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← Asser Bishvil Foundation

2024-04-05-accounts

CHARITY REGISTRATION NUMBER: 1112477

Asser Bishvil Foundation Financial Statements 5 April 2024

HAFFNER HOFF LTD

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

Asser Bishvil Foundation

Financial Statements

Year ended 5 April 2024

Page
Trustees' annual report 1
Independent auditor's report to the trustees of Asser Bishvil
Foundation 7
Statement of financial activities 12
Statement of financial position 13
Statement of cash flows 14
Notes to the financial statements 15

Asser Bishvil Foundation

Trustees' Annual Report

Year ended 5 April 2024

The trustees present their report and the financial statements of the charity for the year ended 5 April 2024.

Reference and administrative details

Registered charity name Asser Bishvil Foundation
Charity registration number 1112477
Principal office 7 Bevendon Square
Salford
M7 4TF
The trustees Rabbi D Orzel
Mrs S Orzel
C S Ehrentreu
Auditor Haffner Hoff Ltd
Accountants & statutory auditor
2nd Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
Bankers Barclays Bank PLC
Leicester
LE87 2BB
Lloyds Plc
King Street
Manchester
M1

- 1 -

Asser Bishvil Foundation

Trustees' Annual Report (continued)

Year ended 5 April 2024

Structure, governance and management

Asser Bishvil Foundation is an unincorporated charity constituted under a trust deed dated 07 February 2005, as updated by a deed of retirement dated 4 August 2022. It is a registered charity with a charity number being 1112477 and was registered as a charity on 09 December 2005.

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 Mr Pollak on behalf of the trustees. 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 no policies for the induction or training of new trustees. Consideration is being given to succession planning and the recruitment of new trustees. A trustee training programme is in place and new trustees will undergo an induction process.

Risk review

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 Trustees have in the course of the year updated the risk policy and the risk register.

Risks are managed by operating within current Charity Commission guidance and conducting effective due diligence of donors and beneficiaries. This is exemplified by the on boarding process, the grants criteria and monitoring reports.

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

Risk management

The trustees are responsible for the management of the risks faced by the Charity. A formal review of the charity's risk management processes is undertaken on an annual basis at the December Finance Board meeting.

The key controls used by the charity include:

Through the risk management processes established for the Charity, the trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

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Asser Bishvil Foundation

Trustees' Annual Report (continued)

Year ended 5 April 2024

Objectives and activities

The objects of the charity are the relief of poverty amongst persons in need and hardship in the Jewish community; the advancement of education according to the beliefs and values of the orthodox Jewish faith and the advancement of the Jewish orthodox religion.

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.

As detailed below, during the course of the year the charity has distributed charitable benefit of £8,415,871 against an income of £7,997,108, achieving the highest levels of public benefit and maintaining low administrative costs.

Grant making policy

The charity has established its grant making policy to achieve its objects for the public benefit. The charity invites applications for funding through contacting local philanthropists to contribute towards projects that both the trustees in their ultimate discretion and the philanthropists feel are appropriate for the charities objects.

The application of the funds by way of grants is to organisations registered as charities in the UK or overseas.

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.

- 3 -

Asser Bishvil Foundation

Trustees' Annual Report (continued)

Year ended 5 April 2024

Achievements and performance

The charity received £7,980,154 in donations during the year (2023: £8,949,073).

The charity also recorded £16,954 in interest receivable on bank deposits (2023: 228).

The charity paid out £8,603,901 by way of grants and support costs (2023: £9,623,005). The grants have been categorised for ease of reference and a full list of grants is available upon a written request to the trustees. The trustees consider this is line with SORP (FRS 102) paragraph 16.17 on the basis that the categories convey more meaningful information to the reader of the accounts. These grants were made in line with the stated objects of the charity as analysed below.

Grants relate to the objects of the charity in the following way:-

Included in the above figures for grants paid out are the following material grants:

Additionally, support costs of £188,030 (2023: £238,650) were incurred, comprising bank charges, professional fees, governance costs, sundry premises and office costs as well as the cost of three part time administrators.

There were no material fundraising costs during the year.

There were no related party transactions in the reporting period.

There was an overall net expenditure and movement in funds during the year amounting to 606,793 (2023: £565,183).

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Asser Bishvil Foundation

Trustees' Annual Report (continued)

Year ended 5 April 2024

Financial review

Investment performance

Thee trustees have adopted a policy of depositing reserves in secure bank deposit accounts rather than lending these reserves to other entities with higher but riskier returns.

Going Concern

The SOFA shows a loss made during the year. This was due to the fact that the charity had a large surplus and the trustees were consequently able to increase charitable activities.

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

Reserves policy

The unrestricted fund represents the unrestricted funds arising from past operating results.

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 reason for the higher reserve is due to funds being held by the trustees in line with the voucher system operated by the charity. This system is designed to distribute funds by electronic transfer or voucher book issued by the trustees to members of the public who have donated funds to the charity. The funds belong to the charity with no strings attached and the trustees allow the payment of grants to registered charities or other charitable institutions by way of electronic transfer or voucher book. The trustees can refuse to honour a payment request at any time.

The free reserves stand at £1,354,207 being the net current assets of the charity, all of which are unrestricted.

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.

Due to the growth and success of the charity, the trustees have sought to address future plans and succession planning in a timely way. With this in mind the charity has undergone a planned governance review. The trustees are considering plans to migrate the operations of the charity into an incorporated entity so that it is best placed to manage the opportunities and risks of future growth and expansion in particular with regard to the use of technology to provide a better service for donors and beneficiaries. The trustees will report further on this next year.

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.

- 5 -

Asser Bishvil Foundation

Trustees' Annual Report (continued)

Year ended 5 April 2024

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

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 21 January 2025 and signed on behalf of the board of trustees by:

Rabbi D Orzel

Trustee

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Asser Bishvil Foundation

Independent Auditor's Report to the Trustees of Asser Bishvil Foundation

Year ended 5 April 2024

Opinion

We have audited the financial statements of Asser Bishvil Foundation (the 'charity') for the year ended 5 April 2024 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:

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 the provisions available for small entities, in the circumstances set out below, 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.

In common with many other businesses of our size and nature our firm assists with the preparation of the financial statements from trial balance and provides payroll services.

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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Asser Bishvil Foundation

Independent Auditor's Report to the Trustees of Asser Bishvil Foundation

(continued)

Year ended 5 April 2024

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:

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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Asser Bishvil Foundation

Independent Auditor's Report to the Trustees of Asser Bishvil Foundation

(continued)

Year ended 5 April 2024

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.

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

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Asser Bishvil Foundation

Independent Auditor's Report to the Trustees of Asser Bishvil Foundation (continued)

Year ended 5 April 2024

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:

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.

- 10 -

Asser Bishvil Foundation

Independent Auditor's Report to the Trustees of Asser Bishvil Foundation

(continued)

Year ended 5 April 2024

The firm is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under Section 1212 of The Companies Act 2006.

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.

2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

Haffner Hoff Ltd Accountants & statutory auditor

21 January 2025

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Asser Bishvil Foundation

Statement of Financial Activities

Year ended 5 April 2024

2024 2024 2023
Unrestricted
funds Total funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 4 7,980,154 7,980,154 8,949,073
Investment income 5 16,954 16,954 108,749
----------------------------------------- ----------------------------------------- -----------------------------------------
Total income 7,997,108 7,997,108 9,057,822
========================================= ========================================= =========================================
Expenditure
Expenditure on charitable activities 6,7 8,603,901 8,603,901 9,623,005
----------------------------------------- ----------------------------------------- -----------------------------------------
Total expenditure 8,603,901 8,603,901 9,623,005
========================================= ========================================= =========================================
----------------------------------------- ----------------------------------------- -----------------------------------------
Net expenditure and net movement in funds (606,793) (606,793) (565,183)
========================================= ========================================= =========================================
Reconciliation of funds
Total funds brought forward 1,930,459 1,930,459 2,495,642
----------------------------------------- ----------------------------------------- -----------------------------------------
Total funds carried forward 1,323,666 1,323,666 1,930,459
========================================= ========================================= =========================================

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 15 to 21 form part of these financial statements.

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Asser Bishvil Foundation

Statement of Financial Position

5 April 2024

2024 2023
Note £ £ £
Current assets
Debtors 13 37,556 112,729
Cash at bank and in hand 1,330,592 1,867,467
----------------------------------------- -----------------------------------------
1,368,148 1,980,196
Creditors: amounts falling due within one year 14 13,941 13,895
----------------------------------------- -----------------------------------------
Net current assets 1,354,207 1,966,301
----------------------------------------- -----------------------------------------
Total assets less current liabilities 1,354,207 1,966,301
Creditors: amounts falling due after more than
one year 15 30,541 35,842
----------------------------------------- -----------------------------------------
Net assets 1,323,666 1,930,459
========================================= =========================================
Funds of the charity
Unrestricted funds 1,323,666 1,930,459
----------------------------------------- -----------------------------------------
Total charity funds 16 1,323,666 1,930,459
========================================= =========================================

These financial statements were approved by the board of trustees and authorised for issue on 21 January 2025, and are signed on behalf of the board by:

Rabbi D Orzel Trustee

The notes on pages 15 to 21 form part of these financial statements.

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Asser Bishvil Foundation

Statement of Cash Flows

Year ended 5 April 2024

2024 2023
£ £
Cash flows from operating activities
Net expenditure (606,793) (565,183)
Adjustments for:
Other interest receivable and similar income (16,954) (108,749)
Interest payable and similar charges 963 1,097
Changes in:
Trade and other debtors 75,173 (59,336)
-------------------------------- --------------------------------
Cash generated from operations (547,611) (732,171)
Interest paid (963) (1,097)
Interest received 16,954 108,749
-------------------------------- --------------------------------
Net cash used in operating activities (531,620) (624,519)
================================ ================================
Cash flows from investing activities
Proceeds from sale of other investments – 1,504,624
-------------------------------- -----------------------------------------
Net cash from investing activities – 1,504,624
================================ =========================================
Cash flows from financing activities
Proceeds from borrowings (5,255) (5,120)
-------------------------------- -----------------------------------------
Net cash used in financing activities (5,255) (5,120)
================================ =========================================
Net (decrease)/increase in cash and cash equivalents (536,875) 874,985
Cash and cash equivalents at beginning of year 1,867,467 992,482
----------------------------------------- -----------------------------------------
Cash and cash equivalents at end of year 1,330,592 1,867,467
========================================= =========================================

The notes on pages 15 to 21 form part of these financial statements.

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Asser Bishvil Foundation

Notes to the Financial Statements

Year ended 5 April 2024

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 7 Bevendon Square, Salford, Manchester, M7 4TF.

2. Statement of compliance

The accounts (financial statements) have been prepared in accordance with the relevant version of 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) and The Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

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

Going concern

The SOFA shows a loss made during the year. This was due to the fact that the charity had a large surplus and the trustees were consequently able to increase charitable activities.

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

Fair value

Debtors and creditors are stated at fair value.

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.

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Asser Bishvil Foundation

Notes to the Financial Statements (continued)

Year ended 5 April 2024

3. Accounting policies (continued)

Incoming resources

All incoming resources are 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:

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:

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.

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Asser Bishvil Foundation

Notes to the Financial Statements (continued)

Year ended 5 April 2024

3. Accounting policies (continued)

Financial instruments (continued)

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.

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 2024 Funds 2023
£ £ £ £
Donations
Donations 7,980,154 7,980,154 8,949,073 8,949,073
========================================= ========================================= ========================================= =========================================
5. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Bank interest receivable 16,954 16,954 228 228
Other interest receivable – – 108,521 108,521
---------------------------- ---------------------------- -------------------------------- --------------------------------
16,954 16,954 108,749 108,749
============================ ============================ ================================ ================================

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Asser Bishvil Foundation

Notes to the Financial Statements (continued)

Year ended 5 April 2024

6. Expenditure on charitable activities by fund type

Unrestricted
Total Funds		 Unrestricted Total Funds
Funds
2024		 Funds 2023
£ £ £ £
Relief of poverty grants 5,301,999
5,301,999		 5,912,144 5,912,144
Educational grants 2,188,126
2,188,126		 2,439,932 2,439,932
Religious grants 925,746
925,746		 1,032,279 1,032,279
Support costs 188,030
188,030		 238,650 238,650
----------------------------------------- ----------------------------------------- ----------------------------------------- -----------------------------------------
8,603,901
8,603,901		 9,623,005 9,623,005
========================================= ========================================= ========================================= =========================================
Expenditure on charitable activities by activity type
Grant funding
Support		 Total funds Total fund
of activities
costs		 2024 2023
£ £ £ £
Relief of poverty grants 5,301,999
179,390		 5,481,389 6,142,155
Educational grants 2,188,126
–		 2,188,126 2,439,932
Religious grants 925,746
–		 925,746 1,032,279
Governance costs –
8,640		 8,640 8,639
----------------------------------------- -------------------------------- ----------------------------------------- -----------------------------------------
8,415,871
188,030		 8,603,901 9,623,005
========================================= ================================ ========================================= =========================================
Analysis of support costs
Analysis of
support costs Total 2024 Total 2023
£ £ £
Staff costs 92,092 92,092 106,804
General office 87,298 87,298 68,287
Governance costs 8,640 8,640 8,640
Legal costs – – 54,919
-------------------------------- -------------------------------- --------------------------------
188,030 188,030 238,650
================================ ================================ ================================
Analysis of grants
2024 2023
£ £
Grants to institutions
Relief of poverty grants 5,301,999 5,912,144
Educational grants 2,188,126 2,439,932
Religious grants 925,746 1,032,279
----------------------------------------- -----------------------------------------
8,415,871 9,384,355
----------------------------------------- -----------------------------------------
Total grants 8,415,871 9,384,355
========================================= =========================================

7. Expenditure on charitable activities by activity type

8. Analysis of support costs

9. Analysis of grants

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Asser Bishvil Foundation

Notes to the Financial Statements (continued)

Year ended 5 April 2024

9. Analysis of grants (continued)

Included in the above figures for grants paid out are the following material grants:

10. Auditors remuneration

2024 2023
£ £
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 2,640 2,640
======================= =======================

11. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

Wages & Salaries: £92,092 (2023: 106,804)

The average number of employees and self employed (administrative) staff during the year was 3 (2023:2).

The number of staff whose renumeration for the year fell within the following bands were:

£60,000 - £69,999 - 1 (2023: 1)

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees nor were any expenses reimbursed to the trustees.

13. Debtors

2024 2023
£ £
Other debtors 37,556 112,729
============================ ================================
14. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 5,301 5,255
Accruals and deferred income 8,640 8,640
---------------------------- ----------------------------
13,941 13,895
============================ ============================

- 19 -

Asser Bishvil Foundation

Notes to the Financial Statements (continued)

Year ended 5 April 2024

15. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans and overdrafts 30,541 35,842
============================ ============================
16. Analysis of charitable funds
Unrestricted funds
At At
6 April 2023 Income Expenditure 5 April 2024
£ £ £ £
General funds 1,930,459 7,997,108 (8,603,901)
1,323,666
========================================= ========================================= ========================================= =========================================
At At
6 April 2022 Income Expenditure 5 April 2023
£ £ £ £
General funds 2,495,642 9,057,822 (9,623,005)
1,930,459
========================================= ========================================= ========================================= =========================================
17. Analysis of net assets between funds
Unrestricted Total Funds
Funds 2024
£ £
Current assets 1,368,148 1,368,148
Creditors less than 1 year (13,941)
(13,941)
Creditors greater than 1 year (30,541)
(30,541)
----------------------------------------- -----------------------------------------
Net assets 1,323,666 1,323,666
========================================= =========================================
Unrestricted Total Funds
Funds 2023
£ £
Current assets 1,980,195 1,980,195
Creditors less than 1 year (8,640)
(8,640)
Creditors greater than 1 year (41,096)
(41,096)
----------------------------------------- -----------------------------------------
Net assets 1,930,459 1,930,459
========================================= =========================================

18. Analysis of changes in net debt

At
At 6 Apr 2023 Cash flows 5 Apr 2024
£ £ £
Cash at bank and in hand 1,867,467 (536,875) 1,330,592
Debt due within one year (5,255) (46) (5,301)
Debt due after one year (35,842) 5,301 (30,541)
----------------------------------------- -------------------------------- -----------------------------------------
1,826,370 (531,620) 1,294,750
========================================= ================================ =========================================

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Asser Bishvil Foundation

Notes to the Financial Statements (continued)

Year ended 5 April 2024

19. Related parties

The charity paid a grant of £5,000 to Asser Foundation Ltd, which is a related party by virtue of having trustees in common with this charity.

The charity paid grants totalling £1,606 to Chesed Leyisroel Charitable Trust which is a related party by virtue of having a trustee in common with this charity.

The charity paid grants totalling £2,461 to Lev Shomeia which is a related party by virtue of having a trustee in common with this charity.

These grants were awarded under the usual application and procedures.

20. Taxation

Asser Bishvil Foundation is a registered charity and therefore is not liable to income tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

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