**REGISTERED COMPANY NUMBER: 05686881 (England and Wales) REGISTERED CHARITY NUMBER: 1115426** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 January 2023** ## **for** ## **Yad Eliezer Trust** Martin+Heller 5 North End Road London NW11 7RJ **Yad Eliezer Trust** **Contents of the Financial Statements for the Year Ended 31 January 2023** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**||6|| |**Cash Flow Statement**||7|| |**Notes to the Cash Flow Statement**||8|| |**Notes to the Financial Statements**|9|to|13| |**Detailed Statement of Financial Activities**||14|| **Yad Eliezer Trust** **Report of the Trustees for the Year Ended 31 January 2023** 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 January 2023. 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 relief of poverty amongst the elderly or persons in conditions of need, hardship and distress within the Jewish community. The advancement of the orthodox Jewish religion. The advancement of education according to the tenets of the orthodox Jewish religion. To promote any charitable purpose for the benefit of the Jewish community. ## **Significant activities** The Charity continued to procure significant donations from donors in the sum of £809,405 and made significant grants to Yad Eliezer in Israel in the sum of £803,000. ## **Public benefit** The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities. ## **Grantmaking** Grants are made to Yad Eliezer in Israel which accord with objects of the Charity. ## **Volunteers** During the period, the charity had one volunteer to help with the objectives of the Charity. ## **ACHIEVEMENT AND PERFORMANCE** ## **Development, activities and achievement this period** The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to Yad Eliezer in Israel during the period from contributions received from donors. The Statement of Financial Activities shows a deficit of £115,805 after making total grants of £873,791 and the reserves stand at £67,605. ## **Internal and external factors** The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact. ## **FINANCIAL REVIEW** ## **Financial position** The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to Yad Eliezer in Israel during the period from the contributions received from donors. ## **Principal funding sources** Yad Eliezer Trust is pleased and fortunate to receive donations from a number of organisations. Overall the charity has experienced a good year and hopes it will continue to do so next year. ## **Reserves policy** The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory. Page 1 **Yad Eliezer Trust** **Report of the Trustees for the Year Ended 31 January 2023** ## **FUTURE PLANS** The trustees plan to maximise the level of donations received whilst continuing to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee. ## **Recruitment and appointment of new trustees** The trustees have no beneficial interest in the company as it is a company limited by guarantee and are chosen by agreement of trustees at an annual meeting. The choice is based on applicants' business and community knowledge. New trustees are subject to trustee induction training which includes as understanding of the content of the Memorandum and Articles of Association, their legal obligations under Charity Act and Company Law, the organisational structure of charity and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events which enhance their knowledge and skill thereby improving the performance of their role. ## **Organisational structure** The Board of Trustees must have at least 3 Trustees serving at any one time. These trustees liaise with the Senior Administrator who is appointed by the trustees to manage the day-to-day running of the charity. The Trustees meet on a regular basis. ## **Wider network** The charity operates throughout London and Israel. ## **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 manage any perceived risks. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 05686881 (England and Wales) ## **Registered Charity number** 1115426 ## **Registered office** 5 North End Road London NW11 7RJ ## **Trustees** B Chontow M Averbuch P Benedikt D Halibard ## **Company Secretary** B Chontow Page 2 **Yad Eliezer Trust** ## **Report of the Trustees** **for the Year Ended 31 January 2023** **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner** A 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: ........................................................................ B Chontow - Trustee Page 3 **Independent Examiner's Report to the Trustees of Yad Eliezer Trust** ## **Independent examiner's report to the trustees of Yad Eliezer Trust ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2023. ## **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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can 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. 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. A Heller FCA Martin+Heller 5 North End Road London NW11 7RJ Date: ............................................. Page 4 **Yad Eliezer Trust** ## **Statement of Financial Activities for the Year Ended 31 January 2023** |31.1.23
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
809,405
**EXPENDITURE ON**
Raising funds
3
12,718
**Charitable activities**
4
Grants to institutions
873,791
Other
38,701
**Total**
925,210
**NET INCOME/(EXPENDITURE)**
(115,805)
**RECONCILIATION OF FUNDS**
Total funds brought forward
183,410
**TOTAL FUNDS CARRIED FORWARD**
67,605|31.1.22
Total funds
£
1,354,063
11,217
1,326,000
40,187
1,377,404
(23,341)
206,751
183,410| |---|---| The notes form part of these financial statements Page 5 **Yad Eliezer Trust** ## **Balance Sheet 31 January 2023** |||31.1.23|31.1.22| |---|---|---|---| |||Unrestricted|| |||fund|Total funds| ||Notes|£|£| |**CURRENT ASSETS**|||| |Debtors|10|-|26,115| |Cash at bank and in hand||70,005|158,495| |||70,005|184,610| |**CREDITORS**|||| |Amounts falling due within one year|11|(2,400)|(1,200)| |**NET CURRENT ASSETS**||67,605|183,410| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||67,605|183,410| |**NET ASSETS**||67,605|183,410| |**FUNDS**|12||| |Unrestricted funds||67,605|183,410| |**TOTAL FUNDS**||67,605|183,410| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 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: ............................................. B Chontow - Trustee The notes form part of these financial statements Page 6 **Yad Eliezer Trust** ## **Cash Flow Statement** ## **for the Year Ended 31 January 2023** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.1.23
£
(88,490)
(88,490)
(88,490)
158,495
70,005|31.1.22
£
(26,650)
(26,650)
(26,650)
185,145
158,495| |---|---|---| The notes form part of these financial statements Page 7 **Yad Eliezer Trust** **Notes to the Cash Flow Statement for the Year Ended 31 January 2023** |**1.**
**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**
**ACTIVITIES**
**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Decrease/(increase) in debtors
Increase in creditors
**Net cash used in operations**|**OPERATING**
31.1.23
£
(115,805)
26,115
1,200
(88,490)|31.1.22
£
(23,341)
(3,309)
-| |---|---|---| |||(26,650)| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** ||At 1/2/22|Cash flow|At 31/1/23| |---|---|---|---| ||£|£|£| |**Net cash**|||| |Cash at bank and in hand|158,495|(88,490)|70,005| ||158,495|(88,490)|70,005| |**Total**|158,495|(88,490)|70,005| The notes form part of these financial statements Page 8 **Yad Eliezer Trust** **Notes to the Financial Statements for the Year Ended 31 January 2023** ## **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. ## **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. ## **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. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| ||31.1.23|31.1.22| ||£|£| |Donations received|809,405|1,354,063| continued... Page 9 **Yad Eliezer Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 January 2023** |**3.**
**RAISING FUNDS**
**Raising donations and legacies**
Appeal costs
**4.**
**CHARITABLE ACTIVITIES COSTS**
Grants to institutions
**5.**
**GRANTS PAYABLE**
Grants to institutions
The total grants paid to institutions during the year was as follows:
Grants to institutions
Total grants paid to institutions during the year was as follows:
Yad Eliezer Israel
Beezri Support
**Total Grants**|31.1.23
£
12,718
31.1.23
£
873,791
31.1.23
£
873,791|31.1.22
£
11,217
Grant
funding of
activities
(see note
5)
£
873,791
31.1.22
£
1,326,000|31.1.22
£
11,217| |---|---|---|---| |||31.1.22
£
1,326,000|| continued... Page 10 **Yad Eliezer Trust** **Notes to the Financial Statements - continued for the Year Ended 31 January 2023** ## **6. SUPPORT COSTS** |**6.**|**SUPPORT COSTS**||| |---|---|---|---| ||||Governance| ||||costs| ||||£| ||Other resources expended||1,200| |**7.**|**NET INCOME/(EXPENDITURE)**||| ||Net income/(expenditure) is stated after charging/(crediting):||| |||31.1.23|31.1.22| |||£|£| ||Auditors' remuneration|-|1,200| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022. ## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|1,354,063| |**EXPENDITURE ON**|| |Raising funds|11,217| |**Charitable activities**|| |Grants to institutions|| ||1,326,000| |Other|40,187| |**Total**|1,377,404| |**NET INCOME/(EXPENDITURE)**|(23,341)| |**RECONCILIATION OF FUNDS**|| |Total funds brought forward|206,751| |**TOTAL FUNDS CARRIED FORWARD**|183,410| continued... Page 11 **Yad Eliezer Trust** **Notes to the Financial Statements - continued for the Year Ended 31 January 2023** |**10.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| |---|---|---|---|---|---| |||||31.1.23|31.1.22| |||||£|£| ||Other debtors|||-|26,115| |**11.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| |||||31.1.23|31.1.22| |||||£|£| ||Accrued expenses|||2,400|1,200| |**12.**|**MOVEMENT IN FUNDS**||||| |||||Net|| |||||movement|| |||At|1/2/22|in funds|At 31/1/23| ||||£|£|£| ||**Unrestricted funds**||||| ||General fund|183,410||(115,805)|67,605| ||**TOTAL FUNDS**|183,410||(115,805)|67,605| ||Net movement in funds, included in the above are as follows:||||| |||Incoming||Resources|Movement| |||resources||expended|in funds| ||||£|£|£| ||**Unrestricted funds**||||| ||General fund|809,405||(925,210)|(115,805)| ||**TOTAL FUNDS**|809,405||(925,210)|(115,805)| ||**Comparatives for movement in funds**||||| |||||Net|| |||||movement|| |||At|1/2/21|in funds|At 31/1/22| ||||£|£|£| ||**Unrestricted funds**||||| ||General fund|206,751||(23,341)|183,410| ||**TOTAL FUNDS**|206,751||(23,341)|183,410| continued... Page 12 **Yad Eliezer Trust** **Notes to the Financial Statements - continued for the Year Ended 31 January 2023** ## **12. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
1,354,063
1,354,063|Resources
expended
£
(1,377,404 )
(1,377,404 )|Movement
in funds
£
(23,341)| |---|---|---|---| ||||(23,341)| A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|| ||At 1/2/21|in funds|At 31/1/23| ||£|£|£| |**Unrestricted funds**|||| |General fund|206,751|(139,146)|67,605| |**TOTAL FUNDS**|206,751|(139,146)|67,605| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |||Incoming|Resources|Movement| |---|---|---|---|---| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|2,163,468|(2,302,614 )|(139,146)| ||**TOTAL FUNDS**|2,163,468|(2,302,614 )|(139,146)| |**13.**|**RELATED PARTY DISCLOSURES**|||| There were no related party transactions for the year ended 31 January 2023. Page 13 **Yad Eliezer Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 January 2023** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations received
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Appeal costs
**Charitable activities**
Grants to institutions
**Other**
Bank charges
Sundry expenses
Exchange difference
Admin expenses
**Support costs**
**Governance costs**
Auditors' remuneration
Accountancy fees
Total resources expended
**Net expenditure**|31.1.23
£
809,405
809,405
12,718
873,791
559
100
(358)
37,200
37,501
-
1,200
1,200
925,210
(115,805)|31.1.22
£
1,354,063
1,354,063
11,217
1,326,000
916
2,073
798
35,200
38,987
1,200
-
1,200
1,377,404
(23,341)| |---|---|---| This page does not form part of the statutory financial statements Page 14