**Charity registration number 1108623 (England and Wales)**
## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
E Rembiszewski L Khalastchi J Cooper C Haim
(Appointed 25 May 2024) (Appointed 25 May 2024)
## **Charity registration**
England and Wales
1108623
## **Principal address**
3 Court Lodge 48 Sloane Square London SW1W 8AT
## **Independent examiner**
Michael M. Bayer, FCA Hallswelle House 1 Hallswelle Road London NW11 0DH
## **Bankers**
National Westminster Bank PLC
## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 11|
## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The Trustees present their report and financial statements for the year ended 31 March 2025.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, 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)” (as amended for accounting periods commencing from 1 January 2016).
## **Objectives and activities**
The charity's objects and focus of activities remain attracting donations from the public to support the medical work carried out at the Sheba Medical Centre in the Tel Hashomer Hospital in Israel.
## _Public benefit_
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Trustees have also had regard to the Charity Commission's guidance on public benefit when preparing this report, and consider that the public benefit criteria are satisifed by the charitable aims and objectives.
## _Activities_
The Trustees consider that the performance of the charity during the year has been satisfactory.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
In pursuance of the charity's objectives, grants totalling £319,900 (2024 - £272,000) were made to the Sheba Medical Centre.
## **Financial review**
The results for the year and the financial position of the charity at the end of the financial year are shown in the Statement of Financial Activities and Balance Sheet on pages 4 and 5 respectively.
At the end of the year cash funds totalling £69,709 (2024 - £94,103) were held.
Donations received by the charity during the year totalled £359,201 (2024 - £264,811).
## _Reserves policy_
As the charity has minimal expenses, it is the policy of the Trustees to pay funds to the Sheba Medical Centre as soon as is practicable after receipt and to maintain only a minimum level of reserves.
## _Major risks_
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity does not employ staff.
## **Plans for future periods**
The Trustees will ensure that the charity continues to support the work of the hospital.
## **Structure, governance and management**
The charity was established by a charitable trust deed on 10 March 2005.
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## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
The Trustees who served during the year and up to the date of signature of the financial statements were: E Rembiszewski
V Aaron (Resigned 25 May 2024) S Smouha (Resigned 25 May 2024) C Philippsohn (Resigned 25 May 2024) L Khalastchi J Cooper (Appointed 25 May 2024) C Haim (Appointed 25 May 2024)
## _Recruitment and appointment of trustees_
Appointment of Trustees is governed by the trust deed of the charity. Trustees may be appointed by proposal to a meeting of Trustees or by being co-opted by existing Trustees to fill a vacancy or as an additional trustee. Training needs are assessed according to each trustee's needs. The Trustees are officers of the organisation and are responsible for the day to day activities of the charity.
## _Organisational structure_
The charity is organised so that the Trustees meet regularly to manage the charity's affairs.
The trust deed authorises the Trustees to make and hold investments using the general funds of the charity. No investments are currently held.
The Trustees' report was approved by the Board of Trustees.
L Khalastchi
## **Trustee**
12 February 2026
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## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
I report to the Trustees on my examination of the financial statements of British Friends of the Sheba Medical Centre at Tel Hashomer (the charity) for the year ended 31 March 2025.
## **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.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 Charities Act 2011.
- 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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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.
## **Michael M. Bayer, FCA Chartered Accountant**
Hallswelle House 1 Hallswelle Road London NW11 0DH 12 February 2026
- 3 -
## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
359,201
-
Investments
**4**
86
-
**Total income**
359,287
-
**Expenditure on:**
Raising funds
**5**
59,133
-
Charitable activities
**6**
321,443
-
**Total expenditure**
380,576
-
**Net expenditure and**
**movement in funds**
(21,289)
-
**Reconciliation of funds:**
Fund balances at 1 April 2024
76,567
21,636
**Fund balances at 31 March**
**2025**
55,278
21,636|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
359,201
264,811
-
86
82
-
359,287
264,893
-
59,133
-
-
321,443
273,027
-
380,576
273,027
-
(21,289)
(8,134)
-
98,203
84,701
21,636
76,914
76,567
21,636|**Total**
**2024**
**£**
264,811
82
264,893
-
273,027
273,027
(8,134)
106,337
98,203|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
|**Notes**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Income funds**
Restricted funds
**13**
Unrestricted funds|**2025**
**£**
9,575
69,709
79,284
(2,370)|**£**
76,914
21,636
55,278
76,914|2024
£
5,000
94,103
99,103
(900)|£
98,203|
|---|---|---|---|---|
|||||21,636
76,567|
|||||98,203|
The accounts were approved by the Trustees on 12 February 2026
L Khalastchi **Trustee**
- 5 -
**BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
British Friends of the Sheba Medical Centre at Tel Hashomer is a charity registered with the Charity Commission for England and Wales. The charity's business address is 3 Court Lodge, 48 Sloane Square, London SW1W 8AT. The nature of the charity's operations and principal activities are set out in the Trustees' Report.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the charity's trust deed, 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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
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 accounts 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.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming 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.
Donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
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## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Resources expended**
Resources expended are included in the statement of financial activities on an accruals basis.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
## **1.7 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## 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.
## 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.
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. 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.
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**BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **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 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Donations and gifts|359,201|264,811|
## **4 Income from investments**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Interest receivable|86|82|
|**5**|**Raising funds**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Staging fundraising events|59,133|-|
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## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **6 Charitable activities**
|Grant funding of activities (see note 7)
Share of governance costs (see note 8)
**7**
**Grants payable**
Grants to institutions:
Sheba Medical Centre at Tel Hashomer Hospital
**8**
**Support costs allocated to activities**
Governance costs
**Analysed between:**
Charitable activities|**2025**
**£**
319,900
1,543
321,443
**2025**
**£**
319,900
**2025**
**£**
1,543
1,543|**2024**
**£**
272,000
1,027|
|---|---|---|
|||273,027|
|||**2024**
**£**
272,000|
|||**2024**
**£**
1,027|
|||1,027|
## **9 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration during the year, nor were any of them reimbursed any expenses during the year.
## **10 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
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## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**11**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**12**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2025**
**£**
9,575
-
9,575
**2025**
**£**
2,370|**2024**
**£**
-
5,000|
|---|---|---|
|||5,000|
|||**2024**
**£**
900|
## **13 Restricted funds**
The income funds of the charity include restricted funds comprising the following balances of donations and grants held on trust for specific purposes:
||**At**|**1 April**|**At**|**31 March**|
|---|---|---|---|---|
|||**2024**||**2025**|
|||**£**||**£**|
|||21,636||21,636|
|**Previous year:**|**At**|**1 April**|**At**|**31 March**|
|||**2023**||**2024**|
|||**£**||**£**|
|||21,636||21,636|
## **14 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At**|**1 April**|**Incoming**|**Resources**|**At**|**31 March**|
|---|---|---|---|---|---|---|
|||**2024**|**resources**|**expended**||**2025**|
|||**£**|**£**|**£**||**£**|
|General funds||76,567|359,287|(380,576)||55,278|
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## **BRITISH FRIENDS OF THE SHEBA MEDICAL CENTRE AT TEL HASHOMER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**14**|**Unrestricted funds**||||**(Continued)**|**(Continued)**|
|---|---|---|---|---|---|---|
||**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**At**|**31 March**|
|||**2023**|**resources**|**expended**||**2024**|
|||**£**|**£**|**£**||**£**|
||General funds|84,701|264,893|(273,027)||76,567|
|**15**|**Analysis of net assets between funds**||||||
||||**Unrestricted**|**Restricted**||**Total**|
||||**funds**|**funds**|||
||||**2025**|**2025**||**2025**|
||||**£**|**£**||**£**|
||**At 31 March 2025:**||||||
||Current assets/(liabilities)||55,278|21,636||76,914|
||||55,278|21,636||76,914|
||||**Unrestricted**|**Restricted**||**Total**|
||||**funds**|**funds**|||
||||**2024**|**2024**||**2024**|
||||**£**|**£**||**£**|
||**At 31 March 2024:**||||||
||Current assets/(liabilities)||76,567|21,636||98,203|
||||76,567|21,636||98,203|
## **16 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
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