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2023-03-31-accounts

BE'ER YITZCHOK TRUST

Annual Report and Financial Statements

For year ended 31 March 2023

Charity Number 1112465

Accounts & Business Solutions ltd 158 Cromwell Road Salford M6 6DE

BE'ER YITZCHOK TRUST Charity Commission Number 1112465 Financial Statements For Year Ended 31 March 2023

Page 2

Contents

Charity Information
Report of The Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes forming part of the financial statements
Cash Flow Statement		 Page
2
3-4
5
6
7
8
9

Page 3

BE'ER YITZCHOK TRUST Charity Commission Number 1112465 Financial Statements For Year Ended 31 March 2023

Charity Information

Board of Trustees

M Aron N Friedman H Horowitz

Administration Address

106 Osbaldeston Road London N16 6NL

Charity Number

1112465

Bankers

Barclays bank 312 Seven Sisters Rod Finsbury Park London N4 2AW

Independent Examiner

Mr I Graff Whiteside and Davies Accountants 158 Cromwell Road Salford M6 6DE

BE'ER YITZCHOK TRUST Charity Commission Number 1112465 Financial Statements For Year Ended 31 March 2023

Page 4

Report of the Trustees

Status and Administration

The Charity constituted by trust deed, dated 07 October 2005 is a registered charity.

Trustees

The Trustees in office throughout the year were Mr A Aron, Mr N Friedman and Mr H Horowitz. No trustee nor any person connected with them received any remuneration during the year.

Charitable Objects

The objects of the charity are:

The objectives are achieved primarily by carrying out extensive fundraising activities in the UK and making grants to Beer Yitzchok and Chomas Yehoshie Schools in Israel. The schools combined educate some 700 children of primary and secondary school age.

The trustees keep in regular contact with the school governors to ensure that the funds are being put to the best use possible.

The Charity is committed to the aim of providing public benefit and the Trustees have considered the Charity Commission's published guidance on public benefit.

Donations received

Donations received during the year amount to £158,665 (2022: £118,105).The trustees made use of the reserves to cover its costs and grants paid.

Grants and Donations

None of this valuable work would be possible without the ongoing support of our funders who have faith in our organisation.

These funds have enabled us to provide the much needed support to the Institutions and beneficiaries.

The recipients of our services continuously express their appreciation and admiration to all members of the public that assist us in delivering vital services.

We are proud to state that the funds are being utilised to provide maximum benefit possible to as many beneficiaries as possible.

BE'ER YITZCHOK TRUST Charity Commission Number 1112465 Financial Statements For Year Ended 31 March 2023

Page 5

Report of the Trustees (continued)

Reserves Policy

The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they feel to be appropriate.

Financial review

The trustees feel that the activity and surplus reflects the increased profile and standing within the local community. The impact for future years' expenditure is self evident and the trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.

During the year the charity obtained funds of which £131,297 (2022: £110,689) was donated to the organization in Israel, which comprises 91% of total donations made £144,824 (2022: £115,204).

It is envisaged that similar progress will ensue in the following year.

Risk Management

The process of examining the risks to which the Charity is exposed is ongoing and the trustees are planning to further develop systems to monitor and control these risks in order to lessen their potential impact on the Charity

Responsibilities of the Trustees

Charity Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the Balance Sheet Date, and of its incoming resources, including income and expenditure for the financial year.

In preparing those financial statements, the Trustees should follow best practice and

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them as Trustees to ensure that the financial statements comply with the Charity Law.

The Trustees are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.

Approved by The Trustees on 10 January 2024

N Friedman - Trustee

Page 6

BE'ER YITZCHOK TRUST Charity Commission Number 1112465 Financial Statements

For Year Ended 31 March 2023

Independent Examiner's Report to the Trustees

I report to the trustees on my examination of the financial statements of BE'ER YITSCHOK TRUST ('the charity') for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 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 charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements 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).

  5. 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.

I Graff

Whiteside and Davies Accountants Independent Examiner 158 Cromwell Road Salford M6 6DE

Date: 28 January 2020

Page 7

BE'ER YITZCHOK TRUST

Charity Commission Number 1112465 Financial Statements

For Year Ended 31 March 2023

Statement of Financial Activities

Incoming Resources
Donations received
Interest received
Less:
Cost of generating funds
Travel and fundraising expenses
Net incoming resources available
for charitable application
Less:
Charitable expenditure
Cost of Activities In Furtherance
of the Charity's Objects
Grants made
Sundry
Repairs
software
Printing
Governance
Bank charges and interest
Reconciliation of funds
Net (deficit) for the year
Total funds brought forward
Total funds carried forward		 Notes
3
4		 Unrestricted
funds
£
158,665
-
158,665
3,090
155,575
144,824
94
-
546.00
585
2,000
664
148,713
6,862
(5,250)
1,612		 2023
Total
£
158,665
-
158,665
3,090
155,575
144,824
94
-
546.00
585
2,000
664
148,713
6,862
(5,250)
1,612		 2022
Total
£
118,105
118,105
0
118,105
119,204
18
0
0
17
1,950
532
121,721
(3,616)
(1,634)
(5,250)

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

The attached notes form part of these accounts.

Page 8

BE'ER YITZCHOK TRUST Charity Commission Number 1112465 Financial Statements

For Year Ended 31 March 2023

Balance Sheet At 31 March 2023

Current Assets
Cash at Bank
Current Liabilities
Other Creditors
Accruals
Net Assets
Accumulated Funds
Unrestricted		 2023
£
14,995
(11,083)
(2,300)
(13,383)
1,612
1,612		 2022
£
3,584
(6,584)
(2,250)
(8,834)
(5,250)
(5,250)

Approved by the Trustees on 19 January 2023 and signed on behalf of them all.

Trustee Mr N Friedman

The attached notes form part of these accounts.

Page 9

BE'ER YITZCHOK TRUST Charity Commission Number 1112465 Financial Statements For Year Ended 31 March 2023

Notes To The Accounts

1) Principal Accounting Policies Basis of Accounting

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.

Donations and Fund Accounting

Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees.

Resources Expended

Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year. These estimates are based on the time and level of activity as appropriate.

Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

The irrecoverable element of VAT is included with the item of expense to which it relates.

2) Taxation

The Charitable Company is exempt from taxation on its charitable activities.

3)
Grants Made
Beer Yitzchok (Israel)
Other Charitable grants and donations
Small Donations
School Small Gra Chomat Yehoshi school
Shefa Chaim School		 2023
£
-
143,725
143,725
£
12,428
65,952
65,345
143,725		 2022
£
0
115,204
115,204

4) Governance

Independent Examiner fee

fees payable to the independent examiner for:
independent examination of the financial statements		 2,000 2,000

BE'ER YITZCHOK TRUST Charity Commission Number 1112465 Financial Statements

Page 10

For Year Ended 31 March 2023

Statement of Cash Flows for the year ended 31 March 2023

Operating activities
Profit/(loss) for the financial year
Increase in creditors
Cash generated by/(used in) operating activities
Net cash generated/(used)
Cash generated by/(used in) operating activities
Net cash generated/(used)
Cash and cash equivalents at 1 April 2022
Cash and cash equivalents at 31 March 2023
Net movement in year
Cash and cash equivalents comprise:
Cash at bank		 2023
£
6,862
4,549
11,411
11,411
11,411
11,411
14,995
26,406
(11,411)
14,995		 2022
£
(3,616)
450
(3,166)
(3,166)
(3,166)
(3,166)
3,584
418
3,166
3,584