Financial Activities
5	Statement of Financial Position
6 - 8	Notes to the Financial Statements

YANKOV CHARITABLE TRUST TRUSTEES' REPORT

The Trustees have pleasure in presenting their Report together with the Financial Statements of the Trust for the year ended 30 September 2022.

LEGAL AND ADMINISTRATIVE INFORMATION

The Charity is governed by a Deed of Declaration of Trust dated 3[rd] September 2004. Trustees are appointed by the existing Trustees by Deed of Appointment and suitable recruitment and training procedures apply.

The Trustees who served throughout the year were Mr Julian Lewin, Mr Jacob Schonberg and Rabbi Aryeh Schonberg. Day to day affairs of the charity are administered by the trustees, the Chair of which is Mr Julian Lewin.

OBJECTIVES AND POLICIES OF THE TRUST

The Trust was established for the advancement of the Jewish religion and culture among the Jewish community throughout the world.

ACHIEVEMENTS AND PERFORMANCE

The trustees considered the Charity Commission guidance on public benefit and in fulfillment thereof the charity continued its philanthropic activities in support of religious, educational and other charitable organisations and aggregate grants of £66,802 were made in the year to 30[th] September 2022.

RESERVES POLICY AND GOING CONCERN

It is the Trust’s policy to maintain unrestricted funds in order to ensure that it is in a position to continue its Grant-making activities and to cover contingencies of additional calls being made upon the Charity for support of organisations or institutions in times of need. The net current liabilities situation is not of concern having regard to the ongoing support of the charity’s loan creditors.

INVESTMENT POLICY

The Trust Deed empowers the trustees to make investments which the trustees consider appropriate. The trustees effect investments which, over a medium period of years, are anticipated to generate a dependable flow of income coupled with capital growth.

GRANT-MAKING POLICY

Grants are made to charitable institutions and organisations in accordance with the objects of the charity.

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YANKOV CH.4RIT.4BLE TRUST TRLfsTEES' REPORT ( CONTINUED ) RTSK MAYAGEMEKr The Trusiees have assessed the major risks lo which the Trust is exFKJsed, in particular those to the operations and finances of the Tn￿l and are satisfied ihai systems are in place to mitigate its exposure lo Ihose risks. TRUSTEES, RESPONSIBILITIES The Trustees are required to prepare Financial Statements for each ftnancial year which give a trne and fair view of the stale of affairs of Ihe Trusi and of its surplus OT deficiency for ihal period. In preparing the Financial Statements, the Trustees are required to.. select suitable accounting policies and apply them Consistenily make judgements and estimates ihai are ￿2$Onable and prndeni follow applicable accouniing siandards, subject to any material departures disclosed and explained in the Financial Statements prepare the Financial Sialements on the going concern basis unless it is inappropriate to presume ihat the Inist will continue in busine&s. iv) The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy al an). time ihe financial posiiion of the Trus( and to enable them to ensure that the Financial Statements comply wilh Ihe Charities Act 2011. They ar¢ also responsible for safeguarding the asset5 of the Trust and hence for taking r&isonable steps for the prevention and deiection of fraud and other irregularities. Mr Julian Lewln Trustee Date: 25th June 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YANKOV CH.4RITABLE TRUST YEAR ENDED 30 SEPTEMBER 2022 I report on ihe accounts of ihe charity for the year endcd 30 September 2022 sei out on pages 4 to 8. RF.SPECTIVF. RESPONSIBILITIES OF TRUSTEES 4YD INDEPENDENT EXAMINER The charity's trusTees are re>+ponsible tor the preparation of the accounts. The chariry's Irusiees consider Ihat an audil 18 not required for ihis year under section 144 of the Charities Act 2011 (the Chariries Act) and that an Independent examination is needed. It is my respon8ibiliry to.. examine the acLounts under seciion 145 of ihe Chariiies .4ct. to follow the procedures laid down In the general Direciions given by the Chariry Commission {under seciion 145(5Hb) of the Chariries Aei, and to state wheiher particular mailers ha￿e come io my arieniion. BASIS OF If*DF.PF.NDEi%T EXAMINER'S STATE%IEi%T My examination was LaThied oui In acc4)rdance with s¥eneral Directions given by the Chariry Commission. An examination includes a review of ihe accounting records kept by the chaniy's Irusrees consider thai an audii is not required for ihis year under seciion 144 of ihe Charities ALt 2011 (the Chariries Acil and thai an Independent examination charity and a comparison of Ihe aLcounis presenieil ivith those records It also includes consideraiion ot any unusual iiems or disclosu￿S in ihe accounis, and seeking explanations from the iNstees concerningi any 4uch mailers. The procedures undertaken do no¢ provide all the evidence thai would be required in an audil, and ¢onsequcnily no opinion Is given gs to w'hether the accounts present a 'true and fair. view and ihe report is Iimiied to those matters gei out in Ihe sralem¢nt below. INDF.PENDF.NT EXAMINER'S STATF.MEYT I have completed my ¢xamination. l ¢onfirni Ihai no mailers have come to my attenlinn in LonneLlion with ihe examinaiioft giving me reasonable caus¢ to believe ihat in any material r¢speci". ac¢oun(ing records were noi kept in respect of the chariiy as required by seciion 130 01- the 201 l A¥t' or the accounts do noi accord with th0￿ records." or the ac¥ounls do nol comply with Ihe appli¥able requiremenls concerning the fom) and content t)f accounts set oui In the Chanties (Accounts and Reports) Regulations 2008 other Ihan any requirement thai the accounts give a 'ttue and fair view which Is not a m8tier considered as part of an independeni examination. Mr L Lemer FCA 9 Winchest¢r Avenue, Prestwich, Manchesier M25 OLJ Independent examiner Dale: 25, June 2023

YANKOV CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022

Note 2022 £ £ £ GENERAL FUND INCOMING RESOURCES 1.2 Incoming Resources from Generating Funds Voluntary Income - Donations Received 155,710 Investment Income 2 84,795 _ TOTAL INCOMING RESOURCES 240,505 RESOURCES EXPENDED Charitable activities 3 70,425 93,012 _ __ TOTAL RESOURCES EXPENDED 70,425 _ NET INCOMING RESOURCES FOR THE YEAR 170,080 Losses from revaluation of Fixed Assets (180,000) _ NET MOVEMENT IN FUNDS (9,920) NET UNRESTRICTED FUNDS BROUGHT FORWARD 690,790 _____ UNRESTRICTED FUND CARRIED FORWARD 680,870 _ All movements are in unrestricted funds The notes on pages 6 to 8 form part of these Financial Statements.

2021 £ 189,202 116,854 __ 306,056 93,012 _ 213,044 - 213,044 477,746 __ 690,790 _____

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Y.4JKOV CH.4RtTABI.F. TRLTST STATEIIENT OF FINANCIAL POSITION 30 SEPTEIIBER 2022 Note 2022 2021 FIXED ASSETS Investnients 1.074,043 1,254,043 CURRENT ASSF.TS Cash al Bank 13,724 7.835 CRF.DITORS: Amounts falling due within one year NF.T CURRF.NT LIABII,ITIES (365,173) {526.586) NETCURRFNr AssErs 708,869 727,457 CRF.DITORS: Amounts falling due ali¢r one year NET ASSF.T.S 680.870 690,790 UNRESTRICTF.D FUNDS £680,870 £690,790 These financial slaiemenl¥ were approved by the board of Iruslees and auihorised for issue on 25, June 2023, and are signed on behalf of the board by: Julian Lewin - TRUSTEE The notes on pages 6 to 8 fomi part of ihese Financial Staiements.

YANKOV CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. GENERAL INFORMATION

The Charity is governed by a Deed of Declaration of Trust dated 3[rd] September 2004. The address of the charity is 158 Albert Avenue, Prestwich, Manchester, M25 0HE.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The charity meets the definition of a public benefit entity under FRS 102.

Going concern

There are no material uncertainties about the charity's ability to continue, having regard to ongoing support from loan creditors.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no significant judgements or estimates made in the preparation of these financial statements.

Fund accounting

General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.

Incoming resources

Incoming resources represent receipts under gift aid and other donations received and income from syndicated investments in property.

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YANKOV CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Resources expanded

All expenditure is classified under the Charity's principal categories of charitable and other expenditure and by the type of expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Investments

Investments are included in the Balance Sheet at fair value.

2. INVESTMENT INCOME

----- Start of picture text -----
|||| |---|---|---| |2022|2021| |£|£| |Income from syndicated investments in property|84,795|116,854| |------------------- -------------------| |84,795|116,854| |========= =========|

----- End of picture text -----

3. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

----- Start of picture text -----
|||| |---|---|---| |2022|2021| |£|£| |Charitable Donations from Unrestricted Funds|66,802|93,012| |Support costs|2,480|-| |Bank Charges and Interest|1,143|-| |------------------- -------------------| |70,425|93,012| |========= =========|

----- End of picture text -----

The costs of charitable activities of includes grants totalling £17,491 to Yeshivas Toras Moshe, and the balance relates to grants under £10,000.

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YANKOV CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.	FIXED ASSETS
		£
	Investments as at 1st October 2021	1,254,043
	Revaluation deficit	(180,000)
	As at 30th September 2022	£1,074,043
		=========
	The syndicated investments are stated at fair value as assessed
	by the Trustees.
5.	FUNDS
		£
	Balance at 1stOctober 2021	690,790
	Net Incoming Resources for the Year	(9,168)
	Balance at 30thSeptember 2022	£681,622
		======

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