2023-07-31-accounts

CHARITY REGISTRATION NUMBER: 1109649

UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Financial Statements

31 July 2023

HAFFNER HOFF LTD

Accountants & statutory auditor 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Financial Statements

Year ended 31 July 2023

	Page
Trustees' annual report	1
Independent auditor's report to the trustees of UK Friends of
Yad Yisroel Incorporating Sponsor a Meal Foundation	6
Statement of financial activities	11
Statement of financial position	12
Statement of cash flows	13
Notes to the financial statements	14

UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Trustees' Annual Report

Year ended 31 July 2023

The trustees present their report and the financial statements of the charity for the year ended 31 July 2023.

Reference and administrative details

Registered charity name	UK Friends of Yad Yisroel Incorporating Sponsor a Meal
	Foundation
Charity registration number	1109649
Principal office	42 Park Road
	Manchester
	M8 4HU
The trustees
	M Haffner
	M Brand
Auditor	Haffner Hoff Ltd
	Accountants & statutory auditor
	2nd Floor - Parkgates
	Bury New Road
	Prestwich
	Manchester
	M25 0TL
Bankers	Barclays
	Manchester City Office
	Leicestershire
	LE87 2BB
Solicitors	Gunnercooke
	1 Cornhill
	London
	EC3V 3ND

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Trustees' Annual Report (continued)

Year ended 31 July 2023

Structure, governance and management

UK Friends of Yad Yisroel Incorporating Sponsor a Meal is constituted under a deed dated 18 May 2005. It is a registered charity number 1109649 and was registered on 24 May 2005. The name of the charity was amended in the year to 31 July 2013 with the previous name of the charity being UK Friends of Yad Yisroel.

Recruitment and appointment of new trustees would be in line with the trust deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.

There is no chief executive officer. The day to day affairs are undertaken by the trustees with some administrative duties carried out by Mrs D Haffner. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.

There are currently no policies for the induction or training of new trustees. There is a desire to undertake a recruitment drive and this will include the induction and training of trustees.

Risk review

It is the responsibility of the trustees to manage risks to which the charity is exposed.

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.

The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations and following up to ensure the grants are used for the intended charitable purposes. The trust has one main beneficiary, namely Yad Yisroel Belarus, with whom the trust has a long standing grant giving relationship.

The trustees are conscious of the risk of being unable to raise sufficient funds to meet the needs of its beneficiaries. The charity has engaged a paid fundraising consultant during the year following the year covered by these accounts in an effort to increase funds.

A further risk faced by the charity is ensuring that it has the required quorum of trustees. There is a desire to undertake a recruitment drive and this will include the induction and training of trustees.

Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.

Governance

Following the death of the original settlor, Mr Litke, and the resignation of Rabbi Guttentag, the Trust appointed Mr Brand. The current Trustees, Mr Haffner and Mr Brand are reviewing the internal governance of the Trust with professional assistance from charity governance specialists to ensure that the highest levels of governance are maintained. In the short term this will involve some updates to the original Deed of Trust and in the longer term an ambition to incorporate the Trust.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Trustees' Annual Report (continued)

Year ended 31 July 2023

Objectives and activities

The objects of the charity are to advance religious education in accordance with the doctrines and principles of the Orthodox Jewish Faith in particular by the support and finance of the Institute of Jewish learning and education known as Yad Yisroel situated in Belarus and throughout the world; to advance the education and development of students attending Yad Yisroel in particular by the running of educational and social programmes in the United Kingdom; relief of financial hardship anywhere in the world by way of grants or loans to beneficiaries; to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.

Grant making policy

The charity is funded by donations. The charity gives out grants in line with the above objects.

Grants made during the year are as detailed in the accounts.

The application of the funds is by way of grants to either institutions or individuals and is almost always to institutions.

The trustees consider they have met the public benefit test and outline these achievements below.

The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.

The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Trustees' Annual Report (continued)

Year ended 31 July 2023

Achievements and performance

The charity received £1,254,168 (2022: £3,515,357) in donations during the year.

The charity made use of the services of approximately 10 volunteers engaged in fundraising activities, thereby increasing the number of donations received.

The charity paid out grants totalling £1,305,109 (2022: £1,783,065) during the year.

£1,220,500 of these grants was paid to Yad Yisroel Belarus to assist with its educational projects as well as its Ukrainian rescue efforts. These grants were paid in line with the stated objects of the charity.

Expenditure on raising funds, as described in the notes to the accounts, was £10,680 (2022: £2,032),

Support costs were £25,421 (2022: 30,072). These relate mainly to accountancy fees and other professional fees incurred.

There were no investments made during the year.

Related party transactions during the year are as disclosed in the notes to the accounts.

There was an overall net expenditure and net movement in funds for the year amounting to £87,042 (2022: income of £87,862).

The charity has updated its use of IT to include the use of QuickBooks bookkeeping software and to include better documentation of the identity of donors.

Financial review

In the current year the charity was successful in meeting their aims.

The trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.

Reserves policy

The Unrestricted Fund represents the unrestricted funds arising from past operating results. The trustees wish to keep reserves as low as possible in order to maximise paying out of grants.

The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.

In considering the limited financial obligations of the charity, the trustees have resolved to maintain a minimum reserve practical for donations which are seasonal.

The free reserves, being the net current assets of the charity, were £16,082 (2022: £103,124), all of which are unrestricted.

Books and records inspection

In February 2024 the Charity Commission opened a books and records inspection into the charity's records in connection with an investigation into another charity with which the trustees have no connection. The Trustees are aware of potential risks to fundraising and are doing everything that they can to mitigate the risk and maintain confidence in the activities of the charity. The trust has promptly made its books and records available for inspection. The trustees welcome this inspection and the opportunity to co-operate with the regulator.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Trustees' Annual Report (continued)

Year ended 31 July 2023

Plans for future periods

The trustees plan to continue raising funds for projects in line with the trust deed and pursue those objectives and projects with all the resources available to the charity.

The charity has engaged a paid fundraising consultant during the year following the year covered by these accounts.

Future plans also include recruitment of new trustees and looking to incorporate the trust in order to reduce risk and further streamline administration.

Trustees' responsibilities statement

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the applicable Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' annual report was approved on 31 May 2024 and signed on behalf of the board of trustees by:

M Haffner Trustee

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Independent Auditor's Report to the Trustees of UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Year ended 31 July 2023

Opinion

We have audited the financial statements of UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation (the 'charity') for the year ended 31 July 2023 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 July 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Independent Auditor's Report to the Trustees of UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation (continued)

Year ended 31 July 2023

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

• the information given in the trustees' report is inconsistent in any material respect with the financial statements; or

• adequate accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Independent Auditor's Report to the Trustees of UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation (continued)

Year ended 31 July 2023

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

• The nature of the industry and sector, control environment and business performance;

• Results of our enquiries of management about their own identification and assessment of the risks of irregularities;

• Any matters we identified, having obtained and reviewed the company's documentation of their policies and procedures relating to (a) identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; (b) detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; (c) the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; (d) the matters identified as to how and where fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code, UK tax legislation and UK Charity Act.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

As a result of performing the above, we identified no key audit matters relating to the potential risk of fraud.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Independent Auditor's Report to the Trustees of UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation (continued)

Year ended 31 July 2023

Our procedures to respond to risks identified included the following:

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

enquiring of management concerning actual and potential litigation and claims;

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Independent Auditor's Report to the Trustees of UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation (continued)

Year ended 31 July 2023

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

The firm is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a charity under Section 144(2)(a) of The Charities Act 2011.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Haffner Hoff Ltd

2nd Floor - Parkgates Accountants & statutory auditor Bury New Road Prestwich Manchester M25 0TL

31 May 2024

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Statement of Financial Activities

Year ended 31 July 2023

		2023		2022
		Unrestricted
		fundsTotal funds		Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	1,254,168	1,254,168	3,515,357
		-----------------------------------------	-----------------------------------------	-----------------------------------------
Total income		1,254,168	1,254,168	3,515,357
		=========================================	=========================================	=========================================
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies	5	10,680	10,680	2,032
Expenditure on charitable activities	6,7	1,330,530	1,330,530	3,425,463
		-----------------------------------------	-----------------------------------------	-----------------------------------------
Total expenditure		1,341,210	1,341,210	3,427,495
		=========================================	=========================================	=========================================
		-----------------------------------------	-----------------------------------------	-----------------------------------------
Net (expenditure)/income and net movement in funds		(87,042)	(87,042)	87,862
		=========================================	=========================================	=========================================
Reconciliation of funds
Total funds brought forward		103,124	103,124	15,262
		-----------------------------------------	-----------------------------------------	-----------------------------------------
Total funds carried forward		16,082	16,082	103,124
		=========================================	=========================================	=========================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 19 form part of these financial statements.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Statement of Financial Position

31 July 2023

		2023		2022
	Note	£	£	£
Current assets
Debtors	13	2,500		–
Cash at bank and in hand		36,549		124,404
		----------------------------		--------------------------------
		39,049		124,404
Creditors: amounts falling due within one year	14	22,967		21,280
		----------------------------		--------------------------------
Net current assets			16,082	103,124
			----------------------------	--------------------------------
Total assets less current liabilities			16,082	103,124
			----------------------------	--------------------------------
Net assets			16,082	103,124
			============================	================================
Funds of the charity
Unrestricted funds			16,082	103,124
			----------------------------	--------------------------------
Total charity funds	15		16,082	103,124
			============================	================================

These financial statements were approved by the board of trustees and authorised for issue on 31 May 2024, and are signed on behalf of the board by:

M Haffner Trustee

The notes on pages 14 to 19 form part of these financial statements.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Statement of Cash Flows

Year ended 31 July 2023

	2023	2022
	£	£
Cash flows from operating activities
Net (expenditure)/income	(87,042)	87,862
Adjustments for:
Accrued (income)/expenses	(1,080)	7,200
Changes in:
Trade and other debtors	(2,500)	–
Trade and other creditors	2,767	13,000
	----------------------------	--------------------------------
Cash generated from operations	(87,855)	108,062
	----------------------------	--------------------------------
Net cash (used in)/from operating activities	(87,855)	108,062
	============================	================================
Net (decrease)/increase in cash and cash equivalents	(87,855)	108,062
Cash and cash equivalents at beginning of year	124,404	16,342
	--------------------------------	--------------------------------
Cash and cash equivalents at end of year	36,549	124,404
	================================	================================

The notes on pages 14 to 19 form part of these financial statements.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Notes to the Financial Statements

Year ended 31 July 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 42 Park Road, Manchester, M8 4HU.

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

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Notes to the Financial Statements (continued)

Year ended 31 July 2023

3. Accounting policies (continued)

Incoming resources (continued)

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity 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.

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

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Notes to the Financial Statements (continued)

Year ended 31 July 2023

3. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Donations
Donations	1,254,168	1,254,168	3,515,357	3,515,357
	=========================================	=========================================	=========================================	=========================================

5. Costs of raising donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Costs of raising donations -
Advertising	10,680	10,680	2,032	2,032
	============================	============================	=======================	=======================

6. Expenditure on charitable activities by fund type

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Grants paid	1,305,109	1,305,109	1,783,065	1,783,065
Humanitarian relief	–	–	1,612,326	1,612,326
Support costs	25,421	25,421	30,072	30,072
	-----------------------------------------	-----------------------------------------	-----------------------------------------	-----------------------------------------
	1,330,530	1,330,530	3,425,463	3,425,463
	=========================================	=========================================	=========================================	=========================================

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Notes to the Financial Statements (continued)

Year ended 31 July 2023

7. Expenditure on charitable activities by activity type

		Grant funding	Support	Total funds	Total fund
		of activities	costs	2023	2022
		£	£	£	£
	Grants paid	1,305,109	18,222	1,323,331	1,794,178
	Humanitarian relief	–	–	–	1,624,086
	Governance costs	–	7,199	7,199	7,199
		-----------------------------------------	----------------------------	-----------------------------------------	-----------------------------------------
		1,305,109	25,421	1,330,530	3,425,463
		=========================================	============================	=========================================	=========================================
8.	Analysis of support costs
			Analysis of
			support costs	Total 2023	Total 2022
			£	£	£
	General office		5,867	5,867	14,449
	Governance costs		7,199	7,199	7,200
	Legal & Professional		12,355	12,355	8,423
			----------------------------	----------------------------	----------------------------
			25,421	25,421	30,072
			============================	============================	============================
9.	Analysis of grants
				2023	2022
				£	£
	Grants to institutions
	Ahlim Shel Torah			84,609	–
	Yad Yisroel Belarus			1,220,500	1,783,065
				-----------------------------------------	-----------------------------------------
				1,305,109	1,783,065
				-----------------------------------------	-----------------------------------------
	Total grants			1,305,109	1,783,065
				=========================================	=========================================
10.	Auditors remuneration
				2023	2022
				£	£
	Fees payable for the audit of the	financial statements		6,000	6,000
				=======================	=======================
	Fees payable to the charity's auditor and its associates for other services:
	Other non-audit services			1,200	1,200
				=======================	=======================

11. Staff costs

The average head count of employees during the year was Nil (2022: Nil).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Notes to the Financial Statements (continued)

Year ended 31 July 2023

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

13. Debtors

	2023	2022
	£	£
Prepayments and accrued income	2,500	–
	=======================	==============
Creditors: amounts falling due within one year
	2023	2022
	£	£
Trade creditors	10,267	–
Accruals and deferred income	7,200	8,280
Other creditors	5,500	13,000
	----------------------------	----------------------------
	22,967	21,280
	============================	============================

14. Creditors: amounts falling due within one year

15. Analysis of charitable funds

Unrestricted funds

	At 1			At 31
	Aug 2022	Income	Expenditure	Jul 2023
	£	£	£	£
General funds	103,124	1,254,168	(1,341,210)	16,082
	================================	=========================================	=========================================	============================
	At 1			At 31
	Aug 2021	Income	Expenditure	Jul 2022
	£	£	£	£
General funds	15,262	3,515,357	(3,427,495)	103,124
	============================	=========================================	=========================================	================================

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UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation

Notes to the Financial Statements (continued)

Year ended 31 July 2023

16. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2023
	£	£
Current assets	39,049	39,049
Creditors less than 1 year	(22,967)	(22,967)
	----------------------------	----------------------------
Net assets	16,082	16,082
	============================	============================
	Unrestricted	Total Funds
	Funds	2022
	£	£
Current assets	124,404	124,404
Creditors less than 1 year	(21,280)	(21,280)
	--------------------------------	--------------------------------
Net assets	103,124	103,124
	================================	================================

17. Analysis of changes in net debt

		At		At
	1	Aug 2022	Cash flows	31 Jul 2023
		£	£	£
Cash at bank and in hand		124,404	(87,855)	36,549
		================================	============================	============================

18. Related parties

During the year donations of £35,372 were received from related parties.

Mr M Brand, trustee of the charity, is also a director of Highfield Road Ltd. In a previous year the company lent the charity £5,500. This balance remains outstanding at the year end. The loan is interest free.

Mrs R Cohen, sister of M Brand, is a director of Benrac ltd. During the year the charity paid Benrac Ltd £4,500 in respect of services provided.

19. Taxation

UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

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