Charity Registration No. 1112009
SUPPORTERS OF ISRAEL'S DEPENDANTS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SUPPORTERS OF ISRAEL'S DEPENDANTS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M Gross R Simons M Barnett M Lester
Charity number (England and Wales) 1112009 Principal address Flat 16 Ellerton House 10-12 Bryanston Square London W1H 2DQ Independent examiner P J Winter Taylor Associates 1st Floor Gallery Court 28 Arcadia Avenue London N3 2FG
SUPPORTERS OF ISRAEL'S DEPENDANTS
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 |
SUPPORTERS OF ISRAEL'S DEPENDANTS
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 3 to the accounts and comply with the rust deed, the Charities Act 1993 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
The charity’s objects are to support any charitable purpose which has the object of improving the conditions of life and wellbeing of people living in Israel. The policies adopted in furtherance of these objects are to identify projects and provide grants to assist in bringing these projects to fruition.
The trustees' main objective continued to be the raising of funds to be applied towards supporting projects that provided social and welfare support to young adults who had no parents living with them in Israel. The areas of support included education, clothing, single person accommodation, building of clubhouses and organising days out.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Activities
During the period, the charity identified specific social and welfare needs and was able to raise funds to support and grant aid and allocate resources to meet those extraordinary needs in response to the traumatic events that took place in and since October 2023.
Grant making policy
Grant Making Policy
When an organisation is brought to the notice of the trustees or where an organisation has requested assistance in a specific area or project, competent volunteers together with, if necessary, qualified experts will research and investigate the projects and report to the trustees. The volunteers will at the outset of all research be made aware of the need to take into account issues such as local culture, traditions and the political situation.
The trustees then consider the information presented and if necessary, request further information and consult with other charitable and governmental organisations before distributing help.
The charity may also provide support to individuals after consultation with schools, universities and other organisations such as the armed forces on how to best assist the particular individuals requiring the support.
Achievements and performance
Significant activities and achievements against objectives
The trustees are pleased with the level of funds that have been generated during the financial period and applied to the specific projects supported by the Charity. The Trustees are continually being approached by and are considering needy causes within Israel.
Financial review
The charity has generated income during the year of £355,017 from donations and £322,054 of the charity's funds have been applied either in direct grants for charitable purposes or to purchase clothing, social goods and comfort and personal hygiene products for those who required such support during the period. The level of activity escalated during the year in the context of the traumatic events which took place in Israel during and since October 2023. The expenses of the charity continue to be minimal.
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SUPPORTERS OF ISRAEL'S DEPENDANTS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Going concern
As the charity has no fixed overheads, so there is little risk to the going concern status.
The charity will continue to exist so long as there continues to be a need to support the objectives and the Trustees can continue to organise and provide such support.
No assets are held other than in cash and therefore the value of such assets are not subject to valuation variations that might arise from a change in the going concern status of the charity.
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
In practice, in view of the charity's low level of overheads, there has been no need to maintain a high level of reserves. During the period, the Charity has applied part of the funds brought forward from previous years to charitable purposes.
Major risks
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Plans for future periods
The trustees will continue to support the projects to which it has granted financial support during the year under review and will consider support for new projects in accordance with the Charity's objectives.
Structure, governance and management
The charity was established by a charitable trust deed on 10 November 2005.
The trustees who served during the year and up to the date of signature of the financial statements were:
M Gross
R Simons M Barnett
M Lester
Recruitment and appointment of trustees
The initial trustees recruit and appoint professional individuals or those with previous experience of working as trustees on a Charity.
On behalf of trustees
R Simons
Trustee
30 January 2025
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SUPPORTERS OF ISRAEL'S DEPENDANTS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SUPPORTERS OF ISRAEL'S DEPENDANTS
I report to the trustees on my examination of the financial statements of Supporters of Israel's Dependants (the charity) for the year ended 31 March 2024.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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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.
P J Winter
Taylor Associates 1st Floor Gallery Court 28 Arcadia Avenue London N3 2FG 30 January 2025
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SUPPORTERS OF ISRAEL'S DEPENDANTS
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 2 345,017 10,000 Investments 4 319 - Total income 345,336 10,000 Expenditure on: Charitable activities 5 332,054 - Other expenditure 12 22 - Total expenditure 332,076 - Net income/(expenditure) and movement in funds 13,260 10,000 Reconciliation of funds: Fund balances at 1 April 2023 32,631 - Fund balances at 31 March 2024 45,891 10,000 |
Total Unrestricted funds 2024 2023 £ £ 355,017 - 319 39 355,336 39 332,054 4,380 22 - 332,076 4,380 23,260 (4,341) 32,631 36,972 55,891 32,631 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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SUPPORTERS OF ISRAEL'S DEPENDANTS
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Current assets Cash at bank and in hand Net current assets The funds of the charity Restricted income funds 13 Unrestricted funds 14 |
2024 £ 55,891 |
£ 55,891 10,000 45,891 55,891 |
2023 £ 32,631 |
£ 32,631 |
|---|---|---|---|---|
| - 32,631 |
||||
| 32,631 |
The financial statements were approved by the trustees on 30 January 2025
R Simons Trustee
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SUPPORTERS OF ISRAEL'S DEPENDANTS
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024
1 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.
2 Income from donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and gifts | 345,017 | 10,000 | 355,017 | - | - | - |
3 Accounting policies
Charity information
Supporters of Israel's Dependants is a charity that supports any charitable purpose which has the objective of improving the conditions of life and wellbeing of people living in Israel. This includes supporting projects that provide social and welfare support where needed to young adults who have no parents living with them in Israel.
3.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 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 financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
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SUPPORTERS OF ISRAEL'S DEPENDANTS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3 Accounting policies
(Continued)
3.2 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.
3.3 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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
3.4 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 on a receipts basis. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised on a receipts basis.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
3.5 Resources expended
Costs and grants paid are recognised on a cash basis as the charity incurs no liabilities except as and when paid.
3.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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.
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SUPPORTERS OF ISRAEL'S DEPENDANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
- 3 Accounting policies
(Continued)
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.
Trade 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. Trade 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.
4 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 319 | 39 |
| Expenditure on charitable activities | ||
| Social, | Social, | |
| welfare and | welfare and | |
| wellbeing | wellbeing | |
| 2024 | 2023 | |
| £ | £ | |
| Direct costs | ||
| Food, accommodation and other support for victims affected by trauma | 263,539 | - |
| Grant funding of activities (see note 8) | 68,515 | 4,380 |
| 332,054 | 4,380 | |
| Analysis by fund | ||
| Unrestricted funds | 332,054 | 4,380 |
5 Expenditure on charitable activities
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SUPPORTERS OF ISRAEL'S DEPENDANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
6 Description of charitable activities
Social, welfare and wellbeing
Social and welfare needs
In previous years, this was represented by supporting institutions in Israel who provided welfare support including the provision of everyday clothing, food, domestic equipment, personal hygiene and other goods, as well as educational support, with a view to improving the personal welfare of the beneficiaries.
Following the traumatic events of the attack on 7 October 2023, this support was extended to cover an enormous increase in the number of persons and families requiring support. The nature of such support was extended to include assistance with temporary re-location of individuals and families during the ensuing conflict.
7 Net movement in funds
| Net movement in funds | 2024 | 2023 |
| £ | £ | |
| The net movement in funds is stated after charging/(crediting): | ||
| Fees payable for the independent examination of the charity's financial | ||
| statements | - | - |
8 Grants payable
| Grants to institutions: Youth Programs Purchase of goods for health, social and personal welfare Food for needy and displaced families Relocation and temporary accommodation for displaced families Medical supplies |
2024 £ - 2,340 15,175 50,000 1,000 68,515 |
2023 £ 4,380 - - - - |
|---|---|---|
| 4,380 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursement of travelling expenses during the year.
10 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
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SUPPORTERS OF ISRAEL'S DEPENDANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
10 Employees
(Continued)
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Other
| Financing costs | 2024 £ 22 22 |
2023 £ - |
|---|---|---|
| - |
13 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At | 1 | April | Incoming | At | 31 | March | |
|---|---|---|---|---|---|---|---|
| 2023 | resources | 2024 | |||||
| £ | £ | £ | |||||
| Medical equipment & support | - | 10,000 | 10,000 |
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 | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 32,631 | 345,336 | (332,076) | 45,891 |
| Previous year: | At 1 April | Incoming | Resources | At 31 March |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 36,972 | 39 | (4,380) | 32,631 |
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SUPPORTERS OF ISRAEL'S DEPENDANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2024 2024 £ £ At 31 March 2024: Current assets/(liabilities) 45,891 10,000 45,891 10,000 Unrestricted Restricted funds funds 2023 2023 £ £ At 31 March 2023: Current assets/(liabilities) 32,631 - 32,631 - |
Total 2024 £ 55,891 |
|---|---|
| 55,891 | |
| Total 2023 £ 32,631 |
|
| 32,631 |
16 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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