## **Olam Chesed Yiboneh**
**Report and Financial Statements**
**For The Year Ended 31 October 2023 Charity Number 1106879**
## **Olam Chesed Yiboneh**
|Contents||
|---|---|
||Page|
|Legal and Administrative Information|1|
|Report of The Trustees|2 and 3|
|Statement Of Financial Activities|4|
|Balance Sheet|5|
|Notes forming part of the financial statements|6 to 8|
|Accountants Report|9|
## **Olam Chesed Yiboneh**
## **Trustees**
Mrs. Helene Frand Mr. David Neuman Mr. Chaim Yitzckok Schachter
## **Administration Address**
61 Fairholt Road London N16 5EW
**Charity Number 1106879**
## **Independent Examiner**
C. Rosen & Co
Page 1
## **Olam Chesed Yiboneh Report of the Trustees**
The Trustees present their annual report with accounts of the Charity for the Year Ended 31 October 2023.
## **Status and Administration**
Olam Chesed Yiboneh is constituted by trust deed, dated 9th September 2004 and is a Registered Charity.
## **Trustees**
The Trustees in office throughout the year were: Mrs. Helene Frand
Mr. David Neuman
Mr. Chaim Yitzckok Schachter
No trustee has any beneficial interest in the Charity and all gave their time voluntarily.
## **Objectives and Activities**
The Objects of the Charity are the Jewish community throughout the world.
A) The relief of poverty amongst persons in conditions of need, hardship, physically or mentally handicapped, or otherwise suffering from some disability in Jewish Community throughout the world. B) To publish literature and learned works of all kinds and the furtherance of education in or in the knowledge of the Orthodox Jewish Faith.
C) To advance religion in accordance with the Orthodox Jewish Faith.
Page 2
## **Olam Chesed Yiboneh**
## **Report of the Trustees**
## **Risk Assessment**
The Charity has identified and assessed the major risks to which it is exposed, in particular those of safety and protection of the vulnerable young adults whilst in the Charity's care as well as the finances of the Charity. The Charity is satisfied that systems are in place and routinely assessed including procedures for Child Protection, Health and Safety, Vulnerable Adults Policy and Financial Management and Controls.
## **Responsibilities of the Trustees**
Charity Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the Balance Sheet, date, and of its incoming resources, including income and expenditure for the financial year.
In preparing those financial statements, the Trustees should follow best practice and:
- a) Select suitable accounting policies and the apply them consistently.
- b) Make judgements and estimates that are reasonable and prudent.
- c) Follow applicable accounting standards and the Charities SORP 2015,
- updated May 2008 disclosing and explaining any departures in the financial statements.
- d) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Trustees to ensure that the financial statements comply with the Charity Law.
The Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.
## **Board Of Trustees**
The members of the Board Of Trustees are set out on Page 1. Approved by The Trustees of on 14 August 2024 and signed on behalf of them all.
Trustee Mrs. Helene Frand
Page 3
## **Olam Chesed Yiboneh**
## **Statement Of Financial Activities**
## **For The Year Ended 31 October 2023**
|**For The Year Ended**
**31 October 2023**|||
|---|---|---|
|Notes
Unrestricted
Restricted
Funds
Funds
£
£
**INCOMING RESOURCES**
**Activities to further the Charity's Objects**
2
216,099
0
**Interest Income**
0
0
**Total Incoming Resources**
216,099
0
**Total Incoming Resources**
**216,099**
**0**
**RESOURCES EXPENDED**
Cost of Generating Funds
0
0
**Net Incoming Resources Available**
**For Charitable Application**
**216,099**
**0**
Cost of Activities In Furtherance
3
of the Charity's Objects
214,848
0
Governance Costs
5
0
0
**Total Charitable Expenditure**
**214,848**
**0**
**Total Resources Expended**
3
**214,848**
**0**
**Net Movement In Funds**
**1,251**
**0**
**Transfer To / (From) Reserves**
0
0
**Net Reserves for the Year**
**1,251**
**0**
**Total Funds**
**52,124**
**0**
**Total Funds**
11
**£ 53,375**
**£ 0**
**Carried Forward**
**Brought Forward**|_2023_
_2022_
Total
Funds
_Total_
_Funds_
£
£
216,099
224,010
0
0
216,099
224,010
**216,099**
**224,010**
0
0
**216,099**
**224,010**
214,848
223,968
0
0
**214,848**
**223,968**
**214,848**
**223,968**
**1,251**
**42**
0
0
**1,251**
**42**
**52,124**
**52,082**
**£ 53,375**
**£ 52,124**|_2022_
_Total_
_Funds_
£
224,010
0
224,010|
|||**224,010**
0
**224,010**
223,968
0
**223,968**
**223,968**|
Page 4
## **Olam Chesed Yiboneh**
## **Balance Sheet at 31 October 2023**
|Notes
**Current Assets**
Debtors
8
Cash at Bank and in Hand
**Creditors**
**:**Amounts falling due
within one year
9
**Net Current Assets**
**Total Assets less Current Liabilities**
**Net Assets**
10
**Unrestricted Funds**
11
**Total Funds**|_2023_
_2022_
£
£
50,130
50,130
3,245
1,994
53,375
52,124
0
0
53,375
52,124
53,375
52,124
**£ 53,375**
**£ 52,124**
53,375
52,124
**£ 53,375**
**£ 52,124**|_2023_
_2022_
£
£
50,130
50,130
3,245
1,994
53,375
52,124
0
0
53,375
52,124
53,375
52,124
**£ 53,375**
**£ 52,124**
53,375
52,124
**£ 53,375**
**£ 52,124**|
|---|---|---|
|||52,124|
|||**52,124**|
||**£**|52,124|
|||**52,124**|
Approved by the Trustees on 14 August 2024, and signed on behalf of them all.
Mr. Chaim Yitzckok Schachter Trustee
The notes on pages 6 to 8 form part of these accounts.
Page 5
**Olam Chesed Yiboneh**
**Notes To The Accounts - 31 October 2023**
## **1) Principal Accounting Policies**
## **Basis of Accounting**
The Accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (effective from April 2015).
## **Cash Flow**
The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.
## **Donations and Fund Accounting**
Donations received for the general and main purposes of the Charity is included as unrestricted funds in the Statement of Financial Activities when receivable.
Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.
## **Resources Expended**
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
The irrecoverable element of VAT is included with the item of expense to which it relates.
|Unrestricted
Restricted
Funds
Funds
£
£
**2) Incoming Funds**
Donations Received
216,099
User Fees
0
Total Income Generated
**£ 216,099**
**£ 0**|Total
_2023_
_2022_
£
£
216,099
224,010
0
0
**£ 216,099**
**£ 224,010**|
|---|---|
Page 6
## **Olam Chesed Yiboneh**
## **Notes To The Accounts - 31 October 2023**
|Unrestricted Restr
**3) Analysis of Total Resources Expended**
Funds
Funds
**Charitable Activities**
Cost of Activities In Furtherance
of the Charity's Objects
Charitable Activities
Donations and Grants
214,848
0
Total
214,848
0
Total Cost of Activities In Furtherance
of the Charity's Objects
**£ 214,848**
**£ 0**
**4) Cost of Generating Funds**
**5) Governance Costs**
Accountancy
Bank Charges
Interest Expense
**6)**
**7)** The average number of Employees during the year, on a full time equiv
basis was
No Employee was paid above £60,000 per year.
**Taxation**
The Charity is exempt from taxation on its charitable activities.
Charitable Activities|Total
Total
_2023_
_2022_
£
£
214,848
223,968
214,848
223,968
**£ 214,848**
**£ 223,968**
**£ 0**
**£ 0**
0
0
0
0
0
0
**£ 0**
**£ 0**
_2023_
_2022_
0
0|
|---|---|
## **8) Related Party Transactions**
No trustee nor any person connected with them received any remuneration, or claimed any expense, during the year, from this or any related Charity.
There were no Related Party Transactions in the Year.
Page 7
## **Olam Chesed Yiboneh**
## **Notes To The Accounts - 31 October 2023**
|**8) **|**Debtors**|_2023_|||||_2022_||||
|---|---|---|---|---|---|---|---|---|---|---|
|||£|||||£||||
||Other Debtors|50,130|||||50,130||||
|||**£ 50,130**|||||**£ 50,130**||||
|**9) **|**Creditors: Amounts falling due within**|**one year**|||||||||
|||_2023_|||||_2022_||||
|||£|||||£||||
||Accruals|||0|||||0||
||Other Creditors|||0|||||0||
||||**£**|**0**||||**£**|**0**||
|**10) **|**Net Assets of The Charity's Funds**||||**Net**||||||
|||**Fixed**|||**Current**||**Long Term**|||**Fund**|
|||**Assets**|||**Assets**||**Liabilities**|||**Balances**|
|||£||||£|£|||£|
||**Unrestricted Funds**|||0||53,375|||0|53,375|
||**Total Funds**||**£**|**0**|**£**|**53,375**||**£**|**0**|**£ 53,375**|
|**11) Unrestricted**|**Funds**|**: Movements In**|**The Year**||||
|---|---|---|---|---|---|---|
|**Balance at**||||**Transfer To**||**Balance at**|
|**31 October 2022**||**Income**|**Expended**|**/(From)**||**31 October 2023**|
||£|£|£|**Reserves**||£|
|General Reserve|52,124|216,099|214,848||0|53,375|
|**Total Funds**|**£ 52,124**|**£ 216,099**|**£ 214,848**|**£**|**0**|**£ 53,375**|
## **12) Related Party Transactions**
No trustee nor any person connected with them received any remuneration, or claimed any expense, during the year, from this or any related Charity.
There were no Related Party Transactions in the Year.
Page 8
**Independent Exmainer's Report to the Trustees on the Unaudited Accounts of the Charity**
## **Olam Chesed Yiboneh**
## **For the Year Ended 31 October 2023**
We report on the financial statements of Olam Chesed Yiboneh for the Year Ended 31 October 2023 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. These financial statements have been prepared, under the historical cost convention, and in accordance with the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (Issued 2015), and the Financial Reporting Standard for Smaller Entities 102 (effective 2016), and the accounting policies set out therein.
## **Respective Responsibilities Of Trustees and Independent Exmainer**
As described on page 3, the trustees of the charity are responsible for the preparation of the accounts, and they consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 144 of the Act, whether particular matters have come to our attention.
## **Basis of Independent Examiner's Report**
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. These procedures provide only the assurance expressed in our opinion.
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
## **Opinion**
In our opinion, no matter has come to our attention,
- 1) which gives us reasonable cause to believe that, in any material respect, the requirements a) to keep accounting records in accordance with section 130 of the Act; and
- b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
- 2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date 14 August 2024
## **Independent Exmainer**
C. Rosen & Co
Page 9