YANKOV CHARITABLE TRUST
(Registered Charity No. 1106703)
FINANCIAL STATEMENTS
for the year ended 30 September 2024
YANKOV CHARITABLE TRUST
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 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 2024.
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 £153,574 were made in the year to 30[th] September 2024.
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 CHARITABLE TRUST TRUSTEES, REPORT ( CONTINUED ) RISK MAIYAGEMENr The Trustees have assessed the major risks to which the Trust is exwsed. in particular those to the operations and fmances of the TrusL and are satisfied that SyS*ms are in place to mitigate its exposure tr) those risks. TRUSTEES, RESPONSIBILrriES The Trustees are required to prepare Financial Statements for each financi year which give a true and fair view of the state of affairs of the Trust and of its surplus or deficiency for that period. In preparing the Financial Statements, the TThteeS are required to: select suitsble accounting p)licies and apply them consistently make judgements and estimates that are reasonable and prudent follow applicable accounting Standards, subject to any material departures disclosed and explain¢d in the Financial Statements iv) prepare the Financial Statements on the going concem basis unless it is inappropriate to prcsumc that the trust will continue in bu5incss. The Trustees are respK)nsible for maintaining proper a¢¢ountin8 records which disclose with reasonable accurncy at any time the financial position of the Trust and to enable them to ensure that the Financial Statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Trust and hence for taking asonable steps for the prevention and detection of fraud and other irregularities. Mr Julian Lewin Trustee Date: 25th June 2025
YANKOV CHARrrABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YANKOV CHARITABLE TRUST YEAR EIYDED 30 SEPTEMBER 2024 I report on the accounts of the charity for the year endeA 30 September 2024 set out on pages 4 to 8. RESPEcrtVE RESPONSIBILITIES OF TRUSTEES AND M)EPENDENT EXAMtNER The charity's trustees are responsible for the preparation of the accounts. The ChIty'S trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities ACL to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities ACL and to state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINF.R'S STATEMFNT My examination was carried out in accordance with general Directions given by the Charity Commission. An eninatIOn includes a review of the accounting records kept by the charity's trtseS Consider that an audit is not reqUId for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independeni examination charity and a comparison of the accounts presented with those records. It aIso includes consideration of any unusual items or disclosure5 in the accounts. and seeking cxplanations from thc trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be Tequired in an audil. and consequently no opinion is given &$ to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMEwr I have completed my examination. I Conf that no matters have come to my attention in connection with the exajnination VIng me reasonable cause to believe that in any material respect: acwunting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or the aOUnts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the forni 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 rnatter considered &8 part of an independent examination. Mr L. Lerner FCA 9 Winchester Avenu Prcstwich, Manchester M25 OLJ Endependent examiner Date: 25 June 2025
YANKOV CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Note | 2024 |
2023 | ||
|---|---|---|---|---|
| £ £ |
£ | £ | ||
| GENERAL FUND | ||||
| INCOMING RESOURCES | 1.2 | |||
| Incoming Resources from Generating Funds | ||||
| Voluntary Income - Donations Received | 96,866 | 62,406 | ||
| Investment Income | 2 64,455 |
60,817 | ||
| _ | ______ | |||
| TOTAL INCOMING RESOURCES | 161,321 | 123,223 | ||
| RESOURCES EXPENDED | ||||
| Charitable activities | 3 | 156,771 |
343,070 | |
| _ | ______ | |||
| TOTAL RESOURCES EXPENDED | 156,771 | 343,070 | ||
| _ | ______ | |||
| NET INCOMING RESOURCES | ||||
| FOR THE YEAR | 4,550 | (219,847) | ||
| Loss on sale/revaluation of Fixed Assets | - | (109,971) | ||
| _ | ______ | |||
| NET MOVEMENT IN FUNDS | 4,550 | (329,818) | ||
| NET UNRESTRICTED FUNDS | ||||
| BROUGHT FORWARD | 351,052 | 680,870 | ||
| _ | _____ | |||
| UNRESTRICTED FUND CARRIED | ||||
| FORWARD | 355,602 | 351,052 | ||
| _ | _____ | |||
| All movements are in unrestricted funds | ||||
| The notes on pages 6 to 8 form part of these Financial Statements. |
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YANKOV CHARtrABLE TRUST STATEMENT OF FINANCIAL POSITION 30 SEPTEMBER 2024 Iyote 2024 2023 FIXED ASSETS Investments 834,966 CURRENT ASSETS Cash at Bank 17J46 82 J75 CREDITORS: Amounts falling due within one year NET CURRENT LIABILITIES (471 J64) {465,914) 363,602 369,052 CREDITORS: Amounts falling due after one year NET ASSETS 355,602 351.052 UNRESTRICTED FUNDS £355,602 £351,052 These financial statements were approved by the board of trustees and authorised for issue on 25 June 2025, and are signed on behalf of the board by: Julian Lewin - TRUSTEE The no*s on pages 6 to 8 form part of these Financial Statements.
YANKOV CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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.
3. 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
FOR THE YEAR ENDED 30 SEPTEMBER 2024
NOTES TO THE FINANCIAL STATEMENTS
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
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||||
|---|---|---|
|2024|2023|
|£|£|
|Income from syndicated investments in property|64,281|60,620|
|Bank interest|174|197|
|64,455|84,795|
|========= =========|
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3. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
----- Start of picture text -----
||||
|---|---|---|
|2024|2023|
|£|£|
|Charitable Donations from Unrestricted Funds|153,574|339,917|
|Support costs|2,644|2,350|
|Bank Charges and Interest|553|803|
|------------------- -------------------|
|156,771|343,070|
|========= =========|
----- End of picture text -----
The costs of charitable activities of includes grants totalling £61,876 to British Friends of Tiferes Chaim and £18,000 to British Friends of Kupat Hair, 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 2024
| 4. | FIXED ASSETS | |
|---|---|---|
| £ | ||
| Investments as at 1st October 2023 | 834,966 | |
| As at 30th September 2024 | £834,966 | |
| ========= | ||
| The syndicated investments are stated at fair value as assessed | ||
| by the Trustees. |
| 5. FUNDS Balance at 1stOctober 2023 Net Incoming Resources for the Year Balance at 30thSeptember 2024 |
£ 680,870 (329,818) £ 351,052 ====== |
|---|---|
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