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← Yedidim Association Ltd

2024-03-31-accounts

REGISTERED COMPANY NUMBER: 05385704 (England and Wales) REGISTERED CHARITY NUMBER: 1111411

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Yedidim Association Ltd

Martin+Heller 5 North End Road London NW11 7RJ

Yedidim Association Ltd

Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to 12
Detailed Statement of Financial Activities 13

Yedidim Association Ltd

Report of the Trustees for the Year Ended 31 March 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity was formed for the advancement of the orthodox Jewish faith, orthodox Jewish religious education, and the relief of poverty in the orthodox Jewish community.To this end the charity has made various grants in the year under review.

Public benefit

The trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.

ACHIEVEMENT AND PERFORMANCE

During the year the charity raised substantial funds, and has applied a majority of the funds in grants in furtherance of its objectives.

FINANCIAL REVIEW

During the year, the charity's incoming resources exceeded the outgoing resources. The trustees are satisfied with the results for the year and the charity has surplus reserves. The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.

FUTURE PLANS

There are no current plans to change the activities or modus operandi in the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The company is managed and controlled by the directors who are also the trustees and meet regularly. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, training and induction procedures.

Risk management

The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05385704 (England and Wales)

Registered Charity number

1111411

Page 1

Yedidim Association Ltd

Report of the Trustees for the Year Ended 31 March 2024

Registered office

122 Kyverdale Road London N16 6PR

Trustees

Y Horowitz A Klein

Independent Examiner

Adrian Heller FCA Martin+Heller 5 North End Road London NW11 7RJ Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.......................................................................... A Klein - Trustee

Page 2

Independent Examiner's Report to the Trustees of Yedidim Association Ltd

Independent examiner's report to the trustees of Yedidim Association Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 accounts to be reached.

Adrian Heller FCA

Martin+Heller 5 North End Road London NW11 7RJ

Date: .............................................

Page 3

Yedidim Association Ltd

Statement of Financial Activities for the Year Ended 31 March 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
54,500
Investment income
2
66,093
Total
120,593
EXPENDITURE ON
Raising funds
3
31,529
Charitable activities
Grants
66,402
Other
897
Total
98,828
NET INCOME
21,765
Other recognised gains/(losses)
Gains on revaluation of fixed assets
-
Net movement in funds
21,765
RECONCILIATION OF FUNDS
Total funds brought forward
1,009,196
TOTAL FUNDS CARRIED FORWARD
1,030,961		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-		 31.3.24
Total
funds
£
54,500
66,093
120,593
31,529
66,402
897
98,828
21,765
-
21,765
1,009,196
1,030,961		 31.3.23
Total
funds
£
275,646
63,960
339,606
26,077
293,624
1,491
321,192
18,414
290,000
308,414
700,782
1,009,196

The notes form part of these financial statements

Page 4

Yedidim Association Ltd

Balance Sheet 31 March 2024

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
6
1,250,000
CURRENT ASSETS
Debtors
7
37,807
Cash at bank
4,952
42,759
CREDITORS
Amounts falling due within one year
8
(38,707)
NET CURRENT ASSETS
4,052
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,254,052
CREDITORS
Amounts falling due after more than one year
9
(223,091)
NET ASSETS
1,030,961
FUNDS
11
Unrestricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 31.3.24
Total
funds
£
1,250,000
37,807
4,952
42,759
(38,707)
4,052
1,254,052
(223,091)
1,030,961
1,030,961
1,030,961		 31.3.23
Total
funds
£
1,250,000
38,690
840
39,530
(42,778)
(3,248)
1,246,752
(237,556)
1,009,196
1,009,196
1,009,196

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 5

continued...

Yedidim Association Ltd

Balance Sheet - continued 31 March 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. A Klein - Trustee

The notes form part of these financial statements

Page 6

Yedidim Association Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Allocation and apportionment of costs

Governance costs include costs of the preparation of financial statements, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

Tangible fixed assets

Tangible fixed assets, comprised of investment property, is stated at the trustees estimate of market value at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 7

Yedidim Association Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. INVESTMENT INCOME

Rents received
3.
RAISING FUNDS
Investment management costs
Portfolio management
Interest payable and similar charges
4.
GRANTS PAYABLE
Grants		 31.3.24
31.3.23
£
£
66,093
63,960
31.3.24
31.3.23
£
£
9,757
11,356
21,772
14,721
31,529
26,077
31.3.24
31.3.23
£
£
66,402
293,624		 31.3.23
£
63,960
31.3.23
£
11,356
14,721
26,077

The total grants paid to institutions during the year amounted to £66,402 (2022: £293,624).

Total grants paid is comprised as follows:
CHAIM BECHESED 25,000
DOVER SHOLEM COMMUNITY TRUST 18,600
MORESHET HATORAH LTD 12,622
THE TALMUD TORAH MACHZIKEI HADASS TRUST 180
FUNDD 10,000
66,402

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

continued...

Page 8

Yedidim Association Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

6.
TANGIBLE FIXED ASSETS
COST OR VALUATION
At 1 April 2023 and 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
Cost or valuation at 31 March 2024 is represented by:
Valuation in 2023
Valuation in 2016
Cost
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors		 Freehold
property
£
450,000
450,000
450,000
Freehold
property
£
130,000
78,163
241,837
450,000		 Long
leasehold
£
800,000
800,000
800,000
Long
leasehold
£
160,000
85,032
554,968
800,000
31.3.24
£
6,727
31,080
37,807		 Totals
£
1,250,000		 Totals
£
1,250,000
1,250,000
1,250,000
Totals
£
290,000
163,195
796,805
1,250,000
31.3.23
£
-
38,690
38,690

continued...

Page 9

Yedidim Association Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts (see note 10)
Trade creditors
Other creditors
Accrued expenses
9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 10)
10.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
11.
MOVEMENT IN FUNDS
At 1/4/23
£
Unrestricted funds
General fund
1,009,196
TOTAL FUNDS
1,009,196		 31.3.24
£
36,007
-
1,500
1,200
38,707
31.3.24
£
223,091
31.3.24
£
36,007
36,007
187,084
Net
movement
in funds
£
21,765
21,765		 31.3.23
£
36,007
1,071
1,500
4,200
42,778
31.3.23
£
237,556
31.3.23
£
36,007
36,007
201,549
At 31/3/24
£
1,030,961		 31.3.23
£
36,007
1,071
1,500
4,200
42,778
31.3.23
£
237,556		 31.3.23
£
36,007
1,071
1,500
4,200
42,778
31.3.23
£
36,007
36,007
201,549
1,030,961

continued...

Page 10

Yedidim Association Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
120,593
TOTAL FUNDS
120,593
Comparatives for movement in funds
At 1/4/22
£
Unrestricted funds
General fund
700,782
TOTAL FUNDS
700,782
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
339,606
(321,192)
TOTAL FUNDS
339,606
(321,192)
A current year 12 months and prior year 12 months combined position is as follows:
At 1/4/22
£
Unrestricted funds
General fund
700,782
TOTAL FUNDS
700,782		 Resources
expended
£
(98,828)
(98,828)
Net
movement
in funds
£
308,414
308,414
Gains and
losses
£
290,000
290,000
Net
movement
in funds
£
330,179
330,179		 Movement
in funds
£
21,765
21,765
At 31/3/23
£
1,009,196
1,009,196
Movement
in funds
£
308,414
308,414
At 31/3/24
£
1,030,961
1,030,961

continued...

Page 11

Yedidim Association Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 460,199 (420,020) 290,000 330,179
TOTAL FUNDS 460,199 (420,020) 290,000 330,179

12. RELATED PARTY DISCLOSURES

Donations received by the charity include the following amounts which were received from charities which have trustees in common with Yedidim Association Ltd:

Belz Foundation Ltd 9,500

13. COMPANY LIMITED BY GUARANTEE

The charitable company is limited by guarantee and does not have share capital. The articles of association of the company preclude the distribution of assets to members of the company accordingly a reconciliation of shareholders' funds is inappropriate.

Page 12

Yedidim Association Ltd

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Rents received
Total incoming resources
EXPENDITURE
Investment management costs
Portfolio management
Bank loan interest
Charitable activities
Grants to institutions
Support costs
Governance costs
Foreign exchange gain/loss
Sundries
Accountancy and legal fees
Bank interest
Total resources expended
Net income		 31.3.24
£
54,500
66,093
120,593
9,757
21,772
31,529
66,402
-
292
600
5
897
98,828
21,765		 31.3.23
£
275,646
63,960
339,606
11,356
14,721
26,077
293,624
(18)
-
1,500
9
1,491
321,192
18,414

This page does not form part of the statutory financial statements

Page 13